In 2011 Brazil would move ahead of Italy
According to The Economist Intelligence Unit, in 2011 Brazil would move ahead of Italy into seventh place in the ranking of the largest world economies with a GDP of US$2 billion.
The list of the world’s largest economies is expected to have a major reorganization in 2011. According to estimates by the Economist Intelligence Unit (EIU), China would retain the second spot that took from Japan, while the second quarter of 2011 will see the rise of other emerging markets: Brazil, Russia and India.
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Chinese companies have shown interest in several sectors
Chinese companies are preparing to invest in agri-business in Brazil, according to a report published Wednesday in Brazilian daily newspaper Estado de Sao Paulo.
The daily said that in April the China National Agricultural Development Group Corporation said it intended to buy land to produce soy and maize. In their initial contacts, the company’s negotiators showed interest in land in Central-West Brazil, particularly in the state of Goiás.
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With the economic recovery, Brazil has come out of the crisis stronger
Latin American stocks rose on Wednesday, boosted by solid earnings in Brazil, but a downbeat reading of the U.S. economy by the Federal Reserve cut into gains and spurred losses in Mexico and Chile.In Brazil the strong rates of economic growth have spurred optimism on second-quarter earnings, which are just getting under way.
“With the economic recovery, Brazil has come out of the crisis stronger. Brazilian companies are going to start showing those results now,” said Alvaro Bandeira, director with Agora brokerage in Sao Paulo.Brazil’s Bovespa index .BVSP gained 0.2 percent, led by a 4.51 percent jump in shares of bank Bradesco after its profits beat estimates, helped by growing credit demand and reduced delinquencies.
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Brazilian financial market analysts and economists reduced their estimates for the country’s 2010 IPCA inflation rate for the third consecutive week, according to the Central Bank of Brazil’s market survey published Monday. The average estimate for the 2010 year-end IPCA rate was reduced to 5.35% from 5.42%. Despite the reduction, it is still above the central bank’s inflation forecast of 4.5% for the year.
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"Things are going very quickly", said Lula
Brazilian President Luiz Inacio Lula da Silva signed on Monday a decree raising the level of indebtedness for host cities to ensure the completion of infrastructure works for 2014 World Cup and Rio de Janeiro 2016 Olympic Games.
During the ceremony to launch the decree, the president announced that 3.545 billion will be allocated to upgrade airports and ports in the twelve cities hosting the soccer tournament in 2014.
“Things are going very quickly,” said Lula, countering criticism of his government for delays in works, which he attributed to the “folly” of people who have no patience with the ritual required to put projects into practice.
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"We will invest in the country what was not invested in 30 years"
Brazil’s President Luiz Inacio Lula da Silva said on the weekend that the country’s airports will be ready to answer the demand of the 2014 FIFA World Cup.
The Brazilian president, who met with South Africa’s President Jacob Zuma in Pretoria, said that any worries about Brazil’s infrastructure for the 2014 World Cup are unwarranted.”I think it is inopportune to be worried about the Brazilian infrastructure for the 2014 Cup,” he said. “Thanks to the Growth Acceleration Project (PAC), Brazil will invest some 624 million U. S. dollars. We will invest in the country what was not invested in 30 years.”
President Lula admitted that the transports infrastructure in Brazil needs improving, but assured that everything will be ready by the beginning of the tournament. According to him, the Cup will make people see Brazil with better eyes.
Farmers from Kenya have been increasing the amount of land they dedicate to plants known to be good sources of biofuel.
The Seattle Times has published a very interesting article saying that Brazil, the world’s leading ethanol exporter, will help Kenya produce biodiesel and improve its agriculture sector. According to the article, Kenya is an investment hub that Brazilian companies and entrepreneurs can use to seek business opportunities in the wider East African Community, a five-nation economic bloc of more than 125 million people, Brazil’s President Luis Inacio Lula da Silva said at a news conference with Kenyan President Mwai Kibaki.
Silva’s visit is the first by a Brazilian president to the East African nation. Silva and Kibaki did not give more details about how Brazil will help Kenya develop biodiesel or improve its agriculture. For several years, however, a growing number of Kenyan farmers have been increasing the amount of land they dedicate to plants known to be good sources of biofuel. The production of such fuel remains small scale in Kenya.
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Posted in Brazil and the world, Brazil's Economy, Business
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Tagged biodiesel, Brazil, Brazilian economy, Business in Brazil, developing countries, emerging countries, PR, PR Digital, Public Relations US/Brazil
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Dilma Rousseff and Jose Serra
According to an article published in The Economist, Dilma Rousseff is cruising towards victory on the coat-tails of a popular president. But there is more at stake in October’s election than meets the eye
On July 6th the campaign for October’s general election formally kicks off. It will be the first presidential election since democracy was restored in the 1980s in which the name of Luiz Inácio Lula da Silva does not appear on the ballot. But Lula, Brazil’s president since 2003, is nevertheless the dominant figure in the campaign.
For the past 18 months he has put all his efforts into trying to get Dilma Rousseff, his former chief of staff, elected as his successor. She is not an obvious presidential candidate: an efficient though notoriously bad-tempered administrator, she only joined Lula’s Workers’ Party (PT) in 2001. She has never before stood for elected office. But several more senior figures in the PT were forced out of politics by a corruption scandal during Lula’s first term, and others have proved electoral flops.
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Fitch added that it does not expect any major changes in the country's economic policy after the presidential elections
World-renowned credit rating agency Fitch Ratings announced on Monday the confirmation of Brazil’s investment grade.
Fitch stated that Brazil’s Issuer Default Rating will be maintained at the BBB- level, the lowest investment grade granted by the agency. The country ceiling will remain at the BBB level, and the credit outlook was revised from stable to positive.
The outlook was reviewed due to Brazil’s economic performance and resilience in the face of the recession, which exceeded expectations, Fitch stated.
According to the agency, those aspects, together with Brazil’s “relatively prudent economic policies,” can help improve the country’s per capita income level and fiscal solvency ratio.
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Petrobras is working feverishly to develop the presalt region
Shareholders of Brazilian state-run energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, approved a capital increase Tuesday, clearing the way for what’s expected to be one of the world’s largest-ever share offers.
Shareholders granted the company’s request to increase capital by up to 150 billion Brazilian reals ($84.8 billion) via the sale of up to 3.2 billion common shares and 2.4 billion preferred shares.
Petrobras needs the cash raised from the share sale, which analysts have estimated could be valued at between $50 billion and $60 billion, to pay for the company’s investment plans and rights to produce 5 billion barrels of crude oil from government-held areas in the offshore presalt region.
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