MercoPress, en Español

Montevideo, December 9th 2016 - 11:34 UTC

Brazil

  • Tuesday, November 1st 2016 - 04:59 UTC

    Squall hits Piriapolis - all of Uruguay under metheorological orange alert

    Maldonado Mayor Enrique Antia taking action in the face of severely adverse weather

    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.

  • Tuesday, November 1st 2016 - 02:16 UTC

    Brazil municipal elections runoff ratify “non political” candidates

     Crivella wrote a book in 1999 calling Roman Catholics “demonic” and said Hindus drank their children's blood. He also claimed that homosexuality is evil

    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.

  • Thursday, October 27th 2016 - 03:29 UTC

    Lowering interest rates in Brazil will be “moderate and gradual”, says Central bank

    Lower interest rates and inflation rates are expected to help return to growth: a relief to unpopular President Temer and to 12 million unemployed workers.

    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.

  • Wednesday, October 26th 2016 - 05:48 UTC

    Brazilian Lower House votes amendment to cap spending for twenty years

    Temer has vowed restore credibility to Brazil's finances and pull out of its worst recession since the 1930s Great Depression.

    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.

  • Tuesday, October 25th 2016 - 12:20 UTC

    Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

    The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said at the Rio Oil and Gas conference.

    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.

  • Tuesday, October 25th 2016 - 09:07 UTC

    Petrobras and Total reach strategic alliance for upstream and downstream projects

    “This is a far greater level of cooperation between Total and Petrobras than you usually get in the oil industry,” stated the Total release

    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.

  • Monday, October 24th 2016 - 17:55 UTC

    Brazil congressional police arrested accused of obstruction of justice

     Senator Calheiros stated that “congressional police acts as prescribed by the Constitution, the legal rules, and the Senate's administrative regulations.”

    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.

  • Monday, October 24th 2016 - 17:43 UTC

    Billions pour in to buy Argentine bonds, “sign of growing investor confidence”

    The milestone, according to Central Bank chief Federico Sturzenegger, was “a sign of growing investor confidence in the country.”

    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.”

  • Friday, October 21st 2016 - 18:17 UTC

    Brazilian prosecution after another can of worms, the national development bank, BNDES

    BNDES will audit each of 47 schemes to check they meet its financial standards. Among projects affected are a dam in Mozambique and Cuba's Port Mariel project

    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.

  • Friday, October 21st 2016 - 02:56 UTC

    Brazilian central bank lowers basic rate 0.25 points on more optimistic recovery data

    The new, market-friendly central bank governor, Ilan Goldfajn, is expected to oversee further rate cuts before the year ends.

    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.