Saturday, October 31st 2015 - 09:40 UTC

UK and Brazil committed to exchange of EU/Mercosur market access offers by end of 2015

JETCO meeting was headed by Sajid Javid, UK Secretary of State for Business, Innovation and Skills, and his Brazil counterpart Armando Monteiro (L)

The United Kingdom and Brazil reaffirmed on Friday their support for the success of the European Union/Mercosur Association agreement negotiations in the framework of the eighth meeting of the UK-Brazil Joint Economic and Trade Committee (JETCO) which emphasizes bilateral cooperation and initiatives.

Saturday, October 31st 2015 - 06:42 UTC

Unemployment in recession-hit Brazil climbing: 8.8 million looking for jobs

The number of jobless workers went up 1.21 million in one year, which puts the total number of people seeking employment at 8.8 million

Unemployment in recession deep Brazil climbed to 8.7% of active population in the quarter ending last August, the government said Thursday. The indicator shows a steep hike from the 6.9% recorded in August 2014, according to statistics of the National Study of Households (PNAD), published by the state Brazilian Institute for Geography and Statistics (IBGE).

Thursday, October 29th 2015 - 06:53 UTC

On Amazon Day, Minister Swire praises Brazil as champion on climate change and tackling deforestation

Remarkably Brazil has reduced over 85% of its forestry emissions over the last decade - and cut Amazon deforestation rates by 82% over the same period.

Describing Brazil as a valued partner of Britain, and champion on climate change and tackling deforestation, Minister of State for Latin America, Hugo Swire, attended on Wednesday the Amazon Day 2015 at the Brazilian embassy where he also met with ministers Texeira, Levy and Coutinho who are in London for the first UK-Brazil economic and financial dialogue round.

Tuesday, October 27th 2015 - 07:43 UTC

Japanese company acquires part of Petrobras gas distribution unit

Through Mitsui Gas, Mitsui is set to acquire 49% of shares in Gaspetro which has equity stakes in local gas distribution companies in 19 Brazilian states.

Japan-based Mitsui has signed an agreement with Petrobras for partial acquisition of shares in the latter's natural gas distribution unit Petrobras Gás (Gaspetro) for about R$1.9bn ($489m).

Tuesday, October 27th 2015 - 07:30 UTC

Son of Lula da Silva's offices raided as part of investigation into tax fraud

The company LFT Marketing Esportivo belongs to Luis Claudio Lula da Silva, son of the former Brazilian president from 2003 to 2010.

Brazilian police on Monday raided the offices of a company belonging to a son of former president Lula da Silva as part of an investigation into tax fraud. The raid was part of a broader operation involving about 100 agents who descended on offices in the cities of Sao Paulo, Piaui and Maranho armed with arrest warrants and orders to seize documents and accounting records.

Friday, October 23rd 2015 - 08:30 UTC

Rousseff admits massive budget deficit this year; estimates are of 9% of GDP

Chief of staff Jaques Wagner admitted a record massive shortfall this year as a deepening economic and political crisis drags on revenues

Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday. Brazil's overall budget deficit has soared to 9% of GDP, according to estimates.

Friday, October 23rd 2015 - 08:22 UTC

Dutch company and Brazil negotiating a $250m Petrobras bribery settlement

Brazil has given SBM several days to sign a leniency deal that includes financial reparation and other clauses such as cooperation with corruption investigation.

Brazil told Dutch SBM Offshore NV, the world's top oil production ship leaser, to agree soon to a $250 million bribery settlement if it wants to regain its biggest client in the world's largest oil-ship market, according to media reports from Brasilia and Sao Paulo.

Thursday, October 22nd 2015 - 07:26 UTC

Brazil's opposition files new impeachment petition against Rousseff

“We are confident that the lower house speaker (Cunha) now has all the elements he needs to accept an impeachment process”, said Sampaio

Brazil's opposition filed a new impeachment petition against President Dilma Rousseff on Wednesday, accusing her of illegal accounting practices. The much-anticipated petition, whose authors include a founder of Rousseff's Workers' Party, was handed over to congressional lower house speaker Eduardo Cunha.

Thursday, October 22nd 2015 - 07:09 UTC

Brazil leaves Selic rate unchanged at 14.25%; inflation the target but with no timetable

The bank it was focused “on the horizon relevant for monetary policy” and Copom will remain vigilant to achieve that objective”

Brazil's central bank kept interest rates on hold on Wednesday, for a second straight month despite a jump in inflation expectations. The decision not to raise rates will give a breather to President Dilma Rousseff, who is fighting for her political survival amid the country's worst economic and political crisis in 25 years.

Monday, October 19th 2015 - 07:11 UTC

Economic activity in Brazil plunges 4.47% in the last twelve months to August

The Brazilian central bank’s IBC-Br economic activity index, a gauge of activity in the farming, industry and services sectors, fell 0.76% in August from July

Economic activity in Brazil fell for a third straight month in August, Central Bank data showed, adding to evidence of a steeper-than-expected recession in the country. The figures were unveiled on the same day the government dismissed rumors over the resignation of Finance Minister Joaquim Levy.


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