Brazil's central bank unexpectedly left its benchmark interest rate unchanged on Wednesday, citing a more challenging and volatile situation in world economies. The bank left its benchmark Selic rate at an all-time low of 6.5%, after signaling at its previous meeting it would cut at least once more.
Antonio Hamilton Mourao, a reserve general in Brazil’s military, has joined the Brazilian Labour Party (PRTB) days before the deadline, which would allow him to run for president in the October’s general elections. His registration was made public Wednesday, shortly after presidential hopeful Joaquim Barbosa confirmed that he would not be a candidate in the election.
Brazil will surpass the United States as the largest producer of soybeans this year, taking over the top ranking for the first time in history, oilseeds crusher group Abiove said on Friday. The U.S. is expected to harvest 116.48 million tons of soybeans later on in 2018, falling short of Brazil’s estimated collection of 117 million tons for its crop year that is just drawing to a close, Abiove said, citing United States Department of Agriculture figures released on Thursday.
The president under Brazil's military dictatorship in the 1970s personally authorized executions of subversives, according to a declassified CIA document published on Friday in the Brazilian media. President Ernesto Geisel ruled Brazil from 1974 to 1979, toward the end of the country's two decade long military dictatorship.
South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.
Brazil's former President Luiz Inacio Lula da Silva reiterated on Thursday his intention to run for a third presidential term. Lula was jailed on April 7 and is serving a sentence of 12 years and one month for corruption and money laundering.
Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.
Paraguayan authorizes have issued an arrest warrant for a man President Horacio Cartes has described as his soul brother as part of a sweeping investigation into corruption in Latin America.
Swedish Prime Minister Stefan Lofven has been summoned to testify next month as a witness in a Brazilian corruption case involving the purchase of fighter jets by Brazil, the Stockholm District Court said on Wednesday. Lofven will be asked in a Swedish court about his contacts with Brazil’s former presidents Dilma Rousseff and Lula da Silva regarding the country’s purchase of Saab Gripen fighters in a deal struck five years ago.
Joaquim Barbosa, a former chief justice on Brazil's Supreme Court with anti-corruption credentials, said on Tuesday he would not run for the presidency in October, despite a growing clamor for his candidacy. Barbosa, the first and only black member of the high court, had in recent weeks positioned himself as a potential center-left candidate. He was attractive to many because of his clean image and background as a judge who battled corruption.