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☆ Toyota to invest $2 billion in Brazil, says Brazilian vice-president
▼ + stars: | 2024-03-03 | by ( ) www.cnbc.com time to read: +1 min

A Toyota dealership in Yokohama, Japan, photographed on Feb. 7, 2021. Japanese auto maker Toyota will announce on Tuesday an 11 billion real ($2.2 billion) investment for the next few years in Brazil, the South American country's vice-president said on Sunday. Toyota said in a statement earlier on Sunday, after local media had first reported the new investments, it had no comment on potential future plans. Brazil's vice-president and minister for industry Geraldo Alckmin said on social media the investments will be unveiled at an event in Toyota's factory in the city of Sorocaba, Sao Paulo state. Toyota would be the latest global automaker to unveil plans for extra investment in Brazil this year, following companies such as Volkswagen, General Motors and Hyundai Motor.

Persons: Geraldo Alckmin, Lauro Jardim Organizations: Toyota, American, Sunday, Volkswagen, General Motors, Hyundai Motor Locations: Yokohama, Japan, Brazil, Toyota's, Sorocaba, Sao Paulo

MANAUS, Brazil (AP) — Communities dependent on the Amazon rainforest's waterways are stranded without supply of fuel, food or filtered water. These are just the first grim visions of extreme drought sweeping across Brazil’s Amazon. Raimundo Silva do Carmo, 67, makes his living as a fisherman, but these days has been struggling to simply find water. Like most rural residents in Brazil's Amazon, do Carmo typically retrieves water untreated from the biome's abundant waterways. The drought has affected most of the main rivers in the Amazon, the world’s largest basin, which accounts for 20% of the planet’s fresh water.

Persons: Raimundo Silva, Carmo, ” Joaquim Mendes da Silva, ”, Edvaldo de Lira, Ana Paula Cunha, Marcus Suassuna Santos, Brazil’s, Ane Alencar, Alencar, Luiz Inácio Lula da Silva’s, Geraldo Alckmin, Ayan Fleischmann, Fleischmann, Flávia Costa, Fabiano Maisonnave, Eléonore Hughes, Diane Jeantet Organizations: Associated Press, Geological Survey, Amazon Environmental Research Institute, Bolsa, Sustainable Development Institute, National Institute for Space Research, National Institute of, AP Locations: MANAUS, Brazil, Brazil's, Puraquequara, Amazonas state's, Manaus, “, CEMADEN, Amazonas, Parana, Lake Puraquequara, Equatorial, Rio Grande do Sul, Madeira, Bolivia, Porto Velho, Santo Antonio, Negro, Bolsa Familia, Solimoes, Madeira —, Lake Tefe, rocketed, Brasilia, Rio de Janeiro

☆ Lula admitted to Brasilia hospital for hip surgery
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

Brazil's President Luiz Inacio Lula da Silva gestures during an inauguration ceremony of the new President of Supreme Court, Roberto Barroso, in Brasilia, Brazil September 28, 2023. REUTERS/Ueslei Marcelino/ File Photo Acquire Licensing RightsBRASILIA, Sept 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva was admitted to hospital on Friday to undergo surgery for hip arthrosis caused by wear and tear of the cartilage on the head of the femur that has caused him much pain in recent months. The two-hour surgery with general anesthetic is aimed at restoring the function of his right hip by arthroplasty, which involves removing the head of the femur to implant a prosthesis. While the surgery is not risky, 77-year-old Lula will remain in hospital until Tuesday and then spend three weeks at the presidential residence recovering. Lula said he put off the surgery because he wanted to take office first and lead the country back to normality after political turmoil under his predecessor, and recover Brazil's international standing.

Persons: Luiz Inacio Lula da Silva, Roberto Barroso, Ueslei Marcelino, Lula, Geraldo Alckmin, Anthony Boadle, Steven Grattan, Christina Fincher Organizations: Supreme, REUTERS, Rights, arthroplasty, United, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, United Arab Emirates

☆ Brazil to end import tax exemption for electric vehicles, says official
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Sept 15 (Reuters) - Brazil will end a tax exemption for importing electric vehicles, gradually raising the duty to 35% over three years, Industry Ministry official Uallace Moreira told Reuters on Friday. Brazil-based carmakers lobbied for the measure, overcoming pushback from Chinese manufacturers who sell electric vehicles in the country. This week, the European Commission launched an investigation into whether to impose punitive tariffs to protect European Union producers against cheaper Chinese electric vehicle imports it says are benefiting from state subsidies. The new program will stimulate energy efficiency projects using tax credits, as well as create a mechanism that Moreira called "green taxation." The plan would stagger the collection of a tax on industrialized products, depending on the energy efficiency of the vehicle models, the recyclability of the products and local production density.

Persons: Uallace Moreira, carmakers, Geraldo Alckmin, Moreira, Bernardo Caram, Diane Craft Organizations: Industry Ministry, Reuters, Industry, European Commission, European Union, Thomson Locations: BRASILIA, Brazil

The announcement was made Thursday by the country's Committee on Climate Change, a joint body made up of 18 government ministries. The change will be officially transmitted to the United Nations Framework Convention on Climate Change, the international body that works to advance global action on climate change. During the tenure of far-right President Bolsonaro, Brazil backtracked on its Nationally Determined Contribution calculation twice. Brazil’s target under the Paris Agreement is 1.2 billion metric tons of CO2. The former president dismantled Brazil’s environmental agencies in favor of expanding agribusiness, neglecting preservation efforts.

Persons: Jair Bolsonaro, Geraldo Alckmin, Bolsonaro, Luiz Inácio Lula da Silva Organizations: RIO DE, —, United Nations, Climate, Talanoa Institute, Climate Watch, World Resources Institute, AP Locations: RIO DE JANEIRO, — Brazil, Paris, Brazil, Brasilia

☆ At least 39 dead as cyclone hits Brazil's southernmost state
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Affected houses are seen in a flooded area after an extratropical cyclone hit southern towns, in Mucum, Rio Grande do Sul, Brazil, September 6, 2023. REUTERS/Diego Vara Acquire Licensing RightsRIO DE JANEIRO, Sept 7 (Reuters) - At least 39 people have died and nine remain missing after a cyclone battered Brazil's southernmost state Rio Grande do Sul, flooding homes and swelling rivers, local authorities said on Thursday. Governor Eduardo Leite declared a state of public calamity and canceled statewide parades meant to celebrate Brazil's Independence Day on Thursday. In addition to the 39 fatalities in Rio Grande do Sul, one person died in neighboring Santa Catarina state while driving through the city of Jupia when a tree fell on their car. Independent weather forecasters MetSul and Climatempo cautioned Rio Grande do Sul is expected to receive more heavy showers on Thursday and Friday.

Persons: Diego Vara, Eduardo Leite, We've, Leite, Luiz Inacio Lula da Silva, Geraldo Alckmin, Climatempo, Rio, Pedro Fonseca, Gabriel Araujo, Josie Kao Organizations: REUTERS, DE, Roca Sales, Cruzeiro, Sul, Thomson Locations: Mucum, Rio Grande do Sul, Brazil, DE JANEIRO, Santa Catarina, Jupia, India, Sao Paulo, Rio de Janeiro, Bahia

SAO PAULO, Sept 6 (Reuters) - The death toll from heavy rains in southern Brazil rose to 36, local authorities said on Wednesday, as a tropical cyclone battered and soaked the region, flooding homes and swelling rivers. Video obtained by Reuters showed rising water flooding streets and rivers and submerging houses in the small town of Mucum, in Rio Grande do Sul state. Dominguez Fontana, a 74-year-old sawmill worker who escaped the Mucum flooding, said nothing could be salvaged. The Rio Grande do Sul floods are just the latest recent natural disasters in Brazil. More than 50 people were killed in Sao Paulo state this year after massive downpours caused landslides and flooding.

Persons: Dominguez Fontana, Luiz Inacio Lula da Silva, Eduardo Leite, Lula, Geraldo Alckmin, Eduardo Simoes, Gabriel Araujo, Kylie Madry, William Maclean, David Gregorio Our Organizations: SAO PAULO, Reuters, Roca, Thomson Locations: Brazil, Mucum, Rio Grande do Sul, Sao Paulo, Petropolis, Rio de Janeiro, Bahia, Santa Catarina

IRACEMAPOLIS, Brazil, April 28 (Reuters) - Brazil's ability to produce and sell hybrid cars that can run on 100% ethanol is a huge asset for its auto industry as global economies push for decarbonization to tackle climate change, Vice President Geraldo Alckmin told Reuters. Alckmin on Thursday attended the opening of a factory by Chinese carmaker Great Wall Motor Co Ltd (601633.SS) that will produce hybrid cars, including a flex-fuel pickup called Poer. Brazil has one of the world's largest ethanol industries, and most cars in the country can run on 100% biofuel made from sugarcane or corn. He highlighted the export opportunities hybrid cars manufactured in Brazil can bring for the country as it pushes for re-industrialization, a process in which he sees the auto industry playing a key role. "It is very important because it is an industry of cutting-edge technology, with semiconductors and the whole decarbonization area," said the vice president.

☆ Debate grows among Lula's team over Brazil fuel tax policy
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +3 min

Former far-right Jair Bolsonaro unveiled the fuel tax cut last year as he sought to ease inflation and win over voters ahead of the election which he eventually lost to Lula. Since Lula's victory, debate has raged within his Workers Party (PT) over what to do with the costly and popular measure. Tensions are now mounting over whether to extend further the gasoline and ethanol tax waiver. In a series of Twitter posts, Congresswoman Gleisi Hoffmann, president of Lula's Workers Party (PT), said fuel taxes should only resume once state-run oil giant Petrobras (PETR4.SA) defines a new pricing policy. Vice-President Geraldo Alckmin said on Friday the government had not yet made a decision on fuel taxes.

☆ Brazil's VP says development bank should be strengthened to leverage the economy
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +3 min

Asked whether this would involve changing the so-called TLP rate, charged by BNDES to lenders, he said only "it is important to create conditions to reduce the interest rate." It replaced the former TJLP rate, which was set by the government below the country's Selic base rate, to subsidize corporate loans. In his inaugural speech, Alckmin said his ministry will have BNDES under its wing, stressing it was essential to strengthen the bank's role to leverage the economy. According to Alckmin, BNDES should act "as a dynamizer of the industry competitiveness and exports, especially those of higher added value." That contrasts with former President Jair Bolsonaro, who centralized policy formulation and decision-making into a single Economy Ministry.

[1/5] A man takes a picture of the vehicle transporting Brazilian soccer legend Pele's body, at the Vila Belmiro stadium in Santos, Brazil, January 2, 2023. "The expectation is huge, the whole world will be here," said local fan Roberto Santos. He was the creator of Brazilian soccer," said fan Antonio da Paz, waiting outside the stadium for the memorial set to begin at 10 a.m. (1300 GMT). Several authorities are expected to attend the memorial, including newly sworn-in Brazilian President Luiz Inacio Lula da Silva, Vice President Geraldo Alckmin - a longtime Santos supporter - and FIFA President Gianni Infantino. "I'll be here all day, 24 hours, from 10 a.m. to 10 a.m.," fan Roberto Santos said.

☆ Brazil's Lula announces new set of cabinet members with VP as minister
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Dec 22 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva on Thursday announced a new set of future cabinet members ahead of his Jan. 1 inauguration, including Vice President-elect Geraldo Alckmin as minister of development, industry and trade. Lula also said economist Esther Dweck would lead the newly created Management Ministry, while business-friendly congressman Alexandre Padilha was appointed institutional affairs minister. Reporting by Gabriel AraujoOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's incoming finance chief Haddad names ministry officials
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 22 (Reuters) - Brazil's incoming Finance Minister Fernando Haddad on Thursday announced a fresh batch of officials to lead the economic team of President-elect Luiz Inacio Lula da Silva's government. In a press conference, Haddad said Rogerio Ceron, his finance secretary when he himself served as Sao Paulo's mayor, would lead Brazil's Treasury. Ceron recently headed Sao Paulo Parcerias, a city government-linked agency involved in projects related to concessions, privatization and public-private partnerships. Haddad also confirmed Marcos Barbosa Pinto as the finance ministry's new secretary for economic reforms, Guilherme Mello as economic policy secretariat, and Robinson Barreirinhas as secretary of the federal revenue service. Haddad said the "quartet" he presented on Thursday would boost the finance ministry's efficiency and find solutions to the country's problems.

RIO DE JANEIRO, Dec 22 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva will appoint Senator Jean Paul Prates of his Workers Party to be the next chief executive of state-run oil company Petrobras (PETR4.SA), a member of his transition team said on Thursday. Deyvid Bacelar, head of oil workers' union FUP, said on social media that Lula had picked Prates based on the labor group's recommendations. He added that Senator Alexandre Silveira would be chosen to be mines and energy minister. The transition team, Prates and Petrobras did not immediately respond to requests for comment. Preferred shares of the oil company rose more than 2% after Bacelar's post, outperforming Brazil's benchmark stock index Bovespa <.BVSP>, before ceding half the gain.

☆ Brazil VP-elect Alckmin vows debt reduction, seeks to appease markets
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Nov 17 (Reuters) - Brazil's incoming government will be fiscally responsible, Vice President-elect Geraldo Alckmin said Thursday, promising a budget surplus and reduction in public debt in effort to quell market unrest over a proposed welfare plan. "The market reaction is momentary. "The framework will be discussed," Alckmin, a former two-time governor of Brazil's Sao Paulo state. "The key issue is a tax reform," which will help spur GDP growth, he said, adding it would be approved as soon as possible, but he gave no deadline. Reporting by Lisandra Paraguassu; Editing by Lisa Shumaker, Brendan O'Boyle and David GregorioOur Standards: The Thomson Reuters Trust Principles.

SAO PAULO, Nov 17 (Reuters) - Brazilian markets slumped on Thursday after the incoming administration of President-elect Luiz Inacio Lula da Silva proposed exempting some 175 billion reais ($32 billion) from the spending cap on next year's budget to pay for welfare programs. Lula's transition team late on Wednesday proposed to lawmakers guidelines for a constitutional amendment that would set a spending cap waiver to secure welfare programs, though without establishing how long the waiver would last. "The stock market will fall, the dollar will rise (against the real). The dollar doesn't rise and the stock market doesn't fall because of serious people, but because of those speculating every single day," he said. Helder Wakabayashi, an analyst at Toro Investimentos, said that markets would remain pressured at least until the incoming government proposes a deadline for the spending cap waiver.

☆ Brazil's Lula seen favoring leftist Haddad for finance minister, sources say
▼ + stars: | 2022-11-16 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +4 min

REUTERS/Mariana Greif/File PhotoBRASILIA, Nov 16 (Reuters) - Leftist former Sao Paulo Mayor Fernando Haddad is emerging as the front-runner to be Brazilian President-elect Luiz Inacio Lula da Silva's finance minister, three sources told Reuters, although they said no final decision has yet been made. Investors, already jittery over Lula's spending plans, are eager to learn who will be Brazil's next finance minister. Lula is not expected to announce any of his ministers until early December after he returns from Egypt and Portugal trips. Markets tumbled in Brazil last week on concerns that Lula was delaying the naming of his finance minister and disregarding fiscal discipline as he studied ways to bypass the budget spending ceiling. Haddad failed in his bid to be Sao Paulo governor in last month's election, losing out to Bolsonaro's pick for the job.

[1/2] FILE PHOTO:Brazilian President-elect Luiz Inacio Lula da Silva cries while speaking during a meeting with members of the government transition team in Brasilia, Brazil November 10, 2022. REUTERS/Ueslei Marcelino REUTERSBRASILIA, Nov 15 (Reuters) - A dust-up among aides to Brazil's president-elect over the country's choice to lead the Inter-American Development Bank (IDB) is fueling concern that hardcore leftists on his team are eclipsing the influence of more market-friendly moderates. As his transition team begins its work ahead of the Jan. 1 inauguration, investors are wondering which group will be more influential in steering the two-term former president's economic policy. His appointment as coordinator of Lula's transition team was seen as good news for those hoping for market-friendly policies. SEEKING TO PLEASEInvestor concern about Lula's economic plans has been growing since last week.

☆ Brazil's VP Alckmin announces team for budget planning government transition
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

[1/2] Brazilian President-elect Luiz Inacio Lula da Silva gestures near Geraldo Alckmin, Brazilian elected Vice President during a meeting with members of the government transition team in Brasilia, Brazil November 10, 2022. REUTERS/Ueslei MarcelinoBRASILIA, Nov 10 (Reuters) - The transition team of Brazilian President-elect Luiz Inacio Lula da Silva will have a budget planning group aligned with the leftist Workers Party (PT), indicated Vice-President-elect Geraldo Alckmin on Thursday. According to Alckmin, the team will feature former Finance Minister Guido Mantega, lawmaker Enio Verri, former Federal Budget Secretary Esther Dweck and Antonio Correa de Lacerda, president of the Federal Economic Council. Reporting by Lisandra Paraguassu; Writing by Marcela Ayres; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ 'He is our phoenix': In Brazil, newly elected Lula has seen ups and downs
▼ + stars: | 2022-11-01 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Da Silva’s mother was left alone to raise eight children, of whom Lula was the youngest. He told The Associated Press he saw da Silva’s face light up with each colorful envelope he delivered. “God willing, one day we will publish (the letters),” da Silva said at a rally in September. After 580 days’ imprisonment, da Silva was a free man — free to marry his girlfriend, and free to run for the presidency. Ultimately, it came down to the wire: Da Silva was elected with 50.9% of the vote.

☆ Lula's running mate Alckmin to manage Brazil's government transition
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Nov 1 (Reuters) - Brazil's Vice President-elect Geraldo Alckmin will coordinate the transition to the future government led by Luiz Inacio Lula da Silva and is aiming to start it on Thursday, the head of Lula's Workers Party, Gleisi Hoffmann, said on Tuesday. She said she will speak again about the transition with Ciro Nogueira, chief of staff to outgoing President Jair Bolsonaro, who has yet to concede defeat after losing Sunday's tight race to Lula. The president-elect will take office on Jan. 1. Reporting by Lisandra Paraguassu; Writing by Peter Frontini; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil leftist Lula wins third presidential term to redeem tarnished legacy
▼ + stars: | 2022-10-31 | by ( Anthony Boadle | ) www.reuters.com time to read: +4 min

His policies lifted millions from extreme poverty, expanded access to education and healthcare, and reduced Brazil's deep social inequalities during years of robust growth driven by a global commodities boom. GLOBAL PRESTIGEHis presidency also reinvigorated Brazil's oil and ship-building industries, while its economy rose to sixth-largest in the world. Brazil's global prestige hit new levels as it was chosen to host the Olympics and soccer World Cup. However, Lula's legacy was tarnished amid revelations of a vast kickback scheme on public contracts, benefiting leaders from major political parties, including his own. A heavy smoker for years, Lula was treated with chemotherapy for throat cancer in 2011, deepening his gruff baritone.

☆ Fiscal discipline 'non-negotiable' if Lula wins Brazil election -running mate
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Oct 24 (Reuters) - Fiscal responsibility will not be negotiable if leftist leader Luiz Inacio Lula da Silva wins next Sunday's presidential runoff vote, Lula's running mate Geraldo Alckmin said on Monday. Former Sao Paulo governor Alckmin did not elaborate on the new fiscal anchor. Register now for FREE unlimited access to Reuters.com Register"The first point is fiscal responsibility, which is non-negotiable," he wrote on Twitter. Priorities would include an increase in competitiveness, a reduction in production costs and the recovery of national industry, employment, and income, he said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Marcela Ayres; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian ex-bank leader Meirelles says no talk of joining Lula but door open
▼ + stars: | 2022-09-19 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

Brazil's then-Secretary of Finance and Planning Henrique Meirelles is seen during a news conference in Sao Paulo Brazil February 21, 2019. REUTERS/Amanda Perobelli/File PhotoBRASILIA, Sept 19 (Reuters) - Former Brazilian central bank chief Henrique Meirelles, who served under former President Luiz Inacio Lula da Silva, said on Monday he had not discussed joining the government if the leftist leader wins a third term in October's election. "There's nothing (on the table)," he told Reuters after endorsing Lula at a campaign event, while emphasizing his strong relations with him. The ringing endorsement from Meirelles contributed to a strong day for Brazilian markets, traders said, with the currency gaining 1.8% and the benchmark stock index rising 2.3%. Brazil's longest-serving central bank governor (2003-2010), Meirelles is remembered for his role managing the 2008 financial crisis and raising interest rates aggressively to fight inflation.

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