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By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Petrobras, the oil giant of Brazil, announced its third quarter results yesterday (Tuesday, November 14th), with a net profit of R$266 million for the three-month period. The results were significantly...
By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – The city of Rio de Janeiro has lost more than R$657 million of its tourism revenues during the eight first months of the year due to crime and violence,...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Unable to obtain the expected revenues Brazil’s federal government announced on Tuesday it was increasing the nation’s budget deficit target by R$20 billion this year, from R$139 billion to R$159...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Faced with dwindling revenues, Brazil’s federal government decided to raise fuel taxes. The government’s objective is to raise R$10.4 billion with the additional levy and meet the primary deficit fiscal...
By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Tourism in the state of Rio de Janeiro lost R$320 million in revenues in the first four months of 2017, according to data compiled by the National Confederation of...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Tension between Brazil’s Foreign Ministry and Tourism Ministry over visa exemptions to certain countries, was revealed by local media over the weekend. While Tourism minister sees the exemption as an...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Large crowds during Carnival are no longer restricted to Rio de Janeiro, with São Paulo and Brasília registering significant increases this year in the number of tourists coming into these...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The 2017 Carnival festivities around the country this year are expected to move R$5.8 billion in tourism activities this year, according to a survey conducted by the National Confederation of...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The consolidated public sector in Brazil (federal, state, municipal and state-owned companies) registered a primary deficit of R$155.8 billion in 2016 according to the country’s Central Bank (CB). The deficit...
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The governor of Minas Gerais, Fernando Pimentel, declared a state of ‘financial calamity’ this week, claiming the state registers a deficit of R$8 billion due to the continuing increase in...
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