Construction has begun on a giant observation tower in the heart of the Amazon basin to monitor climate change. The Amazon Tall Tower Observatory is expected to rise 325m from the ground.
Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.
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.
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.
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.
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.”
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.
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.
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.
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.