Investments
InvestmentsBRICS summit to discuss creation of development bank with 50bn initial capital
Brazilian President Dilma Rousseff will attend this week's BRICS summit of five emerging powers hosted by South Africa to discuss creation of their own development bank, the Planalto office announced.
Brazilian supermarkets will not sell meat from cattle raised in Amazon rainforest
The main group representing supermarkets in Brazil says it will no longer sell meat from cattle raised in the rainforest. The Brazilian Association of Supermarkets, which has 2,800 members, hopes the deal will cut down on the illegal use of rainforest for pasture.
EU, ECB and IMF agree on a deal to bailout Cyprus; no Parliament vote
Euro-zone finance ministers have agreed a deal on a 10bn-Euro bailout for Cyprus to prevent its banking system collapsing and keep the country in the Euro-zone. Asian financial markets rose in early trading on news of the deal.
Falklands ‘a NATO base’ and the referendum ‘unacceptable and ridiculous’, says Uruguay
Two of Uruguay’s President Jose Mujica closest ministers, Defence and Foreign Affairs said that the ‘British occupation’ of the Falkland Islands is ‘unacceptable’, represents a NATO base in the South Atlantic and described the recent referendum in the Islands as ‘absurd and ridiculous’.
Pescanova planning to sell assets in Chile to reorganize finances
The main creditor banks of the Galician multinational firm Pescanova, (which is under a probe from the Spanish stock market regulator), argue that the only way the firm can reorganize its financial situation is through the total or partial sale of its subsidiary in Chile by means of a Preventive Judicial Agreement.
India, seventh market for Brazilian exports; bilateral trade reaches 10.6bn dollars in 2012
By R. Viswanathan - India's trade with Brazil reached 10.6 billion dollars in 2012 (January to December), increasing by 15% from 9.2bn in 2011. Twenty years back, in 1992 bilateral trade was just 177 million dollars. Ten years back, in 2002, it was 1.2 billion dollars.
India's exports to Brazil declined in 2012 to 5.04bn from 6bn dollars in 2011.
Suspended potash project top officials left Argentina following union threats
Top officials from the Brazilian mining company Vale which suspended a 6 billion dollars potash development project in Argentina left the country for Sao Paulo last Friday following “on instructions from the security department” of the corporation, according to reports in the Brazilian press.
China will provide 2bn dollars for Latam development projects through IDB
China will provide up top 2 billion dollars for an Inter American Development Bank (IDB) fund, in support of projects for the public and private sector that promoted sustainable growth in the region.
Petrobras keeps target of 2.5m bpd in 2016 and 4.2m bpd in 2020
Brazilian state-controlled oil company Petrobras has unveiled its business plan for the 2013-2017 period projecting investment of 236.7 billion dollars and maintaining its goal of raising crude-oil output from 2 million barrels per day in 2012 to 4.2 million bpd in 2020.
Mining project suspension in Mendoza leading to major clash between Argentina and Brazil
A major conflict could be brewing between Argentina and Brazil after Rio’s Vale decided to cancel a 6 billion dollars potash development project in Mendoza and the Argentine Labour minister issued a mandatory conciliation which actually impedes implementation of the closing down decision.
