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Qatar’s imports from Brazil grow by 10.6pc to $369m

imports from Australia

DOHA: Exports from Brazil to Arab countries grew significantly in 2014, demonstrating robust bilateral trade relations. According to the most recent figures released by the Arab-Brazilian Chamber of Commerce, the total value of products imported to the Arab World from the South American country touched $13.40bn last year. ‘Aircraft and spacecraft’ emerged as the highlight of the imported products from ... Read More »

Golden ocean posts $135m loss as ship scrapping accelerates


BRASILIA:  During the first six weeks of this year 19 Capesize bulk carriers were committed to scrap buyers, according to data obtained by Golden Ocean Group, the dry bulk arm of Norwegian billionaire John Fredriksen’s shipping empire.  The company notes this is almost half of what was scrapped in total last year in their Q4 earnings.  This year, 27 new ... Read More »

Brazilian ferroalloy exports decline 42% in Jan 2015: MDIC


SAO PAULO: According to latest trade statistics released by Brazil’s Ministry of Development and Foreign Trade (MDIC), the country’s ferroalloy exports declined sharply during the starting month of the New Year. The exports dropped 41.8% to 21,266 mt in January this year when compared with the exports of 36,555 mt during the same month in 2014. Also, the value of ... Read More »

21 HSBC branches closed in Brazil during financial crices


SÃO PAULO: HSBC Holdings PLC closed 21 branches across Brazil last year amid tepid economic activity in the Latin America nation. The Brazilian economy expanded at a rate close to zero last year, according to economists’ projections. “We continued to rationalize our branch network, closing 21 branches in areas with lower growth potential as we concentrated our efforts on city ... Read More »

Brazilian inflation rises 1% monthly as consumer prices increase


BRASILIA:  A recent fuel tax hike likely kept Brazil’s monthly inflation speeding at around the highest rate in more than a decade in early February. Consumer prices as measured by the IPCA-15 index probably rose 1.29 percent in the month to mid-February, up from 1.24 percent in the full month of January, according to the median of 25 estimates. January’s ... Read More »

Brazilian exports UAE up $13.4billion in 2014: ABCC


BRASILIA:  Brazilian exports to Arab countries grew significantly last year, to a total value of $13.4 billion, demonstrating robust bilateral trade relations. The Arab Brazilian Chamber of Commerce said ‘aircraft and spacecraft’ emerged as the highlight of the imported products from Brazil to the region with a dramatic increase of 7,231 per cent from $3 million in 2013 to $227 ... Read More »

Brazil flats maker ‘Usiminas’ exports jump 128,000mt  to 249,000mt in 2014


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Brazil unwinding tax breaks to stop debt: Finance Minister


BRASILIA:  Brazil’s government is unwinding tax breaks as it strives to boost confidence and stop gross debt from expanding, Finance Minister Joaquim Levy said. “A rolling back of some of these tax breaks is kind of overdue,” he said in a presentation to investors in New York. It’s what we’re working to achieve in the next 10 months. That’s the ... Read More »

Brazilian arrested with 2kg cocaine at Brisbane Airport


BRASILIA:  Brisbane customs officers have stopped a Brazilian man allegedly caught smuggling about two kilograms of cocaine into the country. He’s the third Brazilian charged with importing large quantities of the drug in two weeks. Australian Customs and Border Protection Service officers allegedly found the illegal drug when they stopped the 27-year-old at Brisbane International Airport. The alleged seizure came ... Read More »

Brazilian exports to UAE rise 7231% to reach $13.4billion in 2014


Abu Dhabi: Exports from Brazil to Arab countries grew in 2014 to reach $13.4 billion, with aircraft and spacecraft emerging as the highlight of imported products to the region with a 7,231 per cent jump from $3 million in 2013 to $227 million last year. The figures were released by the Arab-Brazilian Chamber of Commerce. The UAE registered a surge ... Read More »

Brazil returns Bulgarian sentenced jail for 10 year in 2kg cocaine smuggling case


SOFIA: Bulgarian Atanas Mitev Atanasov, 44, was sentenced to 10 years in prison on Wednesday by the Larnaca Assize Court after he was found guilty to charges of possession of two kilos of cocaine. Atanasov was arrested on November 23, 2014, when he arrived at the Larnaca airport from Sao Paolo, Brazil, via Dubai. Following a search of his luggage ... Read More »

Brazilian MDIC announces to search new global market to boost exports


BRASILIA:  Brazilian Ministry of Development, Industry and Foreign Trade (MDIC) announced plans to increase the country’s exports, including finding new markets for Brazilian products around the globe. “This is not only the government’s plan,” MDIC Minister Armando Monteiro Neto, was quoted by Agencia Brasil as saying. The MDIC official noted the national export plan is being prepared with the help ... Read More »

$1.2b trade deficit: Brazil seeks to renew auto quota pact with Mexico

A BMW logo is seen on a wheel at the Brussels International Auto Show

MEXICO CITY: Grappling with fragile economic growth, Brazil wants to renew an auto quota pact with Mexico that is set to expire in March, reported Reuters. A treaty between the two nations and auto manufacturers, which sets quotas on how many light vehicles Mexico and Brazil can sell each other, expires in March. Auto trade between the two was then ... Read More »

Brazil’s oil regulator ANP orders Petrobras to avoid any structural changes


RIO DE JANEIRO: Brazil’s oil regulator ANP ordered state-run Petrobras to seal off most access to its damaged offshore oil and natural gas platform so that authorities can conduct a complete investigation, the agency said in a statement. The order prohibits Petroleo Brasileiro SA, as Petrobras is formally known, from making any repairs or structural changes to the damaged areas ... Read More »

Low profits at Brazilian foreign banks likely to hold back expansion plans: Fitch Ratings


RIO DE JANEIRO: Reduced profits from capital market-related activities at the Brazilian subsidiaries of foreign banks are likely to force some banks to hold back any strategic plans for expansion in the country, says Fitch Ratings. Profit reductions reported in 2014 results are reflecting Brazil’s challenging macro environment, which has pared back trading, capital markets issuance, M&A advisory and business ... Read More »

Brazil’s coffee exports rise 6.8% in volume, 53.5% in value in January 2015

Scoop of Java

BRASILIA: Brazil’s coffee exports witnessed 6.8 percent rise in volume and 53.5 percent in value as compared to the same month in 2014, the Brazilian Coffee Exporters Council, or CeCafe, said. World coffee prices increased almost 60 percent, on average, between January 2014 and January 2015. Last month, Brazil exported coffee worth $590 million, the highest price in a month ... Read More »

China data, economic concerns push Brazilian real to weakest level since 2004


SAO PAULO: Disappointing economic data from China and concerns over health of Latin America’s largest economy pushed Brazilian real to its weakest level since late 2004. Other currencies in the region also weakened, while the MSCI Latin American stock index erased the previous session’s gains. The real was trading near the 2.82 per dollar level in the early afternoon after ... Read More »

Analysts revise 2015 GDP estimates of Brazil downward from 0.03% to zero

brazil economy

BRASÍLIA: Brazil’s economy would stall in 2015 with inflation coming in nearly 1 percent above the high end of the government’s range, the Central Bank said. Analysts revised their 2015 gross domestic product (GDP) estimates downward from 0.03 percent to zero in the latest survey released by the Central Bank. The GDP estimate was included in the Boletin Focus, a ... Read More »

UAE exports to Brazil reach $11.22 billion in 2014: ABCC


BRASILIA:  Arab exports to Brazil recorded a substantial increase in 2014 to reach $11.42 billion, according to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC). The key products exported from the region to Brazil comprised plastic, aluminium, organic chemicals, mineral fuel and oil, and fertilisers, it said. The imported products came primarily from Saudi Arabia, Algeria, Morocco, Kuwait and ... Read More »

Exports from Arab World to Brazil reach USD11,427 billion in 2014


ABUJA: Brazil continues to cement its bilateral trade relations with Arab countries as reflected in a surge in exports from the region. According to statistics released by the Arab-Brazilian Chamber of Commerce (ABCC), collective exports from the Arab World to Brazil recorded a substantial increase in 2014 to reach a total of USD 11,427 billion. The key products imported from ... Read More »