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A 70-something corporate lawyer in Sao Paulo’s financial district is ready to come clean with a secret that’s weighed on him for decades: He owns $200,000 in undisclosed cash illegally stashed abroad. He’s not alone. Well-to-do Brazilians have hidden as much as $400 billion in offshore accounts from the nation’s tax authorities -- and not... Continue Reading →
WSJ At $50 per barrel, falling Brent prices started to hurt rather than help shares and other risky assets ENLARGE There are some signs that the influence of oil on other assets may be fading. Above, the Transocean John Shaw oil platform in Cromarty, U.K. PHOTO: BLOOMBERG NEWS By JAMES MACKINTOSH April 19, 2016 12:06... Continue Reading →
Brazil’s real led gains among major peers as the central bank refrained from weakening the currency after selling $32.3 billion in reverse swaps over the past month. The real rose 2.4 percent to 3.5322 per dollar on Tuesday, taking a breather from the central bank’s auctions, which are equivalent to buying dollars in the futures market.... Continue Reading →
Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy. The Rio de Janeiro-based producer spent 800 million reais ($223 million) last year to expand infrastructure and drill 30 wells in what was Brazil’s biggest drilling campaign on land, Chief Executive Officer... Continue Reading →
Apr 19, 2016 Reuters The cost of extracting oil from Brazil's so-called Subsalt Polygon in the Atlantic ocean fell about 7 percent last year, state-controlled oil producer Petróleo Brasileiro SA said on Tuesday. In a securities filing, Petrobras said unit extraction costs fell to $8.50 per barrel of oil last year from about $9.10 a... Continue Reading →
Brazil's corruption-battered state oil company Petrobras could be a big beneficiary if the country's opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday. Vice President Michel Temer, who would take power if Rousseff were impeached, is considered open to industry calls for changes to oil rules brought in by her Workers' Party... Continue Reading →
Should she succeed the question is how will she manage the country with only 28% support from Congress?? Brazil’s President Dilma Rousseff on Monday pledged to continue fighting an impeachment process that she considers a threat to democracy and a personal affront. Visibly downcast, Rousseff struck a personal tone in her first speech since the... Continue Reading →
Economist The vice-president is likely to take power. He will not find it easy to govern the country Apr 18th 2016 | BRASÍLIA AT 11.07pm on April 17th federal deputy Bruno Araújo of Pernambuco state cast the most momentous vote in his parliamentary career. The lawmaker for the centre-right opposition Party of Brazilian Social Democracy... Continue Reading →
Dilma Rousseff is running out of time and options as her enemies close in on the first impeachment of a Brazilian president in 24 years. After a dramatic defeat in an impeachment vote in the Lower House on Sunday, she may have only a couple of weeks to turn around growing momentum for her... Continue Reading →
Investors in Brazil may find that getting what they wished for isn’t all it was cracked up to be. The real and the Ibovespa slumped even after the lower house of Congress voted to proceed with President Dilma Rousseff’s ouster. The scope of gains going forward is seen as limited given the difficulty in tackling... Continue Reading →
