Brazil

• Saturday, May 2nd 2009 - 09:39 UTC

  “Itaipú proposal” waits President Lugo when he visits Brazil

  

  Brazil could anticipate payments to Paraguay for the energy from the shared huge Itaipu dam, which should help the Treasury of the weakened President Fernando Lugo. However Brazil would also like to see an end to Paraguay’s intention of modifying the Itaipu dam accord, according to the Brazilian press quoting government sources.

• Friday, May 1st 2009 - 12:53 UTC

  Brazil’s pre-salt basin oil extraction becomes commercial operation

  

  Petrobras, Brazil’s state-managed oil company will begin Friday to extract oil from the off-shore pre-salt Tupi field and is “very secure” about production expectations, said Guilherme Estrella, head of exploration and production.

• Thursday, April 30th 2009 - 12:35 UTC

  Brazil lowers basic interest rate to a record 10.25%

  

  Brazil’s Central Bank cut its benchmark interest rate Selic for a third-straight time to a record low of 10.25% as it seeks to prevent the sluggish economy from contracting further this year.

• Thursday, April 30th 2009 - 12:24 UTC

  Swine flu: Lula da Silva calls for caution and responsibility from the media

  

  Brazilian president Lula da Silva called on Wednesday for “caution” when dealing with the swine flu information and “let us not play terrorism” with the disease. He underlined that Brazil “was prepared” to face such a challenge.

• Wednesday, April 29th 2009 - 04:06 UTC

  Output of world’s main iron ore producer plunges 37%

  

  Brazilian mining giant Vale do Rio Doce, the world’s largest iron ore producer and exporter, revealed Tuesday its output plunged 37% in the first quarter of 2009, compared to the same period a year ago, amid a sharp decline in demand.

• Monday, April 27th 2009 - 13:47 UTC

  Brazilian private sector divided over Venezuela and Mercosur

  

  The congressional controversy in Brazil over the incorporation of Venezuela has moved to the business sector. A group of Brazilian businessmen have begun lobbying strongly for Venezuela’s full membership but the process has been stalled by Brazilian and Paraguayan law makers.

• Saturday, April 25th 2009 - 10:38 UTC

  Brazilian unemployment climbs to 9% in March

  

  Brazilian unemployment remained steady with a growing tendency in March, having reached the highest since September 2007, 9%, reported the country’s Statistics and Geography Institute, Ibge.

• Saturday, April 25th 2009 - 10:36 UTC

  Chinese automakers tempted by the Brazilian market

  

  Chinese automaker Chery reportedly is planning a 700 million US dollars factory in Brazil to tap the country's growing market and to learn more about bio fuel engines according to Sao Paulo’s financial daily Gazeta Mercantil.

• Saturday, April 25th 2009 - 10:24 UTC

  Petrobras establishes new production records during March

  

  Brazil’s government managed oil and gas corporation Petrobras established in March new production records, according to a release from the company. The average oil and gas production last month reached 2,315,276 barrels of oil equivalent per day (boed), 9.5% more than a year ago and 3% above last month’s mark.

• Saturday, April 25th 2009 - 07:40 UTC

  Black population becomes the majority in Brazil

  

  Brazil and its almost 200 million population is no longer a country of white majority. The credit now belongs to the 49.6% black or mulatto population compared to the 49.4% defined as white and this is set to increase in coming years with that percentage increasing to 54, according to a recent report from the Rio do Janeiro Federal University.