Word: rio
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Dates: during 1950-1959
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...BRASS Rio de Janeiro...
...political earthquake that shook Brazil a fortnight ago (TIME. April 18) subsided last week. The process of reshuffling the Cabinet continued, but President Joâo Café Filho calmly went ahead with his plans to fly from Rio this week on a nine-day trip to Portugal, the Brazilian motherland. One reason he could be calm was that the 36th International Eucharistic Congress is scheduled to convene in Rio in July. With 1,000,000 Roman Catholic visitors expected, leaders of all factions want to keep up a hospitable appearance of normality. In the Cabinet comings and goings...
...inter-American economic conference in Rio last year, Treasury Secretary George Humphrey promised the free nations of the world that the Eisenhower Administration would back the idea of a sort of international RFC to lend to private enterprise abroad (TIME. Nov. 22). Last week the U.S. made good its promise. World Bank President Eugene Black proposed that an International Finance Corp. be chartered with $100 million in capital, membership of the 56 nations "that belong to the World Bank. Principal customers will be businessmen in underdeveloped countries who need capital but object to the meddling that comes with government-guaranteed...
Died. Arthur da Silva Bernardes, 70, onetime (1922-26) President of Brazil and indefatigable opponent of foreign-capital operations in Brazil; of a heart attack; in Rio de Janeiro. Outspoken, scrupulously honest Politico Bernardes was exiled and later pardoned by President Getulio Vargas for his part in the unsuccessful São Paulo revolt in 1932, in later years was widely hailed as the elder statesman of Brazilian nationalism and as a major influence behind the 1953 petroleum bill, which closed Brazil's oil resources to foreign companies...
...from the jungle interior. Near the spot where the Madeira River flows into the Amazon, oil hunters brought in a high-grade gusher, the first oil ever found in Brazil outside the coastal state of Bahia. The oil spurted 150 feet, and made Brazilians gush just as effusively. Said Rio's Correio da Manhá: "Glad tidings! The greatest hope for Brazil's recovery...