Brazil

Brazil
Friday, July 4th 2014 - 07:00 UTC

Tragic overpass collapse resurfaces Brazil's World Cup spending controversy

Two people were killed, at least 23 injured and several vehicles crushed by the collapsing tons of concrete

Concerns over Brazil's World Cup preparations took a deadly turn on Thursday after a partially finished highway overpass collapsed on a road below, killing at least two people and wounding at least 23 others in Belo Horizonte, according to state health officials.

Thursday, July 3rd 2014 - 06:40 UTC

Brazilian industry contracts for the third month running in May

Brazilian manufacturing has remained largely unresponsive to a string of more than two dozen government stimulus initiatives

Brazilian industrial output fell for the third straight month in May despite efforts from government to prop manufacturing through stimulus measures. Industrial production in Brazil fell 0.6% in May from April, and 3.2% from the same month a year ago, and 1.6% in the five months of 2014, government statistics agency IBGE said on Wednesday.

Wednesday, July 2nd 2014 - 07:27 UTC

Two decades of the Real, the currency that helped Brazil trust financial stability

The Real was implemented when former president Fernando Cardoso was Finance minister of the Itamar Franco administration

Twenty years ago, first July 1994, after decades of financial turmoil, Brazil introduced its current currency, the Real, marking a turning point in the country's fight against hyperinflation.

Tuesday, July 1st 2014 - 07:41 UTC

Brazil extends tax breaks on car and furniture industries to boost economy

The car factories account for a fifth of Brazil's industrial output and are struggling with excess capacity and plunging consumer confidence.

Brazil will extend a tax break for the car and furniture industries until the end of the year to help boost sales depressed by a slowing economy, the government said on Monday. This measure should also help boost President Dilma Rousseff's bid for re-election next October.

Monday, June 30th 2014 - 06:30 UTC

Argentina, 'a key partner' of Russia says Putin ahead of his Buenos Aires visit

Putin will be at the World Cup final and at the BRICS summit in Fortaleza

As part of a broader South American tour, Russian President Vladimir Putin will be visiting Buenos Aires in July to lay the groundwork for joint projects between Russia and Argentina in the energy sector, including civilian nuclear technologies, military-technological cooperation and machine building.

Monday, June 30th 2014 - 06:23 UTC

“FIFA leaders are a bunch of old sons of bitches”, said Uruguay president Mujica

The incident took place at the Carrasco airport on arrival of the Uruguayan national football team from Brazil   (Pic TV12)

FIFA leaders are “a bunch of old sons of bitches” and could have imposed sanctions “but certainly not fascist sanctions” complained Uruguay's president Jose Mujica referring to the suspension suffered by Uruguay's scorer Luis Alberto Suárez who was banned for nine matches and with four months of complete football inactivity.

Saturday, June 28th 2014 - 10:23 UTC

Uruguay's coach resigns FIFA post to protest 'excessive' ban of Suarez

Tabarez said it is not “prudent” to be involved in an organization with “different values” than his own.

Uruguay coach Oscar Tabarez has resigned his post in the FIFA strategic commission over the federation’s decision to ban Luis Suarez from the World Cup after the forward bit Italy’s defender Giorgio Chiellini during a group stage match.

Friday, June 27th 2014 - 06:56 UTC

Mujica strongly supports Suárez and blasts FIFA: “they went too far”

“The fact is that we are small and our television rights are not worth much”,  pointed out Mujica.

Uruguay's president Jose Mujica blasted FIFA's Thursday decision to fine and suspend the country's main scorer Luis Suarez from any football activity for four months arguing the association that rules world football measures things with different rods, and since Uruguay “is a small country, it's cheap for them”.

Thursday, June 26th 2014 - 05:07 UTC

Brazil current account deficit in May posts a record; World Cup should help in June

Lavish spending by Brazilians traveling abroad have also contributed to the external account gap

Brazil had a current account deficit of 6.635 billion in May, above the previous record high of 6.356 billion for this month posted last year, central bank data showed this week. It was the widest on record for the month of May as Brazilians spent more on international travel and foreign companies sent profits and dividends abroad. Brazil's current account deficit in April was 8.291 billion.

Thursday, June 26th 2014 - 04:53 UTC

Job creation in Brazil down, but unemployment still at record lows

Minister Mantega has said that increasing productivity is one of the country's main challenges

Brazil's economy added a net 58,836 payroll jobs in May, the Labor Ministry said, which is the worst figure for May since 1992. Brazil added 105,000 jobs in April.

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