Brazil

Brazil
Monday, December 1st 2014 - 08:19 UTC

Slow planting season cuts soybean production prospects for Brazil

The US Department of Agriculture bureau in Brasilia pegged the Brazilian soybean crop, the world's second biggest after that of the US, at 92.0m tons.

US officials joined market analysts cutting Brazilian soybean production prospects thanks to a slow planting season, but maintained expectations of a, small, rise in exports to a record high.

Friday, November 28th 2014 - 06:46 UTC

New Brazilian minister pledges realistic fiscal targets and balanced economic growth

“We are not in a moment of crisis, so it is important to lay the basis for the next few years,” Levy told reporters in a first attempt to transmit confidence

Brazilian President Dilma Rousseff finally announced on Thursday the appointment of Joaquim Levy, as her next Finance minister who is also known as the 'scissors man', who pledged more realistic fiscal targets and promised more balanced economic growth.

Friday, November 28th 2014 - 06:13 UTC

Petrobras agrees to appoint a “governance, risk management and compliance” director

The creation of this new position will not increase the number of Board Members, since it will replace that of International Executive director.

Brazil's oil and gas giant Petrobras (and currently immersed in a major corruption scandal) has decided the appointment of a director of governance, risk management and compliance mainly to ensure risk mitigation and ensure the repeat of situations of fraud and corruption, according to a release from the corporation.

Wednesday, November 26th 2014 - 06:39 UTC

US Securities & Exchange Commission investigating Petrobras corruption scandal

Petrobras received a SEC subpoena requesting material and is working with law firms Trench, Rossi and Watanabe, and Gibson, Dunn & Crutcher

Brazil’s state-run oil firm Petrobras said on Monday it had received a subpoena from the US Securities and Exchange Commission asking for documents relating to an investigation it is pursuing. The SEC investigation is the latest in a multi-layered probe into Petrobras which is spreading beyond Brazil’s borders.

Monday, November 24th 2014 - 07:14 UTC

Brazil's JBS purchases leading ham and bacon supplier in Australia

The deal represents an “outstanding opportunity to expand our business in Australia”, a major meat exporting country, said JBS CEO Batista

Brazil's JBS, the world's biggest meat group, beefed up its growth in Australia with the 1.25bn dollars purchase of Primo Smallgoods Group. JBS said that through its JBS Australia business, it had paid Aus$1.45bn in cash for the supplier of the likes of ham and bacon to Oceania.

Saturday, November 22nd 2014 - 06:07 UTC

Rousseff expected to announce proven fiscal hawk as Finance minister

Joaquim Levy, Nelson Barbosa and Alexandre Tombini according to media will be team conducting Brazilian finances

Brazilian president Dilma Rousseff already has the names for crucial posts in her new government, but they will not be announced until next Wednesday according to reports in Sao Paulo and Rio do Janeiro newspapers based on Planalto sources. But the names were sufficient to make the Sao Paulo stock exchange surge 5% on Friday.

Friday, November 21st 2014 - 08:50 UTC

Petrobras case revealing the extent of corruption in Brazil's political system

”You can’t even put a brick on the ground if you don’t reach some kind of agreement (with politicians),” said defense attorney Mário Oliveira Filho

The lawyer of the Brazilian lobbyist Fernando Baiano, who was finally arrested in an ongoing investigation into corruption at state oil company Petrobras, has said that “no public work is done in Brazil without a bribe” and that the people who deny allegation of corruption “ignore the country’s history.”

Thursday, November 20th 2014 - 05:05 UTC

Former Brazilian minister blames Argentina for lack of EU/Mercosur trade accord

“Mercosur is stalled, maybe it's time to declare the independence of Brazil from that group”, said Furlan

A former Brazilian Development minister and currently member of the board of BRF, one of the world's leading food corporations, Luiz Fernando Furlan said Brazil is far away from world trade agreements and urgently needs to review policies in this area, including participation in Mercosur.

Wednesday, November 19th 2014 - 08:06 UTC

Brazil's economy growth forecast could have reached a positive inflection point

The GDP growth estimate was included in the weekly Central Bank survey of analysts from about 100 private financial institutions

Private sector analysts raised their 2014 growth forecast for Brazil's economy to 0.21% from 0.20% last week, the Central Bank said on Monday. But analysts left their 2015 gross domestic product (GDP) growth estimate unchanged at 0.80%, the Central Bank said. However it is expected the latest forecast could mean the beginning of the end to the sustained several years slide and an inflection point.

Wednesday, November 19th 2014 - 06:57 UTC

Petrobras corruption: plea bargains with the return of 165m dollars with five accused

O'Globo said it includes Paulo Roberto Costa, a jailed former Petrobras director who exposed the massive scope of alleged payments to Brazilian politicians

Five people accused in a corruption scandal at Brazil's state oil giant Petrobras have agreed to return 165 million dollars to the public purse in plea bargains with prosecutors, a newspaper reported Tuesday.

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