Brazilian Foreign minister Antonio Patriota strongly defended the decision to suspend Paraguay from Mercosur following the removal of Fernando Lugo from the presidency, as well as the incorporation of Venezuela as full member of the trade group.
Brazil's annual inflation remained relatively stable in August, and was broadly in line with economists' forecast, data released by statistical office IBGE. The consumer price index increased 5.24% on an annual basis in August, just ahead of the 5.2% recorded in July.
Brazil is the world's largest market for crack and the second for overall cocaine use, researchers from the Federal University of Sao Paulo (UNIFESP) said on Wednesday.
For the first time, Brazil is among the group of the 50 most competitive nations in the world, says the Global Competitiveness Report, released by the World Economic Forum.
Brazil on Wednesday sold 1.25 billion in dollar-denominated global bonds due in 2023, at the cheapest borrowing costs ever from foreign investors. High demand allowed the government to improve financing conditions by lowering the bond's yield spread over comparable US Treasury debt to 110 basis points from an initial 115 basis points.
Soybean prices again climbed on Tuesday in Chicago reaching a historic record of 650.74 dollars the ton, boosted by investors’ purchases fearing limited supplies because of the worst drought in the US in the last five decades.
The Brazilian government approved a 25% tariff increase on an additional list of 100 goods from outside Mercosur and at the same time announced the implementation of a monitoring scheme for those items’ prices in the domestic market to avoid unduly increases.
Marfrig Alimentos SA, Brazil’s second-biggest food company, is attracting the interest of Blackstone Group LP and Tyson Foods Inc. for a plan to sell a stake, three people with direct knowledge of the talks said.
Brazilian president Dilma Rousseff said her government would continue with the policy of reducing labour costs to favour companies and improve their competitiveness and hinted that new initiatives referred to power costs for industry could be in the pipeline.
Brazil car sales rose to a record 400,000 units in August as tax cuts and lower borrowing costs spur consumer spending. Fiat, the country’s biggest automaker, said that tax cuts that took effect in May and were extended last week through October spurred industry sales of cars and light vehicles last month.