Jan 4 Brazil returned to a trade surplus in 2015 as the worst recession in 25 years and a slump in the real currency damped demand for imports in Latin America's largest economy, data showed on Monday. Brazil posted a trade surplus of $19.681 billion for last year, rebounding from a deficit of $4 billion... Continue Reading →
Big oil to cut investment again in 2016
With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. At around $37 a barrel, crude prices are well below the $60 firms such as Total (TOTF.PA), Statoil... Continue Reading →
Brazil’s Real Leads Losses in Emerging Markets on Chinese Data
Brazil’s real led global declines as data showing weakness in the nation’s top trading partner added to concern a recession in Latin America’s largest economy will drag on. The real slid 2.3 percent to 4.0431 per dollar at 9:51 a.m. in Sao Paulo, on course for the weakest close in three months. The decline was the... Continue Reading →
Brazil Analysts Ring in New Year With Deeper Recession Forecast
Brazil analysts expect a deeper recession this year than previously forecast, as economic activity and confidence sink amid a political crisis. Latin America’s largest economy will shrink 2.95 percent this year, according to the weekly central bank survey of about 100 economists, versus a prior estimate of a 2.81 percent contraction. It was the 13th straight... Continue Reading →
Brazil Ex-President Lula da Silva Faces Probes and Growing Public Rancor
Country’s best-known political figure fights to preserve his legacy and rally his party amid a welter of corruption allegations Mr. da Silva spoke earlier this month at a conference in Berlin. PHOTO: MARKUS HEINE/NURPHOTO/ZUMA PRESS By REED JOHNSON and ROGERIO JELMAYER/WSJ Updated Dec. 29, 2015 5:29 p.m. ET SÃO PAULO—Brazilians are hearing Luiz Inácio Lula da Silva do something he rarely... Continue Reading →
Brazil’s fall/The Economist Cover 1/2016
Disaster looms for Latin America’s biggest economy Jan 2nd 2016 | From the print edition AT THE start of 2016 Brazil should be in an exuberant mood. Rio de Janeiro is to host South America’s first Olympic games in August, giving Brazilians a chance to embark on what they do best: throwing a really spectacular party. Instead,... Continue Reading →
Brazil’s Rio state implements new tax on oil and gas production
Brazil's Rio de Janeiro state, facing a budget shortfall caused in part by plunging oil prices, imposed new taxes on petroleum and natural gas on Thursday, a move critics say will slash investment in an already battered industry. Brazil's economy is suffering its worst recession in decades, while a corruption scandal at Petrobras, as the... Continue Reading →
Brazil Real Plunges as Minimum-Wage Hike Worsens Fiscal Outlook
Brazil’s real posted its biggest decline in four months, extending its fifth annual drop, as oil prices tumbled and an increase in the minimum wage fueled concern that the country’s fiscal situation will worsen. The currency fell 3.7 percent to 4.0104 per dollar as of 2:03 p.m. in Sao Paulo. The real is the worst... Continue Reading →
World’s Worst Carry Trade Found in Brazil as 2016 Outlook Dims
Investors who bet on Brazil’s local bonds this year were saddled with the biggest losses among major economies. The outlook for 2016 isn’t much better. Borrowing dollars at the end of 2014 and buying reais, a practice known as the carry trade, left investors with losses of 22 percent as Brazil’s currency posted the second-biggest... Continue Reading →
Brazilian Government Settles $18.2 Billion Owed to State Banks
Brazil’s government has settled overdue payments to state-run banks stemming mostly from budget maneuvers this year and last, which are the basis for impeachment proceedings against President Dilma Rousseff. The Treasury this year paid 72.4 billion reais ($18.2 billion) it owed state banks such as Banco do Brasil, it said in a statement on Wednesday.... Continue Reading →
Brazil Energy Insight 