STXNEWS LATAM-Vale CEO sees 'renewed hangover' from financial crisis

miércoles 19 de febrero de 2014 09:08 GYT

Business activity is facing more downward pressure, Brazil's Vale SA Chief Executive Officer Murilo Ferreira said on Wednesday, likening the situation to a "renewed hangover" stemming from the 2008 global financial crisis. In a Senate hearing in Brazil's capital, Ferreira said his outlook for business was "far from discouraging," although noted that the economic outlook is "very challenging, globally speaking."

Vale is the world's No. 1 iron ore producer.