News on Brazil

Aug
19
2008

Brazilian Oil Reserves Could Hold Up To 55 Billion Barrels

Brazil is on the verge of reinforcing its position as one of the world's key energy suppliers, an expert has claimed. Leading geologist Marcio Melo has indicated that there could be as much as 55 billion barrels of oil in the country's offshore reserves. This has come in the wake of several new oil discoveries made in the waters of Rio de Janeiro state.

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Aug
14
2008

Wal-Mart to make $1 Billion Expansion in Brazil

On Wednesday the CEO of Wal-Mart's America Division, Craig Herkert, met with Brazilian President Luiz Inacio Lula da Silva in Brasilia to discuss plans to expand operations in Brazil. With already 318 stores in the South American country, Wal-Mart plans to invest at least $1 billion, opening 80 to 90 new stores.

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Aug
13
2008

Dispute Raises Doubts over Brazil's Amazon Dams

Much to the dismay of environmentalists, the Brazilian government has approved the $13 billion construction of two dams in the Amazon. The projects are expected to create a passage that will reduce transport expenses for exports to Bolivia and Peru as well as prevent power shortages. Those opposed to the project claim that 494,200 acres of the Amazon will flood as a result of the new dams, causing a devastating change to the ecosystem.

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Aug
12
2008

World Congress III against Sexual Exploitation of Children and Adolescents to be Held in Brazil

The Third World Congress against Sexual Exploitation of Children and Adolescents will take place in Rio de Janeiro, Brazil, on the 25-28 of November, under the auspices of ECPAT. It has been announced that over 300 children and adolescents that are at-risk or survivors of sexual exploitation, half from Brazil, will attend the Congress in order to identify and find solutions to the problems of child trafficking, prostitution, pornography and abuse.

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Aug
11
2008

Brazil Becomes the World's 6th Largest Car Maker

During the first half of this year Brazil became the 6th largest car maker in the world, in terms of units produced. Brazil joined Japan, China, USA, Germany and Korea in the top 6, leaving France and Spain behind.

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Aug
06
2008

Some 3 Million Brazilians Shake off Poverty in Past 6 Years

A study released on Tuesday by Brazil's Applied Economic Research Institute (IPEA) shows a 26.5% decrease in poverty over the past 6 years. Currently, Brazil's poor population is 11.3 million citizens compared with 14.3 million in 2002. IPEA president says that the changes are result of economic growth, a rising minimum wage, policies to encourage family farming and governmental social programs.

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Aug
05
2008

Toyota to Build Ethanol Mill in Brazil

Toyota Tsusho Corporation is teaming up with Brazil's state-run energy company, Petrobras, to build an ethanol plant in Goias. By 2012, Petrobras hopes to export 4.7 billion liters of ethanol. While plans have not yet been confirmed, Toyota has reportedly signed a letter of intent; its investment amount will depend on Brazil's infrastructure.

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Aug
04
2008

Lula Calls for Closer Ties between Brazil & Argentina

Accompanied by 300 Brazilian business leaders, Brazilian President Luiz Inacio Lula da Silva arrived in Buenos Aires to discuss the need for a tighter bond with neighboring country Argentina. Argentina and Brazilian trade is expected to increase by $5.2 billion this year. There are even future hopes that the two most economically powerful South American countries may one day share the same currency.

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Aug
04
2008

Brazil's Shoe Industry Goes in Fast-Forward Mode to Face the Chinese

Brazil's shoe industry is vital to Brazil's economy, catering not only to Brazilians but also to its South American neighbors, with over 77 million pairs of shoes produced each year by 20,000 workers in over 1,000 different companies. However, China is moving in and Brazilian businesses are being forced to restructure.

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Jul
30
2008

Amazon Burns a New York City of Trees in a Month

A new report from the Brazilian National Institute for Space Research shows that in June deforestation of the Amazon totaled an area bigger than New York City. This is a decrease of 20% from May which recorded 423.17 square miles of deforestation.

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