Brazil's recently named Environment Minister pledged Monday to aggressively fight illegal logging and deforestation in the Amazon rain forest. Former Rio de Janeiro state Environment Secretary Carlos Minc is expected to take the post on May 27.
Brazil's Real rose to a nine-year high as the US dollar slumped and investor demand for commodities and higher-yielding assets increased. Last April 30 Standard & Poor's upgraded Brazilian debt sending the Real and the Sao Paulo Bovespa stock index to new records.
Brazil's Central bank chairman Enrique Meirelles said this week that the bank is ready to cap pressure on prices with the purpose of keeping inflation under control even when this could impact on the strong economic growth of the economy.
Brazil's Foreign Affairs minister Celso Amorim said that South America would never accept separatism in Bolivia and underlined that any autonomy must be negotiated with La Paz, reports O'Globo.
Sugar cane and cane-based ethanol became a more important energy source than hydroelectric power in Brazil's overall energy production last year, topped only by petroleum and oil products according to a report from the government's energy planning agency, EPE.
Brazilian Consumer Prices Index experienced its biggest increase in four months in April, 0.55% (up from March's 0.48%) because of higher food costs, according to the Brazilian Geography and Statistics Institute, IBGE.
Brazil's Finance Minister Guido Mantega announced in Brasilia that the government is working on creating a sovereign wealth fund of as much as 20 billion US dollars. The fund would help finance overseas investment and acquisitions by Brazilian companies.
Japanese and South Korean corporations announced their interest in Brazil's first bullet train which is expected to be set to bid in the first quarter of next year. Brazil's cabinet chief Dilma Rousseff is currently visiting Japan where she was approached by the corporations.
A delegation of 12 European Members of Parliament are currently in Brazil to assess livestock and beef conditions, and the bio fuels industry. The visit is considered significant because Brazil has only just managed to resume beef exports to the EU after Brussels imposed last February a temporary ban based on sanitary rules.
Brazilian Finance Minister Guido Mantega this week announced a 10% hike in the price of gasoline and 15% for diesel fuel, the first such increase since 2005. The increases refer to products from Petrobras, the country's government owned oil corporation which sets the pace for the rest of the industry.