Brazil

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.
Sunday, December 11th 2016 - 21:16 UTC
Brazil: strong rate cuts ahead because of recession, indicate Central bank minutes

Fears of a slower economic recovery in Brazil could pave the way for heftier rate cuts, the central bank said clearly signaling more aggressive monetary easing ahead as the country's worst recession in memory worsens.
Sunday, December 11th 2016 - 21:13 UTC
Petrobras ordered to temporarily suspend divestiture program; court wants to review asset sales

Brazil's federal auditing court (TCU) asked state-controlled oil company Petrobras to temporarily suspend its divestiture program while the court reviews asset sales procedures. The decision could delay Petrobras efforts to raise US$15.1 billion from asset sales by the end of 2016 as a way to reduce its huge debt -- the largest in the global oil industry.
Sunday, December 11th 2016 - 19:56 UTC
Deloitte Brazil admits false auditing and obstructing investigations

The United States accounting watchdog hit Deloitte's Brazil division with a record US$8 million fine for issuing false audits of a US-traded Brazilian airline and then doctoring papers to thwart an investigation, the agency said.
Sunday, December 11th 2016 - 19:53 UTC
Brazil fines five global banks for manipulating exchange rates

Brazil’s antitrust body has slapped five banks with fines worth a combined 183.5 million reais (US$ 54 million) for creating a cartel to manipulate exchange rates, official sources announced. CADE, an office in charge of preventing economic abuse, announced that it had hit Barclays, Citicorp, Deutsche Bank, HSBC and JPMorgan Chase with the fines for participating in anti-competitive activities.
Saturday, December 10th 2016 - 18:06 UTC
Italian national killed in Brazilian favela

Recalculating his route did not become an option for the Italian national Roberto Bardella who was shot and killed by drug dealers, who mistook him for a policeman, after his navigation system led him into the Morro dos Prazeres favela in Rio de Janeiro.
Saturday, December 10th 2016 - 12:18 UTC
Cristina meets Lula and Dilma in Brazil

Former Argentine President Cristina Fernandez Kirchner met with former Brazilian president Luiz Inacio Lula da Silva for an hour and a half at the Lula Institute in the São Paulo district of Ipiranga. Both political leaders discussed the situation of their countries and the region, according to a statement from the LI.
Saturday, December 10th 2016 - 10:06 UTC
Lula accused of helping Saab win US$ 5.6bn defense contract for the air force

Federal prosecutors on Friday filed new criminal charges against Brazil’s former President Lula da Silva for allegedly using his influence for financial gain after he left office. Lula was charged with influence peddling, money laundering and conspiracy.