Brazil Selic to Stay High Until Inflation Nears Target, IMF Says by David Biller/Bloomberg 6:31 PM BRT May 12, 2015 Brazil’s monetary policy will remain tight until inflation approaches the mid-point of the central bank’s target range, the International Monetary Fund said in a report Tuesday. While inflation is expected to converge to the 4.5... Continue Reading →
Petrobras prepares Brazil domestic bond offering, sources say
Tue May 12, 2015 8:31am EDT Petrobras prepares Brazil domestic bond offering, sources say SAO PAULO/Reuters May 12 Petróleo Brasileiro SA is preparing an offering of debt notes in Brazil's domestic markets that could be sold as early as next week, two sources with direct knowledge of the situation said on Tuesday. Rio de Janeiro-based... Continue Reading →
Brazil’s Currency Volatility Rises as Levy Faces Fiscal Concern
Brazil’s Currency Volatility Rises as Levy Faces Fiscal Concern By Paula Sambo/Bloomberg 10:38 AM BRT May 12, 2015 Brazil’s currency volatility climbed for a second straight day amid speculation Finance Minister Joaquim Levy will face obstacles in his attempt to reduce budget deficits and preserve the nation’s investment-grade status. One-month implied volatility on options for... Continue Reading →
Buy-Brazil Rules Said to Be Eased in Plan to Spur Oil Projects
Buy-Brazil Rules Said to Be Eased in Plan to Spur Oil Projects by Sabrina Valle/Bloomberg 12:00 AM BRT May 12, 2015 Energy Minister Eduardo Braga Energy Minister Eduardo Braga said May 3, “There’s no way Petrobras can do all the investments needed for the Brazilian economy.” Photographer: Wenderson Araujo/AFP via Getty Images Brazil is preparing... Continue Reading →
Goldman Sachs throws a wet cloth on the oil rally
Goldman Sachs throws a wet cloth on the oil rally FT Goldman Sachs thinks the oil rally should be burning out. The bank's influential oil analyst team, led by Jeffrey Currie and Damian Courvalin in New York, say that while the 40 per cent rally since January has been impressive, markets are still oversupplied and... Continue Reading →
Petrobras fallout and poor growth add to pressure on Rousseff/FT Special Report
http://www.ft.com/cms/s/0/2e41877e-d3df-11e4-99bd-00144feab7de.html#ixzz3ZujXC79n May 12, 2015 12:16 am Petrobras fallout and poor growth add to pressure on Rousseff/FT Special Report Joe Leahy/FT ©Nelson Almeida/AFP On the march: demonstrators against President Dilma Rousseff Late last year, São Paulo’s Museu da Casa Brasileira, a design museum, staged an exhibition, “Excelência Italiana” (Italian excellence). On the way in, guests could... Continue Reading →
Levy Faces Biggest Test With Time Running Out in Brazil Congress
Levy Faces Biggest Test With Time Running Out in Brazil Congress By Raymond Colitt Arnaldo Galvao / Bloomberg 12:01 AM BRT May 12, 2015 Government spending on unemployment insurance in Brazil has more than tripled since 2003, contributing to widening public debt. Brazil’s Finance Minister Joaquim Levy is up against a ticking clock to convince... Continue Reading →
Big Oil Remains Interested in Colombia Shale, Minister Says
Big Oil Remains Interested in Colombia Shale, Minister Says By Andrew Willis Andrea Jaramillo/Bloomberg 5:21 PM BRT May 11, 2015 Colombia sees at least two shale projects starting development this year, with Royal Dutch Shell Plc and Exxon Mobil Corp. maintaining their interest despite a slump in prices. “What we’re seeing in the shale area is that... Continue Reading →
U.S. Conditionally Approves Shell Arctic Drilling Plan
U.S. Conditionally Approves Shell Arctic Drilling Plan Company aims to begin drilling in Arctic Ocean this summer Royal Dutch Shell hopes to use this oil rig for exploratory drilling in the Chukchi Sea, off the West Coast of Alaska. PHOTO: DANIELLA BECCARIA/ASSOCIATED PRESS By AMY HARDER And CASSANDRA SWEET/WSJ Updated May 11, 2015 4:14 p.m. ET The U.S. government... Continue Reading →
Noble’s Rosetta Deal Is OPEC’s Problem
Noble’s Rosetta Deal Is OPEC’s Problem Deals and financing are putting off a shakeout in the U.S. oil sector Work at a drilling rig in Texas is seen here. Noble Energy’s announced acquisition of Rosetta Resources does little to support oil prices in the near term. PHOTO: BRITTANY SOWACKE/BLOOMBERG NEWS By LIAM DENNING/WSJ May 11,... Continue Reading →
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