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Luiz Inacio Lula da Silva

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Vale's former iron man sets sights on Africa

At the helm of Brazil's Vale for a decade, Roger Agnelli turned the conservative iron ore producer into a global heavyweight. Now, he is back in the game.The 53-year-old, ousted from Vale two years ago, is betting on the world's hunger for resources, Africa's potential and his team's ability to operate where others fear to tread."You have a lot of financial guys looking to invest, looking for opportunities," said the former banker, sitting back in the library of a smart central London hotel. "But guys who go into the middle of the forest, into the middle of the desert to implement a project, those are still scarce."Agnelli set up AGN Participacoes, a holding company, shortly after leaving Vale, to invest in biofuel. Last July, he teamed up with billionaire Andre Esteves' investment bank BTG Pactual to set up B&A Mineracao, a mining group focused on fertilizer, iron ore and copper, in Latin America and Africa.That $520 million venture - one of a handful of investment ventures set up by ...

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  1. Economic Slowdown Puts Brazil's Plans to Buy New Fighter Jets on Hold

    Brazil Defense Minister Celso Amorim said the economic slowdown has delayed a long-awaited decision to purchase a new generation of fighter jets."The project is not ...

  2. Relations With Africa Now 'Strategic' For Brazil - Minister

    Economic and political ties with African countries have become "strategic" for Brazil, Fernando Pimentel, the country's development, trade and industry minister said...

  3. Brazil's Petrobras Says It Won't Replace Financial Chief Barbassa

    Brazilian state-run energy company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, denied Thursday that it intends to replace Chief Financial Officer Almir Barbas...

  4. Brazil Energy Minister Indicates Petrobras Likely To Change CFO

    Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will likely replace the company's chief financial officer and international direc...

  5. Brazil's Petrobras To Dismiss Three Key Executives -Report

    Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will dismiss three key executives as new Chief Executive Maria das Gracas Foster ...

  6. Brazil Oil Field Shouldn't Have Been Explored - Official

    Rio de Janeiro's state environment secretary said Wednesday that U.S. oil major Chevron Corp. (CVX) shouldn't have developed its Frade offshore oil field because the...

  7. Analysis: Brazil's middle-class economic miracle at risk

    By Raymond ColittBRASILIA (Reuters) - They were the big winners in Brazil's economic boom: nearly 40 million people who joined the middle class since 2003 and went o...

  8. Lagarde kicks off IMF campaign in Brazil

    By Raymond ColittBRASILIA (Reuters) - French Finance Minister Christine Lagarde arrived in Brazil on Monday seeking to win support from one of the most influential e...

  9. Obama Gives Modest Backing for Brazil's U.N. Ambition

    U.S. President Barack Obama heralded Brazil's "extraordinary" rise on the world stage but stopped short of backing its bid for a permanent seat on the United Nations...

  10. Obama to Announce Framework Trade Deal in Visit to Brazil

    President Obama hopes to lay the groundwork for more trade with Brazil when he visits there this weekend, with announcements of a framework for negotiating future tr...

  11. China's Sinopec paying $7 bln for Repsol Brazil stake

    (Recasts with deepwater oil assets, adds quotes)By Sonya Dowsett and Chen AizhuMADRID/BEIJING (Reuters) - China's Sinopec Group said Friday it plans to buy 40 percen...

  12. PREVIEW-Brazil's Petrobras readies record share offering

    By Brian EllsworthRIO DE JANEIRO (Reuters) - Brazilian state oilgiant Petrobras will likely see strong demand for its $79billion share offer that prices late Thursda...

  1. Brazil Says No Risk of Power Rationing; Industry Members Urge Caution

    Brazil's government on Wednesday again brushed off the possibility of electricity rationing this year, and assured consumers there will be cuts in power prices. But ...

  2. Brazil Government, States Jockey in Fight Over Oil Wealth

    Brazil's non-oil-producing states fight to overturn presidential veto and broadly distribute oil royalties-Brazil's administration struggles to avoid rebellion among...

  3. A case study in Brazil's economic troubles

    A good example of why Brazil's economy is floundering can be found in a surprising place -- a seaside city in southern Scandinavia.Stavanger, Norway-based investment...

  4. Brazil Energy-Producing States Ramp Up Pressure in Debate Over Oil-Royalties Bill

    The city of Rio de Janeiro ground to a halt Monday afternoon as thousands of protesters marched through downtown demanding President Dilma Rousseff veto legislation ...

  5. Brazil Fights Over Oil Royalties as New Output Stays on Hold

    Brazil President Dilma Rousseff is wrestling over whether to approve controversial legislation that distributes royalties from oil production, a politically charged ...

  6. Analysis: Brazil's Vale's challenges go beyond iron ore

    Roger Agnelli, who was forced out as chief executive of Brazil's Vale in May 2011, may have been lucky to leave the world's second-largest mining company when he did...

  7. Brazil's Rousseff: Local Shipyards to Build More Oil Platforms, Rigs

    Brazilian shipyards will increase construction of oil platforms and drilling rigs to meet the needs of state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or...

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