Wednesday, May 19, 2010

Thursday news

Looking to invest in an island?
According to Exame's article, there are several islands for sale off the Brazilian coast. Ilha das Couves in the state of Sao Paulo is the biggest bargain of the bunch, starting at only R$12 million (US$ 6.5 million). According to the sales literature, it's a "true paradise with no big storms, snakes or large mosquitos."  Meanwhile, the most expensive Brazilian island, located in the state of Bahia, goes for a cool R$ 41 million (US$ 22.3 million).

8.5% growth?
Businessweek is reporting that Itau Bank may raise it's growth forecast for Brazil to 8.5% this year. That's approaching Chinese levels! Economists are notoriously famous for missing the mark on economic predictions, but Brazil's economy has been on fire this year. "Citing the growth of employment, expanding retail sales and bank lending as signs that the economy may grow faster than now expected, economist Guilherme da Nobrega said that 'the theme in Brazil is really the risk of overheating.'”

Chic Shopping Mall
To take advantage of increased consumer spending, yet another high-class shopping mall should be completed by 2011 in the Vila Olimpia region of Sao Paulo. Just two years after the opening of the luxurious Shopping Cidade Jardim, located on the other side of the Pinheiros river, JK Iguatemi will try and top it. In a joint development between W Torre and Grupo Jereissati, the 4 level shopping mall plans to attract the world's best luxury brands with over 200 stores (including a 3000 sq. meter Daslu), an international top-of-the-line hotel, and 20,000 expected daily visitors. Some of the expected luxury brands include Louis Vuitton, Prada, and Bottega Veneta.

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