Category Archives: Economic Information
Brazilian government announces round of bidding for exploration of the pre-salt oil area
The National Energy Policy Council approved on Thursday (23), the realization of the 1st round of bidding under sharing scheme in the area of the brazilian pre-salt oil for October. According to the article published on Wednesday, the National Petroleum Agency (ANP) is authorized to conduct the bidding in October 2013. The area will be [...]
Prices of meals are expensive too in Brazil
The average cost of a meal in a restaurant in Brazil was R$ 27.40 last year (about 13 U$D). In São Paulo, the average was R$ 30.71 per meal(about 15 U$D), 12.1% higher than the national level, according to a survey published in the newspaper Folha de Sao Paulo by Assert (Associação das Empresas de [...]
Government worried about brazilians purchasing goods abroad, from Revista Exame
An article on Revista Exame this week sheds light on government data that showed that overseas purchases are increasingly common in Brazil with the accessible rate for the dollar against the real, noncompetitive industry in the country and transportation facilities. The magazine nailed it in the head defining in a few words what exactly happens [...]
Expensive prices in Brazil carnival
According to a recent article in the Valor Economico newspaper ( http://www.valor.com.br/brasil/3005220/hotel-caro-e-maior-critica-de-turista-estrangeiro-ao-carnaval-do-rio ), the high cost of accommodation in Rio de Janeiro was elected as the main negative point for foreign tourists who spent the Carnival in Brazil this year. According to the research published by the newspaper, when asked about the main drawbacks of [...]
Article about Rio on NYT and bad news for Petrobras with workers on strike
Still in Carnaval mode i will just leave you with a few good reads this week… Good news for Rio with a long article on tourism in Rio on NYT… http://travel.nytimes.com/2013/02/17/travel/rio-with-eyes-open.html?pagewanted=1&_r=1&adxnnlx=1361038464-qyPPZesnF8nD3QXaL0IBTQ& More bad news for Petrobras with its workers on strike http://www.upstreamonline.com/live/article1317300.ece
Wave of bad news for Petrobras
Remember that Brazilian company that has discovered huge reserves of oil and inaugurated the new frontier of global exploration in deep waters? Remember that Brazilian company that supposedly would take Brazil from its economic past and push the country to become a major world economic power? Apparently, they’re having a little trouble getting there. We [...]
Higher gas prices in Brazil, as if they weren’t already too damn high
Brazilian finance minister, Guido Mantega, said on Wednesday (30) that the 6.6% increase in gasoline prices, announced the day before by Petrobras, is a “modest rise” and “will not disturb anyone.” According to him, the price change in the stations should be around 4%. Mantega also said that while it was possible, the government has [...]
Petrobras announces another Oil discovery on the coast of Rio de Janeiro
Petrobras announced late on Thursday, January 3, 2013, a new oil discovery in the ultra deep waters of the post-salt(on top of the salt layer of the earth) of Campos Basin. The oil is heavy and therefore of less value in the international market, but the big advantage is that the discovery is located in [...]
What 2013 brings to the Brazilian economy
- Increase to the minimum wage in 2013 but nothing close to the ideal The brazilian minimum wage will receive an increase of 9% over the current value and will go to 678 R$ starting on the 1st of January 2013. The value was announced by the president and is somewhat higher than previously anticipated [...]
Another “chicken flight” for Brazil, by the way Lula hates that term
JUST two years ago, when Dilma Rousseff was elected Brazil’s president, the country’s economy was booming. It then ground to a halt and is now struggling to recover. Despite increasingly frantic official efforts at stimulation, the moribund creature grew by only 0.6% in the third quarter—half the number forecast by Guido Mantega, the finance minister. [...]
Bureaucracy prevents investment in small oil and gas companies in Brazil
Micro, small and medium enterprises supplying the oil and gas industry are dying on the beach when it comes to obtaining funds from BNDES (National Bank for Economic and Social Development), a government bank. With no experience or accounting advice or legal, these companies often take up to eight months to complete the process, when [...]
Good and not so good news in brazilian economy: energy prices reduced
On one side, a weak economy, shaken by the international crisis. The other, a labor market where unemployment rates remain low, month after month. One scenario, against the core countries, which gets you air a question: how long will Brazil be able to hold their jobs? After all, Brazil in the first half rose just [...]
One trillion in taxes paid to the government this year in Brazil!
The collection of federal, state and local taxes, paid by Brazilians reached the milestone of $ 1 trillion this Thursday, August 30, 2012, according to Impostômetro(Taxometer), system that measures in real time the collection of taxes in the country. The figure was reached 15 days before the seen in 2011, which shows that even as [...]
Forbes Magazine mocks price that Brazil pays for vehicles: Corolla US$ 65,000 in Brazil vs US$ 16,000 in the US
An American journalist caused controversy this week by publishing an article mocking the prices of cars in Brazil. The bad news is that he is absolutely right and the Brazilian will have to swallow the dry jest. “One can imagine that pay US$ 80,000 for a Jeep Grand Cherokee means that it comes equipped with [...]
The Mensalao trial: the big monthly allowance of brazilian politics and its repercussion on international media
Brazilian democracy is always praised – and priced – in international analyzes on our economy. Since thursday, August 2nd, the start of the trial of Mensalão(big monthly allowance), the economic world is keeping and eye on the proper functioning of the institutions of Brazil. The international repercussions of the work of the Supreme Court is [...]
