Brazil

• Thursday, August 24th 2017 - 09:54 UTC

  Ex president Lula admits he might have to step down as candidate in 2018

  

  Former Brazilian president Lula da Silva told Reuters on Wednesday that his recent conviction for corruption might mean that his Workers Party will have to field a candidate other than him in next year's election.

• Wednesday, August 23rd 2017 - 09:55 UTC

  Temer prepared to privatize one of Brazil's jewels of the crown

  

  Brazil's surprise move to privatize Centrais Eletricas Brasileiras SA sent the utility's shares soaring nearly 50% on Tuesday as investors bet the plan augured further moves to loosen the government's grip on the economy.

• Sunday, August 20th 2017 - 13:14 UTC

  Batista family, Brazilian meatpacker JBS main shareholder face several civil lawsuits

  

  JBS SA will proceed with plans to list a U.S.-based unit when market conditions allow, as the world's No. 1 meatpacker wrestles with a shareholder revolt over the role of the controlling Batista family in a massive graft scandal. In a conference call to discuss second-quarter results, CEO Wesley Batista said JBS Foods International Inc could be listed by the end of next year, once parent JBS finalizes 6 billion Reais (US$1.9 billion) in asset sales to cut debt and restore investor confidence.

• Saturday, August 19th 2017 - 08:31 UTC

  UK envoy in Brazil promotes trade and scientific cooperation

  

  Mark Prisk, the UK’s trade envoy to Brazil makes his first visit to Recife this year with the purpose of increasing dialogue between the region and United Kingdom. He will discuss topics such as trade, smart cities and the UK government’s international awards scheme, Chevening in bilaterals with Porto Digital and Fiepe. The Trade Envoy was previously in São Paulo in where he held meetings with government and private sector representatives.

• Friday, August 18th 2017 - 21:10 UTC

  Brazilian economic activity (and optimism) picking up

  

  Economic activity in Brazil expanded at a faster pace than expected in June, the latest in a batch of reports suggesting an economic recovery may be taking hold. Economic activity rose 0.50% from May after seasonal adjustments, the central bank said on Thursday.

• Tuesday, August 15th 2017 - 10:45 UTC

  Brazil opens first corn ethanol plant; the country leads in sugarcane ethanol

  

  Brazilian company FS Bioenergia inaugurated a corn ethanol plant, the first in the country, to produce 210 million liters year. The plant was built by a joint venture between the local agro-company Fiagril and US-based Summit Agricultural Group with investments of BRL 450 million (US$ 141.1m), said the Ministry of Agriculture, Livestock and Farming.

• 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.