Tag: Brazil

• Monday, April 6th 2015 - 16:56 UTC

  Brazilian economy to contract 2% this year, and inflation 9% predicts French bank

  

  BNP Paribas said in Sao Paulo that it expects Brazil's gross domestic product to shrink 2% this year, or double the contraction the French financial services company had projected one quarter ago.

• Monday, April 6th 2015 - 06:20 UTC

  International legal actions against Petrobras keep climbing

  

  One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individually from the Brazilian oil group.

• Thursday, April 2nd 2015 - 08:20 UTC

  Brazil’s industrial production drops in February; 11 out of 24 sectors down

  

  Brazil's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.

• Thursday, April 2nd 2015 - 07:31 UTC

  Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

  

  The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.

• Thursday, April 2nd 2015 - 07:27 UTC

  Rousseff “we will do whatever it takes to meet 2015 fiscal target”

  

  Brazil's government will do whatever it takes to meet its 2015 fiscal target, President Dilma Rousseff said on Tuesday in an interview with Bloomberg News.

• Tuesday, March 31st 2015 - 12:08 UTC

  Brazil's development bank admits losses of 800m dollars on Petrobras stock

  

  Brazil's state-run National Development Bank posted healthy profits Monday, but indicated losses of some 800 million dollars on its stock in Petrobras, whose market value has plunged on a graft scandal and lower oil prices.

• Tuesday, March 31st 2015 - 10:13 UTC

  Brazil ready to join China's Asian Investment bank; (Argentina any moment)

  

  The Asian Infrastructure Investment Bank, AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.

• Saturday, March 28th 2015 - 11:15 UTC

  Brazil just managed to skim recession last year with 0.1% growth but is expected to shrink in 2015

  

  Brazil's economy grew just 0.1% last year, barely keeping the country out of a recession, the government's statistics bureau said on Friday. It was the worst result since 2009 and bad news for President Dilma Rousseff, whose popularity has plummeted along with Brazil's economic performance.

• Friday, March 27th 2015 - 08:36 UTC

  Another major corruption scandal hits Brazil, this time fraud at the tax office

  

  Brazilian authorities on Thursday said they uncovered a tax fraud scheme at the Finance Ministry's tax appeals board that may have cost taxpayers up to 19 billion Reais (5.96 billion dollars).

• Friday, March 27th 2015 - 08:31 UTC

  Brazilian industry confident depreciation of the currency will help spur exports

  

  Brazil's private sector believes the depreciation of the Real against the dollar can help spur a manufacturing sector recovery even though the business climate has been affected by the Petrobras scandal, an official with the Federation of Industries of the State of São Paulo, Fiesp, said.