Dollar Strong Against Brazilian Real: Daily
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The dollar ended with a fall of 0.67 percent on Thursday, after closing high five sessions in a row. However, it still closed relatively high against the Brazilian Real, at R$1.91. The main Stock Exchange index in São Paulo, Brazil’s economic powerhouse – the Bovespa [...]
Delta Out of Rio Projects Amid Allegations
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – An investigation by the Polícia Federal (Federal Police) has found links between Brazilian construction giant Delta Construção, who walked out on the Transcarioca Bus Rapid Transit (BRT) consortium last week, and the now infamous Carlinhos Cachoeira (Waterfall) – the businessman at the center of [...]
Sevan Drilling Celebrate Arrival of New Rig
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL - Sevan Drilling, the Norwegian drilling contractor, celebrated the arrival of a new platform Monday which will increase the company’s presence in Brazil’s offshore industry. At an event held aboard the yacht Pink Fleet, Sevan Drilling visited the new rig currently docked in Guanabara Bay, by the [...]
Brazil Onshore Gas is New Pre-Salt: Daily
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazil will become self-sufficient in natural gas within the next five years, after which it will grow into an influential exporter, according to Edison Lobão, Brazil’s energy and mining minister. In an interview with Globo, Lobão said Brazil is set to “live in a golden age [...]
Argentina YPF Seeks Petrobras Partnership
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – Argentina is seeking greater partnership with Brazilian state-run energy company, Petrobras, to develop the country’s energy resources after announcing the nationalization of YPF, its main oil producer, last week. The move, which saw Argentine president, Cristina Fernandez de Kirchner, strip a 51 percent YPF stake [...]
NGO Focus: Street Child World Cup
By Robbie Blakeley, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Football (soccer) is known in Brazil as o jogo bonito (the beautiful game) and is a concept embraced by people spanning the nation’s vastly differing social classes. Now with the world’s most popular sport bringing its most illustrious prize, the World Cup, to these shores [...]
Technology Benefits Expatriate Investors
By Nathan M. Walters, Contributing Reporter RIO DE JANEIRO, BRAZIL – Technology is changing the way the world communicates, lives, entertains, consumes, and, most recently, invests. The idea of online investing is not new, many day traders have tried their hand at online investing through sites such as E*Trade and the like (often with negative consequences). [...]
Delta Pull Out of Maracanã Stadium: Daily
By Fiona Hurrell, Contributing Reporter RIO DE JANEIRO, BRAZIL – Sports Minister, Aldo Rebelo, has made assurances that restoration work on the Maracanã Stadium in Rio de Janeiro will continue as planned despite the sudden departure of Delta Construction, part of the consortium responsible for the reform. The Maracanã Stadium is being prepared to host [...]
BB to Reduce Loan Rates Again: Daily
By Ben Tavener, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Banco do Brasil (Bank of Brazil, BB) announced yesterday that it would be reducing interest rates on personal and corporate loans. The new rates will take effect on Monday, April 23rd, and will be second cut in the rates this month. According to the [...]
Change of Prosecutor in Chevron Case
By Stephen Eisenhammer, Contributing Reporter RIO DE JANEIRO, BRAZIL – A Brazilian judge has moved the two R$20 billion civil cases against American oil company, Chevron, and rig operator Transocean, for offshore oil leaks in Brazil, to a different court in Rio de Janeiro, removing the case from the hands of Brazilian prosecutor, Eduardo Santos [...]
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