BRASILIA (Reuters) – Leaders of South America’s Mercosur trade bloc gathered on Friday to consider adding two left-leaning governments to its ranks, but the meeting was overshadowed by growing protectionism and an undeclared trade war between Brazil and Argentina that threatens to rip the group apart.
Brazil’s exports to Argentina have dropped by a fifth this year, causing friction between Mercosur’s two biggest members. Combined with internal struggles, the rift is cited by some analysts as evidence of a broader, worrying move away from trade integration by some emerging markets.
BRASILIA (Reuters) – Brazil’s government on Thursday unveiled a $26 billion public-private drive to modernize clogged sea ports, whose high costs and notorious delays are eroding the country’s competitive edge as a major commodities exporter.
President Dilma Rousseff said she was counting on an “explosion” of private investment to supplement an unspecified amount of government funds. The $26-billion (54.2-billion-real) program extends efforts by to reduce the drag on economic growth of crowded highways, decaying bridges, a rickety electric grid and other over-stretched infrastructure.
BRASILIA, Dec 6 (Reuters) – Brazil’s government said it was
counting on an “explosion” of private investment to help
modernize the country’s clogged sea ports whose high costs and
notorious delays are shredding its competitive edge as a major
President Dilma Rousseff launched a $26 billion (54.2
billion reais) program to overhaul and expand the ports as part
of efforts to upgrade Brazil’s decrepit infrastructure that is
strangling growth in the once-booming emerging market.
BRASILIA/CARACAS (Reuters) – Venezuelan President Hugo Chavez looked set to miss a regional trade summit in Brazil on Friday, officials said, an absence bound to heighten speculation over the leftist leader’s health.
Before he went to Cuba last week for more cancer-related treatment, Chavez had enthused about attending the Mercosur bloc’s meeting in Brasilia to celebrate Venezuela’s entry.
BRASILIA, Dec 5 (Reuters) – President Dilma Rousseff
announced on Wednesday the extension of a government lending
program to boost purchases of capital goods, telling business
leaders Brazil must increase industrial investment if it is to
restore vigorous economic growth.
The world’s sixth-largest economy grew much less than
expected in the third quarter, despite a barrage of tax breaks
and other stimulus measures taken by Rousseff this year.
BRASILIA (Reuters) – Brazil’s government on Tuesday extended tax breaks to the country’s construction industry in a new effort to encourage investment and boost flagging growth in the world’s sixth-largest economy.
The Brazilian economy grew much less than expected in the third quarter, surprising economists and policymakers alike and putting pressure on the government to widen a barrage of stimulus measures it launched this year.
BRASILIA, Nov 30 (Reuters) – President Dilma Rousseff on
Friday vetoed parts of a controversial royalties bill that pit
Brazil’s oil-producing states against the rest of the country in
a battle over future oil wealth.
Seeking a compromise on perhaps the most divisive issues to
arise during her nearly two-year-old presidency, Rousseff vetoed
clauses that would slash income for Brazil’s main oil states,
including Rio de Janeiro.
BRASILIA, Nov 27 (Reuters) – Brazilian President Dilma
Rousseff is scrambling to contain fallout from a corruption
scandal involving government officials linked to her mentor and
predecessor Luiz Inacio Lula da Silva that has given her
political opponents fresh ammunition.
The new scandal, which comes two weeks after the conviction
of top Lula aides in Brazil’s biggest-ever political corruption
trial, could delay government decisions over airport upgrades
and other infrastructure projects that are badly needed to make
the world’s sixth-largest economy more efficient.
BRASILIA, Nov 24 (Reuters) – Brazilian President Dilma
Rousseff, moving quickly to nip a new scandal in the bud,
ordered the dismissal on Saturday of government officials
allegedly involved in a bribery ring, including the country’s
deputy attorney general.
Federal police raided government offices in Brasilia and Sao
Paulo on Friday and arrested six people for running an influence
peddling ring that sold government approvals to businessmen in
return for bribes.
BRASILIA, Nov 1 (Reuters) – As the biggest corruption trial
in Brazilian history comes to an end with convictions of
once-powerful politicians, at least one hero has emerged from
the mess — the first black member of the country’s Supreme
People stop Justice Joaquim Barbosa in the street to thank
him. Revelers in Rio de Janeiro have been buying Barbosa
carnival masks and wearing them in demonstrations. His childhood
picture recently graced the cover of the country’s biggest
newsweekly with the caption “The Poor Boy Who Changed Brazil.”s