Brazilian President Lula da Silva's ruling Workers Party, PT, appeared to have held its ground in municipal elections on Sunday but did worse than expected in Sao Paulo, the country's largest city and the main prize of the day.
Brazilians on Sunday will go to the polls to elect mayors and city councils in more than 5,500 municipal areas. It will be the last significant electoral test in South America's largest country before the presidential elections in 2010.
Brazil's currency may not strengthen to previous levels because of ongoing global market turmoil and the government may use international reserves to increase liquidity, the finance minister said on Friday.
Brazil said the recent deision by Justice Ministers to support the European Pact on Immigration and Asylum reinforces a negative predisposition and allows forms of control that when applied may probe arbitrary or contrary to human rights.
Brazilian Air Force announced on Wednesday it had chosen US Boeing Co., France's Dassault and Sweden Saab as finalists in a tender for the purchase of 36 fighter jets, part of a fleet renewal.
Brazil's largest sugar and ethanol cooperative Copersucar said on Wednesday it had become a company and plans to triple its production in the next ten years. Founded in 1959 Copersucar expanded operations and became one of the world's biggest private exporters of sugar and ethanol.
Brazil's Real plummeted the most in nine years, weakening past the 2-per-dollar level, as a direct consequence of the US House of Representatives rejection of the 700 billion US dollars bailout package for the financial system.
The conclusion of the prolonged World Trade Organization Doha round talks could be delayed for another two to three years if world leaders don't reach a significant advance this year, warned Brazil's Foreign Affairs minister Celso Amorim.
Brazilian President Lula da Silva blamed the United States for the global financial crisis and said its financial bailout plan was unfair to poor people.
Brazil's oil and gas government managed corporation Petrobras announced the proven presence of oil in a well south of the Santos Basin, in sandy reservoirs above the salt layer. The discovery confirms the good light oil potential in the shallow water portion of the basin, said Petrobras in a brief release from last Friday.