When toymaker Estrela decided to move manufacturing capacity back to Latin America from China, it sank US$ 2 million into a new factory not in its native Brazil - the region's largest economy - but in its tiny southern neighbor Paraguay. The plant, which opened this month in the border town of Hernandarias, stands near a 4,500-hectare industrial park filled with Brazilian companies making everything from auto parts to clothing.
A team or Argentine and Chilean experts have visited Czech and British bases in Antarctica as part of the routine inspection of environment and security operations, in the framework of the Antarctic Treaty. The Argentine foreign ministry reported that the inspections took place for the second consecutive year between 19 January and 25 February.
Brazil cut its key interest rate further on Wednesday to try to prop Latin America's biggest economy out of its worst recession in a century. The country's central bank cut the benchmark rate by 0.75 percentage points to 12.25%, still one of the worlds highest.
President Donald Trump has become one of the new stars of Brazil’s Carnival, with masks of his face on sale in the costume stores in Sao Paulo and appearing everywhere at the street fetes preceding the “world’s biggest party,” which starts this weekend.
Brazil's Foreign Minister Jose Serra resigned citing health concerns, in a new blow to Michel Temer's administration. Serra, 74, said health problems made him unable to keep up with the rhythm of leading the foreign ministry of Latin America's biggest nation.
Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine into products like gasoline and diesel.
Brazil has decided to permanently sideline its sole aircraft carrier, the flat-top São Paulo. The Brazilian government has said the cost of updating the ship and purchasing new planes was prohibitive and will seek to replace them in the future. The decision underscores the point that aircraft carriers are a rich country's game.
Ever so dependent on the Armed Forces to keep law and order, the Brazilian government has exempted the military from a far-reaching pension reform. Following Congress's approval of a public spending cap late last year, the government of President Michel Temer is pushing ahead with a broad pension reform as the next stage of its austerity agenda.
Mexican politicians are saber rattling against the US agriculture sector, and it looks like Argentina is ready to fill the gap. In effect Mexico's agriculture minister said on Thursday he will lead a business delegation to Argentina and Brazil to explore buying yellow corn, part of a drive to lessen Mexico's U.S. dependence given uncertainty over President Donald Trump's trade policies.
Conab, the Brazilian crop supply agency lifted its forecast for the second-season corn crop by some 2.5m tons, citing good weather. Conab forecast the Brazilian safrinha crop, which is sown after soybeans are harvested, up 44% year-on-year, to 58.59m tons. This compares to the 56.10m tons Cobab forecast in January.