Brazil

Thursday, September 11th 2008 - 21:00 UTC
Brazil raises basic rate to 13.75%, highest in two years

The Brazilian Monetary Policy Committee (Copom) of the Central Bank (BC) raised the base interest rate (Selic) by 0.75 percentage point, from 13% to 13.75% a year. This is the fourth consecutive hike in Selic and the highest is almost two years.
Thursday, September 11th 2008 - 21:00 UTC
Petrobras confirms pre-salt oil reservoir of light oil and gas

Petrobras announced this week that the completion of the Iara well drilling (which first found oil in August 2007) confirmed the discovery of light oil in the Santos basin pre-salt reservoir with a recoverable volume estimated in 3 to 4 billion barrels of light oil and natural gas.
Wednesday, September 10th 2008 - 21:00 UTC
Brazilian economy expanded 6% in the first half of 2008

Brazil's economy expanded 6.1% in the second quarter of 2008 compared to the same period a year ago and 1.6% over the previous quarter, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE. Similarly in the first half of this year Brazil's GDP increased 6% compared to the same period a year ago.
Wednesday, September 10th 2008 - 21:00 UTC
World's largest iron ore miner hikes price 11% to Asian clients

Brazil's Companhia Vale do Rio Doce, the world's largest iron ore miner, said it is negotiating price increases with its clients in Asia to put them at the same rate as European customers.
Tuesday, September 9th 2008 - 21:00 UTC
Brazil market slumps and Real declination period forecasted

Brazil's Bovespa index fell 4.5% on Tuesday and the lowest level in a year as prices for top commodity exports slumped and Finance minister Guido Mantega predicted the currency will extend its steepest monthly decline since 2002.
Monday, September 8th 2008 - 21:00 UTC
Lula says next Brazilian president could be a woman

Brazilian president Lula da Silva said he would be choosing his successor in 2010 and anticipated there are great chances that the next president could be a woman, although he did not advance names.
Saturday, September 6th 2008 - 21:00 UTC
Brazil's inflation easing but Central Bank not convinced

Brazil's consumer prices index in August increased at its slowest pace in 11 months, 0.28% following on a significant drop in food prices according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.
Friday, September 5th 2008 - 21:00 UTC
Football controversy between Lula da Silva and the national team

Brazilian coach Dunga and some Brazil players were not happy to hear President Lula da Silva praise Argentine star Lionel Messi and complain about the national team. They called for support and one of them suggested the president should become an Argentine citizen.
Thursday, September 4th 2008 - 21:00 UTC
Brazil begins test extraction of oil 4.500 mts. below seabed

President Lula da Silva inaugurated this week Brazil's first extraction of oil from deep waters which highlighted techniques to be applied to vast oil fields found even farther offshore and at greater depths.
Thursday, September 4th 2008 - 21:00 UTC
“Brazil does not envisage joining OPEC, right now”

Brazil has turned down a “formal invitation” by Iran to join the Organization of Petroleum Exporting Countries (OPEC) it was reported by the official Iranian news agency.