Brazilian Central Bank president Henrique Meirelles said the country is considering the gradual elimination of the US dollar in trade with China, Russia and India, which together with Brazil make up the BRIC group.
The Brazilian Federal Police identified 17 places through which illegal weapons are introduced into the country, including most of those used by organized crime such as heavy machine guns capable of downing a helicopter as recently happened in one of the favelas, the shanty towns that speck Olympic city of Rio do Janeiro.
Trade obstacles imposed by Brazil against Argentine exporters in reprisal for similar measures by the Argentine government of President Cristina Fernandez de Kirchner escalated Tuesday when the Brazilian ambassador was summoned to the Argentine Foreign Affairs ministry.
The president of the Brazilian Senate Jose Sarney reiterated Tuesday he does not support the incorporation of Venezuela to the South American trade block Mercosur, since “decisions from the government of that country represent a crumbling and deviation of democracy”.
Brazil is considering extending stimulus tax cuts on home appliances even as the country’s economic recovery shows signs of gaining momentum. Tax cuts helped Brazilian auto industry sales to soar.
Brazilian food company Marfrig Alimentos, with strong interests in Uruguay and Argentina turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.
Brazil will raise the bio-fuel content of its diesel to 5% up from 4% previously, after President Lula da Silva approved the proposal on Friday.
Argentina and Paraguay have made a historic pledge to save one of the world’s most threatened forests. During a special ceremony at the XIIIth World Forestry Congress, the two governments agreed to work towards zero net deforestation in the Atlantic Forest, and to implement a package of measures that include national legislation to enforce those commitments.
The Paraguayan Senate approved by an ample majority the agreement with Brazil which represents a higher financial compensation for Paraguay from Itaipú, the world’s largest operational hydroelectric dam, a long standing claim which was addressed in several summits between presidents Lula da Silva and Fernando Lugo.
Brazilian oil giant Petrobras on Friday launched 2.5 billion US dollars of 2020 bonds and 1.5 billion USD of 2040 bonds, in what might be the largest ever sale of corporate debt by a Brazilian company.