Brazil

Friday, November 29th 2013 - 07:17 UTC
Youth gangs raids in Rio beaches are back challenging police; US consulate alert

A truck with fourteen cameras with a 360 degree angle and a range of eight kilometers plus a fourfold increase in police numbers has been displayed along Rio do Janeiro most iconic beaches following an outbreak of 'arrastraos' or dragnets in which tens of teenagers stampede on to beachgoers to steal whatever they can get hold off.
Thursday, November 28th 2013 - 11:45 UTC
Brazil determined to fight inflation raised its benchmark interest rate to 10%

As was anticipated Brazil raised its benchmark interest rate to 10% from 9.5% on Wednesday lifting borrowing costs back to double-digit territory to battle high inflation in Latin America's largest economy.
Thursday, November 28th 2013 - 11:40 UTC
Brazil auctions concession of highway that transports 45 million tons of grains annually

Brazilian construction giant Odebrecht on Wednesday was awarded a 30-year concession to operate and maintain a stretch of the BR-163 federal highway, a major road in the western state of Mato Grosso, also known as 'soy road' because of the millions of tons of grains and oilseeds that are transported annually.
Thursday, November 28th 2013 - 11:28 UTC
North west England trade mission scheduled to visit Chile, Argentina and Brazil

Attracted by Chile’s positive economic climate a trade mission for North West England will be arriving in Santiago on 2nd-3rd December. The delegation from one of the most dynamic areas of the UK economy has representatives from Covering Cheshire, Lancashire, Cumbria and the cities of Manchester and Liverpool.
Thursday, November 28th 2013 - 10:56 UTC
Brazil Supreme Court postpones major ruling against banks until February

Brazil's Supreme Court postponed until February a ruling on lawsuits by depositors that could cost the nation’s banks 65 billion dollars. Depositors claims relate to adjustments to accounts to compensate for hyperinflation and other drastic measures in early nineties mostly under president Fernando Collor de Melo.
Thursday, November 28th 2013 - 10:41 UTC
Crane collapse in stadium for opening match of 2014 World Cup kills two workers

Two people died in an accident at Sao Paulo's stadium, which is due to host the opening ceremony of the 2014 World Cup finals, police say. A senior local fire official said crews were called Wednesday midday to the Arena Corinthians after reports of a collapsed crane. It fell on top of a metal structure, destroying part of a facade.
Thursday, November 28th 2013 - 10:26 UTC
Rousseff reluctant to increase fuel prices fearing inflation and social unrest

Brazilian president Dilma Rousseff is reluctant to allow the country's oil corporation Petrobras to increase the price of fuels this year, which would have an immediate impact on gasoline, transport and inflation, according to Folha de Sao Paulo.
Thursday, November 28th 2013 - 10:21 UTC
Gol airlines admits it's on the brink because of Brazil's tepid economic performance

Brazilian airline Gol Linhas-Aereas could continue cutting its domestic network in 2014 if necessary, Chief Executive Paulo Kakinoff said this week, highlighting uncertainty about economic growth.
Wednesday, November 27th 2013 - 06:49 UTC
Petrobras shares plummet on fears that fuel price increases will be further delayed

Brazilian state-run oil firm Petrobras fell to its lowest level in more than a year on Tuesday, pushing the country's stock market to a near three-month low on concerns the government may delay a new pricing policy that could stem losses in the firm's refining division.
Wednesday, November 27th 2013 - 06:43 UTC
Sound fiscal policy is new target of Brazilian economy: subsidies to be lessened

Brazilian Finance Minister Guido Mantega said on Tuesday the government will remove some subsidies and delay tax breaks to keep the country's fiscal policy sound. Likewise the state development bank, BNDES, will stop funding lines for regional government next year.