New Business Hub Helps U.K. Exporters Set Up in Brazil

New Business Hub Helps U.K. Exporters Set Up in Brazil

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite forecasts of a difficult year for Brazil’s economy, a business initiative, Brazil Business Hub, was launched last week in the United Kingdom to assist companies which want to export to Brazil and tap into the largest economy in South America and one of the […]

Petrobras CEO Steps Down Amid Corruption Scandal

Petrobras CEO Steps Down Amid Corruption Scandal

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After months of scandals which have led to a strong devaluation of Petrobras’ shares and a downgrade by a major credit rating company, its CEO, Maria das Graças Foster, resigned this morning (February 4th) after rumors flew around yesterday about her leaving at the beginning […]

Brazil May Increase Ethanol Blend in Gasoline to 27 Percent

Brazil May Increase Ethanol Blend in Gasoline to 27 Percent

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – An agreement between the Brazilian government and the country’s automotive and sugar-ethanol industry will increase the blend of ethanol in gasoline from 25 percent to 27 percent starting February 15th. The final proposal, however, still needs to be authorized by Brazilian President Dilma Rousseff. The […]

Brazil’s Congressional Representatives Sworn In

Brazil’s Congressional Representatives Sworn In

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s newly elected Chamber of Deputies and Senate representatives were sworn in and the speakers for the two Congressional Houses were chosen on Sunday, February 1st. The election in the Lower House caused some discomfort for President Dilma Rousseff’s administration as the government’s candidate was […]

Petrobras Losses to Corruption May Top US$1.5 Billion

Petrobras Losses to Corruption May Top US$1.5 Billion

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The investigation which seeks to determine the financial losses to Brazil’s oil giant, Petrobras, due to Operação Lava Jato (Operation Carwash) may take up to three years to be concluded and total R$4.06 billion (over US$1.5 billion), according to Petrobras President, Maria das Graças Foster. […]

Domestic Air Travel in Brazil Grew in 2014

Domestic Air Travel in Brazil Grew in 2014

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite the economic slump faced by Brazil in 2014, domestic air transportation demand in Brazil grew by 5.7 percent last year, according to ABEAR (Brazilian Association of Airline Companies). According to the association however the growth is lower than that registered in 2013, when the […]

Brazil’s Rousseff Urges Cabinet to Reduce Spending

Brazil’s Rousseff Urges Cabinet to Reduce Spending

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s President, Dilma Rousseff, asked cabinet ministers to maintain strict control over government spending and combat corruption, during a meeting with her new cabinet members on Tuesday, January 27th. This is Rousseff’s first cabinet meeting since she started her second term in office, on January […]

Brazil’s Petrobras Releases Third Quarter of 2014 Results

Brazil’s Petrobras Releases Third Quarter of 2014 Results

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After twice postponing the release of the third quarter financial results for 2014, Brazilian oil giant Petrobras released the report early Wednesday (January 28th) morning. The results show a net profit of R$3.084 billion. These results represent a 38 percent decline from the second quarter […]

Brazil Registers Record Deficit in Current Accounts

Brazil Registers Record Deficit in Current Accounts

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s current accounts in 2014 registered a record deficit of US$90.948 billion, according to data released by Brazil’s Central Bank (CB) on Friday, January 23rd. The result was well above 2013’s deficit of US$81.108 billion and the highest registered since the CB started the series […]

Ex-Petrobras Director Got US$1.5 Million For Pasadena Deal

Ex-Petrobras Director Got US$1.5 Million For Pasadena Deal

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Former Petrobras director, Paulo Roberto Costa, told investigators that he received US$1.5 million from a lobbyist to aid in the purchase of the Pasadena refinery in the United States. The statement was made in September as part of his agreement with authorities for a reduced […]