Tag: Brazil

Thursday, May 5th 2016 - 11:27 UTC

Petrobras sells stakes in Argentina and Chile, part of major divestment plan

Petrobras sold to Pampa Energia the 67.19% stake in PESA, but excludes two major gas formations in Neuquén (Argentina) and Bolivia

Brazil’s state-run oil firm Petrobras said it has concluded the sale of its 67.2% stake in Petrobras Argentina to Argentina’s Pampa Energía for US$ 892 million, according to a securities filing. Petrobras also sold all of Petrobras Chile Distribución to Southern Cross Group for about US$ 490 million as part of its divestment program, the company said.

Thursday, May 5th 2016 - 07:30 UTC

Senate impeachment committee votes on Friday on Rousseff's political future

The 126-page report by Sen. Antonio Anastasia has been uploaded to the Senate's Web site and has already been read to the full 21-member committee

The rapporteur of a Senate committee on impeachment issued a report Wednesday recommending that Brazilian President Dilma Rousseff be tried in the upper house for allegedly breaking budget laws.

Wednesday, May 4th 2016 - 08:46 UTC

Attorney General accuses Lula da Silva of a key role in Petrobras huge corruption scandal

Janot said corruption could not have taken place without the participation of the former leader. Lula was in office between 2003 and 2011, and denies allegations.

Brazil's Attorney General Rodrigo Janot has asked the Supreme Court to authorize an investigation against former President Lula da Silva for alleged corruption. Janot accused Lula of playing a key role in the huge corruption scandal at the state oil company, Petrobras.

Wednesday, May 4th 2016 - 08:18 UTC

Brazilian prosecution asks for investigation of opposition leader Senator Neves

Prosecutor-General Janot had stopped the investigation of Neves last year but is now asking to reopen it based on plea bargain testimony from another senator

Brazil’s top prosecutor asked the Supreme Court to open an investigation into opposition Senator Aécio Neves, the country’s leading opposition figure, as the vast Petrobras corruption probe engulfed more politicians. Neves, who narrowly lost the 2014 presidential election to Dilma Rousseff, was previously included in a list of some 50 politicians thought to have taken bribes originating from state-run companies.

Wednesday, May 4th 2016 - 07:15 UTC

Washington Post list of Latin American leaders involved in corruption schemes

In Chile the daughter-in-law of President Bachelet has been charged with tax fraud in a lucrative real estate deal that also possibly involved insider information.

The massive bribery scandal that has enraged Brazilians and pushed President Dilma Rousseff to the verge of impeachment is just one flashpoint among many right now across Latin America, according to a piece from The Washington Post.

Tuesday, May 3rd 2016 - 06:54 UTC

Brazil recession deepens, but prospects for 2017 seem much brighter

The consensus is now suggesting Brazil’s economy will shrink by 3.89% this year, following last year’s 3.8% contraction, which was the worst in 25 years.

Brazil’s recession is expected to deepen this year as economists brace for an even steeper contraction than in 2015. Economists have downgraded their 2016 outlook for Latin America’s largest economy for the 15th week in a row, according to the weekly Focus survey of about 100 economists by the Brazilian central bank.

Monday, May 2nd 2016 - 11:54 UTC

Temer anticipates support of constitutional reform, and would step down in 2018

Many political analysts believe these are messages to attract the support of the PSDB, the main opposition party under the leadership of Aecio Neves

Vice-president Michel Temer patiently preparing a coalition and a basic program if Dilma Rousseff is finally impeached said he will not be standing as a candidate for Presidency in 2018. Furthermore, he said he will support the proposal to end presidential re-election in Brazil.

Monday, May 2nd 2016 - 08:33 UTC

Temer promises to combat corruption by strengthening anti-graft institutions

Temer's critics have said he would try to hamper Brazil's biggest ever corruption probe, Car Wash, which has involved many politicians from own party PMDB

A government led by Brazilian Vice President Michel Temer would press ahead with the country's corruption fight by strengthening anti-graft institutions and enacting tougher controls over state-run companies, and will also implement an education reform, according to a six chapter document leaked to the Sao Paulo media.

Monday, May 2nd 2016 - 05:42 UTC

Rousseff pledges “to fight to the end” and some groups anticipate “civil disobedience”

“If they can do this to me, what will they do to working people?” she asked, announcing a new increase to the family allowance program called Bolsa Familia.

Brazil's populist president Dilma Rousseff vowed at a protest on Sunday, International Labour Day, that she would go down fighting ahead of what could be her final full week in power before impeachment.

Friday, April 29th 2016 - 07:10 UTC

“The maker of presidents” (including Lula, Dilma and Chavez) formally charged with corruption

Santana, who was arrested in February, is accused of receiving bribes from the Odebrecht group in a scheme to divert funds from Petrobras

Brazilian prosecutors charged political strategist Joao Santana, the architect of President Dilma Rousseff’s 2010 and 2014 election victories, and 16 others with corruption on Thursday as part of a massive graft investigation.


Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!