Brazil Economy

'Like vampires sucking our blood dry': Peter Navarro slams Brics alliance

Navarro rakes up examples where he tries to say that Brics cannot survive without selling to the US, adding that historically, all the member nations hate each other and want to kill each other

Updated On: 09 Sep 2025 | 8:47 AM IST

India could bide time till US public opinion pushes Trump to review tariffs

With Trump's tariff hike targeting Indian exports, New Delhi may await US domestic shifts, engage BRICS leaders, and explore alternative markets before retaliating

Updated On: 07 Aug 2025 | 10:18 PM IST

India, Brazil hold key meet to boost defence ties, military cooperation

Top officials of India and Brazil held a key defence meeting in Brazil, aiming to enhance military cooperation and defence industry ties, besides bolstering regional security in Indo-Pacific and Latin America. The 8th Joint Defence Committee meeting was held in Braslia on July 30, the Indian Defence Ministry said on Thursday. "Led by Shri Vishwesh Negi, Joint Secretary (IC) and Maj Gen Willain Koji Kamei, Deputy Chief of Policy and Strategy, talks focused on boosting military cooperation, training, defence industry ties and regional security in Indo-Pacific and Latin America," the ministry said in a post on X. The post also contained photographs from the meeting. "Joint Secretary (IC) Shri Vishwesh Negi called on Chief of the Joint Staff of the Brazilian Armed Forces, Fleet Admiral Renato Rodrigues de Aguiar Freire on the sidelines of the 8th Joint Defence Committee meeting in Braslia. Dr Dinesh Bhatia, Ambassador of India to Brazil, was also present," the ministry said in another

Updated On: 31 Jul 2025 | 1:13 PM IST

Brazil can survive without US trade, says Lula amid Trump tariff threat

In televised interviews, Lula struck a defiant tone, saying Trump must respect Brazil's sovereignty and cannot act as if he owns other nations

Updated On: 11 Jul 2025 | 8:17 AM IST

Brazil vows retaliatory tariffs if Trump goes through with 50% import taxes

Brazilian President Luiz Incio Lula da Silva said Thursday that he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50% over the South American country's criminal trial against his predecessor, Jair Bolsonaro. Lula said he will trigger Brazil's reciprocity law approved by Congress earlier this year if negotiations with the US fail. If there's no negotiation, the reciprocity law will be put to work. If he charges 50 (per cent tariffs) from us, we will charge 50 from them, Lula told TV Record in excerpts of an interview that will be fully aired later in the day. Respect is good. I like to offer mine and I like to receive it. Lula's comments raise the risk of a tariffs war erupting between the two countries, similar to what has happened between the US and China. Trump has vowed to respond forcefully if countries seek to punish the US by adding tariffs of their own. The tariffs letter that Trump sent to

Updated On: 11 Jul 2025 | 7:41 AM IST

India and Brazil set to sign key agreements to boost bilateral trade

India's trade with Brazil is the largest compared to its trade with any other country in Latin America. However, it is far below Brazil's trade with China, the US, Argentina, and Germany

Updated On: 08 Jul 2025 | 9:42 PM IST

Cyberattack on Brazil tech firm hits reserve accounts of financial firms

The bank did not provide further details of the attack, but said in a statement that it ordered C&M to shut down financial institutions' access to the infrastructure it operates

Updated On: 02 Jul 2025 | 9:07 PM IST

Brazil COP to push for Global Ethical Stocktake, transition policies

Brazilian Minister of Environment and Climate Change, Marina Silva, said COP30 will also come up with roadmap to transition away from fossil fuels, triple renewable energy and double energy efficiency

Updated On: 06 Mar 2025 | 11:46 PM IST

Ex-Brazilian president Bolsonaro charged with coup plot to overthrow govt

The charges against the former Brazilian President come after a two-year police investigation into the election-denying movement that led to riots by Bolsonaro supporters in the capital in early 2023

Updated On: 19 Feb 2025 | 2:40 PM IST

Why are 70,000 Chinese electric vehicles clogging the Brazilian port?

The backlog of vehicles at Brazilian ports stems from Chinese manufacturers rushing to deliver EVs ahead of the recently reinstated import tariffs as high as 35 per cent

Updated On: 17 Dec 2024 | 3:39 PM IST

Brazilian currency faces volatility as Prez Lula criticises rates level

Speaking in an interview with TV Globo aired late on Sunday, the leftist leader called the interest rate hikes "irresponsible" and said his government would "take care of that"

Updated On: 16 Dec 2024 | 9:33 PM IST

Brazil urges G20 leaders to move faster on net zero climate targets

World leaders are trying to shore up a global response to climate change before Donald Trump retakes the US presidency

Updated On: 20 Nov 2024 | 10:29 AM IST

All you need to know about challenges Trump govt will impose on Brazil

Trump's latest win provoked immediate reactions in Brazilian politics

Updated On: 19 Nov 2024 | 2:19 PM IST

Explosion outside Brazil's Supreme Court leaves one dead, forces evacuation

At least one explosion Wednesday outside Brazil's Supreme Court killed a man and forced the justices and staff to evacuate the building in the capital of Brasilia, police and firefighters said. A police statement said an artifact exploded outside the court without providing more details. Local firefighters later confirmed that one man died at the scene, but did not identify him. The court's justices and staff safely left the building after the incident, which took place at about 7:30 pm local time, shortly after Wednesday's session finished. Jorge Macedo, a staffer at Brazil's top court, confirmed the evacuation to The Associated Press. Local media showed footage suggesting two blasts outside the court, with 20 seconds between the first and the second explosions. The incident took place in Brasilia's Praca dos Tres Poderes, an area where Brazil's main government buildings are located. President Luiz Incio Lula da Silva was not in the neighbouring presidential palace at the time of

Updated On: 14 Nov 2024 | 7:23 AM IST

Alberto Fujimori, Peru's ex prez dies at 86 after tumultuous tenure

Alberto Fujimori, whose decade-long presidency began with triumphs righting Peru's economy and defeating a brutal insurgency only to end in a disgrace of autocratic excess that later sent him to prison, has died. He was 86. His death Wednesday in the capital, Lima, was announced by his daughter Keiko Fujimori in a post on X. He had been pardoned in December from his convictions for corruption and responsibility for the murder of 25 people. His daughter said in July that he was planning to run for Peru's presidency for the fourth time in 2026. The former university president and mathematics professor emerged from obscurity to win Peru's 1990 elections over writer Mario Vargas Llosa. He took over a country ravaged by runaway inflation and guerrilla violence, mending the economy with bold actions including mass privatizations of state industries. He also defeated fanatical Shining Path rebels, winning him broad-based support. Fujimori, who governed Peru from 1990 to 2000, was sentence

Updated On: 15 Sep 2024 | 7:49 AM IST

Brazil to freeze $2.7 bn from budget as govt tries to meet fiscal target

The decision to hold back on spending comes amid market worries about the government's ability to meet its goal of eliminating the primary deficit.

Updated On: 19 Jul 2024 | 10:43 AM IST

Bolsonaro embezzled $1.2 mn worth of jewellery from Saudi Arabia: Police

Brazil's Federal Police allege former president Jair Bolsonaro embezzled jewellery worth 6.8 million Brazilian reals (about USD 1.2 million) during his time in office, according to the investigative report unsealed on Monday by the Supreme Court. Bolsonaro was indicted last week charging embezzlement, asset laundering and criminal association in connection with the luxury jewellery from Saudi Arabia. The investigation adds pressure on the far-right leader who governed in 2019-2022 before losing his reelection bid to Luiz Incio Lula da Silva. He has already lost his political rights until 2030. Bolsonaro has not commented on the indictment, but has previously denied any wrongdoing involving the jewellery. The police report alleges there was "a criminal association for the embezzlement of high-value gifts that were received due to the position of former President Jair Bolsonaro". The jewellery included diamond-encrusted Rolex and Patek Phillipe watches, a necklace, rings and cufflinks

Updated On: 09 Jul 2024 | 7:38 AM IST

President Lula approves spending cuts to meet Brazil's fiscal framework

The Brazilian real has weakened around 13% against the US dollar this year

Updated On: 04 Jul 2024 | 9:11 AM IST

New Petrobras chief sworn in amid market fears of increased govt control

President Luiz Inácio Lula da Silva, who nominated Chambriard, attended the ceremony at a Petrobras research center in Rio de Janeiro

Updated On: 20 Jun 2024 | 12:37 PM IST

Brazil pushes out Petrobras CEO, names ex-regulator to top job; shares dip

New York-listed shares of Petrobras fell more than 6% in after-hours trading as news broke that Prates was headed for the exit

Updated On: 15 May 2024 | 9:07 AM IST