Brazil to surpass UK and Become World’s Sixth Economy by 2012
Reports from the International Monetary Fund and international private consultants show that at the end of the year Brazil’s GDP will rank sixth in the world and for the first time ahead of Britain’s GDP. Brazil’s GDP is expected to grow 3.5% in 2011, less than originally expected by the government last January, but it will total US$ 2.44 trillion, …
Read MoreBrazil Makes Its Own Manhattan
São Paulo is almost beyond the imagination — a drizzle-shrouded megacity of almost 20 million that sprawls like Los Angeles and boasts enough skyscrapers to beat New York. The gritty financial engine of the new Brazil, São Paulo exerts influence over commerce, media and culture. The Brazilian writer Roberto Pompeu de Toledo calls it an “urban labyrinth that reaches toward …
Read MoreVolkswagen to open $2 bn factory in north east Brazil
German automaker Volkswagen is set to invest $2 billion in a new factory in north-eastern Brazil, a specialty publication said this week. The German firm and officials in Pernambuco state are finalizing the details of the deal, the Valor Economico daily reported, without citing sources. Plans are for the factory to be built in Cabo de Santo Agostinho, a town …
Read MoreBrazil iPad Factory prepared to open
Earlier this year, Foxconn, which produces Apple’s popular tablet, announced plans to open an iPad assembly plant in Brazil, providing 100,000 direct and indirect jobs – and making Brazil the first country other than China to begin producing the tablet. Foxconn chairman Terry Gou has confirmed that the new iPad factory in Jundiaí, São Paulo state, will be officially opened …
Read MoreConfident Canada ranks No.1 among G20 countries for new businesses
Canada is the only G20 country able to claim that high levels of confidence among entrepreneurs are reflected in a similarly high number of new businesses registered. A new report from Ernst & Young finds Australia also performs well on both counts, though it lags well behind Canada. For all other countries, there are significant opportunities for improvement on one …
Read MoreForeign investment in Brazil hits record high
Brazil’s Central Bank says direct foreign investment in Brazil in the first nine months of 2011 has totalled $50.5 billion. That’s the highest since it started to measure investment in 1947. According to the bank, the total is 123 percent larger than investment in the same period in 2010, up from $22.6 billion to $48.4 billion. The bank has projected …
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