Tag: Brazil

• Wednesday, November 2nd 2016 - 07:36 UTC

  Brazilian amnesty program for overseas funds collects US$ 15.8bn

  

  The Brazilian government collected 50.9 billion Reais, equivalent to US$15.8 billion in taxes and fines under an amnesty program offered to individuals and corporations with undeclared but legitimate funds parked overseas, the Finance Ministry said on Tuesday.

• Tuesday, November 1st 2016 - 16:25 UTC

  Brazilian chancellor name, Serra emerges in Petrobras investigation, dating back to 2010 campaign

  

  Brazil's current foreign minister Jose Serra name has emerged in the Petrobras investigation of companies, politicians and company's unfaithful officials. The construction group Odebrecht provided two names to the Lava Jato (Car Wash) investigation as being those who carried out operations that transferred R$ 23 million (US$ 7.3 million) from the construction company to the 2010 presidential campaign of Jose Serra, in off-the-books transactions.

• Tuesday, November 1st 2016 - 12:40 UTC

  EMBRAER agrees to pay US$ 205m to settle corruption charges

  

  Brazil's aircraft manufacturer Embraer has agreed to pay some US$205 million to settle corruption charges involving sales of military and civil airplanes to four customers. records to conceal illicit payments.

• Tuesday, November 1st 2016 - 07:57 UTC

  Meirelles insists in overhaul of social security rules to restore public finance order in Brazil

  

  Brazil must push ahead with reforms, including a proposed cap on government spending and an overhaul of social security rules, to restore long-term order to public finances in Latin America's biggest economy, according to the country's finance minister.

• Tuesday, November 1st 2016 - 02:16 UTC

  Brazil municipal elections runoff ratify “non political” candidates

  

  Marcelo Crivella on Sunday won the mayor's race in Rio de Janeiro, beating leftist Marcelo Freixo by a wide margin. Crivella, with the Brazilian Republican party, garnered 59.35% of the votes to 40.65% for Freixo, who is with the Socialism and Freedom Party.

• Wednesday, October 26th 2016 - 05:48 UTC

  Brazilian Lower House votes amendment to cap spending for twenty years

  

  Brazilian President Michel Temer won another victory on Tuesday in his efforts to restore fiscal discipline when the lower house of Congress approved a constitutional amendment to cap spending for 20 years. Heavy public spending, a recession and a massive corruption scandal rocking Brazil's political establishment undermined confidence in Latin America's largest economy.

• Tuesday, October 25th 2016 - 12:20 UTC

  Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

  

  President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference.

• Monday, October 24th 2016 - 17:55 UTC

  Brazil congressional police arrested accused of obstruction of justice

  

  Authorities say they have arrested four Congressional police agents posted inside Brazil's Senate for allegedly obstructing an investigation into lawmakers' suspected involvement in the corruption-kickback scheme at state-owned oil company Petrobras. Federal police said in a statement that those arrested Friday include Pedro Carvalho, head of the Senate police, which is a distinct agency.

• Friday, October 21st 2016 - 18:17 UTC

  Brazilian prosecution after another can of worms, the national development bank, BNDES

  

  Brazil’s national development bank has frozen $13.5bn of funds for 47 overseas projects, including those in Angola, Mozambique, Cuba and the Dominican Republic, as yet more corruption charges are brought against politicians and executives arising from the Lava Jato corruption probe.

• Thursday, October 20th 2016 - 21:11 UTC

  Brazilians reject fiscal discipline policy, and consider Temer's government “bad” or “terrible”

  

  Brazilians have become more dissatisfied with the way President Michel Temer is running their country, a new poll says, as his policy of fiscal discipline continues to generate more public discontent.