Brazil

Brazil
Tuesday, September 9th 2014 - 03:27 UTC

Dilma confirms Finance minister Mantega is stepping down in October

“Guido has already told me that he cannot stay in the government for a second term due to personal reasons, which I ask you to respect,” said Rousseff

President of Brazil Dilma Rousseff has affirmed that current Finance minister Guido Mantega will not carry on in his post should the Workers' Party (PT) candidate win a second term as head of state in October's presidential elections.

Monday, September 8th 2014 - 06:44 UTC

Petrobras corruption allegations smear Brazil's political system a month ahead of elections

Paulo Roberto Costa, who was sentenced to 30 years in jail allegedly, is in negotiations with federal authorities by naming other culprits

A jailed former executive at state-controlled oil giant Petrobras Paulo Roberto Costa has reportedly implicated dozens of politicians from Brazil's leading political parties in a kickback scheme, a legal development that could shake up next month's general election.

Monday, September 8th 2014 - 05:56 UTC

Dilma pledges new economic policy and team if she wins: bye, bye Mantega

 “I won't speak of appointments, but a new government will require a new staff. I have no doubt about that,” said the Brazilian president

Brazil’s President Dilma Rousseff has hinted that if re-elected next month, she would not reappoint Finance Minister Guido Mantega. When reporters in Fortaleza asked Rousseff about Mantega’s role if she were re-elected, she responded that, “A new election means a new government, a new team.”

Saturday, September 6th 2014 - 06:27 UTC

Brazil's industrial activity shows the economy if far from a strong recovery

The poor showing “is caused by a strong retraction in investment and recent industrial data,” said CNI economic policy manager, Flavio Castelo Branco.

Industrial-activity data released this week added to worries that Brazil's economy, already in recession, is far from a strong recovery. The trade group National Confederation of Industry, CNI, said revenue for the Brazilian manufacturing sector fell 5.1% in July from a year earlier and rose 1.2% from June.

Saturday, September 6th 2014 - 03:04 UTC

Marina Silva's lead turns Dilma more aggressive in her re-election bid

Rousseff has seen her approval ratings plummet, leading many to wonder whether the Workers Party will be swept aside after 12 years in power.

Brazilian President Dilma Rousseff has adopted a more combative re-election campaign strategy after opinion polls showed her trailing popular environmentalist candidate Marina Silva. Two election surveys this week showed Rousseff was the frontrunner in the first round ballot scheduled for October 5, but would lose to Silva, a former environment minister, in a likely runoff.

Friday, September 5th 2014 - 02:14 UTC

Brazil leaves basic interest rate unchanged at 11%, given 'inflation prospects'

“Assessing the evolution of macroeconomic scenario and the inflation prospects”, Copom unanimously decided to maintain the Selic rate at 11%

With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting.

Tuesday, September 2nd 2014 - 22:45 UTC

Argentina/Brazil bilateral trade drops to 2010 level. Auto industry hardest hit

 Vehicles, auto parts, tractors, engines were among the items which experienced the greatest contraction in bilateral sales

Bilateral trade between Mercosur leading partners Argentina and Brazil plummeted 27.6% in August and 22% in the last twelve months, according to Buenos Aires consultants, Abeceb. Recession in Brazil plus strict Argentine trade restrictions and slower domestic demand has contributed to the results.

Monday, September 1st 2014 - 14:05 UTC

Ascending Marina Silva ties with Dilma and polarizes the 5 October election

Silva has surged to 34% support from 21% in a previous Datafolha poll conducted before she launched her candidacy

Presidential candidate Marina Silva has widened her lead over President Dilma Rousseff to 10 percentage points in what could be a likely runoff in Brazil's October election, a survey by polling firm Datafolha showed on Friday.

Saturday, August 30th 2014 - 11:49 UTC

Marina pledges to restore Brazil credibility and limit spending below growth rate

“We will be transparent. We will not use creative methods to make the accounts look good,” she said in reference to the Rousseff administration

Opposition presidential candidate Marina Silva said that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. The Brazilian economy fell into recession in the first half of the year, a heavy blow for President Dilma Rousseff's already diminishing hopes of winning re-election in October.

Saturday, August 30th 2014 - 10:53 UTC

Brazil in recession; Minister Mantega blames external factors and World Cup

The worst possible news for Dilma and her re-election chances in October

Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting in what will be a tough re-election battle. Brazil's national statistics institute said Friday GDP shrank 0.6% in the second quarter and revised an initially positive first quarter growth estimate down to -0.2 percent.

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