Brasilia  - The Brazilian government enacted additional tax cuts on Monday in the face of shrinking forecasts for gross domestic product amid the global economic downturn.

The move came after the country's central bank on Monday reduced its economic outlook for GDP to 1.2 per cent for the year from 3.2 per cent.

Finance Minister Guido Mantega announced a reduction of taxes on building materials and an extension of a tax break on cars. The government hopes to make up for the expected tax shortfall by increasing cigarette taxes to 30 per cent.

Sao Paolo - Next week's meeting of the world's largest economies at the Group of 20 (G20) summit in London would be a step toward transforming global power relations while the Group of Eight's (G8) role might have come to its end, British Trade Minister Peter Mandelson said.

The reforms expected at the London summit were a signal that the "era of the G8" is over, Mandelson - who accompanied Prime Minister Gordon Brown of G8 member Britain on a trip to Brazil - said Thursday at a speech in Sao Paolo.

Brasilia - Brazilian President Luiz Inacio Lula da Silva demanded Thursday that industrialized countries take responsibility in the efforts to overcome the current global financial crisis, which he said was created by "white people with blue eyes."

In a joint press conference with British Prime Minister Gordon Brown in Brasilia, Lula again stressed that it is necessary to regulate the international financial system.

Brasilia  - Brazilian President Luiz Inacio Lula da Silva demanded Thursday that industrialized countries take responsibility in the efforts to overcome the current global financial crisis, which he said was created by "white people with blue eyes."

In a joint press conference with British Prime Minister Gordon Brown in Brasilia, Lula again stressed that it is necessary to regulate the international financial system.

Sao Paulo  - The veteran Brazilian striker Ronaldo confirmed his recovery 13 months after knee surgery with a brace in Corinthians' 2-2 draw against Ponte Preta, in which he played the full game for the first time since the operation.

Ronaldo, 32, who has undergone three major knee injuries in his career, now has scored an average of 0.8 goals per game at his Brazilian club, very close to the best numbers of his footballing life.

Brasilia  - Brazilian President Luiz Inacio Lula da Silva launched an ambitious two-year, 15-billion-dollar plan Wednesday to build affordable housing.

The programme has the two-fold goal of stimulating the construction sector amid the global economic slowdown and alleviating Brazil's severe housing shortage.

Experts estimate that 8 million new homes are needed to satisfy demand in South America's most populous country.