Brazilian President Dilma Rousseff said she has sent to Congress another proposal to earmark all oil royalties collected by the state for public education after lawmakers shelved an earlier effort. Rousseff made the announcement in a televised Labour Day speech in which she said improving education was vital for Brazil's development in a highly competitive world.
Brazil recorded in April its third trade deficit in four months, trade ministry data showed on Thursday, another weak result that reflects the deterioration of the country's trade balance due to a sluggish global economy and struggling local industry.
Brazil posted a budget primary surplus of 3.5 billion Reais (1.75bn dollars) in March, recovering after a deficit in February, but still the worst performance in the first quarter of the last four years, according to central bank data released this week.
Israeli defense giant Elbit Systems Ltd. plans to create a hub of aerospace research in the southern Brazilian state of Rio Grande do Sul, company officials said.
Brazil’s Petrobras is selling its 20% stake in the Gila prospect in the US Gulf of Mexico as part of its ongoing divestment program. The state-owned company said it had signed a sale and purchase agreement for the sale of its equity in exploration blocks KC 49, 50, 92, 93, 94 and 138, which make up the BP-operated asset.
Brazil has a big lead as the country with the most government requests to remove online content by judicial order in the latest Google Transparency Report, released last week. In the period between July and December 2012, the search giant received 1,461 court-ordered requests from governments around the world to remove content, including YouTube videos and search results, with nearly 43% of them coming from Brazilian authorities.
Rio de Janeiro's Maracana stadium, venue for next year's World Cup final and the spiritual home of Brazilian football, has re-opened with an exhibition match despite not being fully finished.
Brazilian president Dilma Rousseff said during a joint conference with her Argentine peer Cristina Fernández at Government House in Buenos Aires that she was certain the Vale mining company “would find a way to reach an agreement with the Argentine authorities” on the suspended project.
The next head of the World Trade Organization will be either Mexico's Herminio Blanco or Brazil's Roberto Azevedo, guaranteeing a Latin American nation will hold the top job at the global trade body for the first time, although they made it to the short list in previous occasions-.
Brazilian president Dilma Rousseff will travel to Buenos Aires on Thursday for a two-day meeting with her Argentine counterpart Cristina Fernández and discuss political and trade matters between the two countries after an imports drop in Argentina last year and the cancelling by Brazil of a major investment project.