Brazil’s central bank cut short-term interest rates to 17.5%, an unexpectedly large reduction of 100 basis points. The bank’s monetary policy committee signaled further fiscal loosening by maintaining its downward […]
Category: Brazil
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Brazilian Airlines Create Online Travel Agency
Varig, Brazil’s largest airline, is joining forces with the country’s third largest carrier, TAM, to create a new online travel agency to be named Portal Latino Americano: plata.com. The project […]
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Bringing the Government to Market
Yet another free-market wizard has taken a top job in Brazil’s government banks. Eleazar de Carvalho Filho, a former UBS Warburg executive, now plans to shape Brazilian industry and financial markets as head of the government’s investment operations.
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Globo Cabo Takes All of Net Sul
Brazil’s largest cable television company, Globo Cabo, announced it plans to acquire Net Sul, the country’s second-largest cable television provider. Globo Cabo already owns 10% of Net Sul, and is […]
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IdeiasNet Lists Locally
Turbulence on Nasdaq has prevented many capital-hungry Latin American Internet companies from raising capital on the equity markets. However Brazil’s IdeiasNet, an incubator with 17 companies in its portfolio, has […]
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Itaú To Take Stake In AOL
Brazil’s second-largest private bank, Banco Itaú, plans to purchase a 12% stake in AOL Latin America. Itaú will buy shares when AOL Latin America goes public on Nasdaq, acquiring 6% […]
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Telmex and Bell Canada To Build Brazilian Network
Teléfonos de México (Telmex), Latin America’s largest telephone company, is venturing into the Brazilian telecommunications market through a $3.5 billion alliance with Bell Canada. Telmex plans to build a high-speed […]
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Telecom Italia Buys Brazilian Media Group
Italy’s largest telephone company, Telecom Italia, is paying $810 million cash for 30% of the Internet business of Brazil’s Organizações Globo, the largest media group in Latin America. This is […]
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Varig Names New President
Varig, Brazil’s main domestic and international airline, appointed Ozires Silva its new president following the ouster of Fernando Pinto in a boardroom power struggle. Silva is a former air force […]
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BellSouth Buys Brasilia Cellular Network
BellSouth paid $229 million for 16.5% of TeleCentroOeste Celular Participacoes, a Brazilian regional cell phone network that covers the capital Brasilia. BellSouth, which already operates BCP, one of two cell […]