Tag: Brazil

Tuesday, December 1st 2015 - 07:45 UTC

Brazil on alert on possible link between Zika virus and micro-cephalic babies

“We have three different clinical trials that for the first time show that Zika can cause death and that it causes severe deformations in fetuses,” Maierovitch told

Brazilian health authorities, who alerted the nation Monday to the rapid spread of the Zika virus, confirmed that up to now it has caused one death and that another six victims are in critical condition and under medical examination.

Tuesday, December 1st 2015 - 07:35 UTC

Brazil's economy expected to further contract, according to the Central bank

Forecast is from Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the Brazilian economy.

Analysts expect Brazil's economy to contract by 3.19% this year, with inflation hitting 10.38%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

Tuesday, December 1st 2015 - 07:32 UTC

Petrobras board chairman resigns; apparent disagreements with CEO Bendine

Unconfirmed media reports say that Ferreira has disagreed with a number of measures taken by CEO Bendine to deal with the financial squeeze

Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.

Sunday, November 29th 2015 - 09:51 UTC

Brazil plans to sue mining companies US$ 7.2bn on toxic mud spill

Izabella Teixeira said the suit will be filed on Monday and proceeds will be put in a fund and used for environmental cleanup in the Rio Doce valley

Brazil's federal and state governments plan to sue the owners of the Samarco iron ore-miner for 20 billion Reais ($7.2 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday.

Sunday, November 29th 2015 - 09:10 UTC

South American football association revolving door at full steam

CONMEBOL confirmed on Thursday that Del Nero will be replaced by Fernando Sarney (Pic) who is expected to travel to Zurich for FIFA Exco session

The head of Brazilian football, Marco Polo del Nero, has finally bowed to the pressure and agreed to resign from FIFA's Executive Committee after being a no-show for the last six months amid fears he could be caught up in the burgeoning corruption scandal.

Friday, November 27th 2015 - 11:07 UTC

Australia's BHP denies UN report on 'toxic' mine spill from collapsed dam in Brazil

The in Minas Gerais state left 13 people dead, devastating several villages. The noxious river has trailed 500km from the mine into the Atlantic Ocean.

Australian mining giant BHP says mud spilled by the devastating collapse of a dam at a Brazilian mine is not toxic. On Thursday the UN said the dam burst at the Samarco mine unleashed a flood equivalent to “20,000 Olympic swimming pools of toxic mud”.

Friday, November 27th 2015 - 07:55 UTC

Brazilian banks follow closely events in Argentina: Dollar at 12 Pesos

Banks argue the Argentine central bank reserves are at rock-bottom and the tendency is to continue. Likewise inflation is estimated at 28%

Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.

Thursday, November 26th 2015 - 16:57 UTC

In a split vote, Brazil's central bank leaves Selic rate unchanged; pressure for an increase

Copom voted 6-2 to maintain its benchmark interest rate at 14.25%, its highest in nine years. Two of the 8-member voted to raise the Selic to 14.75%

Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday in a split vote that shows policymakers are uneasy about inflation, a worsening recession which might lead to a raise in rates early in 2016.

Thursday, November 26th 2015 - 08:23 UTC

Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Senator Delcidio Amaral, who leads President Dilma Rousseff's Workers' Party in the upper house, was the first sitting legislator to be put behind bars

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.

Thursday, November 26th 2015 - 08:18 UTC

Poor report on Rousseff's performance from Brazil's central bank forecast

President Rousseff has been forced to raise taxes, cut spending and investment, and Congress members from her coalition don't accept it

Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.


Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!