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☆ 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.

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.

☆ Indonesia to propose limited free trade deal with US on critical minerals
▼ + stars: | 2023-04-10 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

Slideshow ( 2 images )JAKARTA (Reuters) - Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from U.S. tax credits, a senior minister said on Monday. Washington has issued a new guidance for EV tax credits under the Inflation Reduction Act (IRA), requiring a certain value of battery components to be produced or assembled in North America or a free trade partner. Indonesia does not have a free trade agreement with the United States, but its nickel products have increasingly become important in the battery supply chain. Asked about the new IRA guidelines, Indonesian minister Luhut Pandjaitan, who has been spearheading efforts to attract U.S. companies, told a news conference Jakarta will propose a limited free trade agreement (FTA) with Washington. “It’s the same in essence, that for critical minerals there will be free trade with requirements on processing, such as for nickel, aluminium, cobalt, copper,” he said.

☆ Young victim of Brazil daycare center attack is buried
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

[1/3] Parents stands alongside the coffin, that contains the remains of their 5-year-old, Bernardo Cunha Machado, who was killed by a man inside a daycare center, during a wake at the Sao Jose cemetery, in Blumenau, Santa Catarina, Brazil April 6, 2023. REUTERS/Vinicius BretzkeBLUMENAU, April 6 (Reuters) - Residents of Blumenau, a city in Southern Brazil, gathered on Thursday at a cemetery to attend the burial of one of the four children killed by a man armed with a small axe in a local daycare center. On Wednesday, a 25-year-old man scaled the wall of the daycare center, killed four children and wounded five others, before turning himself in. Police said three boys - two aged 4 and one aged 5 - and one girl aged 7 were killed. The attack came nearly a week after a 13-year-old student stabbed a teacher to death and wounded five others in a Sao Paulo school.

NEW DELHI/LONDON, April 6 (Reuters) - Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. The ban comes on top of a halt late last year on Russian crude sales into the bloc as well as Western price caps. Also in March, Russian clean products shipped to Togo reached 973 million MT-NM, up from zero in November. Conversely, Russian exports to the Netherlands dropped to 238,200 tonnes in February from 1.15 million tonnes in September. Those longer distances are being done at higher costs for Russian products than for typical shipments from Europe.

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.

☆ 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.

BRASILIA, March 29 (Reuters) - The goal of Brazil's new fiscal framework will be a zero primary deficit in 2024, followed by surpluses in subsequent years, as President Luiz Inacio Lula da Silva seeks a sustainable trajectory for the country's public debt, government sources told Reuters on Wednesday. According to one of the sources, the primary surplus will be equivalent to 0.5% of GDP in 2024, rising to 1% of GDP in 2025. The new framework will combine a target for primary results with a spending rule and will have adjustment mechanisms in case of noncompliance. Sources spoke anonymously, as the topic is being addressed in private conversations with congressmen. Talking to reporters, Padilha said that the leaders of Brazil's Congress have indicated that, once submitted, the fiscal rules should be quickly approved.

☆ Exclusive: Soccer-Ancelotti to Brazil would be a no-brainer, CBF president says
▼ + stars: | 2023-03-26 | by ( Fernando Kallas | ) www.reuters.com time to read: +3 min

Not only Ronaldo Nazario or Vinicius Jr but all those that have played for him," Rodrigues told Reuters in an exclusive interview. He is really a top coach who he has several achievements and we hope he can have even more." But according to Rodrigues, Ancelotti fever has already caught on in Brazil too. "Everywhere I go in Brazil, in every stadium, he is the first name the supporters ask me about. We need a coach who has the players' respect and admiration," Rodrigues added.

☆ China to decide new date for Brazil's Lula visit, agreements postponed
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

March 26 (Reuters) - Brazil's Agriculture Minister Carlos Favaro said on Sunday that the Chinese government would decide on a new date for Brazilian President Luiz Inacio Lula da Silva's visit to the country, adding that the signing of agreements between Beijing and Brasilia has been postponed. "All government actions are postponed, including those of the Agriculture Ministry," Favaro, who arrived in China last week, said during a news conference in Beijing. "When the Chinese government is ready, with an available schedule, the visit will certainly be rescheduled, and we will return to continue signing all memorandums and agreements." The minister said that agreements between Brazilian and Chinese companies are still expected to be announced on March 29. About 240 Brazilian business leaders were initially expected in China, over a third from Brazil's farm sector, which sends the majority of its beef, soybeans, and wood pulp to China.

☆ Ex-Brazil president Bolsonaro is hoarding a stash of jewels Saudi Arabia gave him — but was just ordered to give them away
▼ + stars: | 2023-03-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Brazil's watchdog ordered former President Jair Bolsonaro to hand over valuable jewels. He received the gift on a trip to Saudi Arabia, and another stash was seized by customs. Jewelry gifted to former Brazilian President Jair Bolsonaro and former first lady Michelle Bolsonaro by the Saudi government and seized by customs officials. It later emerged that a second stash of jewels, valued at around $75,000, also entered the country undetected, and were in Bolsonaro's possession. It is this this second stash that the watchdog has ordered Bolsonaro to hand back, reports say.

BRASILIA, March 23 (Reuters) - Brazilian President Luiz Inacio Lula da Silva heads to China this weekend for a five-day visit to refresh relations with his country's largest export market and seek new Chinese investment in the Latin American country. "Brazil has to keep a flexible and pragmatic position in this dispute between China and the United States," said Senator Hamilton Mourao, who as Brazilian vice president met with Xi in Beijing in 2019. CHINESE INVESTMENTLula drew Brazil closer to China and traveled twice to Beijing during his two presidential terms from 2003 to 2010. Trade relations were not affected by the diplomatic storm, though Chinese investment stalled, due in part to the pandemic preventing China's executives from visiting Brazil. By 2021, investment by Chinese companies in Brazil recovered to the level of 2017, according to the China-Brazil Business Council, which forecasts steady growth in coming years.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

☆ Brazilian researchers find 'terrifying' plastic rocks on remote island
▼ + stars: | 2023-03-15 | by ( Sergio Queiroz | ) www.reuters.com time to read: +2 min

[1/6] "Plastic rocks" found on Trindade Island in the state of Espirito Santo is seen at the laboratory of the Federal University of Parana, in Curitiba, state of Parana, Brazil March 7, 2023. REUTERS/Rodolfo BuhrerTRINDADE ISLAND, Brazil, March 15 (Reuters) - The geology of Brazil's volcanic Trindade Island has fascinated scientists for years, but the discovery of rocks made from plastic debris in this remote turtle refuge is sparking alarm. Melted plastic has become intertwined with rocks on the island, located 1,140 km (708 miles) from the southeastern state of Espirito Santo, which researchers say is evidence of humans' growing influence over the earth's geological cycles. Trindade Island is one of the world's most important conservation spots for green turtles, or Chelonia mydas, with thousands arriving each year to lay their eggs. The only human inhabitants on Trindade are members of the Brazilian navy, which maintains a base on the island and protects the nesting turtles.

Using the U.S. government’s latest estimates, Argentina’s corn and soy yields are set to fall 29% and 33%, respectively, from the long-term trends. Corn and soy yields fell 13% and 28% below trend in 2009, respectively, and they each fell 24% in 2018. Corn and soy yields: Argentina, Brazil, USAUSAComparable U.S. drought events include 1988 and 2012, where corn yields fell a respective 28% and 24% below trend. The only other year since where corn losses came anywhere close was 1993, when extreme flooding cut corn yield by 19%. Corn yields fell more than 40% below trend in Illinois and Indiana in 2012, and in Iowa and Minnesota in 1993.

☆ Meta's oversight board to review moderation of Arabic word 'shaheed'
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

March 9 (Reuters) - Meta Platforms' (META.O) oversight board said on Thursday it would review the moderation of the Arabic word "shaheed", which means "martyr" in English, as it accounts for more content removals on its platforms than any other single word or phrase. Meta has asked the board for advice on whether it should continue to remove posts that use the word "shaheed" to refer to individuals designated as dangerous, or use a different approach, the board said. "This is a complex moderation issue that impacts how millions of people express themselves online and whether Muslim and Arabic-speaking communities are subject to over-enforcement of their content because of Meta's enforcement practices," said Thomas Hughes, director of oversight board administration. The oversight board was created in late 2020 to review Facebook and Instagram's decisions on taking down or retaining certain content and make rulings on whether to uphold or overturn the social media company's actions. Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ After steep climb in rates, Latam central banks show no signs of reversal
▼ + stars: | 2023-03-07 | by ( Isabel Woodford | ) www.reuters.com time to read: +4 min

The Brazilian central bank's weekly survey of private economists last year foresaw cuts in June 2023, but a recent survey pushed the forecast back to November. The central bank's poll of traders now expects cuts won't come until May, likely making Chile the first mover. "We've had a quite a few hawkish comments from central banks across the region, pushing back against the idea of rate cuts," she added. That gives central banks the message that it's not quite time to think about a more relaxed monetary policy," he said. Political unrest in Peru may have also moved back the goalpost for cuts, with the central bank warning that protests have caused supply chain disruption and impacted consumer prices.

☆ Brazil investigates undeclared $3 million jewelry gift to Bolsonaro
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, March 6 (Reuters) - Brazilian Justice Minister Flavio Dino on Monday ordered police to investigate an alleged attempt to bring in undeclared jewelry, a gift from Saudi Arabia valued at $3.2 million, to former far-right President Jair Bolsonaro. The diamond necklace, ring, watch and earrings gifted to Bolsonaro and former first lady Michelle Bolsonaro by the Saudi government were seized by customs officials at Sao Paulo's international airport in October 2021. Bolsonaro's critics said gifts to president belong to the state and must go into a presidential collection. In his only public comment on the jewelry, Bolsonaro said he was being "crucified" for a gift he never asked for and never received. ($1 = 5.2093 reais)Reporting by Ricardo Brito; Writing by Anthony Boadle; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ At right-wing CPAC forum, Trump shows why he'll be tough to topple
▼ + stars: | 2023-03-05 | by ( James Oliphant | ) www.reuters.com time to read: +6 min

[1/4] Former U.S. President Donald Trump attends the Conservative Political Action Conference (CPAC) at Gaylord National Convention Center in National Harbor, Maryland, U.S., March 4, 2023. The three-day conference illustrated the iron grip he holds over the right-wing, grassroots base of his party and how hard it could be for a challenger to deny Trump the Republican presidential nomination in 2024. DeSantis also attended a gathering for Republican donors in Florida held by the anti-tax group Club for Growth to which Trump was not invited. In his remarks, Bannon maintained that Trump should be the Republican nominee, saying DeSantis and other potential challengers lacked experience. Trump and DeSantis both are scheduled in the coming days to visit Iowa, which holds the first Republican nominating contest next year.

☆ Brazil's Petrobras faces legal risks after halting asset sales -lawyers
▼ + stars: | 2023-03-03 | by ( Marta Nogueira | ) www.reuters.com time to read: +2 min

Lula appointee Petrobras Chief Executive Jean Paul Prates told reporters on Thursday "everything is halted for analysis." There is no stipulation for that," Alexandre Calmon, lead partner of law firm Campos Mello Advogados' energy area, told Reuters. "That would be a breach of contract," he said, adding if "Petrobras fails to do something that it is obligated to do, it can be held responsible." The lawyer also explained that sale processes already signed but not concluded are not under the control of the oil company. The sale halt marks a major shift from the stance taken by former President Jair Bolsonaro's administration, which oversaw a number of Petrobras assets sales, including oilfields and refineries.

GMO wheat has never been grown for commercial purposes due to consumer fears about allergens or toxicities in the staple crop used worldwide for bread, pasta and pastries. The association was against adopting GMO wheat previously, but changed its stance after a survey it commissioned showed more than 70% of Brazilians would not mind consuming products containing it. Bioceres has said its GMO wheat "showed higher yields than conventional varieties across all environments, with an average 43% yield improvement in targeted environments." In November 2021, Brazil became the first country in the world to allow imports of flour made with GM wheat. "The approval for planting, imports and commercialization of GMO wheat resolves this issue, bringing peace of mind to different market actors," Abitrigo said in a statement.

[1/2] Iranian military ship Iris Makran navigates on the coast of Rio de Janeiro as a Brazilian flag flutters in Copacabana Beach, Brazil, February 27, 2023. REUTERS/Ricardo MoraesRIO DE JANEIRO, Feb 27 (Reuters) - Two Iranian warships docked in Rio de Janeiro on Sunday after Brazilian President Luiz Inacio Lula da Silva's government granted permission despite pressure from the United States to bar them. "In the past, those ships facilitated illegal trade and terrorist activities, and have also been sanctioned by the United States. Brazil is a sovereign nation, but we firmly believe those ships should not dock anywhere," she said. He traveled to Tehran to meet then-President Mahmoud Ahmadinejad in 2010 as he sought to broker a nuclear deal between Iran and the United States.

☆ Brazil bank lending down for the first time in a year in January
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Feb 27 (Reuters) - Outstanding loans in Brazil decreased by 0.3% in January, according to central bank data on Monday, marking the first decline in a year. The result suggests a slowdown that is likely to gain momentum in a scenario of high borrowing costs following the aggressive monetary tightening implemented by the central bank to curb inflation. Bank loans in Latin America's largest economy have decelerated amid more expensive credit, as the country's benchmark interest rate stands at 13.75% from a record low of 2% in March 2021. The central bank has left interest rates unchanged since September, but data from the central bank shows that average interest rates on non-earmarked loans have increased to 43.5% per year from 41.7% in December. Bank lending spreads also grew from 28.7 points the month before to 30.6 percentage points, while a broad measure of Brazilian consumer and business default ratios increased to 4.5% from 4.2% in December.

☆ Death toll from Brazil floods, landslides reaches 57
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Feb 24 (Reuters) - The death toll from heavy rains that devastated coastal areas of Brazil's southeastern Sao Paulo state reached 57 people on Friday, official figures showed. Massive downpours have caused landslides and flooding in coastal towns of Brazil's richest state since last weekend. The city of Sao Sebastiao bore the brunt of the human toll, with 56 of the reported deaths. The Sao Paulo state government said in a statement that more rains were expected on Friday while search and rescue efforts continued with dozens still missing. On Thursday a Brazilian Navy ship arrived in Sao Sebastiao to help rescue victims.

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