By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – A report by the Economist Intelligence Unit says that Brazil is among the worst at coping with the language barrier of the English-speaking world of business, and that deals are being hindered because of it. Experts are warning that, with increased international interest in businesses based [...]
By Stephen Eisenhammer, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - Brazil’s finance minister, Guido Mantega, reiterated his opinion Monday that the appreciating U.S. dollar will increase the competitiveness of Brazilian industry. Speaking at the finance ministry, Mantega said that the current exchange rate, just under US$1 to R$2, allowed local products to remain cheaper than [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Brazilian government has made changes to the way in which the annual rate of interest is calculated on new deposits to the country’s national savings program. Analysts are explaining the move as a way for Brazil to reduce its benchmark interest rate, the [...]
By Stephen Eisenhammer, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL - Having replaced two executives at the end of April, there are rumors of more to come, as Petrobras´ CEO, Maria das Gracas Foster, begins to oversee changes at the top of Brazil’s state-run energy giant after taking control in February. Refining chief, Paulo Roberto Costa, [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The dollar ended with a fall of 0.67 percent on Thursday, after closing high five sessions in a row. However, it still closed relatively high against the Brazilian Real, at R$1.91. The main Stock Exchange index in São Paulo, Brazil’s economic powerhouse – the Bovespa [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – An investigation by the Polícia Federal (Federal Police) has found links between Brazilian construction giant Delta Construção, who walked out on the Transcarioca Bus Rapid Transit (BRT) consortium last week, and the now infamous Carlinhos Cachoeira (Waterfall) – the businessman at the center of [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Banco do Brasil (Bank of Brazil, BB) announced yesterday that it would be reducing interest rates on personal and corporate loans. The new rates will take effect on Monday, April 23rd, and will be second cut in the rates this month. According to the [...]
By Sarah de Sainte Croix, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian beverage giant, Ambev, announced on Monday that it had entered into a strategic alliance with the Dominican Republic’s biggest company, E. Leon Jimenes SA (ELJ), to form the leading beverage company in the Caribbean. Their combined business operations will include beer, [...]
By Sarah de Sainte Croix, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Brazilian government has an announced an aggressive program of budget cuts totaling R$55 billion for 2012. The aim is to allow inflation to fall and to boost growth at a time of global economic slowdown, as the Minister for Planning, Miriam [...]
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The U.S. Embassy in Brazil has issued travel advice urging its citizens to postpone any non-essential travel to Salvador and the surrounding state of Bahia following the unrest caused by the Polícia Militar (Military Police) strike which began on February 1st. The official statement [...]
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