Archive for 'Economy'
Brazil Least Affected by Crisis Posted by Rachel on Jan 16, 2009
The Organization for Economic Cooperation and Development (OECD) released a report recently indicating that Brazil is the country least affected by the worldwide economic crisis. The OECD uses an index based on the number 100: countries with indexes below 100 that are contracting are considered countries in a slowdown, while countries with indexes below 100…
Azul Airlines Takes Off Posted by Rachel on Dec 16, 2008
American businessman David Neeleman, the founder of JetBlue Airlines, launched his brand new Brazilian airline yesterday, Azul Linhas Aéreas Brasileiras SA. The airline began flights from Salvador, Bahia; Campinas, São Paulo; and Porto Alegre, Rio Grande do Sul. Next month, two more cities will be added: Vitória, in Espirito Santo, and Curitiba, in Paraná. In…
The Brazilian Super Rich Posted by Rachel on Dec 2, 2008
Even though the economic crisis has shaken the United States and countries around the world, the upper crust of Brazilian society appears to be worry-free. The luxury goods market, known as the triple-A market in Brazil, grew 17% in 2007, and typically moves US$4,500,000,000 each year. In fact, in the past two years, the number…
A Brief History of Brazilian Currency Posted by Rachel on Nov 13, 2008
Today we’re going to look at the many changes Brazilian currency has undergone throughout history. To understand the difference in value of each currency, see here. Until recently, the Brazilian economy was quite unstable and inflation was often quite high, and as a result the currency changed many times. You’ll note that some of the…
Major Brazilian Bank Merger Posted by Rachel on Nov 5, 2008
This week, two Brazilian banks announced a major merge between Unibanco and Itau, which would form the largest private-sector bank in the Americas with combined assets of nearly US$262 billion and a market value of US$41.3 billion. The goal of the merger is to create stability in an uncertain financial environment and for the new…
Foreign Business in Brazil: Part II Posted by Rachel on Oct 22, 2008
Expat American engineer Hunter Hagewood lives in Brazil where he works for a major IT company, Nevoa Networks. But you won’t find him in Rio or São Paulo, but rather in a more unlikely place: Campina Grande, Paraíba, in the sertão (desert) region of the Northeast. At only 33 years old, Hunter helps run a…
Foreign Business in Brazil: New Series Posted by Rachel on Oct 15, 2008
This is the first of a new series about foreigners doing business in Brazil, since the economy has grown and diversified in the last few years. Today we’re going to look at James Crane-Baker, the founder and CEO of a start-up based in Rio de Janeiro. After working on Wall Street for ten years, James…