Credit rating agency Standard & Poor’s on Friday raised its corporate credit rating on Petrobras, one notch, from B+ to BB-. The rating change does not lift Petrobras out of the non-investment grade category, but it lowers the risk from “highly speculative” to “speculative.”
Brazil's Agriculture Minister Blairo Maggi said on Monday he has asked the country's Foreign Trade Chamber (Camex) for authorization to open robusta coffee imports at near zero tariff, according to the ministry.
A Brazilian judge censored articles in two respected and influential newspapers, Folha de Sao Paulo and O'Globo, which reported on an extortion attempt suffered by the First Lady Marcela Temer last year. Both newspapers anticipated they will be appealing the ruling.
Brazilian President Michel Temer on Monday denied suggestions that he is trying to protect a minister implicated in a corruption scandal. Temer is under fire in the media and judiciary for controversially naming his close adviser Wellington Moreira Franco to a cabinet-level position.
Children returned to school and most public transport began operating again Monday in the Brazilian state of Espirito Santo state, which had been paralyzed by a protest that prevented military police from patrolling. Amid fears a similar protest could erupt in the days before Carnival, the Brazilian government announced it would deploy troops to police the state of Rio de Janeiro.
More than 1,200 military police returned to patrols in Espirito Santo on Sunday as the n Brazilian state inched toward normalcy after a protest left a security vacuum that fueled a crime wave. Schools in the state (north of Rio de Janeiro) are scheduled to reopen Monday and public transport will resume a full schedule, the president's office said on Twitter.
Mercosur representatives will be meeting their European Union counterparts this week, beginning Monday, in Brussels in anticipation of another round of trade and cooperation discussions scheduled for March in Buenos Aires. Mercosur members, under the coordination of Argentina, which currently holds the group's chair are attending with a common position reached after several days of videoconferences.
More than 100 people have been reported killed during a six-day strike by police in the Brazilian state of Espirito Santo, as hundreds of troops patrolled streets attempting to keep order with schools and businesses closed and public transport frozen.
A partial police shutdown over unpaid wages put Rio de Janeiro on edge Friday, sparking fears of chaos similar to that seen in a neighboring Espirito Santo state where police are in revolt and criminals have run amok. Morale among street police is low as a result of nearly bankrupt Rio state's inability to pay full wages, as well as brutal crime fighting that has seen more than 3,000 officers killed in Rio since 1994.
Mercosur foreign ministers will be meeting next March 9 in Buenos Aires in the framework of Argentina's pro tempore chair and following on the Argentine/Brazilian presidents recent meeting when it was decided to give the group a new thrust taking advantage of the new world scenario.