Sunday, September 27th 2015 - 09:37 UTC

Major offshore drilling company accused of involvement in Petrobras scandal

“Transocean is investigating allegations made by Mr. Musa and will continue its efforts to ensure no violation of company policy or law has, or will, occur”

Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run Petrobras, Brazilian court documents showed.

Sunday, September 27th 2015 - 09:27 UTC

Brazil unemployment up for eighth month running; double December's rate

 The unemployment rate has been pushed up by hundreds of thousands of layoffs in manufacturing and service sectors as Brazil's economy heads into recession.

Brazil's unemployment rate rose for an eighth straight month in August to the highest in over five years, although the increase was slightly smaller than markets expected. The non-seasonally adjusted jobless rate rose in August to 7.6%, from 7.5% in July, statistics agency IBGE said.

Saturday, September 26th 2015 - 09:04 UTC

Bill & Melinda Gates foundation sues Petrobras alleging 'pervasive bribery'

Created in 2000 by Microsoft Corp co-founder Bill Gates and his wife Melinda, the foundation focuses on improving education and health and reducing poverty.

Bill & Melinda Gates Foundation have sued Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company.

Saturday, September 26th 2015 - 08:55 UTC

Minister Swire opens Minas Gerais Consulate General, ahead of Rio 2016 Olympics

Minister Hugo Swire said he was “excited to open our new British Consulate General in Belo Horizonte, and to visit Minas Gerais for the first time”.

The United Kingdom preparing for Rio Olympics 2016 with a new pilot Consulate General in Belo Horizonte to make the most of trade and business opportunities ahead of the Games.

Saturday, September 26th 2015 - 08:03 UTC

Petrobras increases LPG price 11% for commercial and industrial clients

Brazil is an important oil producer but its refineries cannot produce enough LPG for domestic needs, forcing the country to import a quarter of LPG needs.

Petrobras announced that the price of liquefied petroleum gas (LPG) for commercial and industrial clients has risen 11%, effective midnight Friday. The company said the increase does not affect the price of LPG sold in smaller containers for residential uses such as household cooking, which rose 15% on September first.

Friday, September 25th 2015 - 07:17 UTC

Brazil's Real recovers ground after Central bank promises to use all 'instruments available'

“In this process, all instruments are available for the central bank,” Tombini said. “Foreign reserves are an insurance that could and should be used.”

Brazil's depressed currency rebounded Thursday after the head of its central bank vowed to use all instruments in its arsenal to curtail the Real's collapse. Earlier in the day the Real tumbled to an all-time low of 4.248 to the U.S. dollar, but bounced back to 4.023 after central bank President Alexandre Tombini, in an unscheduled press briefing, did not rule out selling part of the country's $371 billion foreign reserves to calm the exchange rate market.

Friday, September 25th 2015 - 06:37 UTC

Minister Swire will open UK consulate in the Brazilian state of Minas Gerais

Swire will be accompanied on the occasion by UK ambassador in Brazil, Alex Ellis and staff from other British consulate offices in Brazil

The UK will be opening a general consulate office in Belo Horizonte, capital of Minas Gerais, one of Brazil's most dynamic states, which outstands both for agriculture and industrial production. Foreign Office minister for Latin America, Hugo Swire is scheduled to be present at the opening ceremony on Friday.

Thursday, September 24th 2015 - 09:05 UTC

Rousseff partial victory: Congress upholds vetoes cutting additional expenses

Congress voted to retain 26 of Rousseff's 32 vetoes on spending worth 127 billion Reais ($ 31.5 billion), including salary increases for government workers

Brazil's Congress on Wednesday voted to uphold most of President Dilma Rousseff's vetoes on billions of dollars in additional expenses, marking a partial victory for the president, who is fighting a weakening economy and calls for her ouster, plus a plunging currency.

Thursday, September 24th 2015 - 07:41 UTC

Brazil and UK joint research of critical elements in the deep northeast Atlantic

“A research expedition is planned for next year to the northeast Atlantic to discover what controls the richness of these deep-sea deposits,” Dr. Murton said.

Scientists from the U.K. and Brazil will work together to study the formation of ocean minerals essential for new technology, particularly environmental technology such as photovoltaic cells.

Wednesday, September 23rd 2015 - 07:17 UTC

Uruguay pumps greenbacks to keep the US dollar rate on sliding stability

The Uruguayan central bank was forced to sell almost 65 million dollars to keep the US currency in the range of government's target

Uruguay's central bank was forced to sell almost 65 million dollars on Tuesday, the highest volume so far this year, to keep the US dollar from ballooning as fears of the collapse of the Brazilian economy are felt through the region. The dollar finally ended trading with a slight 0.12% increase at 28,826 Pesos to the greenback.


Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!