Brazil's oil-exploration and local-content policies harm Petrobras and the country as a whole, a government-appointed member of the state-run company's board said on Tuesday. The comments were made by Roberto Castello Branco, who was named earlier this year by President Dilma Rousseff's administration to be one of the government's seven representatives on Petrobras board.
Brazilian police have carried out search operations across seven states amid an ongoing investigation into a major corruption scandal involving state-run company Petrobras. The police said in a statement on Tuesday that the 53 search and seizure operations took place in residences, offices, company headquarters, law firms, and public institutions and were aimed at saving evidence from destruction.
Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff’s austerity push won’t fully offset plunging government revenues.
Brazil's state-run oil producer Petrobras, said in a securities filing on Friday that its motion to dismiss a class-action lawsuit in the United States had been denied by the court. Petrobras said part of the complaint against the company relating to bonds issued in the United States in 2012 was denied.
Brazil's inflation was little changed at 0.79% in June, rising to 8.89% over the last 12, reported the Brazilian Institute of Geography and Statistics, IBGE, on Wednesday. May's rate was 0.74%. Main price rises accounting for a third of June's inflation included 29.19% for plane tickets, 4.95% in water taxes and gambling rates, officials said.
Russian President Vladimir Putin met on Wednesday with his Brazilian counterpart, Dilma Rousseff at the Siberian city of Ufa, where the Brics group summit is taking place. Previously, Putin had met with president Xi Jinping (China); Jacob Zuma (South Africa) and Indian Prime Minister Narendra Modi, the five countries that make up the group.
Investigators with Brazil’s Finance Ministry say they have identified as much as US$16 billion worth of suspicious activity that may be part of a kickback scandal engulfing the state-owned oil company Petrobras.
Brazilian President Dilma Rousseff said in an interview published Tuesday in the daily Folha de Sao Paulo that there's no reason she should be ousted, so she has no fear being removed. Rousseff went further and accused certain sectors of the opposition of being a bunch of coup mongers.
Brazil' former president Fernando Henrique Cardoso said on Sunday addressing his party's convention, the main opposition force in the Brazilian congress, that the PSDB was ready 'to clear the country of its problems' and accused leader Lula da Silva and the ruling Workers Party (PT) of bankrupting Brazil.
A raft of Brazilian organizations issued a statement on Monday denouncing what they described as the 'right's' attempts to topple President Dilma Rousseff. The statement was signed by 28 groups including the MST Landless Movement and the Catholic Church's Pastoral Land Commission.