The Petrobras-led Libra consortium has said that the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure.
In a surprise move and in divided vote (5 to 3), Brazil's central bank monetary board, Copom, decided to raise its benchmark Selic rate by 25 basis points to 11.25%. A majority of economists and analysts anticipated that the bank would opt to keep rates unchanged.
In a strong editorial the influential Folha de Sao Paulo argues that Brazil's reelected President Dilma Rousseff must reestablish confidence to the nation, which is divided regionally and socially, must implement a fluid dialogue with productive Brazil because the economy needs changes and new faces, and must rule for all the country, because victory was the result of millimetrical dispute in Sunday's runoff.
Swedish aerospace and defence firm Saab has finalised a 5.4 billion dollars order to sell 36 fighter jets to Brazil, one of the most valuable defence contracts up for grabs in an emerging market. Saab said in a statement the total order value for the NG Gripen jets, to be delivered between 2019 and 2024, was around 39.3 billion Swedish crowns (5.4 billion).
President Barack Obama on Tuesday telephoned Brazilian head of state Dilma Rousseff to congratulate her on her re-election, the White House said in a statement. Obama emphasized the strategic value of our bilateral partnership and reinforced his commitment to deepening our cooperation in areas such as commerce, energy, and other priority bilateral issues through our existing strategic dialogues.
Brazilian media has confirmed that Argentina is probing to join with Brazil in the procurement of 24 Saab Gripen NG fighters, following the recently signed bilateral cooperation agreement under the heading of “Aeronautic industry strategic alliance” (AEIA), which was discussed this month by the two countries defense ministers.
Private sector analysts are maintaining their 2014 growth forecast for Brazil's economy at 0.27%, the Central Bank said on Monday. GDP estimate was included in the Focus review, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
A sharp drop in Brazil’s financial markets signalled investors are unsure whether the newly re-elected President Dilma Rousseff will take the necessary steps to reinvigorate the country’s stalled economy.
The reelected President of Brazil Dilma Rousseff called President Cristina Fernandez on Monday to thank her Argentine counterpart for her message of congratulations following victory at the polls, as well as organizing a bilateral meeting in Australia during the G20 summit.
The Organization of American States (OAS) Secretary General, José Miguel Insulza, congratulated Brazilian president Dilma Rousseff, on her victory in Sunday´s election, and highlighted the exemplary character of the electoral process as well as wishing the Brazilian leader success in her new administration.