Brazil

• Monday, January 11th 2016 - 14:09 UTC

  Rioting and clashes with police in Sao Paulo and Rio to complain transport fares

  

  Brazilian riot police on Saturday evening fired tear gas and stun grenades to disperse a violent protest against a rise in public transport fares in the country’s largest city, Sao Paulo. Television images showed small groups of rock-throwing, masked youths clashing with police in the centre of the metropolis, amid burning piles of rubbish.

• Saturday, January 9th 2016 - 11:29 UTC

  Brazilian industry contracts 12.4% in the year to November; auto production down 23%

  

  Brazilian industry contracted in November, breaking all negative estimates as the country’s worst recession in decades deepened. Industrial production declined 2.4% from October in seasonally adjusted terms and 12.4% from November 2014, the Brazilian Institute of Geography and Statistics, or IBGE, said.

• Saturday, January 9th 2016 - 11:26 UTC

  Brazil' inflation hit a 13-year high in 2015, and double the government's target

  

  Brazil's inflation rate hit a 13-year high in 2015, in what analysts called the result of years of economic mismanagement, worsened by a political crisis in Latin America's biggest economy. Annual inflation reached 10.67% in 2015, the government said Friday, the highest rate since 2002 and more than double the government's 4.5% target.

• Friday, January 8th 2016 - 18:15 UTC

  Petrobras plans further 2016/20 investments cuts, says Sao Paulo media

  

  Brazil state-run hydrocarbons giant Petrobras will reportedly present a five-year investment plan next month with a target lower than the US$19 billion plan announced last year. Despite two budget cuts last year, Petrobras' plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.

• Friday, January 8th 2016 - 11:51 UTC

  Rousseff vows 'fiscal belt-tightening' but 'there's no rabbit in the hat' for the current situation

  

  Brazilian president Dilma Rousseff vowed Thursday that her administration would strive for fiscal belt-tightening and look to keep inflation in check in 2016, saying achieving those goals would help lift the economy out of recession.

• Thursday, January 7th 2016 - 08:08 UTC

  Rousseff's unaccomplished promise of no recession or retrocession

  

  On 2 February 2015, Brazilian president Dilma Rousseff sent the Executive message to Congress with her government's plan and promising she would not promote “recession or retrocession.” However eleven months later, Brazil is undergoing full recession and faces retrocession in several areas, having been downgraded by two credit risk agencies.

• Tuesday, January 5th 2016 - 08:34 UTC

  Confirmed: Brazil faces its worst economic plunge in 25 years

  

  Analysts expect Brazil's economy to contract by 2.95% this year after contracting by 3.71% in 2015, marking the biggest drop in economic output in 25 years, the Central Bank said on Monday. The first survey of analysts released this year shows that private sector economists expect the inflation rate to hit 6.87% in 2016.

• Monday, January 4th 2016 - 07:09 UTC

  Brazil's Rousseff faces Olympic political and financial challenges this year

  

  Brazilian President Dilma Rousseff began the new year on the offensive declaring the impeachment proceedings she faces as “unfair” and overruling by veto more than 50 amendments made by lawmakers to the nation’s budget, including reductions to her flagship Bolsa Familia social program.

• Wednesday, December 30th 2015 - 00:51 UTC

  Dismal prospects for Brazilian economy in 2016, according to Central bank and budget deficit

  

  Analysts expect Brazil's economy to contract by 2.81% in 2016 after contracting by 3.70% this year, marking the biggest drop in economic output in 25 years, the Central Bank said on Monday. Economists are forecasting an inflation rate of 10.72% this year, the highest rate in 13 years, and 6.86% in 2016. The estimates seem to be supported by the latest numbers referred to the budget deficit.

• Wednesday, December 30th 2015 - 00:46 UTC

  Petrobras corruption 'net' involves Norwegian companies, claim Oslo media

  

  The huge corruption case swirling around Brazilian oil company Petrobras is being called the world’s largest, and increasing numbers of Norwegian companies seem to be getting tangled up in it. Norwegian bosses mostly claim no knowledge of any bribes being paid, but investigations are underway on several fronts.