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Brazil’s real and stocks led declines among the world’s biggest markets as heightened political turmoil and data showing weakness in the nation’s top trading partner added to concern Latin America’s largest economy will falter. The real posted the biggest slump among the world’s 16 major currencies, and the Ibovespa headed for its worst loss this year after a... Continue Reading →
Petrobras - Financing Agreement with ICBC Leasing 10/13/2015 Rio de Janeiro, October 13, 2015 – Petróleo Brasileiro S.A. – Petrobras announces that it concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a... Continue Reading →
Tue Oct 13, 2015 7:41am EDT Brazil's Petrobras to sign $2 bln leasing contract with China's ICBC Reuters Petrobras press release Oct 13 Brazil's state-run oil firm Petroleo Brasileiro SA will raise $2 billion through a 10-year leasing contract with China's Industrial and Commercial Bank of China Leasing, the Brazilian company said in a statement... Continue Reading →
The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. As a result, the veteran oil-industry analyst told clients in a note on Monday that... Continue Reading →
Until recently, Lucinelia de Jesus Souza's future seemed bright, running a small coffee shop that caters to factory workers and other blue-collar customers in this industrial suburb of São Paulo. But the faded pink counters of her shoebox-sized business, which opened a decade ago and blossomed as Brazil's economy grew quickly, now see fewer customers... Continue Reading →
OPEC forecast on Monday that demand for its oil in 2016 would be much higher than previously thought as its strategy of letting prices fall hits U.S. shale oil and other rival supplies, reducing a global surplus. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) forecast the world would need 30.82... Continue Reading →
State-run companies are realizing government backing isn’t what it used to be. Tumbling commodities, a corruption scandal ensnaring Petroleo Brasileiro SA and slowing global growth are sapping demand for so-called quasi-sovereign debt across emerging markets, with state-backed companies in Brazil, South Africa, Colombia and Mexico faring the worst. Investors were demanding 1.09 percentage points more... Continue Reading →
Eduardo Cunha, President Dilma Rousseff’s most powerful adversary, said he won’t resign as head of Brazil’s lower house even as some of his supporters in Congress urged him to leave following news reports that he received kickbacks. He denies any wrongdoing. The political blow, which Cunha blames on the federal prosecutor’s office, reduces his ability... Continue Reading →
Brazilian Finance Minister Joaquim Levy told Reuters on Saturday that President Dilma Rousseff backed his policies, and he intends to stay on the job as long as needed to put the books in order and pull the economy out of its slump. Market speculation that Levy, an orthodox economist widely respected among investors, was considering... Continue Reading →
Eduardo Cunha, the head of Brazil’s lower house, allegedly received kickbacks stemming from a Petrobras contract in Africa,Folha de S. Paulo reported Saturday, citing documents sent by the Swiss public prosecutor to local authorities. As head of the lower house, Cunha has the power to accept or reject impeachment requests that can be filed by any... Continue Reading →
