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☆ Passion and purpose inspire Brazilian chefs to serve authentic cuisines like the Carnival-favorite dishes feijoada and coxinha
▼ + stars: | 2024-04-15 | by ( Leila Jordan | ) www.businessinsider.com time to read: +8 min

The Brazilian chefs Leticia Schwartz and Luiza Souza shared their favorite dishes, including feijoada. Souza and Schwartz shared their favorite Brazilian dishes that embody the spirit of Rio during Carnival and beyond. Bar da Gema's fried polenta with oxtail, one of the restaurant's most popular dishes. Nico Schinco for BI"Feijoada is the most iconic food of Brazil and from Rio," Schwartz said. One of Bar da Gema's most popular dishes is coxinha, fried teardrop-shaped dough filled with shredded meat.

Persons: Leticia Schwartz, Luiza Souza, —, Schwartz, Nico Schinco, Gema, Kristin Bethge, Souza, Leandro Amaral, Amaral, Rio doesn't, Eduardo Gomes, brigadeiro, Brazil it's, BI Schwartz, hasn't Organizations: Service, Brazil's, BI Souza, Catholic, BI, Rio, polenta, Ash Locations: Rio de Janeiro, Greenwich , Connecticut, Rio, Bahia, Brazil, Brazilian, sprinkles, France, French, Portugal, French Guiana, Rio ., Minas Gerais, Curitiba

☆ Dengue Spreads Fast in Brazil Prompting Emergency Health Measures
▼ + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Ricardo Brito and Anthony BoadleBRASILIA (Reuters) - Dengue fever has surged in Brazil's hot rainy season, forcing health authorities to take emergency measures and start mass vaccination against the mosquito-borne illness. In the first five weeks of this year 364,855 cases of infection have been reported, the Health Ministry said, four times more than dengue cases in the same period of 2023. The rapid spread of dengue has caused 40 confirmed deaths, the ministry said, and a further 265 are being investigated. The Health Ministry has set up an emergency center to coordinate operations against dengue across Brazil. Dengue fever symptoms include a high fever, headache, vomiting, muscle and joint pains, and an itching skin rash.

Persons: Ricardo Brito, Anthony Boadle BRASILIA, Qdenga, Tedros Adhanom, Anthony Boadle, Angus MacSwan Organizations: Reuters, Health Ministry, Federal, Army, Brazilian Air Force, World Health Organization, WHO, El Locations: Brazil, Minas Gerais, Brasilia, Brasilia ., Rio de Janeiro, Europe, America

RIO DE JANEIRO (AP) — Rio de Janeiro has declared a public health emergency because of an outbreak of mosquito-borne dengue fever, the city said in its official gazette on Monday, just days before Carnival celebrations kick off across Brazil. Since the beginning of 2024, the municipality has registered more than 10,000 dengue cases. On Monday, the Brazilian air force set up a 60-bed field hospital in the Federal District in Ceilandia that was due to begin treating patients. In such cases, dengue can be fatal. In March 2023, Brazil approved a vaccine against dengue and became the first country in the world to offer a dengue vaccine through the public health system, according to the health ministry.

Persons: Brig, Marcelo Kanitz Damascene, Eduardo Paes, “ cariocas, —, ” Paes Organizations: RIO DE, Federal, World Health Organization, WHO, Rio Locations: RIO DE JANEIRO, Rio de Janeiro, Brazil, Rio, Minas Gerais, Goias, Federal, Ceilandia

☆ Brazil State Prosecutor Urges Vale, BHP to Settle Over Dam Disaster
▼ + stars: | 2024-01-29 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Marta NogueiraRIO DE JANEIRO (Reuters) - Miners Vale, BHP and their joint venture, Samarco, should strike a deal to compensate for a deadly dam disaster in 2015 or risk paying a lot more in court, the Minas Gerais state prosecutor general told Reuters. Last week a federal judge ruled that the firms must pay up to 47.6 billion reais ($9.67 billion) in damages, in a decision still subject to appeal. "The total will be very high," he said, adding that the firms should strike a deal when talks resume in February, to avoid more costly litigation. Soares Junior is one of the many officials that would have to sign off on a deal that could settle lawsuits on state and federal levels involving the disaster. ($1 = 4.9437 reais)(Reporting by Marta Nogueira, writing by Fabio Teixeira; editing by Sandra Maler)

Persons: Marta Nogueira, General Jarbas Soares Junior, Soares Junior, Samarco, Vale, Fabio Teixeira, Sandra Maler Organizations: Marta Nogueira RIO DE, Reuters, Vale, BHP Locations: Marta Nogueira RIO DE JANEIRO, Minas Gerais, Mariana

RIO DE JANEIRO (AP) — Neighborhoods in Brazil's Rio de Janeiro state remained flooded Monday more than a day after torrential rains that killed at least 11 people. Some people drowned and were killed in landslides, while at least three died after being electrocuted. Authorities intervened in over 200 incidents due to the flooding across the state, according to a statement from Rio’s civil defense. Brazil’s National Institute of Meteorology had warned Thursday of the potential for heavy rain in Rio, Sao Paulo and Minas Gerais due to a combination of heat, humidity and areas of low pressure in the atmosphere. In February 2023, heavy rain caused flooding and landslides that killed at least 48 people in Sao Paulo state.

Persons: Heloisa, Duque de Caxias, Regina, “ We’ve, ”, ” Duque de, Eliana Vieira Krauss, ” Krauss, Rio de Janeiro Mayor Eduardo Paes, Daniel Soranz Organizations: RIO DE, Avenida Brasil, Brazil's Globo, Firefighters, Authorities, ” Duque de Caxias, Rio de Janeiro Mayor, Ronaldo, Municipal Hospital, Rio Health, Brazil’s National Institute of Meteorology Locations: RIO DE JANEIRO, Brazil's Rio de Janeiro, Rio de Janeiro, Heloisa Regina, Duque de, Rio, Rio’s, Belford Roxo, Rio de, Rio , Sao Paulo, Minas Gerais, Sao Paulo, Brazil

Musician Paul McCartney performs during his Got Back tour at SoFi Stadium in Inglewood, California, U.S., May 13, 2022. Tickets priced between 200 reais ($41) and 400 reais ($82), much lower than most of those for the tour, sold out in just a few minutes. Fans who managed to buy tickets received wristbands for the concert. Upon arrival, event organizers sealed up fans' mobile phones and cameras to prevent images being recorded. Reporting by Bernardo Caram; Writing by Steven Grattan; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul McCartney, Mario Anzuoni, McCartney, Amanda Cardoso, I'd, Bernardo Caram, Steven Grattan, Bill Berkrot Organizations: REUTERS, Rights, Cavern Club, Beatles, Clube, Choro, Thomson Locations: Inglewood , California, U.S, Rights BRASILIA, Liverpool, Brazil, Brasilia, Belo Horizonte, Sao Paulo, Curitiba, Rio de Janeiro

"The revenue service is already organizing the implementation of this minimum taxation on multinationals," she said in an interview on Wednesday. The revenue service did not immediately respond to a request for comment. It advocates that this mechanism will ensure that large multinational companies pay a minimum 15% tax on their profits in all jurisdictions where they operate to deter profit-shifting to tax-favorable locations. The OECD estimates that the global minimum tax, already under way in countries including South Korea and Japan, could generate up to $200 billion in additional annual revenue. She also said Brazil aims to go further in the global tax discussion to reduce differences between advanced and emerging economies and to promote the green agenda.

Persons: India Narendra Modi, Luiz Inacio Lula da Silva, Joe Biden, Rishi Sunak, Kenny Holston, Tatiana Rosito, Maria Carolina Sampaio, GVM, Rosito, Marcela Ayres, Bernardo Caram, Matthew Lewis Organizations: U.S, UK, Rights, Finance, Reuters, Organization, Economic Cooperation, Development, OECD, International Monetary Fund, Thomson Locations: India, Brazil, New Delhi, Rights BRASILIA, South Korea, Japan, United States, Rosito, Brasilia

Brazil's Federal Police said in a statement they arrested two people, who they did not name, on terrorism charges in Sao Paulo. They also carried out search and seizure warrants in Sao Paulo, Brasilia and Minas Gerais states. Mossad thanked Brazilian security services for their role in helping to thwart the attack. Mossad said the "terrorist cell ... was operated by Hezbollah in order to carry out an attack on Israeli and Jewish targets in Brazil." Since the Oct. 7 attack, Hezbollah has been engaging Israeli forces along the border, in the deadliest escalation since it fought a war with Israel in 2006.

Persons: Benjamin Netanyahu's, Ricardo Berkiensztat, Jair Bolsonaro, Rodrigo Viga Gaier, Gabriel Stargardter, Steven Grattan, Lisandra, James Mackenzie, Lisa Shumaker Organizations: RIO DE, Hezbollah, Brazil's Federal Police, Islamic State, U.S . FBI, U.S . Treasury, Triple, Federal Police, Reuters, Jewish Federation of, State of, Iran's, Guards, Thomson Locations: RIO DE JANEIRO, Brazil, Iran, Sao Paulo, Brasilia, Minas Gerais, Lebanon, al Qaeda, Argentina, Paraguay, Israel, Gaza, State, State of Sao Paulo, Britain, Canada, Germany, Honduras, United States, U.S, Gulf, Jerusalem

☆ Banco do Brasil's quarterly profit edges up on interest income
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Banco do Brasil's adjusted net income reached 8.79 billion reais ($1.79 billion) during the period, while analysts polled by Refinitiv expected 8.98 billion reais. Loan-loss provisions were at 7.52 billion reais in the period, up 4.7% from the previous quarter and 66.4% higher than a year earlier. Part of that growth was caused by the reclassification of debt from struggling retailer Americanas (AMER3.SA), Banco do Brasil said. The bank's 90-day loan default ratio grew 0.8 percentage points compared to the previous quarter to 2.81%, still well below the delinquency level of its listed peers. The company's interest income rose 21.1% from a year earlier to 23.68 billion reais, while analysts expected 23.28 billion reais.

Persons: Leonardo Benassato, Peter Frontini, Anthony Esposito, Sandra Maler Organizations: Banco, REUTERS, SAO PAULO, Brasil SA, Americanas, Brasil, Thomson Locations: Brasil, Uberaba, Minas Gerais, Brazil

Mining companies in the West are facing two overarching challenges in trying to produce enough metals to enable the energy transition, and at the same time build alternative supply chains to lessen their dependence on China. There is little doubt that Australia is a country well-placed to play a major role in supplying many of the metals vital to the energy transition. The previous models for developing mines appear no longer effective, and even if some projects do progress, they are nowhere near enough to provide enough material for the energy transition. Michael Willoughby, global head of metals, mining and transition materials at HSBC, told a forum at IMARC that there is capital available for mining, but it's located in developing countries such as China, Indonesia and Saudi Arabia. What's not being talked about is how all the new mines, mineral processing and renewable energy equipment is going to be funded.

Persons: Washington Alves, Michael Willoughby, Willoughby, Miral Organizations: Sigma Lithium Corp, REUTERS, Rights, Reuters . Mining, Mining, Resources Conference, HSBC, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, China, Sydney, Asia, Australia, CHINA, Indonesia, Saudi Arabia, New South Wales, U.S

☆ Brazilian Lawmakers Advance Country’s Regulated Carbon Market
▼ + stars: | 2023-10-26 | by ( Paulo Trevisani | Luciana Magalhaes | ) www.wsj.com time to read: +5 min

A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.

Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, ”, Marcio Astrini, Tereza Cristina —, —, Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com

BRASILIA, Oct 26 (Reuters) - Brazil's Finance Ministry is preparing a decree that nearly doubles the tax on the sale of firearms and ammunition, arguing that the measure is necessary to boost revenue and reduce crime, according to a draft document seen by Reuters. Prepared by the revenue service at the request of Finance Minister Fernando Haddad, the decree raises the industrial tax on revolvers, pistols, shotguns, carbines, pepper spray, and other equipment from 29.25% to 55%, in addition to also increasing the tax on ammunition. The proposal was sent by the revenue service to the ministry's executive secretary, Dario Durigan, on Wednesday night. The revenue service declined to comment. The move aligns with other actions by leftist Lula, who has consistently opposed policies that encourage the sale and use of firearms.

Persons: Fernando Haddad, Dario Durigan, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Bernardo Caram, Bill Berkrot Organizations: Brazil's Finance Ministry, Reuters, Finance, Thomson Locations: BRASILIA

FDI in Brazil fell 36% in the first eight months of 2023 to $37.9 billion. Currently, investors in long-term projects in Brazil with exposure to foreign currency pay taxes on currency appreciation over the course of the project - which the central bank has long flagged as a deterrent for FDI. Haddad said he was confident that policymakers had found a tool to shield investors from currency risks keeping them away. Executive orders in Brazil have immediate validity but must be endorsed by lawmakers within four months or they expire. Without that measure, Haddad said it will be "very challenging" to erase the deficit in next year's budget bill.

Persons: Fernando Haddad, Haddad, Luiz Inacio Lula da, Marcela Ayres, Bernardo Caram, Brad Haynes, Christopher Cushing Organizations: Finance, Reuters, Sao Paulo, leftist Workers Party, Executive, Thomson Locations: BRASILIA, Brazil, Brasilia, Sao, United States

Brazil boosted clean electricity generation capacity by more than 35% from 2017 to 2022Solar power accounted for 6.8% of Brazil's electricity generation in 2023, up from about 4.2% in 2022, according to Ember. But overall power generation in key European economies such as Germany remains well below peaks seen around 2018-19, as power generators face shortages of key power fuels such as natural gas in the wake of Russia's invasion of Ukraine. In turn, restricted power output has kept energy costs elevated above long-term averages, which curbed consumption from energy-intensive industries and hobbled overall economic growth. The fact that Brazil's power sector has managed to overcome those challenges to create a world-leading clean power sector may offer counterparts in other regions clues on how to maintain growth rates. Brazil's new position as the cleanest major power sector may also help challenge assumptions that clean power expertise is concentrated in wealthier economies, and may widen the perspective of power sector developers who are trying to map out energy system expansion plans over coming years.

Persons: Sao Jose da Barra, Paulo Whitaker, Ember, Gavin Maguire, Robert Birsel Organizations: REUTERS, HYDRO, National Electric Energy Agency, Reuters, Thomson Locations: Furnas, Sao Jose, Minas Gerais, Central Brazil, BRAZIL, LITTLETON , Colorado, Brazil, France, Argentina, America, Europe, Germany, Ukraine, Asia

☆ Exclusive: Sigma Lithium COO steps down in new leadership shakeup, shares dive
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. Sigma shares were down about 10% around midday in New York. Last week, Reuters reported that divorce proceedings between Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Sigma Chief, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, New York

☆ Exclusive: Sigma Lithium COO steps down in latest leadership shakeup
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsRIO DE JANEIRO, Oct 5 (Reuters) - Sigma Lithium (SGML.V) Chief Operating Officer Brian Talbot left the company at the end of last month, he told Reuters on Thursday, in the latest management shakeup at the Vancouver-based miner. Last week, Reuters reported that divorce proceedings between current Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver

☆ Exclusive: Brazil mineral rights dispute casts shadow on Sigma Lithium expansion
▼ + stars: | 2023-09-28 | by ( Fabio Teixeira | ) www.reuters.com time to read: +6 min

View shows Sigma Lithium Corp SGML.V production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. That transaction, Gardner's lawyers argued, would grant Sigma mineral rights to valuable lithium deposits and hurt RI-X's ability to develop its own mining project. At the time of the transfer, Gardner owned 49% of RI-X and Cabral-Gardner held 51%, documents show. Sigma shares, which had been up 4% in afternoon trading on Thursday, erased gains to close more than 2% lower after Reuters reported on the court injunction. Sigma declined to comment on the New York lawsuit, and said "the divorce proceedings are a private, personal matter and have no impact on how Sigma Lithium conducts business."

Persons: Washington Alves, Ana Cabral, Gardner, Calvyn Gardner, Cabral, Sigma, Fabio Teixeira, Ernest Scheyder, Gabriel Stargardter, Brad Haynes, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Deloitte, Brazilian Mining Association, New, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, Sao Paulo, New York

☆ Brazil police carry out raids as part of Jan. 8 riots probe
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Brazil's flag is reflected on a broken window, after the supporters of Brazil's former President Jair Bolsonaro participated in an anti-democratic riot at Planalto Palace, in Brasilia, Brazil, January 9, 2023. Police, according to a statement, were serving three arrest warrants and 10 search-and-seizure warrants ordered by the Supreme Court in four states - Sao Paulo, Parana, Minas Gerais and Goias. The raids represent the 17th phase of an operation launched in mid-January to identify people who participated in, funded or fostered the riots, in which a crowd invaded and ransacked the Congress, presidential palace and Supreme Court. Earlier this month, the Supreme Court voted to convict the first three people to stand trial for the riots, sentencing them each to at least 14 years in prison. Bolsonaro himself has faced a congressional inquiry surrounding the Jan. 8 insurrection and multiple police probes overseen by the Supreme Court.

Persons: Jair Bolsonaro, Ueslei Marcelino, Luiz Inacio Lula da Silva, d'état, Bolsonaro, Gabriel Araujo, Bernadette Baum 私 Organizations: REUTERS, SAO PAULO, Police, Supreme Locations: Planalto, Brasilia, Brazil, Sao Paulo, Parana, Minas Gerais, Goias

☆ Up in the air: Brazilian firefighters make unusual trip to salvage organ transplant
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

Patient Ricardo Medeiros de Oliveira reacts after a kidney transplant at the hospital Santa Casa de Juiz de Fora, state of Minas Gerais, Brazil September 25, 2023. REUTERS/Michelle Cafiero Acquire Licensing RightsRIO DE JANEIRO, Sept 26 (Reuters) - When it comes to organ transplants, every second counts. But without immediate communication with Oliveira, firefighters decided to pick him up directly. "He would have lost this organ if he had not gotten to the hospital in time," firefighter spokesperson Major Fabio Contreiras said. Reporting by Sergio Queiroz; Writing by Carolina Pulice; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Ricardo Medeiros de Oliveira, Michelle Cafiero, Oliveira, Fabio Contreiras, Sergio Queiroz, Carolina Pulice, Jamie Freed Organizations: REUTERS, DE, Thomson Locations: de Fora, Minas Gerais, Brazil, DE JANEIRO, Rio de Janeiro

☆ Sigma Lithium to explore alternatives after proposals for miner, Brazil unit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Workers of Sigma Lithium Corp are seen at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsSept 13 (Reuters) - Miner Sigma Lithium (SGML.V), said on Wednesday it is evaluating strategic alternatives for the whole company, including its Brazilian unit, sending the company's U.S.-listed shares up 14.8% in premarket trading. The company said it has received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium. The proposals were from "global industry leaders in the energy, auto, batteries and lithium refining industries", according to Sigma Lithium. Sigma Lithium CEO Ana Cabral-Gardner said in July that Bank of America was coordinating talks with parties interested in acquiring it.

Persons: Washington Alves, Calvyn Gardner, Ana Cabral, Gardner, Sourasis Bose, Shounak Dasgupta Organizations: Sigma Lithium Corp, REUTERS, Sigma, Sigma Lithium, of America, LG Energy, Thomson Locations: Itinga, Minas Gerais, Brazil, U.S, Sigma Brazil, Vancouver , British Columbia, Bengaluru

☆ BHP says Brazilian court approves Samarco debt reorganisation plan
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Melanie Burton/File Photo Acquire Licensing RightsSept 4 (Reuters) - Australian mining giant BHP (BHP.AX) said on Monday a Brazilian court had approved the reorganisation plan for its Samarco joint venture, clearing the path for the cash-strapped Brazilian miner to move ahead with a $3.7 billion debt restructuring. On Sept. 1, the Second Business Court of Belo Horizonte, State of Minas Gerais, formalised Samarco's restructuring plan as part of the ongoing proceedings, BHP said. The reorganisation plan for Samarco, an iron ore miner that is 50% owned by BHP and 50% by Vale (VALE3.SA), allows for the Brazilian miner's existing financial debt to be exchanged for up to $3.7 billion of long-term unsecured debt, BHP said. "The new long-term debt will remain non-recourse to Samarco's shareholders, BHP Brasil and Vale," BHP said in a statement. Samarco, Vale, BHP Brazil, and the federal government of Brazil alongside other public authorities established the Renova Foundation to bring to force socio-economic programs to provide compensation for damage caused by the Samarco dam failure.

Persons: Melanie Burton, BHP, Roushni Nair, Paul Simao, Rosalba O'Brien, Jamie Freed Organizations: BHP Group, REUTERS, Business, Belo, BHP, Vale, BHP Brasil, Samarco, Renova Foundation, Thomson Locations: Perth, Australia, Belo Horizonte, State, Minas Gerais, VALE3, Vale, BHP Brazil, Brazil, Bengaluru

China, Brazil's largest trading partner, funneled $1.3 billion in direct investments into the country last year, the lowest level since 2009, according to a CEBC study. The performance contrasts with overall foreign direct investment (FDI) in Brazil in 2022, which skyrocketed by 95% to $90.6 billion, highest in a decade. Last year, just 28% of announced Chinese projects worth $4.7 billion went ahead, the CEBC said. That compares poorly with 2021, when pledged investments of $5.9 billion were fully realized, bolstered by two oil projects worth nearly $5 billion. Chinese mining firm Honbridge (8137.HK), for example, announced investments worth $2.1 billion that failed to proceed due to a pending environmental license.

Persons: Cariello, Hua Sheng, Getulio Vargas, Luiz Inacio Lula da Silva, Bernardo Caram, Tom Hogue Organizations: Brazil tanked, China Business Council, HK, U.S ., Sao Paulo Business Administration School, Getulio Vargas Foundation, Thomson Locations: BRASILIA, Brazil, China, Ukraine, U.S, Asia, Beijing

☆ A worldwide lithium shortage could come as soon as 2025
▼ + stars: | 2023-08-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesThe world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. BMI, a Fitch Solutions research unit, was among those that predict a lithium supply deficit by 2025. In a recently published report, BMI largely attributed the deficit to China's lithium demand exceeding that of its supply. "We expect an average of 20.4% year-on-year annual growth for China's lithium demand for EVs alone over 2023-2032," the report stated. While that could point to a global lithium surplus next year, shortages could start to plague supply chains in 2028.

Persons: Susan Zou, Corinne Blanchard, Deutsche, Blanchard, Zou Organizations: Sigma, Bloomberg, Getty, BMI, Fitch Solutions, Economic, Rystad Energy, P, Commodity, EV Locations: Itinga, Minas Gerais, Brazil, China, skyrocket, transportations, U.S, Europe

☆ Brazil clears bottlenecks to oust US as top corn exporter
▼ + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com time to read: +7 min

"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.

Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato

☆ Seven die in crash on bus carrying Corinthians soccer fans in Brazil
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

Aug 20 (Reuters) - Seven people died in a bus crash on a highway in the Brazilian state of Minas Gerais in the early hours of Sunday, said the state's military fire brigade. The bus was carrying fans of soccer team Corinthians, after they attended a match against Cruzeiro in the Minas Gerais capital, Belo Horizonte. Corinthians regretted the accident and expressed its solidarity with the families of the victims. Several other Brazilian soccer clubs also expressed their condolences. President Luiz Inacio Lula da Silva, who is a Corinthians fan, offered his condolences to the family and friends of the victims.

Persons: Corinthians, Luiz Inacio Lula da Silva, Lula, Rodrigo Viga Gaier, Lisa Shumaker Organizations: Corinthians, Cruzeiro, Passengers, Thomson Locations: Brazilian, Minas Gerais, Belo Horizonte

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