Brazil’s Luiz Inacio Lula da Silva is likely to run for the presidency again in 2014 if an opposition candidate wins next year’s election, he said in an interview (Reuters).
Dilma Rousseff, who is expected to be the Brazilian ruling party’s presidential candidate next year, is showing no sign of cancer after her final chemotherapy treatment, doctors said (Reuters).
Brazil will pay small farmers to plant trees in deforested Amazon areas to slow rain forest degradation, President Luiz Inacio Lula da Silva said as he unveiled a broad plan to protect the region (Reuters).
Seeking to redress one of the darkest chapters of its dictatorship era, Brazil amnestied dozens of peasants who were jailed or tortured on charges they were linked to a 1970s Communist uprising (Reuters).
Brazil’s current account deficit widened more than expected in May, though a surge in foreign direct investments and inflows to local stocks and bonds eased concerns about the country’s need for overseas capital (Reuters).
Brazilian steelmaker Cia Siderurgica Nacional has hired 1,200 workers at its Volta Redonda plant following signs the market is recovering, a company official said (Reuters).
Corporate investment and factory usage in Brazil will bounce back in the fourth quarter of 2009, should growth in household consumption remain steady, the head of the state development bank BNDES said (Reuters).
A top shareholder at Bradesco urged Brazil’s second-largest private bank to expand overseas to benefit from fast-growing markets in Asia and Africa, a newspaper reported. Portugal’s Grupo Espirito Santo, Bradesco’s third-largest shareholder, has recently signed an accord with the Brazilian bank to develop international opportunities (Reuters).
Brazil’s telecommunications regulator Anatel said it had imposed new measures to maintain the separation of the mobile phone units of Telecom Italia and Telefonica, which owns a controlling stake in the Italian company, in the country (Reuters).
Brazilian miner Vale signed a preliminary accord on Thursday with state-run oil company Petrobras to buy a 25 percent stake in exploration rights for oil and gas blocks off Brazil’s coast (Reuters).
Chevron Corp announced a slightly earlier start of oil output at the Frade field, a $3 billion project off Brazil’s coast expected to produce 90,000 barrels per day by 2011 (Reuters).
Private equity firm Advent International said on Thursday it bought a minority stake in Brazilian education group Kroton Educacional, betting on increased consolidation among schools in Latin America’s largest economy (Reuters).
Wal-Mart Stores Inc plans to invest 1.6 billion reais ($809 million) in Brazil in 2009, betting an economic recovery in Latin America’s largest economy will stoke consumer demand (Reuters).
Brazilian mining giant Vale said it signed a memorandum of understanding to build a steel mill in Brazil’s northeastern state of Ceara with capacity to produce 6 million tons of steel slabs per year. The agreement also included the state government of Ceara, Korean steelmaker Dongkuk and Brazil’s Companhia Siderurgica do Pecem (Reuters).
Demand for iron ore from steel mills is much improved from the extremely depressed level of the fourth quarter of 2008, Brazilian iron ore miner Vale said, but the company expects a “slow recovery” (Reuters).
Vale said it would begin to produce biodiesel from palm oil from 2014 to fuel its Carajas mine and railway operations in Brazil’s north (Reuters).
Potential mining mergers have sparked talk that Brazil’s Vale may try to acquire a major industry player, though local analysts say Vale would probably target small companies as the economy slows. Some believe Vale may try to acquire Anglo American or Xstrata after Anglo American rejected Xstrata’s nil-premium merger bid (Reuters).
Brazilian iron ore miner MMX has clinched a deal to sell its Corumba pig iron plant for 100 million reais ($50 million) to Vetorial Siderurgica, MMX said (Reuters).
MMX said that it received a nonbinding offer from China’s Wuhan Iron And Steel Inc for a minority stake in it and its subsidiary MMX Sudeste Mineracao (Reuters).
Brazilian real estate is booming again after fizzling at the end of last year, as sales have rebounded in one of the best emerging markets, a New York-based real estate private equity investor said (Reuters).
Brazil has ample cash to revamp its dilapidated transport network even amid an economic recession but corruption and bureaucracy have hampered badly-needed improvements, a senior industry official said (Reuters).