September 19, 2014
Andres Oppenheimer – Miami Herald, 9/17/2014
Former Brazilian President Fernando Henrique Cardoso confirmed this week something that many of us have suspected: If the opposition wins the Oct. 5 presidential election, there will be changes in Brazilian foreign policy that might affect all of Latin America.
Cardoso, who modernized Latin America’s biggest economy during his two terms from 1995 to 2003 and remains one of Brazil’s most respected politicians, told me in an interview that if opposition candidate Marina Silva wins, she would not give her unconditional support to Venezuela, Argentina and other leftist populist governments, as current President Dilma Rousseff has done.
According to the latest polls, no candidate is likely to win in the first round of voting. In a second round, scheduled for Oct. 26, Socialist Party candidate Silva would have 47 percent of the vote, while Rousseff, of the ruling Workers’ Party, would get 43 percent, according to an Ibope poll released Wednesday.
August 25, 2014
Brad Haynes and Silvio Cascione – Chicago Tribune, 8/22/2014
Many of Brazil’s biggest retailers, homebuilders and carmakers are cutting jobs as Latin America’s largest economy teeters on the edge of recession, a fresh blow to President Dilma Rousseff’s re-election bid.
For years, low unemployment was key to Brazil’s emergence as an economic power and important gains in the fight against poverty.
The unemployment rate remains near record lows of around 5 percent and the leftist Rousseff regularly touts it as a success of the ruling Workers’ Party over the last 12 years.
August 21, 2014
Tim Pennington – International Business Times, 8/21/2014
News stories emanating from Latin America rarely frame the region’s economy in a positive light.
This summer’s excellent World Cup – while not eclipsed on the field – was against a backdrop of strikes and civil unrest in Brazil’s major cities. Similarly, Argentina’s President Cristina Kirchner and her government were forced to default on their debts for a second time in thirteen years.
The negative image that these high-profile stories create does not do justice to the economic transformation taking place in Latin America or the investment opportunities the region now offers to business.
August 6, 2014
Anthony Boadle – Reuters, 8/1/2014
Japan’s Prime Minister Shinzo Abe touted the success of his economic policies on a visit to Brazil on Friday and said it was time for the two nations to expand their trade and investment partnership.
On the first visit to Brazil in a decade by a Japanese prime minister, Japanese banks extended $700 million in loans to boost Brazilian soy and corn exports to Japan and help finance oil platform construction for Brazil’s growing offshore oil industry.
Abe told Brazilian business leaders that Japan has closed a 15-year deflation cycle since his stimulus policies began to kick in and there is great potential to expand trade and investment with Latin America’s biggest economy.
August 5, 2014
Juan Pablo Spinetto – Bloomberg, 8/4/2014
In the 1950s, Japan helped Brazil establish industries such as steelmaking and initiated key purchases of Brazilian iron ore. Now the Asian nation is seeking to regain influence in Latin America’s largest economy, where China is the No. 1 trading partner.
Japan has signed deals from energy to food and health care during Prime Minister Shinzo Abe’s visit to the country, the first by a Japanese leader in a decade. Abe wants to strengthen ties with Brazil, where about 1.6 million people of Japanese descent live, as he urges his country’s companies to seek more business outside their domestic market.
Top representatives from Toyota Motor Corp., Nippon Steel & Sumitomo Metal Corp. and Sumitomo Mitsui Financial Group Inc. were among the business people accompanying Abe in Brasilia and Sao Paulo, the last destinations of a nine-day tour through Latin American and the Caribbean. Brazil is important for Japan because it has industries such as infrastructure and is a safe jurisdiction, said Yutaka Kase, the chairman of Tokyo-based commodity supplier Sojitz Corp.
August 4, 2014
Cristiane Lucchesi – Bloomberg, 8/3/2014
UBS AG (UBS), the biggest Swiss bank, is considering buying a wealth-management firm in Brazil as it seeks to expand that business sevenfold by 2020, said Sylvia Coutinho, chief executive officer of the lender’s Brazil unit.
“We are looking for acquisition opportunities in the Brazilian market,” Coutinho said July 31 in her first interview since taking the job last year.
UBS plans to hire more people for its wealth business and open offices in Rio de Janeiro and Belo Horizonte to serve high-net-worth clients even if it can’t find a firm to buy, she said. The focus will be on those with assets of 5 million reais ($2.2 million) or more to invest, said Coutinho, formerly head of retail banking and wealth management for Latin America at HSBC Holdings Plc.
July 31, 2014
Robert Kozak – The Wall Street Journal, 7/30/2014
Bolivian President Evo Morales on Wednesday labeled Israel a “terrorist state” and announced that Israelis need visas to visit, the latest in a series of measures Latin American countries have leveled against Israel for the violence in the Gaza Strip.
Criticism of Israeli policies has come from some parts of the world. Latin American countries have stood out by coordinating a range of diplomatic measures, including recalling their ambassadors for consultations and issuing sharply worded statements, political analysts said.
“Israel doesn’t guarantee the principle of respect for life, and the basic right to live in harmony and peace in the international community,” Mr. Morales said Wednesday in a speech in the Bolivian city of Cochabamba. There was no immediate Israeli response to Mr. Morale’s accusations or Bolivia’s decision to require that Israeli visitors apply for visas.