Tag: Brazil

• Tuesday, September 8th 2015 - 08:54 UTC

  Brazil confident it can stand 'first period of volatility' if Fed raises rates

  

  Brazil is well prepared to cope with any market volatility resulting from a U.S. interest rate rise, Finance Minister Joaquim Levy said on Monday. The minister told a meeting in Madrid that Brazil's banks were well capitalized and the country has large foreign exchange reserves.

• Tuesday, September 8th 2015 - 06:01 UTC

  Rousseff leads Independence Day celebrations with tight security and no speech fearing pot banging

  

  Brazilian Independence Day celebrations were marked Monday by the extra security surrounding President Dilma Rousseff during the ceremonies in Brasilia. Rousseff, in the official Rolls Royce with the top down and wearing the presidential ribbon, led the military parade for 2 kilometers before taking part in the program of events prepared by the armed forces.

• Monday, September 7th 2015 - 10:09 UTC

  Brazil's Lula da Silva supports Scioli as Argentina's next president

  

  Former Brazilian head of state Lula da Silva joined the Argentine presidential electoral campaign and made public his support for the incumbent Daniel Scioli in the October dispute, stating that the Victory Front candidate would maintain strong relations with Brazil

• Saturday, September 5th 2015 - 06:35 UTC

  Rousseff is a 'fighter' but “no one can hold on for 3.5 years with a 70% disapproval rating”

  

  Brazilian Vice President Michel Temer said it would be difficult for head of state Dilma Rousseff to last until the scheduled end of her second presidential term in 2018 without a rise in her approval rating, which currently stands at just 8%, the local press reported Friday.

• Friday, September 4th 2015 - 09:00 UTC

  First oil production off Rio de Janeiro with FPSO 'Cidade de Itaguai', five months ahead of schedule

  

  MODEC Inc. announced on Thursday that its FPSO 'Cidade de Itaguai MV26', operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.

• Thursday, September 3rd 2015 - 08:30 UTC

  Brazilian industrial production plummets in July: 8.9% from a year earlier

  

  Brazil's industrial production plummeted in July and fell well below economists' worst predictions. Industry output sank 1.5% in July from June in seasonally adjusted terms and was down 8.9% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. The IBGE also revised June's drop to 0.9% from 0.3% from the previous month.

• Thursday, September 3rd 2015 - 07:21 UTC

  Rousseff pledges to reduce budget deficit; denies Levy was stepping down

  

  President Dilma Rousseff vowed on Wednesday to take new measures to reduce the deficit her administration is projecting for 2016, without ruling out more spending cuts and additional taxes in Brazil. The 2016 budget unveiled on Monday projected Brazil’s first-ever primary fiscal deficit, before payment of interest on the national debt, sparking controversy.

• Thursday, September 3rd 2015 - 07:13 UTC

  Brazilian VP calls on business community for a 'national alliance'

  

  President Michel Temer asked business owners and executives for a “national alliance” to deal with Brazil's political crisis and shaky economic situation. Temer is leader of the centrist PMDB, the main governing partner of Rousseff's center-left Workers Party, PT.

• Wednesday, September 2nd 2015 - 08:06 UTC

  Petrobras union announces an 'open-end' strike to protest investment cuts

  

  Brazil's largest oil workers' union advised Petrobras that it plans to begin an open-ended strike against the state-run oil company starting at midnight (0300 GMT) on Friday. The strike is in protest at a recent cut of about 40% in investments by Petrobras and the planned sale of about $15.1 billion of assets, the union, known as FUP, said in a statement on Tuesday.

• Wednesday, September 2nd 2015 - 06:43 UTC

  Lula da Silva's top advisor charged for alleged involvement in Petrobras corruption

  

  Police on Tuesday asked prosecutors to file charges against Brazil's former presidential chief of staff, Jose Dirceu, and top advisor of former president Lula da Silva, for alleged involvement in the massive corruption scheme at state-owned oil company Petrobras.