Brazil

Brazil
Friday, June 17th 2016 - 00:13 UTC

Meirelles sponsors constitutional amendment to cap public spending increases

“The main goal is to ensure that growth in the public debt relative to GDP, which has grown systematically, is stabilized and then begins to fall,” said Meirelles

The government of Brazil’s interim president Michel Temer said on Wednesday it would propose to lawmakers a constitutional amendment to cap public spending increases for at least 10 years.

Thursday, June 16th 2016 - 11:54 UTC

Brazilian suspended lawmaker warns that if arrested he will take other politicians down with him

Cunha, the architect of suspended President Dilma Rousseff's impeachment, could also lose the partial immunity enjoyed by elected politicians.

Brazil's congressional ethics committee voted to strip suspended Speaker Eduardo Cunha of his seat for allegedly lying about undeclared Swiss bank accounts, the latest in a series of political earthquakes to rock Latin America's largest country.

Thursday, June 16th 2016 - 11:04 UTC

Emergency Loans to three Brazilian states unable to pay salaries and pensions

Rio Grande do Sul secretary of Finance, Giovani Feltes, attested to the loan negotiations and said the money would give his state a “much-needed breather.”

Brazil is considering an emergency loan to aid, as many have called it, the broken state of Rio de Janeiro, according to two senior federal government officials. News reports said the federal loan would be shared with Rio Grande do Sul, and Minas Gerais states, where employees and pension beneficiaries are not getting paid.

Thursday, June 16th 2016 - 08:33 UTC

Temer linked to the Petrobras scandal by a key witness

Machado, former chief executive of state oil company Petrobras, said that Temer had asked for money from the company to fund political campaigns

Brazil's interim president Michel Temer has been linked to one of the country's biggest corruption scandals in testimony by a key witness made public Wednesday. . Sergio Machado, former chief executive of state oil company Petrobras, said that Temer had asked for money from the company to fund political campaigns for himself and other members of his party.

Thursday, June 16th 2016 - 07:11 UTC

Supreme Court lets three powerful Temer allies off the hook

Justice Teori Zavascki rejected the request o arrest Senate President Renan Calheiros; Sen. Romero Jucá, and former President José Sarney.

Brazil's Supreme Court has rejected a request by the nation’s Attorney General to arrest three senior members of acting President Michel Temer’s party in connection with the massive corruption investigation focused on Petrobras.

Wednesday, June 15th 2016 - 11:46 UTC

Rio Games receive the blessing from Olympic Committee president

Bach said “we have confidence in Brazilian democracy.” Bach and Temer met at the Barra de Tijuca Olympic Park, the largest venue for the Games.

International Olympic Committee president Thomas Bach said on Tuesday he was “happy” with interim Brazilian president Michel Temer's commitment to the Rio Games, following his first meeting with the host country's new leader.

Tuesday, June 14th 2016 - 08:32 UTC

Brazil and Argentina crop problems raise demand for US supplies

USDA trimmed its 2015/16 Brazil corn harvest outlook by 3.5mmetric tons to 77.50m metric tons and its Brazil soy harvest outlook by 2m metric tons to 97m tons

Domestic supplies of corn and soybeans will be tighter than expected in the United States as problems with crops in Brazil and Argentina have raised demand for U.S. supplies from overseas buyers, the U.S. Agriculture Department. In its latest monthly supply and demand report, the government cut its new-crop and old-crop ending stocks outlooks for both corn and soybeans by more than analysts had forecast.

Tuesday, June 14th 2016 - 08:22 UTC

Petrobras pre-salt fields production climb to a new high in May: 1.1MMboe/d

Pre-salt production of oil and natural gas climbed to a new high, breaking the 1 MMb/d mark for the first time on May 8.

Petrobras’s oil production in Brazil averaged 2.16 MMboe/d in May, its fifth highest monthly figure to date. The growth was due mainly due increases from the company’s pre-salt fields, with new wells connected to the FSPO Cidade de Maricá serving the Lula field in the Santos basin.

Monday, June 13th 2016 - 15:45 UTC

US and Brazil studies confirm the presence of the “super bacteria” in Rio beaches and lagoons

A 2014 study had shown the presence of the super bacteria, off one of the beaches in Guanabara Bay, where Olympic sailing and wind-surfing events will be held

Scientists have found dangerous drug-resistant “super bacteria” off beaches in Rio de Janeiro that will host Olympic swimming events and in a lagoon where rowing and canoe athletes will compete when the Games start on August 5.

Monday, June 13th 2016 - 07:44 UTC

Brazil's fiscal accounts “worse than ever imagined” confesses Temer

“The fiscal accounts were worse than we imagined, Petrobras was broken, Postal Office broken, Eletrobras broken, and I still have faced an aggressive campaign”

Brazil's fiscal accounts were in worse shape than initially thought after the suspension of Dilma Rousseff, underscoring the challenge facing the country's new economic team, acting President Michel Temer said.

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