By Stratfor Global Intelligence The Brazilian legislature will soon decide whether to move forward with approving a new mining law that has been stuck in the National Congress since 2013, replacing the code that has been in place since 1967. In its current form, the new law would establish auctions for mining concessions and raise … Continue reading
By Pepe Escobar It started in April with a rash of deals between Argentina and Russia during President Cristina Kirchner’s visit to Moscow. And it continues with a $53 billion investment bang as Chinese Premier Li Keqiang visits Brazil during the first stop of yet another South American commercial offensive – complete with a sweet metaphor: … Continue reading
China is set to invest $50 billion in new infrastructure projects across Brazil in a move that could be a big boost to bilateral ties. “There are about $50 billion in new projects. We need to wait till the end of the visit to specify the [exact] figures and what kind of projects it will be,” Brazil’s Foreign Minister Jose Alfredo Grasa Lima told … Continue reading
By Scott Firsing As the 2016 United States (US) presidential race heats up, it looks as though foreign policy will attract more of the limelight than usual. Republicans have heavily criticized US President Barack Obama and the Democratic Party over recent foreign policy decisions. From improving relations with Cuba and the spread of violent Islamic … Continue reading
The outlook on Brazil’s credit rating was cut to negative by Fitch Ratings due to challenges in implementing fiscal adjustment amid a stalled economy, according to a statement released on Thursday. The ratings agency lowered its outlook on Brazil’s sovereign rating to negative from stable while keeping the country’s rating at BBB, which is the second-lowest investment grade. … 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
Brazil and Russia have announced their plans to join the Chinese-led Asian Infrastructure Investment Bank (AIIB) — a potential rival to the Western-led IMF and World Bank — as founding members. Brazilian President Dilma Rousseff announced on Friday that Brazil had accepted China’s invitation and was seeking to become a founding member of the bank. “The Brazilian … 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
By Todd Shriber, ETF Trends Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, were off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news for the iShares MSCI Brazil … Continue reading
By Stratfor Global Intelligence Social movements and activist groups are just one more challenge Brazil will face in a year of economic slowdown and political scandal. Protests over public transportation costs, land reform, work conditions and other issues have been on the rise in recent years and will test Brazilian President Dilma Rousseff’s second-term reform … Continue reading