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Brazil's Cosan says will focus on preserving cash SAO PAULO: Brazil's Cosan, the country's largest sugar and ethanol maker, said on Thursday on a conference call to market analysts that it will focus this year on preserving cash, gauging carefully any new investment opportunities.Copyright Reuters, 2015 ...

Thousands of women march in support of Brazil's Rousseff BRASÍLIA: Thousands of women rallied Wednesday in support of President Dilma Rousseff, whose poll numbers have plummeted amid a national scandal involving state oil company Petrobras.The beleaguered Brazilian leader addressed the gathering, vowing not to let the country go backwards, even amid difficult economic times."We won't allow any reversal of the social and democratic progress in our country," Rousseff declared to enthusiastic applause as the event wound down.The show of support comes just days after ...
Venezuela court allows house arrest for ailing dissident CARACAS: A leading Venezuelan dissident held for over a year will be allowed to leave prison and be placed under house arrest because of health problems, court officials said Tuesday. Daniel Ceballos has been in custody since March 2014, when he was arrested for his alleged role in organizing anti-government street protests.He will be transferred to home detention for unspecified health reasons, according to a statement from prosecutors, after his court appeal requesting house arrest ...
Brazil's Senate, Rousseff to launch market-friendly agenda BRASILIA: Brazil's President Dilma Rousseff and leading senators plan to launch an agenda of market-friendly proposals this week, Senator Romero Juca said on Tuesday, in Rousseff's latest attempt to rekindle economic growth and overcome a major political crisis. The so-called "Brazil Agenda," put forward by Senate President Renan Calheiros, was discussed at a Monday dinner with Rousseff and senators from her coalition base. The conversation suggests a rapprochement between Rousseff and Calheiros, which could help ...
Brazil's Caixa to further limit mortgage loans amid funding dry-up SAO PAULO: State-controlled Caixa Econômica Federal, Brazil's largest mortgage lender, plans tofurther limit disbursements of home loans amid a severe reduction in outstanding savings deposits in Latin America's largest economy.Starting Aug. 17, borrowers will be barred from taking more than one loan funded with savings deposits, a move aimed at preserving Caixa's depleting stock of savings deposits availablefor housing credit, the Brasilia-based lender said in a statement on Wednesday.Currently, homeowners with a mortgage loan at ...
Brazil's only Olympic worry? Getting enough medals BRASÍLIA: Brazil's sports minister, George Hilton, says he has only one real concern a year before Rio hosts the 2016 Olympics: the medal haul.In an interview in the capital Brasilia, Hilton told AFP that the focus is on Brazil getting an unprecedented slot in the top 10 rankings for Olympic medals.Rio's preparations for the Summer Games, the first to be held in South America, are going flawlessly thanks to the experience the country gained in ...
Brazil raises key interest rate to 14.25pc to curb inflation BRASILIA: Brazil's central bank raised its benchmark interest rate by half a point Wednesday to 14.25 percent, seeking to fight inflation during a major slump in the local currency.The bank's monetary policy committee COPOM decided in a unanimous vote to raise the Selic rate by 0.50 percentage points, the seventh consecutive raise. The half-point bump was the largest boost in nine years.On Friday, the real plunged to its lowest level against the dollar, adding to ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln