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Brazil current account deficit $6.879 billion in February


BRASILIA: Brazil’s current account deficit narrowed in February as the country’s currency weakened sharply and economic growth remained stagnant, central bank data showed. Brazil posted a current account deficit of $6.879 billion in February, less than market expectations for a deficit of $7.7 billion and a gap of $10.654 billion in January. Despite the decline, Brazil’s external deficit remained high ... Read More »

Brazil analysts boost 2015 CPI, Cut GDP for 12th straight week, tightens fiscal policy


BRASILIA: Brazil economists lowered their 2015 growth forecasts and raised their inflation expectations for the 12th straight week, as President Dilma Rousseff’s government tightens fiscal policy to slice the budget deficit. Analysts raised their 2015 inflation estimate to 8.12 percent from 7.93 the prior week, according to the March 20 central bank survey of about 100 analysts published Monday. The ... Read More »

Brazil museum receive 139 works of art seized in petrobras scandal


BRASILIA: A Brazilian museum received 139 works of art, including a painting by Joan Miro, seized from individuals involved in the corruption scandal rocking state oil giant Petrobras. Works by Brazilian artists Djanira and Heitor dos Prazeres were among the trove that police delivered to the Oscar Niemeyer Museum in the city of Curitiba. Local media reported that the majority ... Read More »

Spanish fruits, vegetable strengthening ties with Brazil


SAO PAULO: The production and export of fresh fruits and vegetables at the APAS fair, in Brazil, one of the most important events for the agro-food sector in the American continent, whose 31st edition will take place from 4 to 7 May in São Paulo. The group of Spanish companies will have an area of ​​90 square metres, suitable for ... Read More »

Brazilian soybean exports rise to 7 million tons despite truck strikes


BRASILIA:  Brazil’s soybean exports will likely rise to more than 7 million tonnes in March with little risk of further disruption from truck strikes, analyst Pedro Dejnaka, managing partner of AGR Brasil, told. Truck traffic has been normal and soy stocks have been replenished at Brazilian ports since truck drivers lifted the final roadblocks of a two-week strike last week, ... Read More »

Central Florida business affected due to Brazil economic downturn


ORLANDO: Brazil is a continent away, but the effect of the country’s economy is already having a negative impact on the people and businesses in Central Florida. Aside from the economic downturn and the devaluation of the Brazilian currency, political leaders also are facing a protest Sunday related to the country’s largest corruption scandal. Perfumeland is just one of the ... Read More »

Brazilian beef exporters sue against EU in WTO


BRASILIA: Brazilian meat exporters are considering taking the European Union to the World Trade Organization to challenge restrictions on their beef shipments to one of the world’s top markets, the head of the country’s beef exporters association told. A new dispute could further harm trade ties frayed by an EU case against Brazil over duties on industrial imports and stalled ... Read More »

Brazil, Canada export rises 70.4 and 58.5 million euros to Spain


BRASILIA: The main non-European destinations for Spanish fresh fruit and vegetable exports in 2014 were Brazil and Canada, with 70.4 million and 58.5 million Euro, respectively, and increases of 25% and 165% compared to 2013, according to data from the Directorate General of Customs, of the Ministry of Economy and processed by FEPEX. In terms of volume, Spanish exports to ... Read More »

Bulk volume up 4%: Brazilian iron ore exports effects Baltic dry index


BRASILIA: The Baltic Dry Index started 2014 on a positive note. It concluded at its lowest level of 782. Navios Maritime Holdings’ (NM) management commented that despite the dry bulk volume exceeding 4% during the year, some major variables helped drive the downward trend. Supply chains ran very efficiently with little to no congestion. Robust fleet expansion and a slowdown ... Read More »

$10,000 of cash seized from Brazilian Ex-Billionaire Batista


BRASILIA: More than $10,000 of cash confiscated from ex-billionaire Eike Batista as part of an insider trading case is missing, the latest twist in a case where a judge has come under criminal investigation after driving one of the ex-billionaire’s luxury cars. Officials detected that 27,000 reais ($8,639), $443 and 1,000 euros ($1,083) seized from Batista last month are gone, ... Read More »

Brazil, Mexico agree to extend auto trade agreement up to $1.56 billion


SÃO PAULO: Brazil and Mexico said they renewed vehicle quotas for four years, delaying the implementation of a free-trade agreement between the two countries. The countries had allowed free trade in vehicles from mid-2011 to early 2012, then switched to the quota system after Brazil complained that the strengthening of the Brazilian real over the previous decade had made its ... Read More »

Brazilian labour block ports as protest against hike in fuel prices, taxes


BRASLIA: The trouble has been ongoing for the past few days, beginning as an isolated protest over rising fuel prices, tolls and taxes and a new regulation which aims to limit their working hours per day. But, the problem has spread and is now affecting ports in central and southern states, including Rio Grande do Sul, Parana, Santa Catarina, Mato ... Read More »

Inflation threat: Brazil raises interest rates to 12.75% to curb prices


BRASILIA:  Inflation in Brazil, Latin America’s largest economy, was at a 12-year high in February of 7.4%. The government’s target is 6.5%. Brazil’s economy had been one of the world’s fastest growing, but looks to have stalled in 2014. Economists are now predicting that the economy will contract by more than 0.5% this year. In a statement, Brazil’s central bank ... Read More »

Alert police seize 6.4kg cocaine smuggling from Brazil to Vietnam


BRASILIA:  An alert policeman discovered 6.4kg hidden of cocaine in women’s handbags transported by a passenger transiting Dubai between Brazil and Vietnam, the Dubai Criminal Court heard. On October 30 at around 11.30, transit passenger RS, 39 Filipino, arrived from Brazil. First Corporal Ali Sultan, who was on duty in the transit hall of Dubai International Airport Terminal 3,  suspected ... Read More »

Brazil trade deficit widen $ 2.821 billion in February


SAO PAULO: In February, the trade deficit from early this year has compounded further. According to data released by the Brazilian Ministry of Development, Industry and Foreign Trade, in Brasília, imports overcame exports by US$ 2.842 billion last month. In January, the deficit had been US$ 3.174 billion. A year earlier, in February 2014, a US$ 2.821 billion deficit was ... Read More »

Brazil faces $2.8 billion trade deficit in February, $3.2 billion in January


SAO PAULO:  Brazil posted a trade deficit of $2.8bn in February, lower than the deficit of $3.2 billion in January but higher than the deficit of $2.1 billion in February 2014. The 12-month trade balance went from a deficit of $3.0 billion in January to a deficit of $3.7 billion in February. Exports fell to $12.1 billion in February compared ... Read More »

Iran, Brazil joint chamber of commerce to open Tehran office in next Iranian year         


TEHRAN: The Iran and Brazil Joint Chamber of Commerce will open an office in Tehran in the first month of the next Iranian calendar year (March 21-April 20). The chamber of commerce’s office in Brasilia is already active with 170 members, according to Iran-Brazil Joint Chamber of Commerce Chairman Seyed Fakhreddin Amerian. Annual trade between Iran and Brazil is currently ... Read More »

Brazilian top soft drink bottler Coca-Cola FEMSA planning to rise invests up to $200M

coca cola

BRASILIA:  Mexico’s Coca-Cola FEMSA is looking to move forward with a $200 million investment to increase operations in Brazil. Coca-Cola FEMSA is already Brazil’s top soft drink bottler. Fox News Latino reports the investment will be dedicated to “logistics, new production lines, plant automation and expanded distribution in Minas Gerais and Parana, the states where its operations are concentrated.” This ... Read More »

HIA to control air freight network with new full-freighter service to Brazil


BRASILIA:  A major air cargo carrier at Huntsville International Airport says it is expanding its controlled air freight network with a new full-freighter service to Brazil. In addition to scheduled charter flights from Hong Kong to Huntsville, Panalpina announced Thursday it will run flights from Huntsville to São Paulo, Brazil, as a result of a renewed long-term agreement between the ... Read More »

Brazil’s federal tax revenues down 5.44 % to reach 125.282 billion in January: Tax agency


BRASILIA:  Brazil’s federal tax revenues reached 125.282 billion raise ($43.73 billion) in January, down 5.44 percent in real terms when compared to the same month last year, the country’s tax agency said. Although Brazil collected 123.667 billion reais in federal tax revenues in January last year inflation has remained stubbornly high, climbing to 7.14 percent last month. Federal tax revenues ... Read More »