Brazil exchanged its benchmark Brady C-bond with a new, improved bond called the A-bond, thanks to some clever liability management.
Category: Brazil
Posted inMagazine
Brazil’s Big Oilman
José Sérgio Gabrielli, the new president of Petrobras, the Brazilian national oil company, says what will remain the same and what will change under his command.
Posted inMagazine
Cashing In
Brazilian businesses complain about banks’ high lending rates and record profits. But banks say their reward should be commensurate with the risks they are taking.
Posted inMagazine
Domestic Bliss
Brazil’s equity and bond markets are recovering at an impressive rate, but growth can’t continue much longer without some serious reforms.
Posted inDaily Brief
Brazil: Deflation in August
Brazil had a fourth-straight month of deflation in August as a rising currency cut the cost of foods and other imported goods, an index of consumer, wholesale and construction prices showed. Rio de Janeiro-based Getulio Vargas Foundation’s IGP-M index fell 0.65 percent in the month ended August 20, its biggest decline since a 1 percent drop in June 2003. The deflation, which is most evident in wholesale prices, suggests the central bank succeeded in reining in prices by raising interest rates nine times between September 2004 and May. Prices fell 0.34 percent in July, 0.44 percent in June and 0.22 percent in May.
Posted inDaily Brief
Shell Invests in Brazil
Royal Dutch/Shell will invest $200 million in Brazil in 2006, said Shell’s president in Brazil Vasco Dias. Dias said Shell’s investments in the country are likely to increase in the next few years as the company launches production in a new field in the Campos basin. The BC-10 block, as the field is called, is estimated to hold between 200 and 300 million barrels of heavy crude.
Posted inDaily Brief
Brazil: Deflation in August
Brazil had a fourth-straight month of deflation in August as a rising currency cut the cost of foods and other imported goods, an index of consumer, wholesale and construction prices showed. Rio de Janeiro-based Getulio Vargas Foundation’s IGP-M index fell 0.65 percent in the month ended August 20, its biggest decline since a 1 percent drop in June 2003. The deflation, which is most evident in wholesale prices, suggests the central bank succeeded in reining in prices by raising interest rates nine times between September 2004 and May. Prices fell 0.34 percent in July, 0.44 percent in June and 0.22 percent in May.
Posted inDaily Brief
Shell Invests in Brazil
Royal Dutch/Shell will invest $200 million in Brazil in 2006, said Shell’s president in Brazil Vasco Dias. Dias said Shell’s investments in the country are likely to increase in the next few years as the company launches production in a new field in the Campos basin. The BC-10 block, as the field is called, is estimated to hold between 200 and 300 million barrels of heavy crude.
Posted inDaily Brief
Richard Lark, CFO, Gol Linhas Aéreas Inteligentes
to join discussions at Brazil – The Way Forward, The 3rd Brazil Investment Forum in Rio de Janeiro, 31 Aug – 1 Sep 2005. Apply for your invitation today at www.latinfinance.com/brazil
Posted inDaily Brief
Buratti Fails to Show Proof
Rogerio Buratti, an ex-aide to Brazilian Finance Minister Antonio Palocci, told a congressional committee he based statements that his former boss took bribes solely on information from a friend, Ralf Barquette, who has since died. Buratti told prosecutors last week that Palocci received about $20,000 a month in bribes from a city trash collector when he was mayor of Ribeirao Preto.