Mon Apr 27, 2015 11:55am EDT Fitch: BNDES's Scale-Back an Opportunity for Brazil's Banks (The following statement was released by the rating agency) NEW YORK, April 27 (Fitch) As Brazil's government-sponsored Banco Nacional de Desenvolvimento Economico e Social (BNDES) likely scales back its role in infrastructure financing, the federal government expects more active participation of... Continue Reading →
Brazil’s Former Ruling Party Treasurer Charged in Petrobras Case
Brazil’s Former Ruling Party Treasurer Charged in Petrobras Case By Raymond Colitt / Bloomberg 12:20 PM BRT April 27, 2015 The former treasurer of President Dilma Rousseff’s Workers’ Party was charged by Brazilian public prosecutors for his role in the corruption scandal at state-run oil company Petrobras. Vaccari is being accused of laundering money stemming... Continue Reading →
Brazil’s Real Climbs as Higher Rates Seen Attracting Investors
Brazil’s Real Climbs as Higher Rates Seen Attracting Investors By Filipe Pacheco 10:46 AM BRT April 27, 2015 Brazil’s real rose for a fifth straight day amid speculation that the central bank will increase borrowing costs by another half-percentage point this week, making local assets more attractive to international investors. The real gained 0.2 percent... Continue Reading →
The ghost in the Planalto/Dilma Rousseff is in office but no longer in power
Bello The ghost in the Planalto Dilma Rousseff is in office but no longer in power Apr 25th 2015 | From the print edition The Economist “DILMA Out, PT out,” rang the angry chants up and down São Paulo’s Avenida Paulista on a blazing Sunday afternoon on April 12th. They were echoed in towns and cities across Brazil.... Continue Reading →
Petrobras Fallout Pushes Even Untainted Borrowers Toward Default
Petrobras Fallout Pushes Even Untainted Borrowers Toward Default By Filipe Pacheco / Bloomberg 10:00 PM BRT April 26, 2015 The bribery investigation at Petroleo Brasileiro SA has already pushed two companies implicated by the alleged graft into default. Now, a cement producer untainted by the scandal -- but upended by its fallout -- risks joining... Continue Reading →
Odebrecht Seeks Renewable-Energy Partners as Brazil Funds Dry Up
Odebrecht Seeks Renewable-Energy Partners as Brazil Funds Dry Up By Vanessa Dezem / Bloomberg 8:00 AM BRT April 27, 2015 Odebrecht Energia, a unit of Brazilian construction giant Odebrecht SA, is seeking investors to buy stakes in its renewable-energy assets as credit conditions deteriorate in Brazil. The developer is in talks with four international pension... Continue Reading →
BP shareholders need protecting from David Cameron
http://www.ft.com/cms/s/0/2c803100-ecc2-11e4-b82f-00144feab7de.html#ixzz3YW3sP9Dw LOMBARD April 27, 2015 11:39 am BP shareholders need protecting from David Cameron Jonathan Guthrie/FT ©Reuters Call that a national champion? BP is a curious business to receive such a flattering title, via government protection from takeover. Its standout achievements in recent years have been dumping 200m barrels of oil in the Gulf of Mexico and allying itself... Continue Reading →
Oil E&Ps: spring sales
Δημοσιεύθηκε: 27 Απριλίου 2015 - 11:29 Oil E&Ps: spring sales Sometimes low prices do not attract shoppers. A catalyst is needed: clever marketing, word of mouth, something to give buyers confidence. For energy companies, it may a price increase - in the commodity, if not the companies themselves. Oil is up 39 per cent since January.... Continue Reading →
PetroChina, Sinopec Surge on Industry Merger Speculation
PetroChina, Sinopec Surge on Industry Merger Speculation By Aibing Guo / Bloomberg 1:31 AM BRT April 27, 2015 China Petroleum & Chemical Corp. (Sinopec) storage tanks stand in the Tsing Yi area of Hong Kong. Photographer: Jerome Favre/Bloomberg PetroChina Co. and China Petroleum & Chemical Corp., the nation’s two largest oil explorers, jumped by their... Continue Reading →
Brazil Analysts Cut 2015 GDP Forecast, Boost Inflation Estimate
Brazil Analysts Cut 2015 GDP Forecast, Boost Inflation Estimate By Mario Sergio Lima / Bloomberg 8:37 AM BRT April 27, 2015 Brazil analysts lowered their estimate for economic growth this year and raised their inflation prediction, as the government negotiates with Congress over fiscal moves to trim the budget deficit. Analysts cut their 2015 growth... Continue Reading →
