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Brazil flats maker ‘Usiminas’ exports jump 128,000mt  to 249,000mt in 2014

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Brazil unwinding tax breaks to stop debt: Finance Minister

BRASILIA:  Brazil’s government is unwinding tax breaks as it strives to boost confidence and stop gross debt from expanding, Finance Minister Joaquim Levy said. “A rolling back of some of these tax breaks is kind of overdue,” he said in a presentation to investors in New York. It’s what we’re working to achieve in the next 10 months. That’s the ... Read More »

Brazilian arrested with 2kg cocaine at Brisbane Airport

BRASILIA:  Brisbane customs officers have stopped a Brazilian man allegedly caught smuggling about two kilograms of cocaine into the country. He’s the third Brazilian charged with importing large quantities of the drug in two weeks. Australian Customs and Border Protection Service officers allegedly found the illegal drug when they stopped the 27-year-old at Brisbane International Airport. The alleged seizure came ... Read More »

Brazilian exports to UAE rise 7231% to reach $13.4billion in 2014

Abu Dhabi: Exports from Brazil to Arab countries grew in 2014 to reach $13.4 billion, with aircraft and spacecraft emerging as the highlight of imported products to the region with a 7,231 per cent jump from $3 million in 2013 to $227 million last year. The figures were released by the Arab-Brazilian Chamber of Commerce. The UAE registered a surge ... Read More »

Brazil returns Bulgarian sentenced jail for 10 year in 2kg cocaine smuggling case

SOFIA: Bulgarian Atanas Mitev Atanasov, 44, was sentenced to 10 years in prison on Wednesday by the Larnaca Assize Court after he was found guilty to charges of possession of two kilos of cocaine. Atanasov was arrested on November 23, 2014, when he arrived at the Larnaca airport from Sao Paolo, Brazil, via Dubai. Following a search of his luggage ... Read More »

Brazilian MDIC announces to search new global market to boost exports

BRASILIA:  Brazilian Ministry of Development, Industry and Foreign Trade (MDIC) announced plans to increase the country’s exports, including finding new markets for Brazilian products around the globe. “This is not only the government’s plan,” MDIC Minister Armando Monteiro Neto, was quoted by Agencia Brasil as saying. The MDIC official noted the national export plan is being prepared with the help ... Read More »

$1.2b trade deficit: Brazil seeks to renew auto quota pact with Mexico

MEXICO CITY: Grappling with fragile economic growth, Brazil wants to renew an auto quota pact with Mexico that is set to expire in March, reported Reuters. A treaty between the two nations and auto manufacturers, which sets quotas on how many light vehicles Mexico and Brazil can sell each other, expires in March. Auto trade between the two was then ... Read More »

Brazil’s oil regulator ANP orders Petrobras to avoid any structural changes

RIO DE JANEIRO: Brazil’s oil regulator ANP ordered state-run Petrobras to seal off most access to its damaged offshore oil and natural gas platform so that authorities can conduct a complete investigation, the agency said in a statement. The order prohibits Petroleo Brasileiro SA, as Petrobras is formally known, from making any repairs or structural changes to the damaged areas ... Read More »

Low profits at Brazilian foreign banks likely to hold back expansion plans: Fitch Ratings

RIO DE JANEIRO: Reduced profits from capital market-related activities at the Brazilian subsidiaries of foreign banks are likely to force some banks to hold back any strategic plans for expansion in the country, says Fitch Ratings. Profit reductions reported in 2014 results are reflecting Brazil’s challenging macro environment, which has pared back trading, capital markets issuance, M&A advisory and business ... Read More »

Brazil’s coffee exports rise 6.8% in volume, 53.5% in value in January 2015

BRASILIA: Brazil’s coffee exports witnessed 6.8 percent rise in volume and 53.5 percent in value as compared to the same month in 2014, the Brazilian Coffee Exporters Council, or CeCafe, said. World coffee prices increased almost 60 percent, on average, between January 2014 and January 2015. Last month, Brazil exported coffee worth $590 million, the highest price in a month ... Read More »

China data, economic concerns push Brazilian real to weakest level since 2004

SAO PAULO: Disappointing economic data from China and concerns over health of Latin America’s largest economy pushed Brazilian real to its weakest level since late 2004. Other currencies in the region also weakened, while the MSCI Latin American stock index erased the previous session’s gains. The real was trading near the 2.82 per dollar level in the early afternoon after ... Read More »

Analysts revise 2015 GDP estimates of Brazil downward from 0.03% to zero

BRASÍLIA: Brazil’s economy would stall in 2015 with inflation coming in nearly 1 percent above the high end of the government’s range, the Central Bank said. Analysts revised their 2015 gross domestic product (GDP) estimates downward from 0.03 percent to zero in the latest survey released by the Central Bank. The GDP estimate was included in the Boletin Focus, a ... Read More »

UAE exports to Brazil reach $11.22 billion in 2014: ABCC

BRASILIA:  Arab exports to Brazil recorded a substantial increase in 2014 to reach $11.42 billion, according to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC). The key products exported from the region to Brazil comprised plastic, aluminium, organic chemicals, mineral fuel and oil, and fertilisers, it said. The imported products came primarily from Saudi Arabia, Algeria, Morocco, Kuwait and ... Read More »

Exports from Arab World to Brazil reach USD11,427 billion in 2014

ABUJA: Brazil continues to cement its bilateral trade relations with Arab countries as reflected in a surge in exports from the region. According to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC), collective exports from the Arab World to Brazil recorded a substantial increase in 2014 to reach a total of USD 11,427 billion. The key products imported from ... Read More »

Brazil plans to expand agricultural export to China

BRASILIA: Brazil plans to expand exports to China, as Chinese market is vital to the growth of its agricultural sector, the minister said. Katia Abreu, the new agriculture minister stressed at a recent press conference the importance of channeling Chinese investment to Brazil’s agricultural sector. Abreu, who is also president of the National Confederation of Agriculture, said Brazil and China ... Read More »

Brazil iron ore export fall 5.6% as 23.3 million in January 2015: MDIC

SAO PAULO: According to latest trade data published by Brazil’s Ministry of Industry, Development and Foreign Trade (MDIC), the country’s iron ore exports dropped sharply during the first month of the New Year. The average export price witnessed huge cuts during the month. The country’s exports of iron ore during Jan ’15 totaled 23.3 million mt, 5.6% down when compared ... Read More »

 Brazil trade deficit fall $3.174 billion from $4.068 billion in January

BRASILIA:  Brazil posted a wider than expected trade deficit in January even after imports and exports tumbled, government data showed. The trade deficit of $3.174 billion was smaller than the $4.068 billion shortfall of a year earlier. The median forecast of 17 analysts surveyed by Reuters was for a deficit of $3 billion. Brazil posted a surplus of $293 million ... Read More »

Brazil wants to expand agricultural exports to China: agriculture minister

BRASILIA:  Brazil plans to expand exports to China, as the Chinese market is vital to the growth of its agricultural sector, a minister said. Katia Abreu, the new agriculture minister stressed at a recent press conference the importance of channeling Chinese investment to Brazil’s agricultural sector. Abreu, who is also president of the National Confederation of Agriculture, said Brazil and ... Read More »

Brazil wants to expand agricultural export to China: Agriculture minister

BRASILIA:  Brazil plans to expand exports to China, as Chinese market is vital to the growth of its agricultural sector, a minister said. Katia Abreu, the new agriculture minister stressed at a recent press conference the importance of channeling Chinese investment to Brazil’s agricultural sector. Abreu, who is also president of the National Confederation of Agriculture, said Brazil and China ... Read More »

Brazilian iron ore export to china rise 10.3% to 170.96 million in 2014: China Customs

BEIJING:  Chinese imports of iron ore from Brazil, the second largest supplier to the country, increased 10.3 percent in 2014 to 170.96 million tons, according to figures from China’s customs services. From Australia, its main supplier, China imported 548.4 million tons of iron ore, an annual increase of 31.6 percent. Overall, China imported 932 million tons of iron ore, an ... Read More »