As the soybean harvest gets under way in Brazil, analysts are having a clearer picture of whether the forecast record-setting crop will hit the century mark of 100 million tons despite hot and dry weather in Mato Grosso and northeastern Brazil as pods set and fill.
Brazil’s government-owned oil giant Petrobras should cede some of its drilling rights to foreign firms, Royal Dutch Shell Oil CEO Ben van Beurden was quoted saying in Estado de Sao Paulo newspaper.
The Brazilian government expects to reach an agreement by Friday with Samarco Mineração to settle a 20 billion-real (US$4.9 billion) lawsuit for damages in the deadly dam disaster which burst in inland Minas Gerais creating a tsunami of mud and waste that killed 17 people and reached the Atlantic ocean.
Standard & Poor's downgraded Brazil's credit rating deeper into junk territory on Wednesday, citing its failure to curb its fiscal deficit, in a surprise blow to President Dilma Rousseff`s bid to haul the economy out of its worst recession in decades.
Analysts expect Brazil's economy to contract by 3.33% this year, with the outlook worsening from last week, the Central Bank said Monday. Last week, analysts said they expected Brazil's economy to contract by 3.21% this year.
More than 200,000 troops fanned out across Brazil over the weekend to raise awareness about the mosquito that spreads the Zika virus, which has been linked to a surge in birth defects.
Brazilian President Dilma Rousseff said that the 2016 Olympic Games in Rio de Janeiro would take place despite the Zika virus, at a time when various athletes have expressed their fears about competing.
Brazil’s troubled state oil firm Petrobras faces possible new legal challenges from a coalition of groups representing international investors based in Europe in the US. The financially hobbled and corruption-racked company is being sued over alleged fraud-related losses the investors suffered on its shares and bonds traded outside the Americas.
Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.
Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month closure due to drought and the use of water for electricity, the Estado de S. Paulo newspaper reported this week.