Brazil

• Tuesday, September 22nd 2015 - 06:49 UTC

  Brazil's Real at almost four to the US dollar; 70% weaker in the last 12 months

  

  Brazil’s currency closed on Monday at the weakest level ever against the dollar as raging economic and political situations increased uncertainty and the odds of the country losing its investment-grade credit rating from yet another ratings company, which could be catastrophic.

• Monday, September 21st 2015 - 07:18 UTC

  Brazil Justices ban corporate contributions to political campaigns and parties

  

  Brazil's Supreme Court banned corporate contributions to political campaigns and parties, a hot issue as investigators in the country's biggest corruption scandal say such financing was used by businesses to win lucrative contracts with state-run oil company Petrobras.

• Friday, September 18th 2015 - 07:37 UTC

  Brazil opposition parties file request in Congress to impeach Rousseff

  

  Brazil's opposition parties on Thursday filed a request in Congress to impeach President Dilma Rousseff for breaking fiscal rules by allegedly manipulating government finances to benefit her re-election last year. The request was backed by some members of Rousseff's main political ally, the fractious PMDB party, Brazil's largest, whose votes would be needed to succeed in ousting the president.

• Thursday, September 17th 2015 - 21:18 UTC

  Interim CEO for Petrobras as Murilo Ferreira takes leave of absence and returns to Vale

  

  The Chairman at Petrobras, Murilo Ferreira, has taken a leave of absence from his position till November 30. It is speculated that he wants to give his entire attention towards his role as Vale SA’s CEO.

• Thursday, September 17th 2015 - 09:45 UTC

  Petrobras oil/gas production in August sets new records; subsalt output up 61% in twelve months

  

  Brazil's state-controlled Petrobras produced a record 2.69mn b/d of oil equivalent (boe/d) in August, 3.1% increase over July and almost 1% higher than the previous 2.67mn boe/d record set in December 2014, the company said on Wednesday.

• Thursday, September 17th 2015 - 08:46 UTC

  Embattled Rousseff argues countries are not defined by their credit ratings

  

  Embattled and leaner Brazilian President Dilma Rousseff said on Wednesday that a country is not defined by its credit rating, downplaying Standard & Poor's decision to assign junk status to Latin American largest economy's sovereign debt.

• Wednesday, September 16th 2015 - 09:45 UTC

  Rousseff's latest austerity measures, 'hard to pass' warn congress leaders

  

  President Dilma Rousseff's latest austerity plan to rescue Brazil's sinking economy faced a cold reception Tuesday, with Congress raising questions over whether the measures will win approval. The speaker of the lower house of Congress and one of Rousseff's chief foes, Eduardo Cunha, dismissed the measures as “pseudo cuts” and predicted they would not easily pass.

• Wednesday, September 16th 2015 - 09:34 UTC

  Two close associates of Lula da Silva will face trial on the Petrobras scandal

  

  Two leading figures associated with Brazil's ruling Workers' Party will face trial over their alleged roles in the Petrobras graft scandal, authorities confirmed Tuesday.A judge has accepted to take on the case brought against Jose Dirceu, a former chief of staff under ex-president Lula da Silva (2003-2010), and who prosecutors say masterminded the bribes and embezzlement scheme skimming huge sums from the state oil giant.

• Tuesday, September 15th 2015 - 10:13 UTC

  Brazil announces measures to balance budget; it includes controversial tax on financial transactions

  

  Brazil's government announced on Monday spending cuts and tax increases totaling 65 billion Reais ($16.9 billion) as it races to close a budget deficit that led to a downgrade of the country's credit rating last week.

• Tuesday, September 15th 2015 - 09:40 UTC

  Lula 'intimately' wants Dilma removed from office, says O Estado de Sao Paulo

  

  Former Brazilian president Lula da Silva, “intimately celebrates” a possible political action that would remove president Dilma Rousseff from the Planalto Palace, according to one of the country's most respected and serious dailies, O Estado de Sao Paulo.