Sunday , August 9 2020
Breaking News
Home / International Customs / Brazil (page 58)


Spain police seize concaine worth £50,000, nab Brazilian woman for smuggling

MADRID: A young Brazilian mum has been arrested amid claims she tried to smuggle a £50,000 cocaine haul into Spain by hiding it among her hair extensions and wig here the other day. Police said the Brazilian woman had nine packets containing a whopping 880 grams of the Class A drug interwoven with her own hair and a wig. She ... Read More »

Brazil to improve ports to transport record grain harvest in 2014-15

SAO PAULO: Brazil’s government announced measures to assist the transport of what is expected to be a record grain harvest in the country in the 2014-2015 season, including incentives for ports located in the Northern part of the country and improvements in roads so that production does not have to go to Southern ports such as Santos or Paranaguá to ... Read More »

Shipments stuck at Brazil’s Sudeste port on navy permit delays

SAO PAULO: The start of operations of Brazil’s Sudeste port in Rio de Janeiro state, which is planned to play an important role in minerals and metals exports, has once again been delayed, this time because port operators are waiting for a navy permit, port operators said here the other day. No date has been publicly set for the start ... Read More »

Economic outlook revising down to 1.5%: Brazil ports to post steady growth in 2015

BRASILIA: Brazil will remain mired in a period of low growth in the coming years, due to a slowing consumer story, persistent business environment challenges, and a weaker external environment. We predict steady growth in Brazil’s shipping sector over our forecast period, although we will not see a return to the double digit growth seen in 2010 and 2011. Our ... Read More »

Brazilian Development Bank approves loan of $100 million for Northeast Bank

BRASILIA: The Brazilian Development Bank (BNDES) approved financing of $100 million to Northeast Bank the funds are for the micro credit operations for individual and corporate entrepreneurs, small productive activities. The funding, granted within the BNDES Microcredit is intended to carry out 1.5 million operations until the end of 2015, with an average of £ 1200. The Bank will contribute in ... Read More »

Joaquim Levy nods changes in pricing policy of Petrobras

BRASILIA: Joaquim Levy, the new finance minister, waved with changes in Petrobras’ pricing policy, Petrobras will make their pricing decisions as a company Levy said. Levy said of course Petrobras is a dominant company and has to take there their proper care. I have no evidence to assess as it was before, but my sensitivity indicates that it will increasingly ... Read More »

Brazil to increase tax collection if spending cuts fail to slow inflation

BRASILIA: Brazil’s government may have to increase tax collection if spending cuts fail to slow inflation and boost growth, Finance Minister Joaquim Levy said. We will probably need to think about re-balancing some taxes, because some of them were reduced a while ago,” Levy wrote in a question and answer session on Facebook on Friday. “That revenue is now needed.” ... Read More »

Bharat petroleum, Videocon firms plan to start producing oil in Brazil in 2018

BRASILIA: Bharat petroleum,Videocon firms plan to start producing oil in Brazil in 2018. Bharat Petroleum Corporation and Videocon Industries with Brazilian partner Petroleo Brasileiro have found more light crude oil in the Sergipe Basin off that country’s northeast coast, the companies said in a securities filing. The discovery in the BM-SEAL-11 exploration block is believed to hold at least a ... Read More »

Inflation rate in Brazil hits 6.4% in 2014

BRASILIA: Inflation in Brazil hit 6.41 percent in 2014, marginally below a government ceiling of 6.5 percent but still the highest annual figure since 2011, the National Statistical Institute. The official annual target is 4.5 percent, with a tolerance margin of two percent beyond that, but the central target has been missed several times in recent years. The 2013 annual ... Read More »

Falling oil prices plunge puts Brazil’s sugar, ethanol industries at risk

BRASILIA: Fall in oil prices has heightened the risk for Brazil’s sugar and ethanol industry, according to Fitch Ratings. The price drop has eased the pressure on Petroleo Brasileiro S.A – Petrobras (IDR BBB / Nat. Scale AAA(bra)) to increase domestic gasoline prices, which reduces demand for alternative fuels. Brazilian S&E producers need hikes in ethanol prices to make up ... Read More »

Brazil approves cuts in new budget with $700m monthly administrative expenses

BRASILIA:The Brazilian government approve cuts to new budget plan of cuts to save more than US$700 million monthly administrative expenses with the aim of further austerity to face the setback in the national economy. The measures was published in the Official Gazette and Budget Execution Act and specifically affects expenditure on salaries, travel, pensions and benefits of the Executive. The ... Read More »

Brazilian Revenue services Impacting Charters Agreements

BRASILIA:  Brazil’s oil and gas industry and the Brazilian Revenue Service are embroiled in a significant tax dispute regarding the contractual model adopted by the industry and the taxation over outbound payments related to charter agreements. The first component of this dispute refers to the zero percent tax rate of the withholding income tax (IRRF) on outbound payments related to ... Read More »

Brazil exports drop 10.5% in 2014 as commodities dip 16.2%

BRASILIA: Exports fell 10.5% in 2014 as commodities led by metals dropped 16.2%, said ADEX president Gastón Pacheco. Peru, the world’s third largest copper, zinc and tin exporter, saw export earnings slump for a third year in 2014, due to declines in commodities prices and shipments. 2014 was a bad year for Peruvian exports,” Pacheco said in a statement posted ... Read More »

Nissan maintains investment in Brazil despite sales fall by 7.15pc

RIO DE JANEIRO: Japan’s Nissan Motor Company Ltd remained its confidence on Brazil auto market and plans to maintain investment and increase its share in the Brazilian auto market despite a 7.15 percent drop in car sales across the country last year, the firm’s chief executive said here the other day. “We are disappointed in where the Brazilian market stands ... Read More »

Brazil oil price plunges to $52 per barrel

BRASILIA: Brazil oil price plunged to $52 per barrel as Moody’s warns that oil companies will have to make deep cutbacks to spending. Brent crude has slumped to a new five-and-a-half-year low as leading ratings agency Moody’s warns that oil companies could be forced to slash spending by up to 40pc this year. The benchmark crude contract fell to as ... Read More »

Brazil’s finance minister to support budget cuts to improve investors’ confidence

BRASILIA: Brazil’s government must make difficult budget cuts to improve investor confidence and restore economic growth, new Finance Minister Joaquim Levy said. At his swearing-in ceremony in Brasilia, former treasury chief Levy said the fiscal adjustments would require the participation of society as a whole and would involve spending cuts and possible tax hikes. “Fiscal balance is indispensable in order ... Read More »

Brazil hopes summer may give boost to foreign tourism

RIO DE JANEIRO: As the official summer season starts in Rio de Janeiro, a stronger dollar and afterglow of successfully hosting the 2014 World Cup may mean an increase in foreign tourism this year which helped to boost Brazil economy. Hotel occupancy rates are already up and the tourism sector is optimistic, hoping for a boost to the slowing economy. ... Read More »

Brazil levies anti-dumping against China, Mexico, Saudi Arabia, Egypt, UAE, US

BRASILIA:  An economic downturn has the Brazilian government turning to anti-dumping measures against China and other countries, according to analysts. A month ago the Brazilian Foreign Trade Chamber made antidumping charges levied on float glass imports from China and five other countries permanent. The duties were also placed on imports from the, Saudi Arabia, Egypt, the United Arab Emirates and ... Read More »

New year gift: Brazil’s city govt hikes bus, taxi fares

RIO DE JANEIRO: Even though the last increase in bus fares had triggered mass protests around the Brazil and had to be postponed from June 2013 to February 2014, Rio’s city government decided to go for another heavy increase in transportation prices for the new year. Municipal bus rides will cost R$3.40 as of Tuesday, January 6th, an increase which ... Read More »

Brazilian man charged for attempting to import 3kg cocaine into Sydney on New Year’s eve

BRASILIA: A Brazilian national has been charged with attempting to import 3kg of cocaine through Sydney Airport on New Year’s Day.Robson Luiz Carsten, 41, appeared before Parramatta Local Court yesterday after Customs officers selected him for a baggage exam when he arrived on a flight from Brazil via the United Arab Emirates. It is alleged that during an X-ray of ... Read More »