Brazil's central bank raised interest rates by 75 basis points to 13% on Wednesday, lifting borrowing costs for the third time in four months in a bid to prevent resurgent inflation from undermining economic growth.
Brazilian president Lula da Silva extended an invitation to Latinamerican and Caribbean leaders to discuss regional integration and development in a meeting scheduled next December 16/17 in the northeastern city of Salvador. The announcement was made during a banquet to honor Trinidad and Tobago Primer Minister Patrick Manning.
Colombia and Brazil agreed on a cooperation and defense pact aimed at controlling the one thousand mile lawless common border which is regularly used by drugs and arms dealers as well as the cocaine-funded FARC rebel group.
The European Union has offered to cut its farm tariffs by 60% to kick-start trade talks in Geneva. EU trade commissioner Peter Mandelson urged Brazil, India and China to reciprocate by slashing their industrial tariffs. The EU previously offered to cut farm tariffs by 54%.
Experts from all over the world are discussing in Brazil about the rapid disappearance of the world's wetlands and its potential effect on global warming. The event organized by United Nations and Brazil's Federal University of Matto Grosso are taking place in Matto Grosso, next to what is considered the world's largest wetlands in the heart of South America, the Pantanal.
The presidents of Brazil and Colombia vowed Saturday to boost trade and investment between their nations ahead of crucial world trade talks this week. Brazilian President Lula da Silva urged Colombia and the region to increase trade ties so we aren't left dependent on a single partner, such as the US or European Union.
Brazilian offshore oil workers will end a five-day walkout on the original Saturday deadline, but warned they may call a new, nationwide strike against state oil company Petrobras next month. Petrobras issued a statement saying the strike and a later work slowdown by refinery workers had not affected production levels.
Brazil's oil and gas government managed corporation Petrobras announced on Tuesday that total production (domestic and abroad) in June reached a record of 2.412.155 barrels of oil equivalent per day, boed, which is 3.3% higher than a year ago and 2.3% over May 2008.
Brazil's 2008 harvest of cereals, legumes and oilseeds has been estimated in a record 143.6 million metric tons, which is 7.9% higher than the 2007 production (133.1 million metric tons) according to the June report from the country's Geography and Statistics Institute, IBGE.
Brazilian government managed oil and gas corporation Petrobras reacting to a labor strike which began early Monday announced that all but two out of 38 offshore platforms are extracting hydrocarbons.