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Dilma Rousseff

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  • BRASILIA, Dec 22- Brazil's President Dilma Rousseff said on Monday she has no plans to replace the chief executive officer of state-run oil firm Petrobras, saying there was no evidence that senior management was involved in a graft scandal at the company. Speaking at a year-end breakfast with reporters in Brasilia, Rousseff also said she will take "drastic"...

  • BRASILIA, Brazil— President Dilma Rousseff on Monday sharply defended the chief executive officer of the Brazil's state-run oil company despite allegations she was told years ago about some of the irregularities that are ballooning into the nation's biggest corruption scheme yet. Rousseff said that Maria das Gracas Foster, the first female head of a major...

  • BRASILIA/ SAO PAULO, Dec 19- Brazil pledged on Friday to suspend financial support for state development bank BNDES next year, marking a major policy shift that will help trim billions of reais in subsidies that have weighed down public finances. The decision was announced by Paulo Rogerio Caffarelli, the finance minister's No. 2 official, at the end of a...

  • Brazil graft cases: Beginning of impunity's end? Friday, 19 Dec 2014 | 12:03 AM ET

    RIO DE JANEIRO— A federal investigation into a kickback scheme at Brazil's state oil company has, so far, ensnared 30 executives. And in perhaps the most stunning turn of all, the oil and mining tycoon who once was Brazil's richest billionaire is on trial for something that, until recently, was not even seen as a crime: profiting from inside information.

  • SAO PAULO, Dec 18- Brazilian President Dilma Rousseff, dogged by a multibillion-dollar corruption scandal at state-run oil company Petrobras, vowed on Thursday to stamp out graft at the flagship firm and place it under strict corporate governance. In a speech in the capital, Brasilia, Rousseff urged Brazilians not to lose faith in the vital oil producer,...

  • It also comes as some of Brazil's peers are moving to shield themselves from falling commodities prices and a general loss of confidence in emerging markets. After a long boom last decade, Brazil's economy has averaged less than 2 percent annual growth, with high inflation, during Rousseff's first four years in office. That mediocre record, along with...

  • BRASILIA, Dec 18- A congressional committee investigating a mushrooming corruption scandal at Brazil's state-run oil company Petroleo Brasileiro SA recommended on Thursday that prosecutors bring charges against 52 people for alleged money laundering and racketeering. It now goes before the two houses of Congress for debate and a final vote.

  • BRASILIA, Dec 17- Latin American leaders who for years have pressured the United States to drop its economic embargo against Cuba praised President Barack Obama for moving on Wednesday to restore diplomatic relations with its communist-run Cold War foe. U.S. policy toward Cuba has soured its reputation across much of Latin America, especially in recent years...

  • RIO DE JANEIRO, Dec 17- Petroleo Brasileiro SA's Chief Executive Officer Maria das Graças Foster said on Wednesday that she had offered to resign because of a widening alleged bribery scandal but that Brazil's President Dilma Rousseff had turned her down. "I need to be investigated, we all need to be investigated, that takes time," Foster told journalists at...

  • BRASILIA, Dec 17- Brazilian President Dilma Rousseff's approval rating has not suffered from a widening corruption scandal involving state-run oil company Petroleo Brasileiro SA and many Brazilians continue to trust her, a poll showed on Wednesday. Prosecutors have indicted nearly 40 people, including two former Petrobras directors and executives of...

  • RIO DE JANEIRO, Dec 17- Senior management at Petroleo Brasileiro SA may have to resign to avoid further delays of the Brazilian state-run oil company's audited third-quarter earnings report, Chief Executive Officer Maria das Graças Foster said on Wednesday. Foster said she had spoken to President Dilma Rousseff about the potential resignations, including...

  • Julio Camargo, a consultant for contractor Toyo Setal, and lobbyist Fernando Soares were charged along with Cervero with allegedly paying out $40 million in kickbacks to political parties, executives and contractors and accepting $13 million in bribes from Korean shipbuilder Samsung Heavy Industries, the prosecutors said in a statement.

  • The prosecutors said Nestor Cervero, the former head of Petrobras' distribution subsidiary, as well as lobbyist Fernando Soares and Julio Camargo of local contractor Toyo Setal funneled $40 million of kickbacks and accepted $13 million in bribes from Korean shipbuilder Samsung Heavy Industries. Toyo Setal and Samsung Heavy Industries were not...

  • RIO DE JANEIRO, Dec 12- Brazil's state-run oil company Petroleo Brasileiro SA said it delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe. The corruption accusations have rattled the company, which was among the world's 10 largest by market value only six years ago...

  • Newspaper: Petrobras told of corruption in 2009 Friday, 12 Dec 2014 | 5:11 PM ET

    SAO PAULO— Brazil's state-run oil company was warned five years ago of the kickback scheme that has plunged Petrobras into one of the country's worst corruption scandals, a newspaper reported Friday. The paper, Valor Economico, said it obtained documents showing that in 2009, former Petrobras executive Venina Velosa da Fonseca warned chief executive Maria...

  • SAO PAULO, Dec 12- Brazil's securities industry watchdog opened eight investigations into executives at state-controlled oil producer Petróleo Brasileiro SA related to a vast graft and money-laundering scheme inside the company, three sources with direct knowledge of the situation said. Rio de Janeiro- based CVM is also extending the inquiries to the...

  • India and Indonesia currently look the most promising, fund managers say, following the election of pro-business governments on a ticket to introduce reforms that will open up state companies to foreign investment and cut red tape. "Reformers are performers," said Bill Street, head of investments for Europe, the Middle East and Africa at State Street.

  • CURITIBA, Brazil, Dec 11- Brazilian prosecutors formally charged executives from six of the country's largest engineering firms with forming a cartel to funnel kickbacks from state-run oil firm Petrobras to the ruling political party and its allies on Thursday. They were also indicted on charges of corruption, money laundering and organized crime in a...

  • CURITIBA, Brazil, Dec 11- Brazilian prosecutors formally charged executives from six of the country's largest engineering firms of forming a cartel to funnel kickbacks from state-run oil firm Petrobras to the ruling political party and its allies on Thursday. They were also indicted on charges of corruption, money laundering and organized crime in a...

  • SAO PAULO, Dec 11- Brazilian retailers are expecting their worst Christmas season in a decade and signs are pointing to an unhappy New Year ahead. But most consumer companies, such as cosmetics maker Natura SA and apparel chain Cia Hering, are likely to continue to struggle with weak demand. Brazil's National Confederation of Commerce estimated Christmas sales...