From 6 am till Tuesday midnight, according to Inumet. Montevideo, Colonia and other key cities are code yellow. Some experts also speak of tornadoes.The Mayor of Maldonado, Enrique Antia, moved to Piriápolis to see first hand the consequences left by the squall that reached 180 kilometers per hour on Monday, and affected several parts of the city.
Marcelo Crivella on Sunday won the mayor's race in Rio de Janeiro, beating leftist Marcelo Freixo by a wide margin. Crivella, with the Brazilian Republican party, garnered 59.35% of the votes to 40.65% for Freixo, who is with the Socialism and Freedom Party.
Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.
Brazilian President Michel Temer won another victory on Tuesday in his efforts to restore fiscal discipline when the lower house of Congress approved a constitutional amendment to cap spending for 20 years. Heavy public spending, a recession and a massive corruption scandal rocking Brazil's political establishment undermined confidence in Latin America's largest economy.
President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would create new jobs and provide a new boost to investment in the sector, Temer said in an address at the opening of the Rio Oil and Gas conference.
Brazil's Petrobras and France's Total oil companies announced on Monday a strategic alliance Monday for upstream and downstream projects as President Michel Temer pronounced Brazil's troubled economy reopened for business.
Authorities say they have arrested four Congressional police agents posted inside Brazil's Senate for allegedly obstructing an investigation into lawmakers' suspected involvement in the corruption-kickback scheme at state-owned oil company Petrobras. Federal police said in a statement that those arrested Friday include Pedro Carvalho, head of the Senate police, which is a distinct agency.
Argentina’s international currency reserves rose above the landmark US$40 billion for the first time in three and a half years last Friday, as a huge inflow of dollars from government-issued debt and some exports over the last few days caused some dramatic increases this week. The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”
Brazil’s national development bank has frozen $13.5bn of funds for 47 overseas projects, including those in Angola, Mozambique, Cuba and the Dominican Republic, as yet more corruption charges are brought against politicians and executives arising from the Lava Jato corruption probe.
Brazil's central bank cut its key interest rate for the first time in more than three years on Wednesday as a new center-right government's reforms fuel hopes of a recovery in Latin America's largest economy. The bank lowered the benchmark Selic rate by 0.25 points, to 14%, still one of the world's highest, and cited a dip in inflation and forecasts that a long recession -- Brazil's worst in a century -- is nearing its end.