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☆ Lula courts Chinese tech for Brazil, brushes off "prejudices"
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 14 (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Friday defended his country's pursuit of Chinese communication and semiconductor technology, brushing off security concerns from Western nations led by the United States. [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. Brazil, however, is interested in attracting Chinese investment in these areas, despite recent U.S. pressure discouraging the use of 5G mobile equipment from Huawei. Among their accords, 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.

April 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The Asian/Pacific calendar is pretty light on Thursday, with Chinese trade and Australian unemployment figures for March the main events. Music to investors' - and Fed officials' - ears, but the feelgood factor was snuffed out by the Fed minutes. Fed officials are right to be worried about credit conditions. Recent public remarks from Fed officials suggest they are less worried now.

☆ Brazilians offer fresh perks for BYD plant as Ford talks stall
▼ + stars: | 2023-04-13 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

REUTERS/Stephane MaheBRASILIA, April 13 (Reuters) - Brazilian officials are offering fresh incentives including land for Chinese manufacturer BYD to build an electric car plant in Bahia state amid stalled talks to take over a closed Ford plant, said three people familiar with discussions in Shanghai on Thursday. However, Brazilian officials on Thursday discussed an alternative site in Bahia where BYD could build a factory from scratch if the talks with Ford prove futile. Ford and BYD did not immediately respond to requests for comment. BYD made it clear they would have no issue setting up a new plant, the sources said. However, drawn out talks with Ford have stalled plans.

☆ Opinion: Amid fallout of Macron-Xi meeting, another world leader tries his luck
▼ + stars: | 2023-04-13 | by ( Frida Ghitis | ) edition.cnn.com time to read: +8 min

Editor’s Note: Frida Ghitis, a former CNN producer and correspondent, is a world affairs columnist. She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. Like most of China’s diplomacy, the country paints itself as champion of global peace, even as it launches menacing military maneuvers. French President Emmanuel Macron and Chinese President Xi Jinping shake hands at a signing ceremony at the Great Hall of the People, Beijing, April 6. Just hours after Macron left, China launched an alarming military operation, encircling Taiwan in a simulation of an assault.

☆ Brazil lures China's Cofco to finance recovery of degraded land
▼ + stars: | 2023-04-12 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +3 min

"They have every interest," said Augustin, adding that a Cofco delegation is expected for talks in Brasilia next month. China is Brazil's biggest trade partner and Brazil accounts for 22% of Chinese imports, driven largely by farm goods. One version would have farmers guarantee sale of their production to the companies that finance land recovery, he said. "You don't need to deforest another hectare to increase (farm) production," Augustin said. Agriculture Ministry studies estimate a cost of 15,000 to 23,000 reais to recover one hectare of degraded land.

☆ Russia-Ukraine war live: Russia risks becoming China's 'economic colony,' CIA chief says; U.S. faces angry allies over leaks
▼ + stars: | 2023-04-12 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

The Biden administration is continuing to deal with allies upset over revelations from a trove of leaked Pentagon files, which exposed classified details on the war in Ukraine as well as political and military affairs in the Middle East, China, South Korea and elsewhere. Financial data shows a sharp rise in the use of China's yuan for financing globally, as some countries try to move away from reliance on the U.S. dollar. The director of the CIA warned that Russia risks becoming an "economic colony" of China as it becomes more isolated. Meanwhile, world leaders are making their visits to see Chinese President Xi Jinping in Beijing, with Brazilian President Luiz Inácio Lula da Silva there now, just days after French President Emmanuel Macron's three-day state visit to China.

Bolsonaro's electoral outlook contrasts sharply with former U.S. President Donald Trump, another right-wing populist who challenged the results of his failed re-election campaign. Bolsonaro never conceded his narrow defeat in the October election and continues to question the reliability of Brazil's voting system. RISING CONSERVATIVE STARSStill, conservative powerbrokers allied with Bolsonaro are ready to reshuffle the deck for the next election cycle. He said a TSE decision to bar Bolsonaro from running would only boost the ex-president's political appeal. Any right-wing substitute could win with his endorsement, he added, while side-stepping the high rejection rates Bolsonaro faced as a candidate last year.

RIO DE JANEIRO, April 11 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) aims to sign a deal for the sale of 20 commercial jets to a Chinese airline during President Luiz Inacio Lula da Silva's visit to China this week, two people familiar with the matter told Reuters on Tuesday. The deal would mark a breakthrough for Embraer in China, where it has struggled to find new business since the 2016 closure of a joint venture at a factory in Harbin. That venture with Chinese group Avic, launched in 2003 during Lula's first presidential term, produced a previous generation of regional jets and Legacy 650 executive jets. Embraer has delivered 110 commercial aircraft to Chinese airlines, including 70 to Hainan Airlines (600221.SS) and 20 to China Southern (600029.SS), according to securities filings. The planemaker has not received a new order from a Chinese airline since leaving Harbin in 2016.

"I am convinced that both Ukraine and Russia are waiting for someone else to say, 'Let's sit down and talk,'" Lula told journalists last week. Lula has suggested a peace solution could be the return of newly invaded territory, though not Crimea - an option that Ukrainian President Volodymyr Zelenskiy has rejected outright. For his initiative to advance, Lula needs China to send a message to Russia, said a European diplomat in Brasilia. Some 20 agreements to be signed include creation of a sixth satellite in a joint program started in 1988, which will be used for monitoring the Amazon, Brazil's foreign ministry said. China overtook the United States as Brazil's top trading partner in 2009 and is a major market for Brazilian soybeans, iron ore and oil.

☆ Brazil inflation seen staying high in March on rising gasoline costs
▼ + stars: | 2023-04-10 | by ( Gabriel Burin | ) www.reuters.com time to read: +2 min

April 10 (Reuters) - Brazil's inflation likely stayed high in March on rising gasoline bills, reigniting cost of living problems in the country's stagnant economy and probably stoking more disagreement over policy, a Reuters poll showed. Consumer prices cooled in the second half of 2022 in reaction to an aggressive tightening campaign by the central bank. But inflation pressures reemerged after President Luiz Inacio Lula da Silva took office at the start of this year. This would stand very close to the 0.84% rate in February, which had been the quickest in 10 months. A 0.77% inflation rate in March would result in a cumulative 2.2% clip in the first quarter, well on course to surpass this year's goal of 3.25% with a margin of 1.5 percentage points.

☆ Lula says will invite Xi to Brazil as China trip approaches
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, April 10 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Monday he would invite his Chinese counterpart Xi Jinping to Brazil, speaking on the eve of his departure the Asian country in a bid to tighten relations between the two countries. "I am going to invite Xi Jinping to come to Brazil, for a bilateral meeting, to get to know Brazil, to show him the projects that we have of interest for Chinese investment," he said in an interview to state-owned broadcasting company EBC, adding he is planning to "consolidate" the relationship with China. "What we want is for the Chinese to make investments to generate new jobs and generate new productive assets in Brazil," Lula added. Lula's trip to China, Brazil's top trading partner, was initially scheduled for March, but was postponed after he was diagnosed with a mild pneumonia. He will meet Xi as well as Chinese Prime Minister Li Qiang next Friday.

☆ Lula's government should revise Brazil's mandatory spending constraints, says Haddad
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, April 8 (Reuters) - Brazil's government should revise the rules for increasing mandatory expenses and budget constraints before the end of the year, once reform of the tax system has been decided, Finance Minister Fernando Haddad said. "What we want to discuss, after the tax reform, is a rule that ends the chopping and changing, and gives greater stability to this type of spending," Haddad said in an interview published on Saturday by newspaper Folha de S.Paulo. Brazilian governments permanently face spending difficulties because 95% of the federal budget is tied to obligatory expenditure, leaving only 5% for discretionary spending. When they presented the new fiscal framework that proposes limiting real growth in public spending, Treasury officials said it would be necessary to revise the floor for spending on health and education, which is currently linked to the level of government revenues, to avoid reduction in other areas. Reporting by Bernardo Caram; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Deforestation in Brazil's Amazon rises in March
▼ + stars: | 2023-04-07 | by ( Steven Grattan | ) www.reuters.com time to read: +2 min

SAO PAULO, April 7 (Reuters) - Deforestation in Brazil's Amazon rainforest rose 14% in March from the previous year, preliminary official data showed on Friday, highlighting the continued challenges for the new leftist government. President Luiz Inacio Lula da Silva took office on Jan. 1, pledging to end deforestation after years of surging deforestation under his predecessor Jair Bolsonaro, who slashed environmental protection efforts in the Amazon. Space research agency Inpe's data showed 356 square km (137 square miles) were cleared in the Brazil’s Amazon just last month. Washington announced at the beginning of the year it intended to contribute to Brazil's Amazon Fund, which supports conservation projects in the jungle region. Norway also pledged its support last month for Brazil's efforts to attract additional donor countries for the Amazon Fund.

☆ Brazil's Lula mulls inflation target change as interest rates 'inexplicable'
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, April 6 (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Thursday again criticized the country's interest rates, saying at a meeting with journalists that current lending costs were inexplicable and hinting at a potential change to inflation targets. "If the inflation target is wrong, change the target," Lula said, according to remarks broadcast by TV channel GloboNews. Brazil has an inflation target of 3.25% for this year, which will be lowered to 3% in 2024, but consumer prices reached 5.6% in the 12 months through February. Benchmark interest rates stand at a six-year high of 13.75%. Reporting by Eduardo Simoes and Pedro Fonseca; Writing by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

BRASILIA, April 5 (Reuters) - A Supreme Court judge backed a government move to crack down on illegal gold mining in Brazil, suspending a legal practice of buyers accepting the origin of the precious metal with paper receipts based on the "good faith" of the seller. The injunction by Justice Gilmar Mendes gave the government 90 days to adopt a new regulatory framework for the gold trade to stop the sale of gold mined illegally from indigenous lands and other environmentally protected areas. The previous government of President Jair Bolsonaro eased environmental protections and encouraged wildcat mining in the Amazon rainforest. A surge in illegal mining on the Yanomami indigenous reservation caused disease and malnutrition that led the Lula government to declare a humanitarian crisis. The Brazilian Institute of Mining (Ibram), which represents gold mining companies such as AngloGold Ashanti Ltd (ANGJ.J) and Yamana Gold Inc (YRI.TO), as well as multinational giants such as Vale (VALE3.SA), Rio Tinto Ltd (RIO.AX) and BHP Group Ltd (BHP.AX), said 20% of Brazilian gold had no declared origin in 2021, citing data from the National Mining Agency.

☆ At least four children killed in pre-school axe attack in southern Brazil
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view shows forensic technicians, ambulances and policemen outside a pre-school after a 25-year-old man attacked children, killing several and injuring others, according to local police and hospital, in Blumenau, in the southern Brazilian state of Santa Catarina, Brazil April 5, 2023. REUTERS/Denner OvidioApril 5 (Reuters) - At least four children were killed and four other injured when a 25-year-old man armed with a small axe attacked a pre-school in the southern Brazilian state of Santa Catarina on Wednesday, local police and a hospital said. Police said the man responsible for the attack in the city of Blumenau has been arrested. The attack, dubbed by President Luiz Inacio Lula da Silva a "monstrosity," happened nearly a week after a 13-year-old student stabbed a teacher to death and wounded five others in a Sao Paulo school. Reporting by Fernando Cardoso in Sao Paulo, Rodrigo Viga Gaier in Rio de Janeiro; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Around the world, charges are no barrier to high office
▼ + stars: | 2023-04-04 | by ( Caolán Magee | ) edition.cnn.com time to read: +6 min

But charges have often not been a barrier to holding political office. Israel’s Benjamin NetanyahuIsraeli Prime Minister Benjamin Netanyahu in Berlin, March 16, 2023. The prime minister is also currently facing a corruption trial, on charges of fraud, bribery and breach of trust. Lula has called the charges a “farce,” claiming the charges were politically motivated. Angelo Carconi/Associated PressThe flamboyant Italian tycoon was a serial prime minister until standing down in 2011.

Persons: Donald Trump, Israel’s Benjamin Netanyahu, Benjamin Netanyahu, Sean Gallup, Netanyahu, Israel’s, Brazil’s Luiz Inácio Lula da Silva, Luiz Inácio Lula Da Silva, Ulysses Guimarães, Andressa Anholete, Lula, Jair Bolsonaro, Argentina’s Cristina Fernández de Kirchner, Cristina Fernández de Kirchner, Luis Robayo, Fernández de Kirchner, ”, Malaysia’s Anwar Ibrahim Malaysia's, Anwar Ibrahim, Arif Kartono, Anwar, –, Italy’s Silvio Berlusconi Silvio Berlusconi, Angelo Carconi, Berlusconi Organizations: CNN, Trump, Brazil’s Luiz Inácio Lula da Silva Brazilian, Centro de, Petrobras, Getty, Alliance of Hope, Associated, Italy’s Senate Locations: Israel’s Benjamin Netanyahu Israeli, Berlin, Brasilia, Brazil, America, La Plata, Argentina, AFP, Permatang, Malaysia's Penang, Malaysian, Malaysia, Rome, Italy, Italy’s

☆ Brazil envoy met Putin to push Ukraine peace talks - CNN Brasil
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, April 3 (Reuters) - Brazilian President Luiz Inacio Lula da Silva sent his top foreign policy adviser to speak to Russian leader Vladimir Putin about potential peace talks to end the war in Ukraine, CNN Brasil reported on Monday. "It would be an exaggeration to say the doors are open (to peace talks), but it's not true to say they are totally closed," the envoy Celso Amorim told CNN Brasil in an interview published on its website. Two government officials told Reuters that Amorim stopped in Paris on his way back to Brazil, but they provided no details of his engagements there. Lula has proposed creating a group of countries to mediate peace talks between Russia and Ukraine in a war that has raged for more than a year. Reporting by Anthony Boadle and Lisandra Paraguassu; Editing by Brad Haynes and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil targets Asian e-commerce giants, local companies in tax push
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, April 3 (Reuters) - Brazil will soon unveil tax measures, including a crackdown targeting Asian e-commerce giants and curbs on some company tax benefits, as it looks to raise more than 100 billion reais ($20 billion), Finance Minister Fernando Haddad said on Monday. The e-commerce measures come in response to complaints from local retailers about unfair competition from Asian giants such as AliExpress, Shein, and Shopee. He later told journalists that combating the practice, which Haddad called "smuggling", should generate 7 billion reais to 8 billion reais in new revenue for the government. The most significant impact will come from the government's move to seek approval from the Federal Supreme Court to disallow companies from receiving tax breaks from states on operating expenses, which result in them paying less federal tax. The tax reform proposal should be voted in the Lower House by July and in the Senate by October, Haddad said.

☆ Brazil creates rights medal named after Black writer, replacing princess
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, April 3 (Reuters) - Brazil's leftist government on Monday abolished a human rights medal that former far-right President Jair Bolsonaro had named after the daughter of the country's last monarch, replacing it with a prize named after a Black writer and abolitionist. The medal will now be named after Luiz Gama, who was a leader of the movement to abolish slavery in Brazil in the 19th Century. The government of President Luiz Inacio Lula da Silva established a human rights ministry as soon as it took office in January and has now created the prize named after Gama. "It is not that a white person cannot be part of the anti-racist struggle, but about recognizing an abolitionist Black man as a defender of human rights," deputy minister Rita Oliveira said in a statement. Reporting by Anthony Boadle; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Almost a third of Brazilians disapprove of Lula, poll shows
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +1 min

Lula, who took office in January after narrowly defeating Bolsonaro in an election last October, has the approval of 38% of Brazilians, with 29% disapproving of his performance, according to a Datafolha survey. Bolsonaro, who served as president from 2019 to the end of 2022, never formally conceded defeat to Lula. On Jan. 8, barely a week after Lula began his third term as president, Bolsonaro supporters stormed government buildings in the federal capital Brasilia to protest the election result. After about three months in self-imposed exile in the United States, Bolsonaro returned to Brazil this week. The margin of error for the poll is plus or minus two percentage points.

☆ Brazil meal payments overhaul delayed by central bank standoff
▼ + stars: | 2023-03-31 | by ( Marcela Ayres | ) www.reuters.com time to read: +5 min

The Finance Ministry says the central bank has jurisdiction to regulate payment systems, but sources said the central bank resisted early proposals to shake up the market and sought to keep its hands off the segment. The bank's staff believes the voucher market presents no systemic risk. The standoff has added to already high tensions between the Finance Ministry and central bank, the sources said on condition of anonymity. The central bank declined to comment on its reported resistance to regulating the market. The ministry told Reuters such regulation "goes beyond its competencies," and should be handled by the Finance Ministry and the central bank.

☆ Brazil's Lula reschedules China trip, will meet Xi on April 14 in Beijing
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, March 31 (Reuters) - Brazil's President Luiz Inacio Lula da Silva will meet with Chinese President Xi Jinping on April 14 in Beijing, his office said on Friday, rescheduling a visit that was postponed last week after he was diagnosed with a mild pneumonia last week. Lula will leave for China on April 11 and intends to stick to the original agenda, including the signing of some 20 agreements with Brazil's largest trading partner. The trip's aim is to upgrade relations with China now that Lula is back in office and seek new Chinese investment in the Latin American country. It will still be a state visit, with meetings with Xi, the Chinese Prime Minister, Li Qiang, and an event at the National People's Assembly, Lula's presidential office said. Reporting by Lisandra Paraguassu Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Former Brazilian President Jair Bolsonaro Returns From Florida Exile
▼ + stars: | 2023-03-30 | by ( Luciana Magalhaes | Samantha Pearson | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazil’s conservative former President Jair Bolsonaro returned to the country Thursday for the first time since his leftist rival President Luiz Inácio Lula da Silva took office in January, coming home to crowds of supporters and scores of criminal investigations. The 68-year-old army captain-turned-politician, who had been hunkered down in Florida since late December, is being investigated by the Supreme Court over prosecutors’ accusations that he incited attacks on government buildings earlier this year. Mr. Bolsonaro has denied any wrongdoing, saying he welcomes probes into what Mr. da Silva has branded a coup attempt on his government.

☆ Brazil unveils new budget rules to ease market jitters on fiscal discipline
▼ + stars: | 2023-03-30 | by ( Marcela Ayres | ) www.reuters.com time to read: +2 min

BRASILIA, March 30 (Reuters) - Brazil's Finance Ministry unveiled on Thursday a proposal for new fiscal rules to balance limits on spending growth with the government's vow to boost social programs and public investment. The new fiscal framework proposed in a Finance Ministry presentation on Thursday combines a looser spending cap with primary budget targets, as reported by Reuters on Wednesday. Spending growth would also be limited to 70% of revenue growth in the prior 12 months. The primary budget target would have a margin of plus or minus 0.25 percentage points. However, the Finance Ministry recently estimated that the shortfall will be 107.6 billion reais, equal to 1.0% of GDP, helped by a jump in expected tax revenue.

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