Monday, 22 February 2010

Today's News Update: Petrobras may be most profitable oil company in world

On Petrobras’ financial results:

  • Petrobras may have scored the best worldwide financial results (in terms of profit) for any oil company.


On Renuka buying Equipav:

  • Renuka (Indian Company) has bought Equipav (a Brazilian sugar company) for $329m.


On Vale’s MOU for the Belo Monte hydroelectric plant :

  • Vale signed an MOU with Andrade Gutierrez, Neoenergia Investimentos and Votorantim Energia to participate in the bidding process of the Belo Monte hydroelectric plant.


On BOVESPA performance:

  • The Bovespa stock index fell the most in more than two weeks as concern that Greece will struggle to pay its debt dragged down most commodity producers, overshadowing a rally in the nation’s biggest oil company.


On Brazil Growth (by Goldman Sachs):

  • Goldman Sachs raised its forecast for Brazilian growth to 6.4 percent for 2010 from 5.8 percent previously. This forecast may be revised again, to as high at 7 percent.


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