Argentina has accused Brazil of not keeping to agreed “self regulated” bilateral trade understandings originally destined as an umbrella for Argentine industry, and instead has resorted to customs barriers which are delaying or impeding exports.
Brazilian central bank President Henrique Meirelles admitted “exuberant” investors might create an asset bubble in Latinamerica’s biggest economy.
Brazil's foreign reserves totaled 232.9 billion US dollars at the end of October, up from 224.2 billion at the end of September. In the first ten months of 2009, reserves were up 26.1 billion. Reserves ended last year at 206.8 billion.
Brazil's government managed oil and gas group Petrobras announced Wednesday it had signed a contract permitting the first payment from a 10 billion US dollar loan from China to help it finance upcoming investments.
The Brazilian opposition announced it will attempt to delay as much as possible the Senate vote on the incorporation of Venezuela to Mercosur which is scheduled to take place Wednesday following the approval by the Foreign Affaire committee last week.
French Defence minister Hervé Morin said that Argentina could increase its international influence following on the steps of Brazil, which is currently modernizing its military hardware and planning on the long term.
United States president Barak Obama has a special interest in the sale of 36 fighter aircraft Brazil has announced it plans to purchase and would consider a “disappointment” if the contract goes to any of its competitors (France or Sweden), said Ellen Tauscher Under Secretary for Arms Control and International Security.
Brazil has extended tax breaks on energy-efficient home appliances for three months in a bid to boost consumption and consolidate a rebound in Latinamerica's largest economy. The announcement was made last week by Finance Minister Guido Mantega and becomes effective this month.
Brazil's government managed oil company Petrobras said on Friday that it had concluded a deal with Venezuela's PDVSA to construct and operate a refinery in northeast Brazil.
Brazilian Minister of Development Industry and Trade, Miguel Jorge confirmed Thursday that the Brazilian government is requesting non automatic licenses for some imports from Argentina, but denied it was a reprisal because of similar measures imposed by Argentina.