Brazil

Friday, August 5th 2011 - 07:54 UTC
Celso Amorim Brazil’s new Defence minister; Jobim out on derogatory remarks

Brazilian Defence Minister Nelson Jobim resigned after criticizing recent government names to reporters and will be replaced by ex-foreign minister Celso Amorim, the president's office said Thursday.
Thursday, August 4th 2011 - 06:39 UTC
Brazil to request additional exceptions from Mercosur common external tariff

Brazil will request at least 100 additional exceptions from Mercosur common external tariff, TEC, as part of the program to prop local industry that was announced earlier this week and includes tax relief to the tune of 16 billion dollars.
Thursday, August 4th 2011 - 06:36 UTC
July marked the second largest net inflow, in record, of dollars into Brazil: 15.8bn

Brazil registered its second-largest volume of net monthly foreign-exchange inflows on record in July. Net dollar inflows in the month reached 15.83 billion, compared with 2.56 billion in net outflows in June and only 713 million in net inflows in July last year.
Wednesday, August 3rd 2011 - 22:11 UTC
“Buy Brazil Act” and Super Real are here to stay, says Minister

Brazil's strong currency (the so-called Super Real) is here to stay, and businesses have to get used to this new environment, said Trade and Industry Minister Fernando Pimentel a day after the government announced a massive industry support program which was described is the equivalent of the US “Buy America Act”
Wednesday, August 3rd 2011 - 00:31 UTC
Brazil announces 16bn dollars plan to prop industry and weaken the Super Real

A package of tax breaks and incentives unveiled Tuesday by Brazilian president Dilma Rousseff represent a good start to help local companies overcome competitive challenges presented by adverse local and global economic factors, but still fall short of what's needed, Brazilian industrial leaders said.
Tuesday, August 2nd 2011 - 12:50 UTC
Spanish group receives soft funding to expand wind farms in south of Brazil

Spain’s Elecnor group is building more wind power plants in Brazil’s southern state of Rio Grande do Sul totalling an estimated 300 MW. The undertaking was boosted by funding from Brazil economic and social development bank, BSDES)
Tuesday, August 2nd 2011 - 07:07 UTC
Brazil’s trade surplus more than doubles in July over a year ago

Brazil’s trade surplus more than doubled in July from a year ago fuelled by higher commodity prices in spite of the over-valued Super Real that is having an impact on manufactured goods exports and promotes the import of ‘cheap’ products.
Tuesday, August 2nd 2011 - 07:03 UTC
Brazil forecasted to become world’s third largest automobile manufacturer

Brazil’s car production capacity is expected to jump from the current 3.6 million units per year to 6.2 million by 2025 supported by massive investments from the industry estimated in 19 billion dollars by 2017, according to estimated from the Vanzolini Foundation in Sao Paulo.
Tuesday, August 2nd 2011 - 06:53 UTC
Brazil’s currency the most overvalued: anywhere from 52% to 149% vis-à-vis the US dollar

The Brazilian Real is the world's most expensive currency and is 149% overvalued against the dollar and the Colombian peso, the next most expensive currency is 108% above the US currency, according to British magazine The Economist, which has created a new version of the Big Mac index.
Monday, August 1st 2011 - 06:25 UTC
Brazil reiterates Falklands-flagged vessels will be banned from entering its ports

Brazil reiterated its intention of banning all Falklands’ flagged vessels from calling at the country’s ports and described as “illegal” the current round of oil exploration in the Islands’ waters.