Itau Unibanco Holding SA’s chief economist Ilan Goldfajn was nominated on Tuesday to head up Brazil’s central bank, as Acting President Michel Temer works quickly to put in place an economic team to renew investor confidence and revive growth. Finance Minister Henrique Meirelles made the announcement, also appointing Mansueto de Almeida as secretary for economic... Continue Reading →

Brazil’s Acting President Michel Temer has appointed Maria Silvia Bastos Marques, the former chief executive of steelmaker Cia. Siderurgica Nacional, to head up Brazil’s state development bank BNDES. Marques, 59, has also served as CEO of Rio de Janeiro’s Olympic Company and finance secretary for the city’s government. Temer’s press office announced her appointment by... Continue Reading →

Brazil’s real joined gains in emerging markets on Monday as commodities advanced, boosting the outlook for the country’s raw-materials exports. The Ibovespa fluctuated. The currency strengthened 1 percent to 3.4994 per dollar at 4:18 p.m. in Sao Paulo as metals and crude rallied. The Bloomberg Commodity Index added 0.8 percent, improving inflows prospects for a... Continue Reading →

To the people who benefited most from the long, recently truncated rule of Brazil's leftist Workers Party, the look of the successor government could not be more disheartening. Whereas cabinet posts over the past 13 years were often filled by women and blacks, new Interim President Michel Temer last week presented a group of 23... Continue Reading →

May 15 Brazil's government is considering selling stakes in state-controlled assets including its postal company as well as holdings in transport, power and insurance firms in a bid to raise capital and streamline the public sector, a newspaper reported on Sunday. Interim President Michel Temer's government is working with a list of companies and sectors... Continue Reading →

Brazil's interim president, Michel Temer, said in a televised interview Sunday that he hopes to reduce unemployment and bring economic and political calm to Latin America's biggest country. Temer, a centrist who took over as interim president last week after Brazil's senate voted to suspend Dilma Rousseff and try her for irregularities in the government... Continue Reading →

The Summer Olympics in Rio de Janeiro won’t do much for the battered Brazilian economy, but a few select companies stand to reap significant benefits, Moody’s Investors Service wrote in a report published Monday. The credit-rating company focused on the impact of Olympic tourism, specifically the 350,000 spectators the government expects to visit Rio during... Continue Reading →

Brazil’s Acting President Michel Temer said he will only gain popular recognition if he produces tangible results for the population, while pledging not to run for the country’s top job in the 2018 election. “I realize I lack popular recognition,” he said in an interview Sunday evening on Globo Television. That will only come “if... Continue Reading →

May 12, 2016  Reuters Brazil's state-run oil company Petrobras expects to drill 65 new wells in 2016 and kept its forecast for average output during the year at 2.145 million barrels per day, the company said in a presentation after its quarterly earnings release on Thursday. Petroleo Brasileiro SA, as the company is officially known,... Continue Reading →