Archive for 'Economy'
Brazil to Bail Out Citibank Posted by Rachel on Jun 23, 2009
At a press conference in Sao Paulo this week, Citibank CEO Vikram Pandit announced that the bank is putting its hopes on developing economies like Brazil to boost the company after billion dollar losses. After the credit crisis in the United States, Citibank hopes economies like Brazil’s will provide much needed growth. Brazil has the…
BRIC Countries Meet in Russia Posted by Rachel on Jun 17, 2009
This week, the countries that make up the BRIC group–Brazil, Russia, India, and China–are meeting in Russia for the first formal BRIC gathering. These four countries include 15% of the world’s economy and 40% of the world’s currency reserves, and are becoming increasingly more important in the international scene. The BRIC countries’ leaders will discuss…
Major Brazilian Retail Merger Announced Posted by Rachel on Jun 9, 2009
This week, the Brazilian retailer group CBD, which owns the Pao de Acucar supermarket chain, announced that it would buy electronics and home appliance store chain Ponto Frio. The merger makes Pao de Acucar the largest retail chain in the country, with annual sales estimated at 26 billion reais, overtaking the previous leader, French retail…
Brazil Strengthens Ties with Saudis Posted by Rachel on May 19, 2009
President Lula Inacio da Silva made a historic visit to Saudi Arabia this week, the first of its kind for a Brazilian president. He met with King Abdullah, as well as Abdurrahman al-Attiyah, the secretary general of the Gulf Cooperation Council. President Lula went with Brazilian businessmen, but also discussed political and cultural ties. Officially…
Brazil Economic News Posted by Rachel on May 5, 2009
Let’s take a look at some of the headlines about the Brazilian economy, which seems to be doing well despite the crisis: Brazil April Trade Surplus Widens to $3.71 Billion, Wall Street Journal Brazil’s GDP May Shrink Less Than Previously Forecast, Bloomberg Bradesco Earnings Drop 18% in Q1, Business News Americas Brazil Stocks Up More…
Brazil in the News Posted by Rachel on Apr 20, 2009
Today we’re going to look at the headlines to see the latest in Brazilian news. Brazil’s high tech hub grows in Sao Paulo’s Brooklin, CNN Latin America urged against protectionism, Reuters Region’s poverty poses challenge for World Economic Forum, WSJ Rio Olympic bid focuses on atmosphere, emerging economy, Chicago Tribune Brazil sees reason for hope…
World Economic Forum Kicks Off in Rio Posted by Rachel on Apr 14, 2009
Rio de Janeiro will host the World Economic Forum on Latin America from April 14 – 16, which will gather CEOs, executives, and businessmen to discuss integrating regional economies, addressing the economic crisis, economic policies, and environmental friendly business solutions. The co-chairs of the event include executives from KPMG International, Lloyd’s, and Banco Itaú Unibanco…