Tag: Brazil

• Friday, August 21st 2015 - 06:42 UTC

  Brazil's prosecution seeks to charge Lower House speaker and a Senator on Petrobras corruption

  

  Brazilian prosecutors on Thursday asked the Federal Supreme Court to authorize prosecution of the speaker of the lower house of Congress, Eduardo Cunha, in a massive corruption case centered on state-controlled oil giant Petrobras.

• Thursday, August 20th 2015 - 07:07 UTC

  Two lady leaders under fire, meet in Brazil hoping to recover ground

  

  Chancellor Angela Merkel, Foreign Minister Frank-Walter Steinmeier and several other high-ranking German politicians touched down in Brazil's capital, Brasilia late Wednesday. The German delegation set off on its 12-hour flight immediately after a Bundestag vote approving a new bailout package for Greece.

• Thursday, August 20th 2015 - 07:02 UTC

  Victory for Rousseff: Senate passes major bill of fiscal austerity plan

  

  Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts to reduce a gaping fiscal deficit and restore confidence in her government's accounts. The Senate voted 45-27 to pass the bill which was received from the lower house with no changes.

• Thursday, August 20th 2015 - 06:42 UTC

  Brazilian major contractor admits guilt in Petrobras' massive corruption scheme

  

  Camargo Correa Construcoes e Participacoes, one of Brazil's largest construction companies, has admitted its role in a massive scheme to overcharge state-controlled oil company Petrobras and agreed to cooperate in the investigation as part of a leniency deal, anti-trust agency Cade said Wednesday.

• Thursday, August 20th 2015 - 06:32 UTC

  Brazil in recession, according to the Central Bank's economic activity index

  

  Economic activity in Brazil fell more quickly than expected in June, central bank data showed on Wednesday, adding to evidence that the once-booming economy is suffering a painful recession. The Brazilian central bank's IBC-Br economic activity index fell 0.58% in June from the prior month, the bank said in a report released on Wednesday.

• Tuesday, August 18th 2015 - 09:28 UTC

  Former Petrobras top official sentenced to 12 years in prison

  

  A Brazilian judge sentenced Nestor Cervero, former international chief of state-run oil firm Petrobras, to just over 12 years in prison on Monday for corruption and money laundering related to a bribe allegedly paid to the speaker of Brazil's lower house of Congress.

• Tuesday, August 18th 2015 - 09:15 UTC

  Markets estimate Brazil's recession will spill over to 2016, says Central bank

  

  The Brazilian Central Bank weekly Focus Bulletin released on Monday indicates, for the first time, according to the prevailing opinion among financial institutions that the current recession of the country's economy will extend well into 2016. According to Focus the market forecasts a retraction of the Brazil's GDP of 0.15% in 2016.

• Monday, August 17th 2015 - 06:21 UTC

  “Dilma Out”, was voiced by hundreds of thousands across Brazil

  

  Hundreds of thousands of demonstrators took to the streets across Brazil to call for the impeachment of president Dilma Rousseff, whom they blame for a vast corruption scandal and the economy's worst slump in a quarter-century. Less than a year into her tumultuous second term, the president's support has dwindled to single digits in recent polls, while two in three support calls for her impeachment.

• Saturday, August 15th 2015 - 08:50 UTC

  Uruguay says Brazil rejects idea of leaving Mercosur, but agrees that deep changes are urgent

  

  Uruguay's foreign minister said on Friday that “nobody” supports the proposal from the Brazilian Senate president Renan Calheiros to put an end to the Mercosur customs union. However he did point out that he proposal exposed that the block effectively is 'not working' and needs to have its foundations reviewed.

• Saturday, August 15th 2015 - 07:27 UTC

  Massive protest turnout on Sunday could decide Brazilian president's future

  

  Hundreds of thousands of angry of citizens are expected to take to the streets of more than 114 Brazilian cities on Sunday as allegations of corruption and incompetence swamp the government, and plummeting commodity prices sap its economy, posing a key test for President Dilma Rousseff.