State-owned Pre-salt Petróleo S.A. (PPSA), which is responsible for representing the interests of the federal government in the Pre Salt Sharing Contracts, will launch an international tender to hire a marketing agent in the second half of 2017. International companies that do not operate in the country will be able to participate, provided they establish... Continue Reading →

Brazil’s central bank kept the pace of monetary easing and signaled future rate cuts may not be as aggressive amid a fresh political crisis that has rocked the country. The bank’s board led by President Ilan Goldfajn reduced the benchmark Selic rate by a full percentage point to 10.25 percent on Wednesday, as forecast by 43... Continue Reading →

A former Brazilian cabinet minister is offering prosecutors evidence of graft involving two prominent billionaires who allegedly sought help from politicians to undertake deals during the left wing Workers Party administration, two newspapers reported on Wednesday. Antônio Palocci has decided to cooperate with prosecutors in exchange for a lighter sentence related to his role in... Continue Reading →

In the hot and humid town of Caicara, in the heart of Venezuela, some 20 piers jutting out of the vast Orinoco river gather mildew and rust. Brazilian construction company Odebrecht ODBES.UL was meant to build an 11-km (seven-mile) bridge in the town - the longest in the South American country - in 2011 but... Continue Reading →

Renée Pereira, O Estado de S.Paulo 31 May 2017 Despite the crisis in the naval sector, the Board of Directors of the Merchant Marine Fund (CDFMM) approved in the last months almost R $ 3 billion for the construction of new shipyards. The projects are aimed at repairing medium and large ships and do not... Continue Reading →

Vard Holdings announced the acquisition of the control of the Vard Promar shipyard, located in Pernambuco, and acquired a 4.85% stake in PJMR (Ariovaldo Rocha, president of Sinaval). The value of the transaction is R $ 5.5 million. The Vard group, controlled by Italian state-owned company Fincantiere, will now have 100% control of the local... Continue Reading →

Brazil's central bank is widely expected to maintain its rapid pace of interest rate cuts on Wednesday despite a political crisis that has clouded the future of an economy slowly emerging from its worst recession ever. Corruption allegations against President Michel Temer, which threaten to unseat the center-right politician and derail his economic reform agenda,... Continue Reading →