Number of Millionaires in Brazil Decreases by 6.4 Percent

Number of Millionaires in Brazil Decreases by 6.4 Percent

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Facing one of the worst economic crisis in decades and a series of political scandals, Brazil lost approximately twelve thousand HNWI (high net worth individuals), or super-rich, in 2015, according to a study conducted by Capgemini. The study shows that the number of Brazilian HNWI […]

Brazil’s Chamber Lifts Limit of Foreign Capital in Airline Sector

Brazil’s Chamber Lifts Limit of Foreign Capital in Airline Sector

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Chamber of Deputies in Brazil approved on Tuesday (June 21st) by 199 votes to 71 a legislative measure that will allow foreign companies to have total capital control of Brazilian airlines. Currently foreign participation in Brazilian airlines is limited to twenty percent, and the […]

Brazil’s Federal Government Announces R$2.9B for Olympics

Brazil’s Federal Government Announces R$2.9B for Olympics

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The federal government in Brazil announced R$2.9 billion-worth in financial aid to Rio de Janeiro to help the state put on the 2016 Olympic and Paralympic Games. According to officials the resources will be exclusively used to help pay for security during the events. On […]

Domestic Airline Travel in Brazil Falls 8.2 Percent in 2016

Domestic Airline Travel in Brazil Falls 8.2 Percent in 2016

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Since the start of the year, Brazil’s aviation industry, particularly on the domestic front, has been feeling the effects of the country’s weak economy and political turmoil. On Tuesday, June 21st, the Brazilian Association of Airlines (ABEAR) released its latest figures for the year so […]

Telecom Oi Files for Largest Ever Judicial Recovery in Brazil

Telecom Oi Files for Largest Ever Judicial Recovery in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – One of Brazil’s largest telephone carriers, Oi, filed a bankruptcy recovery request on Monday, June 20th, in Rio de Janeiro after restructuring talks with major shareholders failed. The company is said to register debts totaling R$65.4 billion. The recovery request is said to be the […]

Rio Declares State of Financial Emergency Before Olympics

Rio Declares State of Financial Emergency Before Olympics

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – On Friday, Rio de Janeiro’s acting governor, Francisco Dornelles, alarmed international media by declaring a financial emergency in the state. However Rio’s mayor, Eduardo Paes assured reporters on Sunday that the current financial crisis faced by the state will have no affect on the 2016 […]

Brazil Expected to Register Negative Fiscal Results in 2017

Brazil Expected to Register Negative Fiscal Results in 2017

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Government officials in Brazil admitted on Thursday that it will be very difficult not to register a negative fiscal target in 2017. The previous forecast for next year was that of a zero primary surplus, but after a wage increase for all federal employees was […]

UN Says Brazil Pulls Down Region’s Foreign Investments

UN Says Brazil Pulls Down Region’s Foreign Investments

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The slowdown of the Brazilian economy was one of the key factors for the decline in foreign direct investments (FDI) inflows in Latin America and the Caribbean in 2015, according to the Economic Commission for Latin America and the Caribbean (ECLAC). According to the United […]

Billion-Dollar Suit Against Vale, BHP Dismissed in Brazil

Billion-Dollar Suit Against Vale, BHP Dismissed in Brazil

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Brazilian mining giant, Vale, announced on Monday that a twenty billion reais (US$5.7 billion) civil suit filed against Samarco, Vale and BHP for the dam accident in Mariana, Minas Gerais in November of 2015 has been dismissed. Thousands of other civil suits, however, have […]

Rio de Janeiro State Cuts Social Programs to Reduce Deficit

Rio de Janeiro State Cuts  Social Programs to Reduce Deficit

By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Facing one of the worst economic crises in its history, the Rio de Janeiro state government announced Thursday a series of decrees to curb expenditure. Among the actions is the suspension of social programs and reduction of state secretaries, from 25 to 20. According […]

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