Is Brazil the next Venezuela

News for November 8, 2011

• As Petrobras executes its oil development plan, will Brazil suffer from the same power vacuum that consumed Venezuela? CNN
• Oil workers will hold labor talks with Petrobras on November 10.  Bloomberg
• Military Police remove student protesters from the University of Sao Paulo. RioTimes

Senate votes to expand the role of Central Bank

On Tuesday, the Economic Affairs Committee of the Senate approved a policy change that expands the power and authority of the Central Bank (CB).  If approved on the Senate floor, the CB will be charged with stimulating economic growth and job creation.  This new mandate will be added to a list of objectives that include stabilizing purchasing power of the real and ensure the financial system is robust and efficient.

Evening News Update for November 1, 2011

• President Rousseff ordered a thirty-day suspicion of payments to NGO’s nationwide Rio Times
• Brazil’s former president Lula has left a hospital after receiving his first chemotherapy treatment for throat cancer. Atlanta Journal
• Brazil Lacks Sugar Cane to Boost Ethanol Exports. Bloomberg

Reals ends October with 10% appreciation against the Dollar

The dollar closed the month of October with an accumulated fall of 9.89%, offsetting part of the high-September, when they rose by almost 18%. Today, the currency rose 0.83% and closed at R $ 1.694.

Evening News Update

• BNDES disbursements fall 28% in 2011 Reuters
• Brazil’s popular former President Lula da Silva started chemotherapy treatment for throat cancer Monday MercoPress
• Rio organized crime causes a Rio congressmen to leave the country Reuters
• Immigration to Brazil increases RioTimes.  More African immigrants are migrating to Brazil rather than Europe and North America RioWatch.

BNDES calls for increase lending to infrastructure

Evening News Update for October 27, 2011

• BNDES President calls for increase lending in Inferstucture.   President of the Brazilian Development Bank (BNDES) Luciano Coutinho said the bank needs to increase lending in order to increase development in infrastructure.  Over the course of the next five years BNDES will increase lending to quicken the pace of investment in Brazil’s long neglected infrastructure.     According to Bank President Coutinho, BNDES will seek to borrow in foreign currency.  In the near term, BNDES will finance 1 to 2 thirds of the cost of the redevelopment of Sao Paulo’s two major airports Guaruhos and Campinas.

• Unemployment rate at lowest point since measurement began.  The unemployment rate calculated by the Brazilian Institute of Geography and Statistics (IBGE) in the six main metropolitan regions stood at 6% in September, the same level as in August. This is the lowest rate for September since the beginning of the series in 2002. Read the report

• Government increases debt limit to R$ 15.7 billion to 10 states to increase investment in infrastructure.  The debt limit increase will use a combination of loans from BNDES,  the World Bank, and other entities to increase investment in infrastructure, sanitation, and transportation.  The ten states that will have there debt limit increased are  Acre, Amazonas, Bahia, Ceara, Mato Grosso, Paraíba, Pernambuco, Piaui, Rondonia and Sergipe.

News update for April 7, 2011

The government’s new tax on foreign issued debt has had no immediate signs of effectiveness.  Finance Minister Guido Mantegan admitted the rise of the real may be inevitable.  The real increased over the course of the day ending at $1.5868

The Producer Price Index Broad (IPA) decelerated in March to .60% from .96% reported in February.

The IBGE reported the Consumer Price Index (IPCA) was .79% for March.  The result was well aboute the estimated mean of prejections of .70%.

Finance Minister Guido is due to speak at 7:30 est about food inflation. More on that in the morning.  Check out what the world is saying about South America’s largest economy…

Brazil: Latin America’s Superpower [LatinTrade]

Will Brazil be ready for the 2016 Olympics…is there even a little hope for the Worldcup? [MSNBC]

Politics in Brazil: Mass confusion [Economist]

 

 

 

News update for April 5, 2011

Central Bank President encourages increased private sector debt market [WSJ]

Murilo Ferreira is nominated as Vale’s new CEO [FT]

Rousseff keeps military spending a priority despite $30 billion in cuts to other programs [Reuters]

Petrobras may need to raise $12-18 billion per year (in Portuguese) [O Estado De. S.Paulo]

Brazil’s publicly traded companies realize an increase in profits of 40% (in Portuguese) [Folha] 

News Update for March 31, 2011

Real continues uptrend despite Brazil’s Central Bank’s Intervention [WSJ] 

China imports threaten domestic economy [Bloomberg]

TAM Airline forms strategic alliance with Trip Airlines [FT]

Post WTO decision Cotton exports could increase [The Rio Times]

Evening News update for March 30 2011

Evening News update for March 30 2011

Dollar closes at R1.62, the lowest level since August 2008[Reuters]

Government increases inflation expectation and lowers growth forecast [WSJ]

Net positive capital inflows for the month of March [O Estado De. S.Paulo]

Government employs tax measures to curb short term credit growth and the rising real [WSJ]

Petrobras may import more gasoline if domestic ethanol supply does not meet demands [Valor]

Procter and Gamble invests $25 million in domestic production of Gillette Mach3 razors in in Manaus Brazil [Brasil Economico] 

Evening News Update March 29, 2011

News from around the web on Brazil’s Economy

Former President Lula De Silva advises Portugal to avoid EU sponsored bailout [Yahoo news]

ICAP projects Brazilian stock market to rise 10% this year [Bloomberg]

Brazil may import ethanol from the United States [New York Times]

Obama encourages Brazil to drill for oil [Washington Post]

Fast Company names Brazil’s top ten most innovative companies [Fast Company]

Rousseff’s administration attempt to curb rise of the real by imposing tax [Wall Street Journal]

Former Vice President Jose Alencar dies [BBC]