Brazil's trade surplus narrowed to a 5 and a half year low in January as a cheaper dollar and rising consumer demand pushed imports to a record high. Imports increased to 12.3 billion US dollars in January from 10.6 billion in December.
Brazilian beauties wearing only sequins led carnival parades lasting until dawn Sunday as second-division samba groups used a kaleidoscope of colorful dancers and floats to launch the biggest part of Rio's five-day bash.
The fossil of a land-bound reptile that could be a link between prehistoric and modern-day crocodiles was put on public display for the first time at the Federal University of Rio do Janeiro, reports National Geographic.
Brazil's Cabinet official for racial equality resigned Friday amid charges she had abused her government-issued corporate credit card. Matilde Ribeiro told a news conference that she had committed a mistake in using the card to pay for a chauffeured car, restaurant meals, hotels and purchases in a duty free shop in 2007.
Brazil's Finance Minister Guido Mantega said that for the moment there's no reason to change the country's growth estimate of 5% for 2008, in spite of global recession fears, which he believes will impact most on developed countries.
Brazil's government managed Petrobras will bid strongly for Exxon's downstream assets in South America, O Globo newspaper reported this week from Rio do Janeiro.
The European Union will freeze all imports of Brazilian beef as from Thursday after Brazil failed to provide sufficient sanitary safety guarantees announced in Brussels EU Health and Consumer Affairs Commissioner Markos Kyprianou.
Xstrata Plc, the world's fourth- largest copper producer, rose to a three-week high in London trading after newspaper reports that Brazil's Cia. Vale do Rio Doce may agree to buy the company within the next few days.
Brazil's government oil managed corporation Petrobras finished 2007 in sixth place of PFC Energy 50's ranking, which lists the world's largest oil companies based on their market values.
Foreign direct investment in Brazil reached a record 34.6 billion US dollars (almost double the 18.7 billion of 2006) reported the Brazilian Central Bank. FDI this year is expected to topple 28 billion US dollars with an estimated record 4.5 billion in January.