Petrobras, Brazil’s state-owned oil and gas giant, announced it has just made two separate discoveries of oil in the Campos basin near the country’s coast, with recoverable reserves of 40 million and 25 million barrels. News of offshore discoveries is now a weekly occurrence as companies like Petrobras and OGX, owned by Brazilian billionaire Eike [...]
Posts from ‘February, 2010’
Brazil is still booming
In its recent The World Economic Outlook, the International Monetary Fund (IMF) revised up global forecasts to near 4% in 2010. According to the report, the global economy, battered by two years of crisis, is recovering faster than previously anticipated, with world growth bouncing back from negative territory in 2009 to a forecast 3.9 percent [...]
Elections in Brazil will be less risky for investors
Less than eight months before what it seems will be one of the most competitive elections Brazil ever had, analysts believe that there are some investment risks to watch in the country this year. Corruption and a period of policy stagnation are two of them. But, they also think that the presidential dispute in October looks [...]
Brazil joins Latin America in support for Argentina over Falklands
About 20 regional leaders at the Rio Group summit in the resort of Cancun, in Mexico, backed Argentina in its escalating row with Britain, after Brazil and Chile pledged their support. Tensions between the former adversaries, who went to war in 1982, rose again last week to their highest level since the conflict, as Argentina [...]
Brazil’s ruling party nominates president Lula’s hand-picked sucessor
The Brazilian ruling party has nominated president Luiz Inácio Lula da Silva hand-picked sucessor and chief of staff as its candidate to replace him in the elections on October 3rd. If elected, Dilma Rousseff (PT), 62-year-old, an economist who has never run for office, would be the first female president. The opinion polls has shown [...]
Another big ethanol deal is under way in Brazil
Major fuel companies are continuing to work on partnerships in Brazil to produce ethanol. Following the recent announcement that Shell and Cosan are in negociations to form a joint venture, ETH Bioenergy, a large Brazilian producer in the country, has just announced it was acquiring its rival Brenco. The merger of the two companies operations is [...]
Carnival: a great success for Rio
Rio de Janeiro registered 10% more Brazilian and Foreign tourists during the carnival than in the same period last year. The estimate is by the Riotur, the municipal organization responsible for promotion of Rio. The city received approximately 730,000 tourists and the occupation rates in its hotel infrastructure was 94%. According to Municipal Tourism Secretary [...]
Brazil inaugurates consulate in NorthWest
Brasília - The Ministry of Extenal Relations of Brazil designated yesterday Mr. Pedro Augusto Leite Costa, a Brazilian entrepreneur of Seattle, Washington, the Honorary Consul of Brazil. Mr. Costa, 53 years old, will work under the jurisdiction of the Brazilian San Francisco’s Consulate and will be responsible for the Brazilian affairs in the state of Washington. Mr. Costa is [...]
Brazil finds out the Food fair, in Dubai
Brazil´s 50 companies are going to participate in Gulfood, a trade fair for the food industry that will be held in Dubai, from the 21st to the 24th. They represent three of the many Brazilian agribusiness sectors – powtry, meet and fruits. : powtry, meet and fruits, which are talking part in the most import fair [...]
Brazil´s grain crop up 7.2% in 2010 from last year
Brazil’s grain crop harvest is expected to reach 143.5 million tons in 2010, up 7.2 percent from 2009, according to an official projection released recently by the Brazilian Institute of Geography and Statistics. According to IBGE data, the harvest expected for this year has the following regional distribution: South Region, 59.4 million metric tons (+13.3%); [...]