October 2008

In Havana, Brazilian President Signs Pact to Explore Oil Off Cuba

Lula and Raul Castro Brazilian President, Luiz Inácio Lula da Silva, is in Cuba with a busy agenda, which  includes among other things visits to areas ravaged by recent hurricanes and the signing of an agreement between state-controlled oil multinational Petrobras and the Cuban state owned company, Cubapetroleo (Cupet).

Brazilian Journalist Beaten Up for Reporting on Corruption

Folha de S. Paulo front page Abraji, the Brazilian Association for Investigative Journalism and the Rio Grande do Sul State Professional Newspersons' Union have both condemned the aggression suffered by Graciliano Rocha, a correspondent for the Brazilian newspaper Folha de S. Paulo in the city of Porto Alegre, capital of the southernmost Brazilian state of Rio Grande do Sul.

Brazil Leaves Key Interest Rate Alone at a Steep 13.75%

Brazil's stock exchange, Bovespa Brazil's Monetary Policy Committee (Copom) decided to keep, this Wednesday, October 29, the Selic, the country's key interest rate. at 13.75%. It was a hard call for the committee, which had to balance a sputtering economy due to the global financial crisis and the inflationary pressure brought up by a rising dollar.

Brazil's Foreign Exchange Deficit Over US$ 4 Billion This Month

US dollar The balance of dollar inflow and outflow in the country until the 24th this month, after 18 business days, was negative by US$ 4.397 billion. The exchange flow figures were disclosed today by the Central Bank of Brazil. During the same period in 2007, the exchange flow was positive by US$ 3.365 billion.

Brazil Looks for Fertilizer in the Middle East

Fertilizer in Brazil Benedito Rosa do Espírito Santo, the director of the Commercial Affairs Department at the Brazilian Ministry of Agriculture,  traveled to Jordan and Egypt and made contacts with Brazilian producers of fertilizers who may generate new agreements for supply of Brazilian products. The ministry hopes that a trade delegation in the field may visit both countries still this year.

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