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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 »

Brazilian NCAA increase airport taxes 14.21%  on national, international flights

BRASILIA:  The domestic and international flights at government run airports in Brazil will be hit with a tax increase of 14.21% on average. The National Civil Aviation Agency’s administration company Infraero runs 60 airports (half of the country’s total), including ones in Rio de Janeiro and other major hubs, that covered 101.7 million passengers between January and November 2014. However, ... Read More »

Brazil posts 2014 primary budget deficit rise $13.76 billion

BRASILIA: Brazil fell way short of its main fiscal target in 2014, underscoring the daunting uphill battle that President Dilma Rousseff’s new economic team faces to shore up public accounts and prevent a credit rating downgrade. Brazil posted a public sector primary budget deficit of 32.536 billion rais ($13.76 billion) for last year, equal to 0.63 percent of gross domestic ... Read More »

Brazil customs seizes one million fake Peppa Pig toys

BRASALIA:  An estimated one million counterfeit Peppa Pig toys have been seized by custom officers across Brazil. Entertainment One Licensing the owner of the Peppa Pig brand has been working closely with authorities and a Brazilian law firm specialising in IP infringement to crack down on the fakes. By providing relevant Peppa Pig artwork and branding, Brazilian customs were able ... Read More »

Brazilian miner Vale’s mega ships able to dock at 5 Chinese ports

BRAZILIAN: Brazilian miner Vale’s mega ships have been able to dock at five ports in China, the firm’s head of investor relations said, as a ban that had been in place is relaxed. “The issue of the obstruction, that’s overcome,” investor relations chief Rogerio Nogueira, said at a conference in Rio de Janeiro. “We are in the process of working ... Read More »

Brazil tax collection fall 1.79% as $460 billion, lowest since 2009

BRASILIA:  Tax revenue gained by government through taxation fell to 1.79% last year and totals US$460 billion according to Brazil’s Secretariat of the Federal Revenue. With inflation correction, this figure was of US$472 billion. It is the first time that the government registers a fall in its revenue since 2009, the peak of the financial crisis, when there was an ... Read More »

Brazil customs seizes one million fake Peppa Pig toys

BRASALIA:  An estimated one million counterfeit Peppa Pig toys have been seized by custom officers across Brazil. Entertainment One Licensing the owner of the Peppa Pig brand has been working closely with authorities and a Brazilian law firm specialising in IP infringement to crack down on the fakes. By providing relevant Peppa Pig artwork and branding, Brazilian customs were able ... Read More »

Brazil loan market registers 11.3% growth to touch $1.1 trillion in 2014

BRASILIA: Brazil’s loan market registered transactions totaling $1.1 trillion last year, up 11.3 percent from 2013 and the slowest growth rate since 2007, the Central Bank said Tuesday. Lending was expected to grow 12 percent in 2014, compared to the previous year, monetary officials said. Loan volumes expanded by 2 percent in December, compared to November. Lending transactions were the ... 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 »

UAE becomes biggest importer of Brazilian eggs, Rise 65% to reach 8710 tons in 2014

BRASILIA: In 2014 Brazil sold 8,710 tonnes of eggs to the Emirates, an increase of 65% over 2013. Sales’ revenues reached US$ 10.8 million and topped in 56% revenues with egg shipment in 2013. In addition, Saudi Arabia also noted an increased purchase of Brazilian eggs last year. A total of 404 tonnes were shipped to the country, a 198% ... Read More »

30.7% hike: Brazil becomes favourite country with 64,904 Int’l flights in 4 years

BRASILIA: Brazil last year was the destination for 64,904 international flights, a 30.7 percent increase over the 49,557 that went to the South American giant in 2010, the country’s public tourism promotion company, Embratur, announced Tuesday. The country sending the largest number of flights to Brazil in 2014 was the United States, whose citizens last year had 14,573 air travel ... Read More »

Brazil’s Central Bank reduces GDP growth forecast for 2015 to 0.13%

BRASILIA: In less than a month of the New Year, the financial market follows with a daunting position relative to the growth of the country in 2015, which will be stable again. To the Gross Domestic Product (GDP) this year, according to the Focus Market Report released, 26, the estimate is expansion of 0.13% compared to rate of 0.38% pointed ... Read More »

Dilma rejects correction of 6.5% in IR table, plans to edit MP with adjustment of 4.5%

BRASILIA: Dilma Vana Rousseff, President rejected the correction of 6.5 per cent over the table of Income Tax for individuals in the calendar year 2015, but the minister of Institutional Relations, Pepe Vargas, said new interim measure less correction of the IR table will be sent to Congress in the coming days. He said the government will make a 4.5 percent ... Read More »

Cocaine worth £50,000 hidden in hair extensions confiscated

BRAZIL: A mother attempted to smuggle cocaine worth 50 000 pounds in hair extensions i.e. by hiding it in her wig. The women who is said to be a Portuguese had nine packets containing a whopping 880 grams of the class A drug interwoven with her hair. She was stopped by members of the National Police shortly after she arrived ... Read More »

Brazil seeks to improve trade ties with US, EU in next 4 years

SÃO PAULO: During the next four years Brazil will work toward strengthening its commercial ties with the United States, expanding its accords with Mercosur partners as well as finalizing trade agreements with Central and South American countries such as Mexico, Peru, Colombia and Chile, stated the new Development, Industry and Foreign Trade (MDIC) Minister, Armando Monteiro Neto, during his first ... Read More »

Brazil increases taxes on fuels, imports for R$20.6 billion revenue

SÃO PAULO: The Brazilian government’s new economic team announced the first measures which they hope will reduce the country’s primary deficit and put the economy back into the path of sustainable growth. Finance Minister, Joaquim Levy, announced here the other day, the government will increase taxes on fuels, imports and financial operations, with the goal of obtaining an extra R$20.6 ... Read More »

13,472,255 cubic meters: Brazil LNG imports hike 28% in 2014

SAO PAULO: Imports of liquefied natural gas to Brazil rose 28% during 2014, totaling 13,472,255 cubic meters, up from 10,514,012 cu m during the year prior, data from Platts unit Bentek Energy showed here the other day. Rising LNG imports to Brazil come as the tropical nation faces its worst drought in recorded history, according to Sabesp, the agency for ... Read More »

Brazil posts first trade deficit of $3.93 billion in 14 years

SÃO PAULO: Brazil registered its first annual trade deficit since 2000 as economic growth slowed and prices fell for iron ore, soybeans and other key commodities exports, government data showed here the other day. Brazil ended the year with a trade deficit of $3.93 billion, compared with a surplus of $2.5 billion in 2013. It was the country’s first annual ... Read More »

Brazil seeks 7.7 billion US $ from tax hikes to achieve debt reduction goals

BRASILIA: Brazil announced tax increases on fuel, imports and consumer loans aimed at raising 20.6 billion Reals (5 billion pounds) in additional revenues this year, although some economists have warned the measures may boost inflation. The plan is part of an effort to help balance budget accounts and revive investor confidence. Finance Minister Joaquim Levy said at a news conference ... Read More »

BRICs membership of Brazil, Russia in doldrums: expert

BRASILIA: BRICs membership of Brazil and Russia has faced danger and membership may expire by the end of this decade if they fail to revive their sagging economies, according to Jim O’Neill, the former Goldman Sachs Group Inc. chief economist here the other day. Asked if he would still group Brazil, Russia, India and China together as emerging market powerhouses ... Read More »