Brazil

• Friday, October 22nd 2010 - 03:16 UTC

  Brazil set to grow 7.5% this year and 5.9% in 2011; inflation 5.1% and 5%

  

  Brazil’s GDP may grow 7.5% this year, up from a previous estimate of 7%, the Finance Ministry said in a report published on its website Thursday. The ministry also raised its forecast for average growth between 2010 and 2014 to 5.9%, from 5.7%.

• Friday, October 22nd 2010 - 03:07 UTC

  Geithner promises Brazil it won’t allow the US dollar to weaken

  

  US Treasury Secretary Timothy Geithner told Brazil’s Finance Minister Guido Mantega that the Obama administration won’t allow the US dollar to weaken, Mantega said.

• Friday, October 22nd 2010 - 02:51 UTC

  Brazil predicted to displace Italy as seventh world economy in 2011

  

  The Economist Intelligence Unit is predicting that in 2011 Brazil would move ahead of Italy into seventh place in the ranking of the largest world economies with a GDP of 2 trillion US dollars.

• Friday, October 22nd 2010 - 02:34 UTC

  Brazil keeps benchmark interest rate at 10.75% in spite of inflation peak

  

  Brazil’s central bank kept its benchmark overnight rate unchanged Wednesday as policy makers gauge whether a peak in inflation is temporary. The policy committee, led by bank President Henrique Meirelles in a unanimous decision, left the rate at 10.75% for a second straight meeting.

• Thursday, October 21st 2010 - 07:30 UTC

  Lula da Silva promises to defend currency from further appreciation

  

  Brazil’s Lula da Silva said that the G-20 group must address the issue of the “currencies war” in direct reference to the forced depreciation by some rich countries of their currencies which negatively affects the competitiveness of its trade partners, particularly in the developing world.

• Wednesday, October 20th 2010 - 03:33 UTC

  Dilma Rousseff seems back on track and leads with 51% vote intention

  

  The Brazilian ruling party candidate Dilma Rousseff has widened her lead ahead of a presidential runoff vote on October 31, a poll showed, suggesting her campaign may be back on pace after a rough two weeks in which she appeared to be back-pedalling

• Wednesday, October 20th 2010 - 03:02 UTC

  Fiat plans to invest 6 billion USD by 2015 in Brazil to boost production

  

  Italy's Fiat will invest 10 billion Reais (USD 6 billion) in Brazil by 2015 in operations that include production of cars, auto parts and agricultural machinery.

• Tuesday, October 19th 2010 - 03:56 UTC

  Fears strong growth in Brazil will fuel inflation in months ahead

  

  Economists in a weekly central bank survey raised for a fifth straight week their forecasts for Brazil's benchmark inflation index in 2010 and 2011, underscoring concerns that growth in the economy will raise consumer prices in the months ahead, the bank said.

• Tuesday, October 19th 2010 - 03:50 UTC

  Brazil’s Vale “very well positioned” to continue as world’s largest mining group

  

  Brazil’s Vale Rio Doce, the world’s biggest iron- ore miner, said it is not planning any more acquisitions because it has enough assets to double its capacity.

• Tuesday, October 19th 2010 - 03:28 UTC

  Brazil again ups tax on incoming capital; calls for end to the “currency war”

  

  Brazil increased taxes on foreign investments in fixed-income securities for the second time in a month and Finance Minister Guido Mantega said countries trying to defend exports must end the “currency war.”