Word: brazil
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Dates: during 1950-1959
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...Sears, Roebuck bought a site in Lima for its first retail store in Peru, its 25th in Latin America. Sears stores are already doing well ($75 million gross last year) in Mexico, Cuba, Venezuela, Brazil and Colombia...
...Coffee futures rose to their highest level (64? a Ib. for July delivery) in the 71-year history of the New York Coffee & Sugar Exchange. Led by giant Brazil, the 14 Latin American coffee republics may collect a record $1.35 billion for the crop marketed...
...Brazil cleared up the last of its $425 million U.S. commercial-debt backlog as Finance Minister Oswaldo Aranha's policy of ruthlessly cutting imports-powerfully aided by the coffee boom and a $300 million U.S. Export-Import Bank loan-began to pay off fast. Aranha also struck a deal to settle Brazil's ?54 million arrears to Britain. Terms: ?10 million to be paid at once, the balance in annual payments of at least ?6 million...
...first seamless steel tubing ever manufactured in Latin America rolled from a brand-new $20 million plant built just outside São Paulo by Brazil's seven fast-rising millionaire Jafet brothers (TIME, Jan. 26, 1953). When the plant is running at top capacity, its output should save Brazil from $20 to $25 million annually in dollar exchange...
President Getulio Vargas, in a sharp outburst of nationalism last week, denounced Brazil's foreign-owned utility companies for not providing enough cheap electric power to carry out the country's industrial development. By plain implication, he threatened them with expropriation unless they backed his grandiose plan for electrifying the whole vast country under government direction...