Brazil

• Friday, May 8th 2009 - 04:34 UTC

  Brazilian and Argentine manufacturers reach markets agreement

  

  Brazilian and Argentine manufacturers reach a tentative understanding to privilege the two countries markets and exports which should help overcome the ongoing trade dispute among Mercosur main partners.

• Thursday, May 7th 2009 - 08:41 UTC

  Uruguay/Brazil will operate in local currencies to ensure bilateral trade

  

  Uruguay and Brazil expect to have bilateral trade operations in their respective local currencies in place in a few months time, according to the Uruguayan Central Bank. The system is similar to that implemented between Brazil and Argentina and which is beginning to be operational.

• Thursday, May 7th 2009 - 08:34 UTC

  Brazil flooded in the north and under severe drought in the south

  

  Brazil rushed aid Wednesday by air, over land and through rapidly rising waters to scores of cities and towns isolated by floods that have killed at least 32 and left nearly 200,000 homeless. However in the south the country is suffering a severe months-long drought which is threatening hydroelectricity generation and agriculture.

• Wednesday, May 6th 2009 - 13:03 UTC

  Drought forces Brazil to increase gas imports from Bolivia

  

  Brazil will increase the amount of natural gas it imports from Bolivia later this month to bring on stream several thermoelectric power plants that had been inactive, Brazilian government managed energy company Petrobras said.

• Wednesday, May 6th 2009 - 12:44 UTC

  Lula da Silva wants more “clean” energy but also “more crude”

  

  Brazilian President Lula da Silva said that while his government will continue promoting the use of “clean” energy sources such as ethanol and bio-diesel, he wants government managed oil company Petrobras to press ahead in the search for additional crude.

• Wednesday, May 6th 2009 - 10:22 UTC

  Brazil promises “fair and viable” solution for Itaipu differences with Paraguay

  

  Brazilian president Lula da Silva and the ministerial cabinet will consider Wednesday a “fair and viable” solution to differences with Paraguay regarding the energy from the world’s largest operational hydroelectric dam, Itaipú, announced in Brasilia Foreign Affairs minister Celso Amorim.

• Monday, May 4th 2009 - 08:37 UTC

  China becomes main destination of Brazilian exports ahead of US

  

  China has become the main purchaser of Brazilian exports during the first quarter of this year displacing United States which held the position undisputed for decades, according to reports in the Sao Paulo press based on the latest statistics.

• Saturday, May 2nd 2009 - 09:45 UTC

  Brazil launches project to become leading oil super-power

  

  Brazil government managed energy company Petrobras on Friday lifted the first sub-salt oil from the massive, ultra-deep, offshore Tupi field in the Santos basin, an action Brazil's government hopes will launch a new era for Latin America's largest economy.

• Saturday, May 2nd 2009 - 09:39 UTC

  “Itaipú proposal” waits President Lugo when he visits Brazil

  

  Brazil could anticipate payments to Paraguay for the energy from the shared huge Itaipu dam, which should help the Treasury of the weakened President Fernando Lugo. However Brazil would also like to see an end to Paraguay’s intention of modifying the Itaipu dam accord, according to the Brazilian press quoting government sources.

• Friday, May 1st 2009 - 12:53 UTC

  Brazil’s pre-salt basin oil extraction becomes commercial operation

  

  Petrobras, Brazil’s state-managed oil company will begin Friday to extract oil from the off-shore pre-salt Tupi field and is “very secure” about production expectations, said Guilherme Estrella, head of exploration and production.