Brazil

Saturday, July 8th 2017 - 23:32 UTC
Brazil plans to overhaul power market to eliminate money losing subsidiaries

Brazil has announced plans to overhaul the power market which could lead to higher rates and rid the state controlled Electrobras utility of money losing subsidiaries.
Saturday, July 8th 2017 - 10:12 UTC
Canning House to host round table with UK ambassadors from Southern Cone

British Ambassadors to the Southern Cone countries, Argentina, Brazil, Uruguay and Chile will be attending Canning House to give round-table briefings on their experiences since their recent appointments to their respective posts. They will present the latest political, economic and business updates from those countries and answer any questions during the closed round-table session.
Saturday, July 8th 2017 - 09:41 UTC
Brazilian government prunes the corruption investigation “Operation Car Wash”

Brazil's federal police announced late Thursday that they are shutting down the primary task force assigned to a jumbo corruption investigation, drawing criticism from prosecutors who said it would undermine the probe. The investigation, known as “Operation Car Wash,” is Brazil's largest-ever corruption probe. It has jailed top politicians and business executives and led to allegations against President Michel Temer.
Friday, July 7th 2017 - 07:01 UTC
Temer's defense and allies working for a quick end to political uncertainty

Embattled Brazilian President Michel Temer quickly presented his legal defense against corruption allegations to lawmakers, a move seen as a bid to reduce the likelihood of being suspended from office and tried at the Supreme Court. Temer's lawyer submitted the defense on the second day of Chamber of Deputies commission proceedings to consider the matter, eight days ahead of deadline.
Thursday, July 6th 2017 - 19:16 UTC
Chinese company will exploit energy resources in Brazil

Petrobras announced that it signed a memorandum of understanding with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the deal will allow the two state oil companies to benefit from each other's capacity and experience in oil and gas production.
Thursday, July 6th 2017 - 10:17 UTC
Soybeans and corn record crops challenge Brazil's storage capacity

Brazilian farmers are discovering a serious obstacle to becoming one of the world’s top producers of soybeans: they’re running out of room to store all the unsold supply. The biggest harvest in the country’s history is poised to leave domestic inventories at a record, data from the processors’ group Abiove show.
Thursday, July 6th 2017 - 06:57 UTC
Brazilian plan to review purchase of Bolivian natural gas

Petrobras should cut the maximum amount of natural gas it buys from neighboring Bolivia in half in an effort to encourage domestic importers and distributors to enter the market, according to a Brazilian government study.
Thursday, July 6th 2017 - 06:42 UTC
Petrobras awards pipeline inspection services contract to Fugro and its new vessel

Netherlands Fugro has been awarded a further two-year contract by Petrobras to provide comprehensive inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil.
Wednesday, July 5th 2017 - 20:52 UTC
Brazilian industrial output grows for a second month during May

Industrial output in Brazil rose for a second straight month in May, government data showed on Tuesday, underpinning hopes that the economy will not fall back into recession despite an escalating political crisis.
Wednesday, July 5th 2017 - 08:29 UTC
Close ally of President Temer arrested on charges of corruption in state bank

Brazilian police have arrested a close ally of President Michel Temer as part of a corruption investigation into a government-controlled bank. Geddel Vieira Lima, a former cabinet minister, had been in charge of Temer's relations with Congress.