Brazil what's cool right now
FROM OUR BLOG Nov 16: Foreign investment continues; job creation grows
Every week Keith Punler, CEO of Kapital International, digests what investors are saying in Brazil right now.
The last few months have seen announcements of fresh foreign investments in Brazil and November has been no exception. Canadian third-largest bank, the Nova Scotia last week announced it intends to acquire niche investment-banking businesses in Brazil, particularly in the areas of mining, energy and infrastructure.
Meanwhile, the international bidding war for a slice of Brazil’s broadband business continued. Both Spanish Telefonica and French Vivendi were fighting over broadband operator GVT’s shares, but it was the French who snapped near 20% of this company in the end. Brazil has one of the most avid internet users in the world – no wonder international players are wanting to own a slice of this business.
This has been a good year for Brazilian workers: according to the government, job creation was up in October, the ninth month of consecutive growth for 2009.
On the showbiz front, Madonna keeps grabbing the headlines – she flew into Rio and raised R$ 20million (around GBP 7 million) to help the favelas’ poorest, promising to build a new school in the Dona Marta community.