IBOV 175,334.46 ▲ 0.74% IPSA 10,964.11 ▲ 0.12% IPC MEX 67,157.91 ▲ 1.17% MERVAL 3,305,316 ▲ 0.65% COLCAP 2,282.91 ▲ 0.37% BVL PERÚ 57,237.60 — — USD/BRL5.12▲ 0.63% USD/MXN17.46▼ 0.14% USD/CLP939.74▼ 0.97% USD/COP3,196▼ 0.65% USD/PEN3.40▼ 0.06% USD/ARS 1,497 — 0.00% USD/UYU40.15▲ 0.03% USD/PYG6,020▼ 0.02% USD/BOB11.32▲ 1.25% USD/DOP58.00▲ 0.02% USD/CRC449.99▲ 0.18% USD/GTQ7.62▼ 0.09% USD/HNL26.75▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES740.95▼ 0.05% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▼ 0.31% USD/TTD6.75▲ 0.59% EUR/BRL5.82▲ 0.59% BRENT 87.82 ▼ 9.26% WTI 81.96 ▼ 8.23% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.97% GOLD 4,066 ▼ 0.05% SILVER 58.39 ▼ 0.45% SOY 1,218 ▼ 2.40% CORN 477.50 ▲ 2.85% WHEAT 662.00 ▼ 2.36% COFFEE 323.05 ▲ 2.95% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 141.40 ▼ 0.25% COTTON 80.85 ▲ 2.93% COCOA 5,156 ▼ 4.09% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.63 ▲ 1.21% PETR4 41.01 ▼ 2.84% VALE3 75.69 ▲ 0.60% ITUB4 42.69 ▲ 1.40% BBDC4 18.71 ▲ 1.24% ABEV3 15.86 ▲ 1.41% BBAS3 20.50 ▲ 0.74% B3SA3 15.72 ▲ 1.81% WEGE3 46.40 ▲ 0.89% PRIO3 55.71 ▼ 5.29% SUZB3 41.87 ▲ 0.07% RENT3 37.72 ▲ 2.25% AZZA3 17.11 ▲ 2.76% CSAN3 3.95 ▲ 3.95% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 1.79% GMAT3 3.83 ▲ 1.06% PSSA3 54.29 ▼ 0.89% CVCB3 1.36 ▲ 1.49% POSI3 3.52 ▼ 0.85% SLCE3 13.38 ▼ 1.91% NATU3 8.49 ▲ 1.31% BRKM5 6.08 ▼ 0.33% RANI3 7.93 ▼ 0.25% CSNA3 5.71 ▲ 6.53% CMIN3 5.80 ▲ 1.93% USIM5 8.61 ▲ 1.53% GGBR4 24.48 ▲ 0.91% ENEV3 25.47 ▲ 2.29% CPFE3 44.75 ▼ 0.75% CMIG4 11.17 ▲ 1.73% EQTL3 38.80 ▲ 1.20% LREN3 13.73 ▲ 3.47% VIVT3 36.11 ▲ 2.26% RAIL3 13.80 ▲ 1.69% KLABIN 17.68 ▲ 0.91% RAIA DROGASIL 18.17 ▲ 1.06% RDOR3 33.60 ▲ 0.66% HAPV3 10.19 ▲ 2.72% FLRY3 16.53 ▲ 1.66% SMTO3 14.67 ▼ 2.52% UGPA3 32.09 ▼ 1.90% VBBR3 34.50 ▼ 1.71% BBSE3 40.54 ▼ 2.29% BPAC11 55.55 ▲ 1.61% CURY3 30.39 ▲ 3.54% AERI3 2.05 ▲ 0.49% VIVARA 22.01 ▲ 2.75% COMPASS 25.30 ▲ 2.18% VAMOS 3.17 ▲ 0.63% SANB11 27.36 ▲ 3.87% ASAI3 8.11 ▲ 3.31% SBSP3 28.87 ▲ 1.73% WALMEX 48.52 ▲ 0.92% GMEXICO 209.50 ▲ 1.07% FEMSA 230.17 ▲ 3.68% CEMEX 21.37 ▲ 0.90% GFNORTE 196.59 ▲ 2.25% BIMBO 59.24 ▲ 1.59% TELEVISA 9.93 ▲ 1.22% AMX 22.49 ▼ 1.40% GAP 377.40 ▲ 0.10% ASUR 268.57 ▲ 0.30% OMA 228.74 ▲ 1.15% KOF 189.00 ▲ 5.35% GRUMA 268.53 ▼ 0.06% KIMBER 39.92 ▲ 0.71% SQM-B 64,650 ▼ 1.07% COPEC 6,249 ▼ 1.28% BSANTANDER 80.77 ▲ 1.83% FALABELLA 6,155 ▲ 2.75% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,915 ▼ 2.20% CMPC 1,040 ▲ 1.41% BANCO CHILE 193.26 ▲ 0.08% LATAM AIR 24.60 ▲ 3.02% YPF 81,225 ▼ 0.95% GGAL 7,960 ▲ 0.89% PAMPA 5,475 ▼ 0.73% TXAR 674.00 — 0.00% ALUAR 984.50 ▲ 1.29% TGS 9,710 ▼ 0.56% CEPU 2,383 ▲ 0.76% MIRGOR 16,825 ▲ 1.82% COME 42.46 ▲ 0.12% LOMA NEGRA 3,700 ▲ 2.49% BYMA 302.75 ▲ 0.75% TELECOM ARG 4,490 ▲ 2.51% ECOPETROL 15.80 ▼ 1.31% BANCOLOMBIA 87.93 ▲ 2.23% GRUPO AVAL 4.82 ▲ 0.84% CREDICORP 390.99 ▲ 0.66% SOUTHERN COPPER 179.32 ▲ 0.02% BUENAVENTURA 31.72 ▲ 2.62% MERCADOLIBRE 1,820 ▲ 1.02% NUBANK 14.53 ▲ 3.12% XP 16.74 ▲ 0.30% PAGSEGURO 9.38 ▲ 1.96% STONE 10.89 ▲ 1.21% GLOBANT 32.64 ▲ 4.28% TECNOGLASS 45.44 ▲ 0.31% GAP AIRPORT 216.27 ▼ 0.00% ASUR 268.57 ▲ 0.30% OMA AIRPORT 104.80 ▲ 1.32% AMX ADR 25.70 ▼ 1.19% FEMSA ADR 132.15 ▲ 3.96% CEMEX ADR 12.21 ▲ 1.24% PETROBRAS ADR 18.00 ▼ 4.10% VALE ADR 14.78 ▼ 0.07% ITAU ADR 8.37 ▲ 1.09% SANTANDER BR 5.44 ▲ 2.64% AMBEV ADR 3.07 ▲ 0.33% CSN 1.12 ▲ 3.70% GERDAU 4.83 ▲ 0.42% LATAM ADR 52.27 ▲ 4.23% BTC 63,453 ▼ 2.89% ETH 1,878 ▼ 3.88% SOL 73.73 ▼ 3.75% XRP 1.06 ▼ 4.78% BNB 565.10 ▼ 1.64% ADA 0.16 ▼ 6.34% DOGE 0.07 ▼ 4.68% AVAX 6.43 ▼ 4.52% LINK 8.34 ▼ 5.39% DOT 0.76 ▼ 8.36% LTC 45.98 ▼ 3.80% BCH 212.80 ▼ 1.85% TRX 0.32 ▼ 2.46% XLM 0.17 ▼ 5.79% HBAR 0.07 ▼ 3.28% NEAR 1.69 ▼ 8.21% ATOM 1.30 ▼ 7.04% AAVE 97.64 ▼ 3.82% SELIC 14.25% EMBRAER 86.90 ▲ 5.33% EMBRAER ADR 67.99 ▲ 4.71% JBS 13.55 ▲ 10.34% JBS BDR 69.23 ▲ 11.59% MBRF3 15.89 ▲ 7.08% MBRFY 2.96 ▲ 0.68% INTER 5.56 ▲ 5.10% EGX 53,634 ▲ 0.40% USD/ZAR16.79▼ 0.27% USD/NGN 1,361 — 0.00% NIKKEI 62,928 ▼ 3.09% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,996 ▲ 0.96% KOSPI 6,364 ▼ 5.79% JCI 6,186 ▼ 0.17% USD/JPY163.78▲ 0.09% USD/CNY6.77▼ 0.10% DAX 25,361 ▲ 1.04% CAC 8,406 ▲ 0.40% FTSE 10,782 ▲ 0.42% MIB 52,055 ▲ 0.49% IBEX 19,741 ▲ 0.80% STOXX 644.62 ▲ 0.02% EUR/USD 1.1375 — 0.00% GBP/USD1.33▼ 0.34% SPX 7,413 ▲ 0.02% DJI 52,210 ▲ 0.51% NDX 28,039 ▼ 0.32% RUT 2,948 ▲ 0.62% TSX 35,568 ▲ 0.56% VIX 18.67 ▲ 0.48% USD/CAD1.41▲ 0.27% US10Y 4.6410 ▼ 0.81% IBOV 175,334.46 ▲ 0.74% IPSA 10,964.11 ▲ 0.12% IPC MEX 67,157.91 ▲ 1.17% MERVAL 3,305,316 ▲ 0.65% COLCAP 2,282.91 ▲ 0.37% BVL PERÚ 57,237.60 — — USD/BRL 5.12 ▲ 0.63% USD/MXN 17.46 ▼ 0.14% USD/CLP 939.74 ▼ 0.97% USD/COP 3,196 ▼ 0.65% USD/PEN 3.40 ▼ 0.07% USD/ARS 1,497 — 0.00% USD/UYU 40.15 ▲ 0.03% USD/PYG 6,020 ▼ 0.02% USD/BOB 11.32 ▲ 1.25% USD/DOP 58.00 ▲ 0.02% USD/CRC 449.99 ▲ 0.18% USD/GTQ 7.62 ▼ 0.09% USD/HNL 26.75 ▲ 0.02% USD/NIO 36.62 — 0.00% USD/VES 740.95 ▼ 0.05% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▼ 0.06% USD/TTD 6.75 ▲ 1.35% EUR/BRL 5.82 ▲ 0.60% BRENT 87.82 ▼ 9.26% WTI 81.96 ▼ 8.23% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.97% GOLD 4,066 ▼ 0.05% SILVER 58.39 ▼ 0.45% SOY 1,218 ▼ 2.40% CORN 477.50 ▲ 2.85% WHEAT 662.00 ▼ 2.36% COFFEE 323.05 ▲ 2.95% SUGAR 14.56 ▼ 1.42% ORANGE JUICE 141.40 ▼ 0.25% COTTON 80.85 ▲ 2.93% COCOA 5,156 ▼ 4.09% BEEF 218.30 ▼ 3.86% CATTLE 331.28 ▼ 4.07% LITHIUM 68.63 ▲ 1.21% PETR4 41.01 ▼ 2.84% VALE3 75.69 ▲ 0.60% ITUB4 42.69 ▲ 1.40% BBDC4 18.71 ▲ 1.24% ABEV3 15.86 ▲ 1.41% BBAS3 20.50 ▲ 0.74% B3SA3 15.72 ▲ 1.81% WEGE3 46.40 ▲ 0.89% PRIO3 55.71 ▼ 5.29% SUZB3 41.87 ▲ 0.07% RENT3 37.72 ▲ 2.25% AZZA3 17.11 ▲ 2.76% CSAN3 3.95 ▲ 3.95% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 1.79% GMAT3 3.83 ▲ 1.06% PSSA3 54.29 ▼ 0.89% CVCB3 1.36 ▲ 1.49% POSI3 3.52 ▼ 0.85% SLCE3 13.38 ▼ 1.91% NATU3 8.49 ▲ 1.31% BRKM5 6.08 ▼ 0.33% RANI3 7.93 ▼ 0.25% CSNA3 5.71 ▲ 6.53% CMIN3 5.80 ▲ 1.93% USIM5 8.61 ▲ 1.53% GGBR4 24.48 ▲ 0.91% ENEV3 25.47 ▲ 2.29% CPFE3 44.75 ▼ 0.75% CMIG4 11.17 ▲ 1.73% EQTL3 38.80 ▲ 1.20% LREN3 13.73 ▲ 3.47% VIVT3 36.11 ▲ 2.26% RAIL3 13.80 ▲ 1.69% KLABIN 17.68 ▲ 0.91% RAIA DROGASIL 18.17 ▲ 1.06% RDOR3 33.60 ▲ 0.66% HAPV3 10.19 ▲ 2.72% FLRY3 16.53 ▲ 1.66% SMTO3 14.67 ▼ 2.52% UGPA3 32.09 ▼ 1.90% VBBR3 34.50 ▼ 1.71% BBSE3 40.54 ▼ 2.29% BPAC11 55.55 ▲ 1.61% CURY3 30.39 ▲ 3.54% AERI3 2.05 ▲ 0.49% VIVARA 22.01 ▲ 2.75% COMPASS 25.30 ▲ 2.18% VAMOS 3.17 ▲ 0.63% SANB11 27.36 ▲ 3.87% ASAI3 8.11 ▲ 3.31% SBSP3 28.87 ▲ 1.73% WALMEX 48.52 ▲ 0.92% GMEXICO 209.50 ▲ 1.07% FEMSA 230.17 ▲ 3.68% CEMEX 21.37 ▲ 0.90% GFNORTE 196.59 ▲ 2.25% BIMBO 59.24 ▲ 1.59% TELEVISA 9.93 ▲ 1.22% AMX 22.49 ▼ 1.40% GAP 377.40 ▲ 0.10% ASUR 268.57 ▲ 0.30% OMA 228.74 ▲ 1.15% KOF 189.00 ▲ 5.35% GRUMA 268.53 ▼ 0.06% KIMBER 39.92 ▲ 0.71% SQM-B 64,650 ▼ 1.07% COPEC 6,249 ▼ 1.28% BSANTANDER 80.77 ▲ 1.83% FALABELLA 6,155 ▲ 2.75% ENELAM 85.89 ▲ 0.47% CENCOSUD 1,915 ▼ 2.20% CMPC 1,040 ▲ 1.41% BANCO CHILE 193.26 ▲ 0.08% LATAM AIR 24.60 ▲ 3.02% YPF 81,225 ▼ 0.95% GGAL 7,960 ▲ 0.89% PAMPA 5,475 ▼ 0.73% TXAR 674.00 — 0.00% ALUAR 984.50 ▲ 1.29% TGS 9,710 ▼ 0.56% CEPU 2,383 ▲ 0.76% MIRGOR 16,825 ▲ 1.82% COME 42.46 ▲ 0.12% LOMA NEGRA 3,700 ▲ 2.49% BYMA 302.75 ▲ 0.75% TELECOM ARG 4,490 ▲ 2.51% ECOPETROL 15.80 ▼ 1.31% BANCOLOMBIA 87.93 ▲ 2.23% GRUPO AVAL 4.82 ▲ 0.84% CREDICORP 390.99 ▲ 0.66% SOUTHERN COPPER 179.32 ▲ 0.02% BUENAVENTURA 31.72 ▲ 2.62% MERCADOLIBRE 1,820 ▲ 1.02% NUBANK 14.53 ▲ 3.12% XP 16.74 ▲ 0.30% PAGSEGURO 9.38 ▲ 1.96% STONE 10.89 ▲ 1.21% GLOBANT 32.64 ▲ 4.28% TECNOGLASS 45.44 ▲ 0.31% GAP AIRPORT 216.27 ▼ 0.00% ASUR 268.57 ▲ 0.30% OMA AIRPORT 104.80 ▲ 1.32% AMX ADR 25.70 ▼ 1.19% FEMSA ADR 132.15 ▲ 3.96% CEMEX ADR 12.21 ▲ 1.24% PETROBRAS ADR 18.00 ▼ 4.10% VALE ADR 14.78 ▼ 0.07% ITAU ADR 8.37 ▲ 1.09% SANTANDER BR 5.44 ▲ 2.64% AMBEV ADR 3.07 ▲ 0.33% CSN 1.12 ▲ 3.70% GERDAU 4.83 ▲ 0.42% LATAM ADR 52.27 ▲ 4.23% BTC 63,453 ▼ 2.89% ETH 1,878 ▼ 3.88% SOL 73.73 ▼ 3.75% XRP 1.06 ▼ 4.78% BNB 565.10 ▼ 1.64% ADA 0.16 ▼ 6.34% DOGE 0.07 ▼ 4.68% AVAX 6.43 ▼ 4.52% LINK 8.34 ▼ 5.39% DOT 0.76 ▼ 8.36% LTC 45.98 ▼ 3.80% BCH 212.80 ▼ 1.85% TRX 0.32 ▼ 2.46% XLM 0.17 ▼ 5.79% HBAR 0.07 ▼ 3.28% NEAR 1.69 ▼ 8.21% ATOM 1.30 ▼ 7.04% AAVE 97.64 ▼ 3.82% SELIC 14.25% EMBRAER 86.90 ▲ 5.33% EMBRAER ADR 67.99 ▲ 4.71% JBS 13.55 ▲ 10.34% JBS BDR 69.23 ▲ 11.59% MBRF3 15.89 ▲ 7.08% MBRFY 2.96 ▲ 0.68% INTER 5.56 ▲ 5.10% EGX 53,634 ▲ 0.40% USD/ZAR 16.78 ▲ 0.22% USD/NGN 1,361 — 0.00% NIKKEI 62,928 ▼ 3.09% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,996 ▲ 0.96% KOSPI 6,364 ▼ 5.79% JCI 6,186 ▼ 0.17% USD/JPY 163.77 ▲ 0.04% USD/CNY 6.7652 ▲ 0.16% DAX 25,361 ▲ 1.04% CAC 8,406 ▲ 0.40% FTSE 10,782 ▲ 0.42% MIB 52,055 ▲ 0.49% IBEX 19,741 ▲ 0.80% STOXX 644.62 ▲ 0.02% EUR/USD 1.1375 — 0.00% GBP/USD 1.3293 ▲ 0.01% SPX 7,413 ▲ 0.02% DJI 52,210 ▲ 0.51% NDX 28,039 ▼ 0.32% RUT 2,948 ▲ 0.62% TSX 35,568 ▲ 0.56% VIX 18.67 ▲ 0.48% USD/CAD 1.4124 ▲ 0.02% US10Y 4.6410 ▼ 0.81%
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Providência Gondola Controversy Grows

By · February 19, 2013 · 3 min read

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By Andrew Willis, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – The new cable car, or ‘Teleférico’, which is planned for Rio’s Morro da Providência favela community, is now set to open this May according to authorities. The second of its kind in Rio, the large infrastructure project has divided local residents, with transportation improvements coupled with forced evictions.

Morro da Providência is considered the first favela in Rio, Rio de Janeiro, Brazil News
Morro da Providência is considered the first favela in Rio, photo by Daniel Garcia Neto/Flickr Creative Commons License.
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The new cable car will consist of three stations, linking Rio’s central train station, the Morro da Providência favela and Samba City, the area where floats are made and stored ahead of carnival.

Sixteen gondolas with a capacity to transport 1,000 people per hour will shuttle along the 721-meter line, with the possibility to increase this number if demand exists. The equipment comes from German company Doppelmayr, currently responsible for the maintenance of the cable car that shuttles tourists up and down the Pão de Açúcar (Sugarloaf Mountain) hilltop.

The development will cost R$75 million (US$38 million), part of a larger R$163-million infrastructure package destined for the area. A similar cable car system opened in Rio’s Complexo do Alemão favela complex in 2011.

At 115 years old, Providência is Rio de Janeiro’s oldest favela, originally formed when veterans of the bloody Canudos war in Brazil’s northeast moved to the city. In April 2010 the community was ‘pacified’ under the Rio de Janeiro state government’s program to restore law and order to informal housing communities in the grip of drug dealers.

Many residents agree that the new cable car will help them negotiate the favela’s steep staircases that climb the Providência hillside, with locals set to gain two free tickets per day. The price for visitors has yet to be set but expected to be around R$1 per one-way trip.

The teleférico in Providência Favela, Rio de Janeiro, Brazil News
The teleférico in Providência is still under construction, but set to begin testing next month, photo by Leo Byrne.

At the same time however, roughly 670 local families face eviction to make way for the concrete towers that will hold the cable car wires. According to UPP Social, the arm of the pacification program aimed at social development, the entire community is made up of 4,094 residents in 1,272 homes.

New homes supplied by the government for the evicted families are frequently inadequate or far away, say observers. As a result, only a third of the families occupying houses marked for demolition have moved so far, opening up the possibility of a series of court cases in the months to come.

“Many of these families have complained they haven’t been consulted about the project or warned of upcoming evictions, which the city denies,” Flavie Halais, a freelance researcher, wrote on the OpenDemocracy website this month.

“The cable car line, residents say, was definitely not a priority for the community and will mostly serve tourists. The community has lost its only area of leisure, a centrally-located square, to construction work.”

Opponents to the project argue that private industry and tourists coming to Rio de Janeiro for the 2014 World Cup and the 2016 Olympic Games will be the main beneficiaries of the new cable car network.

Rio’s famous Maracanã football stadium – located not far from the Morro da Providência favela and currently undergoing refurbishment – is set to play host to several World Cup matches including the final, as well as the opening and closing ceremonies of the Olympic Games.

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