Tag: Brazil

Brazil
Monday, January 26th 2015 - 08:34 UTC

Brazil supportive of Mercosur “as long as it does not turn into a burden”

“Mercosur must ensure freedom to its members to negotiate with other parties and must not become a burden” said Agriculture minister Abreu

Brazil is ready to preserve the advances achieved by Mercosur but as long as the block does not turn into 'a burden' when it comes to negotiate trade agreements with third parties, according to Agriculture minister Katia Abreu.

Thursday, January 22nd 2015 - 06:39 UTC

Brazil central bank increases basic rate to 12,25%, highest since August 2011

“Considering the macroeconomic outlook and perspectives for inflation, Copom decided unanimously to raise the Selic rate by 0.50 percentage point,”

Brazil's central bank raised interest rates to a more than three-year high on Wednesday, maintaining an aggressive pace of monetary tightening to contain high inflation, help the economy back on its tracks and win investors disillusioned with the once-booming economy.

Thursday, January 22nd 2015 - 06:09 UTC

Right to sunbathe topless triggers spontaneous protest in Rio beaches

It’s illegal in Brasil for women to show their breasts in public. The offense is punishable by three months to a year in prison under Brazil’s penal code

A scantily clad group of female protesters drew a heavily breathing gaggle of journalists and cell-phone wielding onlookers to the beaches of Rio de Janeiro. The protest was not meant to draw attention to another corruption scandal, police killing, or unwanted hike in transit fares, rather demand women’s right to sunbathe topless, a cause that most of the onlookers appeared to support.

Tuesday, January 20th 2015 - 05:48 UTC

Party is over in Brazil: increase in fuel, tax on consumer loans and imports

“The main goal of these measures is to boost confidence on the economy,” said Levy, who took office at the start of the year

Brazil on Monday announced tax increases on fuel, imports and consumer loans aimed at raising 20.6 billion Reais (7.7bn dollars) in additional revenues this year. The plan is part of an effort to help balance budget accounts and revive investor confidence, Finance Minister Joaquim Levy said at a news conference.

Tuesday, January 20th 2015 - 05:27 UTC

Heat wave in Brazil forces power cuts; to recover fragile system rates could increase by 60%

Brazilian officials have repeatedly denied the need for energy rationing, even as the driest spell in 80 years drains hydropower and forces use of thermal plants

Rolling blackouts swept across parts of Brazil as the grid operator ordered select power cuts to avoid a larger crisis, drawing attention to a fragile electric system that is buckling under the strains of record-breaking heat and dryness.

Monday, January 19th 2015 - 07:10 UTC

Brazil central bank expected to raise interest rates this week for third time running

The benchmark Selic could climb to 12.25%, next Wednesday, despite risks of a recession this year. That would be the highest rate since August 2011.

Brazil's central bank is expected to raise interest rates for a third straight meeting this week to quell any doubts about its commitment to ending years of high inflation.

Monday, January 19th 2015 - 06:02 UTC

Rousseff 'dismayed' with Indonesia for execution of Brazilian; ambassador recalled

Archer, the first Brazilian to be executed in another country, was shot “at 3:31 p.m. Brazilian time, after spending a little more than 11 years behind bars”.

President Dilma Rousseff expressed Saturday her “dismay” and “indignation” after learning of the execution of Brazilian Marco Archer Cardoso Moreira in Indonesia and recalled her country's ambassador to Jakarta for consultations.

Saturday, January 17th 2015 - 08:00 UTC

Petrobras CEO confirmed in the job by the Energy minister

“I believe she is the right person because she is competent, and few others know the Petrobras system,” said Braga, Brazil’s minister of mines and energy

Brazil’s energy minister this week threw his support behind the CEO of Petrobras, the embattled state-run oil company embroiled in a vast corruption scandal that has dominated national headlines. Maria das Graças Silva Foster will keep her job as CEO, the minister said, despite growing demands for her resignation.

Saturday, January 17th 2015 - 07:49 UTC

Petrobras corruption scheme could reach 28bn dollars according to police

The criminal investigation also involves foreign companies and 750 additional infrastructure contracts, revealed Ms. Marena

The corruption scheme in Brazil's leading corporation Petrobras could exceed 28 billion dollars, making it the largest corruption scandal that the country has ever seen. The development was reported through an interview by Reuters of Brazilian police officer, Erika Marena, investigating the corruption probe.

Friday, January 16th 2015 - 06:49 UTC

Bilateral trade between Mercosur main partners dropped 21.2% in 2014

The poor performance of the auto industry had an impact for both countries and their complementation

Bilateral trade between Mercosur two main partners, Brazil and Argentina (first and third largest economies in Latin America) dropped 21.2% last year and with a 139 million dollars deficit for Argentina, according to the Argentine Commerce Chamber, CAC.

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