Tag: Brazil

Thursday, February 2nd 2017 - 11:12 UTC
Industrial output in Brazil dropped 6.6% last year compared to 2015

Brazil's industrial output rose in December at its fastest monthly pace in two and a half years, in a likely one-time boost that did not reverse the sharp losses of one of the worst years on record for local manufacturers.
Tuesday, January 31st 2017 - 21:56 UTC
Brazil to lift restrictions on foreign ownership of airlines and farm land

President Michel Temer will propose legislation to lift restrictions on foreign ownership of airlines and agricultural land in Brazil as he strives to pull the economy out of a two-year recession, government sources said on Monday.
Tuesday, January 31st 2017 - 21:03 UTC
Brazilian government is “meeting its budget deficit”, says minister Meirelles

Brazil's central government registered a primary budget deficit of 154.255 billion reais (US$49.40 billion) in 2016, meeting its target but recording a third consecutive annual deficit that reflects the dire state of the country's finances. In December, the country posted a primary deficit of 60.124 billion reais (US$19.25 billion).
Tuesday, January 31st 2017 - 12:07 UTC
Brazil's ex richest man jailed on return from US; he is linked to the Petrobras scandal

Former Brazilian billionaire Eike Batista on Monday turned himself in to police in Rio de Janeiro on Monday on charges related to the Petrobras corruption scandal. He was detained shortly after arriving from New York.
Thursday, January 26th 2017 - 07:38 UTC
Plane that crashed killing Brazil's top Justice did not suffer “obvious mechanical failure”

The small plane carrying a Brazilian Supreme Court justice overseeing a political bribery investigation did not suffer any obvious mechanical failure when it crashed into a bay amid heavy rain and killed all five on board, investigators said this week.
Monday, January 23rd 2017 - 19:01 UTC
Temer has the delicate task of naming a successor of Justice Zavascki

Brazil's president Michel Temer said that he would wait to name a replacement for the Supreme Court justice who died in a plane crash until after the court reassigns a major corruption case he was handling.
Friday, January 20th 2017 - 12:42 UTC
Brazil in shock: Justice investigating country's major corruption dies in air crash

Brazil's President Michel Temer on Thursday evening made an official statement to mourn the death of Supreme Court judge Teori Zavascki, who was killed earlier in the day in a plane crash. Temer declared three days of national mourning in Brazil for the death of the Justice, who was in charge of the court's investigation into a wide-ranging corruption scandal.
Thursday, January 19th 2017 - 08:00 UTC
Brazil confident in “recovery curve” coming from a very low level, says Meirelles

Brazil's Finance Minister Henrique Meirelles has admitted that the government is going to revise its official forecast for this year's GDP growth, but gave no details as to the extent of the change. In its latest forecast, the government had estimated the economy was going to grow 1% in 2017.
Friday, January 13th 2017 - 12:37 UTC
Brazil retakes wheat imports, the highest in three years

Brazilian officials ditched expectations of a tumble in wheat imports to a multi-year low after a surprisingly strong finish to 2016 for buy-ins, encouraged by a recovery in the real and state purchases of domestic supplies. Conab - which a month ago slashed its forecast for Brazil's wheat imports in 2016-17 [on an August-to-July basis] to 5.10m tonnes, the lowest since at least the mid-1990s – this week revised its forecast sharply upwards, to 5.95m tonnes.
Friday, January 13th 2017 - 11:19 UTC
Petrobras pre-salt oil production set a new record in 2016

Petrobras’ average oil production in Brazil in 2016 went up 0.75% in comparison to the previous year and reached 2,144,256 barrels per day. According to the company, the result was in line with the established target of 2.145 million and represents an annual all-time high.