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The real and the Ibovespa benchmark equity index resumed a rally that has put Brazilian assets among this year’s world beaters as the drive to oust President Dilma Rousseff appeared to get back on track. The currency advanced 0.9 percent to 3.4858 per dollar and the stocks gauge climbed 1.4 percent to 51,679.67 at 10:32 a.m.... Continue Reading →
Antonio Delfim Netto has no patience for skepticism about Brazil’s future. In his 88 years, he’s witnessed -- and sometimes, been part of -- plenty of periods of instability. A military regime, multiple currency changes, a sovereign debt default, hyperinflation, Brazil’s so-called economic miracle, and the deep recession that followed it. Now, when everybody else... Continue Reading →
Reuters May 9, 2016 The acting speaker of Brazil's Lower House of Congress early on Tuesday revoked his decision to annul the impeachment vote against President Dilma Rousseff. Speaker Waldir Maranhao, in an official statement to the Senate, did not cite any reason for backtracking on his surprise announcement on Monday to annul last month's... Continue Reading →
DNB ASA, one of the biggest lenders to the offshore energy industry, sees the market slump lasting until 2020 as the collapse in crude prices drags down drillers and supply ship operators. The market crash would resemble a “very long U,” or even an “L,” the bank’s head of Shipping, Offshore & Logistics, Kristin Holth,... Continue Reading →
Brazil’s Senate decided on Monday to move ahead with impeachment proceedings against President Dilma Rousseff, just hours after the head of the lower house called for the process to be suspended. Senate chief Renan Calheiros told the chamber that he wouldn’t recognize lower house interim President Waldir Maranhao’s decision earlier in the day to annul the... Continue Reading →
Low oil prices continue to take their toll on the energy industry’s labor force. Three oil services companies are among the top five in 2016 job reductions. Houston-based Schlumberger Ltd. leads the way with 20,000 jobs cut, according to data compiled by Bloomberg. Each of the three announced cuts in April amid aslowdown in the... Continue Reading →
Bloomberg Brazil’s interim lower house chief Waldir Maranhao called for a new vote on the impeachment of President Dilma Rousseff, in a surprise move that prompted a sell off of Brazilian assets. Maranhao said he annulled the lower house vote last month in favor of Rousseff’s impeachment, citing procedural irregularities, according to a statement sent... Continue Reading →
Rio de Janeiro, May 06, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 194/2016/CVM/SEP/GEA-1, which requests the following clarifications: Official Letter No. 194/2016-CVM/SEP/GEA-1 “Mr. Director, 1. We refer to the news item published on May 04, 2016, in the newspaper O Estado de São Paulo, Business & Economy section,... Continue Reading →
Latin America was synonymous with political instability throughout the 20th century. The specter of military coups faded in the 1980s, yet political crises -- like the one now engulfing Brazilian President Dilma Rousseff -- still plague the region. If Rousseff loses her looming impeachment battle over claims of illegal accounting, she will be the 18th elected... Continue Reading →
Brazilian police detained former Finance Minister Guido Mantega for questioning in relation to alleged tax benefits granted to companies in exchange for bribes, Brazil’s leading newspapers reported. The detention on Monday comes only days before President Dilma Rousseff faces a key vote in the Senate that could temporarily remove her from office on charges of... Continue Reading →
