Brazil President Dilma Rousseff cited the nation's foreign currency reserves as a backstop to excessive volatility and weakness in the Brazilian Real.
President Dilma Rousseff pledged on Sunday to slash Brazil’s greenhouse gas emissions by 37%, during her speech to the UN General Assembly. Outlining her vision for a global climate change agreement on Sunday, Rousseff stressed on the importance of a “common response”.
Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run Petrobras, Brazilian court documents showed.
Brazil's unemployment rate rose for an eighth straight month in August to the highest in over five years, although the increase was slightly smaller than markets expected. The non-seasonally adjusted jobless rate rose in August to 7.6%, from 7.5% in July, statistics agency IBGE said.
Bill & Melinda Gates Foundation have sued Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company.
The United Kingdom preparing for Rio Olympics 2016 with a new pilot Consulate General in Belo Horizonte to make the most of trade and business opportunities ahead of the Games.
Petrobras announced that the price of liquefied petroleum gas (LPG) for commercial and industrial clients has risen 11%, effective midnight Friday. The company said the increase does not affect the price of LPG sold in smaller containers for residential uses such as household cooking, which rose 15% on September first.
Brazil's depressed currency rebounded Thursday after the head of its central bank vowed to use all instruments in its arsenal to curtail the Real's collapse. Earlier in the day the Real tumbled to an all-time low of 4.248 to the U.S. dollar, but bounced back to 4.023 after central bank President Alexandre Tombini, in an unscheduled press briefing, did not rule out selling part of the country's $371 billion foreign reserves to calm the exchange rate market.
The UK will be opening a general consulate office in Belo Horizonte, capital of Minas Gerais, one of Brazil's most dynamic states, which outstands both for agriculture and industrial production. Foreign Office minister for Latin America, Hugo Swire is scheduled to be present at the opening ceremony on Friday.
Brazil's Congress on Wednesday voted to uphold most of President Dilma Rousseff's vetoes on billions of dollars in additional expenses, marking a partial victory for the president, who is fighting a weakening economy and calls for her ouster, plus a plunging currency.