Brazil wins

Brazil: third time lucky?

Brazil’s economy grew by 0.5% in the second quarter. According to market expectations, an upswing in activity as from the third quarter should come in but there will also be more pressure on prices, CaixaBank research notes.


Brazil’s Caixa Económica Federal hires Indra to trim costs

MADRID | Spanish technology corporation Indra signed two contracts with Brazil’s Caixa Económica Federal. Indra will provide communication system services for an estimated €37 million during a period of four years. The contracts include specialised technical services for the development and maintenance of information technology programmes related to product portfolio in loans and financing and risk management. Caixa Económica Federal, one of the largest banks in Brazil, is also the largest…


Brazil: fruitless stimuli

By CaixaBank research team, in Barcelona | Of the events occurring recently on the world economic scene, three have significantly affected the current fate of Brazil's economy. On the one hand, the confirmation of China's economic slowdown in the first quarter; on the other, the progress made in correcting commodities markets and, lastly, more intense tensions in the euro area's debt markets are causing a marked upswing in global aversion…

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Brazil’s economy to accelerate after summer

LONDON | Is there in these recent Brazil’s data a lesson for those in the Old Continent whose only talk is internal devaluation via salary cuts to regain competitiveness, while keeping the common currency too high for irrational fear of the inflation ghost? March brought a negative surprise with consumer credit non-performance rates in Brazil, which ticked up to 7.6% after having fallen to 7.4% in February. But that shouldn’t be…

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Repsol Sinopec’s Campos Basin in Brazil one of largest findings in 2012

MADRID | Repsol Sinopec Brasil reported it estimates that Block BM-C-33, in the deepwater Campos Basin, contains resources of more than 700 million barrels of light oil and 3 trillion cubic feet of gas. Partner companies are now working on an appraisal plan for the area. Repsol Sinopec Brasil is the operator of the discovering consortium, holding 35%, also joined by Statoil (35%) and Petrobras (30%). Block BM-C-33, off the coast…

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Bom negócio… Spain’s OHL and Ferrovial to bid for Brazil airports

MADRID | EP | Brazil is getting ready to host some of the greatest sport events in the world: the Football World Championship in 2014 and the Olympic Games in 2016. The modernisation of its airports for affairs of such extent means a very important investment effort for the country, so the president Dilma Rousseff has decided to privatise them. The Spanish construction companies have begun to take positions in…

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IAG –TAP: a purchase is in the air

Portugal has taken its commitment to Europe very seriously, the rescue programme representing €78bn. So after the selling of the state-owned companies EdP and REN to the Chinese companies Three Gorges and State Grid, it is the turn of the Portuguese flag carrier TAP. All the signs are that, if no unexpected events meddle the deal, the next TPA’s owner will be the British-Spanish airline IAG. According to the digital…

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Emilio Botín, the first banker to open a branch in a ‘favela’

In the last seven years in Brazil, 46 millions of poor people have become middle class and it is expected that 19 millions more can also improve their purchasing power by 2014. Banco Santander is the third private bank in Brazil, following Itaú and Bradesco, and the first opening a branch in a ‘favela’, Alemao, the most dangerous in Rio de Janerio. The daily Expansión had the scoop: “The opening…