Brazil

• Tuesday, December 20th 2016 - 08:57 UTC

  Brazil's Vale sells its fertilizer business to cut debt

  

  Brazil's Vale, the world’s largest iron ore and nickel miner said on Monday it will sell most of its fertilizer business to US-based Mosaic Co., the No.1 producer of phosphate fertilizer, in a deal worth about US$2.5 billion.

• Monday, December 19th 2016 - 08:04 UTC

  Another major clash between Brazil's Supreme Court and Congress in the making

  

  Another major clash between Brazil's Supreme Court and Congress in the making. Justice Luiz Fux ruled to return the anti-corruption bill back to its initial stages in the Lower House, despite the fact the fill had already reached Senate and was preparing to put the bill to a vote.

• Saturday, December 17th 2016 - 00:24 UTC

  Petrobras sells ethanol assets as it moves out of the biofuels industry

  

  Brazil's oil company Petrobras has agreed to sell its 49% stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras will receive 24 million new São Martinho shares as payment for the stake. Petrobras said in the filing that it will attribute a US$133 million value to the deal.

• Friday, December 16th 2016 - 09:02 UTC

  Lula faces new corruption charges, but he leads polls for 2018 presidential election

  

  New corruption charges linked to Brazil's massive embezzlement scheme at Petrobras oil company were filed on Thursday against former president Lula da Silva, prosecutors said. A judge will now have to decide whether Lula, whose spokesman called the charges “invented,” should face trial.

• Friday, December 16th 2016 - 08:50 UTC

  Simulus measures in Brazil to appease recession and Temer's tumbling credibility

  

  Brazilian President Michel Temer on Thursday unveiled a raft of stimulus measures to reduce the debt burden of businesses and consumers struggling with the country's worst recession on record amid growing popular discontent. Although limited in scope, the measures aim to appease Brazilians angry at the deepening recession in Latin America's biggest economy and allegations of corruption against Temer and his closest allies.

• Thursday, December 15th 2016 - 13:03 UTC

  Temer talks to Trump and they agree to promote trade and investments

  

  Brazil's President Michel Temer called U.S. President-elect Donald Trump agreeing to work together to improve business relations between the two largest economies in the Americas, a statement from Temer's office said. Brazil is keen to explore business opportunities that could open up if Trump follows through on campaign promises to rewrite a trade deal with Mexico.

• Thursday, December 15th 2016 - 10:41 UTC

  No end to ministerial pin bowling in Temer's cabinet

  

  One of Brazilian President Michel Temer's closest aides resigned on Wednesday following allegations he had received graft money from engineering conglomerate Odebrecht in a widening corruption scandal that is besieging the government.

• Wednesday, December 14th 2016 - 09:21 UTC

  Yesterday Colombia, now Venezuela closes border with Brazil

  

  The government of President Nicolas Maduro government closed the border with Brazil for 72 hours for the same reason it had taken the same measure with Colombia: money smuggling, Brazilian local authorities and residents of southern Venezuela who routinely cross to Brazil where they can make transactions in bolivars confirmed.

• Wednesday, December 14th 2016 - 08:16 UTC

  Airlines operating in Brazil allowed to charge for pax' luggage: lower fares?

  

  The Brazilian government authorized airlines operating in the country to charge for passengers luggage, among other rules that are scheduled to become effective on 14 March 2017. The new rules were approved unanimously and made public on Tuesday by the country's air transport regulator National Civil Aviation Agency, ANAC.

• Tuesday, December 13th 2016 - 15:42 UTC

  Temer preparing stimulus measures to prop the economy and his political future

  

  President Michel Temer, fighting for survival over corruption allegations against him and his government, is planning new measures to jump start Brazil's stalled economy, improve his dismal approval ratings and stifle calls for his resignation.