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Showing posts with label MARKET. Show all posts
Showing posts with label MARKET. Show all posts

Saturday, September 24, 2011

IF IT AINT BROKE DON'T FIX IT


Investigation Targets Rio’s Uruguaiana Market

By Zoë Roller, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Rua Uruguaiana in Centro is known to Cariocas and savvy tourists as one of Rio’s best bargain shopping destinations. The popular market, a labyrinth of tiny stalls selling electronics, clothing, and media, has recently become a target of investigation into militia extortion, counterfeiting and even illegal immigration.
Popular market Uruguaiana, Rio de Janeiro, Brazil, News
Popular market Uruguaiana, photo by Salvador Scofano/Imprensa RJ.
It was created in 1994 to provide street vendors in Centro with more formal commercial spaces. Vendors at Uruguaiana often come into conflict with the Prefeitura and the police over the legality of their merchandise and legitimacy of their businesses.
On September 16th, the Municipal Guard’s intelligence sector launched an investigation of a militia operating in Uruguaiana. The group allegedly helps unlicensed foreign vendors avoid arrest, guarantees space in the market, and distributes merchandise.
The investigation will gather information on which vendors are foreign, where they sleep, and where they get their products. Results will be released in a month. Secretary of Public Order (Seop) Alex Costa said, “We know there is a militia-type group that protects vendors. But we still don’t know who these people are, or whether they’re working with the police.”
The investigation was also prompted by a confrontation between the Municipal Guard and street vendors in Uruguaiana on September 3rd, in which several people were wounded. Bystanders say the vendors were provoked by the police officers’ overly combative attitude. Colonel Lima Castro, commander of the Guard, says one offending officer was removed from the unit for “losing control of his emotions.”
Costa also proposed a joint operation of the Civil and Federal Police to combat illegal immigration and the selling of counterfeit and contraband goods, although the connection between the offenses is largely circumstantial.
Suspicions were raised when large numbers of foreigners selling similar goods were noticed during a survey of the area for the Shock of Order (Choque de Ordem) program. According to Seop, the majority of foreign vendors in Uruguaiana are Peruvian and Ecuadorian, but it is unclear what percentage of this group are in the country illegally or involved in illegal activities.
Confiscating goods in Uruguaiana, Rio de Janeiro, Brazil, News
Confiscating goods in Uruguaiana, photo by Salvador Scofano/Imprensa RJ.
“There are crimes like contraband goods and piracy, as well as illegal immigration. There could be a larger pattern,” said Costa. “They’re foreigners. How did they get to Rio?”
On the first day of the militia investigation, police arrested nine Ecuadorians for selling counterfeit goods in Uruguaiana. They said that they came to Brazil legally, looking for work, and denied any involvement with a militia.
The group sold shirts for R$10 that they bought for R$8 from another vendor in Uruguaiana. The Ecuadorians were charged with trademark violation and if convicted, they could receive up to two years in prison.
Counterfeit goods are a widespread problem in Rio. In the past few months the Delegation for the Repression of Immaterial Property Crimes (Delegacia de Repressão aos Crimes contra Propriedade Imaterial, or DRCPIM) has arrested Chinese vendors selling medications and jewelry in Vila Isabel, and Ecuadorians selling shirts in Jacarepaguá. Copacabana and Largo do Machado are also hotbeds of piracy.
Valéria Aragão, a delegate of DRCPIM, said “The authorities will not tolerate pirated goods in a space as big as Uruguaiana.” However, attempts to drive out illegal commerce will face serious challenges as long as the informal sector offers attractive employment opportunities. According to Aragão, the pirate goods market employs two million people in Brazil, and is worth twice as much as the drug trade worldwide.
Uruguaiana poses a considerable obstacle to Shock of Order, the zero-tolerance public order program that was installed in Centro two weeks ago. Costa decided to not include the market in the initial area, because informal commerce is so entrenched there, stating that it will not receive a UOP for at least six months.
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Tuesday, September 13, 2011

GOING, GOING ,GOING

Issue CXXX - Weekly Edition: September 7 - September 13, 2011
Dollar Climbs to R$1.70 Against the Real: Daily
September 13, 2011 | Filed underDaily Update | Posted by Contributing Reporter
By Brennan Stark, Contributing Reporter

RIO DE JANEIRO, BRAZIL – The U.S. dollar rose 1.78 percent against the Brazilian real according to Monday’s closing figures. The rise effectively leaves the dollar worth just over R$1.70, its highest level since December 2010, but still well below its five year high of R$2.50 in December 2008.


The dollar climbs to highest value against the real since December 2010, image by Yahoo Finance.
Although the U.S. economy continues to struggle, economic crises in Greece and Italy have diverted some to pull funds and investments and direct them at the less risky U.S. market.

“Everyone is very afraid of a Greek default,” Andre de Carvalho Ferreira, director of Nova Futura DTVM Ltda., a brokerage firm in Sao Paulo said in an interview with Bloomberg. “You never know what’s going to happen. There’s no upside to hold the real. There’s more to go.”

The last eight consecutive reports have indicated that the dollar has strengthened and, according to Abucater dos Santos, manager of foreign exchange at brokerage company ICAP Brasil, the dollar’s trend could continue to rise until it reached R$1.80.

One possible reason, dos Santos suggests, was early September’s cut in the basic interest rate in Brazil from 12.5 to twelve percent per year.