Tag: Brazil

Brazil
Friday, September 30th 2016 - 11:24 UTC

Spate of killings ahead of Sunday's municipal elections, the dark side of Brazilian politics

The latest victim was Jose Gomes da Rocha, running for mayor in Itumbiara in  Goias was shot dead, along with a police officer, while campaigning on Wednesday

The gunning down of a string of candidates ahead of nationwide municipal elections this Sunday is stoking fears that Brazil's toxic politics are headed into dangerous new territory. The main headline from Sunday's polls is expected to be the hammering of the populist Workers' Party, which many here blame for Brazil's punishing recession and sprawling corruption scandals.

Thursday, September 29th 2016 - 11:23 UTC

Brazil central bank sees annual inflation targets within arm's reach

The central bank quarterly inflation report released this week lowered its 2017 inflation forecast to 4.4% from 4.7%.

Brazil's central bank expects annual inflation to ease below the government's 4.5% target in 2017 after years of hovering well above that goal, leaving the door open for cutting some of the world's highest interest rates as early as October. The bank also held its estimate for an economic contraction of 3.1% in 2016, but it expects the economy to grow 1.3% in 2017.

Thursday, September 29th 2016 - 09:07 UTC

Sunday deadline for Falklands' competition open to university students

 Why would I like to meet my neighbors from the Falkland Islands?”

This Sunday, October 2nd, ends the deadline to participate in the regional competition sponsored by the Falkland Islands government and the UK embassies in Uruguay, Brazil and Chile addressing the issue, “Why would I like to meet my neighbors from the Falkland Islands?” The competition is open to university students from the three countries and the prize is a weeklong trip to the Falkland Islands with all expenses paid.

Wednesday, September 28th 2016 - 10:28 UTC

No end to Petrobras spill: powerful couple (Senator and ex minister) indicted on corruption charges

Hoffmann, ex chief of staff to Rousseff during her first term, and husband Paulo Bernardo Silva, allegedly illegally received funds for her 2010 Senate campaign.

Brazilian Senator Gleisi Hoffmann and her husband, Paulo Bernardo Silva, who both served in the ousted government of former President Dilma Rousseff, were indicted on Tuesday by the Supreme Court on corruption and money laundering charges in the Petrobras graft investigation.

Tuesday, September 27th 2016 - 10:56 UTC

Palocci, the brainchild behind the successful years of ex president Lula da Silva

Palocci's arrest brings the investigation of Brazil's biggest corruption scandal further into the core leadership of the PT.

A medical doctor by training, Antonio Palocci was Brazilian former president Luiz Inacio Lula da Silva's finance minister and a key player in the 2002 election campaign that put the union and PT (Workers Party) leader in the presidential seat.

Tuesday, September 27th 2016 - 10:48 UTC

Liaison man between Lula and Rousseff's presidencies, and corruption scheme arrested

Federal Judge Sergio Moro ordered Palocci's assets and of others accused of receiving as much as R$ 128 million (US$ 39,5 million) in bribes to be blocked.

Brazilian presidents Lula da Silva and Dilma Rousseff former Presidential Chief of Staff and Finance Minister Antonio Palocci was temporarily arrested on Monday morning in São Paulo as part of the 35th phase of the Lava Jato (Car Wash) Operation investigating the Petrobras corruption scandal.

Monday, September 26th 2016 - 10:56 UTC

US Treasury Secretary on advisory visit to Argentina, Brazil, Colombia and Mexico

 “Our message is very much one about the benefits of ongoing economic reforms, and disciplined economic policies in these economies,” the Treasury official said

U.S. Treasury Secretary Jacob Lew will urge his counterparts in Argentina, Brazil, Colombia and Mexico to press ahead with economic and fiscal reforms aimed at restoring or strengthening growth, a senior Treasury official said on Friday. Lew will be visiting the four largest Latin American economies this week beginning with Argentina on Monday, recognizing efforts by President Mauricio Macri to reintegrate Argentina into the global economy.

Saturday, September 24th 2016 - 08:02 UTC

Temer links Rousseff's removal with the drastic change in economic policy

Temer candidly admitted that it had become imperious to change the economic course since Brazil has been in the worst recession since the 1930s

Brazilian president Michel Temer addressing business leaders and foreign policy experts in New York earlier this week revealed another twist to the recent political events in the country which led to the impeachment and removal of his elected predecessor Dilma Rousseff.

Saturday, September 24th 2016 - 07:27 UTC

Petrobras sells major gas pipeline which feeds Brazil's core industrialized regions

The pipeline connects the Brazilian states of Rio de Janeiro, São Paulo and Minas Gerais with natural gas coming from Bolivia and Brazil’s offshore oil and gas fields

A consortium led by Canada's Brookfield Infrastructure has signed a deal to buy a controlling stake in a natural gas pipeline system in Brazil from Petrobras for US$5.2 billion. Under the deal, the consortium will acquire a 90% stake in Nova Transportadora do Sudeste S.A. (NTS). Petrobras will retain a 10% stake.

Friday, September 23rd 2016 - 11:16 UTC

Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

Petrobras will focus on the most profitable project in deep waters, CEO Parente said. “Petrobras wants to spend less to produce the same”.

Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.

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