Brazil

• Wednesday, August 7th 2024 - 09:00 UTC

  Lula lays the foundation stone of Chile's Space Center

  

  Brazilian President Luiz Inácio Lula da Silva Tuesday laid the foundation stone of Chile's planned Space Center at the Cerrillos Air Base in Santiago during a ceremony also attended by his local colleague Gabriel Boric Font. The two countries also signed a Memorandum of Understanding on Cooperation in Space Activities for Peaceful Purposes.

• Tuesday, August 6th 2024 - 20:31 UTC

  BCB's Copom would not hesitate to up Selic if need be

  

  Brazil Central Bank's Monetary Policy Committee (Copom) warned that it would not hesitate to up the basic Selic interest rate to make sure inflation meets the target if necessary.

• Tuesday, August 6th 2024 - 10:39 UTC

  Petrobras finds gas in the Colombian Caribbean and sets eyes on Namibia's potential

  

  Brazil's oil giant has reported the discovery of a significant gas resource from a well drilled off shore Colombia in the Caribbean. The Uchuva 2 well is some 32 kilometers from the coast at a depth of 804 meters. This new drill is considered an extension of a natural gas field drilled at the Uchuva 1 well back in 2022, at a depth of 830 meters.

• Tuesday, August 6th 2024 - 10:12 UTC

  Lula and Boric agree to have Bioceanic Corridor operational by 2025

  

  Presidents Gabriel Boric Font and Luiz Inácio Lula da Silva Monday agreed on the importance of speeding up the construction of the bioceanic corridor. They made those remarks while appearing at the Chile-Brazil Business Forum in Santiago. Later in the day, they also signed 19 bilateral understandings.

• Monday, August 5th 2024 - 08:52 UTC

  Lula lands in Chile to boost bilateral ties

  

  The Brazillian Air Force (FAB) jet carrying President Luiz Inácio Lula da Silva landed in Santiago Sunday evening. The visiting head of state was welcomed by Foreign Minister Alberto van Klaveren ahead of Monday's meeting with his Chilean colleague Gabriel Boric Font.

• Friday, August 2nd 2024 - 11:24 UTC

  PM Keir Starmer and Lula da Sila confirm close relations between Brazil/ UK 

  

  United Kingdom Prime Minister Keir Starmer spoke with Brazilian President Lula da Silva this week. The Brazilian President warmly welcomed the Prime Minister’s recent election victory, and the leaders discussed the close areas of collaboration between the UK and Brazil, including on climate and nature. 

• Thursday, August 1st 2024 - 23:00 UTC

  Petrobras increases yoy output in 2Q of 2024

  

  Brazil's State-run company Petrobras posted this week a 2.4% interannual increase in oil and natural gas output in the second quarter of 2024, with 2.7 million barrels of oil equivalent per day (boed) thanks to improving performances at five sea platforms and 12 wells, eight of them in the Campos Basin and four in the Santos one. However, compared to this year's first quarter of this year, average production fell 2.8% due to maintenance shutdowns and the natural decline of mature fields.

• Thursday, August 1st 2024 - 21:03 UTC

  Brazilian flag flies over Argentine Embassy in Caracas

  

  The Brazilian flag was hoisted Thursday at the Argentine Embassy in Caracas, where six Venezuelan asylum seekers were left behind by the departing diplomatic team.

• Thursday, August 1st 2024 - 09:11 UTC

  Brazil representing Argentine interests in Caracas

  

  Brazil's diplomatic mission in Caracas will be representing Argentina's interests starting Thursday at 9 am local time after the Venezuelan regime of President Nicolás Maduro expelled Buenos Aires' delegation given President Javier Milei's decision not to recognize the results of the elections announced last Sunday whereby the incumbent head of state would have been chosen for the 2025-2031 term.

• Thursday, August 1st 2024 - 09:07 UTC

  Brazil's Copom keeps Selic unchanged

  

  Brazil's Central Bank (BCB) Monetary Policy Committee (Copom) unanimously agreed Wednesday to keep the Selic basic interest rate at 10.5% per year, Agencia Brasil reported. The measure followed through on June's decision to stop the downward cycle that spanned from August last year until March this year, during which the Selic was lowered by 0.5 percentage points at each meeting until in May it was 0.25 percentage points.