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Economy & Business - January 2004
Parmalat: a big problem in Brazil
Shares in the state-controlled
oil company, Petroleos Brasileiros (Petrobras), surged at the beginning
of the year. In the first three trading days they jumped 15%, far outperforming
the Bovespa. Petrobras executives said that the rise was being powered
by a switch by international investors: they were dumping shares in Chinese
oil companies and switching into Petrobras. The rise in the value of the
shares is good news for the company, which wants to raise US$34bn for
projects between now and 2007. Last year, the company raised US$3.9bn
in debt and equity offerings and another US$1.3bn in project finance.
- The threat of a cheap dollar
- Brazil aims to capitalise
- At last, some evidence of a recovery
- BRAZIL: Central bank surprises and frets about inflation
- ARGENTINA: The real test starts now
- CHILE: Why the central bank cut rates
- PARAGUAY: Record year for soya exporters
- URUGUAY: Exports boom
- VENEZUELA: Down again
- BOLIVIA: Jumpy
- COLOMBIA: Government raises GDP forecast
- ECUADOR: Economically stable
- PERU: Strong growth fails to help Toledo
- COSTA RICA: Cafta deal all but done, as tax revenues rise
- CUBA: Government claims 2.6% growth
- DOMINICAN REPUBLIC: Desperation
- EL SALVADOR: The benefits of the FTA
- GUATEMALA: A troubled inheritance
- HONDURAS: Government drops finance minister
- NICARAGUA: Decent year
- PANAMA: Promises of 6% growth
- Colombia to sell Bancafé on 18 February
- Parmalat: a big problem in Brazil
- IRON ORE: CVRD raises prices
- Commodity briefs...
- IMF split over Argentine deal