Brazil

Brazil
Monday, May 9th 2016 - 09:04 UTC

Brazilian prosecutors after another can of worms: the huge development bank

Folha de S.Paulo cited Marcelo Odebrecht testimony, the jailed former CEO of the Odebrecht conglomerate, who is trying to broker a deal to become a state's witness.

A former Brazilian finance minister and the current head of the nation's state economic and social development bank allegedly pressured big construction firms into making campaign donations for President Dilma Rousseff, a newspaper reported on Sunday. If it proves correct it would be the first concrete lead linking the Petrobras corruption with BNDES, long suspected by Brazilian prosecution.

Saturday, May 7th 2016 - 00:08 UTC

A Temer government would allow full foreign control of Brazilian airlines

 Moreira Franco, economic adviser and a former aviation minister, said relaxing the current limits on foreign ownership would help bolster competition in the industry

A Brazilian government led by Vice-President Michel Temer would consider allowing foreign owners to acquire a controlling stake in local airlines, one of his closest aides revealed. Wellington Moreira Franco, a chief economic adviser for Temer and a former aviation minister, said relaxing the current limits on foreign ownership would help bolster competition in an industry suffering its worst crisis in decades.

Friday, May 6th 2016 - 08:22 UTC

Brazil's Lower House speaker removed by the Supreme Court on justice obstruction

The removal of Eduardo Cunha, one of Brazil's most divisive public figures, was the latest in a series of political earthquakes

Brazil's Supreme Court removed the speaker of the lower house of Congress on Thursday on charges of obstructing a corruption investigation, days before an impeachment process that he engineered was expected to oust President Dilma Rousseff.

Friday, May 6th 2016 - 08:07 UTC

Folha exposes Rousseff's 'exit with dignity' next week and plans for a comeback strategy

On May 12, Rousseff will leave the presidential Planalto Palace descending by the main ramp accompanied by ministers, advisors, to a crowd of supporters

President Dilma Rousseff laid out the details last Monday for what she calls her “bunker of resistance”: a team of advisors to be installed in the Alvorada Palace next week. It will have a maximum of 15 members, according to a report to one of the main dailies, Folha de Sao Paulo.

Thursday, May 5th 2016 - 11:27 UTC

Petrobras sells stakes in Argentina and Chile, part of major divestment plan

Petrobras sold to Pampa Energia the 67.19% stake in PESA, but excludes two major gas formations in Neuquén (Argentina) and Bolivia

Brazil’s state-run oil firm Petrobras said it has concluded the sale of its 67.2% stake in Petrobras Argentina to Argentina’s Pampa Energía for US$ 892 million, according to a securities filing. Petrobras also sold all of Petrobras Chile Distribución to Southern Cross Group for about US$ 490 million as part of its divestment program, the company said.

Thursday, May 5th 2016 - 07:30 UTC

Senate impeachment committee votes on Friday on Rousseff's political future

The 126-page report by Sen. Antonio Anastasia has been uploaded to the Senate's Web site and has already been read to the full 21-member committee

The rapporteur of a Senate committee on impeachment issued a report Wednesday recommending that Brazilian President Dilma Rousseff be tried in the upper house for allegedly breaking budget laws.

Wednesday, May 4th 2016 - 08:46 UTC

Attorney General accuses Lula da Silva of a key role in Petrobras huge corruption scandal

Janot said corruption could not have taken place without the participation of the former leader. Lula was in office between 2003 and 2011, and denies allegations.

Brazil's Attorney General Rodrigo Janot has asked the Supreme Court to authorize an investigation against former President Lula da Silva for alleged corruption. Janot accused Lula of playing a key role in the huge corruption scandal at the state oil company, Petrobras.

Wednesday, May 4th 2016 - 08:18 UTC

Brazilian prosecution asks for investigation of opposition leader Senator Neves

Prosecutor-General Janot had stopped the investigation of Neves last year but is now asking to reopen it based on plea bargain testimony from another senator

Brazil’s top prosecutor asked the Supreme Court to open an investigation into opposition Senator Aécio Neves, the country’s leading opposition figure, as the vast Petrobras corruption probe engulfed more politicians. Neves, who narrowly lost the 2014 presidential election to Dilma Rousseff, was previously included in a list of some 50 politicians thought to have taken bribes originating from state-run companies.

Tuesday, May 3rd 2016 - 06:54 UTC

Brazil recession deepens, but prospects for 2017 seem much brighter

The consensus is now suggesting Brazil’s economy will shrink by 3.89% this year, following last year’s 3.8% contraction, which was the worst in 25 years.

Brazil’s recession is expected to deepen this year as economists brace for an even steeper contraction than in 2015. Economists have downgraded their 2016 outlook for Latin America’s largest economy for the 15th week in a row, according to the weekly Focus survey of about 100 economists by the Brazilian central bank.

Monday, May 2nd 2016 - 11:54 UTC

Temer anticipates support of constitutional reform, and would step down in 2018

Many political analysts believe these are messages to attract the support of the PSDB, the main opposition party under the leadership of Aecio Neves

Vice-president Michel Temer patiently preparing a coalition and a basic program if Dilma Rousseff is finally impeached said he will not be standing as a candidate for Presidency in 2018. Furthermore, he said he will support the proposal to end presidential re-election in Brazil.

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