Brazil

• Friday, April 8th 2011 - 23:30 UTC

  Brazil’s Real at a new high; investors brush aside government measures

  

  Brazil’s currency climbed again on Friday trading at its best levels in more than two years, as investors brushed aside another Brazilian government measure to limit credit consumption in an attempt to tame inflation.

• Friday, April 8th 2011 - 22:10 UTC

  Shell moves heavily into bio-fuels from sugar cane bagasse in Brazil

  

  Royal Dutch Shell Plc, the world’s biggest distributor of bio-fuels, is shifting research to waste from sugar-cane farming after ending an algae project in Hawaii. Shell, Iogen Corp. and Codexis have been researching enzymes to produce cellulose ethanol from wheat stalks and sugar-cane bagasse, a sugar industry waste product.

• Friday, April 8th 2011 - 07:32 UTC

  Brazilian inflation remains untameable; Real hits a new high

  

  Brazilian inflation accelerated more than economists expected in March from a year earlier, led by food and transportation costs, taking the annual rate near the upper limit of the government’s target range. On Thursday the Brazilian currency Real also further strengthened to a record 1.58 to the US dollar in spite of the latest measures.

• Friday, April 8th 2011 - 07:27 UTC

  Brazil doubles tax on consumer credit to fight inflation

  

  Brazil doubled a tax on consumer credit as the administration of President Dilma Rousseff’s shifts its focus to fighting inflation. Beginning Friday consumer loans, excluding mortgages, will be subject to a 3% annual tax, up from a previous rate of 1.5%, according to a Finance Ministry statement.

• Thursday, April 7th 2011 - 18:05 UTC

  In spite of latest measures, Brazil’s ‘currency war’ looks set to rumble on

  

  If recent evidence is anything to go by, Brazil’s latest effort to stem the rise in the Real is unlikely to have a lasting impact on the markets, according to Capital Economics.

• Thursday, April 7th 2011 - 10:15 UTC

  Brazil’s latest effort to stem flood of capital and contain the ‘Mighty Real’

  

  Brazil unveiled Wednesday the latest effort to stem a flood of foreign capital that is driving the local currency sky-high and undermining the competitiveness of the country’s exports. Finance Minister Guido Mantega blamed the currency woes on the Federal Reserve policy that keeps US interest rates near zero.

• Thursday, April 7th 2011 - 08:56 UTC

  Brazil rejects as ‘unjustified’ request to halt work on a huge dam in the Amazon

  

  Brazil has said a request to halt work on its massive hydro-electric dam in the Amazon rainforest is unjustified despite environmental concerns. Brazil's foreign ministry was responding to the request by the Inter-American Commission on Human Rights.

• Wednesday, April 6th 2011 - 06:17 UTC

  President Rousseff says Brazil needs to spend money on defence

  

  Brazilian President Dilma Rousseff strongly supported the need to spend money on defence at a time when she is making big budget cuts in many areas.

• Wednesday, April 6th 2011 - 05:55 UTC

  Brazil decides to impose anti-dumping tariff on several Chinese synthetic fibres

  

  Brazil will apply import tariffs on specific goods from China and the United States, the latest measures to help stem a flood of cheap imports that is eroding the country's trade balance, according to a statement from the Industry and Trade ministry.

• Tuesday, April 5th 2011 - 10:08 UTC

  Based on signs of greater fiscal restraint, Fitch raises Brazil’s credit rating to BBB

  

  Brazil’s credit rating was raised one level by Fitch Ratings, which cited the economy’s growth prospects and budget policy under President Dilma Rousseff.