Sunday, October 18th 2015 - 07:27 UTC

Rousseff's reelection campaign alleged irregularities, investigated by federal police

The probe opened on 7 Oct, on a decision by Superior Electoral Court Justice Gilmar Mendes

Brazil's federal police have opened a preliminary investigation into alleged irregularities in President Dilma Rousseff's re-election campaign last year. According to the media office of the federal police, the probe was opened on 7 October, following a decision by Justice Gilmar Mendes from the Superior Electoral Court to look into allegations of wrongdoing by the Rousseff campaign.

Saturday, October 17th 2015 - 06:43 UTC

“Rousseff has broken the law and must step down”, says top Brazilian lawyer

After breaking with the populist party a decade ago, Bicudo is today one of the most visible faces in the growing movement to depose Rousseff.

President Dilma Rousseff has broken the law and must step down so that Brazil can recover its legal bearings, the author of a key impeachment petition said. Helio Bicudo, a 93-year-old lawyer who was a high-ranking member of Rousseff's ruling Workers' Party, said in an interview that Brazil must return to “the rule of law.”

Saturday, October 17th 2015 - 06:30 UTC

Lula da Silva questioned for 90 minutes on allegations of influence peddling

In a statement, the Instituto Lula da Silva said the former president voluntarily appeared for 90 minutes at the federal public prosecutor's office in Brasilia.

Brazilian ex-President Lula da Silva, who allegedly used his influence to aid a leading domestic engineering group after leaving office, voluntarily testified on Thursday before federal prosecutors during an hour and a half, his foundation said.

Saturday, October 17th 2015 - 06:24 UTC

Brazil's Finance Levy minister “has not resigned and will stay in his post”

Levy, in the job since January, has struggled to push austerity proposals through Brazil's Congress but has faced position inside Rousseff's cabinet team.

Finance Minister Joaquim Levy has not resigned and will stay in his post, Brazil's government said on Friday, denying a media report that he planned to step down in a dispute over austerity measures. A finance ministry spokeswoman told reporters that Levy “continues to work and is committed to improve the country's future.”

Friday, October 16th 2015 - 07:43 UTC

Fitch cuts Brazil's credit rating to the brink of junk; “terrible” news says government

Fitch cut Brazil's rating to BBB-minus from BBB, with negative outlook on the new rating, suggesting it could downgrade Brazil to junk within the next year

Fitch Ratings cut Brazil's credit rating to the brink of junk, warning the country could soon lose its coveted investment grade rating as government finances deteriorate amid a prolonged recession and persistent political uncertainty.

Friday, October 16th 2015 - 07:35 UTC

Petrobras strikes further discovery at giant pre-salt Libra field in Santos basin

The first exploration well, 3-RJS-731, was spud by the Schahin Cerrado drillship in August 2014, just 5km southwest of the discovery well 2-ANP-2A-RJS.

Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The company said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir. This is the fourth well drilled in the Libra area since exploratory drilling began last August.

Thursday, October 15th 2015 - 07:27 UTC

Rousseff accused the opposition of a 'deliberate coup-mongering'

Rousseff said the opposition was practising “deliberate coup-mongering” against a “project that has successfully lifted millions of Brazilians out of poverty”.

Brazilian President Dilma Rousseff has accused her opponents of trying to overthrow a democratically elected government by seeking to oust her without any material facts while spreading hatred and intolerance across the country.

Wednesday, October 14th 2015 - 08:01 UTC

China to the rescue of cash strapped Petrobras with $2bn for a 10-year lease of two platforms

Petrobras will lease the platforms P-52 and P-57 for 10 years as part of efforts to raise cash and reduce the world's biggest debt load among oil firms.

Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement on Tuesday.

Wednesday, October 14th 2015 - 07:37 UTC

Brazil's Supreme Court gives Rousseff a break in her battle to avoid impeachment

Brazil's highest court ruled against lower house speaker Eduardo Cunha -- the man with the power to trigger impeachment -- on procedural questions.

Brazilian President Dilma Rousseff won a temporary reprieve on Tuesday from threatened impeachment thanks to a Supreme Court intervention and her principal opponent's decision to hold off for now on opening proceedings.

Tuesday, October 13th 2015 - 07:13 UTC

Pacific Alliance members outstand in Latin American performance, says IMF

“Compared to 15 years ago, the region has changed for the better. It is now standing on much more solid ground,” Lagarde said

Brazil is still by far the largest economy in Latin America despite its recession and the impact of the devaluation of the Real, according to the latest report from the International Monetary Fund (IMF), which said Venezuela dropped to the position of the region’s seventh-largest economy with a GDP that’s now half the size of Colombia’s.


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