Brazil

Sunday, October 26th 2008 - 20:00 UTC
Serious setback for President Lula in Sao Paulo mayor race

Brazil's ruling party and President Lula da Silva suffered a serious blow Sunday in the country's main city Sao Paulo where incumbent conservative mayor Gilberto Kassab comfortably won a second period defeating Marta Suplicy in the run off by almost twenty points.
Saturday, October 25th 2008 - 20:00 UTC
Brazilian group becomes Mercosur footwear leader

Sao Paulo Alpargatas, Brazil largest textile and Footwear Company announced Friday the acquisition of Alpargatas Argentina, turning the consolidated company into a bi-national corporation leader in its sector in Mercosur and Latinamerica.
Thursday, October 23rd 2008 - 20:00 UTC
The dark side of Brazil's “brotherly” policy in the region

Brazil has sent a strong message to those (restless) neighbours that could “threaten the country”, according to reports in the Sao Paulo press.
Thursday, October 23rd 2008 - 20:00 UTC
A 50 billion USD package to support Brazilian currency

Brazil's central bank said Wednesday it would pump the equivalent of 50 billion US dollars into currency markets to stem a two-month tumble in the Real that is threatening companies and stoked inflation.
Wednesday, October 22nd 2008 - 20:00 UTC
Brazil Real down 33% in spite of billions USD in support

Brazil was forced to appeal to 22.9 billion US dollars in the past month, including sales of foreign reserves, derivatives and loans to prop the weakened Real punished by investors fleeing from emerging markets to more secure assets.
Sunday, October 19th 2008 - 20:00 UTC
Petrobras September oil-gas production sets new record

Brazil's government managed oil and gas corporation Petrobras set a new production record in September with 1.897.563 barrels/day, surpassing the volume extracted in the previous month by 12.400 barrels, or 1%. Compared to a year ago, the increase was 7.26%.
Friday, October 17th 2008 - 20:00 UTC
Brazil eases foreign currency credit to exporters

Brazil's central bank will offer credit lines in foreign currencies as of next week in a bid to ease a credit crunch afflicting the country's exporters, the bank's president, Henrique Meirelles announced on Friday.
Thursday, October 16th 2008 - 20:00 UTC
Brazil fears “unfair” recession caused by financial casino

The leaders of India, Brazil and South Africa criticized rich countries for failing to act quickly to prevent the global financial meltdown. At a summit in New Delhi, they urged Western nations to manage the crisis in a manner that will not hurt their developing economies.
Thursday, October 16th 2008 - 20:00 UTC
Brazil Bovespa looses 11.04% and is again below 40.000 points

Brazilian shares plummeted more than 10% on Wednesday, triggering a trading halt, as mounting fears of global recession battered markets worldwide.
Monday, October 13th 2008 - 20:00 UTC
Lula da Silva hails Brazil's solid financial position

The days when emerging economies were depended on the International Monetary Fund, IMF “are over” and so are over the days when Latinamerica had no voice in international affairs, said Brazilian president Lula da Silva in Spain.