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.
Brazil has become Argentina's leading investor with growing interests in the country's oil and cement industries, mining and steel, textiles, cosmetics,transport, banks, food and beverages according to a study on the internationalization of Brazilian companies in Argentina.
Consumer prices in Brazil rose in May at the fastest pace in more than three years, 0.79%, underscoring concerns about inflation pressures in Latinamerica's largest economy.
Brazil's Gross Domestic Product, GDP, expanded 5.8% in the first quarter compared to the same period a year ago, and 0.7% over the previous quarter, according to the latest release from the Brazilian Statistics and Geography Institute, IBGE.
Brazilian aircraft manufacturer Embraer confirmed on Friday it had sold a propeller-driven fighter plane to a unit of Blackwater Worldwide, the world's largest private defense services company, and said it would not be used for operations in Iraq.
Brazil's Central bank raised its benchmark interest rate this week for the second time in less than two months to curb resurgent inflation and prevent overheating of the world's tenth biggest economy.
Brazilian president Lula da Silva said that over 800 million people every night go to sleep feeling hungry which is an insult to humanity and blamed the intolerable protectionism of wealthy countries that insulate their farming sectors.
Brazilian aircraft manufacturer Embraer is participating in preliminary negotiations to sell the U.S. government eight 314-B1 Super Tucano light attack and training planes for use in Iraq, the company said Monday, according to press reports from Brazil.
The United States has lost its final appeal in a billion US dollar trade dispute with Brazil over subsidies to US cotton growers. A World Trade Organisation appeal panel upheld on Monday a ruling from December that found the US had breached trade rules over its subsidies to cotton farmers.