Brazil

Brazil
Friday, November 7th 2014 - 22:44 UTC

Despite Rousseff, extreme poverty grows for the first time in a decade

Between 2001 and 2012 Brazil cut extreme poverty from 14% of the population to 3.5%, according to the United Nations State of Food Insecurity report

The number of Brazilians living in extreme poverty grew for the first time in a decade, according to government figures. The Institute of Economic Research reported that the number of people in households with incomes below the poverty threshold of 30 dollars rose from 10.1 to 10.5 million people, which means a 3.7% increase.

Wednesday, November 5th 2014 - 04:06 UTC

“Mercosur and Pacific Alliance are not contradictory competing blocks”

Minister Cespedes is confident that Mercosur and the Pacific Alliance are consistent in their integration goal

Mercosur and the Pacific Alliance are not contradictory competing blocks, and can advance towards a mutually beneficial convergence, said Chile's Economy minister Luis Felipe Cespedes during a trade and investment promotion seminar in Brazil.

Tuesday, November 4th 2014 - 09:22 UTC

Brazil with the largest trade deficit for October in 16 years

China was the largest customer for Brazilian exports in the first 10 months of 2014, with purchases worth 36.7 billion

Brazil ran a trade deficit of 1.17 billion last month, the largest shortfall for October in 16 years, the government said on Monday. Imports totaled 19.5bn, while exports amounted to 18.3bn, the Ministry of Development, Industry and Foreign Trade said in a report.

Tuesday, November 4th 2014 - 04:53 UTC

Bankers' names for Finance minister in Rousseff's next government

Trabuco Cappi is the CEO of Brazil's second largest private bank

Brazilian banker Luiz Carlos Trabuco Cappi, president of Bradesco, turned down an invitation from president Dilma Rousseff to occupy the Finance ministry as of next January first. According to the Sao Paulo financial publication Valor, there was no insistence on the issue from political sources.

Monday, November 3rd 2014 - 11:14 UTC

President Dilma Rousseff's re-election exposes a divided Brazil

“I do not think these elections have cut the country in two,” Rousseff insisted after her win.

The re-election of President Dilma Rousseff's in Brazil has exposed a deeply divided country with an overwhelming support for the incumbent in the impoverished northeast, where millions receive benefits from huge welfare programs the ruling Workers Party (PT) has rolled out over the past decade.

Monday, November 3rd 2014 - 09:11 UTC

Argentina and Brazil elected to the UN Economic and Social Council

ESOCOC has 54 members which are elected respecting a regional balance

Argentina and Brazil were elected by the United Nations General Assembly as members of the UN Economic and Social Council, ESOCOC for a period of three years beginning next January first. Argentina received 182 out of 186 votes.

Monday, November 3rd 2014 - 08:59 UTC

Brazil and Uruguay agree to bilateral trade in local currencies

The money rate exchange for the operations will be published on a daily basis by the central bank of each country

Brazil and Uruguay as of next December will be able to use local currencies in bilateral trade, disregarding appealing to US dollars, based on the agreement signed last Friday between the central bank presidents of the two countries, Alexandre Tombini (Brazil) and Alberto Graña (Uruguay).

Friday, October 31st 2014 - 06:28 UTC

Petrobras consortium find high-quality oil at the Libra area, off Rio do Janeiro

Libra consortium  is composed of Petrobras (40%), Shell (20%), Total (20%) and China's CNOOC (10%)

The Petrobras-led Libra consortium has said that the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure.

Thursday, October 30th 2014 - 10:39 UTC

In a divided vote, Brazil's central bank raised the Selic rate 25 points to 11.25%

“Inflation risks have become less favorable since its last rate-setting meeting in early September”, said the Copom board headed by Alexander Tombini

In a surprise move and in divided vote (5 to 3), Brazil's central bank monetary board, Copom, decided to raise its benchmark Selic rate by 25 basis points to 11.25%. A majority of economists and analysts anticipated that the bank would opt to keep rates unchanged.

Thursday, October 30th 2014 - 10:33 UTC

The challenges faced by Dilma Rousseff

In rich states waiting for a change of course, Neves was the winner; in those living mostly of federal grants, Rousseff was victorious by an ample margin

In a strong editorial the influential Folha de Sao Paulo argues that Brazil's reelected President Dilma Rousseff must reestablish confidence to the nation, which is divided regionally and socially, must implement a fluid dialogue with productive Brazil because the economy needs changes and new faces, and must rule for all the country, because victory was the result of millimetrical dispute in Sunday's runoff.

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