Zurich - UBS announced Monday it had agreed to sell its Brazilian financial services business, UBS Pactual, for approximately 2.5 billion dollars to BTG Investments, in an attempt to raise capital.
In a statement the Swiss bank said the sale, which would result in a "small loss," was part of a strategy to reduce its risk profile and improve its balance sheet.
Also, the sale will strengthen by 1.3 billion dollars its Tier 1 capital, which had been slipping in recent months, UBS said. The tier 1 capital ratio is considered an important indicator of a bank's financial strength
Mumbai-headquartered Aptech Ltd, has entered into a 51:49 joint venture with Falgo group to set up various IT training centers in Brazil.
Brasilia - The Brazilian government complained Monday that Mexican authorities took too long to inform other countries of its swine flu outbreak. Brazil has so far not reported any cases of swine flu, the Health Ministry said.
Sakhir, Bahrain - Germany's Timo Glock was fastest in final practice for Sunday's Formula One Bahrain Grand Prix but then developed a problem with his Toyota ahead of qualifying later in the day. Ferrari's Felipe Massa of Brazil was second fastest, ahead of Williams driver Nico Rosberg, who had been quickest in the previous day's second practice.
Surya Brasil, a Brazilian personal care firm, has plans to setup up a manufacturing facility in the India, to cater the growing demand for its products in the region. 
Brasilia - Brazil condemned Iranian President Mahmoud Ahmadinejad's verbal attack on Israel at a UN racism conference as it prepares for a May 6 visit by the Iranian leader.
