Argentina’s sovereign rating is “heavily constrained by inconsistent” policies that have accelerated inflation and economic volatility, Fitch Ratings said three days before presidential elections.
Sao Paulo will host the opening match of the 2014 World Cup and Rio de Janeiro's Maracana stadium, where Uruguay in 1950 knocked out the host’s dream of its first Cup, will stage the final, FIFA announced Thursday.
Brazil reaffirmed its influence in Africa with the visit by President Dilma Rousseff on Thursday of the oil rich ‘brother’ nation Angola. Rousseff had previously visited South Africa and Mozambique.
Brazil’s Supreme Court suspended until mid-December a higher tax on imported cars imposed in September to protect local manufacturers from cheap import from China, Korea and elsewhere.
Beef consumption in Argentina registered in 2011 its lowest per capita in 53 years, having dropped approximately 50% from 98.4 kilos in 1958 to 53.4 kilos last June according to the Institute for the Promotion of Beef.
Argentine and Brazilian footwear manufacturers clashed this week over restrictions to trade, mainly through the delay in approving import licences but agreed to keep talking next month in Rio do Janeiro.
Brazil’s central bank cut borrowing costs by half a point for a second straight meeting. The bank’s board, led by President Alexandre Tombini, voted unanimously to reduce the benchmark Selic rate to 11.5% from 12% percent.
The European Union has agreed that around 100 billion Euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the Euro zone's bailout fund.
In the current global context “it’s hard to see an advance in the free trade negotiations with the European Union” said on Wednesday the block’s High representative Ambassador Samuel Pinheiro Guimaraes.
In an attempt to accelerate talks on a trilateral free trade agreement (FTA) , the India-Brazil-South Africa (IBSA) summit decided to hold an annual meeting of trade ministers from the three countries beginning from March next year.