The Brazil government has announced that it expects 5.5 percent growth in the Brazil economy for the next 4 years according to Bloomberg.
As announced in the Brazil Budget Ministry proposed budget rules for 2011, the growth projections for the Brazil economy will allow the Brazil government to continue to increase infrastructure projects as part of its goal to modernize.
The Brazil Budget Ministry document went on to state that its Brazil economy growth targets were contingent on Brazil’s interest rate staying at 8.75 percent through 2013.
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Retail sales in the Brazil economy rose 12.3 percent in February beating expectations according to Bloomberg.
Speculators predict the spike in Brazil retail sales is likely to prompt the Brazil government and the Brazil central bank to raise Brazil interest rates by 75 basis points in order to combat Brazil inflation.
Further support of the rise in Brazil interest rates come from the fact in the last meeting, three central bankers voted for a 50 basis point increase after the benchmark Brazil interest rate was kept unchanged for five straight months.
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US based Ford Motor Company announced it will invest in Brazil $200 million according to AP.
Brazil investment is expected to go towards to development of a small SUV targeted for the global market.
The Ford announcement will put the firm’s investment in Brazil at a total of $2.4 billion over the next five years. [Read more →]
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Car sales in the Brazil economy rose 60 percent in March according to the Brazilian Motor Vehicle Manufacturers Association (Anfavea) as reported by Dow Jones.
Key drivers to the increase in demand include continued growth in the Brazil economy and Brazil government tax breaks which in essence reduced car prices by as much as 7 percent. [Read more →]
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State owned Chinese mining firm East China Mineral Exploration and Development Bureau (ECE) has announced it will invest in Brazil’s Itaminas iron ore mine for $1.2 billion according to Reuters.
The Brazil investment by the China firm is a purchase directly from mine owner Bernardo de Mello.
While the Brazil investment is expected to produce 25 million tons per year and hold an estimated 1.3 billion tons of iron ore reserves, the mine also carries $400 million in debt. [Read more →]
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US based automaker General Motors (US) has announced it will invest in Brazil an additional $780 million according to Bloomberg.
The Brazil investment will go towards ramping up two Sao Paulo factories in order to increase production and to add two new models to its assembly lines.
GM is the third in Brazil car sales and is competing with Volkswagen and Ford that also continue to heavily invest in Brazil. [Read more →]
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Brazil’s central bank announced it will keep interest rates in the Brazil economy unchanged at 8.75 percent according to AP.
With Brazil inflation rising 4.83 percent in February from a year ago, analysts are split about the decision by the Brazil central bank to keep rates the same considering the risk of the Brazil economy overheating.
Nonetheless, the Brazil government expects the Brazil economy to grow by 5 percent in 2010. [Read more →]
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Growth in the Brazil economy decline slightly in 2009 as it contracted 0.2 percent according to the Brazil government as reported by AP.
The bright spot to the flat Brazil economic growth news is the fact the fourth quarter saw a significant increase with the Brazil economy growing 4.3 percent, which in in line consensus forecasts of a 2010 growth rate of 5 percent for the Brazilian economy.
The worst hit sectors in the Brazil economy for 2009 were agriculture and industrials although services we up. [Read more →]
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The Brazil economy saw manufacturing drop in February as the Brazil PMI (Purchasing Managers’ Index) fell by 2 points to 55.8 according to Markit Research.
Any reading on the Brazil PMI above 50 shows manufacturing expansion in the Brazil economy and the report did highlight the fact that firms are starting to see an acceleration of input prices of raw materials which could signal future Brazil inflation in the Brazil economy. [Read more →]
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Unemployment in the Brazil economy rose to 7.2 percent in January according to Brazil’s national statistics agency as reported by Bloomberg.
The key drivers of the rise in unemployment in the Brazil economy are those who were temporarily employed for year-end holidays are not back looking fro work.
While higher then December’s number, the unemployment rate this January is lower that previous January’s so some economist consider the number a positive sign for the Brazil economy. [Read more →]
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The Brazil’s Central Bank raised the country’s banking reserve requirements in order to reduce liquidity in the Brazil economy according to WSJ.
The key driver of the move by the Brazil Central Bank is to pull back on measures enacted to fight the negative impact on the Brazil economy from the global financial crisis and Brazil recession.
The move puts the term deposit requirement at 15 percent up from 13 percent. [Read more →]
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The Brazil current account deficit over 12 months in the Brazil economy widened to $25.41 billion in January according the Brazil central bank as reported by Dow Jones.
Nonetheless, the Brazil current account deficit also fell from $5.95 billion in December to $3.84 billion in January.
Other key data announced by Brazilian central bank included a massive drop in the Brazil foreign direct investment in January of $789 million as compared to Decembers $5.11 billion even though expected. [Read more →]
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Car sales in the Brazil economy were up 11 percent in 2009 reaching a historic high for the BRIC nation according to BusinessWeek.
The Anfavea association of automakers said domestic and imported vehicles sold in the Brazil economy hit 3.14 million units in 2009.
A Brazil government tax break is sited as the key driver of car sales in the Brazilian economy according to Anfavea as pressure of the global economic downturn would have otherwise softened sales. [Read more →]
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Brazil’s National Confederation of Industries (CNI) announced that industrial capacity in the Brazil economy rose to 81.7 percent in December according to Dow Jones.
The rise if from 81.3 percent in November and is the sixth consecutive rise as the Brazil economy continues to recover from the global recession.
Industrial capacity is a closely watched measure as a leading indicator of possible inflation in the Brazil economy. [Read more →]
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The Brazil government has announced a temporary cut in gasoline taxes for three months in order to aid the Brazil economy according to Bloomberg.
The move is designed to squash inflation in the Brazil economy and stabilize prices after refineries cut the percentage of ethanol used in Brazilian gas because of a decline in ethanol stockpiles.
It is expected that the reduction in gas taxes will have no impact on any interest rates decision by the Brazil central bank. [Read more →]
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Royal Dutch Shell announced plans to invest in Brazil ethanol as much as $1.63 billion according to Xinhua.
The Brazil investment is through a joint venture with Cosan SA with the intent to to produce ethanol made from sugar cane.
In addition, the Shell investment in Brazil gives Cosan the option of selling ethanol overseas through access to Shell’s global distribution network. [Read more →]
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Pay TV subscriptions in Brazil economy rose 18.3 percent in 2009 according to Anatel as reported by Dow Jones.
Details of the rise include a rise of 32.2 percent in satellite services and a 13.2 percent increase in cable TV subscriptions.
Anatel, the Brazilian Telecommunications Agency, estimates that Brazil economy now has overall 7.47 million households subscribing to pay TV and is a clear sign that the middle class in Brazil continue to get bigger. [Read more →]
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The Brazilian Central Bank has announced it will hold its overnight interest rate at 8.75 percent in order to help spur the Brazil economy according to Dow Jones.
The move is expected despite concerns over renewed signs of inflation in the Brazil economy as the IPCA inflation rate rose from 4.18 percent in mid-December to 4.31 percent in mid-January.
Nonetheless, even with Brazil inflation at 4.31 percent, it is still below the Brazilian central bank and Brazil governments inflation target of 4.5 percent. [Read more →]
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Building and construction materials sales in the Brazil economy fell by 12.3 percent in 2009 according to Dow Jones.
The Brazilian Association of the Construction Materials Industry considers the global credit crunch and the Brazil recession as key drivers of the decline in the Brazil economy.
Nonetheless, expectations are that with the Brazil government’s “My House, My Life” stimulus program and the infrastructure projects for the 2014 World Cup that building and construction materials sales should pick up as much as 15 percent in 2010. [Read more →]
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With solid growth in the Brazil economy and inflation on the rise the Brazil central bank is expected to raise interest rates as high as 11.25 percent by the end of 2010 according to Bloomberg.
Causes for inflationary concern in the Brazil economy includes the increased pace of economic activity, Brazil government stimulus and rising food and gasoline prices.
Brazil’s overnight interest rate currently sits at 8.75 percent. [Read more →]
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Vivendi, the French based entertainment and telecom firm, has announced it will further invest in Brazil’s telecom operator GVT Holdings according to Dow Jones.
The new Brazil investment in GVT gives Vivendi a 85.7 percent stake in the firm up from the 72.1 percent stake it held in December.
The Vivendi investment in Brazil’s GVT is a strategic move directed at the firms main rival in the Brazil telecommunications market Telefonica. [Read more →]
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The Brazil government and the Brazil Central Bank have kept the benchmark interest rate stable for the third straight meeting in a row in order to keep the Brazil economy growing according to Bloomberg.
The overnight rate is currently set at 8.75 percent and is considered to be consistent with a non-inflationary recovery according to the bank board’s statement.
It is likely that the Brazil Central Bank will keep rates at this level for quite some time as the Brazil economy continues to grow at a steady pace. [Read more →]
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Spain based telecommunications firm Telefonica announced it will invest in Brazil more than $1 billion in 2010 according to Reuters.
The Brazil investment news comes as Telefonica has struggled to gain share from French based Vivendi due to poor-service quality and a decline in its fixed-line business.
Telefonica’s Brazil investment plans also come after a failed acquisition of Brazilian based GVT. [Read more →]
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The Brazil economy saw manufacturing output rise in November as the Brazil Manufacturing Purchasing Managers’ Index (PMI) hit 55.5 according to Reliable Plant Magazine.
The key driver to the increase was domestic as opposed to foreign demand as the Brazil economy continues to thrive despite the impact of the great recession.
The positive Brazil economic news puts the Brazil Manufacturing Purchasing Managers’ Index (PMI) at a two year high. [Read more →]
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China based and state owned Wuhan Iron and Steel has announced it with invest in Brazil’s steel mining firm MMX according to Reuters.
The amount of the Brazil investment is estimated at $400 million and will give Wuhan a 21.52 percent stake in MMX as the Chinese government continues to leverage state own entities to secure access to raw materials and commodities. [Read more →]
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The Brazil economy saw car sales fall 21 percent in the first half of November according to Dow Jones.
The decline comes after two months of car sales increases and a 36 percent increase a year ago in November of 2008.
Nonetheless, the Brazil economy expects to see over 3 million cars sold in 2009 which is up from the 2.8 million sold in 2008. [Read more →]
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The Brazil economy grew 9 percent in the third quarter marking a pace next to China according to Bloomberg.
Typically the Brazil economy has seen an annualized pace of 7.6 percent GDP where as China’s GDP growth has typically managed to outpace other BRIC countries with 9.2 percent GDP.
While the faster growth is welcome considering the impact of the global financial crises, the new concern is whether or not the Brazil government will need to withdraw some of its stimulus and tighten monetary policy in order to control the treat of inflation in the Brazil economy. [Read more →]
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Coca-Cola has announced it will invest in Brazil $5.8 billion through the year 2014 according to Dow Jones.
The new Brazil investment is up by $2.5 billion the firm spent in the previous five years.
The Brazil economy is one of the top markets for Coke as it has seen growth expand by 50 time in the last 25 years. [Read more →]
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Car sales in the Brazil economy are expected to hit the 3 million mark in 2009 according to the Brazil Motor Vehicles Manufacturers Association (Anfavea) as reported by Dow Jones.
On average since July, 250,000 cars were sold in the Brazil economy and the pace is expected to continue through out 2009 and into 2010.
Key drivers that are spurring demand for cars in the Brazil economy include a Brazil government tax break resulting in a sticker price reduction of about 7 percent in addition to lower interest rates and extended payment terms on financing. [Read more →]
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Total Brazil investment inflows in October hit $13.11 billion according to the Brazil central back as reported by Dow Jones.
Key drivers of the rise in Brazil investment inflows include overseas debt sales by local firms and local share offers such as the IPO of Banco Santander which raised as much as $6 billion.
Year to date, Brazil net inflows accounted for $22.86 billion as compared to $12.55 billion in 2008. [Read more →]
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Unemployment in the Brazil economy fell in September to 7.7 percent according to the Brazilian Census Bureau (IBGE) as reported by Dow Jones.
The positive Brazil economic news for Brazil unemployment is better than expected as most economists forecast a rate of 8.1 percent and it is the lowest rate in the Brazil economy since a reading of 6.8 percent in December of 2008.
The Brazil government considers an unemployment rate between 7 and 8 percent as normal or target for the Brazil economy. [Read more →]
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The Brazil government has announced it will impose a Brazil investment tax on foreign inflows according to Bloomberg.
The move is designed to counter excess speculation driven by investment in Brazil fixed-income securities and stocks by foreign investors and to curb the appreciation of the Brazil currency, the real.
While not a traditional form of protectionism, some foreigners and foreign government may consider this a protectionist measure in some shape or form. [Read more →]
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The Brazil trade surplus in September slipped to $1.3 billion from $3 billion in August according to Reuters.
The key driver of the decline in the Brazil trade surplus was Brazil imports hitting $12.5 billion with Brazil exports remaining flat.
Analysts expected a Brazil trade surplus of $2.2 billion. [Read more →]
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The Brazil economy is officially out of recession according to the Brazil government and the Brazilian Census Bureau (IBGE) as reported by Dow Jones.
By Brazil GDP (gross domestic product) expanding in the second quarter by 1.9% it marks the second consecutive quarter of positive Brazilian economic growth.
Key drivers of the rapid recovery in the Brazil economy include Brazil government stimulus, consumer goods tax cuts and aggressive monetary-easing. [Read more →]
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Inflation in the Brazil economy sunk to a three year low in August according to Dow Jones.
The Brazilian economic news will likely prompt the Central Bank of Brazil to keep interest rates low in order to spur continued growth in the Brazil economy.
Inflation in the Brazil economy is measured by the IPCA consumer price index which is heavily waited by food prices. [Read more →]
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Industrial output in the Brazil economy rose in July for the seventh consecutive month according to Bloomberg.
The Brazil economic indicator rose 2.2 percent marking its largest gain in over a year.
Key drivers impacting the positive Brazilian economic news include Brazil government stimulus and a decline in interest rates that are spurring growth. [Read more →]
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The Brazil government will receive $3.9 billion in International Monetary Fund (IMF) drawing rights to increase its international reserves according to Bloomberg.
The move by the International Monetary Fund (IMF) to help the Brazil government and the Brazil economy is part of plan developed at the G-20 meeting in April to distribute as much as $250 billion to its members.
The Brazil economy, Latin America’s largest, held as much as $214 billion in international reserves at the beginning of August. [Read more →]
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The Consumer Confidence Index (ICC) in the Brazil economy fell to 111.0 points in August according to Dow Jones.
The Brazilian economic news makes it the first decline in the Consumer Confidence Index (ICC) in six months which is interesting considering how well the Brazil economy has weathered the global recession storm.
The Consumer Confidence Index (ICC) measures the willingness of Brazilian families to buy consumer goods through as many as 2,000 interviews in seven Brazil cities. The index also considers income and employment expectations. [Read more →]
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Unemployment in the Brazil economy is down by a tenth of a percent according to Dow Jones.
The Brazilian economic news is a continued sign that the Brazil economy is stabilising in the wake of the global recession.
July figures place unemployment in the Brazil economy at 8.1 percent. [Read more →]
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During a meeting with Brazilian President Luiz Inacio Lula da Silva, Mexican President Felipe Calderon is urging the countries to enter into a free trade agreement according to Bloomberg.
The move to strengthen Brazil trade relations is part of a plan by Mexico to diverse its trading partners as it currently maintains about 80 percent of its exports with the US. [Read more →]
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PepsiCo, world leader in convenient snacks, foods and beverages, has announced it will invest in Brazil through a purchase of Amacoco Nordeste Ltda and Amacoco Sudeste Ltds according to AP.
The Brazil investment puts PepsiCo in the coconut water business through exclusive contracts to assure high-quality coconut water and two manufacturing facilities to produce popular Kero Coco and Trop Coco drinks. [Read more →]
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ArvinMeritor, US based auto industry supplier of integrated systems, modules and components, has announced it will invest in Brazil $10 million according to AP.
The Brazil investment is part of the firms strategy to become a global commercial vehicle company as it plans to expand into new manufacturing technology and product segments.
Production in South America and is up 9 percent which make sense for the firm to invest in Brazil despite the overall decline in car sales globally. [Read more →]
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The Brazil economy has officially moved into a recession according to Finance Minister Guido Mantega and Dow Jones.
The announcement comes as Brazil GDP contracted 1.8% in the first quarter of 2009 year on year.
While the negative Brazil economic news is expected consider the impact of the global recession, the Brazil government is confident that the Brazil economy will recovery quickly as compared to developed countries such a the US and those in Europe. [Read more →]
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The Brazil economy continues to see the Brazil central bank cut rates according to MarketWatch.
The recent Brazil economy rate cut is the third consecutive cut and puts the Brazil benchmark interest rate at 10.25% down 100 basis points from the cut on March 11.
The key driver of the trend by the Brazil central bank to cut rates is continues pressure on Brazil economic growth by the current global recession. [Read more →]
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The Brazil economy posted a current account deficit of $1.64 billion in March which is significantly down for the $4.34 billion posted a year ago according to Reuters.
Nonetheless, economist expected the Brazil economy an account deficit of $664 million for the month. [Read more →]
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National car sales in the Brazil economy rose 1% in February according to Dow Jones.
The key driver of the increase was due to a significant rise in Volkswagen sales which were up as much as 12% in January and 11% in February as VW’s Gol model continues to gain popularity and as Volkswagen continues prices reductions. [Read more →]
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Coca-Cola Brazil has announced it will further invest in Brazil $764 million according to Dow Jones.
The Brazil investment commitment is 16.6% higher than last year and is a clear indication that Coke is committed to the Brazilian market.
Coca-Cola 2008 revenues were up 25% and sales volume grew 7% from the previous year from Brazil operations. [Read more →]
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Brazil posted its first Brazil trade deficit in eight years as the global economic crisis takes hold according to Reuters.
The Brazil trade deficit of $518 million compares to a surplus of $922 million just a year earlier.
The key driver to the new Brazil trade deficit is a steep decline in exports plunging 29.2 percent from December and 26.3 percent year-on-year. [Read more →]
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The Brazil economy saw industrial production decline by 12.4 percent in December according to Reuters.
The decline is worse than expected as the median forecast of 23 analysts suggested only a 6.6 decline in industrial production.
While the Brazil economy seemed to fair better than other BRIC emerging economies in 2008, there are continuing signs that Brazil is not immune to the negative impact of the global economic crisis. [Read more →]
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President Luiz Inácio Lula da Silva, leader of the Brazil government, has made a conscience decision not attend the World Economic Forum in Davos, Switzerland according to Bloomberg.
The decision by Lula and the Brazil government is seen as a big blow to globalization as the world continues to struggle in the wake of the global economic crisis.
To add salt to the wound, Lula attended an anti-capitalist jamboree in the Amazon as an alternative to Davos which could be a clear sign that he is moving back to his populist tendencies that ultimately helped him get elected as president of the current Brazil government. [Read more →]
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Brazil foreign direct investment (FDI) surged to $8.12 billion in December to give Brazil investment a record for 2008 according to Bloomberg.
Annually for 2008, Brazil Foreign Direct Investment (FDI) hit $45.1 billion despite the negative impact of the global economic crisis.
The Brazil government is relying on Brazil Foreign Direct Investment (FDI) as a means to finance its balance of payments and to counter the negative effects of investors who are pulling money out of Brazil’s capital markets. [Read more →]
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The Brazil central bank cut interest rates to 12.75 from 13.75 percent to help spur the Brazil economy as the global economy slowdown continues to take hold of the BRIC economies according to AP.
The Brazil economic news puts Brazil’s interest rate at it lowest level since March of 2007 and forecasts expect the Brazil central bank to lower rates to 11.25 percent by 2010 in order to keep the Brazil economy growing.
While the decision to cuts rates was unanimous, three of the eight central bank committee members recommended only a 75 basic point reduction as opposed to the full point. [Read more →]
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The Brazil Labor Ministry announced that the Brazil economy lost as much as 654 thousand jobs in December as the unemployment rate hit a seven year low to 6.8 percent according to Bloomberg.
The hardest hit sector of the Brazil economy was manufacturing with a total of 273,249 jobs lost.
The negative Brazil economic news continues to further the impact of the global economic crisis as the Brazil economy is now performing its worst since 2003. [Read more →]
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Brazil’s central bank has announced it will lend $20 billion to businesses in order to pay international debt as the Brazil economy starts to feel the pain of the global economic slowdown according to Bloomberg.
Standard & Poor’s estimates that Brazilian companies have as much as $61.6 billion in foreign debt due in early 2009 and as much as $44.9 billion due in less than a year.
While the Brazil economy has weathered the global economic slowdown fairly well, Brazil economic activity fell 4.5 percent in December and has started to concern the Brazil government as it tries to hit its growth targets for the Brazil economy. [Read more →]
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Brazil’s central bank has announced it will lend $20 billion to businesses in order to pay international debt as the Brazil economy starts to feel the pain of the global economic slowdown according to Bloomberg.
Standard & Poor’s estimates that Brazilian companies have as much as $61.6 billion in foreign debt due in early 2009 and as much as $44.9 billion due in less than a year.
While the Brazil economy has weathered the global economic slowdown fairly well, Brazil economic activity fell 4.5 percent in December and has started to concern the Brazil government as it tries to hit its growth targets for the Brazil economy. [Read more →]
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The Brazilian Central Bank revised its growth forecast for the Brazil economy from 5 percent to 5.6 percent for 2008 according to AP.
In addition, the Brazil economy is expected to see an overall increase of 1.8 million to 1.95 million jobs for 2008.
Although the Brazilian economic news is positive, economist expect the Brazil economy to only grow 3.2 percent in 2009 as the global economic slowdown continues to take hold of the Brazil economy and other emerging market economies. [Read more →]
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The central bank of Brazil lowered its inflation forecast for the Brazil economy to 6.2 percent for 2008 and 4.7 percent for 2009 according to Bloomberg.
Key drivers of the revised Brazil economic forecast include as reduction in commodities prices, lack of credit and a decline in Brazilian investment.
Along with the expected deflation, the Brazil economy is likely to only growth 3.2 percent in 2009 as opposed to the 5.6 percent forecast prior to the global economic slowdown. [Read more →]
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Europe’s largest retailer, Carrefour, announced plans to invest in Brazil according to Bloomberg.
While the dollar figure of the Carrefour Brazil investment was not disclosed, the firm did state it would open as many as four more new stores in the Brazilian market.
Carrefour sees the Brazil investment as a path to making Brazil as the second biggest market for the Paris headquartered firm despite the global economic slowdown continues to plague developed and emerging economies. [Read more →]
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The Brazil economy saw retail sales rise 10 percent in October according to Bloomberg.
The Brazil economic news beat forecast of 26 of 27 economist who expected the Brazilian economy to only see retails sales growth of 9 percent which is a surprise considering the global economic slowdown and its affect on the Brazil economy. [Read more →]
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The Brazil government announced that it will cut taxes by $3.6 billion in an effort to help spur the Brazilian economy according to Bloomberg.
The Brazilian economic news comes as the Brazilian government attempts to hit its 4 percent growth target in the wake of the global economic crisis.
The tax cut plan will ease taxes on personal income and consumer loans as well as allow the central bank to help Brazilian companies repay debts through use of international reserves. [Read more →]
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The Brazil economy grew 6.8 percent in third quarter according to AP.
The news from the IBGE statistics agency for the quarter comes just before the global economic that hit its hardest in October of this year so future expectations are likely to be reduced.
Several economists expect the Brazil economy to grow to about 5.2 percent for 2008. [Read more →]
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The Brazilian economy has lost as much as 10,000 jobs in October according to AP.
Nonetheless, the Brazilian government is confident that the Brazil economy is uniquely positioned to weather the global economic crisis yet many expect further job losses as demand in leather products, shoes and furniture continue to decline.
In addition, Cyrela Brazil Realty SA, Brazil’s largest real estate developer has recently announced that it expects a rapid decline in building projects over next few months. [Read more →]
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The Brazilian government expects the Brazil economy to grow 4 percent in 2009 compared to its original forecast of 5 percent according to AP.
The Brazilian economic outlook by the Brazil government is significantly higher as many independent analysts are projecting only a 3 percent growth rate for the Brazilian economy in 2009.
Nonetheless, the Brazilian government including the Central Bank President Henrique Meirelles is optimistic that the Brazilin economy will weather the global economic crisis storm. [Read more →]
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Ford, the US based automaker, has announced that it will continue to invest in Brazil according to the Dow Jones Newswires.
The Brazil investment news comes as the world faces the threat of global recession and as Ford continues to see its share price deteriorate to just above $2.
Nonetheless, Ford plans to invest $1.5 billion in South America and the Mercosur trade bloc of which 85 percent is ear-marked for investment in Brazil.
Ford is currently the number 4 auto seller in Brazil and is expecting to sell over 300,000 cars by the end of 2008. [Read more →]
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The Brazilian government maintains its 2009 growth forecast of 4 to 4.5 percent for the Brazil economy according to Reuters.
The statement comes as many other emerging economies are revising growth estimates down in the wake of the global financial crisis,
Nonetheless, a bigger threat to the Brazilian economy is the sharp decline in commodity prices. [Read more →]
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South Korea’s biggest auto maker and the world’s fifth largest, Hyundai Motor Co, has announced plans to invest in Brazil according to Reuters.
The firm stated the Brazil investment will produce an annual capacity of 100,000 units and will cost $600 million to build a new automobile factory.
The factory is set to start production in 2011 and will be located in Piracicaba City just 100 miles outside of Sao Paulo. [Read more →]
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US based Tyson Foods, the world’s largest processor and marketer of chicken, beef, and pork, has announced it will invest in Brazil according to Reuters.
The Brazilian investment involves the acquisition of three local Brazilian companies yet the names of neither the companies nor the acquisition values were disclosed.
The deal uniquely positions Tyson as Brazil is the world’s largest chicken and beef exporter. [Read more →]
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Sara Lee Corp., the US based packaged-food giant, has announced it will acquire the Brazilian coffee producer Cafe Moka according to the Chicago Tribune.
While the size of the Brazil investment by Sara Lee was not disclosed, the deal does strenghten Sara Lee’s competitive position on the Brazilian market as Cafe Moka current sales account for aprroximately $65 million per year. [Read more →]
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Magnesita Refractories, Latin America’s largest maker of specialty tiles, has announced its Brazilian investment of Germany’s LWB Refractories for $394 million according to Bloomberg.
The Brazilian investment deal is expected to make Magnesita the third-largest refractory-tile maker in the world with approximately $642 million in annual sales.
Magnesita currently controls 70 percent of the Brazilian market for tiles used in steelmaking. [Read more →]
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The Brazil government has declined an invitation to join the cartel of the Organization of Petroleum Exporting Countries (OPEC) according to the Economic Times.
While the move would certainly enhance Brazil trade of oil, the political implications with the US at this time are likely not worth an acceptance as the invitation comes directly from the Iranian government.
Brazil’s newly found offshore oil fields discovered late last year expect Brazil export of oil to reach the same levels as Nigeria and possibly Venezuela which are current OPEC members. [Read more →]
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Brazil industrial production output rose 8.5 percent year over year beating estimates according to Bloomberg.
The Brazilian economic news leads to expectations that the Brazilian central bank will likely raise interest rates next week further impacting the Brazil economy by slowing growth.
Brazil inflation for August is expected for released later this week and continues to creep up on the Brazilian government’s target upper range of 6.5 percent as Brazilian consumer prices in July hit 6.37 percent in July. [Read more →]
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The Brazil government has requested that the WTO impose Brazil trade sanctions against the United States of up to $4 billion according to Forbes.
The WTO Brazil trade sanctions involve illegal cotton subsidies that the Brazil government claims are not compliant with WTO rules.
In addition, the Brazilian government believes the United States cotton grower ranking as the world’s second largest producer is largely due to its $12.5 billion in subsidy payments to American farmers between the years of 1999 and 2003.
Brazil trade of cotton places Brazil fifth in the world with China as number one. [Read more →]
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The world’s largest retailer, Wal-Mart Stores Inc., announced it will invest in Brazil an estimated $1.1 billion according to Bloomberg.
The Brazil investment will go towards the opening of 90 new stores in 2009 which represents a 28 percent increase to Wal-Mart’s existing 318 stores in Brazil.
Wal-Mart ranks as Brazil’s third largest retailer and this Brazil investment is expected to generate 9,000 new Brazilian jobs. [Read more →]
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ArcelorMittal, the global steel producer, announced it will invest in Brazil $1.6 billion to increase steel production according to The Statesman.
The added capacity from the Brazil investment would equate to a capacity of 6.5 million tons of crude steel production capacity as opposed to ArcelorMittal’s current 3.9 million ton output.
The Brazilian investment is expected to expand the existing Minas Gerais Monlevade plant with a completion date of within 30 months. [Read more →]
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The Brazil economy saw Brazilian consumer spending slow twice the rate of GDP between 2008 and 2009 according to Bloomberg.
According to Itau analyst, it is estimated that Brazilian personal consumption may slow 7.9 percent this year to 5.2 percent in 2009.
Nonetheless, despite the concern that the Brazil government’s attempt to control inflation will negatively impact the growth of the Brazilian economy; rising incomes and low unemployment have spurred spending as retail sales hit 10.5 percent in May. [Read more →]
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Brazilian government officials balked at the idea of cutting tariffs on agricultural imports on day one of the World Trade Organization’s (WTO) Doha round of talks according to the Telegraph.
The proposed agricultural import tariff cut was 60 percent and was dismissed by Brazil government officials as propaganda by the EU while EU officials consider the offer considerable.
The crux of the conflict over tariffs on agricultural imports is that developing nations believe tariffs and subsidies are keeping farmers in poverty and undermine free trade. [Read more →]
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Inflation in the Brazil economy slowed unexpectedly in June according to Reuters.
A 0.74 percent rise in June compared to the 0.79 percent increase in May offers some psychological relief to the Brazilian economy and the Brazil government.
Nonetheless, food and beverage prices rose 2.11 percent in June up from 1.95 percent in May leaving the Brazil economy vulnerable to further consumer pain. [Read more →]
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Brazilian President Luiz Inacio Lula da Silva spent time to visit with member of the Vietnamese government to promote Brazilian trade according to AFP.
The visit is the first from a Brazilian president since 1989 and comes after a visit in February by Brazil’s Foreign Minister Celso Nunez Amorim to promote Brazil trade, healthcare and social affairs.
Nonetheless, Brazil trade with Vietnam reached only $323 million in 2007. [Read more →]
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Spain’s biggest oil company, Repsol, has announced a Brazil investment of $1.5 billion to drill new oil deposits according to Bloomberg.
The Brazilian investment by Repsol will focus on extracting oil from the Santos Basin deposits discovered last year.
It is estimated the Repsol Brazil investment could produce [Read more →]
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Brazil central bankers expect the Brazil economy to experience 6.3 percent inflation by the end on 2008 according to Bloomberg.
The forecast is slightly higher than that of a week earlier and falls in line with the Brazilian government’s target of 4.5 percent Brazil inflation plus or minus 2 [Read more →]
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Goodyear Tire & Rubber Co, the largest U.S. tire maker, has announced it will invest in Brazil according to Reuters.
While the amount of the Goodyear Brazil investment was not disclosed, the company will invest as much as [Read more →]
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Caterpillar Inc, US based heavy machinery maker, has announced it will purchase MGE Equipamentos & Servicos Ferroviarios Ltda according to Reuters.
While the amount of the Brazil investment by Caterpillar was not disclosed, MGE makes motors and components for locomotives and train cars and employs about 400.
The investment in Brazil expands Caterpillar’s presence in rail services outside the U.S. and aligns with the Brazil government’s [Read more →]
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Bayer, the German pharmaceutical and chemical firm, has announced it will invest in Brazil $156 million according to International Herald Tribune.
The Brazil investment will go towards modernization and technical upgrading of existing Brazil operations in the Belford Roxo plant as well as additional sites.
Currently, Brazil contributes approximately a third of the [Read more →]
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Brazil inflation hit 5.58 percent in may as the benchmark IPCA index increased more than expected by 79 basis points according to Bloomberg.
The Brazil inflation increase adds the Brazil economy to the list of other global economies’ that are experiencing higher inflation.
The Brazil central bank inflation target is [Read more →]
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The Brazil government and the Brazil Central Bank have raised Brazil’s interest rate by a half a basis point according to the International Herald Tribune.
Despite the impact that a rate hike may have on the growth expectations of the Brazil economy, the move is welcome considering the concern over consumer demand which could ignite inflation and overheat the Brazil economy. [Read more →]
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Brazil has won a billion-dollar Brazil trade dispute against the US according to the NY Times.
The Brazil trade dispute is over unfair subsidies by the US government to American cotton growers and is a blow to the US as the World Trade Organization (WTO) voted against the US appeal on Monday.
The WTO decision now allows the Brazil government to request the authorization of retaliatory trade sanctions on the US worth [Read more →]
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The Brazil government as announced it will take steps to restrict Amazon land ownership by Brazil companies that are controlled by foreign capital according to AFP.
The move comes as the Brazil government sees [Read more →]
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Temasek Holdings, Singapore’s state-linked investment company, plans to invest in Brazil by expanding is presence into Brazil according to Forbes.
Currently, Temasek’s investment portfolio is 20 percent invested in Western economies with the remainder of the $100 billion in Asia.
The Brazil investment will place a [Read more →]
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The Brazil central bank is expected to raise interest rates according to Bloomberg.
The intended move comes as inflation continues to threaten Latin America’s biggest economy with the expectation that consumer prices will increase 5.12 percent this year.
Brazil’s current interest rate is at 11.75 percent. The Brazil central bank is expected to [Read more →]
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The Brazil government has announced that it expects Brazil trade of ethanol to increase 23 Percent according to AFP.
Despite pressure that biofuels are causing the run up on food prices, the Brazil government and the Agriculture Ministry expect ethanol exports to [Read more →]
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Standard & Poor’s (S&P), the US ratings agency, has announced that it is raising its Brazil investment grade rating according to AFP.
The move by the S&P will significantly help drive Brazil foreign direct investment as the rating goes from BB+, or so-called junk bond status, to BBB-.
The key driver of the Brazil investment grade change is due to the continued management maturity of the Brazil economy. [Read more →]
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The world’s largest sugar cane processor has announced it will purchase $826 million in Exxon Mobile assets according to Bloomberg.
The Brazil investment involves over 1,500 Brazilian service stations and positions Cosan to sell ethanol directly to consumers as the demand for ethanol in the Brazil economy continues to rise.
Nonetheless, ethanol and other biofuel production continue to [Read more →]
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The Brazil government has announced it will stop Brazil exports of rice according to International Herald Tribune.
The move by the Brazil government follows the same move by many Asian countries in order to protect domestic supplies. Rice is the staple of the Brazilian diet.
The short term impact is that Brazil will not deliver [Read more →]
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Luiz Inacio Lula da Silva and the Brazil government has defend Brazil’s biofuel program according to Xinhua News.
Biofuel is now being blamed for soaring food prices globally and the Brazil government is under fire as one of the leading produces and proponent of biofuel such as ethanol.
For more watch this informative video: Brazil government defends its biofuel boom
[Read more →]
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The Brazil government and the Brazil Central Bank raised interest rates for the first time in three years according to Bloomberg.
The move to 11.75 percent was more than expected yet fall in line will other economies that fear higher inflation.
The Brazil economy is currently experiencing inflation of [Read more →]
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General Motors Corp has announced it will invest in Brazil $200 million according to Reuters.
The Brazil investment will allow GM to built an engine and auto components plant in Joinville with a capacity to output 50,000 cylinder heads and 120,000 engines and per year to supply the Mercosul Region.
Although GM is struggling in the US, it continues to [Read more →]
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SCOR, the French reinsurance company, will be allowed to enter the Brazil reinsurance market as SCOR Global Life US Re Insurance Company according to CNN Money.
The approval by SUSEP (Superinténdencia de Seguros Privados Ministério da Fazenda) will allow SCOR to further invest in Brazil and expand its Latin America underwriting.
SCOR will now be able to offer casualty, surety, aviation and marine reinsurance in the Brazil market whereas [Read more →]
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Lloyd’s of London, the world’s oldest insurance market, is expected to receive a license to operate directly in the Brazil market according to the Telegraph.
The license, if granted, will be a first of its kind for a foreign reinsurer to enter the Brazilian market. The license will allow foreign reinsurers compete in a market worth an estimated $4 billion.
The Brazil government run IRB Brasil Re has held a monopoly in [Read more →]
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The world’s largest steelmaker, ArcelorMittal, has announced that it will invest in Brazil’s Gonvarri Brasil according to Reuters.
The Brazil investment by ArcelorMittal will take [Read more →]
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The Brazil government announced that Brazil industrial output hit 9.7 percent in February according to Bloomberg.
The increase represents a year over year gain 20 straight times in a row and signifies the extreme likelihood that the Brazil government will raise interest rates in order to control growing inflation.
The Brazil central bank uses a [Read more →]
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