Tag Archives: Economy
Economic Crisis Hits Rio Carnival Posted by Rachel on Jan 28, 2009
The global economic crisis has begun to affect Brazil, with mass lay-offs and budget cuts. The latest victim of the crisis is Rio de Janeiro’s world famous Carnival celebration. First, price increases are hitting the samba schools hard. Materials used to create costumes and floats have are now much more expensive after a 7% increase…
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…
Brazil and France Sign Arms Agreement Posted by Rachel on Dec 26, 2008
This week, President Nicolas Sarkozy was in Brazil, where he met with President Lula in Rio de Janeiro. On Tuesday, they signed an arms agreement worth US$12 billion to help Brazil protect its oil fields and the Amazon. The deal involves the purchase of fifty Super Cougar helicopters from France, as well as the joint…
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…
Brazil in the News Posted by Rachel on Oct 29, 2008
Today we’re going to look at some of the world headlines about what’s going on in Brazil: Economic crisis hits as Brazil builds, LA Times Ex-Militant Concedes Loss in Election for Rio Mayor, New York Times Lula setback in Brazil city poll, BBC Brazil’s ruling coalition gains city halls, Miami Herald Brazil oil delays may…
Brazil’s Growing Economic Power Posted by Transparent Language on Feb 22, 2008
It’s not news that Brazil is a growing economic power, since it has the seventh-largest economy in the world and second largest in the Americas. Here’s the news, though. On Thursday, the Brazilian government announced that for the first time in history, Brazil has enough capital to pay off its entire dÃvida externa, or external…