A day alter Sunday's municipal election Brazilian president Lula da Silva called for national union and promised to work with the winning mayors and councillors no matter what party they belong to.
Brazil's ruling party and President Lula da Silva suffered a serious blow Sunday in the country's main city Sao Paulo where incumbent conservative mayor Gilberto Kassab comfortably won a second period defeating Marta Suplicy in the run off by almost twenty points.
Sao Paulo Alpargatas, Brazil largest textile and Footwear Company announced Friday the acquisition of Alpargatas Argentina, turning the consolidated company into a bi-national corporation leader in its sector in Mercosur and Latinamerica.
Brazil has sent a strong message to those (restless) neighbours that could threaten the country, according to reports in the Sao Paulo press.
Brazil's central bank said Wednesday it would pump the equivalent of 50 billion US dollars into currency markets to stem a two-month tumble in the Real that is threatening companies and stoked inflation.
Brazil was forced to appeal to 22.9 billion US dollars in the past month, including sales of foreign reserves, derivatives and loans to prop the weakened Real punished by investors fleeing from emerging markets to more secure assets.
Brazil's government managed oil and gas corporation Petrobras set a new production record in September with 1.897.563 barrels/day, surpassing the volume extracted in the previous month by 12.400 barrels, or 1%. Compared to a year ago, the increase was 7.26%.
Brazil's central bank will offer credit lines in foreign currencies as of next week in a bid to ease a credit crunch afflicting the country's exporters, the bank's president, Henrique Meirelles announced on Friday.
The leaders of India, Brazil and South Africa criticized rich countries for failing to act quickly to prevent the global financial meltdown. At a summit in New Delhi, they urged Western nations to manage the crisis in a manner that will not hurt their developing economies.
Brazilian shares plummeted more than 10% on Wednesday, triggering a trading halt, as mounting fears of global recession battered markets worldwide.