Thursday, January 28th 2016 - 06:28 UTC

Guanabara Bay pollution at the heart of Olympics sailing competition controversy

Andy Hunt took over just two weeks ago as the new CEO, and sailing is still scheduled to begin in August in the sewage-filled Guanabara bay.

The former CEO of World Sailing says he was fired for pushing to get rid of polluted Guanabara Bay as the sailing venue for this year’s Olympics in Rio de Janeiro. Peter Sowrey tried to change the venue, or at least have a “B plan” but says “I was told to gag myself on the subject.”

Wednesday, January 27th 2016 - 08:28 UTC

Brazil's current account deficit drops to 3.32% of GDP, lowest since 2010

According to Maciel, the dollar, which soared roughly 50% in 2015 from 2014, also had an impact on the current account.

The soaring US dollar and Brazil’s slumping economy led to a weaker demand for imported goods and services in 2015. As a result, Brazil’s current account deficit reached USD 58.942 billion, equivalent to 3.32% of GDP. The result is the smallest amount since 2010. In 2014, the current account deficit reached USD 104.181 billion, or 4.31% of GDP.

Wednesday, January 27th 2016 - 08:20 UTC

SBM Offshore reaches out of court settlement with Brazilian prosecution

CEO Bruno Chabas, and Sietze Hepkema from the supervisory board, has agreed to a settlement which will be paid by the Amsterdam-based company.

SBM Offshore’s CEO and another company executive have agreed an out-of-court settlement with the Brazilian public prosecutor’s office (Ministério Público Federal) for charges relating to the Petrobras corruption scandal.

Monday, January 25th 2016 - 10:36 UTC

Oil price plunge distorts Brazilian market and leaves Rio cash strapped

“Brent Dated” index, based on a seven-day rolling average price for crude, will be used up to the price level of $50 a barrel, said the decree signed by Rousseff

Brazil's President Dilma Rousseff approved a resolution to maintain the current system for establishing the minimum price of oil on which royalty payments are paid by state-run oil company Petrobras to local governments.

Saturday, January 23rd 2016 - 09:01 UTC

Rousseff eyeing foreign reserves to boost economy and cash strapped government

In an interview with the online news service UOL, Rousseff said she was neither for nor against using Brazil's international reserves, which total about $370 billion.

President Dilma Rousseff said on Friday that her cash-strapped government could consider tapping into Brazil's sizeable foreign reserves at a given moment, an idea that troubles investors already worried about the country's economic decline.

Friday, January 22nd 2016 - 07:05 UTC

Lula furious over bribe allegations says he's the most honest man in Brazil

“In this country there is not a living soul more honest than me,” he said. “No police chief, no public prosecutor, no church worker” said the former president

Brazil's ex president Lula da Silva declared that there is “no more honest living soul in the country” than him, as he angrily rejected new corruption allegations linking himself and some of his relatives to the corruption scandal involving state-run oil company Petrobras.

Thursday, January 21st 2016 - 07:13 UTC

In a surprise move, Brazil's central bank leaves interest rate unchanged at 14.25%

Chief Alexandre Tombini and five other members of the monetary policy committee voted to hold the rate steady, while two voted to increase it.

Recession-hit Brazil's central bank in a divided vote left the key interest rate untouched on Wednesday despite rising inflation, opting against an increase that could put a further brake on the world's seventh-biggest economy.

Wednesday, January 20th 2016 - 08:06 UTC

Rousseff's impeachment chances dying out as main ally is strongly divided on the issue

“The momentum for impeachment has lost force, yes, due to the brutal interference of the Supreme Court in a legislative matter,” said PMDB Darcisio Perondi

President Dilma Rousseff’s opponents in the fractious Brazilian Democratic Movement Party (PMDB) are losing hope that they can impeach the leader and replace her with their man, Vice-President Michel Temer.

Monday, January 18th 2016 - 08:36 UTC

Argentina new bills: Evita and Malvinas out, replaced by Andean deer and condor

The 100-Peso bill with the image of Evita Peron, will be replaced by the image of a Taruca or Andean deer.

Inflation plagued Argentina will be issuing higher denomination bills and at the same time will avoid politics and history, concentrating on images of autochthonous fauna in danger of extinction. This means that the latest bills issued, 100 and 50 Pesos, with the image of Evita Peron, and Falklands/Malvinas and the notorious Gaucho Rivero, should quickly become collection pieces.

Monday, January 18th 2016 - 08:24 UTC

Rousseff eliminates regulations which impeded public universities working with the private sector

The law authorizes universities and public research institutions to work more freely with companies, including a mechanism giving access to public research facilities.

Full-time professors at public universities in Brazil will now be allowed to carry out research in the private sector—and get paid for it, without having to drop their academic jobs. The change is the result of a new law, signed by President Dilma Rousseff, designed to bring science and industry closer together.


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