Brought to you by Quest Offshore & Southern Cone Consultants
Grupo BTG Pactual SA is trimming assets and bolstering regulatory capital ratios in an effort to weather a protracted economic downturn and political crisis in Brazil, its chief executive officer said on Thursday. CEO André Esteves has trimmed both the assets and the loan book of the largest independent emerging markets-based investment bank by 6.7... Continue Reading →
Aug 6. Desperate to fix a fiscal crunch threatening its investment grade credit rating, Brazil is aiming to lure back some of an estimated $150 billion in unreported assets held abroad in tax havens and secret bank accounts. The cash-strapped government is looking to raise 10 billion reais ($3 billion) this year by offering an... Continue Reading →
To Citigroup Inc., traders in Brazil’s bank-bond market are being far too complacent. The country is in danger of having its rating cut to the cusp of junk by Moody’s Investors Service, and that means the nation’s biggest lenders are also in the crosshairs. That’s because banks’ credit grades typically are aligned with those of... Continue Reading →
Brazil’s local bond yields rose to a record and the cost of protecting against default climbed after President Dilma Rousseff suffered a setback in Congress that eroded measures to pare budgets and avoid a junk credit rating. The real declined to a 12-year low as the lower house of Congress voted for spending increases hours... Continue Reading →
Brazil's state-run oil company Petroleo Brasileiro SA (PETR4.SA) second-quarter profit fell by almost a fifth from a year earlier due to a tax settlement charge and a plunge in oil prices, according to a Reuters survey of analysts. The average estimate of 12 analysts polled by Reuters is for net income to fall 19 percent... Continue Reading →
SCHIEDAM, Netherlands, Aug. 5, 2015 (GLOBE NEWSWIRE) -- SBM Offshore is happy to report better than expected revenue. The Company continues to see a healthy appetite for its projects, as evidenced by the 45% taken up by joint venture partners in the Turritella project as well as the recently announced US$1.55 billion of project financing... Continue Reading →
Brazil needs to finish its fiscal adjustment before seeking growth, and must reflect on economic risks generated by public spending, Finance Minister Joaquim Levy said as Congress reconvenes following a recess. The country needs fast reforms, and President Dilma Rousseff has assumed the popularity cost of doing what’s necessary to restart growth, Levy said at... Continue Reading →
It is shaping up as a cruel summer for debt investors wagering on a rebound in the oil-and-gas business. Funds managed by Franklin Resources Inc., Blackstone Group LP and Oaktree Capital Group LLC, among others, are facing paper losses on substantial investments this year in exploration-and-production companies. The sector is coming under further pressure as... Continue Reading →
Petroleo Brasileiro SA is looking to sell about 25 percent of its distribution unit in what would be Brazil’s biggest initial public offering in more than two years, said two people with direct knowledge of the matter. The Petrobras Distribuidora SA unit, known as BR, is Latin America’s largest distributor and marketer of petroleum derivatives... Continue Reading →
Brazil’s real led declines among major currencies and fell to a 12-year low as BNP Paribas SA and London Capital Group said it was poised for another 10 percent decline. The real tumbled last month the most since March as Standard & Poor’s said Tuesday it may lower the nation’s credit rating to junk and... Continue Reading →
