The Brazilian presidency advisor in international affairs Marco Aurelio García said that the agreement between Brazil and Paraguay regarding the surplus power from the shared Itaipú hydroelectric dam (operationally the largest in the world) is “most important” and helps to normalize bilateral relations.
Brazil and Paraguay agreed over the weekend on an amicable solution to a decade long dispute over a hydro-electric dam on their shared border, with Brazil agreeing to triple the amount it pays its neighbour for energy.
Argentina and Brazil agreed to hold talks next week to address the ongoing trade differences which threaten to sour the bilateral relation. The meeting of Presidents Cristina Fernandez de Kirchner and Lula da Silva was held on the sidelines of the Friday Mercosur summit in Paraguay.
The Brazilian government said it will lodge a formal complaint with the World Trade Organisation over shipments of more than 1,000 tons of hazardous waste which arrived from Britain
Israel's foreign minister ran into controversy on the first day of a Latinamerican trip when an official of Brazil's ruling party reportedly called him a fascist. Israel's Haaretz newspaper reported that Valter Pomar, secretary of international relations for the Workers Party, described Avigdor Lieberman as a racist and a fascist during an interview
Spot iron-ore vessel bookings from Brazil to China jumped to a record in July as Australia suspended spot sales following detentions of Rio Tinto's top sales officials in China, reports Reuters.
Brazil's antitrust regulator imposed a record fine of 352 million Reais (approximately 176 million US dollars) Wednesday on beverage giant AmBev. The Cade regulator found that AmBev, brewer of Skol, Brahma and Antarctica beers, used discounts, premiums and exclusivity agreements to dissuade retailers from selling competing brands.
The United States unit of the world's largest meat processor, Brazilian JBS SA, filed for an initial public offering of up to 2 billion US dollars on Wednesday, making it the largest planned offering in the US IPO pipeline.
Brazil’s Central bank lowered on Wednesday the benchmark Selic rate by a half point to a record low 8.75%. The bank had cut the rate by at least a full point at all four previous policy meetings of 2009.
Brazilian Foreign Affairs Minister Celso Amorim phoned last weekend US Secretary of State Hillary Clinton, who was in New Delhi, India, to express concern about the slow pace and handling of the negotiations for the reinstatement of the democratic order in Honduras, reports Folha do Sao Paulo.