Brazil

Thursday, May 13th 2010 - 10:56 UTC
Brazil Poised to Raise Rates and Make Significant Cuts in Government Spending

Brazilian President Lula da Silva on Wednesday said the country's interest rates could go up again this year “if necessary,” even in the run-up to the presidential election. Brazil is holding elections next October and will be voting for the successor of Lula da Silva who is barred from running a third consecutive mandate.
Thursday, May 13th 2010 - 10:38 UTC
Brazil Announces Discovery of Field with 4.5 Billion Barrels of Light Oil

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has revealed that the 2-ANP-1-RJS well, dubbed Franco, is estimated to hold 4.5 billion barrels of recoverable light oil.
Tuesday, May 11th 2010 - 21:54 UTC
Current Development Model Can’t Continue, Warns One of Brazil’s top Economists

“With no new international order in sight following the crisis, the only certain thing is that the model of development which caused it can not continue”, said Brazilian economist Maria da Conceição Tavares during a magisterial conference before the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, in Santiago de Chile.
Tuesday, May 11th 2010 - 01:14 UTC
Lula da Silva Criticizes “Capitalist Myopia” and Food Prices Global Speculation

Brazilian president Lula da Silva thanked the United Nations for the two prizes awarded for his leadership in fighting hunger and poverty with a strong speech condemning rich countries, global speculation and “capitalist myopia”.
Tuesday, May 11th 2010 - 00:38 UTC
FAO Honors Lula da Silva for Leadership in Fight Against Hunger

The United Nations Food and Agriculture Organization (FAO) honoured Brazilian President Lula da Silva for his leadership in the fight against hunger and inadequate nutrition in his country and across the world.
Monday, May 10th 2010 - 18:19 UTC
Brazilian Contract for Jet Fighters, Another Chip in the EU/Mercosur Trade Talks

French resistance to the resumption of Mercosur European Union trade talks caused great disappointment among the block’s members, but Brazil believes it has a strong bargaining chip for a greater opening of the European agriculture market: the several billions US dollars fighter planes contract for the Brazilian Air Force.
Monday, May 10th 2010 - 05:45 UTC
Serra Wants Mercosur With Member Vote Linked to GDP and Population

Leading Brazilian presidential candidate José Serra said it was “very good” for his campaign that Venezuela’s leader Hugo Chávez should openly support his main competitor incumbent hopeful Dilma Rousseff and again warned about the shortcomings of Mercosur.
Saturday, May 8th 2010 - 06:33 UTC
Petrobras Sets Monthly Record Oil Production in April: 2.033 Million bpd

Brazilian government managed oil and gas corporation Petrobras (SAO:PETR3) set a monthly record for oil production in April with 2.033 million barrels per day topping the previous record of 2.004 million bpd from September 2009, the company said Friday.
Saturday, May 8th 2010 - 06:28 UTC
Brazil’s Bovespa Confirms Biggest Weekly Decline since February

Brazil’s Bovespa stock index fell for a second day on Friday closing with the biggest weekly decline since February 2009, on concern that Europe’s debt crisis is worsening and rescue packages could have to be extended to Portugal and Spain.
Saturday, May 8th 2010 - 06:22 UTC
Brazilian Farmers Prospect for Phosphates to Cap Fertilizer Suppliers’ Dependence

Farmers in Brazil have teamed up to drill an area the size of New York for phosphate-based fertilizers, seeking to cut dependency on producers including Vale S.A. (NYSE:VALE) and Mosaic Co. (NYSE:MOS) after prices surged.