Brazil

Brazil
Thursday, August 6th 2015 - 03:47 UTC

Rio 2016: The greatest sport festivity in the heart of Brazil

On 5 August 2016, we will light with the Olympic flame, our passion for sport, and host the flag bearing the five interlocking rings

By Dilma Rousseff (*) - We are still one year away from it, but Brazil's heart is already beating faster.The generous Brazilian heart leaps up when confronted with two of its passions -- welcoming people from all over the world and competing with enthusiasm and fair play in a superb sport performance.

Wednesday, August 5th 2015 - 10:27 UTC

BG announces first oil with FPSO vessel, 240kms off Rio de Janeiro coast

Cidade de Itaguaí is a floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across BG's discoveries in Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the group's discoveries in the Santos Basin, offshore Brazil. The FPSO will produce from the Iracema North area of the Lula field in the Petrobras-operated BM-S-11 block.

Wednesday, August 5th 2015 - 08:36 UTC

Milestone for Peregrino field off Brazil: 100 million barrels of oil in four years

”We are pleased to have reached a major milestone in our Peregrino operations,” says Pål Eitrheim, country manager of Statoil Brazil.

After just four years in production, the Peregrino field in the Campos basin offshore Brazil has passed a significant milestone, with 100 million barrels of oil produced since April 2011. The field, jointly owned by Statoil and Chinese Sinochem, achieved the milestone on August 2.

Wednesday, August 5th 2015 - 07:08 UTC

“Shoot first, ask questions later”, the Rio do Janeiro military police procedure

Amnesty International launched on Monday statistics and analysis of police killings, ahead of the one-year countdown to the 2016 Rio Olympic Games.

Military police in Rio de Janeiro who seem to follow a “shoot first, ask questions later” strategy are contributing to a soaring homicide rate but are rarely investigated and brought to justice, Amnesty International said on Monday as it published exclusive statistics and analysis ahead of the one-year countdown to the 2016 Rio Olympic Games.

Tuesday, August 4th 2015 - 09:27 UTC

Bradesco buys HSBC operations in Brazil for 5.2bn dollars

The deal between Bradesco and Europe's largest bank includes the latter's Brazilian retail banking and insurance units.

Brazil's Banco Bradesco SA agreed to buy HSBC Holdings Plc's Brazilian unit for a surprisingly high 17.6 billion reais ($5.2 billion), narrowing the gap with larger rivals while boosting its base of affluent customers in Latin America's largest economy.

Tuesday, August 4th 2015 - 05:02 UTC

Lula da Silva's 'fund-raiser' Dirceu again involved: this time with Petrobras

Dirceu, popular former President Lula da Silva's chief of staff between 2003 and 2005, was already under house arrest for running a vote-buying scheme (Pic Reuter)

Brazilian police on Monday arrested former government minister Jose Dirceu, one of the most senior members of the ruling Workers' Party to be detained so far in a corruption scandal engulfing state-run oil company Petrobras.

Monday, August 3rd 2015 - 09:40 UTC

Brazilian currency at its weakest against the US dollar since March 2003

On Friday the US dollar broke the 3,40 Reais barrier for the first time since 20 March 2003. The Brazilian currency in the month of July lost 10.2%.

The Brazilian currency Real lost 1% at the end of trading on Friday and begins this week at 3.42 Reais to the US dollar, the lowest in twelve years, because of the political and economic uncertainties surrounding Latin America's largest economy.

Saturday, August 1st 2015 - 09:55 UTC

Brazil reports its worst half year primary deficit since 1997

Last week the government lowered its fiscal targets and this prompted ratings agency S&P to threaten to downgrade Brazil’s investment-grade rating.

The Brazilian government registered a primary deficit of $470 million (1.6 billion Real) in the first half of 2015, according to figures from the National Treasury release on Thursday, O Globo newspaper reported. The deficit is the worst result since 1997. In the same period last year, the government recorded a surplus of $5 billion (17 billion real).

Thursday, July 30th 2015 - 22:28 UTC

For the sixth straight time, Brazil raises interest rate 50 points to 14.25%

Copom said keeping rates at 14.25% level for a sufficiently long period of time was needed for inflation to converge to the target in late 2016.

Brazil's central bank raised interest rates to 14.25% from 13.75% as expected on Wednesday, delivering another hefty increase to stifle inflationary risks from a sharp depreciation of the local currency. This is the highest rate since October 2006.

Thursday, July 30th 2015 - 09:39 UTC

Brazil's agriculture minister optimistic about a Mercosur/EU trade accord by end of the year

“Mercosur is on the right track, countries of the region have virtually agreed on the proposals to exchange with the European Union”, said Ms Abreu

Brazil' minister of agriculture Katia Abreu said she was very optimistic about Mercosur reaching a trade agreement with the European Union, and if there are problems look to Europe, because Mercosur members have almost agreed and finished their proposal.

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