Lending by Brazil’s BNDES (National economic and social development bank) totalled 43.5 billion Real (29bn dollars approx) in the first five months of the year, representing a contraction of 6% compared to the same period in 2010, according to a bank’ release.
Brazilian former president Lula da Silva criticized rich countries for their roll on the current economic crisis that has been changing the world’s economic map and once again came out forcibly in support of President Dima Rousseff.
With the currency ever so strong against the US dollar Brazilians are travelling overseas and spending as never before, according to the latest figures from the Central Bank.
Brazil is planning to set up its second scientific station in Antarctica and its first fully automatic data collecting module close to the Southern pole, revealed Jefferson Simoes coordinator of the country’s National Science and Technology Institute.
Brazil’s government managed Petrobras said its plan to more than double oil output will boost cash flow and eliminate the need to tap debt markets after about 10 years. Profits from oil sales will be enough to cover operating and debt costs starting in about 10 years, said Chief Financial Officer Almir Barbassa.
Brazil's Real soared Monday to its highest level against the US dollar since 1999. The dollar was buying 1.53 Real at midday on financial markets, representing a 0.9% increase from Friday. The dollar closed somewhat higher at 1.54 Real but below the 1.55 of twelve years ago.
A subsidiary of Caterpillar Inc., Progress Rail, announced plans to locate a locomotive manufacturing facility in the state of Minas Gerais to supply Brazil’s diesel-electric locomotive market.
China, the world's largest steelmaker and iron ore consumer, has set a target of dramatically increasing ore imports from Chinese-invested resources in the steel industry's 12th Five-Year Plan (2011-2015), an industry official said.
Brazil’s Embraer, the world's biggest maker of regional aircraft, chose International Aero Engines as engine supplier for its military transport plane KC-390, signalling that the company is moving ahead in its venture into defence within schedule.
Former president Lula da Silva described as ‘nonsense’ the biblical statement that the poor will be “blessed with treasure in heaven” and strongly supported the policies of his government (2003/2010) which helped millions in Brazil lift from poverty.