The Brazilian government plans to buy over a third of the country’s output of buses and reduce borrowing costs for state-funded investments to a record as part of a new round of measures to revive stalled growth.
Brazil’s Petrobras which has become the world’s biggest deepwater oil producer is looking past its largest discoveries to avoid a fate similar to Mexico, where output has plummeted 25% since 2004.
Chilean president Sebastián Piñera revealed that next Friday during the regular Mercosur summit, the leaders of Unasur member states are scheduled to hold an extraordinary meeting to jointly address the political crisis in Paraguay triggered by the removal of President Fernando Lugo.
Brazil will wait for the Paraguayan situation caused by the removal of Fernando Lugo “to decant” before assessing the most appropriate measures to address the “rupture of democratic order” in the country, according to Planalto sources.
Russian investment bank VTB Capital and Brazilian peer BTG Pactual, two of the fastest-growing emerging market challengers to more established US and European rivals, are joining forces to help them to expand further.
Motomco Group of Brazil, a manufacturer of grain quality-control products, is opening a Canadian operation called Canada Moisture Analyzers in Winnipeg this summer. The shop will handle sales and service for its products, which measure moisture content in grain in North America.
Brazil's state managed oil company Petrobras said it will raise gasoline and diesel prices for the first time since 2008, a move aimed at ending refining losses and paying for the world's largest corporate spending plan.
Brazil posted a current account deficit of 3.468 billion dollars in May, central bank data showed on Friday, in line with analysts' expectations and less than the previous month's gap. Brazil's current account deficit in April was 5.4 billion, the central bank said last month.
President Cristina Fernández assured on Friday night that “Argentina does not condone the coup in Paraguay” and anticipated that “appropriate measures” will be taken at next week’s Mercosur Summit, scheduled to take place in Mendoza.
Officials from Brazil's state-run oil company, Petrobras and the government on Thursday confirmed they are studying a fuel price increase to help offset the costs of fuel sector investments.