Brazil

Brazil
Thursday, February 12th 2015 - 20:57 UTC

Argentina and Brazil admit trade disagreements between Mercosur main partners

Timerman acknowledged trade between the two countries needs some “fine-tuning”, but for Argentina Brazil is its “most strategic partner.”

Argentina and Brazil failed to reach an agreement to help unlock the ongoing tension between the two key Mercosur allies over bilateral trade. Argentina's Hector Timerman and his counterpart Mauro Vieira met in Buenos Aires to try and ease Brazil’s growing concerns about restrictions on the flow of goods, but any decisions were pushed forward to an undetermined date.

Thursday, February 12th 2015 - 05:55 UTC

Petrobras CEO says he has 'full autonomy' in fuel-price policy and cash flow

Bendine said no decision had been taken on whether Petrobras will book 88.6 billion Reais (31 billion) of potential asset write-downs in its unaudited 3Q

The new chief executive officer of Brazil's Petrobras said that he has full autonomy to dictate its own fuel-pricing policy and protect cash, even as he questioned the size of losses stemming from a giant corruption scandal.

Thursday, February 12th 2015 - 05:45 UTC

Petrobras has trouble finding an independent chairman of the board

Barbosa's name for chairman of the board comes after Finance minister Joaquim Levy resisted taking the post

Petrobras plans to publish its delayed audited fourth-quarter results by the end of March, something it needs to do to avoid possible early repayment of its bonds, the Globo newspaper said on Wednesday. Globo also published that the Brazilian government was considering appointing Planning minister Nelson Barbosa as chairman of the oil giant.

Thursday, February 12th 2015 - 05:23 UTC

Explosion in Petrobras floating oil rig kills at least three; six missing

The Cidade de São Mateus is a floating oil production, storage and offloading ship (FPSO)

At least three oil workers were killed and others were injured in an explosion at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials have said.

Monday, February 9th 2015 - 17:34 UTC

Food, housing and transportation prices accelerate January inflation in Brazil

The rolling 12-month IPCA was up 7.14% through January, up from 6.41% in December, and is now above the central bank's 6.5% ceiling.

Brazil's consumer price inflation accelerated in January, putting the 12-month rate well above the central bank's tolerance band and at the highest level since September 2011, underscoring one of the main challenges facing Latin America's largest economy in the year ahead.

Monday, February 9th 2015 - 12:43 UTC

Dengue cases 'explode' by 57% in Brazil during January

Health Minister Arthur Chioro said the water shortage has led many people to store water in their homes out of fear that their supply could be cut off

Dengue cases in Brazil rose by 57% in January, an increase that the Brazilian government partially attributed to the water crisis in the country's southeastern region. In the first four weeks of the year, Brazil registered 40,196 cases of dengue, compared with 26,017 in the same period of 2014, the Brazilian Health Ministry said.

Friday, February 6th 2015 - 23:27 UTC

Market reacts negatively to Petrobras new CEO: too political and too close to Rousseff

Bendine, 51, is currently the chief executive of state-controlled Banco do Brasil and has no declared party militancy

Shares in Brazil's oil giant Petrobras plunged Friday as banking executive Aldemir Bendine, who is seen as too close to President Dilma Rousseff's party, was named the scandal-hit firm's new chief executive.

Friday, February 6th 2015 - 06:57 UTC

Brazil ruling party's treasurer questioned on the Petrobras corruption probe

 Vaccari is the most senior politician to be officially questioned in the case, which led Petrobras' CEO and senior managers to resign this week

Brazilian federal police said on Thursday they had started questioning João Vaccari Neto, the treasurer of the country's ruling Workers' Party, as a corruption probe focused on state-run oil company Petrobras widened to include political figures.

Thursday, February 5th 2015 - 09:30 UTC

Petrobras new management to be elected on Friday

The firm's board of directors will meet on Friday to elect a new management team to replace CEO Maria das Graças Foster and five other senior directors

The chief executive and other senior management at Brazil's Petrobras officially resigned on Wednesday amid a festering corruption scandal, sending shares higher as the government scrambled to find replacements capable of restoring investor confidence in the state-run oil company.

Thursday, February 5th 2015 - 03:26 UTC

Uruguay with Pope's blessing to try new approach to human rights and disappeared persons issues

The idea is to follow the South African experience based on Peace Nobel Prize Desmond Tutu, with “truth and memory” instead of “truth and justice”

Uruguay will be attempting a new approach to the human rights and disappeared persons issues, a still unfinished legacy from the military dictatorship, (1973/1984) and the decade of armed sedition which preceded the collapse of the country's democracy. The announcement is expected later this month and basically means replacing “truth and justice” for “truth and memory”, following to a certain extent the South African experience.

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