Brazil

• Monday, November 28th 2016 - 08:42 UTC

  UK trade envoy in Brazil to promote business in oil, finance, infrastructure and mining sectors

  

  A United Kingdom member of parliament and Special Envoy for Trade and Investment, Mark Prisk is in Brazil for a round of business talks in the oil and gas, financial services, mining and infrastructure sectors. Mr. Prisk is visiting Brazil for the second time in six months and his agenda will take him to Rio do Janeiro, Belo Horizonte and Brasilia.

• Saturday, November 26th 2016 - 13:23 UTC

  Temer administration further weakened by more corruption claims: calls for impeachment

  

  A Brazilian minister resigned on Friday amid allegations that he enlisted President Michel Temer's help to pressure a fellow Cabinet member to approve a luxury apartment development project in a preservation zone. The announcement feeds a growing scandal over alleged misuse of power that threatens Temer's presidency only six months after he replaced a predecessor ousted from office by Congress — and at a time corruption investigations have tarred many senior politicians.

• Thursday, November 24th 2016 - 16:27 UTC

  Odebrecht in world record plea and leniency deal: ready to pay US$ 2 billion for Petrobras corruption

  

  Federal prosecutors and Odebrecht SA have agreed on the world's biggest plea and leniency deal under which the embattled engineering conglomerate would pay around 7 billion Reais (US$ 2 billion) in fines related to its role in Brazil's biggest corruption scandal, local media reported.

• Thursday, November 24th 2016 - 16:09 UTC

  Brazilian cash-strapped states agree to back structural reform in exchange for financial aid

  

  Brazil's federal government reached a deal to help cash-strapped states with their fiscal woes in exchange for support from governors on deeper structural reforms including pension reform and the capping of public employee salaries.

• Wednesday, November 23rd 2016 - 16:09 UTC

  Economic crisis hits airline industry in Brazil, Venezuela. Low-cost carrier wants start operating in Argentina

  

  Etihad join list of Asian airlines that continue to drop their routes to South America's biggest market. New low-cost service aims at passengers who do not travel by plane today in Argentina and Venezuelan companies in dire straits to stay operational.

• Wednesday, November 23rd 2016 - 15:07 UTC

  Prosecution warns Congress planning to shut down Petrobras investigation: “the corrupt have a lot of power”

  

  The top prosecutor in Brazil's biggest ever corruption investigation has called on the public to rally around the operation in the face of attempts to shut it down. There are fears that Congress while passing anti corruption measures would also include in an unofficial amnesty for existing cases.

• Wednesday, November 23rd 2016 - 15:03 UTC

  Petrobras case connections in Geneva targeted by Swiss prosecution

  

  The Office of the Attorney General of Switzerland has opened criminal proceedings against a former senior executive at the Geneva-based commodity trader Trafigura. The case is reportedly linked to corruption involving the Brazilian state-run oil company Petrobras.

• Tuesday, November 22nd 2016 - 14:10 UTC

  Brazil admits Trump policies could cause a flow out of capital from emerging economies

  

  Brazil's Central Bank (BC) President Ilan Goldfajn said on Monday that the outcome of the US presidential election, won by magnate Donald Trump, brought an element of uncertainty to markets, but reiterated that the institution has kept a close watch on the development of international markets and worked to prevent the effects of “external shocks” from threatening macroeconomic stability.

• Tuesday, November 22nd 2016 - 13:38 UTC

  Fiscal vulnerability of Brazilian economy exposed at a business conference

  

  Brazilian President Michel Temer warned on Monday that the national debt could swell to the size of the country's gross domestic product within eight years should public spending not be brought under control and fiscal reforms not enacted.

• Tuesday, November 22nd 2016 - 09:36 UTC

  Uruguay prepared to receive Lula da Silva if he requests political asylum

  

  President Tabare Vazquez said on Monday that Uruguay recognizes the government of president Michel Temer, respects the decisions of Brazil emerging from its political situation and admitted considering giving asylum to Brazilian politicians, if contemplated under International Law.