Brazil

Brazil
Thursday, September 11th 2014 - 17:00 UTC

There are two Mercosur, but only the ideological one prevails

The ideological Mercosur is limited to a political board of three. Brazil, Argentina and Venezuela, “the original Mercosur is over” indicated Magnoli

The original Mercosur is over; it has been reduced to a political block with a three member board, Brazil, Argentina and Venezuela, according to Demetrio Magnoli a renowned Folha de Sao Paulo columnist who added that the 'political' Mercosur has helped the Alliance of the Pacific to advance.

Wednesday, September 10th 2014 - 05:01 UTC

Moody's lowers Brazil's sovereign bond rating to 'negative' from 'stable'

However, the risk rating agency affirmed its rating on Brazil's government bond at 'Baa2', citing the country's continued resilience to external financial shocks.

Moody's Investors Service lowered its outlook on Brazil's government bond rating to 'negative' from 'stable', saying the country's sustained low economic growth and worsening debt metrics reflected a risk of reduced creditworthiness.

Tuesday, September 9th 2014 - 03:27 UTC

Dilma confirms Finance minister Mantega is stepping down in October

“Guido has already told me that he cannot stay in the government for a second term due to personal reasons, which I ask you to respect,” said Rousseff

President of Brazil Dilma Rousseff has affirmed that current Finance minister Guido Mantega will not carry on in his post should the Workers' Party (PT) candidate win a second term as head of state in October's presidential elections.

Monday, September 8th 2014 - 06:44 UTC

Petrobras corruption allegations smear Brazil's political system a month ahead of elections

Paulo Roberto Costa, who was sentenced to 30 years in jail allegedly, is in negotiations with federal authorities by naming other culprits

A jailed former executive at state-controlled oil giant Petrobras Paulo Roberto Costa has reportedly implicated dozens of politicians from Brazil's leading political parties in a kickback scheme, a legal development that could shake up next month's general election.

Monday, September 8th 2014 - 05:56 UTC

Dilma pledges new economic policy and team if she wins: bye, bye Mantega

 “I won't speak of appointments, but a new government will require a new staff. I have no doubt about that,” said the Brazilian president

Brazil’s President Dilma Rousseff has hinted that if re-elected next month, she would not reappoint Finance Minister Guido Mantega. When reporters in Fortaleza asked Rousseff about Mantega’s role if she were re-elected, she responded that, “A new election means a new government, a new team.”

Saturday, September 6th 2014 - 06:27 UTC

Brazil's industrial activity shows the economy if far from a strong recovery

The poor showing “is caused by a strong retraction in investment and recent industrial data,” said CNI economic policy manager, Flavio Castelo Branco.

Industrial-activity data released this week added to worries that Brazil's economy, already in recession, is far from a strong recovery. The trade group National Confederation of Industry, CNI, said revenue for the Brazilian manufacturing sector fell 5.1% in July from a year earlier and rose 1.2% from June.

Saturday, September 6th 2014 - 03:04 UTC

Marina Silva's lead turns Dilma more aggressive in her re-election bid

Rousseff has seen her approval ratings plummet, leading many to wonder whether the Workers Party will be swept aside after 12 years in power.

Brazilian President Dilma Rousseff has adopted a more combative re-election campaign strategy after opinion polls showed her trailing popular environmentalist candidate Marina Silva. Two election surveys this week showed Rousseff was the frontrunner in the first round ballot scheduled for October 5, but would lose to Silva, a former environment minister, in a likely runoff.

Friday, September 5th 2014 - 02:14 UTC

Brazil leaves basic interest rate unchanged at 11%, given 'inflation prospects'

“Assessing the evolution of macroeconomic scenario and the inflation prospects”, Copom unanimously decided to maintain the Selic rate at 11%

With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting.

Tuesday, September 2nd 2014 - 22:45 UTC

Argentina/Brazil bilateral trade drops to 2010 level. Auto industry hardest hit

 Vehicles, auto parts, tractors, engines were among the items which experienced the greatest contraction in bilateral sales

Bilateral trade between Mercosur leading partners Argentina and Brazil plummeted 27.6% in August and 22% in the last twelve months, according to Buenos Aires consultants, Abeceb. Recession in Brazil plus strict Argentine trade restrictions and slower domestic demand has contributed to the results.

Monday, September 1st 2014 - 14:05 UTC

Ascending Marina Silva ties with Dilma and polarizes the 5 October election

Silva has surged to 34% support from 21% in a previous Datafolha poll conducted before she launched her candidacy

Presidential candidate Marina Silva has widened her lead over President Dilma Rousseff to 10 percentage points in what could be a likely runoff in Brazil's October election, a survey by polling firm Datafolha showed on Friday.

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