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Rio de Janeiro, Brazil News About Rio de Janeiro, Brazil Rio de Janeiro is a major commercial and financial center. Numerous corporate headquarters and domestic and foreign banks are located there. An excellent harbor has helped make the city a major port. Tourism is extremely important. Manufacturing is also a significant economic activity. The city was chosen as headquarters for state-owned companies such as Petrobras, Caixa Econômica Federal and Vale do Rio Doce (which was privatized in the 1990s). After the transfer of the capital to Brasília, in 1960, it kept attracting more companies, especially after the discovery of oil in the Campos Basin, which produces most of the total oil production of Brazil. This made many oil and gas companies to be based in Rio de Janeiro, such as the Brazilian branches of Shell, EBX and Esso. The headquarters of BNDES, an important state institution, is also in Rio de Janeiro. The city is also the headquarters of large telecom companies, such as Intelig, Oi and Embratel. Major Brazilian entertainment organizations are based in Rio de Janeiro like TV Globo (Globosat, Globo News, SportTv, Telecine, Tv Brazil), NET, Sky and WayBrazil and also some of Brazil's major newspapers: Jornal do Brasil, O Globo, O Dia, and Business Rio. Major international pharmacuetical companies have their Brazilian headquarters in Rio such as Merck, Roche, Arrow, Darrow, Baxter, Mayne, and Mappel. The GDP for the city was R$ 118,979,752,000 (2005). The per capita income for the city was R$ 19,524 (2005). Other Major Cities:
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