Global Economy, Bric | featured news

Brazil's central bank lowers its forecast for economic growth to less than half of last year's, partly blaming the slowing global economy.

As his global teleconference broke up in disarray on September 11, 2001, a top economist at a U.S. investment bank began to ponder what the attacks on the United States might tell him about the future shape of the world.

Measuring the country’s economic development against that of China seems to be a national obsession in India, but the rivalry seems to be largely one-sided.

According to Brazil’s Ministry of Sports calculations, the FIFA World Cup in 2014 is going to be a cash cow for the country. The nation’s economy is forecast to grow by at least $70 billion as a result of its hosting the World Cup, the Brazilian Ministry of Sports said July 6 in a statement. The figure is based on the country’s investments in private and public investment in infrastructure, heightened consumption, increased activity in the services sector and, of course, tax collection.