Brazil

• Tuesday, October 6th 2015 - 10:42 UTC

  Rio 2016 Olympic Games budget drastically cut

  

  The organisers of the Rio 2016 Olympic and Paralympic Games are making cutbacks of up to 30% to avoid going over the $3.6bn dollars budget. Rio 2016 communications director Mario Andrada said the Brazilian public would not tolerate an overspend.

• Tuesday, October 6th 2015 - 08:11 UTC

  Brazil's GDP expected to contract 2.85% this year, says central bank survey

  

  Economists again cut their outlook for Brazil's economic performance for this year, as consumer and business confidence continue at historic low levels. Brazil's GDP is expected to contract 2.85% this year, according to a weekly central-bank survey of 100 economists, compared with expectations last week for a contraction of 2.80%.

• Monday, October 5th 2015 - 23:20 UTC

  Agricultural expansion main factor of Brazil's deforestation and it's expanding

  

  Agricultural expansion is the chief contributing factor to the deforestation of Brazilian ecosystems and has accelerated in recent years, according to an official study released last week.

• Saturday, October 3rd 2015 - 08:34 UTC

  Check-mate to Brazil's Lower House speaker: he and family have Swiss bank accounts

  

  A group of lawmakers called for the resignation of the speaker of Brazil's lower house of Congress, Eduardo Cunha, after Switzerland provided Brazilian prosecutors with details of Swiss bank accounts in his name.

• Saturday, October 3rd 2015 - 08:11 UTC

  Rousseff reshuffles cabinet and gives more power to key ally PMDB and Temer

  

  Brazilian President Dilma Rousseff on Friday announced a Cabinet reshuffle that reduces the number of posts from 39 to 31 and gives a more significant role to the Brazilian Democratic Movement Party, or PMDB, the country's biggest and a key ally of her Workers' Party.

• Saturday, October 3rd 2015 - 07:55 UTC

  Rousseff's main coalition ally, “110 satisfied” with latest changes, but 'there's some fat left'

  

  Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.

• Thursday, October 1st 2015 - 08:58 UTC

  Rousseff's approval ratings languish: two thirds consider her government “bad or terrible”

  

  Brazilian President Dilma Rousseff's approval ratings languished in September, held down by the country’s economic and political crises, as her opposition in Congress considers opening impeachment proceedings.

• Thursday, October 1st 2015 - 08:51 UTC

  Petrobras hikes gasoline and diesel prices to help with the company's finances

  

  Brazil's state-controlled Petrobras unexpectedly increased wholesale gasoline and diesel prices in the domestic market, potentially widening a controversial premium to international prices. The heavily indebted company said that the gasoline price would increase by 6%, and diesel by 4%, as of this Wednesday.

• Thursday, October 1st 2015 - 08:45 UTC

  Slumping demand from China and Brazil put a drag on world trade, says WTO

  

  The World Trade Organization shaved half a percentage point off its global trade projections for 2015, after a disappointing first half of the year left export growth weakened across the developing world. World merchandise trade volume is expected to rise 2.8% for the year, down from April projections of 3.3%. The WTO also revised its 2016 projections to 3.9%, from 4.0%.

• Tuesday, September 29th 2015 - 06:28 UTC

  Former president says “no way Uruguay can escape the impact of the Brazilian crisis”

  

  Brazilian former president Fernando Henrique Cardoso, (1995/2002) said that the serious economic situation faced by Brazil is very complex, will take time to overcome and most surely the impact will be felt in neighboring Uruguay, a country which must target other markets, other economic spaces.