Brazil's Central Bank on Wednesday cut the basic reference interest rate Selic by 25 points to 12.75%, in line with market expectations and government promises of a more flexible monetary policy
Brazil's government managed oil company Petrobras and the Japan Bank for International Cooperation signed Monday in Rio do Janeiro a memorandum of understanding on bio-fuels announced Monday, Petrobras.
Brazilian President Luiz Inácio Lula da Silva said Monday that during his meeting next Friday with United States President George W. Bush he does not intend to talk about Venezuela, but about trade and biofuels.
The world's two top ethanol producers, United States and Brazil, announced the creation of an international forum to help turn biofuels into a globally traded commodity, just days before the two countries are expected to sign a separate agreement promoting the industry across the Western Hemisphere.
Brazil's economy expanded 2.9% last year compared to 2.35% in 2005 according to the latest official release on Wednesday. In the fourth quarter GDP increased 1.1% over the third quarter and 3.8% over the same period in 2005, reported the Brazilian Institute of Geography and Statistics.
Brazil would like to see the current relation with United States become something positive for South America and expects that Washington's renewed interest in the hemisphere is based on cooperation and not in the old intervention style, said Friday Brazilian Foreign Affairs minister Celso Amorim.
Our hemisphere has major oil exporters, such as Canada, Mexico and Venezuela; and oil importers, such as the United States, Chile, Uruguay and nearly all the smaller countries in Central America and the Caribbean.
Repsol YPF chairman Antoni Brufau on announcing Tuesday the discovery in Libya of its largest ever oil field and lower profits in 2006, admitted that the company was looking for another shareholder for its Argentine branch YPF.
Gazprom and Brazilian oil company Petrobras have signed last week an agreement on hydrocarbon cooperation, the Russian energy giant revealed in a news release Monday.
Brazilian president Luiz Inacio Lula da Silva will be arriving Monday for a one day fence mending visit to Uruguay where together with President Tabare Vazquez they will be addressing an agenda with several controversial issues