NEW YORK, May 16 (IFR) - The Senate's decision to put former president Dilma Rousseff on trial last week and replace her with market friendly Michel Temer has opened a bond issuance window for Brazilian borrowers seeking to take advantage of recent spread tightening. Petrobras is on the top of the list of possible issuers... Continue Reading →
Itau Economist Goldfajn Nominated as Brazil’s Central Bank Chief
Itau Unibanco Holding SA’s chief economist Ilan Goldfajn was nominated on Tuesday to head up Brazil’s central bank, as Acting President Michel Temer works quickly to put in place an economic team to renew investor confidence and revive growth. Finance Minister Henrique Meirelles made the announcement, also appointing Mansueto de Almeida as secretary for economic... Continue Reading →
Former Steel Executive Appointed Head of Brazil’s BNDES Bank
Brazil’s Acting President Michel Temer has appointed Maria Silvia Bastos Marques, the former chief executive of steelmaker Cia. Siderurgica Nacional, to head up Brazil’s state development bank BNDES. Marques, 59, has also served as CEO of Rio de Janeiro’s Olympic Company and finance secretary for the city’s government. Temer’s press office announced her appointment by... Continue Reading →
Former Bunge Brasil CEO Parente picked to run Petrobras
Brazil's interim President Michel Temer has decided to appoint engineer and former Bunge executive Pedro Parente to be chief executive of ailing state-run oil company Petrobras, O Globo newspaper reported on Monday. Parente was chief of staff of former president Fernando Henrique Cardoso, during whose administration he successfully managed a severe energy crisis that required... Continue Reading →
Brazil’s Real Rises With Emerging Markets as Commodities Advance
Brazil’s real joined gains in emerging markets on Monday as commodities advanced, boosting the outlook for the country’s raw-materials exports. The Ibovespa fluctuated. The currency strengthened 1 percent to 3.4994 per dollar at 4:18 p.m. in Sao Paulo as metals and crude rallied. The Bloomberg Commodity Index added 0.8 percent, improving inflows prospects for a... Continue Reading →
White male cabinet raises fears of backsliding in diverse Brazil
To the people who benefited most from the long, recently truncated rule of Brazil's leftist Workers Party, the look of the successor government could not be more disheartening. Whereas cabinet posts over the past 13 years were often filled by women and blacks, new Interim President Michel Temer last week presented a group of 23... Continue Reading →
Clarification of News Item: Brookfield offer for Petrobras gas pipelines
Rio de Janeiro, May 13, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 202/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 202/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Economia & Negócios (Economics & Business) section of the newspaper O Estado de São Paulo, entitled Brookfield... Continue Reading →
Cash-starved Brazil considers selling off public assets -paper
May 15 Brazil's government is considering selling stakes in state-controlled assets including its postal company as well as holdings in transport, power and insurance firms in a bid to raise capital and streamline the public sector, a newspaper reported on Sunday. Interim President Michel Temer's government is working with a list of companies and sectors... Continue Reading →
Brazil government says jobs, confidence priorities
Brazil's interim president, Michel Temer, said in a televised interview Sunday that he hopes to reduce unemployment and bring economic and political calm to Latin America's biggest country. Temer, a centrist who took over as interim president last week after Brazil's senate voted to suspend Dilma Rousseff and try her for irregularities in the government... Continue Reading →
Deutsche sees Rousseff ouster boosting Petrobras, Brazil bank debt
Bonds in Brazilian state-controlled oil producer Petróleo Brasileiro SA and those of banks, steelmakers and commercial property companies are expected to benefit from President Dilma Rousseff's removal, which could usher in more business-friendly policies, Deutsche Bank Securities said in a report. Brazil's Senate voted last week to impeach Rousseff and she faces trial on charges... Continue Reading →
Brazil Energy Insight 