Brazil

• Friday, June 15th 2018 - 10:57 UTC

  Petrobras ex-CEO becomes head of Brazilian giant food processor BRF

  

  The board of Brazilian food processor BRF SA on Thursday elected Chairman Pedro Parente to the additional post of chief executive, the company said in a securities filing. Parente, the former CEO of state-controlled oil company Petrobras will hold both positions for an initial period of 180 days, BRF said.

• Thursday, June 14th 2018 - 21:49 UTC

  Morgan Stanley and Royal Bank of Canada fined in Brazil for rigging foreign exchange rates

  

  Brazil’s competition authority Cade has reached a settlement with Morgan Stanley and Royal Bank of Canada, fining them a combined 42.9 million reals (US$11.6 million) for forming a cartel manipulate FX markets.

• Thursday, June 14th 2018 - 07:51 UTC

  New conflict brewing with Brazilian truckers

  

  Talks on new prices for truck freight in Brazil, following a nationwide truckers strike in May, have yet to be concluded and the lack of a deal is hurting goods transportation, Brazil’s Agriculture Minister Blairo Maggi said.

• Monday, June 11th 2018 - 08:26 UTC

  Brazilian leading presidential candidate softens attitude towards China

  

  Rightwing presidential candidate Jair Bolsonaro said that China was an “exceptional partner” of Brazil, softening earlier criticism that Chinese investors were taking over Latin America’s largest economy. “We will continue being a partner of China,” Bolsonaro said when asked how he would treat Chinese investments if he wins the October election.

• Saturday, June 9th 2018 - 08:29 UTC

  Brazilian consumer prices climb 0.4% in May; impact of truckers strike and fuel prices expected in June

  

  Brazil's 12-month inflation accelerated in May from April amid strong fuel prices. Consumer prices rose 0.40% in the month, compared with an increase of 0.22% in April, statistics agency IBGE said on Friday. The consumer price index advanced 2.86% in May from a year earlier, up from April's 2.76% pace.

• Friday, June 8th 2018 - 08:35 UTC

  Temer denies any risk of a currency crisis; Central bank pledges “all the necessary liquidity”

  

  Brazilian President Michel Temer said on Thursday there was no risk of a currency crisis in Latin America's largest economy despite sharp falls in the exchange rate, while the central bank chief pledged to maintain the bank's intervention in the market.

• Friday, June 8th 2018 - 08:28 UTC

  China plans temporary anti-dumping measures on Brazilian broilers

  

  China will impose temporary anti-dumping measures on Brazilian broiler chickens from June 9, the commerce ministry said on Friday, after finding in a preliminary ruling that its domestic industry has been substantially damaged by the imports. Local firms buying Brazilian chicken will be required to pay deposits ranging from 18.8% to 38.4% of the value of their shipments, the ministry said in a statement. The measures cover products supplied by top Brazilian exporters JBS and BRF.

• Friday, June 8th 2018 - 08:25 UTC

  Brazil launches massive package of soft loans for agriculture, US$ 51.13bn

  

  Brazil announced on Wednesday evening that it has earmarked up to 194.3 billion Reais or US$ 51.13bn in loans to promote large and medium-sized agricultural producers. At a ceremony in the capital Brasilia, President Michel Temer and his Agriculture Minister Blairo Maggi unveiled the government's “2018-19 Agriculture and Cattle Ranching Program”, which devotes slightly more resources to the sector than last year's 190.25 billion Reais (US$ 50.06 billion).

• Thursday, June 7th 2018 - 09:04 UTC

  Brazilian currency falls amid rising investor worries and political turmoil

  

  The Brazilian currency has fallen to its lowest level against the dollar in more than two years, amid rising investor worries over recent economic and political turmoil. The Real is down 14% this year, near its lowest levels since March 2016. On Wednesday in New York, the dollar bought 3.8534 Reais, versus 3.8087 Reais late Tuesday.

• Thursday, June 7th 2018 - 08:53 UTC

  With Lula out of the presidential race, far-right candidate Bolsonaro is the clear frontrunner

  

  Far-right presidential candidate Jair Bolsonaro is the clear frontrunner in Brazil’s election in October with up to 25% of voter support, followed by center-left populist Ciro Gomes with 12%, a new poll revealed on Tuesday.