The Brazilian central bank is comfortable with its inflation forecast for 2011 despite a stronger-than-expected June reading, which spurred speculation that even higher interest rates will be necessary to keep prices in check.
Brazil's ambitious high-speed train project was postponed once again due to a lack of bidders but Brazilian officials anticipated they would hold two separate bids for the project to link Rio de Janeiro and Sao Paulo on time for the 2016 Olympic Games.
Sugar supplies will remain limited until the 2012-13 harvest begins in top producer Brazil, broker FCStone do Brasil said citing futures traded in New York. The rise in sugar price helped push the FAO Food Price Index to 234 points in June, which is 39% higher than a year ago.
The Brazilian government will not review multibillion-dollar bids for a fighter jet deal until the start of 2012, Defence Minister Nelson Jobim told reporters in France.
Brazilian President Dilma Roussef offered Venezuela leader Hugo Chávez her support over the mandate’s battle against cancer. According to the Presidential House press Secretary, Rousseff expressed her sentiments during a phone call conversation held this morning.
Brazil’s central bank changed currency market rules to curb bets that the Real will appreciate against the dollar, according to an e-mailed statement. Brazil will require that banks make non-interest bearing deposits with the central bank equivalent to 60% of their short dollar positions exceeding 1 billion US dollars, the bank said.
Israel Aerospace Industries signed a joint venture with Brazil's Synergy Group to manufacture Unmanned Air Vehicles (UAV) (drones) to fight drug trafficking in Brazilian borders under the condition that the aircrafts are not sold to Venezuela.
Sugar jumped the most since October after an industry group said output would decline in Brazil, the world’s biggest grower. Production in the Centre South, Brazil’s largest growing area, may drop by as much as 1 million metrics in the current season compared with a year earlier, Unica said on Friday.
Fiat will trim some production in Brazil and Argentina for a week because of a trade spat between the South American neighbours, the Italian car maker said on Friday.
Four Brazilian unmanned aircraft guided by remote control, Drones, will begin operating in August along the Bolivian border announced Felipe Caceres, Bolivian Social Defence Deputy Minister.