Category: Brazil

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

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

Blairo Maggi, the world’s biggest soybean farmer, said Brazilian soybean planting may decrease by a fifth next year and the purchase of fertilizer and other supplies may drop by half because of a strengthening domestic currency. The Brazilian real, which has gained 32 percent in the last year, needs to slide about 20 percent to 2.80 per dollar from 2.31 today for farmers to make enough money to maintain production levels, said Maggi.

Brazil´s Banco Votorantim completed a $100 million issuance of five-year, floating rate Eurobonds. The bank originally planned to sell $50 million of the bonds but upped the issuance in the face of strong demand. The bonds were priced at 99.90% of face value, with the coupon 200 basis points over 3-month Libor. The lead managers of the sale were BNP Paribas and Banco Bradesco.

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

Gol Linhas Aereas Inteligentes, Brazil’s third-biggest airline, reported a net profit of $22 million in the second quarter, up a disappointing 5 percent year-on-year. The company said higher fuel costs and currency hedging expenses lowered earnings growth; Gol´s earnings had grown more than 20 percent in each of the previous four quarters. Chief Financial Officer Richard Lark said profit in the second half of the year will continue to suffer from rising fuel costs. Last month Gol doubled firm orders for Boeing 737-800 to 60 aircraft and increased purchase options to 41.

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

Brazil’s trade surplus surged to a record $5 billion in July, powered by a
jump in commodity exports such as soybeans, coffee and tobacco. Exports
rose 8 percent from June to a record $11.06 billion, while imports fell 2
percent to $6.05 billion. Trade Minister Luiz Furlan said in July that the
country´s 2005 trade surplus would increase to $35 billion as the country
benefits from increased demand from China

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

Valdemar Costa Neto, a deputy in Brazil´s lower house and the head of the
Liberal Party, a member of the governing coalition, resigned his seat after
saying he didn’t declare campaign funds received from President Luiz Inacio
Lula da Silva’s Workers’ Party. He is the first lawmaker to resign in the
two months since congress began probing allegations of government
corruption. Brazil´s Bovespa Index rose 1 percent Monday.