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Brazil launches revolutionary plan to float solar panels at hydroelectric dam

solar power

BRASÍLIA: Brazil has decided to place thousands of floating solar panels on a reservoir that was created by one of the country’s most notorious dams. The renewable power project, which is located deep in the Amazon rainforest, could eventually generate enough electricity to power hundreds of thousands of homes. It’s technology could be replicated in other parts of the world with ... Read More »

Brazil central bank window to lower inflation outlook


BRASÍLIA: Brazilian Central Bank Director Tony Volpon said on Thursday that weaker global growth had given the bank an opportunity to act decisively in bringing down inflation expectations, according to a presentation posted to the central bank website. Read More »

Dubai firm mulls plan for halal food factory in Brazil


DUBAI: Dubai-based Al Islami Foods is planning to open an office in Sao Paulo as it looks to expand its operations in Brazil, it has been reported. The company, which in 2014 said it was looking to create 1,000 new jobs with a factory in Dubai which will triple production levels, is also considering opening a poultry processing plant in ... Read More »

Brazil iron ore export volumes surge in Jan

Bolivia iron ore mine

BRASÍLIA: The most recent statistics released by Brazil’s Secretary of Foreign Trade (Secex) indicates significant rise in iron ore exports by the country during the month of January 2016. Brazil’s iron ore exports during Jan ’16 totaled 25.037 million tons, up by 7.4% when compared with the same month previous year. The country’s iron ore exports had totaled 23.311 million ... Read More »

Brazil’s national jobless rate ends 2015 at 9.0%, wages drop


BRASÍLIA: Brazil’s national unemployment rate remained at 9.0 percent in the three months through December, statistics agency IBGE said on Tuesday, unchanged from November and slightly below market expectations in a Reuters poll. The median forecast of 16 economists surveyed by Reuters projected the unemployment rate at 9.1 percent in the fourth quarter. Brazil’s jobless rate rose sharply from 6.5 percent ... Read More »

Brazil’s economic activity unexpectedly shrinks in Jan


BRASÍLIA: Brazil’s economic activity unexpectedly contracted in the beginning of 2016 and economists forecast a deeper recession for this year as a political stalemate nearly paralyzes the country. The central bank’s IBC-BR index, which is often taken as a proxy for Brazil’s GDP report, shrank 0.61 percent in January, more than forecast by all 25 economists surveyed by Bloomberg, whose ... Read More »

Scomi Engineering building RM57m manufacturing plant in Brazil


KUALA LUMPUR: Scomi Engineering Bhd’s (SEB) manufacturing facility in Sao Paulo, Brazil, to be modelled after its main facility in Kuala Lumpur, is expected to strengthen the group’s position in the market. The 50 million real (RM56.8mil) facility, to be built on a 98,000-sq-m site, will be used to manufacture monorail trains, including rolling stock and bogies. The site was awarded ... Read More »

Brazil exports 2.5 mln bags green coffee in Feb

green coffee

SAO PAULO: Brazil exported 2.5 million bags of green coffee in February, up 1 percent from the same month a year ago and little changed from January exports, the coffee exporters association Cecafe said on Thursday. Arabica accounted for 2.43 million 60-kg bags of last month’s exports, which were up 9 percent from a year ago, while robusta beans accounted ... Read More »

Brazil’s inflation slows in Feb


SÃO PAULO: Brazil’s consumer-price index slowed in February, providing relief for the country’s central bank amid its efforts to curb inflationary pressures. Brazil’s consumer-price index, the IPCA, rose 0.90% in February, compared with an increase of 1.27% in January, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. The monthly inflation data came below economists’ expectations, which called for an ... Read More »

Brazil iron ore exports surges 29% in Feb

Bolivia iron ore mine

BRASÍLIA: The most recent statistics released by Brazil’s Secretary of Foreign Trade (Secex) indicates significant rise in iron ore exports by the country during the month of February 2016. Brazil’s iron ore exports during Feb ’16 totaled 27.447 million tons, up by 29% when compared with the previous month. The country’s iron ore exports had totaled 21.277 million tons during ... Read More »

Brazilian exports of long steel double in Feb

Cold drawn steel bars are pictured at a production line at 'Schmolz + Bickenbach' group in Duesseldorf March 12, 2008. 'Schmolz + Bickenbach' group one of the world's largest manufacturers, processors and distributors of special steel long products.  REUTERS/Ina Fassbender (GERMANY)

BRASÍLIA: Brazil shipped 52,430 mt of carbon long steel products in February, more than the double the 22,186 mt shipped in the year-ago period, according to trade ministry data released Wednesday. The overall sales value followed the trend, rising 73.9% in a year-over-year comparison to $26.14 million FOB from $15.03 million FOB. Rebar contributed 34,817 mt to the longs shipments ... Read More »

Brazil exports of wood products drop 6.6% in Jan


BRASÍLIA: In January 2016, Brazilian exports of wood-based products (except pulp and paper) declined 6.6% in value compared to January 2015, from US$187.5 million to US$175.2 million. However, Brazil’s pine sawnwood exports increased 13.5% between January 2015 (US$17.8 million) and January 2016 (US$20.2 million). In terms of volume, exports increased 33.5% year on year in January from 76,400 cu.m to ... Read More »

Brazil corn exports increase 388% in Feb


BRASÍLIA: In February, Brazil recorded corn exports of 5.37 million tons. According to data from the Ministry of Development, Industry and Foreign Trade, this is almost five times higher than exports for February 2015, which stood at 1.10 million tons. These exports produced revenue of $892.2 million, compared with $206.4 million in February last year. According to Lucilio Alves, a ... Read More »

Iranian airline to import 20 airplanes from Brazil

import duty

BRASÍLIA: Iranian Zagros Airlines has reached preliminary agreements with a Brazilian company to import 20 airplanes. “Our recent talks with Brazil’s Embraer have led to positive results,” Zagros Airlines CEO Hushang Seddiq said, Eranico news agency reported March 7. Iran’s aviation has gone decrepit under sanctions, with airplanes’ age averaging 25 and many bitter accidents in the past few years. “Zagros ... Read More »

Brazil’s economy shrinks 3.8% in 2015

economy logo

BRASÍLIA: Brazil’s GDP fared worse than almost any other major economy in 2015, contracting by 3.8%, according to the national statistics agency IBGE. Economic growth in the world’s seventh-largest economy has fallen sharply in recent months. This was due partly to low commodity prices and sluggish global growth. But political paralysis has hampered Brazil’s efforts to tackle its economic problems, including ... Read More »

Brazil posts trade surplus in Feb


BRASÍLIA: Brazil mainly exports commodities such as iron-ore, soybeans, oranges, sugar and meat. The recent decline in global commodity prices hurt trade, but a sharp fall in imports more than offset that factor on the overall trade balance. Brazilians are buying less from abroad as a result of the currency’s sharp depreciation. The Brazilian real weakened around 40% over the ... Read More »

Brazil’s manufacturing extends slump in Feb


BRASÍLIA: Brazil’s manufacturing downturn accelerated in February as higher inflation increased costs across the production chain, a private survey showed on Tuesday, suggesting the country’s recession continued to worsen in the first months of 2016. The Purchasing Managers’ Index BRPMIM=ECI compiled by research firm Markit fell to a seasonally adjusted 44.5 in February, a three-month low, from 47.4 in January. ... Read More »

Brazil’s economy expects to contract 3.45%


BRASÍLIA: Analysts expect Brazil’s economy to contract by 3.45 percent this year, the Central Bank said Monday. Last week, analysts said they expected Brazil’s economy to contract by 3.40 percent this year. The gross domestic product (GDP) figures come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of ... Read More »

Brazil tax agency alleges fraud in 2009 JBS-Bertin merger


BRASÍLIA: Brazilian tax authorities allege that the 2009 merger of JBS SA and the Bertin Group, which created the world’s largest meatpacker, involved fraud that harmed minority shareholders, the Estado de S. Paulo newspaper reported on Sunday. The allegations stem from a tax investigation of companies in the Bertin Group and have already resulted in an assessment of 3 billion ... Read More »

Brazil to tender $477 mln port terminal concessions


BRASÍLIA: Brazilian ports minister Helder Barbalho announced that the country’s special ports department, SEP, will launch port terminal concession tenders on March 31 which call for a total of 1.77bn reais (US$477mn) in investments. Approximately 1.46bn reais will be invested at new terminal facilities and some 203mn reais will be needed to pay leasing fees to state port authorities during the ... Read More »