Stories for January 2016

Monday, January 18th 2016 - 08:24 UTC
Rousseff eliminates regulations which impeded public universities working with the private sector

Full-time professors at public universities in Brazil will now be allowed to carry out research in the private sector—and get paid for it, without having to drop their academic jobs. The change is the result of a new law, signed by President Dilma Rousseff, designed to bring science and industry closer together.
Monday, January 18th 2016 - 08:15 UTC
Petrobras increased pre-salt oil production by 56% during 2015

Brazil's state-controlled oil company Petrobras said it increased its crude production last year by 4.6% relative to 2014, exceeding the target set forth in its business plan for the first time in 13 years. Oil output in 2015 amounted to an average of 2.128 million barrels per day (bpd), up 0.15% from the 2.125 million bpd forecast by the company.
Monday, January 18th 2016 - 08:11 UTC
Rousseff admits a government bailout of indebted Petrobras is a serious option

Brazilian President Dilma Rousseff admitted that a government bailout for the country’s troubled state-controlled oil company Petrobras can’t be ruled out. The company is mired in financial troubles amid a deep decline of global oil prices and a sprawling corruption scandal involving several of its former executives and its largest suppliers.
Monday, January 18th 2016 - 05:52 UTC
All negotiations with holdout funds will be made public, announced Argentina

Argentina announced that all the details of the negotiation with the speculative funds, taking place in New York, will be made public in order to guarantee the transparency of the process. The news from the Finance Ministry dismissed reports that the holdouts were demanding the Argentine government sign a confidentiality agreement before talks can begin.
Monday, January 18th 2016 - 05:34 UTC
War between Saudi Arabia and Iran could send oil prices to $250

By James Stafford of Oilprice.com - The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries. The back-and-forth escalation quickly turned the simmering tension into an overt struggle for power in the Middle East
Saturday, January 16th 2016 - 10:58 UTC
Venezuela in “economic emergency”: Q3 inflation 141.5% and GDP down 7.1%

Venezuelan President Nicolas Maduro's government has decreed a 60-day “economic emergency” for the recession-hit OPEC nation reeling from low oil prices and a sputtering state-led economic model. The government on Friday also published the first macroeconomic data for more than a year, showing GDP dropped in the third quarter while inflation surged.
Saturday, January 16th 2016 - 10:54 UTC
Unemployment in Brazil during third quarter climbs to 9%

Unemployment in Brazil rose to 9% in the August-October rolling quarter, up from 8.6% during the previous three months, the Brazilian Institute for Geography and Statistics, or IBGE, reported Friday. The jobless rate was 6.6% in August-October 2014.
Saturday, January 16th 2016 - 10:42 UTC
Guatemalan president Morales tells the military he wants “justice, not revenge”

Guatemala's new president, Jimmy Morales, said on Friday he wants “justice, not revenge” in reference to ex-army personnel accused of atrocities during his country's 1960-1996 civil war. Following an armed forces ceremony recognizing him as commander-in-chief just one day after he was sworn in, Morales added that he did not want to see action that would “prejudice” the country's values.
Saturday, January 16th 2016 - 10:31 UTC
Dead fish and garbage in Rio's Guanabara Bay question Brazil's Olympic celebrations

Thousands of dead fish washed up on the shores of Rio’s Guanabara Bay during the week, not far from where events are being held at this year’s Olympic Games, environmental officials said. The incident was the latest involving water quality in the bay, where sailing, open water swimming, and triathlon races are due to take place during the Games in August.
Saturday, January 16th 2016 - 10:25 UTC
Tight budgets are forcing many Brazilian cities to cancel Carnival celebrations

Cities across Brazil are cancelling carnival celebrations as increasing economic woes hit Latin America's largest economy. Local governments are citing tightened budgets, with lower tax revenues and more important projects in need of funding.