Residents of a northern suburb of Rio do Janeiro torched five buses Monday shortly after a 17-year-old youth died in a shootout between criminals and police, Brazilian media reported. The incident again put a harsh spotlight on security in the country, just six weeks before Brazil hosts the football World Cup, with Rio staging seven matches including the July 13 final.
Because of adverse climate conditions Brazil’s Arabica coffee prices have recently surged 94%, to 2.144 dollars for half a kilogram ($2.30) on the New York futures market.
FIFA secretary general Jerome Valcke downplayed recent violence in the favelas of Rio de Janeiro as a threat to the upcoming World Cup. The city was the scene of violent outbursts last week when a dancer was found dead with his friends and family blaming the killing on the police.
The relationship between China and Brazil has extensive significance due to their position as two primary emerging market countries and economies, visiting Chinese Foreign Minister Wang Yi said here in Brasilia.
Brazil's current account deficit narrowed in March after an improvement in the trade balance, but it was still the second largest on record for that month, central bank data showed. The country posted a current account deficit of 6.248 billion last month, down from 7.445bn in February.
Every year police in Brazil are responsible for around 2,000 deaths, Amnesty International said as it marked the 20th anniversary of the infamous Candelária massacre in Rio de Janeiro. On the night of 23 July 1993, eight young men and women died after a gang of hooded men opened fire on a group of some 50 street children sleeping on the steps of Rio de Janeiro’s Candelária church.
President Dilma Rousseff was repeatedly interrupted while giving a speech by hecklers protesting the coming World Cup hosted by Brazil and who are demanding more funds should be invested in health care, education and improved transportation.
Volkswagen said on Thursday it will lay off 900 autoworkers at two Brazilian plants, one of the biggest recent efforts to cut output in the face of sluggish demand for cars in Latin America's largest economy. Brazil is the No. 4 market for Volkswagen after China, Germany and the United States.
Ever-optimistic Brazilian Finance Minister Guido Mantega said a recent rise in consumer prices was expected, ('there's always a villain factor pushing inflation')' anticipating that in May/June the index will be lower. Mantega also denied local news reports that the government was seeking a change in the index methodology as a way to eliminate the impact of volatile food prices.
Argentina's economic situation has hit Brazil harder than its other commercial partners, as China has been making inroads into Brazilian trade with Argentina. Chinese exports to Argentina have more than tripled in the last ten years, according to a study carried out by Brazil's National Confederation of Industry, (CNI).