Brazil

• Tuesday, April 5th 2011 - 08:53 UTC

  Brazil’s Vale yields to government pressure names new CEO

  

  Brazilian mining giant Vale, the world's biggest producer of iron ore, has chosen a new chief executive. Former Vale executive Murilo Ferreira will return to the company on 22 May.

• Monday, April 4th 2011 - 02:11 UTC

  Islamic extremists operating illegally in Triple Frontier area, says Brazilian magazine

  

  Islamic extremist groups such as Al Qaeda, Hezbollah and Hamas are illegally operating in the Triple Frontier area shared by Argentina, Paraguay and Brazil, where they allegedly gather large amounts of money, recruit new militants and plan additional attacks, Brazilian magazine Veja denounced.

• Saturday, April 2nd 2011 - 08:13 UTC

  Brazil’s March sales of cars rose 11.6% but fell 14.4% from a year earlier

  

  Sales of new cars and light commercial vehicles rose 11.6% in March from February, Brazil's Federation of Vehicle Distributors, Fenabrave, said on Friday, but they fell sharply from a year ago.

• Saturday, April 2nd 2011 - 08:01 UTC

  Vale’s CEO, first victim of Brazil’s policy to cut reliance on commodities exports

  

  Brazil's government is considering creating an iron ore export tax meant to spur investment in local steel production, a leading Brazilian newspaper reported on Friday. The measure is in the framework of President Dilma Rousseff’s intention of cutting Brazil’s reliance on non processed commodities exporter.

• Saturday, April 2nd 2011 - 07:36 UTC

  Brazil’s February industrial production expands at fastest pace in eleven months

  

  Brazil’s industrial production rose at the fastest pace in 11 months in February. Output rose 1.9% from January and 6.9% from the same month a year earlier, the national statistics agency said.

• Saturday, April 2nd 2011 - 07:28 UTC

  Brazil planning further taxing on the inflow of “speculative” foreign capital

  

  The Brazilin currency rallied more than 1.0% on Friday closing at its strongest level since August 21, 2008. The Real jumped 1.16% to 1.612 per US dollar. The gains came after a Reuters report that the government has decided to tolerate a Real trading stronger than the 1.65-per-dollar market in the short term.

• Saturday, April 2nd 2011 - 06:53 UTC

  The delicate balance of ‘cooperation’ and ‘competition’ between China and Brazil

  

  Brazilian president Dilma Rousseff and her Chinese peer Hu Jintao will address the Libyan crisis and other issues related to the Chinese currency, Yuan, which has Brazilian manufacturers most concerned, anticipated the Brazilian Foreign Affairs ministry.

• Saturday, April 2nd 2011 - 06:51 UTC

  Brazilian congress set to approve this week compensation for Paraguayan power

  

  The Brazilian government is intent in increasing to 360 million US dollars annual payment for the surplus power from the world’s largest operational hydroelectric dam Itaipu, shared with Paraguay promised Marco Aurerlio Garcia President Dilma Rousseff international affairs advisor and special envoy.

• Friday, April 1st 2011 - 01:42 UTC

  Amazon drought consequences still affect an area 3.5 times the size of Texas

  

  A new study has revealed widespread reductions in the greenness of Amazon forests caused by the last year's record-breaking drought.

• Friday, April 1st 2011 - 00:25 UTC

  Brazil’s central bank just manages to slow the Real currency advance

  

  Brazil’s Real retreated from the highest level since August 2008 after the central bank intervened five times Thursday to slow the currency’s advance. The Real fell 0.2% to 1.6318 per dollar, from 1.6288 Wednesday.