Tag: Brazil

Brazil
Wednesday, July 1st 2015 - 05:52 UTC

Obama and Rousseff agree their nations are 'natural partners' and working on an 'upward trajectory'

“I believe that this visit marks one more step in a new more ambitious chapter in the relations between our countries,” Obama said.

President Barack Obama and visiting Brazilian President Dilma Rousseff sought Tuesday to cast their nations as “natural partners” collaborating closely on critical issues like climate and regional diplomacy, glossing over recent tensions over spying that have strained relations between the first and seventh world economies.

Wednesday, July 1st 2015 - 03:26 UTC

Brazil celebrates the opening of the US market for its fresh beef

Brazil expects to export 100,000 tons of beef to the US in the next five years. Abreu said the decision is like “getting a pass code” to access other markets.

U.S. Department of Agriculture's Animal and Plant Health Inspection Service announced Monday that it is amending its regulations to allow imports of fresh (chilled or frozen) beef from (Argentina) and 14 states in Brazil. It's “the first step in a process for these regions to gain access to the U.S. market for beef”, the APHIS said in a statement.

Tuesday, June 30th 2015 - 06:14 UTC

Petrobras drastically cuts investment by 37% in next five years

“The investment portfolio will give priority to petroleum exploration and production projects in Brazil, with the emphasis on the pre-salt”

State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.

Monday, June 29th 2015 - 06:08 UTC

Loathed at home, Dilma Rousseff tries to rebuild image among US investors

Rousseff, who arrived Saturday, kicked off her US visit by meeting Sunday in New York with a group of about 20 Brazilian business leaders.

Brazil's President Dilma Rousseff met Sunday with investors in New York on the first day of a long-delayed US visit aimed at overcoming strains caused by the NSA spying scandal. Revelations two years ago that the US National Security Agency electronically eavesdropped on Rousseff's email and other communications prompted her to angrily call off an official visit to Washington that had been set for October 2013.

Friday, June 26th 2015 - 06:23 UTC

Petrobras bribery case reaches US courts on investors' class action lawsuit

Brazil's state-run oil company Petrobras urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the fraud, which he said was orchestrated by a handful of individuals.

Thursday, June 25th 2015 - 07:33 UTC

Brazilian central bank inflation estimates anticipate increase in interest rates

The Central Bank's Monetary Policy Committee will meet in late July to adjust the benchmark interest rate, currently at 13.75%

The Brazilian Central Bank on Wednesday raised its inflation estimate for 2015 to 9%, or almost double the midpoint in the official range and well above the 6.5% top end target, and said the economy may contract by 1.1% this year, marking the worst performance since 1990.

Wednesday, June 24th 2015 - 08:38 UTC

Petrobras scandal ramifications getting closer to Lula da Silva

The former president is linked to lobbying for the Odebrecht Group to obtain public works projects in Dominican Republic, Cuba, Venezuela and Ghana.

One of Brazil's leading weekly magazines, Epoca, has revealed that former president Lula da Silva could be investigated over corruption allegations following on the imprisonment of the Odebrecht Group CEO, (Marcelo Odebrecht) which is one of the country's largest private corporations and employers, and for which Lula did much lobbying and sponsoring for public works projects in Dominican Republic, Cuba, Venezuela and Ghana.

Wednesday, June 24th 2015 - 08:29 UTC

Workers Party is old and out of touch, “an internal revolution is needed”, blasts Lula da Silva

“We have to define whether we want to save our skins and our jobs or if we want to save our project,” Lula da Silva said in Sao Paulo

Former President Lula da Silva again blasted Brazil's governing Workers Party, an organization he founded, as old and out of touch. “We have to define whether we want to save our skins and our jobs or if we want to save our project,” Lula da Silva said in Sao Paulo during a seminar on democracy, which he attended along with former Spanish Prime Minister Felipe Gonzalez.

Monday, June 22nd 2015 - 07:26 UTC

Rousseff support plummets to 10%, while disapproval marks a record 65%

“It's a new record in Datafolha polls since we started conducting them in January 2011,” when Dilma took office, reported Folha de Sao Paulo

Public support for Brazilian President Dilma Rousseff has slipped to a record low, with her disapproval ratings rising to 65%, according to pollsters Datafolha and published on Sunday. Support for the embattled leader caught by a sliding economy and embroiled in a major graft scandal involving state-owned corporation Petrobras, slumped to 10%.

Saturday, June 20th 2015 - 09:06 UTC

Brazil' economic activity further contracts in April as confidence dwindles

A shrinking economy and inflation running at an 11-year high have raised popular discontent with President Dilma Rousseff

Economic activity in Brazil fell sharply in April from March, worse than already negative market estimates and showing still more evidence the once-booming economy is heading toward a recession.

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