Tag: Brazil

• Saturday, September 24th 2016 - 07:27 UTC

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

  

  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

  

  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.

• Friday, September 23rd 2016 - 09:28 UTC

  Brazilian lawmakers in late night vote fail “to neutralize” Petrobras investigation

  

  President Michel Temer criticized a surprise move by Brazilian lawmakers, including some members of his party and even a cabinet minister, to wipe the slate clean on illegal donations they allegedly received.

• Thursday, September 22nd 2016 - 15:40 UTC

  Rousseff back on the political trail in defence of Lula da Silva

  

  Former President Dilma Rousseff called the prosecution of her predecessor on corruption charges another attack on Brazil's democracy, speaking just weeks after the Senate removed her from office in an impeachment trial.

• Thursday, September 22nd 2016 - 15:38 UTC

  Ex finance minister of Lula and Rousseff arrested in connection to Petrobras corruption

  

  Brazilian police on Thursday arrested Guido Mantega, a former finance minister under presidents Lula da Silva and Dilma Rousseff, as part of the investigation into the vast Petrobras corruption scheme, media reported.However Brazilian Judge Sergio Moro later in the day revoked the temporary detention order citing Mantega's cooperation with a search of his home and his wife's surgery in a Sao Paulo hospital.

• Wednesday, September 21st 2016 - 09:42 UTC

  Lula must stand trial on Petrobras probe corruption charges

  

  The Brazilian judge overseeing the investigation of a US$2 billion corruption scheme centered on state oil company Petrobras ruled Tuesday that former President Luiz Inacio Lula da Silva must stand trial on charges arising from the probe.

• Wednesday, September 21st 2016 - 09:25 UTC

  Temer hails the triumph of democracy and pledges fiscal and social responsibility

  

  Brazil's new president, Michel Temer, told the United Nations on Tuesday that his controversial ascent showed the triumph of democracy. Temer took office on August 31 after the impeachment over accounting irregularities of elected president Dilma Rousseff, whose supporters said Brazil's right-wing forces had staged a bloodless coup.

• Tuesday, September 20th 2016 - 11:14 UTC

  Temer's message to UN: peace, human rights and economic reforms

  

  Twenty days after being confirmed as Brazil’s new president, Michel Temer will deliver his first international speech at the UN´s General Assembly on Tuesday. He is not expected to mention recent political changes in Brazil, and focus rather on new opportunities for foreign investors.

• Tuesday, September 20th 2016 - 09:53 UTC

  Brazil and Uruguay agree on a Mercosur with “a greater open integration”

  

  President Tabare Vazquez confirmed on Monday that Uruguay will continue as “coordinator” of discussions between Mercosur and the European Union to reach a wide ranging trade agreement.

• Friday, September 16th 2016 - 08:25 UTC

  Argentina (and Brazil) optimistic about a Mercosur/EU trade accord by the end of 2017

  

  The current critical situation of Mercosur is an opportunity to strengthen and advance trade negotiations, which could include the long delayed accord with the European Union by the end of 2017, according to Argentina's Secretary of Commerce, Miguel Braun.