Brazil

Brazil
Tuesday, July 7th 2015 - 06:23 UTC

'Impeachment' and 'fresh elections' in Brazil's congressional debate

”With only one digit of approval, abandoned by the ruling Workers Party and by Lula who now can't stand her, Dilma will be forced to ask for the 'bill'.

Brazil's leading political commentator and O Globo columnist, Ricardo Noblat is forecasting that president Dilma Rousseff will not conclude her four-year mandate and could very well be out of office by next October.

Monday, July 6th 2015 - 14:59 UTC

PetroRio buys Petrobras 20% concession in Bijupirá and Salema oil and gas fields

These fields are located in the Campos Basin, between 480 and 850 meters depth. Daily production averages 22 thousand barrels of oil

Brazil's oil and gas corporation Petrobras on Friday signed with PetroRio S.A. (‘PetroRio’) the contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell. The transaction amounts to US$ 25 million and is subject to adjustments that are common to this type of operation.

Friday, July 3rd 2015 - 12:43 UTC

JBS buys UK's Moy Park for $1.5bn from rival Mafrig Global Foods

Moy Park, the largest producer of poultry in the UK, will give JBS access to affluent markets in Britain, Scandinavia and other European countries

Brazil’s JBS, the world’s largest meat packer, has agreed to pay about $1.5 billion for Moy Park, the British unit of rival Mafrig Global Foods. JBS, which has undertaken a massive overseas expansion since 2007, will pay $1.19 billion in cash and will assume Moy Park’s debt totaling £200 million as part of the deal, Marfrig said in a statement.

Friday, July 3rd 2015 - 09:04 UTC

Rousseff enjoys a day at 'Google-land' before returning to real life in Brazil

Dilma met with Google executive chairman Eric Schmidt, who showed off one of the company's self-driving cars before sending her on a test drive.

Brazil's President Dilma Rousseff capped off her U.S. tour on Wednesday with a visit to Silicon Valley, where she met with top technology executives and took a ride in Google Inc's self-driving car. Rousseff used her visit to strengthen ties with U.S. technology companies after visiting Washington, D.C. and New York City earlier in the week.

Friday, July 3rd 2015 - 07:12 UTC

Petrobras investigation looks into corruption by a dozen foreign companies

Zelada, head of Petrobras international division 2008/2012, appeared to have received bribes on a contract with US companies

Brazilian police on Thursday arrested Jorge Zelada, former director of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, prosecutors have said. Zelada is suspected of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud.

Thursday, July 2nd 2015 - 06:04 UTC

Brazil's budget during May back in the red; Congress restless about austerity

A drop in tax revenues caused by a sharp economic contraction is complicating minister Levy's efforts to shore up the country's finances

Brazil reported a primary budget deficit for May that was its widest for 2015, making its annual savings goal more difficult to achieve despite government efforts to raise taxes and cut spending. Central bank data showed a primary budget deficit of 6.9 billion Reais ($2.23 billion). This compared with a primary surplus of 13.445 billion Reais in April.

Wednesday, July 1st 2015 - 05:52 UTC

Obama and Rousseff agree their nations are 'natural partners' and working on an 'upward trajectory'

“I believe that this visit marks one more step in a new more ambitious chapter in the relations between our countries,” Obama said.

President Barack Obama and visiting Brazilian President Dilma Rousseff sought Tuesday to cast their nations as “natural partners” collaborating closely on critical issues like climate and regional diplomacy, glossing over recent tensions over spying that have strained relations between the first and seventh world economies.

Wednesday, July 1st 2015 - 03:26 UTC

Brazil celebrates the opening of the US market for its fresh beef

Brazil expects to export 100,000 tons of beef to the US in the next five years. Abreu said the decision is like “getting a pass code” to access other markets.

U.S. Department of Agriculture's Animal and Plant Health Inspection Service announced Monday that it is amending its regulations to allow imports of fresh (chilled or frozen) beef from (Argentina) and 14 states in Brazil. It's “the first step in a process for these regions to gain access to the U.S. market for beef”, the APHIS said in a statement.

Tuesday, June 30th 2015 - 06:14 UTC

Petrobras drastically cuts investment by 37% in next five years

“The investment portfolio will give priority to petroleum exploration and production projects in Brazil, with the emphasis on the pre-salt”

State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.

Monday, June 29th 2015 - 06:08 UTC

Loathed at home, Dilma Rousseff tries to rebuild image among US investors

Rousseff, who arrived Saturday, kicked off her US visit by meeting Sunday in New York with a group of about 20 Brazilian business leaders.

Brazil's President Dilma Rousseff met Sunday with investors in New York on the first day of a long-delayed US visit aimed at overcoming strains caused by the NSA spying scandal. Revelations two years ago that the US National Security Agency electronically eavesdropped on Rousseff's email and other communications prompted her to angrily call off an official visit to Washington that had been set for October 2013.

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