Friday, July 29th 2011 - 07:08 UTC

Repsol-YPF earnings hit by civil war in Libya and labour strikes in Argentina

The Spanish company is divesting from Argentina and increasing exploration off-shore Brazil

Repsol-YPF, Spain’s largest oil company, said second-quarter earnings fell 7.3% after refining margins narrowed and output declined because of the civil war in Libya and strikes in Argentina.

Friday, July 29th 2011 - 06:40 UTC

World Cup set to boost Brazil’s GDP by 1.5%, estimates the country’s main bank

Economist Goldfajn says 250.000 new jobs will be created in infrastructure works

The three-year build-up to the 2014 soccer World Cup is set to boost Brazil’s economy by 1.5% of GDP, according to Ilan Goldfajn, chief economist of the Itau Unibanco Holding, Latin America’s largest bank by market value.

Friday, July 29th 2011 - 06:32 UTC

Claims China is ‘circumventing’, via US, to avoid Brazil anti-dumping tariffs

Allegedly Shanghai goods are re-labeled ‘Made in USA’ in Los Angeles and shipped to Mercosur

Brazilian newspaper Estado de Sao Paulo revealed documents from Chinese company Sun Falcon International Inc. offering triangulation scheme through Los Angeles port, the busiest container port in the US, to avoid Brazilian anti-dumping tariffs.

Friday, July 29th 2011 - 06:27 UTC

Brazil has not been ‘soft’ on Argentina and on imports from China

Alessandro Texeira: you can’t have it both ways, liberal and protectionist

Brazilian officials brushed aside claims from exporters that the country has been ‘soft’ on Argentina and on imports from Asia, mainly China, arguing that trade figures indicate something different and “you can’t have it both ways, liberal and protectionist”.

Friday, July 29th 2011 - 06:25 UTC

Rio’s Maracana stadium will host the 2014 World Cup final

The stadium is famous because in the 1950 World Cup Brazil suffered a shock final loss to Uruguay

Rio de Janeiro's famous Maracaná stadium will host the final of the 2014 World Cup in Brazil, FIFA secretary general Jerome Valcke indicated Thursday, pending formal ratification of the decision at FIFA executive committee meeting in October.

Wednesday, July 27th 2011 - 19:28 UTC

Brazil intervenes the derivatives markets in a bid to weaken the Real

“More to come, if necessary” said Mantega who said measures were triggered to combat speculation

Brazil imposed on Wednesday a tax on bets against the US dollar and warned it may boost intervention in the nation’s derivatives market in a bid to weaken a currency that reached a 12-year high this week. The Real declined by the most in almost three months at times loosing up to 2% to the US dollar.

Wednesday, July 27th 2011 - 04:49 UTC

Brazil’s development bank lends 30bn dollars at subsidized rate in five months

Infrastructure and industry, the most benefited with the soft loans

Lending by Brazil’s BNDES (National economic and social development bank) totalled 43.5 billion Real (29bn dollars approx) in the first five months of the year, representing a contraction of 6% compared to the same period in 2010, according to a bank’ release.

Wednesday, July 27th 2011 - 03:59 UTC

“Dilma is completely able of running the country”, says Lula da Silva

Lula da Silva, helping or further exposing Dilma’s weaknesses?

Brazilian former president Lula da Silva criticized rich countries for their roll on the current economic crisis that has been changing the world’s economic map and once again came out forcibly in support of President Dima Rousseff.

Tuesday, July 26th 2011 - 20:58 UTC

Brazilians with a strong currency travelling overseas as never before

Airports and airplanes packed with Brazilians on a spending spree  (Photo AP)

With the currency ever so strong against the US dollar Brazilians are travelling overseas and spending as never before, according to the latest figures from the Central Bank.

Tuesday, July 26th 2011 - 19:13 UTC

Brazil second scientific station in Antarctica, 500 km from the South Pole

Professor Jefferson Simoes

Brazil is planning to set up its second scientific station in Antarctica and its first fully automatic data collecting module close to the Southern pole, revealed Jefferson Simoes coordinator of the country’s National Science and Technology Institute.


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