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State-run companies are realizing government backing isn’t what it used to be. Tumbling commodities, a corruption scandal ensnaring Petroleo Brasileiro SA and slowing global growth are sapping demand for so-called quasi-sovereign debt across emerging markets, with state-backed companies in Brazil, South Africa, Colombia and Mexico faring the worst. Investors were demanding 1.09 percentage points more... Continue Reading →
As Brazilian President Dilma Rousseff moves ever closer to impeachment, traders are wondering if another end is near: the end of the yearlong market rout. While most agree it’s too soon to declare either Rousseff’s presidency or Brazil’s stock and bond collapse are over, the debate is gaining steam. Franklin Templeton Investments ChairmanMark Mobius says... Continue Reading →
Petrobras - Adjustments in the Business and Management Plan 2015-2019: Additional information 10/08/2015 Rio de Janeiro, October 8, 2015 – Petróleo Brasileiro S.A. – Petrobras, complementing the Material Fact disclosed to the market on October 5 regarding adjustments to the 2015-2019 Business and Management Plan (PNG 2015-2019), hereby informs the exchange rate and the Brent... Continue Reading →
Brazil’s real is on course to post its best weekly gain in more than four years as speculation the Federal Reserve will delay raising interest rates because of weakness in the U.S. economy bolstered global appetite for riskier assets. The real gained 1.2 percent to 3.7418 per dollar at 9:41 a.m. in Sao Paulo, extending its... Continue Reading →
Brazil’s real advanced the most among major currencies, rebounding from the world’s biggest loss Wednesday, as a court ruling put President Dilma Rousseff a step closer to facing impeachment over the way the government accounted for its finances last year. The real advanced 1.5 percent to 3.8292 per dollar, its strongest level in more than... Continue Reading →
Brazil’s real is the worst-performing major currency this year. Ask the top-ranked forecasters and they’ll say it’s set for more losses. The three most accurate currency analysts see the real trading at an average of 4.1 per dollar by year-end, data compiled by Bloomberg show. To get there, the real would have to slide another... Continue Reading →
Brazil will be able to maintain its coveted investment-grade rating if its economy improves next year and the government builds a political consensus around crucial austerity measures, a senior analyst with Moody's Investors Service said on Tuesday. Mauro Leos said at a Moody's seminar in Sao Paulo that Brazil's Baa3 rating, the firm's lowest investment-grade... Continue Reading →
Brazil’s real swung between gains and losses in early trading Tuesday as optimism that some government spending cuts will be upheld offset concern impeachment proceedings against President Dilma Rousseff are drawing closer. The real was little changed at 3.9116 per dollar at 9:54 a.m. in Sao Paulo, after earlier falling as much as 1.1 percent... Continue Reading →
Petrobras - Adjustments to the 2015-2019 Business and Management Plan 10/05/2015 Rio de Janeiro, October 5, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby informs that, in view of the new levels of Brent crude oil prices and exchange rate (R$/US$), it has adjusted its financial planning for 2015 and 2016. When the Company first... Continue Reading →
State-led Petróleo Brasileiro SA , struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras, as the company is commonly known, plans to cut 2015 investment by 11 percent to $25 billion from... Continue Reading →
Brazil Energy Insight 