Mercosur is “not working” and is “stalled” admitted Uruguayan president Jose Mujica and blamed the situation on different visions of the block's functioning, according to an interview with Folha de Sao Paulo.
Brazil's central bank indicated on Thursday it is unlikely to cut interest rates any time soon and instead is focused on curbing resistant high inflation even as the economy flirts with recession. In the minutes of its last policy meeting, the bank stressed that interest rates at current levels should help ease inflation in coming years.
After the BRICS summit and a visit to Brazil, China's President Xi Jinping is embarking on a tour of Argentina, Venezuela and Cuba in a bid to boost ties and gain clout in the region, as analyst Victor Mijares tells Deutch Welle.
Brazil leading aircraft manufacturer and space research company, Embraer has released its Market Outlook 2014-2033 which details the company's forecast for deliveries of new 70 to 130-seat jet aircraft over the next twenty years. The report examines the main drivers contributing to air transport growth and reviews projected deliveries by world region.
China expanded its trade partnership with Brazil with 7.5 billion dollars in financing for Brazilian miner Vale, the purchase of 60 passenger jets from plane-maker Embraer and renewed commitment to invest in infrastructure.
Chinese President Xi Jinping proposed Thursday to create a 20 billion dollars fund to finance infrastructure projects in Latin America and the Caribbean.
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.
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.
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.
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.