Brazilian president Dilma Rousseff is facing further political unrest in the ruling coalition following the naming of a new Transport Minister, apparently a unilateral decision that was not shared by several allies.
Brasil Foods, Brazil’s biggest maker of TV dinners and frozen meat products, won conditional approval of its 3.8 billion US dollars takeover of rival Sadia SA as Brazilian regulators ordered it to stop using a top brand and sell some assets to ensure domestic competition.
Brazilian retail tycoon Abilio Diniz has suspended plans to merge his supermarket chain Grupo Pao de Acucar with the local arm of France's Carrefour. The move comes after the Brazilian state development bank BNDES and a private fund backed out of supporting the deal.
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.