Brazil's leading stock exchange, Bovespa, surged to a record day after it was listed for the first time. In just one day the stock rose 51%. In the morning the stock exchange was listed at 23 reais, but by days end it was at 34 reais. All this buzz, 288 million shares were sold, generated an astonishing $3.7 billion dollars in IPO. The amazing cash flow promises to boost the local currency and economy.
Bovespa has seen its profits jump 71% in just one year. The main reason for this, besides the first listing, was also the immense interest from oversea investors. The two most notable stakeholders were Brazil's Grupo Itau and Grupo Santander Banespa.
Information found at BBC News
Friday, October 26, 2007
Petrobas Wants to Make Cellulosic Ethanol Viable
Brazil's state-run oil company Petroleo Brasileiro SA, or Petrobras, wants to make cellulosic ethanol viable in the near future. Carlos Tadeu Fraga, executive manager of Petrobras, said that the cellulosic ethanol is at the moment not commercially possible because it costs more to produce that sugarcane or corn. But he wished in the next ten years to make it a possibility.
Petrobras inaugurated a pilot plant to produce ethanol from sugarcane bagasse, a residue from ethanol or sugar production. The company plans to have a full plant running in 2010, able to produce ten tons of the product out. U.S. has aims for the same objective, but has yet to produce the technology to make it a possibility.
Petrobras inaugurated a pilot plant to produce ethanol from sugarcane bagasse, a residue from ethanol or sugar production. The company plans to have a full plant running in 2010, able to produce ten tons of the product out. U.S. has aims for the same objective, but has yet to produce the technology to make it a possibility.
Brazil Looks Into Drilling In Amazon
The Natural Petroleum Agency, or ANP, announced a week ago that they plan to invest a little under $36 million dollars to look for oil and gas in the province of Acre. The western jungle of the Amazon is located in Acre. Many critics are nervous that this could catastrophically alter the jungle, one of the last untouched wildernesses in the world.
ANP director Getulio Silveira Leite urge that this was needed to discover the possibilities. Joao Paulo Capobianco, the Environment Ministry’s executive secretary, was cautious and listening to the decision. He said, "In theory, there are methodologies and technologies that allow this activity without environmental damage." He stressed to do research into ANP's plans and to make sure everyone knew what scale they were dealing on.
Acre congressman Marcelo Serafim, was on the same page. He did note that other plans to preserve the Earth and maintain a viable energy system has not worked in the past. The past examples he quoted were the Atlantic forests and Pantanal (wetlands).
Brazil's population continues to grow and more natural resources are needed to maintain the society. They have already started to build pipelines inside the Amazon.
All information found at Associated Press
ANP director Getulio Silveira Leite urge that this was needed to discover the possibilities. Joao Paulo Capobianco, the Environment Ministry’s executive secretary, was cautious and listening to the decision. He said, "In theory, there are methodologies and technologies that allow this activity without environmental damage." He stressed to do research into ANP's plans and to make sure everyone knew what scale they were dealing on.
Acre congressman Marcelo Serafim, was on the same page. He did note that other plans to preserve the Earth and maintain a viable energy system has not worked in the past. The past examples he quoted were the Atlantic forests and Pantanal (wetlands).
Brazil's population continues to grow and more natural resources are needed to maintain the society. They have already started to build pipelines inside the Amazon.
All information found at Associated Press
Friday, October 19, 2007
Brazil Wins Suit Against America
America was found guilty in paying their cotton farmers illegal subsidies up towards $3 billion dollars, to help against Brazil's production. WTO issued the remarks opening the door for Brazil to receive new economic freedom and power. This all goes along to helping Brazil continue its agricultural might.
Phil Bloomer of Oxfam International, called it a, "a triumph for developing countries, and a warning for rich countries whose unfair systems are creating misery and poverty for millions. This is a signal that the modus operandi of the rich and powerful in the WTO getting away with anything they like will no longer be tolerated."
Many thought that the illegal subsidies help create the plunging poverty in the region. The overproduction kept the prices down, forcing Brazilian farmers to work extra hard just to make ends meet.
U.S. plans to appeal to the WTO on the matter.
All information found at BBC
Phil Bloomer of Oxfam International, called it a, "a triumph for developing countries, and a warning for rich countries whose unfair systems are creating misery and poverty for millions. This is a signal that the modus operandi of the rich and powerful in the WTO getting away with anything they like will no longer be tolerated."
Many thought that the illegal subsidies help create the plunging poverty in the region. The overproduction kept the prices down, forcing Brazilian farmers to work extra hard just to make ends meet.
U.S. plans to appeal to the WTO on the matter.
All information found at BBC
South American Nations to Create New Bank
Led by Venezuelan President Hugo Chavez, an assortment of South American nations are creating a new bank to rival the IMF, American bank IDB, and World Bank. The countries include Brazil, Ecuador, Bolivia, Paraguay, Uruguay, Venezuela, and Argentina. The bank will be called Banco del Sur, or Bank of the South.
So why are all these countries uniting to create a new bank? Chavez strongly believes that the other banks create impossibly difficult sanctions that leave many in region under extreme poverty. Under the new system it will help alleviate their citizens to new financial prosperity.
Most can look into this as Chavez as positioning himself more and more as the strong Latin America voice against America, but South American countries facing poverty this looks like a golden opportunity for them.
Brazil itself has played an important role. The most economic and populated nation in the region was hesitant to go in at first, citing they wanted to make sure that the bank was established to help growing communities. They agreed hoping this would allow Brazil businesses to grow to even greater heights. This all comes at the eve of the World Bank about to hold meetings this week.
All information found at Taipei Times
So why are all these countries uniting to create a new bank? Chavez strongly believes that the other banks create impossibly difficult sanctions that leave many in region under extreme poverty. Under the new system it will help alleviate their citizens to new financial prosperity.
Most can look into this as Chavez as positioning himself more and more as the strong Latin America voice against America, but South American countries facing poverty this looks like a golden opportunity for them.
Brazil itself has played an important role. The most economic and populated nation in the region was hesitant to go in at first, citing they wanted to make sure that the bank was established to help growing communities. They agreed hoping this would allow Brazil businesses to grow to even greater heights. This all comes at the eve of the World Bank about to hold meetings this week.
All information found at Taipei Times
Friday, October 12, 2007
Ethanol Production Creates Horrid Working Conditions
Sugarcane-based Ethanol, the new energy source that powers 30% of the Brazil's automobiles, has become a standard. The country has become the number one exporter of the world in ethanol. They export over 900 million gallons, returning $1.6 billion in profits. All of this has positioned Brazil as a progressive energy leader.
But all of this has created a harsh working conditions for the workers in charge of harvesting the sugarcanes. Working 12 hours a day in blazing heat with little pay, the workers find themselves in desperate situations. Their salary is around $420 a month. The plantation owners charge them for the transportation and food, furthering them into debt.
Worst yet is the pace they have to keep. In the outset sugarcane was sold in tons ranging from 6 t0 8 a day. Now, with European imports booming, the pace has quickened to 10 to 12 tons a day.
UNICA, the country's association of sugar and ethanol producers have acknowledged working conditions in the cane fields have caused U.S. and European importers to ban their products. The whole scenario is taken right out of Upton Sinclair's novel the Jungle. Little hope or movement yet to see if conditions are improving.
But all of this has created a harsh working conditions for the workers in charge of harvesting the sugarcanes. Working 12 hours a day in blazing heat with little pay, the workers find themselves in desperate situations. Their salary is around $420 a month. The plantation owners charge them for the transportation and food, furthering them into debt.
Worst yet is the pace they have to keep. In the outset sugarcane was sold in tons ranging from 6 t0 8 a day. Now, with European imports booming, the pace has quickened to 10 to 12 tons a day.
UNICA, the country's association of sugar and ethanol producers have acknowledged working conditions in the cane fields have caused U.S. and European importers to ban their products. The whole scenario is taken right out of Upton Sinclair's novel the Jungle. Little hope or movement yet to see if conditions are improving.
Brazil Refuse to Extradite Lebanes Banker
In an announcement, the Brazil Supreme Court refused to extradite Rana Koleilat to Lebanese officials. The vote was unanimous because the lack of treaty talks between the two nations. Koleilat was under suspicion for bank fraud and possible connections to the assassination of Lebanese Prime Minister Rafik Hariri.
In 2003 her bank, Al-Madina, was found to be missing over $300 million dollars. She fled the country and wound up in Brazil. The UN questioned her for her role in the car bombings that claimed Hariri. Some believed she used her money from Al-Madina to fund the operation.
Brazil is allowing her to leave the country in eight days. She plans to go to a European country where she holds a citizenship card.
In 2003 her bank, Al-Madina, was found to be missing over $300 million dollars. She fled the country and wound up in Brazil. The UN questioned her for her role in the car bombings that claimed Hariri. Some believed she used her money from Al-Madina to fund the operation.
Brazil is allowing her to leave the country in eight days. She plans to go to a European country where she holds a citizenship card.
U.S. Needs Brazil to Save Doha Talks
Doha, the long-running trade talks envisioned to help millions out of poverty and increase global trade, has been hitting stalemates. U.S. and the European Union want to continue as is, but developing nations think the proposals are unfair and need to be revamped. Since the summer the World Trade Organization has been looking for some hope.
That is where Brazil comes. The Latin American powerhouse holds influence over many countries and the U.S. wants the nation to step up, speak for their behalf, and to convince the others to fall in line. Brazil, which has been a major player in the Doha talks, is hesitant to do so.
For the deal to come to light, every member of the WTO needs to agree to it. That means the developing countries must see some significant gains, which they think is not coming. Brazil, who has a strong agricultural backbone, feels that the talks are not based strongly there. Brazil has a booming economy and could continue to grow if more revisions to the deals would include agriculture. U.S. might have to let this in to have Brazil in their corner. Either way Brazil holds the fate for many people's future.
That is where Brazil comes. The Latin American powerhouse holds influence over many countries and the U.S. wants the nation to step up, speak for their behalf, and to convince the others to fall in line. Brazil, which has been a major player in the Doha talks, is hesitant to do so.
For the deal to come to light, every member of the WTO needs to agree to it. That means the developing countries must see some significant gains, which they think is not coming. Brazil, who has a strong agricultural backbone, feels that the talks are not based strongly there. Brazil has a booming economy and could continue to grow if more revisions to the deals would include agriculture. U.S. might have to let this in to have Brazil in their corner. Either way Brazil holds the fate for many people's future.
Friday, October 5, 2007
Bush Might Cut Funding to Brazil
As Brazil continues to develope its economy into one of the largest in the world, the slums have stayed occupied. The USA has funded aid to leviate the poor into the country, but soon President Bush might stop funding the effort. Bush reasons are to help government spending wherever he can. But House Representives see this as a possible danger.
Rep. Dan Burton, of Indiana, stressed that Brazil needs the funding to maintain their friendship in the Latin American community. Venezuelan President Hugo Chavez, who has made an effort to be a thorn to America' s side, is a growing popular figure in South America. Brazil, which hosts both the largest population and economy, is a powerful ally to help maintain a good word in the continent.
Plus the House is interested in the biofuels that Brazil has developed. Their research has allowed them to be a global voice in energy. The cuts will not start till 2008, but one has to ask is it worth it to lose favor with a potential global power?
Information found at Washington Times
Rep. Dan Burton, of Indiana, stressed that Brazil needs the funding to maintain their friendship in the Latin American community. Venezuelan President Hugo Chavez, who has made an effort to be a thorn to America' s side, is a growing popular figure in South America. Brazil, which hosts both the largest population and economy, is a powerful ally to help maintain a good word in the continent.
Plus the House is interested in the biofuels that Brazil has developed. Their research has allowed them to be a global voice in energy. The cuts will not start till 2008, but one has to ask is it worth it to lose favor with a potential global power?
Information found at Washington Times
Brazil to Increase Tech Power
Brazil in recent news have increased its desire in US tech companies. Spending will drastically go from $20 billion (2007) to $32.3 billion (2011). The companies invested in the large nation are Dell, Myspace, and Draper Fisher Jurvetson. All of this spending could increase the power of the nation as it competes with others like India and China in technologic integration.
But why has this country been slow to the curve. Inflation crippled the economy, slowing it down. It took the country many reforms to stabilize it and now they plan to reinvest. But will it work? The great divide between rich and poor might increase more if only the rich can obtain computers and the internet. Plus taxes might kill the early adopters into buying in. Either way Brazil seems steadfast into enter the ethernet mainfraim and become even more globally recoginized.
Information found at USA Today
But why has this country been slow to the curve. Inflation crippled the economy, slowing it down. It took the country many reforms to stabilize it and now they plan to reinvest. But will it work? The great divide between rich and poor might increase more if only the rich can obtain computers and the internet. Plus taxes might kill the early adopters into buying in. Either way Brazil seems steadfast into enter the ethernet mainfraim and become even more globally recoginized.
Information found at USA Today
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