Tag: Brazil

• Wednesday, November 23rd 2016 - 16:09 UTC

  Economic crisis hits airline industry in Brazil, Venezuela. Low-cost carrier wants start operating in Argentina

  

  Etihad join list of Asian airlines that continue to drop their routes to South America's biggest market. New low-cost service aims at passengers who do not travel by plane today in Argentina and Venezuelan companies in dire straits to stay operational.

• Tuesday, November 22nd 2016 - 14:10 UTC

  Brazil admits Trump policies could cause a flow out of capital from emerging economies

  

  Brazil's Central Bank (BC) President Ilan Goldfajn said on Monday that the outcome of the US presidential election, won by magnate Donald Trump, brought an element of uncertainty to markets, but reiterated that the institution has kept a close watch on the development of international markets and worked to prevent the effects of “external shocks” from threatening macroeconomic stability.

• Tuesday, November 22nd 2016 - 13:38 UTC

  Fiscal vulnerability of Brazilian economy exposed at a business conference

  

  Brazilian President Michel Temer warned on Monday that the national debt could swell to the size of the country's gross domestic product within eight years should public spending not be brought under control and fiscal reforms not enacted.

• Tuesday, November 22nd 2016 - 09:36 UTC

  Uruguay prepared to receive Lula da Silva if he requests political asylum

  

  President Tabare Vazquez said on Monday that Uruguay recognizes the government of president Michel Temer, respects the decisions of Brazil emerging from its political situation and admitted considering giving asylum to Brazilian politicians, if contemplated under International Law.

• Tuesday, November 22nd 2016 - 09:04 UTC

  “Surreal” to think Lula was not aware of the massive corruption schemes

  

  Former Senator Delcídio do Amaral described as “surreal” the notion that former President Lula da Silva was not aware of a giant corruption scheme active during his tenure, in testimony on Monday marking the start of the trial against the man that ran Brazil from 2003 to 2010.

• Tuesday, November 22nd 2016 - 09:00 UTC

  Santander bank confident of Brazil's “rapid recovery”

  

  President Michel Temer met on Monday with Banco Santander chairman Ana Botin, who expressed the Spanish banking giant's confidence in Brazil's economic future despite the current downturn being experienced by Latin America's largest economy.

• Monday, November 21st 2016 - 10:43 UTC

  Mercosur/EU accord in 2018, following election results in France and Germany

  

  The free trade agreement between Mercosur and the European Union could be concluded in 2018 depending on the election results next year in France and Germane anticipated a Brazilian official during a forum on foreign trade held in Sao Paulo. France is holding presidential elections next May 2017 and Germany some time later.

• Friday, November 18th 2016 - 08:53 UTC

  Former governor of Rio do Janeiro arrested for allegedly embezzling public works funds

  

  The former governor of the Brazilian state of Rio de Janeiro was arrested Thursday for allegedly embezzling funds intended for public works projects, authorities said. Sergio Cabral was apprehended at his home in Rio de Janeiro city's Leblon neighborhood just one day after another former governor of that same state, Anthony Garotinho, was detained on suspicion of attempted vote-rigging.

• Thursday, November 17th 2016 - 08:54 UTC

  Demonstrators break into the Brazilian Lower House

  

  About 50 demonstrators on Wednesday invaded the Brazilian Chamber of Deputies causing chaos and forcing lawmakers to suspend the congressional session. The protesters, who had been demonstrating against social budget cuts outside the chamber, managed to get through the door and into the lower house itself after deceiving security agents tasked with restricting access.

• Wednesday, November 16th 2016 - 09:38 UTC

  IMF anticipates a more gradual recovery of the Brazilian economy than forecasted

  

  International Monetary Fund's executive board said on Tuesday that the Brazilian economy could be close to pulling out of a grueling recession, but faces a long and bumpy recovery that hinges on the approval of unpopular reforms. In its considerations of the IMF staff's annual report on Brazil, the executive board said that despite the new government's efforts to avoid a fiscal crisis they expected a gradual recovery in Latin America's top economy.