HNA Airport Holding Group Co Ltd is close to buying out the stake that engineering conglomerate Odebrecht SA has in Brazil's second-busiest international airport, a person briefed on the matter said on Monday, partly solving an impasse with a government agency over licensing rights. The Chinese company, which is part of HNA Group Co Ltd,... Continue Reading →

Brazil's President Michel Temer on Tuesday made new concessions to ease passage of an unpopular pension reform bill that has drawn angry demonstrations from labor organizations, including police unions that tried to invade Congress in protest. The watered-down proposal, which has faced pressure from skittish lawmakers, has raised doubts among investors about the full fiscal... Continue Reading →

Former Brazilian Finance Minister Antonio Palocci entered talks with federal police to strike a plea bargain deal, in a potential blow to former President Luiz Inácio Lula da Silva's chances of running in next year's election, newspaper Folha de S.Paulo said on Tuesday. Palocci, one of the closest advisers to Lula and former president Dilma... Continue Reading →

The International Monetary Fund nudged up its 2018 growth outlook for Brazil as fading political uncertainty, easing monetary policy and progress on the government’s economic reform agenda help foster a gradual recovery. Brazil will grow 1.7 percent next year, compared with a January forecast of 1.5 percent, the IMF said in its World Economic Outlook... Continue Reading →

  Without having faith in the judicial recovery process of Sete Brasil - and who does? - Jurong shipyard will take tougher measures against the company. The Singapore Group is expected to demand possession of the Arpoador drill ship, which Jurong is building for Sete Brasil. It would use the equipment to cover part of... Continue Reading →

Brazil’s newsstands and its markets have never seemed more disconnected. As the nation obsesses over new details emerging from a sweeping corruption probe that’s implicated top business executives and politicians -- with pundits predicting who is likely to end up in jail and which government figures will resign in disgrace -- Brazilian assets are extending... Continue Reading →

Brazilian President Michel Temer said on Monday he expects some of his ministers to resign after they were implicated in a massive corruption investigation, but said this would not stop his government from approving landmark economic reforms. Eight of Temer's ministers were mentioned by executives of engineering group Odebrecht SA in plea bargain testimonies made... Continue Reading →

A U.S. judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities. U.S. District Judge Raymond Dearie said at a hearing in Brooklyn federal court that about $93 million... Continue Reading →

Odebrecht SA [ODBES.UL], the Brazilian engineering company at the center of a historic corruption scandal, paid out a total of about $3.3 billion in bribes in the nine years through 2014, according to testimony cited by local media on Saturday. Through a department specifically established to pay politicians and other recipients for public works contracts,... Continue Reading →

For some in Brazil, the decision by a Supreme Court judge to place many top politicians under investigation for suspected corruption, including leading contenders in next year's presidential race, clears the way for a new era in politics. The sweeping probe ordered by Justice Luiz Edson Fachin encompassed all the likely presidential candidates from Brazil's... Continue Reading →