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Brazil Investment News and BrBiotec Brazil launched

The Brazilian stock exchange experienced a drop in the stocks trading on Friday due to investor wariness as a result of the fall in equities around the world. The Brazilian benchmark, Bovespa stock index decline drastically towards the negative to 62,195.60. That marked a 2% fall from the previous session. Global stocks fell as major currencies sharply declined as a result of investor worries over sovereign debt problems in some euro-zone nations; fearing that the Greek crisis might affect larger economies. This saw the Brazilian stocks decline rapidly. Brazil’s currency weakened by a margin of 0.17 percent to 1.766 against the US dollar. The renewed worries over the Greek crisis spreading around Europe had a huge impact in Brazil trading last week.

 

In the mean time, 22 Brazilian companies and entities in the Biotechnology sector participated in the Bio International Convention 2010 that was held in Chicago, US for four days ending Thursday last week.  The Conference, done in partnership with the Brazilian Trade and Investment Promotion Agency sought to attract investors to invest in the Brazilian Bio sector that continues to perform quite well. Brazil is one of the world’s leading countries in Ethanol production form sugar cane. The BrBiotec Brazil brand was launched to showcase the Countries biotech products internationally.

 

Latest figures indicate that the Biotechnology sector earns about $10 billion per annum. A lot of emphasis in this sector has been laid on public health and natural environment. It is estimated by the National Biotechnology Policy that the country will top the five largest business poles in the world till 2015. Rising consumer prices, industrial output and an increasing domestic demand are likely to pressure the Brazilian central bank into raising interest rates in the coming days.   The inflation rate continues to rise as economic recovery advances at a corresponding pace. The Brazilian economy has consistently performed well from the recession and the raise in interest rates is expected tone it down a little bit. The tax expectations for next year are a major concern.

 

The financial crisis in Europe has however been at the Central bank’s sights with the announcement that depending on the fallout created and its overall impacts, Brazil could cut short its monetary tightening cycle. In spite of this worries, the economy continues to show a sustained resilience with investor sentiment cautiously positive. Unemployment remains at low levels with the IBGE reporting a marked increase in the output of the mines and factories.

08 May 2010