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Brazil enters recession in pre-election blow to Rousseff SAO PAULO: Brazil suffered a recession in the first half of the year as investment plunged and the country's hosting of the World Cup suffocated economic activity, a major blow to President Dilma Rousseff's already diminishing hopes for reelection in October. Latin America's largest economy has suffered stagnant growth for more than three years under Rousseff's left-leaning policies, which have dented consumer and business confidence and caused heavy losses for financial investors. The economy took an even bigger downturn in the second quarter, contracting 0.6 percent from the first quarter, according to government statistics agency IBGE.The agency also revised down its estimate for first quarter activity to a 0.2 percent contraction, meaning the economy entered a recession. News of the recession, Brazil's first since the global financial crisis of 2008-09, will give a powerful weapon to Rousseff's opponents in the Oct. 5 election at precisely the moment that her candidacy ...

Brazil cracks 'biggest' Amazon deforestation gang SAO PAULO: Police in Brazil have broken up an Amazon deforestation gang considered the worst currently active, officials said on Wednesday.The gang would invade public land in northern Para state, burn down forest, divided the land into parcels and sell them, federal police said in a statement.The group is responsible for environmental crimes to the tune of $230 million, said the Brazilian Environmental Institute.There was no word on how many people were arrested."The suspects are ...
Colombian rebels free geologist hostage BOGOTA: A Colombian geologist abducted in June, reportedly by a left-wing guerrilla group, has been freed, police told AFP on Wednesday.Andres Felipe Calle was kidnapped in the northern town of Curumani while doing mapping for the Colombian geological service (SGC) on June 29.On Tuesday he was released in good condition in the city of Aguachica, about 100 kilometers (60 miles) south of where he was captured, said Cesar Bohorquez, president of the police anti-kidnapping and ...
Argentina says wants to bring all debt under Argentine law BUENOS AIRES: Argentina's government said on Wednesday its long-term plan was to bring all its sovereign debt governed by foreign law under Argentine legislation.Latin America's No. 3 economy tipped into default on July 31 after a US court prevented it from servicing debt held under US legislation until it had settled with a group of US investment funds suing the country over their bondholdings."The idea is to bring all of it under Argentine jurisdiction," Carlos ...
Top Colombian drug hitman 'Popeye' is freed BOGOTA: The head of Colombian drug kingpin Pablo Escobar's hitmen, a confessed murderer nicknamed "Popeye," was released from prison Tuesday after helping prosecutors convict a former justice minister.John Jairo Velasquez Vasquez has confessed to killing 300 people and organizing the killings of 3,000 others, but walked free from the Combita high-security prison in central Colombia after completing 22 years of his 30-year sentence for murder, police and judicial sources said.The hitman was convicted for the ...
Brazil prison riot ends with five dead CASCAVEL: Rioting inmates who took over most of a prison in Brazil killed five fellow prisoners, beheading at least two of them, before ending the uprising early Tuesday and releasing two hostage guards.The riot, which erupted Sunday, ended after authorities reached a deal with the prisoners to transfer 850 inmates to other jails from the prison in Cascavel in the southern state of Parana.Five prisoners were killed and 25 wounded in the violence, said Elson ...
Ebola ruled out in Bolivia case LA PAZ: Health authorities here said on Tuesday they had ruled out Ebola in a traveler from India who arrived ill at Bolivia's Santa Cruz international airport.The Health Ministry said the man, who was not identified, underwent medical examinations and doctors concluded his symptoms "were not compatible with those of the Ebola disease."Just 10 days ago the ministry set rules on early detection of potentially infected people in South America's poorest nation.The man arrived Saturday ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln