InfoAnda - Brazil tax cuts, credits throw lifeline to industry |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Kabul attack kills two as Afghan civilian casualites rise | 11 August 2010
Sipping, not guzzling, fuel on Afghanistan's frontlines | | 10 May 2012
Setbacks loom for Merkel's party in election warm-up | 31 August 2009

EU auto sector drives into protectionism row | 21 February 2009

Forum Views () Forum Replies ()

Read more with google mobile : Brazil tax cuts, credits throw lifeline to industry |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Full Focus Editor's choice Our best photos from the last 24 hours. Full Article Images of March Follow Reuters Facebook Twitter RSS YouTube Read Obama takes a shot at Supreme Court over healthcare | 02 Apr 2012 Tornadoes rip through Dallas area, planes grounded | 5:32pm EDT Trayvon Martin: Before the world heard the cries 2:38pm EDT Government site back up after it crashes with 1940 census data 12:04pm EDT France best, U.S. worst in preventable death ranking 08 Jan 2008 Discussed 770 Obama confident Supreme Court will uphold healthcare law 191 Supreme Court weighs all-or-nothing on healthcare law 179 As Paul’s White House campaign fades, supporters face choices Watched High hopes for Dutch car plane Mon, Apr 2 2012 Traditional Chinese medicine gets 21st century makeover Mon, Apr 2 2012 A new Titanic rises in Belfast Fri, Mar 30 2012 Brazil tax cuts, credits throw lifeline to industry Tweet Share this Email Print Related News Insight: Invigorated Rousseff shifts focus to 'Brazil cost' Mon, Apr 2 2012 UPDATE 3-Brazil manufacturing expands for 3rd month -PMI Mon, Apr 2 2012 Analysis: Brazil commodity exporters under friendly fire in "currency war" Fri, Mar 30 2012 UPDATE 3-Brazil sees 2012 inflation easing, up in 2013 Thu, Mar 29 2012 Exclusive: Brazil to rally BRICS against rich countries Wed, Mar 28 2012 Analysis & Opinion Essential tax and accounting reading:Swiss-German tax tensions, India’s retroactive taxes, who gets audited, the “most fraudulent budget in American history,” and more Press Round-up – April 2 Related Topics World » Brazil » Brazil's President Dilma Rousseff (L) and Brazil's Vice President Michel Temer participate in a ceremony of announcement for new measures of the Plan ''Brasil Maior'' and the installation of Sector Councils for competitiveness in Brazil April 3, 2012. Credit: Reuters/Ueslei Marcelino By Alonso Soto and Luciana Otoni BRASILIA | Tue Apr 3, 2012 3:14pm EDT BRASILIA (Reuters) - Brazil's government unveiled a new package of tax cuts, low-cost credits and other relief for ailing industries on Tuesday, seeking to resurrect a once-booming economy struggling to regain momentum. In a speech to business leaders in the capital, Brasilia, President Dilma Rousseff said the measures are necessary to revive Latin America's biggest economy and help Brazil defend itself against what she called "predatory competition" from low-cost rivals in the global marketplace. The measures were announced the same day that fresh data showed signs of life in Brazilian industry after a prolonged slump. Analysts, though, cautioned that the latest policies fail to tackle the overall tax burdens, heavy bureaucracy and lack of investment that have long held back Brazil. Since the global slowdown brought Brazil's economy to a near-standstill late last year, policymakers have been taking incremental steps to revive it. But after five consecutive interest-rate cuts, a rise in import taxes on cars, and a series of measures designed to curb the appreciation of Brazil's currency, a recovery is far from clear. Critics in recent months have blasted the Rousseff administration for policies increasingly seen as protectionist. But Rousseff on Tuesday put the blame at the feet of developed countries, where the financial crisis originated, and big exporters like China and the United States, whose currencies she has long argued remain artificially weak and unfairly competitive against the Brazilian real. "We will not hesitate," she said, "to do what we must to defend our jobs, our industry and our growth." The government said it will cut payroll taxes to spur hiring in sectors as varied as textiles and plastics to the automotive industry. Together, the tax cuts represent about 10 billion reais ($5.5 billion) annually in forgone public revenue, part of which the government will seek to recover with tax increases on products such as alcohol and tobacco. The government will also stimulate domestic industry through government purchases and inject 45 billion reais ($24.6 billion) into the coffers of state development bank BNDES, which provides subsidized loans for Brazilian companies and is the main source of long-term financing in Brazil, especially for much-needed infrastructure projects. FOREX MEASURES IN THE PIPELINE The moves are the second such stimulus package for ailing Brazilian industries since the country's previously red-hot economy began to cool in mid-2011, hit by fallout from Europe's sovereign debt crisis and slower growth in China, Brazil's biggest trade partner. Finance Minister Guido Mantega, who unveiled the measures before Rousseff and other government officials, said Brazil would also continue to enforce recent measures aimed at preventing the real from strengthening further. While the moves to raise taxes on certain financial transactions and speculative capital have curtailed the currency's rally in recent months, the real is still about 30 percent stronger than at the depths of the 2008 financial crisis. The currency firmed after Mantega's comments, in which he said the recent retreat by the currency had put the real back at a "reasonable" level. The real gained 0.3 percent on Tuesday trade to 1.8250 to the dollar. After growth of 7.5 percent in 2010, Brazil's economy nearly screeched to a halt late last year, posting a full-year gain of just 2.7 percent - far less than originally predicted. The government hopes the new measures will help it reach its projection for growth of as much as 4.5 percent in 2012. Though welcomed by Brazilian industry as helpful, the package was criticized by economists and business leaders as falling far short of the true reforms necessary to help unburden Brazil's economy from high taxes and red tape. "This doesn't solve the problem," said Mauricio Rosal, chief economist at Raymond James in Sao Paulo. Long-term, he added, "this does nothing to address the problems of competitiveness." Fernando Marques, owner of a local pharmaceutical company, União Química, urged the government to do more. "The government still needs to tackle the real problems hurting industry," he said. "We need tax reform." Long-pending tax, judicial and pension reforms are among the many big overhauls economists say Brazil needs to free up investment and make the economy more efficient. In a study released Tuesday, Fitch Ratings said the country remains more attractive to investment than it did in decades past but that further progress remains elusive without "a reduction in cost of doing business." INDUSTRY RECOVERY NOT CLOSE Government figures on Tuesday showed that industrial output in February recovered most of its lost ground from a sharp drop in January, when Brazil's overvalued currency and economic ills abroad continued to erode the competitiveness of manufacturers. Industrial production rose a better-than-expected 1.3 percent in February, the best monthly growth rate in a year. In January, industrial output contracted a revised 1.5 percent, less than a previous estimate of a 2.1 percent decline. Despite the snap back in February, analysts cautioned it is too early to say that a genuine recovery is underway. A weak industrial sector was one of the main culprits for disappointing economic growth in 2011. "We can't say industry is recovering.," said Thiago Carlos, an economist at Link Investimentos in Sao Paulo. "It's still weak and it keeps suffering from problems of competitiveness, and there is no real improvement on the horizon." (Additional reporting by Tiago Pariz, Ana Flor and Jeferson Ribeiro; Writing by Paulo Prada; Editing by Todd Benson and Padraic Cassidy) World Brazil Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Wednesday, 4 April 2012
Mali junta defies deadline for handing over power |
UK snooping row casts doubt on Cameron leadership |
Russia says kills five Islamists in Caucasus |
First Marines in Australia under new security deal |
U.S. puts bounty on Pakistani suspect in Mumbai attacks |
Brazil tax cuts, credits throw lifeline to industry |
Peru leader sends brother to solitary confinement |
Czech government shudders as party threatens to quit |
Netanyahu says sanctions hurting Iran but not enough |
Facebook launches patent counterattack against Yahoo |
SanDisk cuts first quarter revenue outlook, shares fall |
Analysis: GameStop sees solid future despite video game shift to digital |
Palin pans Julianne Moore in Game Change film |
All-American Rejects come of age in Kids In The Street |
Mario Van Peebles and family are We the Party |
Analysis: Success of Annan peace plan for Syria hinges on Russia |
French police swoop on more suspected Islamists |
Japan, Britain set to agree on joint development of arms: paper |
U.S., Afghanistan near deal on night raids: official |
First Marines in Australia as U.S. ramps up Asia-Pacific focus |
Czech government in danger over coalition row |
Former Turkish president on trial for 1980 coup |
Addicts embody cocaine boom in Brazil's cracklands |
Iraq says Iran proposes Baghdad as nuclear talks venue |
China keen on free trade pact with U.S.: Greenberg |
Toshiba to build new NAND chip plant: media |
Madonna keeps pop crown, MDNA tops Billboard chart |
Four contestants sing for final time on 'The Voice' |
A last dance for Jack Wagner on Dancing With the Stars |
Olbermann says screwed up with move to Current |
Beatles offspring could form next generation band |
Trump overrules rejection of transgender beauty queen |
Analysis: Syria peace plan seen buying Assad time |
U.N. ceasefire mission fails to curb Syria violence |
Russia accuses U.S. envoy of arrogance over missile shield comment |
Tunis reopens ancient Islamic college to counter radicals |
Italy's PM Monti concedes to unions, ally on labor |
Warring militias in west Libya vow no let-up in fight |
Housemaid's suicide rattles Lebanon's conscience |
Analysis: Mali's north feared new rogue state in Sahara |
Islamist rebels bomb Somali theatre, killing 6 |
Yahoo to lay off 2,000 employees |
Online startup seeks to rival the Ivy League |
YouTube to offer Paramount movie rentals |
Publisher-backed venture starts digital newsstand |
Thailand bans film based on Macbeth, fearing disunity |
Katy Perry 3-D concert movie to be released in July |
Taboo-breaking Saudi films spur debate in staid kingdom |
George Michael pens song about battle with illness |
UK protest punk band The King Blues announces split |
Amnesty urges Russia to free punks after protest |
A Minute With: Fred Savage and best friends forever |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01