IMF Improves Brazil’s GDP Outlook for 2016 and 2017

IMF Improves Brazil’s GDP Outlook for 2016 and 2017

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The interim government in Brazil celebrated the news that the International Monetary Fund (IMF) reduced its negative outlook forecast for the country’s GDP in 2016, from 3.8 percent in April to 3.3 percent in July. The international entity also forecast a mild growth in 2017 […]

Brazil to Increases Exports to European Union by R$250 Billion

Brazil to Increases Exports to European Union by R$250 Billion

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – An agreement signed at the World Trade Organization (WTO) last week will allow Brazil to export an extra R$250 million per year to the European Union, especially sugar and poultry exports, announced the Brazilian Foreign Relations Ministry, Itamaraty. “After three years of negotiations, conducted in […]

Australia Olympic House to Open in Rio’s Centro on August 6th

Australia Olympic House to Open in Rio’s Centro on August 6th

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Inside of one month to the 2016 Rio Olympic Games, on Wednesday July 13th, government officials announced that the event space of the Rio de Janeiro Bolsa de Valores (Stock Exchange) will be occupied by the Australia Olympic House, whose aim will be to promote […]

Retail Sales in Brazil Decline in May, Down 7.3% for Year

Retail Sales in Brazil Decline in May, Down 7.3% for Year

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Not even the strong appeal of Mother’s Day helped retail sales results in Brazil, according to the country’s official statistics bureau, IBGE. In May, according to the bureau, retail volumes fell by one percent in comparison to April and the accumulated decline in the first […]

Brazil’s Petrobras Registers Best June Production in History

Brazil’s Petrobras Registers Best June Production in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian oil giant, Petrobras, registered the best June on record for the production of oil and natural gas, totaling 2.9 million barrels per day, according to the state-controlled company. According to Petrobras, June’s results are over two percent greater than that registered during the […]

China as First Official Visit Abroad for Brazil’s Temer

China as First Official Visit Abroad for Brazil’s Temer

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – If suspended president Dilma Rousseff is impeached from office in August, Brazil’s interim President, Michel Temer, plans to take his first official overseas trip as leader of the country in September to China, Industry and Foreign Trade Minister Marcos Pereira announced over the weekend. Temer’s […]

Brazil Predicts 2017 Primary Deficit of R$143.1 Billion

Brazil Predicts 2017 Primary Deficit of R$143.1 Billion

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The government of Brazil announced on Thursday (July 7th) the forecast for the 2017 primary deficit for the federal, state and city governments at R$143.1 billion. According to the forecast, next year will see a reduction of the primary deficit by almost R$27 billion from […]

Brazil’s Retail Sales Register Worst Semester in 14 Years

Brazil’s Retail Sales Register Worst Semester in 14 Years

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Retail sales in Brazil registered a decline of 8.3 percent in the first semester of 2016 in comparison to the same period last year, according to the Serasa Experian Retail Activity Index. The result is the worst performance for a first semester since 2002, when […]

Rio Court Finds R$95 Million in Overpayment for Maracanã Works

Rio Court Finds R$95 Million in Overpayment for Maracanã Works

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A Rio de Janeiro audit court has ordered the state’s finance secretary to withhold more than R$198.5 million owed to construction companies due to irregularities found in an audit for their work in renovating world-famous Maracanã soccer stadium for the 2014 World Cup. According to […]

Decrease in Imports Helps Brazil’s Trade Balance Set Record

Decrease in Imports Helps Brazil’s Trade Balance Set Record

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The trade balance in Brazil closed the first semester of 2016 with a surplus of US$23.635 billion, according to the Ministry of Development, Industry and Foreign Trade (MDIC). This is the best result for a first semester in the history of the index. For the […]

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