Brazil

Brazil
Thursday, February 26th 2015 - 04:48 UTC

Rousseff lashes out at Moody's for downgrading Petrobras debt to junk-bonds

“It's a lack of knowledge about what's happening at Petrobras. I have no doubt this is a company with a great ability to recover without major consequences”

Brazilian President Dilma Rousseff on Wednesday said credit rating agency Moody's Investors Service downgraded state-controlled oil giant Petrobras' debt to junk-bond territory due to ignorance of the company's situation.

Thursday, February 26th 2015 - 04:14 UTC

Brazilian lawmaker wants closer ties with 'Falklands' and even considers 'a friendship forum'

Celso Maldaner belongs to the strongest electoral party in Brazil and main ally of the ruling coalition headed by president Rousseff

Brazilian federal Deputy for the southern state of Santa Catarina Celso Maldaner who last week visited the Falkland Islands said he wants to 'influence and push' for a commercial opening of Brazil with the Islands, since he believes there is great potential for making business particularly regarding fisheries and tourism.

Wednesday, February 25th 2015 - 04:23 UTC

HSBC singles Brazil, Mexico and U.S. as 'problem areas': 12/24 months to prove their worth

By assets HSBC is seventh-largest bank in Brazil; fifth-largest in Mexico and 12th-largest in the U.S. But in terms of profits they are dwarfed by Asia.

HSBC singled out three large markets in the Americas, Brazil, Mexico and the U.S., as problem areas in which its businesses need to shape up or face restructuring, including possible asset sales. “We're talking of 12 to 24 months”.

Tuesday, February 24th 2015 - 04:46 UTC

Brazil expects to bolster growth with fiscal discipline starting 2016

Levy said the government will roll back countercyclical measures, in a bid to improve Brazil's public finances, despite fears of a contraction this year.

Brazil needs to act quickly to stabilize its finances and get rid of measures used to stimulate growth during the global downturn in order to bolster expansion in 2016, Finance Minister Joaquim Levy said on Monday.

Friday, February 20th 2015 - 07:44 UTC

Beija-Flor, the top samba group this year in Rio's Carnival, but who's behind?

In an emailed statement, Beija-Flor insisted its parade theme this year was ”strictly cultural and does not address (Equatorial Guinea's) government”.

The Beija-Flor samba group was declared the champion of Rio de Janeiro's hotly contested Brazilian Carnival parade competition on Wednesday. However the group stoked controversy by staging a presentation focusing on Equatorial Guinea, run by Africa's longest-ruling dictator, Teodoro Obiang Nguema Mbasogo.

Thursday, February 19th 2015 - 05:23 UTC

Levy tells US investors Brazil is on track to correct the fiscal slippage

“We are just taking these anti-cyclical measures away, and this will put us on better footing,” Levy said in his first public address to investors in the US

The government of President Dilma Rousseff is working to meet its primary budget surplus goal of 1.2% of GDP in 2015, pledged Finance minister Joaquim Levy on Wednesday to an audience of investors in New York.

Wednesday, February 18th 2015 - 04:05 UTC

Web-campaign to impeach Rousseff gains ground with 2million e-petitions

Polls show 44% of Brazilians say Rousseff is doing a “bad” or “very bad” job, while 77% of interviews believe Rousseff was aware of Petrobras corruption.

Calls are growing in Brazil to impeach President Dilma Rousseff over a multi-billion dollar corruption scandal involving the state-run oil giant Petrobras. While the country celebrates its annual Carnival, with the 2015 Samba Competition wrapping up in Rio de Janeiro, there has been a growing clamor on the web and in the streets, with millions of Brazilians asking for the impeachment of their president.

Wednesday, February 18th 2015 - 03:56 UTC

Brazil's corn and soybean crops flattening out influenced by climate conditions

Conab said that the forecast of a “slight reduction” in safrinha corn sowings reflected the knock-on effects of the delayed soybean sowing season

Brazil's sowings of safrinha corn are to fall for the first time in seven years, Conab (National Supply Co.) said, cutting its forecast for the country's overall production of the grain, and lowering hopes for the soybean harvest too.

Tuesday, February 17th 2015 - 05:13 UTC

Brazil and Argentina agree accords signed with China will not affect Mercosur

Vieira and his Argentine counterpart Timerman during the recent visit to Buenos Aires

Brazilian foreign minister Mauro Vieira discarded that the recent agreements reached by Argentina with China can interfere with Mercosur, while his Argentine counterpart Hector Timerman said that the package of accords with Beijing will “actually benefit Mercosur”.

Tuesday, February 17th 2015 - 05:09 UTC

Rolls-Royce allegedly caught in the Petrobras bribery scandal

Court documents show that Pedro Barusco, a Petrobras informants, received at least $200,000 in bribes from RR which makes gas turbines for Petrobras rigs

Rolls-Royce has said it does not “tolerate improper business” after the Financial Times reported that the firm had been accused of being caught up in a bribery scandal in Brazil. Ft reported allegations that the company paid bribes for a contract with Brazilian oil firm Petrobras.

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