Brazil

• Monday, October 8th 2012 - 06:26 UTC

  Brazilian banks have room “to cut consumer lending rates in half”

  

  Brazilian banks have room to cut consumer lending rates in half, Brazil's Finance Minister Guido Mantega said in remarks published this weekend in the O Globo newspaper.

• Monday, October 8th 2012 - 06:23 UTC

  Rio mayor re-elected and will host Olympics; Sao Paulo, run off with the two main parties

  

  Rio Mayor Eduardo Paes has been re-elected with an overwhelming majority in the first round of Brazil's municipal elections. Paes from the centrist Democratic Movement Party will be in charge when Rio hosts the 2016 Olympics.

• Saturday, October 6th 2012 - 15:16 UTC

  IMF cuts global growth estimates; calls for clear political leadership to restore confidence

  

  The IMF has cut its global growth forecasts for this year and 2013 and called on politicians in the Euro-zone and the US to take “decisive” steps to restore confidence, a German newspaper said Friday.

• Saturday, October 6th 2012 - 15:06 UTC

  Brazil wants Paraguay back in Mercosur following “democracy compliance” test

  

  Brazilian Foreign minister Antonio Patriota said on Friday that Paraguay could resume membership of Mercosur and Unasur without the need to wait for presidential elections next April 2013 as long as “full compliance with democracy” can be verified.

• Friday, October 5th 2012 - 22:58 UTC

  Brazil food giant Marfrig preparing for a long weekend of Xmas festivity

  

  Brazil’s food giant Marfrig and the second largest in beef provision, is increasing the use of its installed capacity to address the growing domestic demand according to Joao Sampaio, deputy chief Marfrig’s investors relations.

• Friday, October 5th 2012 - 22:55 UTC

  Brazil September inflation higher on food prices, but bank could further cut Selic rate

  

  September inflation in Brazil was up 0.57% on higher food prices according to the latest release from the country’s stats office, IBGE. This was the highest rate since last April (0.64%) and the steepest for September since 2003, (0.78%).

• Friday, October 5th 2012 - 06:06 UTC

  Brazil mocks Argentina after “super-match” was cancelled because of power failure

  

  Chaco Governor Jorge Capitanich publicly regretted and apologized on Thursday for the major embarrassment caused by the suspension of an Argentina-Brazil friendly match scheduled for Wednesday night when the stadium floodlights failed.

• Thursday, October 4th 2012 - 07:24 UTC

  Lula da Silva’s former chief of staff ‘master mind’ of Brazil’s biggest corruption scandal

  

  Former president Lula da Silva's chief of staff masterminded a vote-buying scheme by the ruling Workers Party in Brazil's Congress, a Supreme Court justice said Wednesday, in the biggest corruption scandal in the country in 20 years.

• Wednesday, October 3rd 2012 - 04:35 UTC

  Brazilian Low-cost Gol airline purchases 60 Boeing 737 Max; 6bn dollars deal

  

  US manufacturer Boeing announced this week it has sold 60 aircraft to Brazil’s Gol Linhas Aereas Inteligentes, comprising the largest order ever from a single airline in South America. All 60 of the airplanes will be the 737 Max model, at a value of about 6 billion dollars at list price.

• Wednesday, October 3rd 2012 - 04:29 UTC

  Industrial production picks up in August; stimuli seems to be working

  

  Industrial production in Brazil expanded in August at its fastest pace in 15 months thanks to heavy government stimulus, data showed on Tuesday. Finance Minister Guido Mantega said the jump in industrial output is proof that the worst of Brazil's slowdown is over.