Events

Balé de Rua
Brazilian dance spectacular to heat up Sydney this summer
8 – 17 January 2010

Concert Hall
“a freewheeling mix of religion and rhythm, high spirits and serious intent…a joy to behold” The Guardian

With a pulsating mix of African dance, hip-hop, samba and capoeira, Brazil’s Balé de Rua will send temperatures soaring when they storm the Sydney Opera House for just 11 shows this summer. A sell-out in Paris, a triumph in Edinburgh and a hit in London, this international blockbuster is certain to be a sure-fire hit of Sydney Festival 2010. As colourful as the streets from where they hail, the cast of 14 men and one woman will explode onto the Concert Hall stage in an adrenaline-fuelled spectacle of life, love and the Brazilian way.

Sydney Opera House Chief Executive Richard Evans said the ever-growing popularity of dance would make Balé de Rua the ideal show for January. "Hot on the heels of our recent Spring Dance festival which saw the entire precinct come alive with dance, Balé de Rua brings the moves, music and magic of Rio's Carnivale to the Concert Hall. What better way to experience Sydney in the summer?" Mr Evans said. Choreographed by Marco Antônio Garcia, a self taught dancer, in collaboration with the French director Paul Desveaux, Balé de Rua (Street Ballet) traces the country’s history from its African roots to contemporary Brazil. Garcia’s invigorating and breathless choreography is an awe-inspiring display of athleticism and raw energy – you’ll be hard pressed to find a more sculpted human body. Along with original music and traditional melodies, the dancers create a blaze of percussion live on stage in a carnivalé celebration of breaks and beats. Influenced by the daily life of the dancers, most of whom survived by doing odd jobs in the favelas of Brazil’s big cities, Balé de Rua represents the cultural melting pot of Brazil. Seamlessly creating worlds of slavery, grief, joy and liberation, this group of friends paint the world anew in glorious technicolour, thanks to the magic of dreams and dance. Discovered at Lyon’s Biennale de la Danse in 2002, Balé de Rua will make its Australian debut following triumphant performances at London’s Barbican Centre and Edinburgh Fringe Festival where the company picked up a Herald Angel Award. Fernando Narduchi, Marco Antônio Garcia and José Marciel Silva created Cia de Danca Balé de Rua in 1992 after discovering a shared passion for an urban style of dance but with a marked Brazilian identity.

The company, which provides dance training to young people from all over the working class districts of Uberlandia in central Brazil, opened its own cultural centre in 2007 with funding from the Brazilian Ministry of Culture. Dynamic percussion and breathless body movements ensure this exhilarating and sensual street ballet will have audiences dancing on their seats.

“Stunning…if only I’d have a sixth star at my disposal.” The Scotsman

SEASON DETAILS
Dates: 8 – 17 January 2010 Times: 8, 10 11, 13, 14, 15 Jan 8pm, 9 Jan 2pm, 16 & 17 Jan 2pm & 8pm
Venue: Concert Hall
Tickets: Premium $99, A Reserve $79/$69 B Reserve $69/$59, C Reserve $59/$49
Duration: 70 minutes
Bookings: 9250 7777 or sydneyoperahouse.com
Media Contact: Nathan McIlroy, Senior Publicist, Sydney Opera House
T: 02 9250 7596 M: 0434 146 121 E: nmcilroy@sydneyoperahouse.com
Source: http://www.sydneyoperahouse.com/Templates/Common/ContentPage.aspx?id=21361&LangType=3081&ekfxmen_noscript=1&ekfxmensel=e0fa05764_102_419

Warriors of Brazil

This sexy, stylish and athletic showcase of Brazilian dance, martial arts and soul comes straight from the slums to you.



When: 19 - 23 January 2010
Where: Theatre Royal
Tickets: 1300 795 012 Ticketek

The dangerous favelas or shantytowns of Brazil have bred some breathtaking artists in recent years. Who can forget the passions displayed on screen in the 2002 film City of God or the brilliant electro-punk rhythms of Cansei de Ser Sexy aka CSS?

The latest cab off the South American rank is Warriors of Brazil, a spectacular stage show fusing the inspirational martial art of Capoeira with the spirit and sensuality of Carnival. Capoeira reputedly originated in the 17th century among African slaves transported to Brazil, as a fighting style designed for rebellion but disguised as dance so as not to alert their masters. It's a demanding but beautiful sport, and is admirably performed by the super-fit young men of Warriors of Brazil, each of whom has escaped from a world of gang warfare in the ghettos of Salvador de Bahia, the former epicentre of the African slave trade, thanks to a social development program designed to reduce crime through art. Collectively, they are masters of Capoeira, and are captivating audiences around the world while simultaneously spreading a message of hope for Brazilian youth. Joining them on stage are the singers, dancers and percussionists of Rhythm Carnival, hailing from the favela of Candeal, which famously saved its young people from a life of violence by encouraging them to trade their weapons for musical instruments. Transforming the pain of their past into a fierce and wild beauty, the muscular energy and precision of this vivid and athletic show will have you gaping in awe as the performers back flip, kick, fly and somersault across the stage, accompanied by the infectious tunes of Rhythm Carnival. A spectacular evening of entertainment that will set your pulse racing.

Richard Watts, Citysearch
Source: http://sydney.citysearch.com.au/arts/1137728329016/Warriors+of+Brazil

ABCC – Forthcoming Events

South Australia-Brazil Christmas Drinks

Proudly sponsored by Study Adelaide, South Australia

Date: Thursday, 10th December 2009
Time: 6:00 pm to 8:00 pm
Venue: Maxim’s Wine Bar
Address: 194 The Parade, Norwood (Upstairs, opposite Town Hall)
Dress Code: Casual

With Live Brazilian Music from 8:30pm (Finger foods provided, buy your own drinks)

Click HERE to download the invitation
RSVP by 16th November to abcc@australiabrazil.com.au or fax: (02) 9908 5826.

ABCC-ALABC World Cup Trade Mission 2010

Join us to explore opportunities surrounding the World Cup 2014 and Rio Olympic games 2016 in sport & event management, infrastructure, hospitality, etc

Expressions of interest: please contact us on: info@australiabrazil.com.au

In Sydney: Brazilian Jazz in Balmain

Enjoy Brazilian Bossa Nova live music this Sunday, 6th December from 4pm to 7pm at the Exchange Hotel (Corner Beattie and Mullens Streets, Balmain).

For more information contact Peter McDonough on: petermacdonough@doorways.org

In Perth: Brazilian Music at the Beach

A duo with musicians Juliana Areias and Jose Henrique Alves from "So Brazil"

Date: Wednesday, 9th December from7:30pm onwards

Venue: Salt on the Beach (44 Port Beach Rd)

For durther information: www.sobrazil.wordpress.com

ABCC - Feed Back on Events

Queensland-Brazil Business Club Luncheon with the Hon. Peter Beattie

The Hon. John Mickel, The Hon. Peter Beattie, Cristina Talacko, His Excellency Ambassador de Mello Barreto, Rodrigo de Lucca (ABCC QLD)

Décio Amaral - Vale, The Hon. Peter Beattie, Iain Mars - JBS Swift

The Australia-Brazil Chamber of Commerce hosted the second QLD-Brazil Business Club luncheon on 22 October at the Customs House in Brisbane. The event was attended by 150 persons with the presence of the Hon. Peter Beattie, QLD’s Trade Commissioner for the Americas, based in Los Angeles, who delivered a positive speech about Brazil’s economic potential and the need for greater engagement between the countries.
His Excellency Ambassador de Mello Barreto, Iain Mars (CEO - JBS Swift) and Decio Amaral (CEO Coal Vale) were also speakers at the function and acknowledged the rapid growth of the Australia-Brazil trading connection and outward and inward investment especially in agribusiness and mining.

The ABCC thanks Vale for sponsoring the function and Trade Queensland for their continuous support to the QLD-Brazil Business Club.

To join the QLD-Brazil Business Club contact us on: abcc@australiabrazil.com.au

WA-Brazil Networking Drinks
By Jose Santiago – ABCC WA

On October 29th a first WA networking session took place in Perth CBD. It was well attended with 45 people showing great interest for opportunities in Brazil and Australia re business growth, establishment of new business and cultural aspects that could better link both countries. As WA and Brazil share a great interest for growing the resources industry (mining, oil and gas) several people from engineering and resources areas took time to discuss their business and potential opportunities ahead. Another point of interest was the potential opportunities due to the upcoming 2014 Soccer World Cup in Brazil and the Rio de Janeiro Olympic Games in 2016.

Overall the diversity of backgrounds and business sectors impressed most of the people in attendance. The future plans for ABCC in WA include strengthening our representation in the west to support further events leveraging from the relationship with Austrade to assist in further networking.

Victoria-Brazil Christmas Cocktail

Cristina Bell, Osanan Barros (ADA), Paulo Jardim (Counsellor - Brazilian Embassy), Cristina Talacko (ABCC), Crispin Conroy (Austrade's Trade Commissioner - LatAm) and Leith Wale (ABCC)

Pacific Hydro representatives

The ABCC hosted a networking cocktail for members sponsored by Australia Drilling Associates (ADA) in Melbourne with the visit of Austrade's Senior Trade Commissioner for Latin America, Mr. Crispin Conroy. Amongst guests were Counsellor Paulo Jardim from the Brazilian Embassy in Canberra, Roger Frankel (Honorary Consul of Brazil in Victoria), John Bell (CEO - ADA), The Hon. Telmo Languiller (Parliamentary Secretary for Human Services), Pacific Hydro, Deugro Logistics, Latrobe University, Suzlon Energy, Deugro Projects, HSBC, Karoon Energy, Westpac. Mr. Crispin emphasized the opportunities for Australian companies as Brazil is hosting the World Cup 2014 and Olympics in 2016 as well as Australia's participation for the first time at the International Innovation and Technology Exhibition INOVATEC, to be hosted in November 2010 in Belo Horizonte.

ABCC New Members

The ABCC welcomes the following new members

Adam Fitzpatrick – Seraphim Risk Management
John Pereira – Atlas Capital Management Pty Ltd
Jim Geltch – Nuffield Australia Farming Scholars
Luis Alexo – Wallace Group
Richard Rains – Sanger Group

Tim Harcourt writes to ABCC – “From Rio to Freo”

From Rio to Freo: are we going nuts for Brazil?

Tim Harcourt
Chief Economist
Australian Trade Commission
Sydney
www.austrade.gov.au/economistscorner

Is it now officially the ‘age’ of Brazil, with the charismatic and populous South American nation picking up the rights to host both the FIFA World Cup in 2014 and of course the Olympic Games in Rio de Janeiro in 2016? Is Brazil, after many false starts, looking like it will fulfil its promise of being one of the world’s great economic powerhouses? Of course, the world has constantly waited (and hoped) for the economic rise of Brazil. Distinguished commentators such as US economic historian Charles Kindleberger, often predicted the Brazil would be the next big thing in the world economy and Brazil’s recent economic performance to stave off the worst impacts of the global financial crisis (GFC), has given some reasons for the Brazil boosters to feel optimistic.

Brazil’s most recent economic surge has come under the stewardship of presidency of Luiz Inaico Lula da Silva, known affectionately as ‘Lula’. In 2002, on my first visit to Brazil, there were mixed feelings about Lula as he was about to run for the presidency for the fourth time for PT, (translated as ‘the Workers party’), the party he founded during the return to democracy. In Sao Paulo, there were doubts about his agenda, but in Rio de Janeiro and particularly in the southern state of Porto Alegre, a PT stronghold, where I spoke at the World Social Forum there was a lot of support. In the end, Lula won the election and also managed to be re-elected again in 2006 with a comfortable majority.

Over this time, Brazil has had to face a number of economic and social crises that have been both external and domestic in nation. When Lehman Brothers failed, and the sub-prime spread throughout the world, the markets looked closely at Brazil, which after all, had experienced a major financial crisis as recently as 1998 under Lula’s predecessor, Fernando Cardoso.

But of all the emerging economies, Brazil has performed reasonably well in the GFC. The credit crunch didn’t knock much of a hole in the ‘BRIC’ (Brazil, Russia, India and China) wall, although one of the ‘BRICs’, Russia has had its usual share of financial difficulties.

So why has Brazil done well? Trade is one reason. Lula has resisted the protectionist impulses of some of his populous supporters and Brazil has actively forged strong relations with other emerging countries not just in Latin but also in Asia and Africa. This has been part of Brazil’s ‘South-south’ strategy although Lula has played a key role in engaging with the developed economies too at the G20. Given Brazil’s large domestic market, (exports are only 15 per cent of GDP) it is to their credit that they have pursued an open trade agenda. Whilst China drove Australia’s export growth in the middle of this year, Brazil too has benefited from ‘bamboo shoots’ as well as ‘green shoots’. According to Banco Santander, 79 per cent of Brazilian exports to China are agriculturally based, though Brazilian exports to the rest of the world are more focussed on energy and manufactures.

Another reason is that Brazil only needed a modest stimulus package, at around 1.5 per cent of GDP, to keep the engine running in the GFC. The work on economic reform and his predecessor Cardoso to embrace fiscal discipline, inflation targeting, and a floating exchange rate, meant less spending was needed during the credit crunch. The Brazil of 2009 looks very different from the Brazil of 1979, when most South American countries experienced financial instability and its associated political fall out. Brazil is now different and foreign investors and trading partners are treating it accordingly.

So what are the opportunities for Australia? According to Greg Wallis, Australian Senior Trade Commissioner in Sao Paulo, “traditionally Australians have thought of Brazilians as competitors in primary exports, but increasingly we are collaborators in a whole range of industries from oil and gas production, to agribusiness, ethanol, biotechnology and financial services. It’s as much an investment story here now as it is a trade story.” There are now over 500 exporters to Brazil with major Australian players like Pacific Hydro, Mincom, all playing a role in Brazil, and Brazilian giants such as JBS and Vale investing in Australia. Wallis believes, that whist there is still “much to do to get Brazil on the radar in Australia” big events like the World Cup and the Olympics in Rio will help and “Brazil’s similarities in Australia in agriculture and resources means that investment in clean energy and related technologies to reduce emissions is spurring activity by both countries – often in concert.” And according to Cristina Talacko, the head of the Australian-Brazilian Chamber of Commerce, climate change is creating more collaboration between the two countries from Rio to Freo (Fremantle). “Many of our members are involved in environmental industries and with the challenges of Copenhagen occupying the minds of the world’s leaders and with both countries having a strong clean energy focus, Australia and Brazilian companies will be part of the solution,” she explains.

In 2010, it will be Lula’s last year. In 2002, the year of Lula’s first election (after 3 tries), Asia hosted the world cup for the first time – in Korea and Japan – and Brazil won for a record fifth time. In 2010, it is Africa’s turn as South Africa is the host and Brazil is again a chance to win, as always. Lula over his term has worked very hard on Brazil’s economic links with both Asia and Africa. But after South Africa 2010, Lula will be gone (there a two term limit on the Brazilian presidency like in the USA), and Brazilians will be pondering Lula’s legacy (rather than ‘Lula’s lunacy’ as was predicted by some of his detractors when I interviewed them in Sao Paulo 2002). Of course, one legacy of Lula, will be the fact that Brazil won the 2014 World Cup and the 2016 Olympics under his watch, so we’re guaranteed two big parties – Brazilian style of course – but hopefully they’ll be an economic legacy from his term as well. A sound legacy would be one in which Brazil engaged with the world, drove economic growth for the region and for the emerging nations, and reduced the terrible crime and poverty that exists in the 200 million strong nation. For one thing, I am sure, Charles Kindleberger would be glad to have been proved right on Brazil, once and for all.

*Tim Harcourt is Chief Economist with the Australian Trade Commission and the author of The Airport Economist (www.theairporteconomist.com ).

Interview with ABCC Vice-President in NSW, Bruno Fiorentini to "Falamos Português"

A Man of luck

He is the founder of the fan club Sydney-Flu, who for now only has three members but is desperately on the lookout for new die hard supporters. Jokes aside, at 41 years of age Rio de Janeiro (RJ) Bruno Fiorentini is father of Bruno, 13, Beatriz, 11, and Mariana, 6, and husband to Monica. He is also the COO (Chief Operating Officer) of the Yahoo!7 portal in Australia. The career of this executive, which began as an economist in the National Bank (Brazil), has seen many highlights such as being a partner in the agency, Media Lab (one the first Brazilian companies in the field of the Internet) and president and founder of Yahoo! in Brazil before going into chief position of operations of Yahoo!7 in Australia.

In the interview below, Bruno shows his love for Rio de Janeiro, the security and comfort he feels living in Sydney and some advice who wish for a successful career like this.

Tell us about your professional qualifications and the start of your career.
I am qualified as an economist as I got my degree from the University of Candido Mendes of Ipanema and my MBA in Marketing at the University Pontificia Catholic of RJ. Like any good economist, I began working for the National Bank where I stayed for four years and left during the time when they merged with Unibanco. In 1995 I teamed up with a friend who was already involved with Internet. He called to become a partner at Media Lab to be responsible for the commercial aspect of the business. We founded the business which was one of the larger of the first sites in Brazil, which was when I learnt about the Internet. At the end of 1998, Yahoo! wanted to go to Brazil and so they got in contact with me. After many talks, I left Media Lab and went to Yahoo!. We opened an office in Brazil and Argentina and I built up the whole team in both countries. We opened up in June of 1999 in Brazil and in December of the same year in Argentina. For the next seven years I stuck around negotiating through South America.

When and how did the opportunity to come to Australia occur?
When Yahoo! become involved with channel 7, they invited me to represent Yahoo! over here. In contrast to the rest of the world, we have a larger production of content over here, which has been a new interesting experience.

How was the experience of moving?
I wanted to do something different as I was there seven years. My family adapted well here and today my plans are to stay in Australia. I think the adaptation process was difficult, but today we feel at home. In a professional sense, I prefer the way they go about business here as the focus is more objective and results driven. We have a multicultural team with Brazilians, English, Australians and Chinese, which are of immense quality.

How was the initial professional contact with your team?
It was an absolute panic (laughs). I was introduced to 10 people in the team during the first meeting and sat down thinking my English was fluent; however, after everyone began speaking I felt lost because the Australian accent is complicated in the beginning. I had to ask everyone to send me emails. In the first month I became very tired because I tried to understand everything. After a while things started to flow naturally, especially because I could count on my family’s support. This is an important issue, the support of the family. It is fundamental for an executive who leaves his or her country. My wife allowed me to concentrate solely on my work and she took care of the rest.

Did you come across any prejudice for being Brazilian?
I don’t think so as Australia is very multicultural. There is no prejudice here but at the same time there is no celebration as such. No one threw any party for me being Brazilian. The focus here is to work. I think this is an interesting aspect of the Australian people. Their point of view on things is very different to Brazilians over there as everyone has a title: the judge, the mayor, the doctor, the manager, etc. In Brazil we have well defined class systems. Here there is also defined social class, however because people all have a respect for their job, everyone is looked upon as equals. In Brazil, there is more admiration for the boss.

Tell us about the participation in the Chamber of Commerce between Brazil and Australia.
In reality, Cristina Talacko (president of the Chamber of Commerce) got in contact with me last year. I went to a few events of the department and accept her request to make me vice-president. The department encourages trade between Brazil and Australia and I think we have much in common with one another. The NAB (National Australia Bank) for example, will be opening an affiliate office in Brazil. Our idea is to create business between the two countries and show what Brazil has to offer and vice versa for Australia. We already have people with ideas to expand this trade between the two countries.

What do you miss most about Brazil?
The good humour from the Rio de Janeiro people or ‘carioca’ in the way they view life. The carioca knows how to have a joke and this is what I miss most. Here it seems people are more in line with the rules; we talk, drink and hang out but the jokes are simpler. The carioca jokes about serious issues and I think this helps us take life a little lighter. Oh, and I miss Fluminense also, I still cry watching their matches.

What are your plans for the future?
To grow some roots here in Australia. I really want the Chamber of Commerce to work between Brazil and Australia.

Source: Falamos Português Magazine

To see the online article, please click the link - http://www.falamosportuguesmag.com/online_ed8/Default.html

Special article from ABCC Member – Sanger Group

Sanger Australia and Brazil

Established as a meat export trading company in 1973, Sanger Australia Pty Ltd has built an international sales network for Australian meat products which is second to none.

Privately owned and proudly Australian, we provide international buyers with access to the very best Australian meat - from the right places, at the right times, all year round.
Whilst the majority of meat supplied by Sanger Australia by far is beef, we also source and supply other types of meat and meat products for our export clients including veal, mutton, lamb, pork, kangaroo, chicken and associated by-products - all from highly reputable processors across Australia.

Our extended network of contacts and suppliers provides us with year round access to high-quality meat from a number of different regions, thus enabling us to minimise the impact of seasonal variations in product availability.
Long term partnerships with major supplying processors have given Sanger Australia a strong competitive edge in the meat export industry.
The extent of our supplier base and its combined volume makes it possible for Sanger to provide reliable on-time deliveries of high quality meat all year round, which in turn enables our customers to better manage their inventory position.
Sanger is in constant contact with world markets and gains vital global market intelligence every day. This invaluable information is continuously fed back to our suppliers to enable them to make important production decisions according to supply and demand.
Our supply partners are focused on sourcing livestock raised in a clean, green, safe and natural environment. They are experts in procurement, production and processing, and in each case Sanger takes full responsibility for their entire export marketing, sales, shipping and documentation.
Sanger Australia is responsible for some 10% of all meat exported from Australia and according to the 2009 BRW magazine, Sanger was ranked 129th among Australia’s 500 biggest private companies.

Sanger Brazil

Sanger identified an opportunity and opened its office in Brazil in 2007. The main focus for the Brazilian office is the export marketing of chicken and the operation is very similar to that in Australia in that we market the export production for abattoirs. In Brazil, we chose to begin operations in the state of Paraná, more precisely next to the poultry abattoirs belonging to an important local Co-operative that was created and based on the same passion and vision opportunity of 19 producers.

These poultry producers’ experience, added to Sanger’s exporting tradition and has made some of this co-operatives members, the main partner of Sanger Brasil for poultry meat. Nowadays, Sanger not only has an office in the state of Paraná, we also have another one in the city of São Paulo, to promote faster contact with clients.
The Brazil operation is staffed by an all Brazilian team and the operation is headed up by Ms Ilonka Eijsink (General Manager for Sanger Brazil).

She graduated in Agriculture Engineering in the University of São Paulo (2000) and has focused her career since 1998 in production, marketing and international meat trade. She worked for Socopo in Europe, South America and Australia, and in 2006 moved to Australia to start its work in the headquarters of Sanger. In 2007, after a rich experience in diverse cultures and countries, she opened a subsidiary in Brazil to export beef, pork, poultry and lamb. She has a master degree in Agribusiness and Consumer Behavior from Wagenigen, Netherlands, post graduation in meat technology at the Instituto de Tecnologia de Alimentos - ITAL, Campinas and a specialization in the Agribusiness Policy for the European market from Rennes, France.
Sanger Brazil regularly exports frozen poultry to some 20 markets around the world on a regular basis and the main markets are Middle East/Hong Kong/Japan/West Africa/Europe/South Korea & China among others.

We have a long way to go with our business in Brazil as we are feeling our way and slowly growing the business with very solid foundations. We are fortunate that many of the customers for chicken from Brazil are the same as those for the meats from Australia so the businesses are a natural fit with each other.
Agriculture in Brazil is on a scale unlike that in Australia and the prospects are enormous, so long as the relevant controls are in place and they are followed.

Source: Sanger Group

Economy

Brazil's Mantega: Econ Growth Could Reach 6%-6.5% In 2010-2016

Brazil's economy has begun a new cycle of growth based on a robust domestic market that could reach rates of 6% to 6.5% over the coming six years, Brazilian Finance Minister Guido Mantega said Tuesday.

Speaking during a debate on future economic policy at the country's National Confederation of Industries, Mantega said Brazil emerged from a recent international financial crisis in good shape due to efforts to achieve accelerated growth in recent years.

"We were able to move quickly out of the latest crisis thanks to our previous robust growth cycle," he said. "We are already taking the first steps of a new cycle of expansion."

The minister noted that future growth would depend greatly on rates of investment, but said the prospects in coming years were good.

"To drive the new cycle we will depend fundamentally on the domestic market, but we'll also depend on investment," he said. "To give continuity, we have a large group of projects to stimulate investment, from energy, fuels, transportation and housing, to the World Cup soccer tournament and the Olympics."

Mantega said the government hoped to continue reducing local financing costs and offering more tax incentives to attract investment.

At the same time, however, he said that the government remained attentive to the effects of incoming foreign investment on the exchange rate.

"Some appreciation of the real is normal, but we need to avoid exaggeration," he said.

Brazil's currency, the real, has appreciated about 35% so far this year against the dollar under the effect of strong investment inflows.

Mantega said the recent imposition of a 2% tax on incoming portfolio investment has so far been efficacious.

"A month after introducing this measure, we can say that it has worked toward reducing volatility," he said. "We're not trying to impede appreciation, but eliminate excesses."

Mantega said the measure would help eliminate the risk of a bubble in local markets. However, he said the measure would not necessarily be made permanent.

By: Gerald Jeffris

Source: The Wall Street Journal

Financial Market

Citigroup Asked Brazil To Buy A Stake In Bank-Energy Min
November 24, 2009

Brazilian Energy Minister Edison Lobao said Tuesday that Citigroup earlier this year asked the Brazilian government to buy a stake in it as the bank was seeking a cash infusion.

The government reviewed the offer, he said, but declined to take a stake.

"Citigroup offered the Brazilian government the chance to buy stock during the financial crisis," Lobao said after a presentation at the Brazilian-American Chamber of Commerce. "The bank was in a lot of difficulties, but the Brazilian government concluded that the country had to emerge from the financial crisis first."

Citigroup had no immediate comment on the energy minister's remarks. The Brazilian government also declined to comment further.

The proposal from the banking giant is another sign of Brazil's status as one of the developing countries that's weathered the financial crisis better than developed nations. The country has won investment-grade ratings from all three major rating agencies. It also recently agreed to purchase up to $10 billion in bonds from the International Monetary Fund, after decades of being a debtor to the IMF.

Lobao noted that Brazil exited the recession faster than expected, with the government forecasting that growth will exceed 4.5% in 2010.

Lobao said that the talks with Citigroup occurred "probably in the beginning of this year" and took place in the U.S.

Lobao declined to give details on the size of the stake Brazil was offered. He said he assumed the terms of the deal would have been similar to those agreed with other governments, including the U.S.

Over the course of the financial crisis, Citi has sold stakes to several large state-owned foreign investors, including the Abu Dhabi Investment Authority, the Government of Singapore Investment Corporation Pte Ltd, and the Kuwait Investment Authority, in an effort to improve its capital position.

At the height of the financial crisis last autumn, the U.S. government stepped in to bail out the banking sector, including Citi. It now holds a roughly 34% stake in the bank after injecting some $55 billion.

Lobao added that, in hindsight, Brazil made a misstake by not buying a piece of the bank. We "missed a good opportunity to make big profits, besides the great prestige that it would (have) conferred on Brazil."

The deal was analyzed by the heads of central bank and the Finance Ministry as well as the President Luiz Inacio Lula da Silva, Lobao said.

By: Fabio Alves
Source: The Wall Street Journal

Brazil Central Bank: Aldo Mendes Named Monetary Policy Director
November 18, 2009.

Brazilian Central Bank President Henrique Meirelles has named Aldo Luiz Mendes to serve as the bank's monetary policy director, the institution said Monday.

Mendes, 51, is currently president of the Alianca do Brasil insurance company and until earlier this year served as vice president for Finances, Capital Markets and Investor Relations at Brazil's state-controlled Banco do Brasil. He also previously served as vice president of Brazil's National Association of Financial Market Institutions, or ANDIMA, and as a member on the administrative board of the BM&F commodities and futures exchange.

Mendes will replace Mario Toros, who is resigning for personal reasons.

The new director comes to Brazil's central bank ahead of a period of possible alterations in the country's monetary policy. The bank has cut the country's reference Selic interest rate by 5 percentage points this year to a record low of 8.75% annually. According to recent market surveys, however, the institution is seen raising the rate to as much as 10.5% by the end of 2010 in an effort to head off inflation pressure in a gradually recovering local economy.

By: Gerald Jeffris

Source: The Wall Street Journal


Financial Times Special Report: Investing in Brazil
November 13, 2009.

This special report from Financial Times on Investing in Brazil highlights the following topics:

• 2016 Olympics
• Banking
• Capital Markets
• Power Generation
• Agriculture
• Metals & Mining
• Sugar & Ethanol
• Oil & Gas
• Bolsa Família Scheme
• Education
• Housing Program
• Environment
• Infrastructure
• Tourism
• Business of Fashion

To view this report click- http://www.brazilcham.com/user_files/images/website-pages/publications/ft_report_investing_in_brazil_5_nov_2009_pdf.pdf

Source: http://www.brazilcham.com/default.asp?id=248&c002_ui=sa&c002_id=842

Bio-Fuels

GE, Embraer, Others Studying Sugarcane-Based Jet Fuel
November 19, 2009.

General Electric, Brazilian aircraft manufacturer Embraer and airline Azul (owned by Jet Blue’s founder), and biotech start up Amyris Biotechnologies are assessing the use of sugarcane-based renewable fuel in passenger jets, a press release said Wednesday. The parties signed a memorandum of understanding to assess technical aspects of the renewable fuel with the aim to launch test flights by 2012. According to a Dow Jones article, Amyris is developing the fuel, while GE will develop the engines that will be used on an an Embraer aircraft belonging to Azul.

Source: The Sugarcane Blog

Environment

Brazil aims to reduce CO2 emissions by almost 40 per cent - Summary
Posted: Sat, 14 Nov 2009 16:35:03 GMT
By: dpa

Sao Paulo - Brazil plans to lower its emissions of the main greenhouse gas carbon dioxide (CO2) by nearly 40 per cent by 2020, the government said in Sao Paulo late Friday. The move by the world's fifth largest country comes ahead of December's crucial climate change talks in Copenhagen, and as President Luiz Inacio Lula da Silva was in Paris for climate talks with French President Nicolas Sarkozy.

In Brasilia, Lula's Chief of Staff Dilma Rousseff emphasised that the ambitious goal was voluntary. Brazil intends to emit around one billion fewer tons of CO2 by 2020 than it otherwise would have.

The actual target ranges from a CO2 reduction of at least 36.1 per cent up to 38.9 per cent. If the target is met, Brazil's emission levels in 2020 would be roughly equivalent to those of 1994, at around 1.7 billion tonnes annually.

Approximately one quarter of the target will be achieved through a drastic reduction of rainforest deforestation.

The South American nation also intends to reduce the rate of deforestation in the Amazon rainforest by 80 per cent.

Jose Manuel Barroso,the head of the European Union executive, praised the Brazilian commitment, saying in a statement, "With this decision, Brazil is amongst the first of the major emerging countries to make such a pledge.

"This is a potentially decisive step to achieve a global deal in Copenhagen in December and to succeed in the fight against climate change."

Last week the government of Brazil announced that deforestation of the Amazon rainforest was at its lowest level for 21 years.

Source: http://www.earthtimes.org/articles/show/294710,brazil-aims-to-reduce-co2-emissions-by-almost-40-per.html.