Selic Interest Rate Increased for the Seventh Time in Brazil

Selic Interest Rate Increased for the Seventh Time in Brazil

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s benchmark interest rate, the Selic, has been increased for the seventh time in a row by the Central Bank’s Monetary Policy Committee, COPOM. This time, another 0.5 percent were added to the rate, which now reaches 14.25 percent, a level last seen in […]

Brazil Shows Slight Increase in Industry Confidence

Brazil Shows Slight Increase in Industry Confidence

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Despite the negative news about the Brazilian economy as well as political unrest due to large scale corruption schemes, after five consecutive declines the government news wire announced that the Industry Trust Indicator (Índide de Confiança da Indústria, ICI), measured by the Fundação Getulio Vargas […]

Brazil Real Falls to R$3.34 per US$1, the Lowest in Twelve Years

Brazil Real Falls to R$3.34 per US$1, the Lowest in Twelve Years

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – The U.S. dollar ended this Friday (July 24th) selling at R$3.347 to US$1, an increase of R$0.051 (1.65 percent) on the day. The Brazilian real is at its lowest to the dollar since March 31, 2003, when the dollar closed at R$3.355. In the largest […]

Brazil’s Inflation Forecast for 2015 Increased Once More

Brazil’s Inflation Forecast for 2015 Increased Once More

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The forecast for the inflation in Brazil for 2015 has been increased again after data for June and July were registered by the IBGE (Brazilian Statistics Bureau). While the Central Bank’s forecast had reached 9.15 percent for the year on Monday, July 20th, the […]

TAM Airlines Announce Reduction in Domestic Services in Brazil

TAM Airlines Announce Reduction in Domestic Services in Brazil

By Georgia Grimond, Contributing Reporter RIO DE JANERIO, BRAZIL – TAM, the Brazilian brand of LATAM airline group, announced on Monday, July 20th, that it will be reducing its domestic activity by up to twenty percent by the end of the year and that staff layoffs can be expected. The company said that the routes […]

Mercedes-Benz Plans 2,000 More Layoffs in São Paulo Plant

Mercedes-Benz Plans 2,000 More Layoffs in São Paulo Plant

By Jay Forte, Contributing Reporter SÃO PAULO, BRAZIL – After a difficult year in Brazil’s automotive industry, Mercedes-Benz announced another volunteer layoff plan for their plant in São Bernardo do Campo, a municipality located 27 kilometers south of São Paulo city. According to the company, the measure is a further attempt to “manage the surplus […]

Commerce in Brazil Registers Lowest Growth Since 2002

Commerce in Brazil Registers Lowest Growth Since 2002

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Commerce in Brazil grew by 2.6 percent between January and June of 2015 in comparison to the same period last year. This constitutes the lowest increase registered for the first semester of a year since 2002, according to data published on July 7th by […]

Brazil Temporarily Introduces Reduced Work Hours and Salaries

Brazil Temporarily Introduces Reduced Work Hours and Salaries

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil’s President Dilma Rousseff has signed a temporary measure allowing companies to reduce working hours and employees’ salaries in order to avoid layoffs. Through the Programa de Proteção ao Emprego (Program to Protect Employment) companies in dire financial situations in designated sectors can reduce […]

Brazil’s Rousseff Calls for Unity During PT Conference

Brazil’s Rousseff Calls for Unity During PT Conference

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – On Thursday, June 11th, Brazil’s ruling Workers’ Party (PT) opened its fifth conference in Salvador, Bahia, trying to garner optimism while plagued by plummeting popularity and widespread corruption scandals. Concerns about the divisions within the party have been so great that President Dilma Rousseff cut […]

Brazilian Coffee Sector to Grow Two Percent in 2015

Brazilian Coffee Sector to Grow Two Percent in 2015

By Lisa Flueckiger, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The coffee sector in Brazil is set to grow by two percent in Brazil in 2015. The main driver of the growth is the production of coffee in capsules, where an increase in sales of 40 to 50 percent are expected according to the […]

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