December 31, 1998 |
Confidence in Brazil's fragile economy is plummeting once again and investors are fleeing the country, developments that prompted the government to impose emergency tax hikes Wednesday to slash an ominous budget deficit. President Fernando Henrique Cardoso, whose country is seen as the next potential domino in the global economic crisis, acted on the eve of a make-or-break special session of the National Congress called to enact crucial fiscal reform measures.
July 5, 1998 |
A Dodge Dakota pickup truck will roll down Chrysler's assembly line near here Tuesday, inaugurating a $315-million plant and launching a new industrial age in this once-pastoral south Brazilian region. It is the first of three car factories going online here in coming months and is a milestone in the remarkably rapid economic development of a part of Brazil better known for coffee, soybeans and bureaucrats.
October 12, 1997 |
Brazil is booming. But when a society as big, complex and inequitable as this one undergoes a revolutionary economic transformation, the process brings agony as well as ecstasy. Ask Romulo Fisher. Although the surging Brazilian computer market portends a dynamic future, the computer analyst still depends on an apocalyptically erratic telephone system that embodies the past.
December 11, 1996 |
Volkswagen said it will invest $484 million to build Audis and Volkswagens in a new assembly plant in southern Brazil. The plant will be built near Curitiba, the capital of the state of Parana and a gateway for trade with Brazil, Argentina, Uruguay and Paraguay, the four countries that make up the Mercosur free-trade bloc. The plant will employ 1,500 to 2,000 workers. About 40% of the parts will be imported from other Audi factories.
March 7, 1996
N.Y. Group Buys Brazil Rail Line: Brazil sold a 600-mile stretch of railroad to a consortium that includes Chemical Banking Corp. and New York-based holding company Noel Group Inc. for $63 million. The sale--the first of six such rail lines the government plans to auction--fetched 3.6% more than the government sought. It is the first privatized company to be purchased exclusively by foreign investors.
November 2, 1995 |
Brazil's state-controlled telecommunications market, the largest in Latin America, is on the threshold of dramatic changes that promise billions of dollars in new business opportunities for private companies. One of the many U.S. corporations in the running, big and small, is Sprint. "We are going to make the necessary investment to become a big player in Brazil," said Francisco A. Loureiro, Sprint's general manager here. "This is a key market for Sprint."