Brazil

• Monday, October 26th 2009 - 12:51 UTC

  Brazil to increase diesel bio-fuel content to 5% next January

  

  Brazil will raise the bio-fuel content of its diesel to 5% up from 4% previously, after President Lula da Silva approved the proposal on Friday.

• Saturday, October 24th 2009 - 07:33 UTC

  Argentina, Paraguay pledge to save what is left of the Atlantic Forest

  

  Argentina and Paraguay have made a historic pledge to save one of the world’s most threatened forests. During a special ceremony at the XIIIth World Forestry Congress, the two governments agreed to work towards zero net deforestation in the Atlantic Forest, and to implement a package of measures that include national legislation to enforce those commitments.

• Saturday, October 24th 2009 - 07:19 UTC

  Paraguayan congress approves Itaipú treaty with Brazil

  

  The Paraguayan Senate approved by an ample majority the agreement with Brazil which represents a higher financial compensation for Paraguay from Itaipú, the world’s largest operational hydroelectric dam, a long standing claim which was addressed in several summits between presidents Lula da Silva and Fernando Lugo.

• Saturday, October 24th 2009 - 05:54 UTC

  Petrobras sells 4 billion US dollars in 2020 and 2040 bonds

  

  Brazilian oil giant Petrobras on Friday launched 2.5 billion US dollars of 2020 bonds and 1.5 billion USD of 2040 bonds, in what might be the largest ever sale of corporate debt by a Brazilian company.

• Saturday, October 24th 2009 - 05:43 UTC

  Brazilian financial sector “is crying with a full belly”

  

  Brazilian Economy minister Guido Mantega said that the financial sector is “crying with a full belly” in direct reference to complaints about inflowing capital tax which was decided this week to prevent a foreign exchange bubble between the local Real and the US dollar.

• Saturday, October 24th 2009 - 05:23 UTC

  Brazilian central bank leaves monetary expansion policy unchanged

  

  Brazil’s central bank kept its key Selic interest rate at a record low 8.75% and said its level was “consistent” with a non-inflationary recovery, signalling that no increase in borrowing costs is imminent.

• Friday, October 23rd 2009 - 08:51 UTC

  “Shell-shocked” Brazil demands an end to violence in “Olympic City” Rio

  

  Brazil’s main opposition party demanded responsibility from President Lula da Silva in combating the wave of violence rocking Rio do Janeiro and which has left at least 35 killed in shootings with the drugs’ gangs that even downed a police helicopter.

• Thursday, October 22nd 2009 - 08:22 UTC

  Lula’s presidential candidate receives support from Brazil’s main party

  

  Brazil’s main political force, Brazilian Democratic Movement, PMDB closed this week a deal with President Lula da Silva to support Minister Dilma Rousseff as the ruling coalition’s presidential candidate for next year’s election.

• Wednesday, October 21st 2009 - 12:47 UTC

  Brazil’s investment tax tumbles stock exchange and the Real

  

  Brazil's stock market suffered one of its worst one-day plunges in three months and the currency sank after the government imposed a tax on foreign investments in local stocks and bonds. The Bovespa index of the Sao Paulo stock exchange dropped 2.88% to 65,303.11, after closing at its strongest level since June 2008 the previous session.

• Wednesday, October 21st 2009 - 10:31 UTC

  Olympics’ Rio do Janeiro faces a seven year battle to clean the city

  

  The death toll of a weekend shootout in Rio do Janeiro shanty towns between police forces and drug dealers climbed to 25 with the discovery of several bodies, --one of them in a supermarket cart--, and the death of a third police officer from a downed helicopter.