Brazilian government-controlled oil company Petrobras is planning to invest 18 billion US dollars in the gas sector over the next four years, most of it in 2008, taking Brazil's current production from 27.5 million cubic meters in 2006 to 70 million cubic meters by 2011.
Brazilian beef exports netted 443 million US dollars in May, a new monthly record high according to the Brazilian Beef Industry and Exporters Association (Abiec). Shipments totaled 266.000 tons, up 28.6% over May 2006.
At the beginning of June Brazil lowered its key interest rate, Selic, to 12% a year, the lowest ever and the 16th consecutive reduction since September 2005. But still when inflation is taken into account, Brazil's benchmark real interest rate is 8.3%, the highest in the world followed by Turkey with 7.6%.
Brazil is revving up for an economic takeoff that could rival China and India according to Martin Weiss author of the New York investment newsletter Money and Markets who praised president Lula da Silva for having built the foundation for the launching pad.
Brazilian scientists claim to have established as a scientific fact that the Amazon is the longest river in the world. The Amazon is recognized as the world's largest river by volume, but has generally been regarded as second in length to the River Nile in Egypt.
The International Monetary Fund praised the performance and management of the Brazilian economy during the last few years and forecasted that the strong Brazilian currency, Real, offers more opportunities to open the economy both financially and commercially.
Brazilian police have formally accused a brother of President Luiz Inacio Lula da Silva of influence peddling after a nationwide crackdown on illegal gambling, money laundering and police corruption according to the Sao Paulo press.
Brazil's Central Bank on Wednesday shaved 50 points of the Selic reference interest rate which now stands at 12% a historic low and in line with market expectations.
Brazil that aspires to a permanent seat of the expanded UN Security Council along with India, strongly advocated the need for inclusion of great nations of the South in the global decision making bodies to create a more representative international order.
President Luiz Inacio Lula da Silva said Monday that rich nations should pay poorer countries to preserve their forests because the rich are responsible for most of the world's greenhouse gas emissions