Author: Gabriel Kawamura Pomerancblum

Tomorrow is the deadline for enrolling at the Cultural Exchange and Diffusion Programme of the Brazilian Ministry of Culture, which aims at providing financial coverage of transport expenses by artists, technicians and scholars invited to participate in cultural events abroad. Over 600 people have already benefited from this year by the project, which funded trips to more than 30 different destinations, including Morocco.

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From January until now, US$ 33.4 billion in foreign direct investment have entered the country, a much higher figure than initially estimated by the Central Bank and market analysts. Economists consulted by ANBA ascribe the performance to factors such as the worldwide increase in capital flow, the quest for emerging markets, the growth of the Brazilian economy, and the solidity of national companies.

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The Abu Dhabi Investment Authority (ADIA) has acquired 4.9% of the North American financial group, thus becoming its main individual shareholder, and surpassing the Saudi prince Alaweed bin Talal. The capital injection is going to help the company cover the losses that have occurred due to the United States mortgage crisis. Investors from the Gulf have already announced investments of US$ 70 billion in businesses worldwide this year.

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Jebel Ali Free Zone, in the United Arab Emirates, already houses offices and distribution centres for three Brazilian companies. Another three will be present by the end of the year. Companies in the ornamental stones, auto parts and dental equipment fields will start using the premises owned there by the Brazilian Export and Investment Promotion Agency, which were visited yesterday by the business mission currently in the Gulf.

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The mission promoted by the Arab Brazilian Chamber and the Brazilian Export and Investment Promotion Agency visited real estate developer Sorouh, in charge of large real estate enterprises in the emirate. The director at the company, Adnan Salhi, stated that it is open to materials from Brazil, as long as they have good quality and pricing.

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