Wed Oct 14, 2015 Petrobras saved $3.8 billion this year by managing debt better: CEO Reuters People walk in front of the Petrobras headquarters in Rio de Janeiro February 2, 2015. REUTERS/SERGIO MORAES Brazilian state-run oil company Petroleo Brasileiro SA has saved $3.8 billion this year by improving the way it manages its debt, Chief... Continue Reading →
Brazil’s Next Big Crisis Is Scaring Bankers and Wiping Out Jobs
In the smog-filled, run-down industrial hubs that ring the southern end of Sao Paulo, Brazil’s next big crisis is taking root. The labor market, long the country’s lone economic bright spot as growth stagnated, is suddenly deteriorating rapidly, drivingunemployment all the way up to 7.6 percent from a record-low 4.3 percent at the end of... Continue Reading →
Brazil Real Joins Currencies Higher as Fed Bets Outweigh Turmoil
Brazil’s real followed a rally in major currencies against the dollar as global appetite for riskier assets overwhelmed concerns about the outlook for Latin America’s largest economy amid political strife. The real rebounded from the biggest slide since 2011 as disappointing economic reports out of China and the U.S. spurred wagers the Federal Reserve will... Continue Reading →
Petrobras – Financing Agreement with ICBC Leasing
Petrobras - Financing Agreement with ICBC Leasing 10/13/2015 Rio de Janeiro, October 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that it concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a... Continue Reading →
Brazil’s Petrobras to sign $2 bln leasing contract with China’s ICBC
Tue Oct 13, 2015 7:41am EDT Brazil's Petrobras to sign $2 bln leasing contract with China's ICBC Reuters Petrobras press release Oct 13 Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement... Continue Reading →
Oil Giants to Miss Third-Quarter Profit Estimates, Barclays Says
The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. As a result, the veteran oil-industry analyst told clients in a note on Monday that... Continue Reading →
Petrobras Isn’t Only State-Run Company Unloved by Bond Traders
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 →
In Brazil, Trying to Pinpoint the End for Both Rousseff and Rout
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
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 Real Rallies to Best Week in Four Years on Fed Outlook
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 →
