China loan could boost Brazils economy

The Brazilian economy could soon receive a huge boost after it emerged that China has offered the country a loan to help it fully exploit its lucrative oil reserves.

The $10 billion (£6.75 billion) government loan would allow state-owned oil company Petrobras to take its exploration activities in the pre-salt layer of the South Atlantic Ocean to the next level, according to Associated Press.

Over time this could lead to a boost in the Brazilian economy which would be good news for anyone with property there.

In other Brazilian news, heavy metal legend Iron Maiden will perform five gigs in the country on the final leg of their world tour.

The band's manager, Ron Smallwood, highlighted Sao Paulo's Autdromo De Interlagos - the racing track on which Lewis Hamilton recently secured his Formula 1 title - as a key venue.

"Capacity is about 400,000. I don't think we'll get 400,000." he told CNN.

"We're set for about 60,000 and we hope to go past that."

Other venues include the Apoteose in Rio de Janeiro, Estadio Municipal in Recife and Brasilia Camping in Brasilia.

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