Brazil’s Economy Ministry denied that the government would pay US$ 14 billion to state-controlled oil company Petroleo Brasileiro SA to settle a dispute over an oil-producing zone off the Brazilian coast known as the transfer-of-rights area.3 comments
Brazil President Jair Bolsonaro on Friday called for minimum retirement ages significantly lower than those proposed by his predecessor, sparking concerns among investors that he will back watered-down pension reform legislation.
Outgoing President Michel Temer issued an executive order that allows foreign groups to own 100% of a Brazilian airline. Previously, non-Brazilians were limited to 20% of shares. The decision occurs in the midst of a bankruptcy proceeding filed by Avianca Brasil.
Brazil's attorney general has accused President Michele Temer of sitting at the center of an institutionalized system of corruption and has asked the courts to charge him with crimes as soon as he leaves office at the year's end.
The presidents of all Mercosur member and associate countries gathered Tuesday in Montevideo for a summit to redefine the bloc's future, in light of recent statements from Brazil's future government that the region will not be among the priorities of Jair Bolsonaro when he becomes president on January 1.
The Brazilian Navy launched on Friday its first Brazilian-built Scorpène submarine, the Riachuelo. The ceremony took place at the Itaguaí Navy base in presence of current president Michel Temer and elected president Jair Bolsonaro.
Brazilian outgoing president Michel Temer said on Thursday his government will leave a primary budget deficit fewer than 130 billion reais (US$ 33.3 billion) when he hands over the reins to President-elect Jair Bolsonaro on January first.
A Brazilian federal court on Thursday suspended a proposed US$ 4.75 billion tie-up between US aerospace giant Boeing and the civilian business of Brazilian plane-maker Embraer pending the government of president-elect Jair Bolsonaro taking office.
Right-wing President-elect Jair Bolsonaro said on Tuesday he plans to tackle the overhaul of Brazil's fiscally burdensome pension system with piecemeal reforms that can pass Congress, starting with an increase in the minimum age of retirement. He said reforms should start with the public social security system and advance gradually to make sure they pass Congress.
The Brazilian corruption probe known as Operation Carwash (Lava Jato) has placed three out of five living former presidents of Brazil as defendants. Michel Temer, the current president, and José Sarney so far have been only arraigned.