Brazil

Brazil
Monday, August 11th 2014 - 08:11 UTC

Brazil oil output at record 2.246m bpd in June: 6.9% higher over a year ago

Around 90% of the oil and natural gas output originated from oilfields operated by Petrobras

Brazilian oil output reached a record 2.246 million barrels per day (bpd) in June and exceeded the previous record of 2.231 million bpd in January 2012, the National Agency of Petroleum (ANP) reported. Output is up 2.6% from May 2014 and 6.9% June on June.

Monday, August 11th 2014 - 08:06 UTC

Brazil's July inflation surprises and slows to 0.01%, and 6.5% in twelve months

Lower airfares, food and fuel prices helped lower inflation, says IBGE

Brazil's Broad Consumer Price Index (IPCA) ended July at 0.01%, the Brazilian Geography and Statistics Institute (IBGE) reported. This figure reflects a decrease compared to June (0.4%) with transport and personal expenses items, contributing for the reduction.

Friday, August 8th 2014 - 07:59 UTC

Brazil insists in trade agreements and closer ties with Pacific Alliance, despite Mercosur

“Brazil's trade strategy targets productive integration with Latin America and multilateral agreements with EU US and China” says minister Borges

Brazil confirmed that it will try to bring forward to 2016 the free trade agreement with Chile, Peru and Colombia, scheduled for 2019 and underlined the need for Mercosur and the Pacific Alliance to converge as part of the region's productive integration process.

Thursday, August 7th 2014 - 08:10 UTC

Rousseff claims EU has yet to agree on a proposal to exchange with Mercosur

“Stop blaming us because we are ready, we have our proposal ready”, Rousseff told the lobby of Brazilian farmers

President Dilma Rousseff claimed before the Brazil's farmers lobby that the trade agreement between Mercosur and the European Union is stalled and is not fulfilled because of the 'resistance' from several European countries, and specifically named France, Hungary and Ireland.

Thursday, August 7th 2014 - 07:26 UTC

Brazil's July auto output and sales plummet 20.5% and 13.9% compared to 2013

Brazil's auto industry, which makes up a fifth of the country's manufacturing output, has slashed production by 16% in the first seven months of the year

Auto production in Brazil during July dropped 20.5% from a year earlier, national automakers' association Anfavea said on Wednesday, while sales slid 13.9%. Compared to June, production rose 17% and sales 11.8%, as July had an additional two working days.

Wednesday, August 6th 2014 - 07:57 UTC

Brazil denies any 'stagflation' and forecasts economy with 'reasonable' growth level in 2015

According to Tombini, the government is ensuring financial stability, “known as macro-prudential measures.”

Brazil is far from stagflation, central bank chief Alexandre Tombini said on Tuesday, forecasting the economy will pick up speed and inflation will ease in coming months. In similar terms Economy minister Guido Mantega said the economy should pick up in the second half of the year after a slow start and hit more “reasonable” growth levels in 2015.

Wednesday, August 6th 2014 - 07:46 UTC

Briton involved in World Cup tickets scam released from jail but must remain in Rio

Whelan has been charged with fraudulently selling 1000 tickets per World Cup match, allegedly worth tens of millions of dollars

British World Cup ticketing executive who allegedly took part in a scam to sell millions of dollars worth of fraudulent tickets was ordered to be released from prison Tuesday while awaiting trial in Brazil.

Monday, August 4th 2014 - 07:41 UTC

Trying to gauge the impact of Argentina's situation in Mercosur partners

Hotels and other tourist attractions in Punta del Este are bracing for a slow summer season after Argentina’s refusal to pay holdout bondholders.

Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.

Monday, August 4th 2014 - 07:16 UTC

Brazilian auto industry drops 36% in June and drags industrial output

The official excuse is that June/July were the months of the World Cup when many industries gave additional holidays

Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.

Saturday, August 2nd 2014 - 08:46 UTC

Brazilian media call Cristina Fernandez, “inept, arrogant and incompetent”

No mercy for Cristina Fernandez and the Marxist professor of populist heterodox economic policies

The leading Brazilian newspapers blasted Argentine president Cristina Fernandez as the sole responsible for the 'default event' which followed the failure of negotiations with holdouts in New York. This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government.

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