Brazil

• Wednesday, May 6th 2009 - 10:22 UTC

  Brazil promises “fair and viable” solution for Itaipu differences with Paraguay

  

  Brazilian president Lula da Silva and the ministerial cabinet will consider Wednesday a “fair and viable” solution to differences with Paraguay regarding the energy from the world’s largest operational hydroelectric dam, Itaipú, announced in Brasilia Foreign Affairs minister Celso Amorim.

• Monday, May 4th 2009 - 08:37 UTC

  China becomes main destination of Brazilian exports ahead of US

  

  China has become the main purchaser of Brazilian exports during the first quarter of this year displacing United States which held the position undisputed for decades, according to reports in the Sao Paulo press based on the latest statistics.

• Saturday, May 2nd 2009 - 09:45 UTC

  Brazil launches project to become leading oil super-power

  

  Brazil government managed energy company Petrobras on Friday lifted the first sub-salt oil from the massive, ultra-deep, offshore Tupi field in the Santos basin, an action Brazil's government hopes will launch a new era for Latin America's largest economy.

• 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.