Brazil

Thursday, September 10th 2015 - 08:50 UTC
Business lobbies feeling the pinch, impatient with Rousseff's budget cuts

After months of trying to shore up Brazil's public finances, President Dilma Rousseff now faces political and business pressure to ease up on painful austerity measures in a country long hooked on the helping hand of a big state.
Thursday, September 10th 2015 - 08:33 UTC
Lula da Silva campaigns for Scioli and is full of praise for Cristina Fernandez and the 'K' model

Brazil's popular but scandal-weary former leader Lula da Silva endorsed Argentina's ruling party presidential candidate on Wednesday, identifying Daniel Scioli's credentials with the political left, and hoping the current project “that began in 2003 is re-elected”. The former president was also full of praise for president Cristina Fernandez.
Thursday, September 10th 2015 - 07:52 UTC
Brazil loses investment-grade credit rating, with outlook remaining negative

Standard & Poor's has stripped Brazil of its investment-grade credit rating, further hampering President Dilma Rousseff's efforts to regain market trust and pull Latin America's largest economy out of recession.
Wednesday, September 9th 2015 - 08:10 UTC
No end to Brazil's bad news: two consecutive years of recession ahead

Analysts expect Brazil's economy to contract by 2.44% this year, marking the worst performance since 1990, and inflation will hit 9.29%, the Central Bank said Tuesday. The latest figures represent a downward revision from last week, when analysts expected Latin America's largest economy to contract by 2.26% and inflation to come in at 9.28%.
Tuesday, September 8th 2015 - 08:54 UTC
Brazil confident it can stand 'first period of volatility' if Fed raises rates

Brazil is well prepared to cope with any market volatility resulting from a U.S. interest rate rise, Finance Minister Joaquim Levy said on Monday. The minister told a meeting in Madrid that Brazil's banks were well capitalized and the country has large foreign exchange reserves.
Tuesday, September 8th 2015 - 06:01 UTC
Rousseff leads Independence Day celebrations with tight security and no speech fearing pot banging

Brazilian Independence Day celebrations were marked Monday by the extra security surrounding President Dilma Rousseff during the ceremonies in Brasilia. Rousseff, in the official Rolls Royce with the top down and wearing the presidential ribbon, led the military parade for 2 kilometers before taking part in the program of events prepared by the armed forces.
Monday, September 7th 2015 - 10:09 UTC
Brazil's Lula da Silva supports Scioli as Argentina's next president

Former Brazilian head of state Lula da Silva joined the Argentine presidential electoral campaign and made public his support for the incumbent Daniel Scioli in the October dispute, stating that the Victory Front candidate would maintain strong relations with Brazil
Saturday, September 5th 2015 - 06:35 UTC
Rousseff is a 'fighter' but “no one can hold on for 3.5 years with a 70% disapproval rating”

Brazilian Vice President Michel Temer said it would be difficult for head of state Dilma Rousseff to last until the scheduled end of her second presidential term in 2018 without a rise in her approval rating, which currently stands at just 8%, the local press reported Friday.
Friday, September 4th 2015 - 09:00 UTC
First oil production off Rio de Janeiro with FPSO 'Cidade de Itaguai', five months ahead of schedule

MODEC Inc. announced on Thursday that its FPSO 'Cidade de Itaguai MV26', operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.
Thursday, September 3rd 2015 - 10:29 UTC
Brazil's central bank leaves basic interest rate unchanged at 14.25%

Brazil's central bank halted one of the world's boldest rate-hiking cycles on Wednesday, taking pressure off an economy struggling with recession even amid concerns that a looming budget crisis could stoke inflation.