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News & Articles

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03/18/08 Brazil Real Estate: Having a Ball

Real estate loans in Brazil have nearly quadrupled the past three years. And the sector should continue growing at strong levels. Mauro Costa no longer lives in a rented apartment on the periphery of Sao Paulo. He is one of the...

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03/14/08 Brazilian Development Bank loaned US$ 39.6 billion in 12 months

The Brazilian Development Bank (BNDES) announced today (13th) that it spent 66.6 billion reals (US$ 39.6 billion) on financing in the last 12-month period ending in February, a record-high value 21% higher than recorded in the...

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03/12/08 Brazil Fourth-Quarter GDP Expands Greater-Than-Expected-6.2%

Brazil's economy expanded a greater-than-expected 6.2 percent in the fourth quarter, the fastest year-on-year quarterly expansion since June 2004. Gross domestic product rose more than the median 5.6 percent forecast in a...

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03/12/08 Brazil May Ease Regulations for Exporters' Earnings

Brazil may allow exporters to keep more of their dollar-denominated earnings overseas in a bid to slow the appreciation of the real against the U.S. currency, Finance Minister Guido Mantega said. The regulations, which were...

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03/11/08 Brazilian mining to receive US$ 32 billion

The mining industry in Brazil plans to invest US$ 32 billion by 2011, according to forecasts by the Brazilian Mining Institute. Of this total, US$ 14 billion should be sent to the iron ore sector. The heated domestic and foreign...

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03/11/08 Automakers plan to invest US$4.9 billion in Brazil in 2008

Automobile manufacturers in Brazil will invest US$4.9 billion (€3.19 billion) in 2008, more than double what was invested in 2007, a manfacturing association said Monday. According to the Brazilian Motor Vehicle Manufacturers...

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03/10/08 Brazilian officials optimistic in spite of US recession

 Brazil economy grew more than 5% in 2007 on high global demand for agricultural products, ethanol and iron ore and a booming domestic market, Finance Minister Guido Mantega said Friday in a press conference.President Lula da...

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03/10/08 Brazil Economy Expanded Above 5 Percent, Mantega Says

Brazil's economy probably expanded more than 5 percent in 2007, indicating it remained unscathed by the global credit rout that has affected economies worldwide, Finance Minister Guido Mantega said. Economic growth in Brazil was...

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03/06/08 Officials lament U.S.-Brazil ethanol cooperation

It's been a year since the U.S. and Brazil agreed to share biofuel technology. Little has happened since, said a panel at WIREC. In March of 2007, U.S. President George Bush and Brazilian President Lula da Silva announced they...

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03/03/08 Buffet's Brazilian windfall

Berkshire Hathaway has made billions betting against the dollar -- most recently with a $100 million gain from the growth of the Brazilian real. A surprising bet on Brazil's currency made Berkshire Hathaway shareholders some real...

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03/03/08 Brazil raises minimum wage by 9 pct

Brazil raised its minimum wage by 9.2 percent Saturday to 415 reals (US$248; €163) a month, boosting millions of salaries and pensions based on multiples of the base salary. The increase from 380 reals (US$226.80; €149.30) was...

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02/29/08 Brazil moves to top of emerging market index

Brazil has become the world’s biggest emerging market, displacing China, according to a key market index. The South American country’s climb to the top of the index prepared by Morgan Stanley Capital International will have a big...

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02/28/08 Brazil posts record Jan primary budget surplus

Brazil's consolidated primary budget surplus rose to the highest on record for the month of January, lifted by a surge in tax revenue, but the central bank said on Wednesday the "exceptional" results are unlikely to last long....

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02/25/08 Banking services transforming Brazil

For decades, Brazilians had so little faith in their banks that they kept most of their money at home and paid for appliances, cars and even houses in lump sums. Financial tools that Americans take for granted, such as credit...

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02/25/08 Brazil's Real Rises on U.S. Banks' Plan to Reduce Foreclosures

Brazil's real rose for a second straight day on speculation a plan by U.S. banks to reduce mortgage defaults will help the world's largest economy and maintain demand for higher-yielding, emerging-market assets. The real...

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02/25/08 Brazil's Real Rises on Inflows, Matching Rally in December 2006

Brazil's real rose for a sixth straight day, matching a rally in December 2006, on bets dollar flows into local markets will keep increasing. ``People are betting that the strong investment flows we've seen will continue,'' said...

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02/22/08 Brazil Became Net Creditor for First Time in January

Brazil, the world's largest emerging-market debtor for decades, became a net foreign creditor for the first time in January. International reserves, swelled by investment inflows and record exports of agricultural commodities...

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02/20/08 Brazilian exchanges initiate merger talks

Brazil's BM&F SA (BMEF3.BR), the local commodities and futures exchange, and Bovespa Holding SA (BOVH3.BR), the publicly traded company that owns and manages the Brazilian Stock Exchange, announced late Tuesday that they...

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02/19/08 Brazilian miner Vale confirms iron-ore price deal

 Brazilian mining giant Companhia Vale do Rio Doce (RIO: 33.71, +1.68, +5.3%) , or Vale, confirmed Monday that it reached an agreement on 2008 iron ore price contracts with several Asian steelmakers. The world's largest producer...

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02/15/08 Brazil's Petrobras To Build Large New Biodiesel Plant - Valor

State-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, will build a large new biodiesel plant that make it Brazil's leading biodiesel producer, the Valor newspaper said Thursday. The new plant to be built in Brazil's...

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