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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (7362)	9/2/1998 1:13:00 PM
From: md1derful	Read Replies (1) \| Respond to of 22640

SF: I agree, worrisome sell off amid the market glee..no clue..I wonder if this is a reaction to the government's propping up of the stock which apparently occurred over the past few days...we may also be setting up for a nice 2 o'clock rally...haven't had one in a while!!

To: Steve Fancy who wrote (7362)	9/2/1998 2:14:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Santos port speeds coffee, cargo loading Reuters, Wednesday, September 02, 1998 at 13:54 SAO PAULO, Sept 2 (Reuters) - Shipping operations at Brazil's key port of Santos gathered momentum on Wednesday as exporters shook off delays caused by a series of union strikes and work-slowdowns in August. Officials at the Santos port authority (CODESP) said shipping agents had trimmed their container backlog to just 2,965 containers by Wednesday from roughly 10,000 on Friday. "Things here are definitely getting better," a CODESP spokeswoman said. "But we will need at least five more days like this to get things back to normal." But worker unrest may rear its head again next week, shipping agents warn. Customs employees, who crippled Santos for nearly two weeks with strikes and go-slows, may again decide to work-to-rule next week over an ongoing pay dispute. A customs union spokesman said a meeting had been tentatively slated for Friday to discuss future industrial action. "It really depends on what we get accomplished this week," the spokesman said, referring to salary negotiations with federal authorities. Coffee shipments, which had been severely hampered by August's worker unrest, were also picking up speed, according to the Commercial Association of Santos. Renaldo Braga, the Association's administrator, said although data was still being compiled, some 300,000 bags meant to be shipped in August would soon be cleared out of Santos port. He said a total of 716,266 bags had been shipped by August 31 out of Santos, which is Latin America's busiest port and accounts for roughly 70 percent of Brazil's coffee exports. The Brazilian Federation of Coffee Exporters (Febec) said on Tuesday Brazil's total August exports should reach between 1.5 and 1.7 million 60-kg bags. Febec's figure compares with an export figure of 1.07 million bags shipped out of all of Brazil's ports by August 31, according to the Commercial Association of Santos. Braga said the Association had expected total exports of 1.6 million bags. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (7362)	9/2/1998 2:18:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil To Use 60% Of Telebras Proceeds For Budget-Report Dow Jones Newswires BRASILIA -- Contrary to previously announced policy, the Brazilian government has included 60% of the privatization sale proceeds of Telecomunicacoes Brasileiras SA, known as Telebras, in its 1999 budget proposal to finance expenses and investments, the Estado de S. Paulo newspaper reported Wednesday. A spokeswoman at the Budget and Planning Ministry on Wednesday confirmed the budget proposal on the use of Telebras proceeds, but said officials weren't immediately available for comment. Details of the proposal, handed to Congress last Monday, show that only 40% of the Telebras proceeds will be used to pay off debt. At the same time, government officials had said earlier that the Telebras money would be used in its entirety to pay off debts. Telebras was sold on July 29 for a total of 22 billion reals (BRL) ($1=BRL1.17). The injection of the Telebras proceeds allowed the government to project an improvement in its public accounts or 1999, forecasting a primary surplus of BRL8.7 billion for next year in its budget proposal. Brazil's public sector is currently running a 12-months nominal deficit equal to 7% of GDP. -By William Vanvolsem; (5561) 244 3095;wvanvolsem@ap.org Briefing Book for: E.TCB \| TBR

To: Steve Fancy who wrote (7362)	9/2/1998 2:21:00 PM
From: Steve Fancy	Respond to of 22640

Copom expected to reduce interest rate to 19 per cent Sao Paulo, 2 - The Central Bank Economic Policy Committee (Copom) will hold a meeting late this afternoon to define the basic interest rate (TBC) to be in effect up until October 7. The TBC is expected to fall to 19% from the current 19.75% a year, despite the ongoing international crisis. Actually, the BC has already been charging that rate for one-day operations with banks. TBC reductions always help improve the public deficit. According to BC director for International Affairs, Dem¢sthenes de Madureira Pinho Neto, the deficit declines 1% whenever interest rates fall four percentage points. However, consumers should not be benefited by a lower TBC. The reason is that the money cost at financial institutions, which have been more cautious in face of the crisis, has increased. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Jornal do Brasil. Edited by Sergio Cardoso)

To: Steve Fancy who wrote (7362)	9/2/1998 2:23:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Cardoso releases US$15m to fight fire - rpt Bras¡lia, 2 - After meeting with Environment minister, Gustavo Krause, and Federal Environment Institute Ibama president, Eduardo Martins, president Fernando Henrique Cardoso announced yesterday the release of US$15m in order to fight against fire ravaging Brazil's midwestern region, in anticipation of the World Bank's loan aimed at combating fire occurrences in Brazilian woods. According to the Planalto Palace spokesman, Ambassador S‚rgio Amaral, the conclusion is that the fire has not as yet reached Xingu National Park, one of Brazil's best preserved Indian reserves. Ibama's president added that Indians were not running any risks. However, he admitted he is worried with the proximity of the fire, only 4 km far from the reserve. (By Tƒnia Monteiro)

To: Steve Fancy who wrote (7362)	9/2/1998 2:24:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Budget proposal ignores crisis effects - rpt Sao Paulo, 2 - The Union's General Budget proposal for 1999 the government submitted on Monday to Congress estimates GDP growth of 4% for next year. The projection, which ignores the financial crisis possible effects on Brazil's economy, represents double that for this year: 2%. The budget project also estimates interest rates will remain at the current level (20.8% a year) and that inflation will stand at 3.85%. The proposal also estimates a federal primary surplus (revenues minus non-financial expenses) of R$8.7bn for 1999, or 0.87% of GDP. According to the Planalto Palace spokesman, Ambassador S‚rgio Amaral, President Fernando Henrique Cardoso was "satisfied" with the proposal. "The budget improves the government's accounts under the primary concept and preserves at the same time social projects, which will have resources guaranteed", Cardoso evaluated. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Gazeta Mercantil. Edited by Sergio Caldas)