Brazil

Saturday, February 26th 2011 - 06:02 UTC
Brazilian judge blocks plans to build world’s third largest dam in the Amazon

A Brazilian judge has blocked plans to build a huge hydro-electric dam in the Amazon rainforest because of environmental concerns. Federal judge Ronaldo Desterro said environmental requirements to build the Belo Monte dam had not been met.
Saturday, February 26th 2011 - 05:54 UTC
Petrobras posts record net profit in 2010: 20 billion US dollars

Latin America's biggest company, Brazilian state-managed oil giant Petrobras, on Friday said it raked in a record net profit last year of 20 billion US dollars. That figure for 2010 was 17% higher than its profit for 2009 company executives told a news conference in Rio de Janeiro.
Friday, February 25th 2011 - 06:36 UTC
Brazil wants global trade talks, ‘but will not make new concessions’

Brazil's Foreign Affairs ministry told U.S. officials on Thursday that Brazil wants global talks at the World Trade Organization to move forward, but can't make any new concessions.
Friday, February 25th 2011 - 06:33 UTC
China will participate in Brazil’s next oil and gas bidding round

China's Sinopec Corp said it planned to participate in Brazil's next oil and gas bidding rounds, which should be resumed after the passage of a reform of the country's oil law expected this year.
Friday, February 25th 2011 - 06:29 UTC
Half a million Brazilians murdered between 1998 and 2008

Brazil is the sixth most murderous country in a list of 100 nations around the world, according to a new study sponsored by the government and released Thursday.
Wednesday, February 23rd 2011 - 07:25 UTC
Brazil’s Bovespa and Shanghai Stock Exchange sign link agreement

The Shanghai Stock Exchange and Brazil's BM&F Bovespa signed this week an agreement that could lead to closer ties between the two. Bovespa said it was looking for cross-listing across both exchanges, although this would not happen immediately.
Wednesday, February 23rd 2011 - 06:33 UTC
Brazil’s top private banker denies any risk of a credit bubble in the country

The president of Brazil’s private bank Itau brushed aside risks of a credit bubble in the country and underlined that sustained economic growth will be rewarded by an expansion of between 15% and 20% in its credit portfolios in 2011.
Tuesday, February 22nd 2011 - 06:42 UTC
Argentina has ignored Mercosur rules and is now harvesting the benefits

Even when Uruguay and Brazil are in the course of reaching understandings with Argentina regarding the latest trade restrictions to be implemented by President Cristina Fernandez de Kirchner administration, ‘which are not targeted against Mercosur members’, the Brazilian press presents another angle.
Tuesday, February 22nd 2011 - 03:52 UTC
FT warns Brazil could be approaching a “US like sub-prime” situation

The Financial Times warns that in spite of the current optimism about the performance of the Brazilian economy, the country could be heading to a ‘sub-prime’ crisis ‘worryingly’ similar to that experienced by the United States.
Tuesday, February 22nd 2011 - 00:19 UTC
President Rousseff promises Brazilian economy will speed up in 2012

Brazil’s economy will pick up speed in 2012, said President Dilma Rousseff on Monday addressing northeast governors concerned that recent announced budget cuts could limit economic activity and support for the area that depends from federal handouts.