Brazil

• Tuesday, August 16th 2016 - 06:50 UTC

  Sao Paulo's bull stock market reflects investors' confidence of Brazil's GDP rebound

  

  Brazil's Ibovespa rose on Monday to the highest level in almost two years as an advance in crude oil lifted the shares of Petrobras while estimates for a faster economic recovery fueled bets on companies that rely on domestic demand.

• Tuesday, August 16th 2016 - 06:38 UTC

  Fearful of public's reaction Temer will not attend Rio Olympics closing ceremony

  

  Brazil's interim President Michel Temer's press office informed on late Monday that he will not attend the closing ceremony of the Rio Olympic Games, which will be held on the evening of August 21 at the world-renowned Maracana stadium.

• Monday, August 15th 2016 - 15:09 UTC

  July inflation in Brazil remains over target: 8.74% in twelve months

  

  Inflation in Brazil rose more sharply in July than economists expected, official data showed, raising pressure on the central bank to keep interest rates on hold for some time.

• Monday, August 15th 2016 - 07:19 UTC

  Brazil concerned about the 25% surge of the Real against the US dollar

  

  The Brazilian Real weakened further on Friday after interim President Michel Temer showed concern over currency strength, while stocks edged lower following a heavy batch of quarterly results including state controlled oil company Petrobras.

• Saturday, August 13th 2016 - 08:50 UTC

  Media exposes Brazil congress 'behind the scenes' plot for a 'corruption amnesty' in the Petrobras case

  

  Brazilian financial newspaper Valor Econômico revealed details of an alleged corruption amnesty currently being discussed by lawmakers who have been accused of alleged involvement in the graft scandal at state oil firm Petrobras.

• Friday, August 12th 2016 - 07:08 UTC

  Petrobras Q2 profit tumbles by a third; massive debt condition performance

  

  Brazil's Petrobras reported second-quarter profit that fell by nearly a third from a year earlier, missing expectations as oil prices fell and it took charges for layoffs and the impairment of a refinery. Petrobras said net income fell 30% to 370 million Reais (US$118 million) in the three months ended June 30 compared with a profit of 531 million Reais a year earlier.

• Thursday, August 11th 2016 - 16:40 UTC

  “Moment of truth” for Venezuela's standing in Mercosur

  

  Brazil, Argentina and Paraguay are waiting to see what happens on Friday, 12 August, when Venezuela has to prove that it has complied with all the pending requirements to confirm its Mercosur full membership condition dating back to 2012.

• Thursday, August 11th 2016 - 16:35 UTC

  Venezuela's attitude not helping to resolve the Mercosur situation, claims Uruguay

  

  “Venezuela is not helping much to resolve” the unprecedented situation of Mercosur, said Uruguay's foreign minister Rodolfo Nin Novoa in reference to Venezuela's self proclaimed presidency of the group and which is rejected point blank by Brazil, Argentina and Paraguay who consider the post vacant.

• Thursday, August 11th 2016 - 12:57 UTC

  Brazil running out of corn allows imports to supply pork and poultry sectors

  

  A lower-than-anticipated domestic corn supply is pushing prices up, putting pressure on Brazil’s pork and poultry sectors, and forcing the government to intervene, the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said in its latest report.

• Wednesday, August 10th 2016 - 15:49 UTC

  Brazilian Senate votes to impeach Rousseff, and Temer could cease to be “interim” president

  

  Brazilian Senate has voted to begin the impeachment trial of embattled President Dilma Rousseff, a move that could officially hand over power to her former vice president – current interim president – Michel Temer. The impeachment trial is expected to open around August 25 - four days after the Olympics finish - and go on for five days, ending with a vote in judgment.