Brazil

• Tuesday, July 7th 2009 - 11:16 UTC

  Brazilian beef processor raises cattle slaughter capacity to 26.000 head

  

  Brazilian corporation JBS SA, the world's biggest beef processor said on Monday it had raised its slaughtering and de-boning capacity in Brazil by around 25% through the leasing of five more plants.

• Tuesday, July 7th 2009 - 10:07 UTC

  Corruption claims erode Lula da Silva’s control over the Senate

  

  The Brazilian Senate --whose president Jose Sarney has been accused of corruption--, apparently has a secret bank account operating millions of US dollars and a private “bunker” for a few, with facilities for “intimate” dates, according to reports in the Sao Paulo and Brasilia press.

• Monday, July 6th 2009 - 09:54 UTC

  Brazil creates Fisheries ministry; plans 40% landings increase in 3 years

  

  Brazilian president Lula da Silva sanctioned last week the bill which confers the Special Secretariat of Aquaculture and Fisheries, SEAP, the status of ministry, enacted to boost the fishing sector and develop the country’s maritime and fluvial potential.

• Monday, July 6th 2009 - 08:59 UTC

  Lula da Silva stands by his Senate ally; warns about “instability”

  

  Brazilian president Lula da Silva said that the resignation or suspension of Jose Sarney as president of the Senate could generate a “very serious crisis” leading to “instability”, according to official sources in Congress.

• Saturday, July 4th 2009 - 09:17 UTC

  Brazil threatens to take Argentina to WTO on import licences

  

  Brazil may file a complaint at the World Trade Organization against Argentina because of its delays in issuing import licenses for Brazilian goods according to Foreign Trade Chamber Secretary Lyntha Spindola.

• Saturday, July 4th 2009 - 08:21 UTC

  Petrobras begins refining oil from the pre-salt basin

  

  Brazil’s government managed oil corporation Petrobras reported this week it had begun refining oil from the Tupi field, located at the pre-salt area of Santos Basin which is Brazil’s great hope for becoming a major player in the world’s hydrocarbons market.

• 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.