Brazil

• Wednesday, November 4th 2015 - 08:07 UTC

  Brazilian construction tycoon sentenced to 19 years in prison for Petrobras corruption scandal

  

  The federal judge handling the Petrobras corruption cases sentenced the former vice president of Brazilian engineering firm Mendes Junior to 19 years and four months in prison for his role in the massive kickback scheme.

• Tuesday, November 3rd 2015 - 09:58 UTC

  Brazil oil workers stage national strike and stopped operations at 22 rigs

  

  Oil workers staging a national strike in Brazil said on Monday they had stopped all operations at 22 of state-controlled oil giant Petrobras's 44 rigs in the Campos basin, an offshore area that accounts for about 80% of the country's oil output. Oil workers declared a strike on Sunday.

• Tuesday, November 3rd 2015 - 06:42 UTC

  Petrobras import of US condensate help address refining shortage, but faces tax controversy in Brazil

  

  Petrobras’ move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the state-run company to import the light oil duty-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in oil or natural gas wells and in raw form is not taxable in Brazil.

• Tuesday, November 3rd 2015 - 06:29 UTC

  Brazil and EU agree on biosecurity measures for horse sports in RIO 2016 Games

  

  Brazil and the European Union have reportedly settled biosecurity-related arrangements that will allow the passage of sport horses in and out of Rio de Janeiro for next year’s Olympics. However, details of any deal have yet to be posted on website of the Olympic Public Authority in Brazil, or the main Games website, Rio2016.com. Details of the deal are expected to be released this week.

• Monday, November 2nd 2015 - 09:30 UTC

  Petrobras largest union on strike protesting sale of company's assets

  

  Brazil's largest oil union began an open-ended strike on Sunday, protesting against attempts by the government to shrink the state-run oil company Petrobras, which is reeling from a corruption crisis and a crash in the oil price.

• Monday, November 2nd 2015 - 08:43 UTC

  Brazilian central bank opposes using the country's US$ 370bn reserves

  

  Brazil's central bank chief, Alexandre Tombini, told lawmakers he opposes using the country's $370 billion foreign reserves at this moment as they serve as an insurance policy for Latin America's largest economy.

• Monday, November 2nd 2015 - 08:26 UTC

  Lula urges ruling party to support austerity measures and minister Levy

  

  Former Brazilian president Lula da Silva urged the ruling Workers' Party to back fiscal austerity measures in Congress, endorsing the efforts of Finance Minister Joaquim Levy to plug a gaping deficit. Members of Lula's party have opposed moves by Lula's protégée, President Dilma Rousseff, to cut public spending and social benefits as she strives to balance overdrawn accounts and restore investor confidence in Brazil.

• Saturday, October 31st 2015 - 09:40 UTC

  UK and Brazil committed to exchange of EU/Mercosur market access offers by end of 2015

  

  The United Kingdom and Brazil reaffirmed on Friday their support for the success of the European Union/Mercosur Association agreement negotiations in the framework of the eighth meeting of the UK-Brazil Joint Economic and Trade Committee (JETCO) which emphasizes bilateral cooperation and initiatives.

• Saturday, October 31st 2015 - 06:42 UTC

  Unemployment in recession-hit Brazil climbing: 8.8 million looking for jobs

  

  Unemployment in recession deep Brazil climbed to 8.7% of active population in the quarter ending last August, the government said Thursday. The indicator shows a steep hike from the 6.9% recorded in August 2014, according to statistics of the National Study of Households (PNAD), published by the state Brazilian Institute for Geography and Statistics (IBGE).

• Thursday, October 29th 2015 - 06:53 UTC

  On Amazon Day, Minister Swire praises Brazil as champion on climate change and tackling deforestation

  

  Describing Brazil as a valued partner of Britain, and champion on climate change and tackling deforestation, Minister of State for Latin America, Hugo Swire, attended on Wednesday the Amazon Day 2015 at the Brazilian embassy where he also met with ministers Texeira, Levy and Coutinho who are in London for the first UK-Brazil economic and financial dialogue round.