Tag: Brazil

• Friday, January 8th 2016 - 18:15 UTC

  Petrobras plans further 2016/20 investments cuts, says Sao Paulo media

  

  Brazil state-run hydrocarbons giant Petrobras will reportedly present a five-year investment plan next month with a target lower than the US$19 billion plan announced last year. Despite two budget cuts last year, Petrobras' plans for the 2016 to 2020 period will include a further drop, with the cuts expected to come from onshore and shallow-water areas, according to a report in the Brazilian daily Estado de S Paulo.

• Friday, January 8th 2016 - 11:51 UTC

  Rousseff vows 'fiscal belt-tightening' but 'there's no rabbit in the hat' for the current situation

  

  Brazilian president Dilma Rousseff vowed Thursday that her administration would strive for fiscal belt-tightening and look to keep inflation in check in 2016, saying achieving those goals would help lift the economy out of recession.

• Thursday, January 7th 2016 - 08:46 UTC

  World bank slashes 2016 global economy growth forecast; points to disappointing “China and Brazil”

  

  World Bank slashed its growth forecast for the global economy in 2016, citing “disappointing” growth in major emerging market economies like China and Brazil. The bank has cut its previous June forecast for global economic expansion in 2016 by 0.4 percentage point to 2.9%, though that is still faster than 2015's sluggish 2.4%, which itself missed an earlier prediction.

• Thursday, January 7th 2016 - 08:08 UTC

  Rousseff's unaccomplished promise of no recession or retrocession

  

  On 2 February 2015, Brazilian president Dilma Rousseff sent the Executive message to Congress with her government's plan and promising she would not promote “recession or retrocession.” However eleven months later, Brazil is undergoing full recession and faces retrocession in several areas, having been downgraded by two credit risk agencies.

• Monday, January 4th 2016 - 07:09 UTC

  Brazil's Rousseff faces Olympic political and financial challenges this year

  

  Brazilian President Dilma Rousseff began the new year on the offensive declaring the impeachment proceedings she faces as “unfair” and overruling by veto more than 50 amendments made by lawmakers to the nation’s budget, including reductions to her flagship Bolsa Familia social program.

• Tuesday, December 29th 2015 - 08:07 UTC

  Israel pressing Brazil to accept pro-settler activist as its ambassador

  

  Brazil’s reluctance to accept an Argentine born pro-settler politician as Israeli ambassador has triggered a diplomatic clash and concerns it could seriously damage future relations between the two countries.

• Thursday, December 24th 2015 - 11:11 UTC

  Capital-strapped Petrobras wants to extend oil and gas fields contracts

  

  Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.

• Thursday, December 24th 2015 - 10:56 UTC

  Brazil is suing BHP and Vale 'at least' US$ 5bn for Minas Gerais mining disaster

  

  A Brazilian federal court has ordered BHP Billiton and Vale to set aside US$ 491.5 million, with the possibility of billions more, has frozen the mining giants' assets in the country, and ordered it to carry out extensive environmental and social work in the region hit by a dam burst at its joint venture.

• Thursday, December 24th 2015 - 08:57 UTC

  Brazilian economy will contract 3.6% this year confirms Central bank

  

  Brazil's economy will shrink 3.6% this year and inflation will come in at 10.8%, according to a Central Bank report released Wednesday. The bank expects a continued recession in 2016, albeit with a less severe contraction of 1.9%, and an inflation rate of 6.2%.

• Wednesday, December 23rd 2015 - 10:07 UTC

  Brazil's Barbosa insists fiscal policies to shrink budget deficit “will be maintained”

  

  Brazil’s new finance minister, Nelson Barbosa, continued his effort to win over investors on Tuesday reiterating that the government of president Dilma Rousseff will maintain the same fiscal policies intended to shrink the budget deficit and cut debt that were favored by his predecessor.