Arteris SA Chief Executive Officer David Diaz said Brazil’s road auction plans, part of President Dilma Rousseff’s $98 billion effort to spur growth, are flawed because traffic estimates are too high and cost projections low.
The Federal Reserve’s surprise decision to refrain from scaling back monetary stimulus provided a respite to investors in emerging markets, where currencies are in the midst of their worst rout in two years.
Eike Batista’s OSX Brasil SA is falling like never before in the bond market, and the prospect of a legal dispute over $800 million of collateral is a signal to Citigroup Inc. and Galloway Capital Management LLC that the worst is yet to come.
The Federal Reserve’s decision to postpone its rollback of U.S. stimulus offered Asian policy makers extra time to address domestic economic fragilities as the region copes with diminished capital inflows.
Brazil is considering offering higher returns to persuade investors to build $93 billion of infrastructure after one of its top road projects failed to attract any bidders, an official involved in the talks said.
Luciano Coutinho, president of the state development bank BNDES, said Brazil has benefited from the recent weakening of its currency and a further drop would be better, according to newspaper Folha de S.Paulo.