Brazilian Government managed energy corporation Petrobras was the second most-profitable company in the US and Latin America in 2009, even ahead of corporations such as Microsoft according to a study released Monday.
With colorful and scandalous flourishes, in a nation where the bizarre is often normal, Brazil’s Carnaval kicked off throughout the country on February 12th. The celebration is especially exotic in Rio de Janeiro, Brazil’s second largest city, where the samba dancers’ elaborate talents draw millions of tourists each year.
Argentine industrial output grew by 11% in February compared to a year ago and 3.4% over January, powered by car and steel plants feeding demand from neighbouring Brazil, which is recovering faster than expected from the global crisis.
United States Labour Department reported that the consumer price index was flat in February, though prices were 2.1% higher than a year ago. Core inflation - which strips away food and energy costs - saw a 0.1% rise.
Marking a break from established policy, the Chilean government is considering the opposition’s proposal to increase the mining royalty tax. Government ministers are currently studying the implications of a tax increase, the money from which would be used to aid in earthquake reconstruction.
Petrol prices could reach an eye-watering 120 pennies per litre later this year, the AA is warning. The organisation is claiming that unleaded fuel could even top the price, equivalent to £5.41 a gallon, and Alistair Darling is being urged to delay the introduction of a planned 3p increase in petrol duty due to come in on April 1.
Argentina moved a step closer to a planned swap of defaulted debt and an issue of up to 15 billion US dollars in new bonds, with an amended filing to the US Securities and Exchange Commission, SEC
News that Greece may go cap in hand to the IMF for help with its debt crisis prompted investors to rush for the relative safety of the dollar, which soared against the Euro on Thursday. The Euro fetched 1.3603 dollars down more than a US cent on late trading.
The Brazilian central bank kept its benchmark Selic interest rate at a record low 8.75% in a less-than-unanimous decision, signaling that borrowing costs may rise as soon as next month.
The Chilean government has updated the death toll from the Feb. 27 earthquake, saying 700 people lost their lives during or following the quake. Interior Minister Rodrigo Hinzpeter said just over 500 are confirmed dead, with another 200 missing.