Brazilian officials say inflation in January was the highest monthly jump in almost six years. The government's IBGE statistics bureau said that January inflation was 0.83%, the biggest monthly jump since April 2005, when inflation was 0.87%.
Brazil announces 50 billion Real (30 billion US dollars) cuts from this year’s budget as President Dilma Rousseff seeks to help the central bank contain inflation and lower some the world’s highest real interest rates.
Global commodity prices continue to be the main driver of inflation in both Brazil and Chile, according to the latest Latin America update report from Capital Economics.
Brazil expects Venezuela’s full incorporation to Mercosur to be approved “soon” said Foreign Affairs minister Antonio Patriota during a meeting on Monday in Caracas with his peer Nicolas Maduro in Caracas to reaffirm strong bilateral links.
US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.
Brazilian policy towards Middle East and the Arab world harm US strategy in the region according to US embassy diplomatic cables between 2004 and 2009, recently exposed by Wikleaks.
A fire has broken out in the carnival district, Samba city, of the Brazilian city of Rio de Janeiro, destroying warehouses where floats are made, reports say. At least four warehouses, a samba school and a carnival museum have been damaged in the blaze at Samba City.
Rio do Janeiro police with the support of the Navy, other security agencies and armoured personnel vehicles in an flash operation on Sunday occupied nine “favelas,” or shantytowns dominated by drug gangs and did so “without a single shot,” officials said.
Brazil with a defence market described as “one of the fastest growing in the world” will be signing a defence agreement with the UK which should open the way for a deal worth “billions of dollars”, according to reports in the Brazilian and UK media.
United States Treasury Secretary Tim Geithner will visit Monday Brazil to discuss economic cooperation. Geithner is scheduled to return on the same day.