Brazil

• Monday, May 11th 2009 - 08:05 UTC

  Itaipu new deal between Brazil and Paraguay still difficult and distant

  

  Paraguay’s chances of a better deal from Brazil regarding the Itaipu Hydroelectric dam surplus power and its price are seen as “difficult” particularly because Brazil is approaching an electoral year, according to Asuncion press reports from journalists who accompanied President Fernando Lugo in his visit to Brasilia.

• Monday, May 11th 2009 - 07:42 UTC

  North Korean Foreign Affairs minister arrives in Brazil

  

  North Korea’s Foreign Affairs minister Pak Ui-Chun arrived Sunday in Brazil to meet with his counterpart Celso Amorim, according to a release from the Brazilian ministry. Brazil and North Korea established formal diplomatic relation in 2001.

• Saturday, May 9th 2009 - 07:24 UTC

  Brazil and Paraguay could only agree on a new summit in June

  

  Brazil and Paraguay failed to come to an agreement on proposed renegotiation of accords related to the Itaipu hydroelectric facility and are scheduled to meet again in early June, according to Paraguay’s Executive spokesperson Ruben Penayo.

• Saturday, May 9th 2009 - 06:34 UTC

  April car sales in Brazil fall 13.7% from the previous month

  

  Automobile sales in Brazil fell 13.7% in April from the previous month as consumer demand waned after four straight months of gains, the national automakers' association Anfavea said on Friday. Sales also fell 10.3% from April 2008 to 234.400 and automobile output dropped 6.9% month-on-month in April and was down 15.8% from a year earlier to 254.700 units.

• Friday, May 8th 2009 - 10:25 UTC

  Brazil central bankers see margin to further cut interest rates

  

  Brazilian central bank policy makers said the global economic slump may favour the ongoing reduction of interest rates without jeopardizing the inflation target, according to the minutes of the April 28-29 monetary policy meeting posted on the bank’s Web site.

• Friday, May 8th 2009 - 04:34 UTC

  Brazilian and Argentine manufacturers reach markets agreement

  

  Brazilian and Argentine manufacturers reach a tentative understanding to privilege the two countries markets and exports which should help overcome the ongoing trade dispute among Mercosur main partners.

• Thursday, May 7th 2009 - 08:41 UTC

  Uruguay/Brazil will operate in local currencies to ensure bilateral trade

  

  Uruguay and Brazil expect to have bilateral trade operations in their respective local currencies in place in a few months time, according to the Uruguayan Central Bank. The system is similar to that implemented between Brazil and Argentina and which is beginning to be operational.

• Thursday, May 7th 2009 - 08:34 UTC

  Brazil flooded in the north and under severe drought in the south

  

  Brazil rushed aid Wednesday by air, over land and through rapidly rising waters to scores of cities and towns isolated by floods that have killed at least 32 and left nearly 200,000 homeless. However in the south the country is suffering a severe months-long drought which is threatening hydroelectricity generation and agriculture.

• Wednesday, May 6th 2009 - 13:03 UTC

  Drought forces Brazil to increase gas imports from Bolivia

  

  Brazil will increase the amount of natural gas it imports from Bolivia later this month to bring on stream several thermoelectric power plants that had been inactive, Brazilian government managed energy company Petrobras said.

• Wednesday, May 6th 2009 - 12:44 UTC

  Lula da Silva wants more “clean” energy but also “more crude”

  

  Brazilian President Lula da Silva said that while his government will continue promoting the use of “clean” energy sources such as ethanol and bio-diesel, he wants government managed oil company Petrobras to press ahead in the search for additional crude.