Brazil

Brazil
Thursday, April 14th 2011 - 05:24 UTC

President Rousseff invites Foxconn to develop Brazil’s electronics industry

Taiwan’s Foxconn is one of the world’s leaders and employs over a million people in China

Foxconn in planning to invest as much as 12bn US dollars in Brazil, according to President Dilma Rousseff currently on an official visit to China. Taiwan-based Foxconn operates the majority of its factories in China, producing goods for firms like Apple, Hewlett Packard and Dell.

Wednesday, April 13th 2011 - 18:34 UTC

Mercosur to release members’ same criteria macro-economic data beginning June

Brazil’s Central bank will be responsible for the release of the information

Beginning June, Mercosur full members will share macro-economic indicators elaborated with the same criteria and which will be released simultaneously, according to reports in the Montevideo press. The initiative was partly financed by the European Union that also played an advisory role.

Wednesday, April 13th 2011 - 04:30 UTC

China and Brazil agree to further expand their strategic partnership

Presidents Rousseff and Ju Hintao toast at the Great Hall of the Peoples (Photo AP)

China and Brazil on Tuesday clinched a host of government agreements and economic deals in Beijing to enhance their strategic partnership as Brazilian President Dilma Rousseff paid her first state visit to China.

Tuesday, April 12th 2011 - 16:34 UTC

China opens to Brazilian pork and meat distribution hubs in six main cities

Pedro de Camargo Neto president of Brazil’s Pork production and export industry

China opened its market to Brazilian pork and Brazil’s meat packer Marfrig said it would invest heavily in distribution centres in China. The announcements were made in Beijing where a numerous government and private sector delegation headed by Brazilian president Dilma Rousseff is on an official visit to China.

Monday, April 11th 2011 - 21:09 UTC

Brazil aware its relation with China raises the risk of “Dutch Disease”

President Rousseff arrived Monday in Beijing for a week long state visit

President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.

Monday, April 11th 2011 - 19:49 UTC

China plans to invest 10 billion USD in soy production and processing in Brazil

Beijing wants to ensure its supply of soy beans

China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.

Friday, April 8th 2011 - 23:30 UTC

Brazil’s Real at a new high; investors brush aside government measures

Mantega’s admission of defeat: “appreciation of the Brazilian real is unavoidable”

Brazil’s currency climbed again on Friday trading at its best levels in more than two years, as investors brushed aside another Brazilian government measure to limit credit consumption in an attempt to tame inflation.

Friday, April 8th 2011 - 22:10 UTC

Shell moves heavily into bio-fuels from sugar cane bagasse in Brazil

Brazil is one of the world’s leading producers of sugar cane and bio-fuel

Royal Dutch Shell Plc, the world’s biggest distributor of bio-fuels, is shifting research to waste from sugar-cane farming after ending an algae project in Hawaii. Shell, Iogen Corp. and Codexis have been researching enzymes to produce cellulose ethanol from wheat stalks and sugar-cane bagasse, a sugar industry waste product.

Friday, April 8th 2011 - 07:32 UTC

Brazilian inflation remains untameable; Real hits a new high

Alexandre Tombini, president of the Central Bank that is expected to raise borrowing costs another 50 basis points to 12.25% at the end of the month

Brazilian inflation accelerated more than economists expected in March from a year earlier, led by food and transportation costs, taking the annual rate near the upper limit of the government’s target range. On Thursday the Brazilian currency Real also further strengthened to a record 1.58 to the US dollar in spite of the latest measures.

Friday, April 8th 2011 - 07:27 UTC

Brazil doubles tax on consumer credit to fight inflation

Average rate on consumer loans in Brazil stood at 43.8% in February

Brazil doubled a tax on consumer credit as the administration of President Dilma Rousseff’s shifts its focus to fighting inflation. Beginning Friday consumer loans, excluding mortgages, will be subject to a 3% annual tax, up from a previous rate of 1.5%, according to a Finance Ministry statement.

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