Brazil

Brazil
Friday, July 18th 2014 - 07:45 UTC

Brazil leaves basic interest rate unchanged at 11%; no surprises expected ahead of October election

Disappointing growth data is expected to keep the central bank, led by Alexandre Tombini, from raising interest rates for the rest of 2014

Brazil held interest rates unchanged for a second straight time this week but did not commit to keeping them stable for long as inflation remains high in Latin America's top economy. The Brazilian economy performance is anemic and next October president Dilma Rousseff is bidding for re-election.

Thursday, July 17th 2014 - 07:27 UTC

BRICS development bank HQ in Shanghai and India will hold the presidency

“It is a sign of the times, which demand reform of the IMF” Rousseff told reporters at the close of the summit

The first president of the BRICS group New Development Bank will be from India and the position will rotate every five years among Brazil, Russia, India, China and South Africa, said a joint statement from the leaders said.

Thursday, July 17th 2014 - 07:20 UTC

CFK says BRICS support Argentina in the holdouts dispute, but where’s the document?

Dilma Rousseff will be taking a proposal on sovereign debt restructuring to the G20 summit in Australia, according to the Argentine president

President Cristina Fernandez assured that Argentina received the support from the group of BRICS countries (Brazil, Russia, India, China and South Africa) in its struggle against the holdout speculative funds, during the two summits held in Brazil, in Fortaleza and Brasilia.

Thursday, July 17th 2014 - 06:24 UTC

Brazil looking ahead to another year of record grains crop: 192.5 million tons

 Soy, corn and rice take up 85% of the planted area and 91% of total production

Brazil which has become one of the world’s food powerhouses is forecasting a record harvest of 192.5 million tons of grains, up 2.3% over the previous period, according to the latest report from the Brazilian Stats and Geography Institute, IBGE.

Thursday, July 17th 2014 - 05:24 UTC

Brazil’s main October presidential battle will take place in Sao Paulo

Challenger Neves and Dilma, who is seeking re-election, believe Sao Paulo’s voters are more up for grabs than they have been in decades

When opposition party Senator Aecio Neves officially kicked off his presidential campaign last week, he posted a video on Facebook calling for a “fairer, more efficient, and more generous Brazil”. However the word ‘efficient’ struck some as an odd rallying cry in a tropical country known for its, well, un-Swiss-like approach to time.

Wednesday, July 16th 2014 - 08:05 UTC

IBSA, as important if not more than BRICS for India

 PM Modi and president Dilma Rousseff during the BRICS summit in Fortaleza

Prime Minister Narendra Modi is visiting Brazil to attend the Sixth BRICS summit in Brazil on 15-16 July. During his meeting with President Dilma Rouseff, PM Modi will review the bilateral relations with Brazil with which India is committed to a strategic partnership.

Wednesday, July 16th 2014 - 01:10 UTC

BRICS sign deal to create development bank and an emergency reserve fund

The family picture of the group’s leaders with host Dilma Rousseff

The leaders of the group of five BRICS emerging market countries signed on Tuesday a deal to create a new development bank and an emergency reserve fund, Brazil's President Dilma Rousseff announced at a summit of the group in the Brazilian city of Fortaleza.

Tuesday, July 15th 2014 - 07:19 UTC

Putin and Rousseff discussed doubling bilateral trade ahead of BRICS summit

The Russian president was received with full head of state honors by Rousseff at Planalto Palace in Brasilia

Brazilian president Dilma Rousseff and her Russian counterpart Vladimir Putin have restated their aim of doubling bilateral trade between the two nations to a value of 10 billion dollars a year, in a meeting held a day before the sixth summit of the BRICS group on Tuesday.

Tuesday, July 15th 2014 - 06:55 UTC

Alleged illegal World Cup ticket sales chief surrenders to judge in Brazil

Ray Whelan is director of Match which held the rights to sell hospitality tickets for the World Cup.

The British boss of a FIFA partner firm being investigated over alleged illegal World Cup ticket sales has surrendered to a judge in Brazil. Police had tried to arrest Ray Whelan four days ago but he was not at his exclusive Rio de Janeiro hotel. Mr. Whelan, director of Match Hospitality, denies any wrongdoing.

Tuesday, July 15th 2014 - 06:42 UTC

Chinese president Xi arrives in Fortaleza for the BRICS summit

It is the second time Xi attends the BRICS summit and his second time to visit Latin America since he took office last year

Chinese President Xi Jinping arrived on Monday to Fortaleza, Brazil for a summit of the BRICS countries. The sixth summit of the BRICS, which consists of Brazil, Russia, India, China and South Africa, will be held in Brazil from Tuesday to Wednesday.

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