Brazil

• Friday, October 28th 2011 - 04:42 UTC

  Brazil encouraged by Europe’s plan announcement but wants to look at details

  

  Brazil's government is encouraged by Europe's announcement of a plan to resolve the nagging debt crisis, though more details are needed on the proposal to determine its viability, Brazilian Finance Minister Guido Mantega said Thursday.

• Thursday, October 27th 2011 - 20:41 UTC

  VW plans 2bn factory in Pernambuco with Brazilian long-term soft loan

  

  Volkswagen AG is negotiating with Brazilian authorities to build a 2 billion dollars factory in Brazil -- the latest foreign automaker looking to raise local output after a tax increase on imported cars

• Thursday, October 27th 2011 - 16:20 UTC

  Peugeot cuts costs in Europe and announces double production in Brazil

  

  French auto giant PSA Peugeot Citroen plans to double production in Brazil by 2015, part of a global shift towards emerging economies hastened by the downturn in Europe and the United States.

• Thursday, October 27th 2011 - 15:50 UTC

  Brazilian central bank suggests ‘moderate’ cuts to interest rates

  

  Brazil’s central bank said slowing global growth will have a large enough disinflation impact and allow policy makers to carry out “moderate” cuts to interest rates.

• Thursday, October 27th 2011 - 06:24 UTC

  Brazilian Sports minister resigns: fifth to be forced out over corruption allegations

  

  Brazil's sports minister resigned on Wednesday over a corruption scandal, the country's GloboNews television station said, reviving concern over President Dilma Rousseff's unstable ruling coalition and the country's lagging preparations for the 2014 World Cup.

• Wednesday, October 26th 2011 - 13:42 UTC

  Fitch ratifies Brazil’s credit rating and medium term growth prospects

  

  Fitch Ratings said it had decided to maintain Brazil's BBB investment grade credit rating and predicted the outlook for the Latin America’s largest economy would remain stable.

• Wednesday, October 26th 2011 - 03:13 UTC

  Brazil’s total federal debt stands at just over a trillion dollars, said the Treasury

  

  Brazil's total federal debt rose in September as the Treasury issued new debt at home and abroad, the government reported this week. The country's federal debt load increased 2.3% in the month to Reais 1.809 trillion (1.02 trillion dollars), from Reais 1.768 trillion in August, the Treasury said in a statement.

• Wednesday, October 26th 2011 - 03:08 UTC

  In eight years Brazilian officials skimmed 37.7bn dollars from government coffers

  

  Brazilian officials skimmed at least a staggering equivalent of 37.7bn dollars from government coffers in just eight years of corruption cases from 2003-2010, the Rio do Janeiro daily O Globo reported, based on numbers from the country’s Public Accounts ombudsman.

• Wednesday, October 26th 2011 - 03:04 UTC

  Brazil asks WTO to study “currency ‘misalignments” and global trade

  

  Brazilian government has proposed further study at the World Trade Organization on the effects that exchange rate fluctuations have on international trade, the foreign ministry said this week.

• Wednesday, October 26th 2011 - 02:36 UTC

  Brazilian president misses regional summit but prepares for G20 in France

  

  Brazilian president Dilma Rousseff won’t be attending the Ibero-American summit to take place in Paraguay next Friday and Saturday and will be represented by her Foreign Affairs minister Antonio Patriota, it was announced Tuesday.