Emilio Botin president of Santander, Spain’s largest bank and one of the leading EU financial institutions said that Brazil is the top priority for the group since it is the source of 30% of its global earnings and anticipated the opening of more branches in merit to the country’s economic stability and social progress.
External competitiveness of Uruguayan goods dropped for the sixth month running in April because locally produced goods’ prices in US dollars dropped less than those of its main trade partners according to figures released by the Central bank.
Etihad Airways, United Arab Emirates flag carrier has unveiled plans to fly to Brazil, the airline’s first South American destination. The daily Sao Paulo flights, which are expected to start in June 2013, will be the first direct air link between Abu Dhabi and any South American country.
Illegally smuggled into Brazil 14 years ago, transgenic soy has proved a boon to domestic farmers and now accounts for 85 percent of total production. But five million Brazilian farmers are now locked in a legal feud with US biotech giant Monsanto, the GM soy seed manufacturer, and are refusing to pay crop royalties.
Latin America is one of the few regions of the world where agriculture production can expand since it holds 42% of that potential globally, said Victor M. Villalobos Director General of the Inter American Institute for the Cooperation on Agriculture, IICA.
Brazil's economy barely expanded in the first quarter as frustrated business leaders cut back on investments, casting new doubt on the health of emerging markets.
Brazil's former President Lula da Silva admitted during a television interview that he will be presidential candidate in the 2014 elections if current Head of State Dilma Rousseff does not run for re-election.
Brazil’s industrial output unexpectedly contracted for a second straight month in April even as the government steps up measures to boost economic growth.
Lazard Ltd. announced this week the appointment of Henrique Meirelles as Chairman, Lazard Americas, effective immediately. Meirelles was former President of the Central Bank of Brazil.
Jaguar Land Rover, the luxury car unit of India's Tata Motors has followed Germany's BMW AG in suspending plans to build a new plant in Brazil as tax changes and slowing growth have given premium auto makers cold feet about investing in a potentially lucrative market.