Sao Paulo - Developing countries need a greater say in the global economy, said Brazilian President Luiz Inacio Lula da Silva Saturday.

"Developing country participation in (international) decision- making mechanisms needs to be strengthened," he said in his opening speech before a two-day summit of representative of the G20 nations. The meeting is to prepare for a global financial summit next weekend in Washington.

Rio de Janeiro - Brazilian President Luiz Inacio Lula da Silva said Friday that US president-elect Barack Obama could lose the political capital he has gained if the financial crisis extends for another year.

Obama faces the "greatest responsibility" to solve the widening credit crunch, Lula said.

"Obviously he will have to make moves to solve it, because that crisis cannot extend much longer. All the political capital he gained can be lost if the crisis extends for one or two years."

Brasilia  - Brazilian President Luiz Inacio Lula da Silva on Wednesday described Democratic candidate Barack Obama's victory as an "extraordinary event" and asked the US president-elect to lift the decades-old embargo on communist Cuba.

Lula said Obama's historic rise underlined the democratic aspects of US society. "It could only happen in a democratic regime in which society expresses itself."

Rio de Janeiro - British driver Lewis Hamilton, the youngest-ever Formula 1 world champion, said in Brazil that he would have supported Democratic Party presidential candidate Barack Obama, if he could vote in Tuesday's elections in the United States.

"I wish both candidates the best, but I really like Obama, and if I were (a citizen of) the United States I would have done my best to help him," the McLaren driver said, in comments that the Brazilian daily Folha de Sao Paulo published Tuesday.

Obama is seeking to become the first-ever black president of the United States.

Rio de Janeiro - Brazil coach Carlos Dunga on Monday played down his rivalry with Diego Maradona, after the new Argentina coach had criticized Dunga last week.

"I hope things go well for him," Dunga said.

After his controversial appointment last week as coach, Maradona recalled his playing days, when he had led Argentina on the pitch to the 1986 World Cup and Dunga had captained Brazil to the 1994 World Cup.

Sao Paulo - Banco Itau Holding Financeira SA agreed to acquire Uniao de Bancos Brasileiros SA on Monday, creating Brazil's biggest bank.

The Brazilian government applauded the merger and said it would make the country's financial system stronger.

"That new bank is set to become one of the largest financial institutions in the world," said Finance Minister Guido Mantega. He described the merger as "an important event, because they are two traditional, solid banks that will become even more solid."