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America Movil, Telefonica, Oi to bid for Brazil's TIM: report

22 min 58 sec ago
SAO PAULO (Reuters) - Mexico's America Movil SAB, Spain's Telefonica SA and Brazil's Grupo Oi SA agreed to place a bid for and to break up TIM Participações SA , Brazil's second-largest wireless carrier, Folha de S. Paulo reported on Friday without saying how it obtained the information. According to Folha, the accord between the three companies was not fully finalized, but they agreed in ...

Brazil Auction Seen Driving $1 Billion Solar Investment

Thu, 10/30/2014 - 11:38pm
Brazil’s first national energy auction with a specific category for power generated from sunlight may spur as much as $1 billion in investment in solar power.

Can Brazil ETFs Rebound After the Hard-Fought Election?

Thu, 10/30/2014 - 12:09pm
Although incumbent Dilma Rousseff was narrowly reelected, the hard work of turning the economy around remains.

Brazil's first solar power auction to clear 500 MW of new plants

Thu, 10/30/2014 - 7:39am
Brazil will take its first leap into commercial solar power generation on Friday with a rights auction of at least 500 megawatts of new solar parks, adding a new energy source as a drought reveals the danger of depending on hydropower. Sun-kissed Brazil has one of the highest solar radiation factors in the world and plenty of land for solar farms, plus large reserves of silicon to make solar ...

Brazil's Bradesco cuts loan book growth, ups revenue outlook

Wed, 10/29/2014 - 9:35pm
Banco Bradesco SA , Brazil's second-biggest non-government bank, announced on Thursday the following operating estimates for this year: Bradesco's loan book rose 7.7 percent in the 12 months through September. 2) Bradesco expects to grow disbursements of corporate loans between 6 percent and 10 percent, and consumer credit between 8 percent and 12 percent this year. 5) Bradesco kept the estimate ...

Brazil shocks with interest rate hike in wake of election

Wed, 10/29/2014 - 3:17pm
Brazil's central bank raised interest rates on Wednesday, surprising investors with a bold move that signals President Dilma Rousseff could make more market-friendly policy changes after her narrow re-election victory on Sunday. In a divided vote, the central bank's board decided to raise its benchmark Selic rate (BRCBMP=ECI) by 25 basis points to 11.25 percent. With the hotly contested ...

Brazil shocks with interest rate hike

Wed, 10/29/2014 - 3:03pm
Brazil's central bank raised interest rates, a move that signals President Rousseff could make more market-friendly policy changes.

Brazil lifts key rate to 11.25%

Wed, 10/29/2014 - 1:19pm
Brazil's central bank on Wednesday raised its key interest rate by 25 basis points to 11.25 percent -- the first hike since April -- in the wake of leftist Dilma Rousseff's re-election as president. "In the light of this, the committee considers it opportune to adjust monetary conditions" in order to facilitate a "more benign scenario for inflation in 2015 to 2016," the bank said in a statement ...

EMERGING MARKETS-Brazil's real extends gains as investors digest election

Wed, 10/29/2014 - 4:33am
Brazil's currency strengthened for a second straight session on Wednesday as investors reconsidered the market impact of President Dilma Rousseff's reelection. Regional stock markets were mixed, with Brazil's Bovespa down nearly 1 percent and Mexico's IPC index up 0.5 percent. "Everyone expected the dollar to explode (against the real) this week, but it didn't happen," said Jankiel Santos, chief ...

Brazil's Cielo sees challenging year in 2015

Wed, 10/29/2014 - 3:49am
Cielo SA, Brazil's largest card payment processor, sees a challenging year ahead as an economic slowdown in Latin America's largest economy leads to slower growth and tougher competition. "We will have a very challenging 2015, and we may eventually suffer the consequences of a sharp slowdown in consumption," Cielo's Chief Executive Officer Romulo Dias said in a conference call to discuss third ...

Brazil set to hold interest rates ahead of policy changes

Wed, 10/29/2014 - 3:36am
Brazil's central bank will likely keep interest rates steady for a fourth straight time on Wednesday, holding its ground until President Dilma Rousseff announces changes to economic policy following her narrow re-election victory. All 43 economists surveyed in a Reuters poll expect the central bank to keep its benchmark Selic rate unchanged at 11 percent. After narrowly defeating centrist ...

At Brazil auto show, industry wonders if it can get any worse

Wed, 10/29/2014 - 2:51am
By Brad Haynes and Alberto Alerigi SAO PAULO (Reuters) - Automakers in Brazil are facing the sharpest slowdown since 1999 and it could be a year or more before things turn the corner. It is tough to find a sunny 2015 forecast at the Sao Paulo Auto Show this week, where companies accustomed to a market growing by double digits are now considering three straight years of declining sales. ...

Brazil set to hold interest rates ahead of policy changes

Tue, 10/28/2014 - 7:00pm
Brazil's central bank will likely keep interest rates steady for a fourth straight time on Wednesday, holding its ground until President Dilma Rousseff announces changes to economic policy following her narrow re-election victory. All 43 economists surveyed in a Reuters poll expect the central bank to keep its benchmark Selic rate unchanged at 11 percent. After narrowly defeating centrist ...

Tractebel Sees Brazil Power Rationing in 2015 If No Rain

Tue, 10/28/2014 - 6:51pm
Brazil may face energy rationing and higher power prices in 2015 unless it gets rain in the first few months of next year.

Markets see stable Brazil rates outlook

Tue, 10/28/2014 - 8:17am
Brasília (AFP) - Analysts say Brazil's central bank will keep interest rates on hold at 11 percent following a two day meeting which began Tuesday in the wake of leftist Dilma Rousseff's re-election as president. Although Brazil fell into recession earlier this year, the bank's weekly survey of 100 market watchers indicated they did not expect the rate to change before next year at the earliest ...

Rousseff's win in Brazil raises questions about EM reforms

Tue, 10/28/2014 - 7:58am
By Sujata Rao LONDON (Reuters) - Pledges of reform in emerging markets have encouraged investors this year, but Brazil's vote against any change at the top of its government is raising questions over whether the reforms will be delivered in hyped-up markets like India and Indonesia. Leftist Dilma Rousseff won re-election as Brazil's president by a slim margin over business favorite Aecio Neves ...

Brazil Electoral Commission Uses Smartmatic Technology to Expedite Presidential Election Results

Tue, 10/28/2014 - 7:19am
Smartmatic, the world's leading voting technology provider, used its satellite technology to expedite the results during the two rounds of presidential elections held in Brazil thi

EMERGING MARKETS-Brazil markets rebound after election sell-off

Tue, 10/28/2014 - 3:17am
Brazil's currency and stock markets rose on Tuesday as bargain hunters stepped in after a sharp sell-off sparked by the re-election of President Dilma Rousseff. Rousseff's victory over market-friendly challenger Aecio Neves on Sunday led Brazil's real to close at a 9-1/2-year low on Monday. The gains were also boosted by speculation that Rousseff would take a slightly more market-friendly stance ...

Rousseff Says Market Will Calm as Brazil Works for Growth

Mon, 10/27/2014 - 4:00pm
Brazil's financial markets will calm down following yesterday's declines as the country's new government engages in dialogue to promote growth, President Dilma Rousseff said after winning re-election. "The correct way to do things is to open up dialogue," Rousseff told "Jornal da Record" in her first televised interview since her Oct. 26 victory. Brazil's first female president will have to pull ...

Newly re-elected Brazil leader faces house divided

Mon, 10/27/2014 - 3:15pm
RIO DE JANEIRO (AP) — Brazil's re-elected leader Dilma Rousseff on Monday faced a house divided after a bitterly fought election that culminated in the narrowest presidential win since the nation's return to democracy three decades ago.