Brazil

• Friday, May 29th 2015 - 08:45 UTC

  Led by former star Romario, Brazilian Senate opens formal inquiry into country's football

  

  Brazilian police began investigating allegations of corruption in its soccer industry on Thursday, prompted by the arrests of top officials at world soccer body FIFA in a U.S. bribery probe. The country's Senate, led by former national soccer star Romario, who is now a prominent legislator, moved to open a formal inquiry into alleged bribes paid to obtain contracts with the Brazilian Soccer Federation (CBF).

• Wednesday, May 27th 2015 - 04:53 UTC

  Petrobras former director sentenced five years in prison for money laundering

  

  A Brazilian judge has sentenced a former international director at the country's largest corporation and government managed Petrobras to five years in prison for money laundering, the second company executive convicted in an ongoing corruption probe.

• Tuesday, May 26th 2015 - 06:44 UTC

  Argentina invokes unity and rejects proposal for a more 'flexible' Mercosur

  

  Brazil and Uruguay's plan for a more 'flexible' Mercosur to speed negotiations for an encompassing long delayed trade agreement with the European Union have stumbled with the first official reaction from Argentina, which does not agree with the tariffs' proposals policy or individual trade initiatives from member countries.

• Monday, May 25th 2015 - 08:00 UTC

  Brazil/Uruguay expect Paraguay to join in speeding Mercosur/EU negotiations

  

  Uruguay will be hosting Paraguayan president Horacio Cartes in early June when he is expected to confirm' his country's support to Uruguay and Brazil in their renewed approach to accelerate negotiations for the signing of a full cooperation and free trade agreement with the European Union, which were started fifteen years ago.

• Monday, May 25th 2015 - 07:12 UTC

  Iconic London 2012 Games symbol decorates Rio 2016 Olympics Park

  

  The most iconic symbol of the Olympic Games is decorating the city for the Rio 2016 Games. City Hall has installed giant Olympic Rings in Madureira Park, ahead of the largest sporting event in the world.

• Sunday, May 24th 2015 - 08:02 UTC

  President Rousseff to face criminal complaint over 'cosmetic' accounting

  

  Brazil´s main opposition party plans to pursue a criminal complaint against President Dilma Rousseff for 'inventive' accounting that helped shore up the country´s fiscal results in recent years.

• Saturday, May 23rd 2015 - 06:27 UTC

  Brazil announces US$ 22.5bn spending cuts and confirms minister Levy

  

  Brazil finally announced its much expected budget resources reshuffle that will freeze 69.9 billion Reais (22.58 billion dollars) worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the country's investment-grade rating.

• Friday, May 22nd 2015 - 08:16 UTC

  Brazil heading for full recession: economic activity down, unemployment up

  

  Economic activity in Brazil tumbled in the first quarter and unemployment climbed to a near four-year high, adding to signals that a looming recession could worsen as President Dilma Rousseff reins in public spending.

• Friday, May 22nd 2015 - 05:49 UTC

  Brazil and Uruguay on an “urgent and necessary” redesign of Mercosur

  

  Uruguayan president Tabare Vazquez said it was “urgent and necessary” to redesign Mercosur so as to give its members greater 'trade flexibility'. Vazquez made the statements following Thursday meeting with his peer Dilma Rousseff in Brasilia and underlined “it would be naive to admit that Mercosur as it stands currently, is satisfactory”.

• Friday, May 22nd 2015 - 05:42 UTC

  Lagarde preaches fiscal discipline in one of Brazil's most dangerous slums

  

  The head of the International Monetary Fund (IMF) encouraged Brazil on Thursday to pursue fiscal discipline, saying it was needed to protect social programs benefitting the poorest members of society. IMF chief Christine Lagarde made the link during a visit to Complexo do Alemao, one of Rio's largest and most dangerous slums and an example of the challenges the country faces as it struggles with low growth and high inflation