Tag: Brazil

• Tuesday, March 13th 2012 - 07:26 UTC

  Brazil extends 6% tax on foreign loans and bonds to help weaken the Real

  

  Brazil extended on Monday a 6% tax on foreign loans and bonds issued abroad by local companies to include lending with duration of as long as five years, the third measure taken this month to weaken the Real. Since March 1, the currency has weakened 5.6%.

• Tuesday, March 13th 2012 - 07:03 UTC

  Goldman Sachs says Brazil’ Real needs to decline 20% to remain competitive

  

  Jim O'Neill, chairman of Goldman Sachs Asset Management, lent his support to Brazilian policy makers' efforts to weaken the Real, saying it needs to decline 20% to keep Latin America's biggest economy competitive.

• Tuesday, March 13th 2012 - 01:10 UTC

  Celebrate, “we have exterminated a cancer from Brazilian football”

  

  The head of Brazil’s soccer federation resigned on Monday two years before the South American country hosts the World Cup, putting an end to a 23-year career marked by an unmatched championship record over that period and accusations of corruption off the field. He is replaced by his deputy chief Jose Maria Marin, a former governor of Sao Paulo.

• Saturday, March 10th 2012 - 16:24 UTC

  Rio do Janeiro celebrates Prince Harry’s visit to promote the UK

  

  Samba dancers swathed in orange ostrich feathers welcomed Britain’s Prince Harry to a party on Rio de Janeiro’s Sugarloaf Mountain on Friday. And apparently the fancy footwork was contagious.

• Saturday, March 10th 2012 - 04:52 UTC

  Brazilian fiscal benefits for industry to prop the economy and help competition

  

  The Brazilian government that this week promised an ‘arsenal’ of measures to counter the effects of the international crisis and prop the economy will reduce the tax burden for several industries, revealed a Sao Paulo newspaper close to the current administration.

• Friday, March 9th 2012 - 22:52 UTC

  Mercosur tourism industry had a turnover of 15 billion dollars in 2011

  

  The Mercosur tourism industry had a turnover of 15 billion dollars last year with the Brazilians providing the largest number of tourists to the group’s associates, according to a report from neighboring countries representatives presented at the International Tourism Bourse in Berlin.

• Friday, March 9th 2012 - 03:04 UTC

  Brazil to invest 22 million dollars to rebuild Antarctic station destroyed by fire

  

  Brazil approved the allocation of 40 million Reais (approx 22 million dollars) to rebuild and modernize the country’s Antarctic research station Comandante Ferraz which was destroyed during a fire last month.

• Thursday, March 8th 2012 - 09:42 UTC

  Brazil has become the sixth-largest economy in the world overtaking the UK

  

  Brazil has become the sixth-biggest economy in the world, the country's finance minister announced. The National Institute of Economic and Social Research (NIESR) and other economic forecasters also said that Brazil had now overtaken the UK.

• Thursday, March 8th 2012 - 06:06 UTC

  Brazilian surprise: basic rate down to 9.75%, lowest in years

  

  Brazil’s Central bank on Wednesday surprised analysts by accelerating the pace of interest rate cuts, bringing borrowing costs to 9.75%, below 10% for only the second time on record as it seeks to revive growth.

• Wednesday, March 7th 2012 - 02:54 UTC

  Blatter apologizes to Brazil; requests interview with President Rousseff

  

  FIFA president Sepp Blatter sought on Tuesday to defuse a war of words between FIFA and Brazil by personally apologising for disparaging remarks made by a top official about the country's slow progress in preparing for the 2014 World Cup.