News in Rio de Janeiro, Brazil

Brazil to Raise Taxes on U.S. Goods

By Doug Gray, Senior Contributing Reporter

RIO DE JANEIRO – In response to illegal U.S. subsidies granted to domestic cotton farmers, Brazil announced this week a list of American products that would be subject to higher rates of import tax by way of retaliation, and economists have warned of a possible trade war between the two countries.

The decision has a thirty-day window in which an agreement could still be reached, after which prices of cotton goods, medicines and cars amongst others, …

U.S. Navy’s USS Carl Vinson in Rio

By Jaylan Boyle, Senior Contributing Reporter

RIO DE JANEIRO – Late last month, fresh from playing a key role in Operation Unified Response, the international humanitarian aid mission to assist Haiti after the disastrous earthquake, the U.S. aircraft carrier USS Carl Vinson made a stopover in Rio de Janeiro. The purpose of the trip was to strengthen bilateral military relations, and a number of U.S. sailors also took part in a series of volunteer exercises in the city.

“We appreciate …

IBP Waits on Legislation Hold Ups

By Doug Gray, Senior Contributing Reporter

RIO DE JANEIRO – As Petrobras faces something of a funding crisis having already blown the vast majority of its US$174 billion budget forecast up to 2013, the control of Brazil’s ‘goldmine’ of pre-salt oil is beginning to show signs of cracking.

With four crucial pieces of legislation regarding ‘ownership’ of the oil, Petrobras’ independence, profit sharing and the distribution of the money via the creation of a fund for the Brazilian people still …

Fluminense Beats Botafogo 2-1 in Taça Rio

By Jayme Monsanto, Senior Reporter

RIO DE JANEIRO – Last weekend saw Taça Rio reaching round three, and the first classic match in the competition: Fluminense versus Botafogo. The two traditional rivals met on Sunday at the Maracanã Stadium, in a showdown that is known in Rio as “o Clássico Vovô” (“the Grandfather Classic”), since Botafogo and Fluminense are two of the oldest soccer teams in the city….