Posted by Rachel
Let’s take a look at some headlines from economic news in Brazil this week:
Posted by Rachel
China has been in the headlines with Brazil this week, as newspapers report a growing commercial, political and even cultural proximity between the two BRIC countries. Let’s take a look at the biggest stories. 
- China makes big moves in Latin America, Miami Herald
- Rio de Janeiro hosts entrepreneurs from China and Lusophone states, MacauHub
- Brazil’s real rises to 11-month high on Chinese manufacturing, Bloomberg
- Rio Tinto shares drop on China spying claims, Reuters
- Brazil pulp company Suzano posts record 2nd quarter profit, Wall Street Journal
- China, Brazil to clash in Macau Grand Prix, China View
- China development plans Brazil, Russia, Egypt Offices, Bloomberg
Posted by Rachel
President Lula Inacio da Silva made a historic visit to Saudi Arabia this week, the first of its kind for a Brazilian president. He met with King Abdullah, as well as Abdurrahman al-Attiyah, the secretary general of the Gulf Cooperation Council. President Lula went with Brazilian businessmen, but also discussed political and cultural ties.
Officially, the visit was meant to be a political move. The Brazilian government wants to use Saudi Arabia as a jumping off point for strengthening ties with the rest of the Middle East.
But in reality, the visit focused largely on trade with Saudi Arabia. Brazil and Saudi Arabia are already commercial partners; annual trade between the two countries amounts to US$5.5 billion. Brazil is Saudi Arabia’s #1 supplier of frozen chicken, and is also a major supplier of beef. During the visit, the Saudis expressed interest in extending trade in pharmaceuticals, oil exploration, and agriculture. Also, the Gulf Cooperation Council is interested in a free trade agreement with Mercosur, of which Brazil is a key player.
On Sunday, President Lula and King Abdullah signed a cooperation agreement in the areas of oil, mining, science, and infrastructure, and to increase trade between the two countries.
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