Brazil Increases Inflation Forecast for 2016 to 7.3 Percent

Brazil Increases Inflation Forecast for 2016 to 7.3 Percent

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s Central Bank increased its forecast of annual inflation for this year, from a 6.9 percent forecast in June to 7.3 percent. The increase in inflation forecast is in the Quarterly Inflation Report, released on Tuesday (September 27th) in Brasilia. This latest forecast, however, calls […]

Bank Workers in Brazil Enter 16th Day of Strike

Bank Workers in Brazil Enter 16th Day of Strike

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A nationwide bank strike in Brazil entered its sixteenth day on Thursday, with no end to the negotiations in sight. With almost 14,000 branches and forty administrative centers closed, strikers are determined to hold out for their demands, leaving the population to conduct their financial […]

Foreign Agencies Improve Brazil’s GDP Forecasts for 2016/2017

Foreign Agencies Improve Brazil’s GDP Forecasts for 2016/2017

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite continuing economic turbulence, some foreign financial organizations are starting to register improvements in Brazil’s economy. The Organization for Economic Cooperation and Development (OECD), for example, has revised its forecast for economic contraction in 2016 from 4.3 percent (June) to 3.3 percent. Earlier in the […]

Brazil’s Labor Market Loses Over 1.5 Million Posts in 2015

Brazil’s Labor Market Loses Over 1.5 Million Posts in 2015

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Due to the economic recession Brazil lost over 1.5 million formal job positions in 2015, according to the country’s Labor Ministry, registering the worst result in thirty years. The government, however, is trying to reform labor laws to create opportunities, says Labor Minister, Ronaldo Nogueira. […]

Brazil Announces Onshore and Pre-Salt Field Auctions

Brazil Announces Onshore and Pre-Salt Field Auctions

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Mines and Energy Minister of brazil, Fernando Bezerra Coelho, announced on Thursday that the federal government will be auctioning off old onshore petroleum fields in February of 2017 and a pre-salt auction by June of 2017. “We are working so that the first […]

Brazil Announces ‘Project Growth’ Privatization Program

Brazil Announces ‘Project Growth’ Privatization Program

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian President Michel Temer announced earlier this week plans to privatize some of the nation’s airports, federal highways and rail lines, sewage systems, energy distributors and sell off gas and oil fields and state-controlled companies. With the plan, dubbed Projeto Crescer (Project Growth), the […]

Mercosur Partners Threaten to Suspend Venezuela

Mercosur Partners Threaten to Suspend Venezuela

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The tension between Mercosur partners increased on Tuesday, September 13th as chancellors from Brazil, Argentina, Paraguay and Uruguay decided not to allow Venezuela to occupy the presidency of the trade bloc and have threaten to suspend the South American country from the group. According […]

Domestic and Foreign Issues Pressure Brazilian Real, Markets

Domestic and Foreign Issues Pressure Brazilian Real, Markets

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The Brazilian real continued to depreciate in relation to the U.S. dollar on Monday morning as investors wait for Federal Reserve Governor Lael Brainard to indicate whether or not the Fed will increase U.S. interest rates next week. The nervousness of investors led the […]

Industry Groups Agree to Create Brazil-Argentina Business Council

Industry Groups Agree to Create Brazil-Argentina Business Council

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Business entities from Brazil and Argentina have decided to create the Brazil-Argentina Business Council (CEMBRAR) to increase trade and stimulate common policies between the two governments. The meeting between Brazil’s National Industry Confederation (CNI) and Argentina’s Industrial Union (UIA) seek to ease some of the […]

Auto Sales in Brazil Show Slight Recovery in August

Auto Sales in Brazil Show Slight Recovery in August

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Automobile sales in Brazil increased by 1.4 percent in August compared to the previous month and the slow improvement has executives from vehicle associations forecasting a more positive scenario for next year. However the forecast for 2016 remains at nearly twenty percent decline. “August was […]

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