Decisive Week in Brazil for Top Petrobras Executives

Decisive Week in Brazil for Top Petrobras Executives

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – This will be a decisive week for top executives at Brazil’s oil giant Petrobras, say analysts, as additional reports reveal that directors and even the company’s president, Maria das Graças Foster, have known for years that some of the company’s key directors were receiving bribes. […]

Money Laundering Scheme in Brazil Indicts Twelve Executives

Money Laundering Scheme in Brazil Indicts Twelve Executives

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Federal Police in Brazil has indicted twelve executives from four construction giants being investigated in the Petrobras money laundering scandal. According to the government agency, a lobbyist for some of these companies has also been indicted. The indictments are the latest in a series […]

Brazil 69th in Transparency International’s Corruption Ranking

Brazil 69th in Transparency International’s Corruption Ranking

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – According to Transparency International’s Corruption Perception Index, Brazil was ranked 69th among 175 countries, up from last year when it ranked 72nd among 177 countries. The Index, prepared since 1995 measures the perceived levels of public sector corruption in the countries surveyed based on data […]

Brazil’s CB Freezes R$47 Million in Assets from Lava Jato Scheme

Brazil’s CB Freezes R$47 Million in Assets from Lava Jato Scheme

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Central Bank of Brazil announced Thursday, November 20th, it has frozen more than R$47 million in assets from individuals and companies arrested last week in the Lava Jato (Carwash) money-laundering scheme involving Brazil’s oil giant, Petrobras. The measure had been requested by Federal Judge […]

Scandal Oveshadows Petrobras Record Production Results

Scandal Oveshadows Petrobras Record Production Results

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – What started out as a scheduled meeting by Petrobras officials to announce the company’s quarterly operational results turned into a teleconference to discuss the worst scandal ever faced by the oil giant and its impacts on the company and the market. Instead of talking about […]

Brazil Arrests Another 36 in Money-Laundering Operation

Brazil Arrests Another 36 in Money-Laundering Operation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s federal police started Friday morning (November 14th) enforcing 36 arrest warrants and 49 search and seizure orders in the cities of Paraná, São Paulo, Rio de Janeiro, Minas Gerais, Pernambuco, and Brasilia, as part of the on-going investigations into a multi-million reais money-laundering scheme […]

Opinion: A Smidgen on the Easy Life

Opinion: A Smidgen on the Easy Life

Opinion, by Michael Royster RIO DE JANEIRO, BRAZIL – Yesterday’s news is that the Lava-Jato (“Car Wash”) investigation being carried out by the Federal Police has resulted in the arrest and interrogation of dozens of executives of HUGE construction companies, all of which had HUGE contracts (billions) with Petrobras, and all of which were HUGE […]

Officials in Brazil Ask SBM For Help in Bribery Investigation

Officials in Brazil Ask SBM For Help in Bribery Investigation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s Corregedoria Geral da União – CGU, (Comptroller General’s Office), filed an inquiry against Netherland’s SBM Offshore NV for bribery allegations, but hopes the company will help the South American country in its investigation involving its oil giant, Petrobras. “Based on results of the partial […]

Petrobras Increases Prices of Gasoline, Diesel Fuel at Refineries

Petrobras Increases Prices of Gasoline, Diesel Fuel at Refineries

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras announced Thursday afternoon an increase in gasoline and diesel prices. According to the state-controlled petroleum giant prices of gasoline at refineries increased by three percent, while prices of diesel oil went up by five percent. The increases went into effect at midnight on Friday, […]

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 […]

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