Brazil

Brazil
Saturday, November 15th 2014 - 07:52 UTC

Something stinks in Petrobras: former director and leading contractors CEOs arrested on bribery charges

Renato Duque, a former Petrobras senior executive arrested in an investigation that allegedly skimmed billions of dollars off contracts and into political parties

Brazilian police arrested a former Petrobras executive on Friday, sending the state-run oil company's shares and bonds down after a widening corruption scandal forced it to delay the release of its financial results.

Friday, November 14th 2014 - 08:03 UTC

Fears of a new Chikungunya viral strain in Brazil with the coming of summer

Brazil has recorded over 200 Chikungunya cases, but the African strain has not yet developed the type of dangerous mutations observed in South-east Asia.

The Chikungunya outbreak which continues to affect thousands of Caribbean residents since it first appeared in St. Martin last year has been relatively self-limiting in the United States, due to the fact that the current strain only spreads through the Aedes egypti mosquito vector, which is uncommon on the US Eastern seaboard.

Friday, November 14th 2014 - 06:38 UTC

Brazil's Rouseff re-election: lower expectations

Rouseff’s low key approach to foreign policy will also continue. Mercosur and South America will be her priority

By R. Viswanathan (*) - The reelection of President Dilma Rouseff means continuation of the slow growth of the Brazilian economy and a lower likelihood of much-needed, major political and economic reforms. India should lower its expectations on a global partnership with Brazil.

Wednesday, November 12th 2014 - 06:48 UTC

US authorities looking into 'possible bribes' in the Petrobras corruption scandal

US authorities are looking into whether Petrobras or its employees, middlemen or contractors, violated the Foreign Corrupt Practices Act

United States authorities are investigating whether Brazil's giant gas and oil corporation Petrobras or its employees were paid bribes, adding to the mounting domestic corruption probes facing the state-controlled oil company.

Wednesday, November 12th 2014 - 06:38 UTC

Rousseff tells Congress it will miss the fiscal target; resigning minister calls for a “shock of credibility”

Dilma's request for a more flexible target reflects the weak state of Brazil finances after a series of tax cuts and high public spending reduced savings

Brazilian President Dilma Rousseff on Tuesday asked Congress to allow the government to deduct all of its investments and tax exemptions from a key 2014 fiscal target, effectively lowering a goal that it will miss for the third straight year.

Tuesday, November 11th 2014 - 10:04 UTC

Violent crime costs Brazil 5.4% of GDP; 2.212 people dead in police operations

The annual report said 490 police officers were murdered last year, 43 more than in 2012, while over the past five years, 1,170 officers have been killed.

Violent crime cost Brazil 258 billion Reais (about 100 billion dollars) in 2013, a figure equivalent to 5.4% of the country's GDP, according to the new Brazilian Public Safety Annual Report, in which it is stated that an average of six people died in police operations each day during the year.

Tuesday, November 11th 2014 - 04:16 UTC

Unasur ready to help Venezuela organize a “major social pact” to overcome the current situation

Samper met with Dilma Rousseff and apparently addressed the Venezuelan situation

Venezuela needs a 'major social agreement' to adjust its economy and overcome the current and persistent political conflicts in the country, said Ernesto Samper, chairman of Unasur (Union of South American Nations) during a visit to Brasilia.

Saturday, November 8th 2014 - 09:37 UTC

Relief for Petrobras: Dilma allows increase in gasoline and diesel prices

The cost of gasoline at the refinery gate rose 3% and diesel 5% midnight (0200 GMT) Friday, Petrobras said in a statement.

Brazil raised domestic wholesale gasoline and diesel prices for the first time in more than 11 months effective Friday in a move to bolster the finances of the heavily indebted Petrobras oil and gas company after years of refining losses.

Friday, November 7th 2014 - 22:44 UTC

Despite Rousseff, extreme poverty grows for the first time in a decade

Between 2001 and 2012 Brazil cut extreme poverty from 14% of the population to 3.5%, according to the United Nations State of Food Insecurity report

The number of Brazilians living in extreme poverty grew for the first time in a decade, according to government figures. The Institute of Economic Research reported that the number of people in households with incomes below the poverty threshold of 30 dollars rose from 10.1 to 10.5 million people, which means a 3.7% increase.

Wednesday, November 5th 2014 - 04:06 UTC

“Mercosur and Pacific Alliance are not contradictory competing blocks”

Minister Cespedes is confident that Mercosur and the Pacific Alliance are consistent in their integration goal

Mercosur and the Pacific Alliance are not contradictory competing blocks, and can advance towards a mutually beneficial convergence, said Chile's Economy minister Luis Felipe Cespedes during a trade and investment promotion seminar in Brazil.

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