Sugar output in Brazil, the world’s largest producer and exporter, will unexpectedly fall this year after freezing weather pared crop yields, the Agriculture Ministry said on Tuesday.
Global production of bio-fuels increased 17% in 2010 to reach an all-time high of 105 billion liters, up from 90 billion liters in 2009.
The Brazilian government gave a clear signal Monday that is intends to advance in the consolidation of a defense industry in the country. A decree signed by President Dilma Rousseff releases 45 million Real in funds for the launching of the Astros Project 2020 to equip the Brazilian army.
Brazil's economy showed new signs of a slowdown on Tuesday as steelmakers slashed their growth forecasts, the country's No. 1 airline scaled down its expansion plans and a new poll showed growing pessimism in the manufacturing sector.
Brazil plans to further contain government spending this year to prepare the country for a global slowdown and make room for a cut in interest rates, Finance Minister Guido Mantega said on Monday.
The Argentine automobile industry will expand its production capacity to a million units annually by 2012 following on the expected record production of 840.000 this year boosted by domestic demand and exports to brazil, said Anibal Borderes president of the country’s Automobile Manufacturers Association, Adefa.
Brazil Securities and Exchange Commission, CVM, expects to have ready by the end of the year a regulatory framework for risk rating agencies with the purpose of improving the quality of their analysis, said Maria Helena Santana, president of CVM.
Brazil’s unemployment rate fell in July to its lowest level this year, 6% from 6.2% in June, reported the National statistics office. Average real wages rose 4% from a year ago to 1.613 Real (999.50 dollars) a month.
Brazil’s budget primary surplus widened in July to a record for the month pushing the year-to-date total to almost 80% of the government’s 2011 target, according to the Central bank.
Two further headaches for embattled Brazilian president Dilma Rousseff who in eight months of government has seen four ministers and two deputy ministers step down under serious suspicions of corruption.