Brazil

• Thursday, March 3rd 2016 - 05:35 UTC

  Brazilian company admits, in plea bargain, illegal payments to Rousseff presidential campaign

  

  Executives from Brazil's second-largest engineering company, Andrade Gutierrez have testified that the company paid suppliers for President Dilma Rousseff's 2010 electoral campaign off the books, newspaper a Folha de S.Paulo reported on Tuesday.

• Thursday, March 3rd 2016 - 05:27 UTC

  Petrobras loses tax case; discussing sale of assets in Argentina to Pampa Energia

  

  Brazil's state-run oil company Petrobras may be forced to pay 7.3 billion Reais (US$1.9 billion) in back taxes and fines after a decision by the country's tax authority Carf, newspaper Valor Economico reported on Wednesday.

• Thursday, March 3rd 2016 - 05:22 UTC

  Brazil will allow foreign companies to hold a 49% stake in the country's airlines

  

  The government of President Dilma Rousseff has raised from 20% to 49% the maximum stake that foreign companies can hold in Brazilian airlines, according to an executive order signed by the president and published on Wednesday in the Diario Oficial, Official Gazette

• Thursday, March 3rd 2016 - 05:03 UTC

  Brazil leaves key interest rate unchanged at 14.25% for the fifth time running

  

  Brazil's central bank kept interest rates on hold on Wednesday as widely expected, opting to avoid inflicting more harm on an economy mired in its worst recession in decades despite a surge in inflation. In a split vote, the bank's monetary policy committee, Copom, kept its benchmark Selic rate at 14.25% for the fifth straight time.

• Wednesday, March 2nd 2016 - 22:43 UTC

  US becomes a net natural gas exporter for a week with a shipment to Brazil

  

  United States turned into a net natural gas exporter for a week after the first liquefied natural gas export from Cheniere Energy Inc's Sabine Pass terminal in Louisiana left for Brazil. The United States however is not expected to become a net exporter of gas on an annual basis until 2017 after more pipelines to Mexico and LNG export terminals enter service, according to federal energy estimates.

• Wednesday, March 2nd 2016 - 22:39 UTC

  Brazil posts trade surplus in February, as imports plummet with a weak Real

  

  Brazil posted a $3.04 billion trade surplus in February, the Trade Ministry said on Tuesday. Brazil exported $13.3 billion last month and had imports of $10.3 billion.Analysts are expecting a $40 billion trade surplus for 2016, according to a central bank survey released Monday.

• Wednesday, March 2nd 2016 - 07:45 UTC

  Brazil begins reconstruction of Antarctica base “Comandante Ferraz” lost to fire in 2012

  

  A symbolic ceremony launching the reconstruction of Brazil's “Comandante Ferraz” Antarctic base was held at the Chilean Antarctic Institute in Punta Arenas with the attendance of top officials from both countries. The Brazilian base, located in King George Island was a total loss back in February 2012 caused by a fire that started at the power room.

• Wednesday, March 2nd 2016 - 07:08 UTC

  Brazilian police arrests Facebook executive for refusing to release WhatsApp data

  

  Police in Brazil have arrested the vice president of the social media company Facebook in Latin America. Diego Dzodan, an Argentine national, has repeatedly refused to comply with court orders to hand over data for use in a criminal investigation into drugs trafficking, police said. His arrest relates to the messaging service WhatsApp, owned by Facebook.

• Tuesday, March 1st 2016 - 07:32 UTC

  China to the rescue of debt-burdened Petrobras with a US$10bn credit

  

  Bonds issued by Brazil's Petrobras ended one to two points higher on Monday as the beleaguered oil company eased refinancing pressure by clinching a US$10bn loan from China. The US$10bn loan from China Development Bank, which can be repaid in cash or oil, will do much to reduce refinancing risks for what is one of the world's most indebted companies.

• Monday, February 29th 2016 - 20:42 UTC

  Arrest of Rousseff key advisor brings more uncertainty to her administration

  

  A member of Brazilian president Dilma Rousseff’s inner circle who masterminded her two successful election campaigns, Joao Santana is accused by prosecutors of receiving payment for his services in money illegally siphoned from state oil company Petrobras.