Why is everything so expensive in Brazil? I’m Brazilian and lived there most of my life and back then I quite never understood why until I came across this article by the Economist and it all make sense: high taxation combined with a lack of competitiveness. The Brazilian Real has been in a free-fall for … Continue reading
To me, the very concept of being a Facebook fan of a bank is rather strange. Here and in Brazil too, they are seen as evil money making machines – so, how Itau achieved such a high number of fans? Their social media journey started around 5/6 years ago – and Itau seemed to have … Continue reading
Brazilian authorities said they uncovered a massive tax fraud scheme on Thursday at the Finance Ministry’s tax appeals board that could have cost taxpayers up to 19 billion reais ($5.96 billion), Reuters reports. The news of the alleged tax evading practices comes at a particularly troublesome time for the nation as it is still reeling from a multibillion-dollar corruption … Continue reading
Many investors in Brazil, including us, have been a little frustrated over the past couple of years with its lack of growth and progress. Gross domestic product (GDP) in Brazil grew a mere 0.2% in 2014 (estimated), a far cry from the 7.5% it saw in 2010.1 However, we believe Brazil has all the elements … Continue reading
Brazil’s is an unusually closed economy as measured by trade penetration, with exports plus imports equal to just 27.6 per cent of GDP in 2013. By Otaviano Canuto, Cornelius Fleischhaker and Philip Schellekens Brazil’s large size is often used to explain its relative lack of openness. But this argument does not stand up to scrutiny: among … Continue reading
By Rick Harper, Head of Fixed Income & Currency WisdomTree In October’s presidential elections, the people of Brazil voted for the status quo when they re-elected Dilma Rousseff. Since then, markets have cast their votes as well. With growth continuing to slow, prices remaining stubbornly high and corruption investigations dominating the headlines, many investors have … Continue reading