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Marcela Ayres

Brazil economy chief slams 'excessive' bank profits, urges competition

05 Jun 2019

BRASILIA Brazilian banks are chalking up "excessive" profits, Economy Minister Paulo Guedes said on Tuesday, adding that the country needs an injection of competition to end what he called the cartels that dominate many of its major sectors.

Brazil to let mills sell ethanol directly to gas stations

04 Jun 2019

BRASILIA/SAO PAULO The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors.

UPDATE 1-Brazil to let mills sell ethanol directly to gas stations

04 Jun 2019

BRASILIA/SAO PAULO, June 4 The Brazilian government on Tuesday paved the way for ethanol makers to sell the fuel directly to gas stations, by passing a resolution to boost fuel industry competition, although additional legislation is required to bypass fuel distributors.

Brazil eyes fiscal boost as economy flirts with recession

31 May 2019

BRASILIA Brazil's government is looking at assembling a fiscal stimulus package worth around 20 billion reais ($5 billion) to revive flagging growth and prevent the economy from falling back into recession, sources told Reuters.

Brazil government to freeze $1.2 billion, cut growth estimates -sources

21 May 2019

BRASILIA The Brazilian government plans to freeze a further 5 billion reais ($1.22 billion) in spending as part of a periodic budget review, two sources said on Monday, adding that official GDP growth estimates will be cut to 1.6% for 2019.

Brazil pension committee chief says government still well short of pension reform votes

21 May 2019

BRASILIA Brazil's President Jair Bolsonaro on Monday emphasized the importance of pension reform to Brazil's economic progress, but a powerful lawmaker said the president's failure to engage with Congress means the bill is still well short of the votes needed for it to pass.

Brazil won't sacrifice curbing inflation for growth, says cenbank chief

16 May 2019

BRASILIA Brazil's central bank will not sacrifice controlling inflation for boosting growth, even though policymakers are disappointed with the economy's performance this year, central bank president Roberto Campos Neto said on Thursday.

Brazil government, central bank nod to rapidly deteriorating GDP, fiscal position

15 May 2019

BRASILIA Brazil's government and central bank said the country's economic and fiscal health was deteriorating rapidly, as yet another economic indicator on Tuesday suggested the country may be sliding closer toward recession.

Brazil to cut 2019 GDP forecast below 2% as fiscal picture worsens

15 May 2019

BRASILIA Brazil's government will cut its 2019 economic growth forecast to below 2% and seek supplementary funding from state-run BNDES development bank to meet current expenditure and avoid breaking its fiscal rules, Economy Ministry officials said on Tuesday.

Brazil's CAOA eyes Chinese partner to take over Ford plant

14 May 2019

BRASILIA/SAO PAULO, May 13 The founder of Brazilian automaker CAOA said on Monday he is negotiating with Chinese business executives to make a joint acquisition of a Ford Motor Co plant near Sao Paulo.

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