Transparency International described corruption as “a plague which destroys lives, communities and countries, and feeds armed conflicts and wars”, during the opening in Brazil of the 15th International Anti Corruption Conference.
South America’s crop prospects deteriorated because of excessive rainfall in Argentina and dry conditions in central Brazil, according to Oil World. Argentina’s estimated 55/56 million tons soybean crop could drop anywhere from 3 6o 6 million tons because of delays in sowing caused by torrential rains and flooding.
Brazil announced on Tuesday it will create a new police agency, boost surveillance operations and mull transferring inmates to more secure prisons as it battles killings of police in surging violence blamed on a jail-based drug gang.
Law and order seems out of control in Brazil’s largest city and financial hub. To the usual appalling crime statistics follows a rash of police officers killings. This weekend an off duty military police officer was the twenty second murder victim and the 90th killed in the city so far this year.
Brazil's trade ministry said the country's exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged US crops.
President Hugo Chavez said on Thursday that he will be attending the coming Mercosur presidential summit next 7 December in Brasilia and assured Venezuela is speeding up so the country can display all its potential within the political and trade block.
Brazil granted a tax exemption to foreigners who buy mortgage-backed securities or invest in funds that purchase them after sales of new debt supported by real estate loans fell almost 50% this year.
Industrial production in Brazil contracted more than expected in September. According to a release from the government stats office IBGE output from Brazilian factories and mines shrank 1% in September from August on a seasonally adjusted basis.
Brazilian foreign minister Antonio Patriota is scheduled to meet on Thursday with his Venezuela peer Nicolas Maduro to discuss a bilateral and regional agenda which is expected to emphasize on current issues related to Mercosur, the coming December summit and Paraguay’s situation.
India and Brazil have the highest government debt ratios at almost 70% of GDP among top ten emerging market economies, according to a report by Deutsche Bank.