Brazil

Tuesday, August 15th 2017 - 09:34 UTC
Temer and Meirelles discussing with congress leaders budget deficit and cabinet positions

Brazil's government delayed the announcement of looser budget targets for 2017 and 2018, previously expected for Monday, as authorities struggled to estimate revenues given strong opposition in Congress to tax hikes.
Monday, August 14th 2017 - 12:02 UTC
Brazil’s Pre-Salt Extraction Costs Fall To US$8 Per Barrel

By Haley Zaremba from Oilprice - Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed down by allegations of involvement in Brazil’s widespread corruption. But that’s all changing.
Friday, August 11th 2017 - 11:57 UTC
Temer heckled after addressing a business conference in Rio do Janeiro

President Michel Temer, whose popularity is the lowest for a Brazilian head of state in decades and who last week was spared from standing trial on corruption charges by the vote of his allies in Congress, was booed at the conclusion of his appearance at a trade fair in Rio do Janeiro.
Friday, August 11th 2017 - 11:36 UTC
Massive 356 kilos emerald unearthed in northern Brazil

A massive 356 kilos emerald was unearthed recently by miners inside the Carnaiba Mine in Brazil. This incredible emerald specimen stands 1.3 meters tall and is valued at approximately US$ 309 million.
Thursday, August 10th 2017 - 20:05 UTC
Brazil´s annualized inflation in July was 2.71%, the lowest since 1999

Brazilian prices rose in July at an annual rate of 2.71%, the lowest for 18 years, the government statistics office said Wednesday. This was good news for consumers in Latin America's biggest economy, which is inching out of its deepest recession in history, and was considered likely to lead to sharper interest rate cuts.
Tuesday, August 8th 2017 - 20:00 UTC
Brazilian economy on course to a modest growth (2%) next year

Brazilian Central Bank President Ilan Goldfajn said that Latin America's largest economy remains weak though it is on course to show modest growth next year. In an interview with a São Paulo radio station, he said Brazil may achieve growth of 2% in 2018 if the economy continues expanding at its current pace.
Tuesday, August 8th 2017 - 17:28 UTC
Petrobras cuts gasoline prices to regain market share lost to imports

Brazil's Petrobras has reduced prices for the gasoline it sells in Brazil to below parity with the fuel imported from the United States, reducing profit margins to regain market share. The company has sharply reduced the price gap between the value of gasoline sold at its refineries and the spot price in the U.S. Gulf of Mexico since early July, when it announced changes to its pricing to adopt almost daily adjustments, according to fuel market experts.
Tuesday, August 8th 2017 - 17:12 UTC
Brazilian Attorney General describes president Temer as a “thug”

Brazil’s attorney general strongly criticized Congress’ lower house on Monday for voting against putting President Michel Temer on trial for bribery, adding that plea bargains being negotiated could lead to charges of racketeering and obstruction of justice.
Monday, August 7th 2017 - 21:14 UTC
Brazilian army troops storm Rio favelas to crack crime gangs

Thousands of Brazilian army troops raided Rio de Janeiro slums in a pre-dawn crackdown on crime gangs over the weekend, leaving parts of the city looking like a war zone on the first anniversary of the opening of the Olympic Games. Five favelas were targeted by around 1,300 police and 3,600 troops in a sweep starting at 4 a.m., the Rio state security service said in a statement.
Sunday, August 6th 2017 - 22:38 UTC
Bumper crops anticipate tough corn battle between leading exporters US and Brazil

Brazilian farmers are in the midst of collecting their biggest corn harvest ever, and American supplies are also plentiful -- setting the stage for a stiff battle to win world buyers in the second half of the year.