Tag: Brazil

• Thursday, December 3rd 2015 - 08:41 UTC

  Brazil political crisis escalates: Congress initiates impeachment proceedings against president Rousseff

  

  The speaker of Brazil's lower house of Congress, Eduardo Cunha has announced plans to open impeachment proceedings against President Dilma Rousseff, allegedly on violation of fiscal legislation. In practical terms this means further political upheaval in the months ahead in a country that has been rocked by the steepest recession in 25 years, job losses, and a corruption scheme of planetary proportions in oil giant Petrobras.

• Wednesday, December 2nd 2015 - 12:38 UTC

  Brazil's worst mining disaster will stress test 'king iron' Vale's resources

  

  Brazil's deadly mining disaster could cost Vale SA at least US$443 million, but it is too early to put a price tag on what it expects to be a long clean-up from the pollution spilled when the toxic dam burst.

• Wednesday, December 2nd 2015 - 11:08 UTC

  Macri to meet Rousseff Friday: trade, Mercosur and Venezuela in the agenda

  

  Next Friday Argentine president elect Mauricio Macri will be travelling to Brasilia to meet with president Dilma Rousseff, which will be the incoming leader's first overseas trip.

• Wednesday, December 2nd 2015 - 11:00 UTC

  Brazilian executive order to further cut budget spending

  

  Brazilian government said in an executive order published Monday in the Official Daily that it was cutting spending by an additional 11 billion reais ($2.82 billion) this year. The move is part of an effort by the government to a budget deficit target of 1 percent of the gross domestic product, a goal agreed to during the last budget review.

• Wednesday, December 2nd 2015 - 10:45 UTC

  Brazilian economy contracts a record 4.5% in the last twelve months

  

  Brazil's economy, in recession since mid-year, contracted 1.7% in the third quarter, compared to the April-June period, and decreased 4.5% relative to the same period in 2014, the Brazilian Institute of Geography and Statistics, or IBGE, said on Tuesday.

• Wednesday, December 2nd 2015 - 09:28 UTC

  China and Brazil agree on further cooperation and on climate change

  

  Chinese President Xi Jinping and Brazil's Dilma Rousseff met in Paris on the sidelines of the ongoing climate talks, and agreed to strengthen cooperation in a number of areas including a common position regarding global warming.

• Tuesday, December 1st 2015 - 07:45 UTC

  Brazil on alert on possible link between Zika virus and micro-cephalic babies

  

  Brazilian health authorities, who alerted the nation Monday to the rapid spread of the Zika virus, confirmed that up to now it has caused one death and that another six victims are in critical condition and under medical examination.

• Tuesday, December 1st 2015 - 07:35 UTC

  Brazil's economy expected to further contract, according to the Central bank

  

  Analysts expect Brazil's economy to contract by 3.19% this year, with inflation hitting 10.38%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

• Tuesday, December 1st 2015 - 07:32 UTC

  Petrobras board chairman resigns; apparent disagreements with CEO Bendine

  

  Murilo Ferreira has resigned as chairman of Brazilian state oil company Petrobras, the firm said Monday. Ferreira, the CEO of mining giant Vale, took a leave of absence in September and Luiz Nelson Guedes de Carvalho, who has served as interim chairman since then, will continue in that role for the moment, the company said in a brief statement.

• Sunday, November 29th 2015 - 09:51 UTC

  Brazil plans to sue mining companies US$ 7.2bn on toxic mud spill

  

  Brazil's federal and state governments plan to sue the owners of the Samarco iron ore-miner for 20 billion Reais ($7.2 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday.