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From the Absolut Brazil team

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News - Brazil IPOs May Resume in 2009, Itau’s Nishikawa Says

5 year Bovespa: Bovespa is due to recover in 2009

Dec. 23 (Bloomberg) - Brazilian companies may resume initial public offerings during the second half of 2009 as investors look for attractive investments, Itau Corretora Chief Executive Officer Roberto Nishikawa said.

“There are many companies interested, but the market isn’t prepared yet,” Nishikawa said in a Bloomberg Television interview in Sao Paulo. “If the market opens up again, you have a big opportunity for companies to enter the market through IPOs.”

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News - Sarkozy backs Brazil permanent UN seat

UN: Give Brazil a permanent seat!

RIO DE JANEIRO, Brazil: French President Nicolas Sarkozy said Monday that Brazil should have a greater role in international affairs, including a permanent seat in the United Nations Security Council.

Sarkozy, on the first day of a visit expected to include an arms deal with Latin America’s largest nation, praised Brazilian President Luiz Inacio Lula da Silva for promoting global environmental awareness.

“We need President Lula as a permanent member in the Security Council and we need him to lead the issue of the preservation of the environment,” Sarkozy said at the beginning of a Brazil-European Union summit.

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Delta Airlines’ Fortaleza-Atlanta flights started today  

Today have arrived in Fortaleza the first passengers travelling from Atlanta in the Delta Airlines Fortaleza-Atlanta airline. The new flight is one of the most recent and important conquers for Ceará’s tourism and economy.

The route will use a 757-200 ER aircraft and will have four weekly frequencies - Mondays, Wednesdays, Fridays and Saturdays. The flight has an estimated time of 9 hours and can carry 170 passangers, 15 of which in executive class.

As discussed here and here, this flight is important to the state’s tourism strategy which aims at promoting an improvement in tourist qualification, abandoning the charter flights model to favour regular flights with international tourist who are more serious and more qualified.

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News - Brazil revises 2008 growth upward

BRASILIA, Brazil (AP) - Brazil’s Central Bank says economic growth this year should be faster than expected - adjusting its estimate of GDP growth to 5.6 percent from 5 percent.

But the bank says the global financial crisis should hold next year’s rise in gross domestic product to 3.2 percent. That’s down from the 4 percent growth expected by President Luiz Inacio Lula da Silva for 2009.

Independent economists have predicted Brazil will end 2008 with growth of about 5.2 percent.

The central bank also said Monday that inflation should reach 6.2 percent this year, but only 4.7 in 2009, due partly to recently increased interest raises.

Source: Associated Press.

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