Brazil

• Saturday, February 12th 2011 - 05:17 UTC

  Brazilian shipyard wins Petrobras 4.6 billion contract for seven ultra-deep rigs

  

  Brazil's government managed oil and gas giant Petrobras said on Friday that local shipyard Estaleiro Atlantico Sul (EAS) had won the tender to build seven drilling rigs in Brazil.

• Friday, February 11th 2011 - 18:38 UTC

  Brazil tightens mining legislation focused on local processing and jobs

  

  Brazil announced an overhaul of the management of its mineral resources and booming mining industry geared to end what it describes as “reverse specialization” based on the export of raw unprocessed minerals with minimum benefit for local labour and processing industry.

• Friday, February 11th 2011 - 06:42 UTC

  Brazil’ central bank forex surpass the 300 billion USD mark…but at a cost

  

  Brazil's forex reserves surpassed the 300 billion US dollars mark for the first time ever this week according to the country's central bank as a result of recent heavy foreign exchange inflows and accelerated US dollar buying by the institution.

• Thursday, February 10th 2011 - 07:02 UTC

  Brazil poised for another record crop of soybeans: 69/70 million tons

  

  Brazil could harvest a record crop of 70 million tons of soybeans in 2011 because of improved climate conditions and expansion of the area planted according to Hamburg based Oil World consultants.

• Wednesday, February 9th 2011 - 20:55 UTC

  Brazilian January inflation highest since April 2005

  

  Brazilian officials say inflation in January was the highest monthly jump in almost six years. The government's IBGE statistics bureau said that January inflation was 0.83%, the biggest monthly jump since April 2005, when inflation was 0.87%.

• Wednesday, February 9th 2011 - 20:42 UTC

  Brazil to trim budget and fight inflation by eliminating all 2009 stimuli

  

  Brazil announces 50 billion Real (30 billion US dollars) cuts from this year’s budget as President Dilma Rousseff seeks to help the central bank contain inflation and lower some the world’s highest real interest rates.

• Tuesday, February 8th 2011 - 17:49 UTC

  Rate hikes expected in Brazil and Chile as global commodity prices drive inflation

  

  Global commodity prices continue to be the main driver of inflation in both Brazil and Chile, according to the latest Latin America update report from Capital Economics.

• Tuesday, February 8th 2011 - 01:18 UTC

  Brazil reaffirms links with Venezuela; calls for quick Mercosur integration

  

  Brazil expects Venezuela’s full incorporation to Mercosur to be approved “soon” said Foreign Affairs minister Antonio Patriota during a meeting on Monday in Caracas with his peer Nicolas Maduro in Caracas to reaffirm strong bilateral links.

• Monday, February 7th 2011 - 20:54 UTC

  Geithner implicitly endorses “capital controls” during Brazilian visit

  

  US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.

• Monday, February 7th 2011 - 18:07 UTC

  US condemns South American/Arab leaders summits, say Wikileaks cables

  

  Brazilian policy towards Middle East and the Arab world harm US strategy in the region according to US embassy diplomatic cables between 2004 and 2009, recently exposed by Wikleaks.