Brazil's software sector should rise its exports from US$ 100 million to US$ 500 million and job creation should grow 20% with the measures announced by the Brazilian federal government as part of the policy for the software industry.

Brazil's federal government is going to nearly triple the funds for its Export Financing Program (Proex) in 2008. Instead of the forecasted 500 million reais (US$ 298.6 million), the credit line of the Brazilian Development Bank (BNDES) is going to count on 1.3 billion reais (US$ 776.4 million).

Almir Barbassa. the Financial director of state-controlled Brazilian oil multinational Petrobras, informed that investment at the oil company this year should total from US$ 54 billion to US$ 55 billion, a volume approximately 20% greater than the US$ 45 billion invested last year.

Brazil's minister of Agriculture, Livestock and Supply, Reinhold Stephanes, claims that the Arab countries are a great market for national agribusiness. However, he defends that partnerships with the region should be developed as well. One such partnership would aim at importing fertilizers and pesticides, which some Arab countries manufacture.

Opportunities for exports of services from Brazil to the United Arab Emirates were among the main topics discussed this Monday, May 12, in the "Brazil-United Arab Emirates Bilateral Foreign Trade and Investment Seminar", promoted at the offices of National Trade Confederation (CNC), in Rio de Janeiro.

The first day of qualifications for 92nd running of the Indianapolis 500 failed to stand up to the 2007 tension filled Brazilian duel in which Hélio Castroneves grabbed the provisional pole on the next to last run of the day and Tony Kanaan barely missed edging him out on the final run. But Brazilian muscle in 2008 remained evident.

Brazil wants to attract attention at Beautyworld Middle East, a beauty, cosmetics and perfumery sector fair to take place from May 18 to 20 in Dubai, in the United Arab Emirates. In this year's edition, in addition to the presence of 15 national companies as exhibitors, a Brazilian-style lounge will be organized as well.

Foreign direct investment (FDI) in Latin America and the Caribbean was record last year, reaching almost US$ 106 billion, according to figures disclosed by the Economic Commission for Latin America and the Caribbean (Eclac), an organization connected to the United Nations (UN).

Portuguese energy sector company Energias de Portugal (EDP), is discussing with the Algerian Sonatrach and with Brazilian partners the possibility of building liquefied natural gas terminals in Brazil to develop combined cycle centers, said the Portuguese company's chairman.

Brazil, this year, is expecting its second largest coffee crop in the last ten years, totaling 45.5 million 60-kilogram bags. The estimate was disclosed last week by the Brazilian National Food Supply Company (Conab) in its second coffee crop survey for 2008. The volume represents growth of 35% in comparison with the previous crop.

Bank ABC Brazil, controlled by the Arab Banking Corporation, headquartered in Bahrain, posted net profit of 38 million reais (US$ 22.4 million) in the first quarter this year, growth of 106.4% in comparison with the same period of 2007, according to a quarterly report disclosed by the institution.

The Consumer Prices Index in Brazil experienced its biggest increase in four months in April, 0.55% (up from March's 0.48%) because of higher food costs, according to the Brazilian Institute of Geography and Statistics (IBGE).

Sugarcane and cane-based ethanol became a more important energy source than hydroelectric power in Brazil's overall energy production last year, topped only by petroleum and oil products according to a report from the government's energy planning agency, EPE.

Celso Amorim, the Brazilian Foreign minister said that South America would never accept "separatism in Bolivia" and underlined that any autonomy must be negotiated with La Paz, according to Rio's daily O Globo.

Brazil's aircraft maker Embraer posted growth of 32% in net revenues in the first quarter this year, compared with the same period last year. It totaled 2.3 billion reais (US$ 1.3 billion) whereas between January and March 2007 it was 1.7 billion reais (US$ 1 billion).