Brazil

Thursday, April 9th 2015 - 03:28 UTC
Brazilian ruling coalition members sign letter pledging to support austerity package

Brazilian congressional leaders within President Dilma Rousseff's coalition signed a joint letter on Wednesday pledging to support her austerity package, an unexpected sign that the ties with her unruly coalition are improving. The deal was brokered by Vice President Michel Temer on his first day as the official go-between tasked with mending Rousseff's tense relations with coalition lawmakers.
Thursday, April 9th 2015 - 01:35 UTC
Brazil inflation soars as electricity rates go up 22% in March and 60.42% in the last 12 months

Consumer prices in Brazil picked up in March, putting the 12-month rate at the highest level in more than eleven years, highlighting one of the main challenges facing Latin America's largest economy in the year ahead. The rolling 12-month IPCA was up 8.13% through March, up from 7.70% in February, remaining well above the central bank's 6.5% ceiling. In the first quarter of the year, prices have risen 3.83%, while the 12-month figure marked the highest level since December 2003, when it reached 9.30%.
Wednesday, April 8th 2015 - 18:26 UTC
Santos port soy exports expected to resume at slow pace after six-day fire

Brazil’s soy exports will likely slow because a six-day fire at a nearby fuel-storage facility has restricted access to Brazil’s largest port, Santos, a port official and the soy industry association Abiove said. Authorities have agreed to restrict truck access to some terminals at the port at least through Wednesday while flames are extinguished.
Monday, April 6th 2015 - 17:15 UTC
Santos port four-day fire raging; efforts concentrated in stopping flames from spreading

A fire at a fuel storage facility near Brazil's largest port Santos entered its fourth day on Sunday as 110 firefighters worked to stop the flames from spreading further, the local fire department said.
Monday, April 6th 2015 - 16:56 UTC
Brazilian economy to contract 2% this year, and inflation 9% predicts French bank

BNP Paribas said in Sao Paulo that it expects Brazil's gross domestic product to shrink 2% this year, or double the contraction the French financial services company had projected one quarter ago.
Thursday, April 2nd 2015 - 08:20 UTC
Brazil’s industrial production drops in February; 11 out of 24 sectors down

Brazil's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.
Thursday, April 2nd 2015 - 07:31 UTC
Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.
Thursday, April 2nd 2015 - 07:27 UTC
Rousseff “we will do whatever it takes to meet 2015 fiscal target”

Brazil's government will do whatever it takes to meet its 2015 fiscal target, President Dilma Rousseff said on Tuesday in an interview with Bloomberg News.
Tuesday, March 31st 2015 - 12:08 UTC
Brazil's development bank admits losses of 800m dollars on Petrobras stock

Brazil's state-run National Development Bank posted healthy profits Monday, but indicated losses of some 800 million dollars on its stock in Petrobras, whose market value has plunged on a graft scandal and lower oil prices.
Tuesday, March 31st 2015 - 10:13 UTC
Brazil ready to join China's Asian Investment bank; (Argentina any moment)

The Asian Infrastructure Investment Bank, AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.