Brazil’s Stock Market Tumbles With Rousseff Re-Election

Brazil’s Stock Market Tumbles With Rousseff Re-Election

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s stock market (Bovespa) tumbled on Monday, as the financial market reacted negatively to the re-election of incumbent president Dilma Rousseff on Sunday, falling by as much as 6.18 percent during the morning trading hours and closing down by 2.77 percent, at 50,503 points. “The […]

Petrobras Executive Refuses to Testify Before Congress: Daily

Petrobras Executive Refuses to Testify Before Congress: Daily

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Former Petrobras director, Paulo Roberto Costa, sat for almost three hours in front of a Congressional Committee created to investigate corruption allegations within the state-controlled petroleum giant and said nothing. “I have nothing to declare,” said Costa over eighteen times to Senators and Chamber Representatives […]

Petrobras Kickback Scandal Shakes Up Presidential Race

Petrobras Kickback Scandal Shakes Up Presidential Race

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – With less than a month to go before Brazil’s Presidential elections, illegal kickback accusations made by a former Petrobras director, Paulo Roberto Costa, are shaking up the presidential race. Reportedly, Costa mentions more than thirty names, including politicians, congressmen, governors and state ministers, who he […]

Brazil Finance Minister Mantega Proposes 2015 Budget: Daily

Brazil Finance Minister Mantega Proposes 2015 Budget: Daily

By Chesney Hearst, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – On Thursday, August 28th, Brazilian government officials delivered the 2015 Brazilian budget draft, the Projeto de Lei Orçamentária Anual (PLOA) 2015, to Congress. Betting on economic improvements in Brazil and internationally during 2015, the proposal forecasts a three percent growth of Brazilian Gross Domestic […]

The British Consulate Seminar for Rio Oil & Gas 2014

The British Consulate Seminar for Rio Oil & Gas 2014

By Sarah Brown, Contributing Reporter RIO DE JANEIRO, BRAZIL – British oil and gas companies looking for overseas expansion will have the opportunity to glean valuable market insights within Brazil as the British Consulate in Rio de Janeiro welcomes their arrival with a series of seminars, testimonials and presentations at this year’s Rio Oil & […]

Petrobras Forecasts Hike in Production, Exports and Prices

Petrobras Forecasts Hike in Production, Exports and Prices

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite continuing to set records for oil production in the past few months, net profits for Brazil’s giant oil conglomerate, Petrobras, plunged 25 percent, to R$10.3 billion in the first semester of 2014 in comparison to the same period last year. In both June and […]

Brazil Petroleum Production Sets Record in June: Daily

Brazil Petroleum Production Sets Record in June: Daily

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Oil production in Brazil set a record in June, totaling 2.79 million barrels of BOE (barrel of oil equivalent), according to data from the ANP (National Petroleum Agency). The volume is 2.6 percent greater than that registered in May of 2014 and 6.9 percent higher […]

Tax Income Increases from Small and Medium-Sized Companies

Tax Income Increases from Small and Medium-Sized Companies

By Sarah Brown, contributing reporter RIO DE JANEIRO, BRAZIL – It is the small to medium-sized companies that are gaining the bigger profits in Brazil against last year’s figures, according to the Internal Revenue Sector. They state that the low growth of federal revenues in the first semester is linked to the performance of the […]

Opinion: The Curmudgeon on “A Billion Here, a Billion There…”

Opinion: The Curmudgeon on “A Billion Here, a Billion There…”

Opinion, By Michael Royster RIO DE JANEIRO, BRAZIL – The Curmudgeon quotes former [U.S.] Senator Everett Dirksen (R-Ill): “A billion here, a billion there; pretty soon, you’re talking real money.” And again: “A billion here, a billion there, a billion somewhere else, three to five billion for public works. You haven’t got any budget balance […]

Brazil Petroleum Deficit of R$6 Billion in 2014

Brazil Petroleum Deficit of R$6 Billion in 2014

By Lise Alves, Contributing Reporter SÃO PAULO, BRAZIL – The petroleum sector trade balance in Brazil registered a deficit of R$6.059 billion during the period from January to April of 2014, according to the nation’s Ministry of Development, Industry and Foreign Trade (MDIC). The result, however, is better than that registered during the same period […]

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