Brazil: The Rise of a Natural Resources Superpower
The global spotlight has found Brazil, host of a major U.N. sustainability summit this year, the World Cup in 2014 and the Olympics in 2016. This Bloomberg.com Special Report explores both the triumphs and the challenges of Brazil's rapid rise to economic and geopolitical prominence.
In 2007, Brazilian geologists made the biggest oil find in the Americas in three decades. Buried more than five miles below sea-level, the discovery was estimated to raise the country’s crude reserves by 62 percent.
Diogo Ribeiro da Luz, visiting a missionary friend in the heart of the Amazon three years ago, stepped into a banana-leaf tent to be greeted by a tribesman covered in red body paint asking if he wanted a cup of coffee.
As world political and business leaders ready for the Rio+20 U.N. sustainability conference in June, Brazil’s leaders are debating policy changes that could jeopardize the leadership it has earned from reducing Amazon deforestation and greenhouse gas emissions.
From the sparkling, emerald-green waters of the Atlantic off the east coast of Brazil, Cavala Island looks like a tropical paradise of lush vegetation framed by giant rocks. It’s also where millionaire Antonio Claudio Resende, a founder of Latin America’s largest car-rental company, became a squatter.
Petrobras is battling the twin challenge of extracting billions of barrels of oil trapped under the seabed while starting from scratch a shipbuilding industry intended to create jobs and reduce the company’s dependence on foreign suppliers.
Central to sustainability is a deceptively hard question: Where does stuff come from? Global companies are spending enormous time and effort learning to answer this question with precision. An enormous amount of this stuff -- raw materials and food -- comes from Brazil, the focus of this Special Report.
The head of Brazil’s soccer federation resigned today two years before the South American country hosts the World Cup, putting an end to a 23-year career marked by an unmatched championship record and accusations of corruption off the field.
Brazil’s economy last year registered its second-worst performance since 2003 as higher borrowing costs and a currency that rallied to a 12-year high led it to underperform emerging-market peers China and India.
Iron ore, the world’s second-biggest commodity cargo after crude oil, is extending a bull market after rallying 22 percent from a 22-month low in October as the slowest expansion in exports in 11 years restricts supplies.
Eike Batista is $3.2 billion closer to his target of becoming the world’s richest man after warning Mexican billionaire Carlos Slim that he planned to overtake him. At this rate, he’s unlikely to take the top spot before 2024.
Investors in the biggest state- controlled companies are being punished with the lowest valuations in six years by emerging-market leaders putting public services ahead of shareholder profits as economies slow.
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