Brazil

• Tuesday, December 12th 2017 - 08:13 UTC

  Peruvian president admits working for Odebrecht, as financial advisor or irrigation project

  

  Peruvian President Pedro Pablo Kuczynski acknowledged that he worked as a financial adviser for an irrigation project owned by the Brazilian builder Odebrecht, contradicting his previous denials of having any links to the company. Odebrecht is at the center of Latin America’s biggest graft scandal and has admitted to paying about US$ 30 million in bribes to secure contracts in Peru over a decade.

• Monday, December 11th 2017 - 19:51 UTC

  Sao Paulo governor named leader of PSDB and most likely presidential candidate

  

  The centrist Brazilian Social Democracy Party, PSDB, elected four-time Sao Paulo Governor Geraldo Alckmin as its leader on Saturday, making him its most likely presidential nominee in next year’s elections. Alckmin threw the party’s weight behind a social security overhaul that is currently before Congress and would cut generous pensions for public-sector employees.

• Monday, December 11th 2017 - 19:29 UTC

  Brazilian lawmaker and professional clown won't run for reelection: he feels ashamed of his colleagues

  

  A professional clown in Brazil who ran for congress and won by a huge margin says he will not stand again in 2018. Francisco Everardo Oliveira Silva, better known as Tiririca, is coming to the end of his second term in the Chamber of Deputies.

• Monday, December 11th 2017 - 15:10 UTC

  Brazilian 2017 inflation below target for the first time in two decades

  

  Brazil's monthly inflation eased more-than-expected in November after accelerating in the previous month, mainly due to the continued fall in food prices, preliminary data from IBGE showed on Friday. The consumer price index rose 0.28% month-on-month following 0.42% in October.

• Saturday, December 9th 2017 - 19:51 UTC

  Brazilian auto industry recovering above expectations

  

  Auto sales in Brazil are likely to beat prior forecasts and accelerate next year, national automakers association Anfavea said on Wednesday, underscoring the gathering strength of a recovery in Latin America’s largest economy.

• Saturday, December 9th 2017 - 19:12 UTC

  Brazilian economy gradually picking up with growing confidence from investors

  

  Brazil’s economic recovery gained traction in the third quarter, supported by steady family consumption and a rebound in investment. GDP expanded 0.1% from the second quarter and 1.4% from the previous year, the national statistics agency said.

• Friday, December 8th 2017 - 07:49 UTC

  Monsanto confident a soy seed patent dispute in Brazil will uphold

  

  U.S. seeds company Monsanto Co is confident Brazilian courts will uphold its Intacta RR2 PRO soy seed patent despite a challenge from grain growers in the state of Mato Grosso, the company’s chief of South American operations said this week.

• Thursday, December 7th 2017 - 08:35 UTC

  Brazil cuts rates to an all-time low, 7%, and hints at another reduction

  

  Brazil’s central bank cut interest rates to an all-time low on Wednesday and hinted at a smaller reduction early next year, although it said it would be extra cautious going forward. The bank’s nine-member monetary policy committee, known as Copom, cut the benchmark Selic rate by 50 basis points to 7.00%, capping a 725 basis-point decline since October 2016.

• Wednesday, December 6th 2017 - 21:31 UTC

  Peruvian construction companies accused of colluding with Brazil's Odebrecht

  

  Four former and current executives of Peruvian construction companies were detained pending trial, accused of colluding with Brazilian builder Odebrecht to bribe a former president.

• Wednesday, December 6th 2017 - 16:14 UTC

  Brazil services activity in November shrinks the most in nine months

  

  Brazilian services activity in November shrank the most in nine months, a private survey showed on Tuesday, highlighting the nation's uneven recovery from the deepest recession in a century. The Purchasing Managers Index (PMI) for the Brazilian services sector compiled by research firm Markit fell to 46.9 from 48.8 in October. Readings below 50 indicate contraction in activity.