President Dilma Rousseff recently created diesel fuel taxes to help the government in Brazil shore up their fiscal accounts. This has caused fuel prices to skyrocket where most places around the world are actually experiencing lower than normal fuel. The diesel tax took effect on February 1, making a gallon of gas reach $4.15. Brazilian…
According to Reuters, “Output at factories and mines rose a seasonally adjusted 0.7 percent in July from June, statistics agency IBGE said on Tuesday. That surpassed expectations of a 0.5 percent increase forecast, according to a Reuters survey of 20 analysts. Industrial production had fallen 1.4 percent in June from May, partly due to the…
According to Bloomberg News, “Production in Brazil, the world’s top grower, may drop as much as 18 percent to 40.1 million bags when the harvest ends next month, the National Coffee Council estimates, after a 3.1 percent slide last year. With damage worsening before the start of spring in the Southern Hemisphere, the council said…
According to the BBC, “Food prices are rising in parts of Russia and experts say the state embargo on imports of Western food appears to be making things worse. Since the ban was imposed on Aug. 7 imported pork used in processed meat in Moscow has gone up by 6 percent.”
According to NASDAQ, “CEO Mary Barra said General Motors will invest $2.8 billion in Brazil over the next five years. Speaking to reporters in Brasilia after meeting President Dilma Rousseff, Barra said the new investment will [be] spent on new products, technology and maintaining plants. She said there were some mid-term challenges ahead, but that…
According to Bloomberg, “Monsanto Co., the world’s largest seed company, is offering Brazilian farmers a 16 percent discount on its newest genetically modified soybeans if they drop claims that patents on older beans expired years ago. Monsanto’s insect-fighting Intacta soy went on sale today in Brazil for 115 reais ($51.23) per hectare, the St. Louis-based…
China, Brazil and Peru could soon work together to build a railway transportation system. Talks of the system, which will run from the Peruvian Pacific coast to the Brazilian Atlantic coast, concluded on July 23 after a visit that involved the signing of multiple trade-related deals.
According to Reuters, “Bandits attacked a Samsung Electronics Co Ltd factory near Sao Paulo late Sunday and held workers hostage while they robbed truckloads of smartphones, tablets and notebook computers.”
According to Fifa.com, “Nine days ahead of the Opening Game of the 2014 FIFA World Cup™, FIFA and its Partner Hyundai/Kia staged a ceremony at the Arena de Sao Paulo where a dedicated transportation fleet of over one thousand vehicles was ceremonially handed over for usage during the event.”
Brazil’s manufacturing and service sectors take a hit as the April PMI shows the country dropped in its service sector. Reuters notes, “Growth in Brazil’s services sector slowed in April as business sentiment soured, a survey showed on Tuesday, suggesting companies increasingly expect little of the windfall they once hoped would come with hosting the…