Archive for June, 2013

Brazil World Cup Puzzle Is What to Do With Stadiums at End

June 14, 2013

Anticipation in Brazil for next year’s World Cup is being subdued by concern over what to do with many of the 12 stadiums hosting matches after soccer’s biggest tournament ends.

Delays and cost overruns mean that by the time the first ball is kicked in just under a year, the bill for the new and refurbished venues probably will exceed the government’s latest estimate of 7 billion reais ($3.3 billion). Including urban construction, Brazil is spending 30 billion reais on World Cup projects.

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Brazil to Woo Big Oil by Offering 30% of Libra’s Profits

June 14, 2013

Brazil is preparing to woo producers by offering at most a 30 percent take for developing its largest oil field. Analysts say it’s enough to spur interest.

The oil regulator is preparing a road show to the U.S., Europe and Asia in late June and early July to market Libra, the largest oil discovery in Brazil that is up for auction in October, Magda Chambriard, the head of the National Petroleum Agency, said yesterday. The quality of the oil and the size of the reserves have lured the interest of all major companies from Chevron Corp (CVX). to China Petrochemical Corp., or Sinopec, she said. (more…)

Brazil offers new credit line as Rousseff pushes positive agenda

June 12, 2013

(Reuters) – Brazil will hand out 17 billion reais ($8 billion) in cheap loans for home appliance purchases, the government said on Wednesday, in a move to bolster Brazilians’ buying power as a lackluster economy and high inflation erode its approval rating. (more…)

TED Announces Plans to Move Annual TEDGlobal Conference to Rio de Janeiro in 2014

June 12, 2013

NEW YORK, June 12, 2013 /PRNewswire/ — TED, the nonprofit known for “Ideas Worth Spreading,” announces today it will move its annual TEDGlobal Conference to Rio de Janeiro, Brazil in 2014, moving from its current Edinburgh, Scotland venue. (more…)