Brazil

Brazil
Saturday, August 2nd 2014 - 08:29 UTC

Brazil's ruling party expels representative for alleged ties with organized crime

Moura was elected representative for the PT in 2010 with 104,705 votes and is running for reelection in the upcoming October elections

Brazil's ruling Workers Party in Sao Pablo decided to expel representative Luiz Moura following his alleged ties to organized crime exposed by a police investigation. Criminal gangs in Brazil are powerful and are known to have connections with the political system.

Saturday, August 2nd 2014 - 08:18 UTC

Rousseff defends industrial policy and economy performance before the sector's lobby

The president pledged tax reform as a priority but admitted it must pass through Congress first

Brazilian President Dilma Rousseff, who hopes to be re-elected for a second term in October’s elections, has defended her government’s industrial policy in front of the sector’s business leaders, the National Confederation of Industry (CNI).

Friday, August 1st 2014 - 14:40 UTC

World Cup helped a higher than expected surge in beer sales in Brazil

AB InBev, which sold more than one in five beers drunk worldwide last year, also took advantage of Brazil's hosting of the soccer tournament

The maker of Budweiser, Stella Artois and Corona beers experienced a sharp surge in sales in Brazil during the World Cup with the month-long contest leading to consumption of an extra 140 million liters or 2 million barrels.

Wednesday, July 30th 2014 - 15:18 UTC

Sao Paulo faces water rationing; in 100 days the system could run dry

The key Cantareira water system, which provides water to some 9 million of the 20 million people metropolitan Sao Paulo city, has less than 16% of its capacity

Federal prosecutors have asked the government of Sao Paulo to present water rationing plans for Brazil's most populous state to prevent the collapse of its main reservoir. If such plans are not presented in 10 days, the prosecutor's office said on its website it may ask courts to force rationing.

Monday, July 28th 2014 - 07:43 UTC

Brazilian Jewish community apologizes to President Rousseff's administration

Israel's Foreign ministry Yigal Palmor called Brazil a 'diplomatic dwarf” and politically irrelevant

Brazil’s Jewish community apologized to the administration of Brazilian President Dilma Rousseff for statements by the spokesman of Israel’s foreign ministry after Brazil recalled its envoy over the Gaza conflict.

Saturday, July 26th 2014 - 06:24 UTC

Santander apologizes to President Rousseff for leaking 'political bias' comments

The report said that ”the (Brazil) economy would worsen if President Rousseff’s chances of being re-elected stabilized or improved”

Banco Santander Brasil SA, apologized for a note sent to some of its high-income clients in Brazil saying the economy would worsen if President Dilma Rousseff’s chances of being re-elected stabilized or improved.

Saturday, July 26th 2014 - 06:18 UTC

Brazilian auto industry putting workers on paid leave as production plummets 10%

General Motors put 940 workers at the same factory on paid leave in 2012, and the union said 598 of them were later fired

General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said this week, amid falling output in Latin America's largest economy.

Friday, July 25th 2014 - 06:22 UTC

Brazil wants to speed Mercosur/Pacific Alliance free trade understanding

Ferreira Simoes said the issue would be discussed at the coming Mercosur summit in Caracas

Brazil will propose next Tuesday, in Caracas, during the Mercosur summit that the group and the Pacific Alliance reach an agreement on free trade by the end of the year, according to official sources from Itamaraty.

Thursday, July 24th 2014 - 23:34 UTC

Brazil's priority is curbing resistant inflation, say central bank minutes

The central bank kept its benchmark Selic rate on hold at 11% for the second straight time last week

Brazil's central bank indicated on Thursday it is unlikely to cut interest rates any time soon and instead is focused on curbing resistant high inflation even as the economy flirts with recession. In the minutes of its last policy meeting, the bank stressed that interest rates at current levels should help ease inflation in coming years.

Tuesday, July 22nd 2014 - 09:00 UTC

Mercosur has 'yet to crystallize' but 'I remain positive' says Cardoso

The former Brazilian president claims points to the common external tariff as the main obstacle

Former Brazilian president Fernando Henrique Cardoso said that Mercosur has 'yet to crystallize as a customs union' and pointed to the common external tariff which is the founding stone but is “full of objections” as the main hurdle. Nevertheless “I remain positive about the strength of Mercosur”.

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