Brazilian Government Announces New Economic Measures

Brazilian Government Announces New Economic Measures

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The interim government of brazil announced on Tuesday the first economic measures to try to improve the country’s ailing economy, by cutting down spending and reducing Brazil’s public debt. Finance Minister, Henrique Meirelles, said that one of the measures include the creation of a ceiling […]

Congress in Brazil Expected to Approve New Primary Deficit

Congress in Brazil Expected to Approve New Primary Deficit

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The interim government of Brazil estimates that the primary budget deficit will reach R$170.5 billion in 2016, approximately 2.5 percent of the country’s GDP. The new estimate is a jarring 76.4 percent higher than the R$96.7 billion deficit estimated in March by the Rousseff Administration. […]

Brazil’s Interim Government Replaces Petrobras President

Brazil’s Interim Government Replaces Petrobras President

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The new interim government of Brazil announced on Thursday it is replacing the president of Petrobras. Former Energy Minister in the Cardoso Administration, Pedro Parente will replace Aldemir Bendine at the country’s state-run oil giant, the epicenter of a mega corruption scandal which has rocked […]

Brazil Minister of Tourism Defends Proposal to Legalize Gambling

Brazil Minister of Tourism Defends Proposal to Legalize Gambling

By Charlotte Markham, Contributing Reporter RIO DE JANEIRO, BRAZIL – The minister of tourism in Brazil, Henrique Eduardo Alves, once again defended a proposal to legalize gambling in the country, at the opening of the tourism fair, Destination Brazil Travel Mart, yesterday (May 18th). Presently, gambling is prohibited in Brazil, but Alves cited the legalization […]

Brazil Announces New Central Bank President

Brazil Announces New Central Bank President

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The new finance minister of Brazil, Henrique Meirelles, announced Tuesday morning the appointment of Ilan Goldfajn as the new Central Bank president as part of the government’s plan to revamp the country’s ailing economy. Meirelles also announced that the government would seek Congressional approval to […]

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 […]

Economists Predict Impeachment Rally Likely to be Short-Lived

Economists Predict Impeachment Rally Likely to be Short-Lived

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The day after Brazil’s Chamber of Deputies authorized the continuation of the impeachment process of President Dilma Rousseff, by the country’s Senate, economic analysts try to forecast how the country’s economy will react to a possible impeachment. For Neil Shearing, Chief Emerging Markets Economist, at […]

Foreign Investors Start Looking at Opportunities in Brazil Again

Foreign Investors Start Looking at Opportunities in Brazil Again

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Many foreign investors are looking at Brazil as an interesting option again, between the high interest rates and weaker currency. After reaching an all time high for direct foreign investments of US$20,427 million in December of 2010, years of disappointing declines have just bounced back […]

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