Brazil's monthly inflation accelerated to its fastest pace in more than five years on rising wholesale prices for manufacturers. The IGP-M price index, Brazil's broadest measure of consumer, construction and wholesale prices, rose 1.98% in June, up from a 1.61% surge in May, according to the Getulio Vargas Foundation.
Brazil's Antimonopoly agency, CADE, finally approved the takeover of the once Brazilian flag carrier Varig by the low fare airline GOL, an operation which took place last year.
Brazilian meat processor Marfrig said on Monday it will pay 680 million US dollars for assets in Brazil and Europe owned by US based OSI Group, the largest meat provider for McDonald's fast-food chains.
Brazilian president Lula da Silva said on Monday that inflation in the country was under control, in spite of soaring world food prices and promised measures to further promote the production of grains, meats and milk.
Brazil will be announcing this week the annual investment plan in support for agriculture and livestock which is estimated to increase 12% totaling in the region of 40 billion US dollars, said Agriculture Minister Reinhold Stephanes.
Brazilian President Lula da Silva, cabinet ministers and his main economic advisors are considering a range of measures, (from budget cuts to pruning credit) with the purpose of curbing inflation according to Folha de Sao Paulo
The Brazilian press unanimously considered that Argentine president Cristina Fernandez de Kirchner back stepped in the 100 days dispute with farmers over export levies on oilseeds and grains.
Grain crushers have extended a two-year-old moratorium on the purchase of soybeans planted in areas of the Amazon rain forest cut down after 2006, Brazil's environment minister Carlos Minc announced this week.
Brazilian President Lula da Silva and the country's top banker said fighting inflation remains a top priority, the latest warning against surging consumer prices. Speaking to an audience of investors at the Sao Paulo stock exchange, Lula da Silva said the government is determined to stop short-term inflation pressures from becoming permanent.
Brazil's government owned oil corporation Petrobras announced Friday the discovery of yet another field of light oil, in ultra deep waters of Santos Basin. The well known as Guara in the BM-S-9 block encountered oil with specific gravity of 28o API in pre salt reservoirs, according to the official release.