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Russia seeks to invest in oil, gas in Brazil

BRASILIA: Russia’s Gazprom is considering investments in oil and natural gas in Brazil and may bid for exploration rights in the country’s 13th-Round concession auction in October, Shakarbek Osmonov, director for Brazil and Latin America, told Reuters. Gazprom, the world’s largest natural gas producer, is also considering offers for stakes in fields and exploration areas being put up for sale ... Read More »

Brazil’s May iron ore exports shrink

BRASILIA: According to latest trade data published by the Ministry of Development, Industry and Foreign Trade (MDIC) of Brazil, the country’s iron ore shipments dropped marginally during the month of May this year. The country’s exports of iron ore during May ’15 totaled 23.65 million mt, 0.76% lower when compared with the exports during Apr ‘15. Brazil had exported 23.83 ... Read More »

Brazil: Mercousur must allow member countries to sign trade agreement

BRASILIA: A top Brazilian minister said that Mercosur must allow member countries to sign trade agreements with third parties and called for the end to the rule which prevents such initiative. Development, Industry and Trade minister Armando Monteiro Neto made the statement during a competitiveness seminar in Rio do Janeiro a couple of days ahead of a crucial meeting in ... Read More »

Argentine pear sales fall by 30% as Brazil bans pome imports

BUENOS AIRES: Upon detecting the codling moth in a shipment of fruit from Argentina, Brazil limited the entry of pears and apples from this country, a measure that has caused Argentine pear sales to the Brazilian market to fall by 30%. BUENOS AIRES: Upon detecting the codling moth in a shipment of fruit from Argentina, Brazil limited the entry of ... Read More »

Brazilian officials attend customs seminar for Rio 2016 preparations

BRASILIA: Brazilian officials have attended a customs seminar regarding major international sporting events to aid preparations ahead of hosting the Rio 2016 Olympic and Paralympic Games. The three-day seminar was designed to help equip officials to receive approximately 10,500 athletes and supporting officials including technicians, assistants, physical trainers, psychologists, physiotherapists and doctors. The seminar included several guests who have helped ... Read More »

China to extend its Silk Road program to Latin America

BRASILIA: Chinese construction companies are expected soon to begin surveys and feasibility studies on a 5,300-km-long trans-oceanic railway project that will connect Brazil with Peru. The move, which was made possible during recent meetings between Brazilian leaders and visiting Chinese Premier Li Keqiang in May, is the latest example of China’s efforts to extend its Silk Road program to Latin ... Read More »

Brazil raises interest rates from 13.25% to 13.75%

SÃO PAULO: Brazilian Central Bank’s Comitê de Política Monetária – Copom (Monetary Policy Committee) decided unanimously (June 3rd) to increase the country’s benchmark interest rate (Selic) by 0.5 percentage points from 13.25 percent to 13.75 percent per year. This is the sixth consecutive time the Selic has increased. “Assessing the macroeconomic scenario and the perspectives for inflation, the Copom decided, ... Read More »

Brazil’s economy remains weak as industrial production declines

BRASILIA: Brazil’s economy remains weak as industrial production declines, weighing on its currency. Brazil’s currency is represented by WisdomTree Brazilian Real (NYSEARCA:BZF). In April, the industrial production figure came in at an annual pace of -7.6% contraction, below the previous month’s revised reading of -3.4%, while bettering estimates for -7.85%. Since peaking at over 20% in 2010, industrial production has ... Read More »

Cineses investments vital to boost Brazil’s economy: experts

RIO DE JANEIRO – Chinese Premier Li Keqiang’s recent visit to Brazil will lead to huge investments vital to boosting the South American country’s economy, local experts said. Li’s visit is “very important” to Brazil, during which bilateral agreements were signed to benefit the latter in fields ranging from aviation, automobiles, manufacturing, electricity to mining and food processing, Paulo Wrobel, ... Read More »

Brazil likely to consider stake sale in $1.3b Reinsurer IPO

BRASILIA: Brazil’s government is considering the sale of some of its stake in IRB-Brasil Resseguros SA, the largest reinsurer in Latin America, in a 4 billion-real ($1.3 billion) initial public offering, two people with direct knowledge of the matter said. In addition to the government, which owns 27 percent of IRB, insurer BB Seguridade Participacoes SA and units of Itau ... Read More »

Brazil’s iron ore exports rises in Mar 2015

BRASILIA: According to latest trade data published by the Secretariat of Foreign Trade (SECEX) of Brazil, the country’s iron ore exports surged higher during the month of March this year. China remained the top export destination, accounting for 48% of the total iron-ore exports by Brazil during the month. The country’s exports of iron ore during Mar ’15 totaled 30.783 ... Read More »

Brazil aims to raise utility sale up to $1.6b

BRASILIA: Brazil’s government expects the sale this year of the Goias state distributor Celg to raise as much as 5 billion reais ($1.6 billion), according to an official on President Dilma Rousseff’s economic team with direct knowledge of the discussions. The Treasury would get 1.5 billion reais to 2 billion reais from the sale of Celg Distribuicao SA, with the ... Read More »

Brazil, China, Peru transcontinental railway will boost trade

BRASILIA: Brazil is encouraging Peruvians to focus on the growth that will be spurred by a 5,300-kilometre railway from the Atlantic to the Pacific. The construction of the proposed “Tren Bioceánico” is being pushed by the Brazilian and Peruvian government, with strong support from China, which sees it as a long-term investment in access to South American resources. “Trade between ... Read More »

Brazil posts $2.76 billion trade surplus in May

SAO PAULO: Brazil posted a $2.76 billion trade surplus in May, the best performance for the period in three years, the Development, Industry and Foreign Trade Ministry said. The May number was substantially higher than the figure in April, when the South American country posted a trade surplus of $491 million, and was up 288.3 percent from the May 2014 ... Read More »

Interest rates in Brazil likely to increase again to 13.75%

BRASILIA: Brazil’s benchmark interest rate (Selic) is expected to increase again this week, as Central Bank officials sit down for their scheduled Copom (Monetary Policy Committee) meeting Tuesday and Wednesday, June 2nd and 3rd. According to surveys conducted by the Central Bank, financial analysts forecast an increase by five percentage points on the Selic, with the rate going to 13.75 ... Read More »

Brazil Resources,  Areva receive authorization from Alberta govt to explore Rea project

VANCOUVER: Brazil Resources Inc. (the “Company” or “Brazil Resources”) (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce the Company has received authorization from the Alberta Department of Environment and Sustainable Resource Development for a proposed drill program on the Rea uranium project (“Project”) in northeast Alberta. The Project is located in the western portion of the Athabasca Basin, which the ... Read More »

Brookfield to raise $300m for Brazil farmland fund

BRASILIA: Brookfield Asset Management Inc., Canada’s largest alternative asset manager, has raised $300 million for a new agricultural fund targeting Brazilian farmland, a person with knowledge of the matter said. The Toronto-based firm is targeting $500 million in total for the fund, with a maximum of $700 million, the person said, asking not to be identified discussing private information. Brookfield ... Read More »

Brazilian trade mission to visit China in June to promote beef exports

BRASILIA: A Brazilian trade mission will visit China in June to promote beef exports, an official said. The mission, including representatives from Brazil’s main producer organizations, is being coordinated by the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) and will visit Shanghai and Beijing on June 9-12. In a recent interview with Xinhua, Ana Paula Repezza, manager of Apex-Brasil’s International ... Read More »

Mexico, Brazil sign agreements to expand bilateral trade

MEXICO CITY: The leaders of Mexico and Brazil agreed to expand a trade accord they hope will double business between the two biggest Latin American economies over the next 10 years.   Mexican President Enrique Peña Nieto and Brazilian President Dilma Rousseff met in Mexico City and signed agreements to promote trade and investment.   Mr. Peña Nieto said the ... Read More »

China to invest $50b to help overhaul infrastructure in Brazil

BRASÍLIA: China will invest 50 billion dollars to help overhaul Brazil’s aging infrastructure, the government announced on Thursday, ahead of an official visit by Chinese Prime Minister Li Keqiang next week. Brazil has repeated that it was determined to overhaul its dilapidated roads, railways, airports and ports. “There are 50 billion in new projects,” said Jose Graca Lima, Brazil’s Undersecretary ... Read More »