Brazil

Thursday, July 2nd 2009 - 12:26 UTC
Brazilian inflation seems under control; further rate cuts expected

Brazil's government set its inflation target for 2011 at 4.5%, seeing no evidence of significant inflationary pressures going forward. May consumer price inflation or IPCA, was 0.47%, and 5.2% in the last twelve months and is expected to have slowed down further during June.
Thursday, July 2nd 2009 - 09:20 UTC
Boosted by tax exemption GM Brazil breaks sales record

General Motors Brazil car sales broke a record in June thanks to continued government tax breaks for auto makers, the company said Wednesday. The company said sales soared to 55.629 vehicles last month, the highest monthly sales volume in the company's 84-year history in Brazil.
Wednesday, July 1st 2009 - 12:54 UTC
Brazil boosts capital goods sector cutting taxes and lowering rates

Brazil will cut sales taxes on 70 capital goods and lower the long-term interest rate charged by the state development bank, BNDES in a bid to speed up the economy’s recovery, announced Finance Minister Guido Mantega.
Tuesday, June 30th 2009 - 15:01 UTC
Top advisor and a banker leaving Lula da Silva administration

Two officials from the Lula da Silva administration which have played crucial roles are expected to leave the government in the coming months. One of them is presidential advisor Roberto Mangabeira Unger who is returning to Harvard University, the other banker Henrique Meirelles who is planning to run for governor of the state of Goias.
Tuesday, June 30th 2009 - 06:40 UTC
Brazil-China bilateral trade in Real and Yuan instead of US dollar

The Brazilian Central Bank announced it had reached an initial understanding with China for the gradual elimination of the US dollar in bilateral trade operations which in 2009 are estimated to reach 40 billion US dollars.
Saturday, June 27th 2009 - 17:11 UTC
Lula da Silva Is Likely To Run For The Presidency Again In 2014

Lula, who is barred by the constitution from running for a third straight term in October 2010, said he would support likely Workers' Party candidate Dilma Rousseff if she won next year and would not seek to succeed her in 2014.
Saturday, June 27th 2009 - 15:11 UTC
Flight AF 447: Brazil Ends Search for bodies and wreckage

Brazil’s Air Force and Navy called off permanently a search for bodies and wreckage from the Air France airplane that crashed in the Atlantic Ocean, according to a statement posted on the Air Force’s Web site.
Saturday, June 27th 2009 - 10:42 UTC
Paraguayan president insists in recovering Itaipu “energy sovereignty”

President Fernando Lugo reiterated Friday that Paraguay did not yield and will not yield “energy sovereignty” claims for power generated from South America’s largest hydroelectric dam Itaipu which it shares with neighbouring Brazil.
Saturday, June 27th 2009 - 10:38 UTC
Lula da Silva’s main Senate ally faces strong corruption claims

One of Brazilian president Lula da Silva main allies in Congress could have to resign or be impeached according to the latest news from Brasilia. Former President Jose Sarney and currently president of the Senate, faces mounting accusations of corruption and nepotism.
Friday, June 26th 2009 - 12:49 UTC
Lula da Silva unveils agriculture 53 billion USD support plan

Brazilian president Lula da Silva announced Thursday the 2009/2010 Agriculture and Livestock Plan which will provide the equivalent of 53 billion US dollars in aid, to help farmers take advantage of rising global demand for food. This represents a 37% increase over the previous farm year.