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.
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.
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
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.
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.
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.
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.
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.
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.
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.