Chancellor of the Exchequer George Osborne MP on a three-day visit to Brazil announced on Monday that Rolls-Royce is to build a new £ 22 million Marine facility in Duque de Caxias, Rio de Janeiro.
Brazilian President Dilma Rousseff announced that the third stage of an investment plan, Growth Acceleration Program (PAC) will be launched in August, just two months ahead of an October presidential election in which she will seek re-election.
Brazil’s decision to hike its key interest rate to 11%, its highest level in two years, has again started to attract investors since there are also strong hopes that Brazil’s next president to be elected in October will rein in spending and adjust macroeconomic policies.
Brazilian President Dilma Rousseff's popularity has dipped five percentage points ahead of October's presidential elections, revealed a new poll published on Sunday. The Datafolha polling institute said 36% of respondents rated Rousseff's government as great/good against the 41% who gave it that rating in the firm's previous poll conducted in February.
The feeling of insecurity in Brazil's main cities peaked again last week when it was reported that a British oil worker had been shot dead by two men in Rio de Janeiro, a Scottish newspaper reported Saturday.
Friday came with a relief for Brazil when a leading economic pollster admitted to having committed a serious error in interpreting results released earlier saying that a majority of Brazilians supported the idea that women in revealing clothes deserve to be attacked.
Brazilian police say they have rescued 11 crew members working in slave-like conditions on an Italian cruise ship. The operation was carried out the north-eastern city of Salvador, where the MSC Magnifica had docked for the day with more than 3,000 passengers.
Brazil's Congress struck down this week a proposal to impose new taxes on the internal soy market after fierce opposition from the country's agricultural sector. An amendment to apply a tax known as PIS/Cofins on soybean sales to some domestic buyers had been removed from a bill to simplify taxation of Brazilian companies abroad that was passed by the lower chamber late on Tuesday.
Brazil's manufacturing activity expanded for the fourth straight month in March, though at a meager pace as growth in new orders cooled, a private survey showed. The HSBC Purchasing Managers' Index for the Brazilian manufacturing sector rose to a seasonally adjusted 50.6 in March from 50.4 in February. The 50 mark separates contraction from expansion.
Brazil's central bank raised its benchmark Selic rate to 11% from 10.75% on Wednesday, prolonging its tightening cycle after a surge in food prices that has stoked already high inflation in an election year. The bank's decision was unanimous and left the door open for possible further rate hikes.