Brazil

• Monday, June 22nd 2009 - 11:57 UTC

  Flight 447: Brazil identifies 11 of 50 bodies recovered

  

  Officials in Brazil have identified the first 11 of 50 bodies recovered from the Air France Flight 447 disaster in which 228 people died three weeks ago. The bodies were those of 10 Brazilians and one male foreigner, officials said. They gave no further details

• Friday, June 19th 2009 - 14:00 UTC

  Brazil drafting legislation to create new state-owned oil company

  

  Brazil’s government is considering changes to the country’s oil law that would open the way for the creation of a separate state owned company to manage development of the sub-salt and deep sea hydrocarbons resources.

• Thursday, June 18th 2009 - 14:54 UTC

  Brazil invests 7.6 billion USD in family farming

  

  The Brazilian government confirmed Wednesday that the fund to promote home farming and gardening will have at its disposal 7.6 billion US dollars. This represents a 525% increase since the administration of President Lula da Silva took office in 2003.

• Wednesday, June 17th 2009 - 05:12 UTC

  BRIC members meet to demand greater voice is world financial affairs

  

  The world's newest economic grouping, BRIC is to hold its first summit in the Russian city of Yekaterinburg beginning Tuesday. BRIC is named after its four member states - emerging giants Brazil, Russia, India and China; they account for 13% of global GDP and 40% of world population.

• Tuesday, June 16th 2009 - 13:16 UTC

  Lula da Silva calls for new world economic order

  

  Brazilian President Lula da Silva urged unions and workers on Monday to take advantage of the global financial crisis to help forge a new world economic order. He also criticized multilateral organizations for having no plans to address the current global crisis.

• Tuesday, June 16th 2009 - 11:09 UTC

  Lula da Silva promises to teach lessons how to address an economic crisis

  

  President Lula da Silva said that Brazil is overcoming the current global crisis and is in a position to teach other countries how to address the adverse economic situation.

• Saturday, June 13th 2009 - 05:47 UTC

  Brazil considers G8 is no longer a valid political decision group

  

  “G 8 is over as a political decision group” since “it represents nothing at all” and it’s not a valid instrument to address the reform of the global financial system, said Brazil’s Foreign Affairs minister Celso Amorim during a seminar in Paris on Mercosur.

• Friday, June 12th 2009 - 17:56 UTC

  Brazil slashes basic interest rate to help reverse recession

  

  The Brazilian Central Bank slashed its Selic benchmark interest rate to a record low of 9.25% seeking to bolster spending and reverse recession in Latinamerica's largest economy. The one percentage point cut was the fourth reduction in as many months as policymakers struggle with the impact of the global economic slowdown.

• Thursday, June 11th 2009 - 11:10 UTC

  Brazil confirms purchase of 10 billion US dollars in IMF bonds

  

  Brazil will buy 10 billion US dollars of bonds issued by the International Monetary Fund to help the multilateral lender provide financing to countries hurt by the financial crisis, announced Finance Minister Guido Mantega.

• Wednesday, June 10th 2009 - 02:49 UTC

  Brazil in recession, but mild recovery expected at end of 2009

  

  Brazil's economy is showing clear signs of economic recovery though it requires additional fiscal and monetary stimulus to ensure growth this year, said on Tuesday Finance Minister Guido Mantega reacting to the latest data which showed the country had fallen into technical recession.