Brazil

Brazil
Friday, September 2nd 2016 - 15:01 UTC

Brazil reacts to Maduro's statements and calls its ambassador in Caracas

Brazil's Ministry of Foreign Affairs said that Venezuela's attitude “is conspicuously against the principles and objectives of the Latin American integration.”

The impeachment process that led to the removal of Dilma Rousseff from office on Wednesday, August 31, increased the gap among the continent's governments. While the U.S. said that the definite ousting of the now-former president of Brazil followed constitutional proceedings, the so-called Bolivarian governments – Venezuela, Ecuador and Bolivia – reacted by calling their ambassadors back.

Thursday, September 1st 2016 - 23:29 UTC

Uruguay's Home Secretary questions the legitimacy of Temer, and calls removal of Rousseff, a “coup”

Bonomi made the statement to a Montevideo radio station when asked specifically if he considered the destitution of Rousseff a coup, he replied, “I believe so”.

Uruguay's Home Secretary Eduardo Bonomi described the removal of Brazilian ex president Dilma Rousseff as a “coup” and underlined her successor Michel Temer “has no legitimacy” to occupy the Executive. He added that the events of this week in Brazil have had an impact on Brazilian democracy and the region overall.

Thursday, September 1st 2016 - 11:04 UTC

Argentina recognizes Brazil's institutional process and president Temer

The foreign ministry release referred to the removal by the Brazilian Senate of suspended president Dilma Rousseff

The Argentine government expressed on Wednesday respect for Brazil's institutional process and iterated its willingness to continue advancing toward a real and effective integration based on respect for human rights, democratic institutions and International law.

Thursday, September 1st 2016 - 10:29 UTC

Venezuela, Ecuador and Bolivia freeze relations with Brazil in support of Rousseff

Ecuadoran President Rafael Correa called the senate vote impeaching Rousseff “an apology for abuse and treason.”

Venezuela on Wednesday withdrew its ambassador from Brazil and froze ties in response to president Dilma Rousseff's removal from office.

Thursday, September 1st 2016 - 10:02 UTC

Brazil central bank keeps rates unchanged for the ninth straight time

Copom “judges that a loosening of monetary conditions will depend on factors that allow greater confidence on meeting the inflation targets”

Brazil's central bank kept interest rates at a decade high for the ninth straight time on Wednesday, but did not discard a cut rate later this year if stubbornly high inflation subsides. In a unanimous vote, the bank's monetary policy committee, Copom, kept its benchmark Selic rate at 14.25%, its highest since July 2006.

Thursday, September 1st 2016 - 07:21 UTC

Temer promises “new era” and warns he will not tolerate divisions in the ruling coalition

Speaking at a televised cabinet meeting after taking the oath of office, Temer said his priorities were to fix Brazil's economy and attract foreign investment

Brazil's new president, Michel Temer, promised a “new era” of government for the crisis-hit country Wednesday, shortly after being sworn in following the impeachment of his predecessor, Dilma Rousseff. Earlier, the Brazilian senate voted 61-20 to remove Rousseff from office for breaking federal budget laws.

Wednesday, August 31st 2016 - 20:29 UTC

Brazil's political system confirms President Temer, removes 'outsider' Rousseff

The Senate voted 61 to 20 the “foretold death” conviction of Rousseff on charges of manipulating the budget in an effort to conceal mounting economic problems.

The Brazilian Senate on Wednesday midday impeached suspended president Dilma Rousseff, and removed her from office for the rest of her term, ending a power struggle that has consumed the nation for months but has not solved any of its mounting problems, rather the contrary. Vice-president and interim president Michel Temer will formally replace the first woman president of the country.

Wednesday, August 31st 2016 - 05:03 UTC

Norway's Statoil and Petrobras expand strategic alliance and cooperation

The agreement was signed by Petrobras’ president and CEO, Pedro Parente, and Statoil’s CEO, Eldar Sætre, during the ONS 2016 conference in Stavanger.

Norways' StatOil and Petrobras have signed a memo of understanding to strengthen their cooperation in Brazil. The two major companies are are already partners in 13 blocks and the intention of the MoU is to evaluate joint participation in future tenders for exploration areas and to increase upstream collaboration in producing fields in the Santos and Campos offshore basins.

Wednesday, August 31st 2016 - 04:56 UTC

Brazil's unemployment reaches 11.6% with an estimated 11.8 million jobless

More than 1.7 million Brazilians have lost their jobs over the last 12 months, according to Labor Ministry data

Brazil's unemployment rate rose to 11.6% in the three months through July the statistics agency IBGE said on Tuesday. Brazil's jobless rate has risen sharply from 6.5% at the end of 2014 as the country entered its worst recession in decades.

Wednesday, August 31st 2016 - 03:43 UTC

Rousseff's fate has been decided: Senate will make it formal on Wednesday

Supreme Court Chief Justice Ricardo Lewandowski is presiding over the session, and following a recess, the decision will be handed down.

The Brazilian Senate heard for the last time on Tuesday the arguments of the defense and prosecution in the impeachment trial of President Dilma Rousseff, and now prepares to issue its decision on the case.

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