Source AP ©

Brazil to invest money in technology, science and innovation

Brazil will invest 41.2 billion reals (US$23.5 billion; 15.9 billion EUR) in technology, science and innovation in the next three years.

The government said the investments are part of its "Growth Acceleration Project," which will continue until 2010.

Funding will go to technological education centers, scholarships, scientific projects and incentives for private research.

The government plans to invest 1.5 percent of the nation's gross domestic product in technology, up from the current 0.5 percent.

Earlier Tuesday Silva said the recent discovery of a huge oil field "proves that God is Brazilian."

State-run Petroleo Brasileiro SA said reserves at Tupi field could be up to 8 billion barrels of oil equivalent, which could put Brazil among the ranks of the world's major exporters.

About 95% of Putin's Address to the Federal Assembly was devoted to social issues, but he also spoke about Russia's military power, her state-of-the-art weapons, and did not miss a chance to intimidate the United States.

Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech

About 95% of Putin's Address to the Federal Assembly was devoted to social issues, but he also spoke about Russia's military power, her state-of-the-art weapons, and did not miss a chance to intimidate the United States.

Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
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