Brazil

• Tuesday, July 26th 2011 - 13:29 UTC

  Petrobras plans to double oil output by 2015 and exit debt market in 10 years

  

  Brazil’s government managed Petrobras said its plan to more than double oil output will boost cash flow and eliminate the need to tap debt markets after about 10 years. Profits from oil sales will be enough to cover operating and debt costs starting in about 10 years, said Chief Financial Officer Almir Barbassa.

• Tuesday, July 26th 2011 - 07:38 UTC

  Real soars to its highest in 12 years in spite of billions to support the US dollar

  

  Brazil's Real soared Monday to its highest level against the US dollar since 1999. The dollar was buying 1.53 Real at midday on financial markets, representing a 0.9% increase from Friday. The dollar closed somewhat higher at 1.54 Real but below the 1.55 of twelve years ago.

• Monday, July 25th 2011 - 21:09 UTC

  Caterpillar expands diesel-electric locomotive manufacturing plant in Brazil

  

  A subsidiary of Caterpillar Inc., Progress Rail, announced plans to locate a locomotive manufacturing facility in the state of Minas Gerais to supply Brazil’s diesel-electric locomotive market.

• Monday, July 25th 2011 - 21:01 UTC

  China determined to break the grip of the three major global iron ore miners

  

  China, the world's largest steelmaker and iron ore consumer, has set a target of dramatically increasing ore imports from Chinese-invested resources in the steel industry's 12th Five-Year Plan (2011-2015), an industry official said.

• Monday, July 25th 2011 - 20:34 UTC

  IAE engines for Brazil’s Embraer first defence cargo aircraft KC-390

  

  Brazil’s Embraer, the world's biggest maker of regional aircraft, chose International Aero Engines as engine supplier for its military transport plane KC-390, signalling that the company is moving ahead in its venture into defence within schedule.

• Saturday, July 23rd 2011 - 04:09 UTC

  Lula da Silva: forget biblical nonsense, the poor are entitled to heaven now and here

  

  Former president Lula da Silva described as ‘nonsense’ the biblical statement that the poor will be “blessed with treasure in heaven” and strongly supported the policies of his government (2003/2010) which helped millions in Brazil lift from poverty.

• Saturday, July 23rd 2011 - 02:09 UTC

  President Rousseff is “playing with fire” warn ruling coalition allies

  

  The Brazilian Executive is “playing with fire” in the way it addresses relations with other partners of the ruling coalition warned the Party of the Republic (PR) which is threatening to join the opposition conditioning the government’s majority in Congress.

• Saturday, July 23rd 2011 - 02:05 UTC

  Brazil: race and skin colour condition jobs, relations with police and magistrates

  

  Most Brazilians feel that race and skin colour have great influence in labour relations and in the way they are treated by police and the judiciary, according to a report from the Brazilian Geography and Statistics Institute, IBGE.

• Friday, July 22nd 2011 - 06:24 UTC

  Organizing and hosting major sports events deliver a “positive social legacy”

  

  The upcoming World Cup soccer tournament and Summer Olympics in Brazil should be harnessed to deliver a “positive social legacy” for the South American country and beyond, the United Nations envoy for sports and peace has said.

• Friday, July 22nd 2011 - 06:20 UTC

  Brazil: record low unemployment and more job-creation in second half anticipated

  

  Brazil’s unemployment rate fell to its lowest since January in spite of efforts by policy makers to cool growth and inflation in Latin America’s biggest economy. The jobless rate fell to 6.2% in June, from 6.4% in May and 7% a year earlier, the national statistics agency said in a report distributed in Rio de Janeiro.