Brazil

Brazil
Monday, August 15th 2016 - 15:09 UTC

July inflation in Brazil remains over target: 8.74% in twelve months

Higher-than-expected inflation this year has forced the central bank to keep its benchmark Selic rate near 10-year highs despite a crippling recession

Inflation in Brazil rose more sharply in July than economists expected, official data showed, raising pressure on the central bank to keep interest rates on hold for some time.

Monday, August 15th 2016 - 07:19 UTC

Brazil concerned about the 25% surge of the Real against the US dollar

Temer said he was worried about the Real's recent appreciation against the dollar and added his government will “look for an equilibrium” in the exchange rate.

The Brazilian Real weakened further on Friday after interim President Michel Temer showed concern over currency strength, while stocks edged lower following a heavy batch of quarterly results including state controlled oil company Petrobras.

Saturday, August 13th 2016 - 08:50 UTC

Media exposes Brazil congress 'behind the scenes' plot for a 'corruption amnesty' in the Petrobras case

Operation “Car Wash,” the gargantuan investigation into endemic corruption in Brazil, has jailed scores of elite politicians and business leaders

Brazilian financial newspaper Valor Econômico revealed details of an alleged corruption amnesty currently being discussed by lawmakers who have been accused of alleged involvement in the graft scandal at state oil firm Petrobras.

Friday, August 12th 2016 - 07:08 UTC

Petrobras Q2 profit tumbles by a third; massive debt condition performance

Part of the problem is Petrobras' huge debt, Chief Financial Officer Ivan Monteiro told reporters on Thursday.

Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.

Thursday, August 11th 2016 - 16:40 UTC

“Moment of truth” for Venezuela's standing in Mercosur

The Nicolas Maduro government still has yet to incorporate 400 rules and regulations plus 50 accords to be considered a full member of Mercosur

Brazil, Argentina and Paraguay are waiting to see what happens on Friday, 12 August, when Venezuela has to prove that it has complied with all the pending requirements to confirm its Mercosur full membership condition dating back to 2012.

Thursday, August 11th 2016 - 16:35 UTC

Venezuela's attitude not helping to resolve the Mercosur situation, claims Uruguay

“From our point of view Venezuela has not committed an institutional rupture, but it certainly not helping much to solve the situation” said Nin Novoa

“Venezuela is not helping much to resolve” the unprecedented situation of Mercosur, said Uruguay's foreign minister Rodolfo Nin Novoa in reference to Venezuela's self proclaimed presidency of the group and which is rejected point blank by Brazil, Argentina and Paraguay who consider the post vacant.

Thursday, August 11th 2016 - 12:57 UTC

Brazil running out of corn allows imports to supply pork and poultry sectors

Agriculture minister Blairo Maggi said he is committed to meeting the requests of the industry and wants to ensure the supply of grain in the country

A lower-than-anticipated domestic corn supply is pushing prices up, putting pressure on Brazil’s pork and poultry sectors, and forcing the government to intervene, the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said in its latest report.

Wednesday, August 10th 2016 - 15:49 UTC

Brazilian Senate votes to impeach Rousseff, and Temer could cease to be “interim” president

The Senate needed just a simple majority to decide on taking Rousseff to trial, but a two-thirds majority will be needed in the final vote, after the trial in late August.

Brazilian Senate has voted to begin the impeachment trial of embattled President Dilma Rousseff, a move that could officially hand over power to her former vice president – current interim president – Michel Temer. The impeachment trial is expected to open around August 25 - four days after the Olympics finish - and go on for five days, ending with a vote in judgment.

Wednesday, August 10th 2016 - 05:24 UTC

Venezuela as Mercosur full member faces deadline: Friday 12 August

 “We´re waiting to see what happens this Friday, deadline for Venezuela to show it has complied with conditions to enjoy full membership of Mercosur”, said Loizaga

Brazil, Paraguay and Argentina are waiting for a report on Venezuela´s compliance with the accords agreed in 2012, which has to delivered next Friday 12 August, and could lead the group of three counties deciding the suspension of Caracas as full member of Mercosur. A week and a half later, 23 August, representatives of these countries will be meeting to address the issue.

Tuesday, August 9th 2016 - 08:57 UTC

Head of Brazil's nuclear energy development sentenced 43 years in jail for corruption

Othon Luiz Pinheiro da Silva considered the father of Brazil’s nuclear program and a pillar of the military-industrial establishment, was convicted of corruption

The CEO of Brazil’s nuclear power company Eletronuclear, was sentenced to serve 43 years in prison by a Rio de Janeiro judge, Valor Economico newspaper reported. Othon Luiz Pinheiro da Silva considered the father of Brazil’s nuclear program and a pillar of the military-industrial establishment was convicted of corruption, money-laundering, organized crime and obstruction of justice, in the latest chapter of the country’s historic “Operation Carwash” investigation.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement