Brazil’s main stock exchange Bovespa is implementing changes to its benchmark Ibovespa stock index, the first since 1968, in an effort to correct recent distortions and better reflect the performance of local shares.
Brazil’s government is planning to give a boost to state-run oil company Petróleo Brasileiro by financing its participation in the October 21 auction of Libra, the country’s largest-ever oil discovery, the O Estado de Sao Paulo newspaper reported over the weekend.
Delays are plaguing work at airports in seven of the 12 Brazilian cities that will host the World Cup nine months from now, the daily O Globo reported Sunday. Citing a survey by Infraero, the federal airports agency, the paper said the worst delay was in the southern city of Porto Alegre, where work on expanding terminal at a cost of 69 million dollars has not even begun.
Argentina’s Hector Timerman and Brazil’s new Foreign minister Luiz Alberto Figueiredo Machado discussed a long agenda of common interest issues during a work meeting held in Buenos Aires, which included Mercosur, trade discussions with Europe, Unasur, Haiti and US cyber-spying in the region among other issues.
Brazil's government is considering lowering import duties in the next planned review of regional bloc Mercosur tariffs, which is scheduled to take place in January, Trade Minister Fernando Pimentel announced this week.
Brazilian Finance Minister Guido Mantega, on Wednesday cheered the Federal Reserve's decision to leave stimulus unchanged, saying it may signal an end to market turmoil. Mantega, who gained international fame for using the term currency wars to describe rich nations’ efforts to lift exports by weakening their currencies, said a gradual stimulus withdrawal may boost Latin America's largest economy.
With one lab suspended and its replacement unfinished, Brazil won't be able to handle drug testing for the 2014 World Cup alone and is looking overseas for help. The executive director of the country's anti-doping authority said the new lab in Rio de Janeiro should be running a year before the 2016 Olympics. But, Marco Aurelio Klein added, the lab won't be ready for the World Cup next June and July.
Eduardo Campos, one of Brazil's most popular state governors, came one step closer to a presidential bid this week when his party withdrew from President Dilma Rousseff's seventeen parties’ coalition government. The Brazilian Socialist Party decided to pull its two ministers from Rousseff's cabinet to give Campos freedom to run in elections in October 2014.
Brazil's Supreme Court has narrowly ruled in favour of reopening the country's biggest corruption trial. The court agreed that 12 of 25 people convicted in a scheme using public funds to pay parties for political support could have appeals heard.
Hackers have hit back in retaliation for US cyber-spying on Brazil but mistook the US space agency NASA for the National Security Agency (NSA), a news website reported here Tuesday.