Brazil

Tuesday, March 8th 2016 - 14:29 UTC
Senior judges concerned about Lula's arrest but admit “evidence is very serious”

Senior judges in Brazil voiced concern over the detention of former President Lula da Silva, even as they threw their support behind the sweeping corruption investigation that threatens to topple his embattled successor. Lula’s three hours of questioning in police custody on Friday was the highest profile development in the two-year probe focused on state oil firm Petrobras.
Tuesday, March 8th 2016 - 08:03 UTC
Brazil expected to contract 3.5% this year, says Central Bank survey

Analysts expect Brazil's economy to contract by 3.5% this year, the Central Bank said Monday. Private sector economists, who expected the GDP to contract by 3.45% in the previous weekly survey, also raised their inflation projection from 7.57% to 7.59%.
Tuesday, March 8th 2016 - 07:00 UTC
With Lula a weakened myth, Rousseff is fighting for her political life on several fronts

Brazilian President Dilma Rousseff is fighting for her political life in Congress, the courts and streets this week, but her path to survival has got ever narrower, analysts said on Monday. Rousseff faces impeachment proceedings over alleged fiscal mismanagement, while the Supreme Electoral Court is considering possible campaign funding irregularities that could end up annulling her 2014 reelection.
Saturday, March 5th 2016 - 10:33 UTC
Olympics organizers in Rio do Janeiro struggling with tickets, 50% remain unsold

With five months to go before the Olympics in Rio de Janeiro, Brazilian organizers are struggling to sell tickets for South America’s first games. The IOC president Thomas Bach said the locals will buy up tickets at the last minute.
Saturday, March 5th 2016 - 08:59 UTC
Malcorra sides with Lula da Silva, “hard to believe” what he's going through

Argentine foreign minister Susana Malcorra sided with former president Lula da Silva arguing that it is hard to believe that a leader with such a record is under a criminal investigation, and underlined that all the economic and political scenario of Brazil has a great impact in Argentina.
Friday, March 4th 2016 - 21:10 UTC
Brazil political system in shock: police question Lula da Silva for three hours and raid his properties

Brazilian police on Friday questioned former President Lula da Silva for over three hours and searched his home and other properties linked to him and his family, one of the most dramatic developments yet in the sprawling corruption case at the oil giant Petrobras.
Friday, March 4th 2016 - 07:17 UTC
Brazilian GDP contracted 3.8% in 2015, the worst among major economies

Brazil's GDP fared worse than almost any other major economy in 2015, contracting by 3.8%, according to the national statistics agency IBGE. Economic growth in the world's seventh-largest economy has fallen sharply in recent months, which was due partly to low commodity prices and sluggish global growth.
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