Brazil's tax revenue surged in March on the back of consumer demand that has continued to be robust the federal tax authority said this week.
A Brazilian government report indicates that it will be extremely difficult to get most Brazilian airports ready in time for the 2014 World Cup.
Renovation work in 10 of the 13 airports which will be used during the month-long tournament will not be completed in time unless there are changes in the investment plans made by Brazil's airport authority, Brazil's Economic Research Institute said in its study.
The BRICS group of emerging-market powers kept up the pressure for a revamped global monetary system that relies less on the US dollar and for a louder voice in international financial institutions.
Foxconn in planning to invest as much as 12bn US dollars in Brazil, according to President Dilma Rousseff currently on an official visit to China. Taiwan-based Foxconn operates the majority of its factories in China, producing goods for firms like Apple, Hewlett Packard and Dell.
Chinese President Hu Jintao came under pressure from fellow BRICS members Brazil, Russia, India and South Africa to open the Chinese market to goods ranging from Indian drugs to Brazilian planes as leaders gathered on a tropical south China island for a summit.
China and Brazil on Tuesday clinched a host of government agreements and economic deals in Beijing to enhance their strategic partnership as Brazilian President Dilma Rousseff paid her first state visit to China.
China opened its market to Brazilian pork and Brazil’s meat packer Marfrig said it would invest heavily in distribution centres in China. The announcements were made in Beijing where a numerous government and private sector delegation headed by Brazilian president Dilma Rousseff is on an official visit to China.
President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.
China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.
Brazil unveiled Wednesday the latest effort to stem a flood of foreign capital that is driving the local currency sky-high and undermining the competitiveness of the country’s exports. Finance Minister Guido Mantega blamed the currency woes on the Federal Reserve policy that keeps US interest rates near zero.