Brazil

Brazil
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.

Wednesday, February 4th 2015 - 09:17 UTC

Brazil's industrial production contracted sharply in 2014, worst year since 2009

Consumer confidence plunged in January to the lowest level since the data series began, while Brazilian industrial confidence remains near historic lows.

Brazil’s industrial production contracted sharply in December and finished last year with its steepest decline since 2009, as rising interest rates, weak demand and waning confidence from consumers and businesses weighed on output.

Wednesday, February 4th 2015 - 09:09 UTC

Petrobras shares soar 15% ahead of CEO's and senior managers removal

The President tried to keep Foster (R), a close friend, in command of the company as much as possible, even the CEO had filed her resignation on several occasions

Brazilian President Dilma Rousseff will replace the chief executive and other senior managers at state-run oil company Petrobras later this month in an effort to turn the page on the widening corruption scandal. Petrobras shares jumped more than 15%, their biggest one-day gain in 16 years, after Folha do Sao Paulo first reported that Rousseff intended to replace CEO Maria das Graças Foster.

Tuesday, February 3rd 2015 - 06:49 UTC

Brazil's nominal budget deficit far worse than expected, 6.7% of GDP

President Rousseff projected a primary surplus of 3.88bn in 2014, but was forced to amend the budget law late last year

Brazil's federal, state and local governments ended 2014 with a cumulative primary budget deficit equivalent to 12.51 billion dollars putting public finances in the red for the first time since the current reporting methodology was adopted in 2001, the Central Bank announced.

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