Brazil

Brazil
Tuesday, March 25th 2014 - 08:51 UTC

S&P downgrades Brazil’s sovereign debt rating to BBB minus

Bad news for Dilma Rousseff ahead of October's presidential election

Standard & Poor's cut Brazil's sovereign debt rating closer to speculative territory in a blow to President Dilma Rousseff administration. Brazil had its long-term debt rating downgraded to BBB minus, the agency's lowest investment-grade rating. S&P changed its outlook to stable from negative, meaning further downgrades are unlikely for now, which will come as a relief for both politicians in Brasilia and financial markets.The move was widely expected but the timing surprised some investors.

Sunday, March 23rd 2014 - 09:43 UTC

Federal troops to Rio do Janeiro to try and contain attacks against the police

With less than 90 days to the World Cup, the city of Rio seems unable to contain violence

The government in Brazil says it will send federal troops to Rio de Janeiro to help deal with a spate of violent attacks targeting the city's police. The decision came after the governor of Rio de Janeiro state, Sergio Cabral, asked President Dilma Rousseff for government support ahead of the football World Cup in June.

Saturday, March 22nd 2014 - 08:01 UTC

The Falklands/Malvinas: Brazil’s next regional headache?

When Foreign Secretary William Hague recently visited Brazil, the Falklands/Malvinas issue was not on the agenda, according to Stuenkel

By Oliver Stuenkel (*) - Brazil, foreign policy observers often point out, is blessed. Contrary to many other emerging powers such as China or India, it is located in a region that rarely experiences interstate tension or war. Not only can Brazil live on a relatively small defense budget, while India is the world's largest arms importer. Brazil can also dedicate considerable time and energy towards extending its global diplomatic reach without constantly being forced to deal with trouble in its neighborhood.

Saturday, March 22nd 2014 - 07:11 UTC

Falklands' prosperity and economic boom surprises visiting Brazilian delegation

Stuenkel admitted he was unaware of the economic blockade imposed by Argentina

Visiting Brazilian political advisor and environmentalist Eduardo Viola emphatically expressed support for the Falkland Islands’ right of self-determination during a press conference in Stanley with other visiting Brazilian colleagues, reports this week's edition of Penguin News.

Friday, March 21st 2014 - 08:36 UTC

Major corruption probe into Brazil's transport system providers

“The evidence collated shows that the alleged cartel was active on 15 projects” and over 4 billion dollars, according to CADE

Brazil's anti-monopolies commission announced on Thursday it had begun investigating allegations that transport providers, including several large international firms, had operated a price-rigging cartel for 15 years in major cities.

Thursday, March 20th 2014 - 06:57 UTC

Dilma Rousseff questioned on “flawed” report that cost Petrobras 1.2bn

At the time of the operation in 2006, the Brazilian president was chairwoman of Petrobras

A scandal surrounding the costly acquisition of a Texas oil refinery by Brazilian state-run energy company Petrobras years ago resurfaced Wednesday after new questions arose about President Dilma Rousseff’s handling of the deal, which involved a sum of 1.2bn dollars.

Tuesday, March 18th 2014 - 02:24 UTC

Brazil optimistic that Mercosur has reached a joint proposal for trade talks with the EU

Minister Borges was in Buenos Aires where a top level meeting of officials from the two countries was held

Mercosur will present a joint proposal to the European Union for a wide ranging trade agreement between the two blocks later this month, announced Brazil' Minister of Industry Mauro Borges, following a visit to Buenos Aires where he met with Economy minister Axel Kicillof and Industry minister Debora Giorgi.

Thursday, March 13th 2014 - 23:16 UTC

Inflation in Brazil edges up in February to an annualized 5.68%

Rising costs of school tuition was a decisive element in February

Inflation edged up in Brazil in February to hit an annualized rate of 5.68%, following a 0.69% monthly rise in February, national statistical office IBGE said Wednesday.

Thursday, March 13th 2014 - 08:20 UTC

Investment inflow in Brazil remain strong, says central banker Tombini

Portfolio and foreign direct investment reached 9.2bn in February, revealed Tombini

Investment inflows into Brazil remain “strong” so far in March, central bank president Alexandre Tombini said on Wednesday, adding that 9.2 billion dollars entered the country in the form of portfolio and foreign direct investments in February.

Wednesday, March 12th 2014 - 07:35 UTC

Manufacturing remains the weakest link of the Brazilian economy

The pharmaceutical and machinery sectors expanded in January

Industrial production in Brazil rose 2.9% in January from December, government statistics agency IBGE said on Tuesday led by a jump in capital goods production.

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