Brazil has started to watch its multinational companies for corrupt practices they might commit in other countries in the wake of a massive bribery scandal at home, the nation's top anti-corruption official told Reuters. Six years after encouraging homegrown conglomerates to expand beyond Brazil with cheap credit and eased regulatory rules, the government is now... Continue Reading →
Brazilian panel approves report clearing Petrobras of wrongdoing/Travesty
A final report approved by a Brazilian congressional panel investigating corruption at state-run oil company Petrobras has blamed suppliers and rogue employees for the graft, rather than politicians or the company. The committee's final report did not criticize any politicians, including those closely associated with Petrobras, such as President Dilma Rousseff, who was chairwoman of... Continue Reading →
Petrobras Update October 2015 – PBR presentation
Attached the Petrobras Update October 2015 presentation. BTG-Pactual-Conference-Oct2015_5
The Overlooked Forces Driving Brazil’s Inflation to 10 Percent
Brazil’s policy makers have blamed the fastest inflation in roughly 12 years on a weaker currency and higher government-administered prices such as electricity. Economists don't think it's so simple.Price increases that exceed the 4.5 percent target are widespread. Six of the nine product groups tracked by the national statistics agency still have annual inflation running... Continue Reading →
UPDATE 1-Singapore’s Keppel says may face Brazil corruption probe
Singapore oil rig builder Keppel Corporation Ltd said it may face an investigation into deals with Brazilian state-run oil company Petrobras and rig builder Sete Brasil. A Brazilian parliamentary commission of inquiry backed further investigations into 10 companies it identified as involved in transactions with Petrobras and Sete, including the Singaporean company's Keppel FELS Brasil... Continue Reading →
Brazil Poised to Post Widest-Ever Primary Budget Deficit
Brazil Poised to Post Widest-Ever Primary Budget Deficit Carla Simões, Mario Sergio Lima/Reuters October 22, 2015 — Primary gap to total at least 50 billion reais in 2015 Brazil will miss its fiscal target this year and post the widest year-end budget deficit before interest payments on record, according to the government’s chief of staff,... Continue Reading →
The threat of fiscal dominance in Brazil
Brazil’s inflation is approaching 10 percent and yet the central bank has opted not to raise interest rates in a meeting on Wednesday. Not only that, it pushed back its target to 2017. For many, the bank is staying put and tolerating a little more inflation because of the recession, the worst in decades. But... Continue Reading →
Rousseff Impeachment Would Be Signal to Sell
While the potential impeachment of Brazilian President Dilma Rousseff is seen as positive by some investors, Loomis Sayles & Co.’s Edgardo Sternberg says it would probably lead to more political confusion and a deeper fiscal impasse. “The market thinks impeachment would be a good thing,” Sternberg said at a conference Thursday at Bloomberg headquarters in... Continue Reading →
Brazil’s Ex-Guerrilla-in-Chief Isn’t Going Down Without a Fight
Rousseff in 1970 Source: Departamento de Ordem Política e Social (DOPS) de São Paulo For much of the past year, as Brazil plunged into economic and political crisis, President Dilma Rousseff seemed cornered in her bunker. Bookish and awkward, she rarely left the presidential palace, pouring over infrastructure reports, focusing on the technical side of... Continue Reading →
Thought Brazil’s Politics Was Messy? It’s About to Get Worse
A group of high-profile Brazilian lawyers filed with the lower house today an impeachment request against President Dilma Rousseff. The petition, will be examined by the president of the lower house -- which may take days -- and if accepted, may set in motion a process that could take as long as several months to... Continue Reading →
Brazil Energy Insight 