Brazilian stocks partly recovered (0.16%) on Friday after their worst week in nearly a year with the Sao Paulo Bovespa index falling 7.7%, -below the 60.000 benchmark-, in line with global markets and concerns about oil and inflation.
Brazil launched the process to buy at least 36 fighter jets as part of a broader plan to modernize its Air Force and in keeping with neighbors that are also in the process of overhauling their fleets.
The Brazilian automobile industry produced and sold a record number of new vehicles in the first half of 2008, with flex-fuel cars leading the surge according to the auto manufacturers' association, Anfavea, said on Friday.
Brazil has promised farmers 78 billion Reais, approximately 48 billion US dollars, in soft loans to promote agriculture production and help curb inflation announced on Wednesday the country's development bank, BNDES.
Brazil's monthly inflation accelerated to its fastest pace in more than five years on rising wholesale prices for manufacturers. The IGP-M price index, Brazil's broadest measure of consumer, construction and wholesale prices, rose 1.98% in June, up from a 1.61% surge in May, according to the Getulio Vargas Foundation.
Brazil's Antimonopoly agency, CADE, finally approved the takeover of the once Brazilian flag carrier Varig by the low fare airline GOL, an operation which took place last year.
Brazilian meat processor Marfrig said on Monday it will pay 680 million US dollars for assets in Brazil and Europe owned by US based OSI Group, the largest meat provider for McDonald's fast-food chains.
Brazilian president Lula da Silva said on Monday that inflation in the country was under control, in spite of soaring world food prices and promised measures to further promote the production of grains, meats and milk.
Brazil will be announcing this week the annual investment plan in support for agriculture and livestock which is estimated to increase 12% totaling in the region of 40 billion US dollars, said Agriculture Minister Reinhold Stephanes.
Brazilian President Lula da Silva, cabinet ministers and his main economic advisors are considering a range of measures, (from budget cuts to pruning credit) with the purpose of curbing inflation according to Folha de Sao Paulo