Tag: Brazil

• Monday, May 22nd 2017 - 09:04 UTC

  French financial prosecutors investigating submarines' sale to Brazil

  

  French financial prosecutors have launched an investigation into a 6.7 billion euro (US$7.5 billion) 2008 contract between naval supplier DCNS and Brazil that included the sale of five submarines, it was reported on Sunday in Paris.

• Monday, May 22nd 2017 - 07:15 UTC

  Temer's time running out; economic reforms delayed; possible names to succeed the discredited president

  

  Demonstrators marched across Brazil on Sunday calling for the resignation or ouster of President Michel Temer who is implicated in a widening corruption scandal that is undermining his government's fragile efforts to end a historic recession. Protests took place in cities including São Paulo and Rio de Janeiro, where hundreds of demonstrators marched along the shoreline, chanting and waving banners reading “Temer Out!”

• Sunday, May 21st 2017 - 12:08 UTC

  Temer on the cliff fearful of more tapes. Lula and Rousseff accused of receiving US$ 150 million for campaigns

  

  President Michel Temer faced new pressure to resign Friday, after Brazil’s supreme court said prosecutors are investigating him for obstruction of justice and corruption, and a government witness claimed his company paid US$1.5 million to Temer in bribes. A day after the release of surreptitious audio recordings in which Temer seemed to condone a criminal cover up in the “Car Wash” investigation, the court released testimony accusing him of soliciting illegal payments from meatpacking firm JBS.

• Thursday, May 18th 2017 - 22:37 UTC

  Bovespa plummets 8.8% and Real suffers the largest drop in 14 years

  

  Brazilian markets plummeted on Thursday as allegations that President Michel Temer condoned bribes to silence a key witness deflated investor optimism about the prospects for his ambitious pension and labor reform agenda.

• Thursday, May 18th 2017 - 22:22 UTC

  Temer rejects calls for stepping down: “I will not resign. I repeat, I will not resign”

  

  Brazilian President Michel Temer on Thursday rejected calls for his resignation, saying he will fight allegations that he endorsed the paying of hush money to an ex-lawmaker jailed for corruption. The embattled leader spoke in a national address after Globo newspaper reported Wednesday night that Temer was recorded supporting payments to former Lower House Speaker Eduardo Cunha.

• Thursday, May 18th 2017 - 10:36 UTC

  Brazil faces humanitarian crisis in Venezuelan border as thousands spill over

  

  Brazil is concerned about growing numbers of refugees spilling over its border from Venezuela and is creating a plan to deal with a possible mass influx if the crisis in Venezuela worsens, Brazilian Defense Minister Raul Jungmann said on Wednesday.

• Thursday, May 18th 2017 - 09:03 UTC

  Seism in Brazil: Temer could soon be joining Rousseff at the removed ex presidents' club

  

  Brazil's President Michel Temer faced calls for his removal Wednesday after a newspaper reported that he had been recorded discussing payments of hush money to a corrupt politician. Temer immediately denied the report in O Globo newspaper.

• Wednesday, May 17th 2017 - 21:15 UTC

  Something smells rotten in Brazilian food companies: probes into bribed inspections

  

  Brazilian police on Tuesday opened two separate investigations into whether certain food companies improperly received favorable treatment from the Agriculture Ministry, the latest probe ensnaring the powerful farming sector. The probes into whether inspection procedures were relaxed for meatpacking, dairy and other food companies come two months after industry leaders JBS SA and BRF SA were rocked by allegations of bribing food inspectors.

• Wednesday, May 17th 2017 - 17:44 UTC

  .Brazil seems to be climbing out of the worst recession in history

  

  Brazil is set to show a return to growth, the Central Bank indicated Monday, raising hopes that Latin America’s biggest economy could be inching out of a two-year recession.

• Wednesday, May 17th 2017 - 15:53 UTC

  Petrobras performance improving: largest quarterly earnings in two years

  

  Brazilian state-controlled oil company Petrobras reported its largest quarterly earnings in two years as crude prices rose and the government allowed it to sell fuel at a profit in the domestic market. Petrobras posted a 4.5 billion reais net profit (US$ 1.4bn) in the January to March period, reversing a 1.25 billion reais loss (US$ 400 million) in the first three months of 2016.