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Politics Dilma Rousseff

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  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. The United States had warned against the new institution but its European...

  • SAO PAULO, March 27- Brazilian police on Friday arrested the CEO of Grupo Galvão, the latest executive seized in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA. Trials are underway in Curitiba, in what has become Brazil's biggest-ever corruption probe known as Operation Car Wash. Two dozen of Brazil's biggest engineering firms are...

  • SAO PAULO, March 27- Brazilian police on Friday arrested the CEO of Grupo Galvão, the latest executive arrested in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA. Trials are underway there in what has become Brazil's biggest-ever corruption probe known as Operation Car Wash. Two dozen of Brazil's biggest engineering firms are being...

  • Emerging world: Heading for contagious credit crisis? Friday, 27 Mar 2015 | 11:46 AM ET
    Aerial view of Christ the Redeemer statue, in Rio de Janeiro, June 26, 2014.

    Major emerging markets like Brazil and Russia could be at risk of a widespread credit crisis that could impact the world’s financial markets.

  • BRASILIA, March 27- Brazil's economy grew a slightly better-than-expected 0.1 percent in 2014, but sliding investment set the stage for what most observers expect will be a painful recession this year. Brazil's meager 2014 growth hanged on government consumption, a symptom of the country's deepening imbalances. While the 1.3 percent increase in public...

  • SAO PAULO/ BRASILIA, March 27- Brazil's economy grew a slightly better-than-expected 0.1 percent in 2014, but sliding investment and government spending set the stage for what most observers expect will be a painful recession this year. Last year's modest expansion, as published by the government statistics agency on Friday, was still the worst performance...

  • RIO DE JANEIRO, March 26- Brazil's state-run oil company Petroleo Brasileiro SA on Thursday named Luciano Coutinho, the head of Brazil's state development bank BNDES, as its new chairman. A close ally of President Dilma Rousseff, whom he taught economics, Coutinho is known as a strong supporter of her economic policy. Brazil's President Dilma Rousseff was...

  • BRASILIA, March 26- Brazilian authorities on Thursday said they uncovered a tax fraud scheme at the Finance Ministry's tax appeals board that may have cost taxpayers up to 19 billion reais. The news came in the midst of a multibillion-dollar corruption scandal at state oil company Petroleo Brasileiro SA, or Petrobras, that has rattled Brazil's political...

  • BRASILIA, March 26- Brazil's central bank signaled on Thursday it will continue to raise interest rates as it expects inflation to remain too high next year despite a contracting economy. "Although we have seen some progress in the stabilization of inflation expectations for 2016, we still don't consider that to be enough," central bank director Luiz Awazu...

  • BRASILIA, March 26- Inflation in Brazil will likely spike in 2015 despite a weakening economy, but prices will ease toward the center of the official target next year, the central bank said on Thursday. The central bank has raised its benchmark Selic rate by 175 basis points since October to a six-year high to counter a surge in consumer prices that weighed on the...

  • RIO DE JANEIRO, March 24- Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1. Among those issues are Brazil's...

  • BRASILIA, March 24- Brazilian President Dilma Rousseff said on Tuesday her government is firmly committed to fiscal adjustment but will not sacrifice social programs to balance its overdrawn public accounts. "The best example is that we are today sending Congress legislation to increase the value of the minimum wage," she said. The belt-tightening steps, which...

  • SAO PAULO, March 24- The Obama administration has again invited Brazil's President Dilma Rousseff for a state visit to Washington, a diplomatic breakthrough that both sides hope will lead over time to greater trade between the two biggest economies in the Americas. The dust-up led one former top aide to President Barack Obama to describe Brazil and the United...

  • BRASILIA, March 24- A plan to attract private investment to Brazil's strained port infrastructure is even more important in the face of federal budget cuts that will curb public investment, Ports Minister Edinho Araújo said in an interview. Brazilian President Dilma Rousseff said on Friday that her government would make "significant" cuts to the 2015 budget...

  • SAO PAULO, March 23- Brazil's biggest opposition party has no interest in impeaching President Dilma Rousseff despite recent street demonstrations calling for her ouster, former President Fernando Henrique Cardoso told Reuters. Cardoso, who at 83 remains an influential leader in the centrist Brazilian Social Democracy Party, said removing Rousseff so...

  • BRASILIA, March 20- Prosecutors who uncovered Brazil's biggest corruption case called on Friday for tougher prison sentences and more legal powers to crack down on rampant graft that costs taxpayers more than the annual budget for education and health. They also proposed reducing Brazil's long appeals process that often lets criminals go scot-free.

  • Economic downturn pushes Brazilians into informal economy Thursday, 19 Mar 2015 | 11:12 AM ET

    BRASILIA, March 19- Mounting job losses are pushing more and more Brazilians into the informal economy as self-employed workers, leaving them vulnerable to what could be the country's worst recession in 25 years. Self-employed workers, most of them earning no more than about $450 a month, now represent 19.5 percent of employees in Brazil's main cities- the...

  • BRASILIA, March 18- Brazil's Comptroller-General Office on Wednesday added another six construction and engineering firms to an investigation of contractors that allegedly participated in a corruption ring at state-run oil company Petrobras. A total of 24 of Brazil's top builders are being investigated for suspected overpricing of contracts in a...

  • BRASILIA, March 18- Brazilian President Dilma Rousseff accepted the resignation of Education Minister Cid Gomes on Wednesday after her allies in Congress demanded that he quit for calling them "extortionists." The quarrel added fuel to the political crisis Rousseff is facing, which could hinder her efforts to push through belt-tightening legislation...

  • BRASILIA, March 18- Brazilian President Dilma Rousseff launched an anti-corruption offensive on Wednesday to counter rising discontent over a kickback scandal engulfing state-run oil company Petrobras that has implicated her allies and undermined her popularity. Her anti-corruption proposals, contained in bills submitted to Congress, include the...