Brazil

Thursday, August 7th 2014 - 08:10 UTC
Rousseff claims EU has yet to agree on a proposal to exchange with Mercosur

President Dilma Rousseff claimed before the Brazil's farmers lobby that the trade agreement between Mercosur and the European Union is stalled and is not fulfilled because of the 'resistance' from several European countries, and specifically named France, Hungary and Ireland.
Thursday, August 7th 2014 - 07:26 UTC
Brazil's July auto output and sales plummet 20.5% and 13.9% compared to 2013

Auto production in Brazil during July dropped 20.5% from a year earlier, national automakers' association Anfavea said on Wednesday, while sales slid 13.9%. Compared to June, production rose 17% and sales 11.8%, as July had an additional two working days.
Wednesday, August 6th 2014 - 07:57 UTC
Brazil denies any 'stagflation' and forecasts economy with 'reasonable' growth level in 2015

Brazil is far from stagflation, central bank chief Alexandre Tombini said on Tuesday, forecasting the economy will pick up speed and inflation will ease in coming months. In similar terms Economy minister Guido Mantega said the economy should pick up in the second half of the year after a slow start and hit more “reasonable” growth levels in 2015.
Wednesday, August 6th 2014 - 07:46 UTC
Briton involved in World Cup tickets scam released from jail but must remain in Rio

British World Cup ticketing executive who allegedly took part in a scam to sell millions of dollars worth of fraudulent tickets was ordered to be released from prison Tuesday while awaiting trial in Brazil.
Monday, August 4th 2014 - 07:41 UTC
Trying to gauge the impact of Argentina's situation in Mercosur partners

Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.
Monday, August 4th 2014 - 07:16 UTC
Brazilian auto industry drops 36% in June and drags industrial output

Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.
Saturday, August 2nd 2014 - 08:46 UTC
Brazilian media call Cristina Fernandez, “inept, arrogant and incompetent”

The leading Brazilian newspapers blasted Argentine president Cristina Fernandez as the sole responsible for the 'default event' which followed the failure of negotiations with holdouts in New York. This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government.
Saturday, August 2nd 2014 - 08:29 UTC
Brazil's ruling party expels representative for alleged ties with organized crime

Brazil's ruling Workers Party in Sao Pablo decided to expel representative Luiz Moura following his alleged ties to organized crime exposed by a police investigation. Criminal gangs in Brazil are powerful and are known to have connections with the political system.
Saturday, August 2nd 2014 - 08:18 UTC
Rousseff defends industrial policy and economy performance before the sector's lobby

Brazilian President Dilma Rousseff, who hopes to be re-elected for a second term in October’s elections, has defended her government’s industrial policy in front of the sector’s business leaders, the National Confederation of Industry (CNI).
Friday, August 1st 2014 - 14:40 UTC
World Cup helped a higher than expected surge in beer sales in Brazil

The maker of Budweiser, Stella Artois and Corona beers experienced a sharp surge in sales in Brazil during the World Cup with the month-long contest leading to consumption of an extra 140 million liters or 2 million barrels.