Brazil Sees Foreign Spending and Tourism Boost in First Quarter

Brazil Sees Foreign Spending and Tourism Boost in First Quarter

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – In contrast to most of the recent negative financial news from Brazil, on Tuesday, May 24th, the Central Bank released positive figures from the foreign spending sector. According to the Ministry of Tourism, the Central Bank data shows that spending by international visitors grew by […]

Michel Temer, Brazil’s New Interim President Takes Over

Michel Temer, Brazil’s New Interim President Takes Over

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Calling for unity and support of the population, Brazil’s interim president, Michel Temer, asked his fellow countrymen to trust his government and support the reforms needed to overcome the deep economic recession and corruption scandal which has shaken Latin America’s biggest nation. “It is essential […]

New Finance Minister in Brazil Maps Cost Cutting Plans

New Finance Minister in Brazil Maps Cost Cutting Plans

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The new finance minister, Henrique de Campos Meirelles, said today (May 13th) that the most important measure to be taken by the Ministry of Finance will be to contain the increase in public spending. According to Meirelles, the government has to control expenditure to avoid […]

Brazil’s Real Closes at R$3.44 to the Dollar but Stocks Drop

Brazil’s Real Closes at R$3.44 to the Dollar but Stocks Drop

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Yesterday (Wednesday, May 11th) in anticipation of the Brazilian senate’s vote to continue with the impeachment process of President Dilma Rousseff, the Brazilian real currency closed stronger to the U.S. dollar. The U.S. currency ended the day at R$3.44/US$1 in sales, down 0.6 percent compared […]

Housing Sales in São Paulo Plunge 16 Percent in March

Housing Sales in São Paulo Plunge 16 Percent in March

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – On Tuesday, May 10th, the São Paulo State Housing Syndicate (Secovi-SP) released the results of its most recent survey showing that new housing sales in São Paulo for March 2016 totaled 1,070 units, a 16 percent decrease compared to March 2015. Despite the March result, […]

Risk Agency Further Downgrades Brazil’s Credit Rating

Risk Agency Further Downgrades Brazil’s Credit Rating

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After withdrawing Brazil’s investment grade ranking in December, risk classification agency, Fitch, once again lowered the country’s credit rating, now from BB+ to BB. According to the risk agency the country remains in negative perspective, and more downward revisions may occur. “The downgrade of Brazil’s […]

Inflation Index for Brazil’s Low-income Families Outpacing Country

Inflation Index for Brazil’s Low-income Families Outpacing Country

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Today, May 5th, the Getulio Vargas Foundation released the Brazilian inflation index rates showing that the Consumer Price Index – Class 1 (IPC-C1), which measures the change in prices of goods and services, for families with incomes between 1 and 2.5 minimum monthly wages, rose […]

Number of Defaulting Companies in Brazil Increased 11 Percent

Number of Defaulting Companies in Brazil Increased 11 Percent

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – After Brazil suffered its worst GDP decline in over 25 years, an increasing number of businesses are now starting to default on their debts. A survey released on Wednesday (April 27th) by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers, showed the […]

Retail Sales in Rio de Janeiro Fall 6.1 Percent in March

Retail Sales in Rio de Janeiro Fall 6.1 Percent in March

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The retail sales in Rio de Janeiro fell 6.1 percent in March this year, compared to March 2015, according to the Sales Thermometer released yesterday (April 26th) by Centro de Estudos do Clube de Diretores Lojistas, or Shopkeepers Directors Club Study Centre – CDLRio. It […]

Brazil and Argentina Discuss Trade and Automotive Agreement

Brazil and Argentina Discuss Trade and Automotive Agreement

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Representatives from Brazil and Argentina met in Brasilia yesterday (April 26th) for the first meeting of the Brazil-Argentina Bilateral Commission to discuss the expansion of trade between the two countries. Among the main topics addressed were the renewal terms of an automobile trade agreement between […]

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