Brazil

• Wednesday, April 20th 2011 - 00:49 UTC

  First Brazilian pre-salt oil shipment to Chile in mid May

  

  Petrobras, Brazil’s state-controlled oil producer will export its first cargo from the country’s second-largest crude field to Chile in mid-May.

• Tuesday, April 19th 2011 - 13:53 UTC

  Argentina joins manufacturing of Brazil’s KC 390 jet powered military transport

  

  Brazil and Argentina aircraft industries have signed a partnership contract for the manufacturing of the Embraer KC 390, a medium sized twin engine jet powered military transport aircraft with a 23 tons capacity.

• Tuesday, April 19th 2011 - 03:51 UTC

  What is behind Brazil’s high rates: loose fiscal policy, low savings or politics

  

  With Brazil’s benchmark interest rate at 11.75% and prospects of further increases Latin America’s largest economy poses a challenge to economists and analysts. The answers are not only economic but also political.

• Saturday, April 16th 2011 - 01:53 UTC

  Norway’s Statoil makes major oil discovery in the Brazilian Campos basin

  

  Norway’s biggest oil and gas producer Statoil ASA, said the “significant” oil discovery made adjacent to the Peregrino field in the Campos basin off Brazil may warrant a separate installation to speed up development.

• Saturday, April 16th 2011 - 00:22 UTC

  Brazil 2012 budget estimates: primary surplus 3.1% of GDP, dollar at 1.76 Real

  

  Brazil is aiming for a primary budget surplus of 3.1% of GDP in 2012 as the government tries to put its public accounts back into better shape. Brazil’s economy is expected to grow 5.0% in 2012, compared to a 4.5% growth forecast for this year, according to an outline of the 2012 budget released Friday.

• Saturday, April 16th 2011 - 00:11 UTC

  Tombini says Brazil is in the middle of a monetary tightening cycle

  

  Brazil is in the middle of a monetary tightening cycle, central bank President Alexandre Tombini said on Friday, days before the bank is expected to announce a hike in the benchmark lending rate.

• Saturday, April 16th 2011 - 00:09 UTC

  China’s trade with BRICS associates surged 45.8% in the first quarter

  

  China's top customs authority announced Friday that trade with the other four BRICS nations surged by 45.8% to reach 59.9 billion US dollars in the first quarter of this year.

• Friday, April 15th 2011 - 18:31 UTC

  Brazil admits most airports won’t be ready for the 2014 World Cup

  

  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.

• Thursday, April 14th 2011 - 05:24 UTC

  President Rousseff invites Foxconn to develop Brazil’s electronics industry

  

  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.

• Wednesday, April 13th 2011 - 18:34 UTC

  Mercosur to release members’ same criteria macro-economic data beginning June

  

  Beginning June, Mercosur full members will share macro-economic indicators elaborated with the same criteria and which will be released simultaneously, according to reports in the Montevideo press. The initiative was partly financed by the European Union that also played an advisory role.