Brazil

• Friday, May 25th 2012 - 09:04 UTC

  Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

  

  Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.

• Friday, May 25th 2012 - 07:01 UTC

  Three former presidents admit Mercosur has failed and has Uruguay ‘trapped’

  

  Three former Uruguayan presidents recommended the current administration that without abandoning Mercosur, it should look at major trade blocks associations but at the same time a strong self criticism is needed because maybe the problem is not in Mercosur but in Uruguay.

• Thursday, May 24th 2012 - 16:44 UTC

  Brazil’s current account deficit compensated by heavy FDI during April

  

  Brazil's monthly current account deficit rose sharply in April as the country's trade surplus faded and profit remittances and foreign travel costs increased, the Brazilian Central Bank said Thursday.

• Wednesday, May 23rd 2012 - 06:59 UTC

  Brazilian Real falls to a new three-year low, “positive” for exporters says minister

  

  The Brazilian Real fell to a new three-year low after briefly erasing its decline as the central bank sold currency swap contracts for the second time in three trading sessions, holding two auctions on Tuesday.

• Tuesday, May 22nd 2012 - 18:50 UTC

  OECD anticipated end to weak growth in Brazil but warns about inflation

  

  Weak growth in Brazil seems to be coming to an end, but there are still looming risks in the shape of inflation, credit risk and competitiveness, according to the latest outlook published by the Organization for Economic Cooperation and Development, OECD, on Tuesday.

• Tuesday, May 22nd 2012 - 06:09 UTC

  Argentina proposal to increase Mercosur common external tariff from 22% to 35%

  

  Argentina is planning to propose its fellow Mercosur members to increase the common external tariff, CET from the current 22% to 35%, when they meet at the next summit in Mendoza. Argentina currently holds the pro tempore chair of the group and at the coming summit the helm will be transferred to Brazil.

• Tuesday, May 22nd 2012 - 06:00 UTC

  Argentine frozen chips retained in the border because of trade dispute with Brazil

  

  Canada’s Mc Cain has suspended production of frozen chip potatoes in Argentina because of the trade barriers which impede exports to Brazil in the framework of a bilateral dispute that is limiting the flow of goods both ways.

• Tuesday, May 22nd 2012 - 03:22 UTC

  Brazil announces measures to boost sales of vehicles and stimulate growth

  

  Brazil lowered taxes on consumer borrowing and created incentives for banks to boost vehicle lending as policy makers struggle to revive economic growth in the Latin America’s largest market.

• Monday, May 21st 2012 - 03:56 UTC

  Brazilian economy slows down in March for third consecutive month

  

  Brazilian government's economic activity index dropped for the third consecutive month in March, confirming a slowdown in the economy in the period.

• Sunday, May 20th 2012 - 22:18 UTC

  Rousseff receives apology and compensation for tortures suffered when she was a guerrilla

  

  President Dilma Rousseff will receive 10,000 US dollars in reparations from Rio do Janeiro state for torture she was subjected to while jailed as a leftist guerrilla during Brazil's 1964-1985 military dictatorship, her office said Friday.