Spain's Abengoa says buys Brazil's Dedini Agro

(Reuters) - Abengoa will assume an additional 281 million euros of debt,
it said, adding it was now the world's only bio-ethanol producer
present in the three biggest markets: Brazil, Europe and the
United States.




As of a year ago, Dedini Agro was Brazil's 16th largest
ethanol producer with around 0.4 percent of national output.


Read more at Reuters.com Mergers News

Canada's Dollar Strengthenens as Crude Oil Surges, Growth Accelerates

(Bloomberg) -- Canada's dollar rose, ending its two-
week losing streak, as crude oil prices touched a record high,
and economic growth accelerated in May.

Canada's currency has gained this year as the Bank of
Canada raised interest rates to stem inflation and cool the
expanding economy. The currency, up more than 11 percent against
the U.S. dollar this year, is the second-best performer among 16
most actively traded currencies, trailing only Brazil's real.


Read more at Bloomberg Currencies News

Brazilian company to rebuild crucial Angola dam

(Reuters) - Brazilian company Odebrecht is set to rebuild a crucial hydroelectric dam in Angola, raising hopes that foreign investment will boost an electricity industry battered by civil war, a state official said on Thursday.

The $158 million, 20-month project approved by the Angolan cabinet on Wednesday, has raised hopes that businesses in the southern region stand to benefit from investment.


Read more at Reuters Africa

Brazil's FIPE inflation slows to 0.27 pct in July

(Reuters) - Clothing prices fell 0.62 percent and transport costs
extended their drop to 0.38 percent after 0.16 percent the
previous month. Food prices rose the most, by 1.06 percent, but
much less than in June, when the rise was of 1.9 percent, due
to a seasonal decline in output of certain crops.




The Fipe index is closely watched by economists for trends
in Brazil's benchmark IPCA inflation index, which is used by
the central bank to set interest rates.


Read more at Reuters.com Economic News

Cotton Futures Rise on Speculation U.S. Farmers May Further Cut Acreage

(Bloomberg) -- Cotton rose to a one-week high in New
York on speculation farmers will switch acres to other crops
because of concern a World Trade Organization ruling may threaten
U.S. subsidies for growers of the fiber.

The WTO ruled last week the U.S. failed to overhaul its
subsidies to growers sufficiently to comply with trade rules, the
U.S. Trade Representative's office and Brazil said. U.S. farmers
cut cotton acreage by 28 percent this year from 2006, with many
switching to corn after it rallied to a 10-year high in February.


Read more at Bloomberg Commodities News

Sugar Rises on Prospect Rally in Crude Oil Prices Boosting Ethanol Demand

(Bloomberg) -- Sugar in New York gained on
speculation rising crude oil prices will boost demand for
ethanol, diverting sugar cane away from production of the
sweetener in Brazil.

Crude oil reached an 11-month high of $77.33 a barrel in
New York today after gaining for seven straight weeks. Brazil,
the biggest producer of sugar-cane based fuel and sweetener, has
boosted ethanol production while cutting back on sugar output so
far this season.


Read more at Bloomberg Commodities News

Brazilian Real Gains For First Time in Four Days Amid U.S. Growth Optimism

(Bloomberg) -- Brazil's real rose for the first
time in four days as stronger-than-forecast U.S. growth eased
concern that worsening credit markets will prompt investors to
avoid emerging market securities.

``The data came as a relief, especially because it showed
construction activity is strong,'' said Joao Prado, a fixed-
income options trader at Agora Corretora, a brokerage in Rio de
Janeiro.


Read more at Bloomberg Currencies News

Brazil's Bovespa Tumbles on Rate, Credit Concerns: Latin American Stocks

(Bloomberg) -- Brazilian stocks fell the most in five
months, led by commodity producers and banks, after the central
bank signaled it may slow the pace of interest rate cuts, curbing
economic growth.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 2,263.76, or 4 percent, to 53,737.54 at 1:02 p.m. New
York time, the steepest drop since Feb. 27. The slide was part of a
global equities rout spurred by credit quality concerns in the U.S.
The Morgan Stanley Capital International index of Latin American
shares fell 4.1 percent.


Read more at Bloomberg Stocks News

Brazil markets plunge on worries about US economy

(Reuters) - Brazil's currency, the real , weakened more than 1
percent to 1.888 per U.S. dollar.




Despite a third day of weakness, the real is trading near a
seven-year high on heavy foreign investment, high domestic
interest rates and strong exports.


Read more at Reuters.com Bonds News

CSN, Gol, MMX, Tam, Petrobras and Vale do Rio Doce: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index fell for the
second time in three days, led by state-controlled oil company
Petroleo Brasileiro SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange dropped 616.93, or 1.1 percent, to 57,419.84 as of 9:37
a.m. New York time.


Read more at Bloomberg Stocks News

Brazil Stocks Gain, Led by Vale do Rio Doce, CSN; Grupo Mexico Advances

(Bloomberg) -- Brazil's main stock index rose for the
second time in three days, led by steel and mining companies, on
speculation that diversification will boost their profits.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange added 379.38, or 0.7 percent, to 57,822.12 as of 1:11 p.m.
New York time. Cia. Vale do Rio Doce, the world's biggest iron-ore
producer, led the gains. Mexico's benchmark Bolsa index climbed
163.75, or 0.5 percent, to 32,086.37.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Norsk Hydro in new alumina plant deal with CVRD

(Reuters) - OSLO, July 23 - Norwegian aluminium group Norsk
Hydro said on Monday it will build an alumina refinery
in Brazil with iron ore miner CVRD to gain more
capacity for the key production input by 2011.




The plant will be developed in four stages, each of 1.85
million tonnes per year of alumina production capacity and with
a final output of 7.4 million tonnes per year, Norsk Hydro said.


Read more at Reuters.com Mergers News

Brazil's Real Declines From Seven-Year High as Risk Aversion Increases

(Bloomberg) -- Brazil's currency declined from a
seven-year high as an increase investor aversion to riskier
assets reduced the appeal of emerging market securities.

Stocks in the U.S. slumped and benchmark Treasuries gained
amid speculation rising subprime mortgage defaults will lead to
higher interest rates for private borrowers and curb economic
growth.


Read more at Bloomberg Currencies News

Brazil's Real Holds Near Seven-Year High Before Expected Central Bank Cut

(Bloomberg) -- Brazil's currency held near a seven-
year high before an expected rate cut by the central bank.

``Lower interest rates will support the real because it
will attract foreign capital to short-term fixed-income
assets,'' said Tony Volpon, an economist in Sao Paulo at CM
Capital Markets.


Read more at Bloomberg Currencies News

Coffee Rises in New York on Concern Scarce Rain in Brazil May Damage Crop

(Bloomberg) -- Coffee rose for the third straight
session in New York as a lack of rainfall in Brazil, the world's
largest producer, increased concerns the next crop may be damaged
during its flowering phase.

The country's major coffee-growing areas will be mostly dry
for the next two to three weeks, said Dale Mohler, meteorologist
with AccuWeather Inc. in State College, Pennsylvania. Minas
Gerais, the biggest growing state, has received only 20 percent
of its average rainfall this winter, Mohler said. The next crop
begins to flower when Brazil's spring starts in September.


Read more at Bloomberg Commodities News

Brazil Stocks Fall, Led by Tam and Gol, After Nation's Worst Air Disaster

(Bloomberg) -- Brazil's main stock index fell, led by
the country's biggest airlines, after a crash at the Sao Paulo's
city airport that killed as many as 200 people.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 511.60, or 0.9 percent, to 57,148.05 as of 9:33 a.m.
New York time.


Read more at Bloomberg Stocks News

UPDATE 1-FACTBOX-Brazil's deepening aviation crisis

(Reuters) - Rescue workers said as many as 200 people may have been
killed in the crash and fire that followed, including some
people on the ground. The Airbus A320 was operated by TAM
Linhas Aereas , Brazil's biggest airline.




Here are key facts about Brazil's deepening aviation crisis
over the past year.


Read more at Reuters.com Bonds News

Abyara, BR Malls, Porto Seguro, Petroleo Brasileiro: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for the
fourth time in five days, led by state-controlled oil company
Petroleo Brasileiro SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 272.66, or 0.5 percent, to 57,647.06 as of 9:42 a.m.
New York time.


Read more at Bloomberg Stocks News