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☆ Brazil's Embraer to build NATO-approved aircraft in Portugal
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

Embraer, which holds 65% of OGMA's capital, makes several types of planes, including a light attack aircraft called "Super Tucano". Embraer also manufacturers the KC-390 military cargo aircraft and it aims for more international deals to sell it. In 2019, the Portuguese government said it would buy five of Embraer's KC-390 military transport aircraft and a flight simulator for 827 million euros. Two sources familiar with the matter said on last week that Austria was looking to advance in talks with Embraer on purchasing four or five KC-390 military cargo aircraft. "President (Lula) wants to encourage the Brazilian defence industry and increase investment in the defence industry," Mucio said.

☆ Ukrainians protest in Lisbon as Brazil's Lula begins visit
▼ + stars: | 2023-04-22 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsUkrainians protest in Lisbon as Brazil's Lula begins visitPostedWaving national flags and haunting pictures of the war, Ukrainians gathered outside the Brazilian embassy in Lisbon on Friday (April 21) to protest controversial remarks made by President Luiz Inacio Lula da Silva about Moscow's invasion.

Lula has been criticised in the West for suggesting Ukraine and Russia are to blame for the conflict that began when Moscow invaded its neighbour in February 2022. Last week he said the United States and European allies should stop supplying arms to Ukraine saying they were prolonging the war. Lula arrived in Portugal on Friday for a five-day visit as he strives to improve foreign ties. Portugal's President Marcelo Rebelo de Sousa, who accompanied Lula at the news conference, said their countries' stance on the war were different. Rebelo de Sousa said Ukraine had the right to defend itself and "recover" its territory.

The remarks brought a strong retort from Washington, where a White House spokesman accused Lula of "parroting Russian and Chinese propaganda." Lula is a pragmatic politician," one of the diplomats told Reuters, requesting anonymity to discuss the sensitive matter. Lula has suggested Ukraine needs to make concessions to end the war and Russia could return recently invaded territory but keep Crimea. The European Union has also rejected Lula's suggestion that both Ukraine and Russia are to blame for the war. Earlier this year, Lula turned down a reported German request to supply artillery ammunition to Ukraine.

[1/3] People protest outside the embassy of Brazil in Portugal over Brazil's President Luiz Inacio Lula da Silva's position on Russia-Ukraine war as he arrives in the country for a state visit in Lisbon, Portugal, April 21, 2023. Two Brazilian officials told Reuters on Thursday that Lula - keen to protect Brazil's neutrality - was expected to avoid criticism of the Western role in the Ukraine war during his visit to Portugal. "Brazil and president Lula have a vocation for peace and the president will work to unite other countries to seek an alternative to end this conflict", Macedo told reporters after receiving the letter. On Tuesday, Ukraine invited Lula to visit, a day after Lula had met with Russia's foreign minister in Brasilia. Asked if the president would visit Ukraine, Macedo said Lula's foreign policy adviser, Celso Amorim, would go.

☆ Brazil mulls 'digital tax' on shipments from e-commerce giants -minister
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 20 (Reuters) - Brazil's finance minister said on Thursday the country would implement a new "digital tax" on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50. "We will follow the example of developed nations, a digital tax," Fernando Haddad told reporters. He had already announced the government would look for administrative means and implement heightened oversight to close a tax loophole that Asian e-commerce giants were seen taking advantage of. Alibaba Group's (9988.HK) AliExpress, Sea Ltd-owned (SE.N) Shopee and Shein were seen as the main targets of the measure. Haddad previously said AliExpress and Shopee had agreed with the tax proposal before the government reversed it.

☆ Brazil's government takes measures to boost consumer and capital market credit
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

BRASILIA, April 20 (Reuters) - Brazil's government announced a package of 13 measures on Thursday to ease consumer access to credit and reduce associated costs in the capital and insurance markets, a move the new leftist administration hopes will boost investment and revitalize a slowing economy. Brazil's Secretary of Economic Reforms, Marcos Barbosa, said the measures aim to strengthen the credit market in the long term, paving the way for the country's capital market to become as robust or larger than the 5 trillion reais ($988 billion) banking market. The package includes a decree to allow the issuance of bonds with an income tax exemption for investments in sectors such as healthcare, education, and public security. The government also plans to introduce legislation to enhance safeguards for minority investors in the capital market against harm caused by unlawful actions of controlling shareholders and administrators. Finance Minister Fernando Haddad on Monday had indicated that the package would also feature a measure to lower revolving credit card rates.

☆ As Xi Befriends World Leaders, He Hardens His Stance on the U.S.
▼ + stars: | 2023-04-20 | by ( David Pierson | ) www.nytimes.com time to read: +1 min

And he has talked on the phone with Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, offering well wishes for the Muslim holy month of Ramadan. But even as Mr. Xi has offered a glad hand to those and other world leaders in recent weeks, it has been only the cold shoulder for the United States. China has rebuffed attempts by the Biden administration to restart high-level talks and lower tensions over Taiwan. And Mr. Xi’s government has intensified a campaign of ridicule and criticism of the United States and Western democracy. And it has lent urgency to concerns that the two powers are on a collision course that could lead to dangerous accidents, or even war, over Taiwan and other geopolitical flash points.

☆ Brazil plans 'digital tax' on shipments from e-commerce giants
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, April 20 (Reuters) - Brazil's finance minister said on Thursday the country would implement a "digital tax" on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50. "We will follow the example of developed nations, a digital tax," Finance Minister Fernando Haddad told reporters. "Consumers will be exempt from any tax collection when they make the purchase, companies will collect it without passing on any additional cost." The source emphasized that the tax in question already exists and will be collected electronically prior to the shipment of goods. Alibaba Group's (9988.HK) AliExpress, Sea Ltd-owned (SE.N) Shopee and Shein were seen as the main targets of the measure.

☆ Ukraine and Russia turn toward the Americas; Zelensky speaks to Mexican lawmakers
▼ + stars: | 2023-04-20 | by ( Tara John | ) edition.cnn.com time to read: +3 min

CNN —Ukrainian President Volodymyr Zelensky on Thursday appealed to Mexico’s Congress for support in the war against Russia, as both Kyiv and Moscow seek to reinforce ties in the Americas. Zelensky’s appeal comes after many Latin American countries have adopted a policy of non-intervention over the war in Ukraine, rebuffing efforts led by United States President Joe Biden to unite the global community in opposition to Russia’s invasion. Mexican President Andres Manuel Lopez Obrador has raised eyebrows among Ukraine supporters for criticizing Western arms shipments into Kyiv. Still, Mexico has voted alongside the United States in UN resolutions calling for Russia to leave Ukraine. Russia's Foreign Minister Sergey Lavrov, left, talks with Brazilian Foreign Minister Mauro Vieira as he leaves Itamaraty Palace in Brasilia, Brazil, on Monday.

☆ Top security adviser to Brazil's president abruptly resigns
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, April 19 (Reuters) - The top national security adviser to Brazilian President Luiz Inacio Lula da Silva resigned on Wednesday, the presidential palace said, amid a scandal related to the aide's presence during the storming of government buildings in the capital. The resignation of Marcos Goncalves Dias, already accepted by the president, follows a report from CNN Brasil that included footage of him walking around the presidential palace while a mob ransacked government buildings in Brasilia on January 8. Reporting by Lisandra Paraguassu; Writing by Peter Frontini; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

☆ Russian Foreign Minister Seeks Deeper Ties in Latin America
▼ + stars: | 2023-04-18 | by ( Luciana Magalhaes | Samantha Pearson | ) www.wsj.com time to read: 1 min

Photo: POOL/REUTERSBRASÍLIA—Russia has embarked on an effort to shore up support in Latin America for its war in Ukraine, with foreign minister Sergei Lavrov visiting Brazil before arriving in Venezuela on Tuesday afternoon as part of a four-country tour. The mission has prompted rebukes from the U.S. and Europe after Brazilian President Luiz Inácio Lula da Silva said that Washington and its allies were prolonging the conflict by supplying Ukraine with arms.

Speaking at a lunch with Romanian President Klaus Iohannis, Lula said a group of neutral nations must come together to help broker peace between Russia and Ukraine. A White House spokesman accused Lula of "parroting Russian and Chinese propaganda without looking at the facts." Lula has pitched himself as a peace broker to end the war, which began when Russia invaded the neighboring country in February 2022. The European Union has also rejected Lula's suggestion that both Ukraine and Russia are to blame for the war. Among Western nations so far, only French President Emmanuel Macron has welcomed Lula's peace initiative.

The GOP’s plan for a one-year debt limit increase, said McCarthy, would roll back domestic, non-defense spending to 2022 levels. Through his speech, McCarthy urged Wall Street to pressure the Biden administration to accept spending cuts. He also said that he wasn’t monitoring stock market conditions as he headed into debt ceiling negotiations. McCarthy expressed concern over these developments on Monday but said the Republican debt ceiling plan could solve some of those problems. “You can utilize the debt ceiling as the opportunity to do it,” he added.

☆ Sanctions against Russia could hurt the US dollar as countries like Iran and China seek alternative currencies for trade: Treasury Secretary Janet Yellen
▼ + stars: | 2023-04-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US sanctions on Russia could threaten the dollar's hegemony, Treasury Secretary Janet Yellen told CNN. The Chinese yuan is a competitor to the US dollar, amid Beijing's big ambitions for the currency. "There is a risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen told CNN's Fareed Zakaria in an interview. Of course, it does create a desire on the part of China, of Russia, of Iran to find an alternative," Yelled said. In January, the US dollar dominated global trade, accounting for about 85% of trade finance, according to a February report from global payments system Swift.

☆ Brazil's Lula calls for 'peace group' to broker Ukraine-Russia deal
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +2 min

He cited Xi and the president of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, both of whom he met this week. Lula had previously said the group should gather countries not "encouraging" war, adding that nations that are supplying weapons should be convinced to stop doing so. Germany earlier this year reportedly asked Brazil to supply arms as well, but Lula refused. Lula had a call with Ukrainian President Volodymyr Zelenskiy earlier this year. Reporting by Gabriel Araujo and Eduardo Simoes in Sao Paulo; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ G7 vows to step up moves to renewable energy, zero carbon
▼ + stars: | 2023-04-16 | by ( ) www.cnbc.com time to read: +6 min

Japan won endorsements from fellow G-7 countries for its own national strategy emphasizing so-called clean coal, hydrogen and nuclear energy to help ensure its energy security. The stipulation that countries rely on "predominantly" clean energy by 2035 leaves room for the continuation of fossil-fuel-fired power. The G-7 nations account for 40% of the world's economic activity and a quarter of global carbon emissions. The document crafted in Sapporo included significant amounts of nuance to allow for differences between the G-7 energy strategies, climate advocates said. "I think energy security is being exaggerated in some cases," Kerry said, pointing to Germany's progress in embracing renewable energy.

☆ China’s Xi Jinping, Brazil’s Lula Take United Stance Against U.S.
▼ + stars: | 2023-04-14 | by ( Austin Ramzy | Samantha Pearson | ) www.wsj.com time to read: 1 min

HONG KONG—Chinese leader Xi Jinping and Brazilian President Luiz Inácio Lula da Silva struck a unified pose in defiance of U.S. foreign and trade policy in a meeting in Beijing on Friday, adding weight to Beijing’s pushback against what it sees as a Washington-led containment effort. “We will work to expand trade and balance world geopolitics,” Mr. da Silva wrote on Twitter after meeting with Mr. Xi.

☆ Brazil proposes zero primary budget deficit in 2024, conditions expenditures to new fiscal rules
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, April 14 (Reuters) - Brazil's Planning Ministry announced on Friday a zero primary deficit target for 2024, but stated that 172 billion reais ($35.03 billion) in government spending depends on the approval of a proposed new fiscal framework. In a statement about the 2024 budget bill sent to Congress, the ministry said the new fiscal rules "will enable the re-composition and execution of priority public policies for the country," as well as government functioning. Lula's new rules combine a more lenient expenditure cap with primary budget targets with flexible bands. In line with this approach, the budget bill has defined that the primary budget balance target may vary by 28.8 billion reais up or down next year. ($1 = 4.9096 reais)Reporting by Marcela Ayres; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

"We have an extraordinary relationship with China, a relationship that every day gets more acute and stronger," Lula said before his meeting with Xi. Brazil and China need to work together so that the relationship is not merely one of commercial interest, he added. China and Brazil did agree to set up a working group to pursue cooperation on semiconductors, strengthening ties with Beijing in areas of sensitive technology. Brazil is now the largest recipient of Chinese investment in Latin America, driven by spending on high tension electricity transmission lines and oil production. On Friday, the two countries agreed to encourage their companies to invest in each country in infrastructure, energy transition, logistics, mining, agriculture and high-tech industries.

[1/2] Security forces operate as supporters of Brazil's former President Jair Bolsonaro demonstrate against President Luiz Inacio Lula da Silva, in Planalto Palace, in Brasilia, Brazil, January 8, 2023. REUTERS/Ueslei MarcelinoBRASILIA, April 14 (Reuters) - A judge on Brazil's Supreme Court has ordered former President Jair Bolsonaro to testify before federal police within 10 days about his role in the Jan. 8 storming of government buildings by his supporters. Bolsonaro has denied any responsibility for the riots - which recalled the 2021 storming of the U.S. Capitol by supporters of former President Donald Trump. His critics say he instigated the riots by inflaming his supporters with attacks on Lula and by repeatedly criticizing Brazil's voting system, which he claimed was open to fraud, though he never provided proof. Bolsonaro returned to Brazil in March but faces legal investigations into his attacks on the voting system and alleged role in encouraging supporters to storm Brasilia on Jan. 8.

☆ World leaders are lining up to meet Xi Jinping. Should the US be worried?
▼ + stars: | 2023-04-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —Xi Jinping has had a busy couple of weeks. “(Chinese leaders) believe it’s time now for China to make its strategic plans,” said Li Mingjiang, an associate professor of international relations at Singapore’s Nanyang Technological University. Beijing has watched uneasily as the war in Ukraine has driven the US and its European allies closer. When French President Emmanuel Macron arrived in Beijing last week, Xi drew comparisons between China and France: both “major countries with a tradition of independence,” Xi said, and “firm advocates for a multi-polar world” – or a world without a dominant superpower. But how Beijing navigates these initiatives, observers say, comes down to a bottom line that’s integrally related to Xi’s global ambitions and world view.

☆ China's Xi greets Brazil's Lula upon visit
▼ + stars: | 2023-04-14 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsChina's Xi greets Brazil's Lula upon visitPostedMeeting in China, Brazil's President Luiz Inacio Lula da Silva and Chinese leader Xi Jinping agreed to deepen cooperation in various fields under the BRICS framework, a joint statement reported by Chinese state media Xinhua said on Friday (April 14).

☆ Marketmind: Banks to test soft landing thesis
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWorld markets have surged this week on renewed hopes of disinflation, peak interest rates and a soft economic landing - and earnings from Wall Street's biggest banks now test the thesis. Markets will be most focussed on bank guidance on how much the March bank failure will crimp lending going forward. Next month's expected interest rate rise from the Federal Reserve is now expected to be the last and futures see up to 70 basis points of cuts from that point to year-end. And with China's booming trade numbers for last month also suggesting the world economy at large will comfortably skirt recession this year, "soft landing" hopes are back in vogue. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Brazil paves way for semiconductor cooperation with China
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Brazil's President Luiz Inacio Lula da Silva gestures near First Lady Rosangela "Janja" da Silva during a visit to Huawei's Research and Development Centre in Shanghai, China, April 13, 2023. Ricardo Stuckert/Handout via REUTERSBEIJING, April 14 (Reuters) - China and Brazil agreed on Friday to set up a working group to pursue cooperation on semiconductors as the South American nation strengthens ties with Beijing in areas of sensitive technology. In an interview with Reuters, Lula's foreign policy advisor Celso Amorim said Brazil will not veto the installation of a Chinese semiconductor factory in Brazil, and is interested in developing the technology in cooperation with China. In the slew of MoUs China and Brazil agreed to "explore mechanisms to promote bilateral cooperation in scientific and technological research and industrial innovation." That would involve joint research and development activities between public, private and academic institutions, and the exchange of scientists and scientific papers.

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