Brazil

Monday, October 7th 2013 - 14:27 UTC
Powerful alliance (ecologists and business) emerges to challenge Rousseff

Environmentalist Marina Silva announced that she will not run for the Brazilian presidency in the 2014 polls, and instead will back Eduardo Campos, who will be the nominee for the Brazilian Socialist Party (PSB).
Monday, October 7th 2013 - 13:42 UTC
Claims Canada spied on Brazil’s Mining and Energy Ministry

Canada spied on communications at Brazil's Mining and Energy Ministry, according to Canadian intelligence documents revealed Sunday by Globo television. The documents were leaked by former US intelligence contractor Edward Snowden.
Sunday, October 6th 2013 - 06:51 UTC
Petrobras sells to Shell two oil prospects offshore Uruguay

Brazil’s state-run oil company Petrobras approved the sale of the company's stake in two oil prospects in Uruguay's Punta del Oeste Basin to Royal Dutch Shell Plc for 17 million dollars, according to a filing late on Friday. The two prospects are identified as Blocks 3 and 4.
Thursday, October 3rd 2013 - 22:02 UTC
Minister Swire visit confirms close UK links with Sao Paulo university and research centers

Foreign and Commonwealth Office Minister for Latin America, Hugo Swire is in Sao Paulo the last leg of this latest South American tour that had him in Asuncion, Paraguay and the Brazilian cities of Porto Alegre and Brasília in the beginning of the week.
Thursday, October 3rd 2013 - 21:46 UTC
Brazil industry production unexpectedly stalls in August

Brazilian industry production unexpectedly stalled in August, as factories reduced the output of consumer goods. Industrial output was unchanged in August after tumbling a revised 2.4% in July, the national statistics agency said in Rio de Janeiro.
Thursday, October 3rd 2013 - 21:24 UTC
Brazil offers Paraguay Mercosur chair, but apparently Argentina is not convinced

Brazil offered Paraguay the rotating chair of Mercosur as of next December, as part of an overall understanding to have the landlocked country return to the block, while accepting the incorporation of Venezuela as a full member of the group. Paraguay rejects Venezuela’s membership alleging it was done against the will of its Senate and in breach of national and international law and of the Mercosur charter.
Thursday, October 3rd 2013 - 19:29 UTC
Collapse of a 35bn dollars empire; Brazil’s Eike Batista defaulted on 45 million interest payment

Two days ago, former Brazilian billionaire Eike Batista crossed a line. He started to default on a 45 million dollars interest payments on his oil and gas company, OGX's, bonds. The default will be official on October 30th, according to Bloomberg. That leaves bondholders, like PIMCO, the largest bond fund in the world helmed by legendary investor Bill Gross, taking a massive hit. And what's worse is that there could be more to come, according to the Wall Street Journal.
Thursday, October 3rd 2013 - 19:23 UTC
Brazil, a giant but with “a lot of fat and much in the way of muscle”

Brazil, Latin America's largest economy is in dire need of structural reforms and reduced government bloat to fuel sustainable growth, analysts say. And this will not happen overnight and will take massive political will. A giant but it carries “a lot of fat and not much in the way of muscle”.
Thursday, October 3rd 2013 - 19:17 UTC
Moody’s lowers Brazil’s credit rating to stable from positive: rising debt and weak growth

Brazil’s currency Real declined from its highest level in two weeks after Moody’s Investors Service cited rising debt and weak growth in lowering its outlook on the country’s credit rating to stable from positive.
Wednesday, October 2nd 2013 - 22:51 UTC
Brazil oil and gas output reached an average of 2.495 million boepd during August

Brazil's oil and natural gas output rose for the second time in three months in August as new output from giant offshore fields barely outpaced declines from the depletion of older areas and maintenance, oil industry watchdog ANP said this week.