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South America

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  • BRASILIA, Nov 24- Brazil's current account deficit widened in October from the previous month, highlighting the rapid deterioration of the external accounts as prices of key exports drop sharply. Brazil's current account deficit in September was $7.907 billion. In the last 12 months through October, the current account deficit was equivalent to 3.73 percent...

  • Chilean moms growing support for medical marijuana Monday, 24 Nov 2014 | 12:08 AM ET

    SANTIAGO, Chile— Paulina Bobadilla was beyond desperate. Bobadilla's desperation to ease her daughter's condition is an emotion familiar to other Chilean parents who say medical marijuana can help their children and who, rather than wait for Congress to act, have taken matters into their own hands. Chile allows consumption of the drug, but growing, selling or...

  • SAO PAULO, Nov 23- Brazilian President Dilma Rousseff's new, still unconfirmed economic team is preparing budget cuts for 2015 that will be announced next week, newspaper Folha de S. Paulo reported on Sunday. Three of the country's leading newspapers reported on Friday that Rousseff will appoint Joaquim Levy, head of the asset management arm of Brazil's...

  • Influx of cheap Peruvian quinoa riles Bolivia Saturday, 22 Nov 2014 | 12:01 AM ET

    LA PAZ, Bolivia— International demand for quinoa continues to boom, and that's fueling an increasingly bitter commercial feud between Bolivia and Peru, the two main producers of the Andean "superfood." Peru is about to overtake Bolivia as the top exporter, worrying Bolivians about their ability to compete. As Peru boosts production of cheaper factory-farmed...

  • SAO PAULO/ BRASILIA, Nov 21- President Dilma Rousseff expects a bribery scandal at state-run oil company Petrobras to deteriorate in coming months, aides say, with arrests possible for some political allies and potentially serious damage to an economy that is already struggling. Prosecutors say corrupt officials siphoned billions of dollars from Petroleo...

  • SAO PAULO, Nov 21- Brazil's JBS SA, the world's largest beef exporter, said on Friday its $1.25 billion purchase of Australian processed foods producer Primo Smallgoods would increase its presence in Asia. JBS hopes to increase sales to South Korea, Singapore, Hong Kong and China, where it is already the biggest protein supplier, Chief Executive Officer Wesley...

  • CURITIBA, Brazil, Nov 20- In a country where big court cases often drag on for a decade or more and abruptly fall apart on technicalities, the man leading a bribery probe at Brazil's state-run oil firm Petrobras is described by allies and even rivals as perfectly suited to the task. Moro, 42, is now pushing forward a case that has already seen dozens of arrests of major...

  • BRASILIA/ SAO PAULO, Nov 20- The chief executive of Brazilian bank Bradesco SA will not be the country's next finance minister, a government official told Reuters on Thursday, after two local newspapers reported he turned down the job in a major setback for recently re-elected President Dilma Rousseff. Since winning a runoff vote on Oct. 26, Rousseff has yet to name...

  • BRASILIA, Nov 20- Luiz Carlos Trabuco, the head of Brazil's second largest private bank Bradesco SA, has emerged as President Dilma Rousseff's first choice for finance minister as she tries to rebuild the trust of investors to revive a stagnant economy. Trabuco has a good reputation in Brazil's business world and his nomination would signal that Rousseff might...

  • Venezuelan consumers get creative amid shortages Thursday, 20 Nov 2014 | 12:05 AM ET

    CARACAS, Venezuela— Cloth diapers, baking soda to make deodorant and vinegar to mop the floor. That's not the shopping list of an eco-friendly hipster, it's how an increasing number of resourceful Venezuelans are making do in a time of severe shortages. Lilian Ribas, who makes a living selling loudly colored tank-tops and hot pants, burns a coil of chrysanthemum...

  • Environmentalists: Brazil's greenhouse gases rise Wednesday, 19 Nov 2014 | 12:02 PM ET

    The report said that soil use changes in 2013 accounted for 16.48 percent of the emissions due to increased deforestation levels in the Amazon region and in the savanna-like ecosystem known as the Cerrado in central Brazil. Climate Observatory's secretary general, Carlos Rittl said in a statement that Brazil is not investing enough in alternative sources...

  • Guyana reports rice surplus, seeks new markets Wednesday, 19 Nov 2014 | 9:51 AM ET

    GEORGETOWN, Guyana— The South American country of Guyana is reporting a record rice harvest and is seeking new markets for its surplus. The general manager of the Rice Development Board says farmers have produced nearly 627,000 metric tons of rice this year. Venezuela, Nicaragua and Panama are among the top current buyers.

  • Brazil judge releases 11 pending Petrobras trial Wednesday, 19 Nov 2014 | 9:41 AM ET

    SAO PAULO— A federal judge has released 11 of the 24 people arrested in the corruption scandal engulfing Brazil's state-owned oil company Petrobras pending the trial in the case. Petrobras is Brazil's biggest company and is in charge of tapping big offshore oil fields and creating wealth that leaders hope will propel the country to developed world status.

  • NEW YORK, Nov 18- Several high-profile U.S. investors said on Tuesday that various parts of Latin America could outperform in the next year, but the region's largest economy, Brazil, could lag in 2015.. The sovereigns have certainly proven that, "said Luz Padilla, DoubleLine Capital's director of emerging markets fixed income, at the Reuters Global Investment...

  • Brazil ex-billionaire on trial for insider trading Tuesday, 18 Nov 2014 | 11:34 AM ET

    RIO DE JANEIRO— Brazil's one-time richest man, whose meteoric rise to No. 7 on the Forbes billionaires list and equally spectacular bust came to symbolize the country's economic fortunes, went on trial Tuesday in a historic insider trading case seen as a blow against an ingrained culture of impunity. Eike Batista was on hand at the Rio de Janeiro federal court for...

  • Not feeling sexy? Try frogs in a blender! Tuesday, 18 Nov 2014 | 12:09 AM ET

    And the frogs that Peruvians use are from the Telmatobius culeus species, a water frog from remote Lake Titicaca that is listed as critically endangered by the International Union for Conservation of Nature. Entire frogs are the main ingredient in a juice blend some people in Peru and Bolivia believe can cure asthma, bronchitis, sluggishness and a low sex drive.

  • Venezuela's Maduro says oil price meeting planned Monday, 17 Nov 2014 | 9:25 PM ET

    CARACAS, Venezuela— Venezuela President Nicolas Maduro says a special meeting of oil-producing countries is being planned to discuss falling global oil prices. Maduro said Monday in a televised address that a meeting of OPEC and non- OPEC nations is in the works, without providing more details. Venezuela's president said that Foreign Minister Rafael Ramirez...

  • DIARY - Emerging Markets Economic Events to Dec 1 Monday, 17 Nov 2014 | 7:02 PM ET

    Nov 18- For other related diaries, please. MAKATI CITY- Asian Development Bank to launch the latest Asian Economic Integration Monitor- 0130 GMT. BRASILIA- Brazil Central Bank President Alexandre Tombini may speak at congressional commission about deterioration of the country's fiscal results.

  • RIO DE JANEIRO, Nov 17- Brazil's state-run oil company Petroleo Brasileiro SA vowed on Monday to fully investigate a graft scandal that has knocked its shares lower and saddled President Dilma Rousseff's government with its biggest political crisis. That raises the prospect of a long period of uncertainty for a company that was once the crown jewel of...

  • Petrobras to create department to fight corruption Monday, 17 Nov 2014 | 11:35 AM ET

    SAO PAULO— The head of Brazil's Petrobras vowed Monday to use a widening corruption scheme to improve governance at the state-run oil giant, in part through creation of a compliance department aimed at stamping out corruption. In her first public remarks since the arrests of around two dozen people including a top company executive late last week, Graca Foster...