Brazil

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.
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.