Brazilian opposition presidential challenger Marina Silva would tie incumbent president Dilma Rousseff in a a first round vote and win by at least 10 percentage points in a runoff, according to a poll released Friday by the Datafolha opinion research institute. The poll showed the two candidates with support from 34% of respondents in a…
GDP Shrinks In 2Q, Putting Economy Into Recession
by BCR Staff •
Brazil’s gross domestic product contracted by 0.6% in the second quarter of the year, putting the country’s economy into a recession, the IBGE statistics institute reported Friday. In absolute terms, the country’s GDP totaled 1.27 trillion Brazilian reais. The IBGE said the economy shrank by 0.9% versus the second quarter of 2013. The decline of…
Opposition Candidate Neves Wants Fraga As Finance Minister
by BCR Staff •
Brazilian opposition presidential candidate Aecio Neves if elected would name former central bank president Arminio Fraga to lead the country’s finance ministry, the candidate said during a televised debate. Speaking during a debate on Brazil’s Band television network, Mr. Neves called Mr. Fraga one of the “most respected economists in the world” and said he would help…
Brazil’s Population Reaches 202 Million — IBGE
by BCR Staff •
Brazil’s population has reached 202 million according to the latest IBGE census institute estimate, up 0.8% from the figure released last year. The census report released Thursday said the country’s population rose by 1.7 million from last year, when it surpassed the 200 million mark for the first time. According to the latest figures, São…
Oi Studying Purchase of TIM Mobile In Brazil
by BCR Staff •
Brazilian telecom Oi is studying the possible purchase of Telecom Italia’s mobile operator TIM in Brazil, the company said in information provided to Brazil’s CVM securities and exchange commission. Telecom Italia holds some 67% of TIM Participacoes, estimated to be worth around $8.1 billion. Oi said it has hired BTG Pactual bank to review alternatives that could…
Poll: Marina Silva Would Defeat Rousseff In Runoff Vote
by BCR Staff •
Brazilian opposition presidential challenger Marina Silva would defeat incumbent president Dilma Rousseff if a runoff vote were held between them, according to a poll taken by the Ibope opinion research institute. The poll showed Ms. Silva with support from 45% of respondents, versus 36% for Ms. Rousseff in a possible second round runoff vote. In the…
Power Regulator Oks Rate Hikes In 4 More States
by BCR Staff •
Brazil’s power regulator Aneel authorized a new round of electricity rate hikes for power distributors in four states, the agency said Tuesday. Aneel said it would permit rate hikes of between 22% and 32% to a total of 5.5 million consumers in the Northeastern states of Paraiba, Alagoas, Piaui and Maranhão beginning on Aug. 28.…
Votorantim Chairman Antonio de Moraes Dies
by BCR Staff •
The chairman of Brazilian industrial conglomerate Votorantim, Antonio Ermírio de Morães, died in São Paulo late Sunday of heart failure, the company said. Mr. Morães was 86 years old. Votorantim, a group with operations in construction materials, energy, agribusiness, and finance, was founded by Mr. Morães’ father, José Ermírio de Morães, in 1928. Mr. Morães,…
Government Extends Tax Break On Computers, Phones To 2018
by BCR Staff •
Brazil’s government will extend a reduction in the PIS/Cofins welfare tax for computer and phone equipment to December 2018, the Finance Ministry said. The measure will maintain PIS and Cofins tax charges on notebooks, PCs, tablets, smartphones, and digital routers at zero. The tax break had been scheduled to expire at the end of this…
Govt Seeks $5 Bln In 4G Mobile Bidding Set For Sept. 30
by BCR Staff •
Brazil’s government will hold an auction for fourth generation, or “4G,” mobile telecom service on September 30, the country’s telecom regulatory agency Anatel said. The agency said the government has set the minimum amount to be paid for six concessions of the 700 MHz signal range at $5.3 billion, of which approximately $3.4 billion will go…
