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Dilma Rousseff

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  • SAO PAULO, June 19- Brazilian police on Friday arrested Marcelo Odebrecht, the head of Latin America's largest engineering and construction company Odebrecht SA, local media said, pulling the most high-profile executive into the corruption investigation at state-run oil firm Petrobras. Odebrecht, which has 200,000 workers and a presence in 21 countries,...

  • BRASILIA, June 19- Economic activity in Brazil fell sharply in April from March, worse than already negative market estimates and showing still more evidence the once-booming economy is heading toward a recession. High inflation and dwindling confidence have dragged down consumption, until recently the main engine of growth in Latin America's largest...

  • BRASILIA, June 17- Brazil's highest fiscal accounting court on Wednesday said it found evidence of flawed government accounts last year, and gave President Dilma Rousseff 30 days to explain them before the court makes a final ruling. The unusual decision by the court, known as the TCU, comes at a time when political pressure is building for Rousseff to reverse...

  • BRASILIA, June 16- Brazilian President Dilma Rousseff will veto a hike in pension benefits she believes jeopardizes the long-term sustainability of one of the world's most generous welfare systems, two officials familiar with the decision told Reuters on Tuesday. The changes, which were approved by Congress, would cost the government an extra 3.2 trillion...

  • RIO DE JANEIRO, June 16- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • RIO DE JANEIRO, June 15- Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry. However, executives at Petroleo Brasileiro SA, as Petrobras is formally known, have run into internal and...

  • Brazil partnered with Ukraine over the past decade to develop a launch vehicle at the Alcantara base on its northern Atlantic coast. But Brazil ended the program in February, saying that Ukraine's financial problems left it unable to provide rockets as promised. But the tenor of the visit, which marks a rapprochement between Brazil and the United States after...

  • BRUSSELS, June 11- Unable to match China's offer of $250 billion in investment in Latin America, the EU sought ways on Thursday to avoid being marginalized in the region, offering new trade deals, visa-free travel and deeper ties. At a two-day summit with Latin American leaders in Brussels, European leaders briefly put aside concerns about Greece, Ukraine and...

  • MELBOURNE, June 10- London copper edged up in light trade on Wednesday as the dollar weakened, but expectations of slowing demand in summer capped demand. It found support at the 100- day moving average of $5,935 a tonne, recovering from six-week lows of $5,885 tipped on Friday with less than 5 lots turnover in the first hour of trade. *The most-traded August copper...

  • The infrastructure plan is meant to restore growth to Brazil's faltering economy and raise Rousseff's popularity, which has been battered by high inflation, rising unemployment and a corruption scandal at state-run oil company Petrobras. The World Economic Forum ranks Brazil only 120th out of 144 countries for overall quality of infrastructure, with...

  • BRASILIA, June 9- President Dilma Rousseff unveiled a concession program on Tuesday to draw 198.4 billion reais in private investment over five years to upgrade and operate Brazilian roads, railways, airports and harbor terminals. The logistics plan includes 4,371 kilometers of new highways, the extension of existing railway concessions and the private...

  • BRASILIA, June 9- President Dilma Rousseff unveiled a concession program on Tuesday aimed at drawing 198.4 billion reais in private investment to upgrade and operate Brazilian roads, railways, airports and harbor wharfs. A government presentation said the new concessions will have access to less state bank financing in the midst of Brazil's current drive to...

  • SAO PAULO, June 8- Brazil's auto industry is expecting this year's downturn to be its worst since 1998, according to estimates on Monday by national automakers association Anfavea, which slashed its 2015 outlook for the second time in two months. President Dilma Rousseff has also withdrawn subsidies in a recent austerity push, deepening the industry's crisis...

  • RIO DE JANEIRO, June 7- Renowned Brazilian fund manager Luis Stuhlberger warned Brazil's economy is at risk of suffering a new lost decade, saying recent efforts to balance its finances are not enough and that growth will remain lackluster until at least 2018.. Brazil is in the process of trying to cut back spending in a bid to convince investors that President...

  • SAO PAULO, June 3- Moody's Investors Service expects to decide whether to downgrade Brazil's credit rating only after its analysts meet with the country's policymakers in the third quarter, said senior analyst Mauro Leos at the rating agency on Wednesday. The agency assigned a negative outlook to Brazil's Baa2 credit rating last September, warning it could...

  • RIO DE JANEIRO/ BRASILIA, May 29- The Brazilian government is looking beyond fiscal austerity to avoid a recession, Finance Minister Joaquim Levy said on Friday, signaling what could be a new phase in the administration's strategy to pull the economy out of its lull. Picked by President Dilma Rousseff to undo many of the policy missteps threatening Brazil's...

  • BRASILIA, May 29- Brazil's economy shrank 0.2 percent in the first quarter, setting the stage for a likely recession this year as companies slash investments and leftist President Dilma Rousseff tries to atone for policy missteps from her first term in office. Brazil's short-term interest rate futures rose early Friday as traders bet the economy's relative...

  • BRASILIA/ RIO DE JANEIRO, May 28- Brazil's central bank risks causing unnecessary damage to a struggling economy if it raises interest rates even more in coming weeks, a growing number of economists and business leaders warn. Brazil's rate hike cycle, the most rigorous among major economies in 2015, is an effort to tamp down inflation, currently running at above 8...

  • RIO DE JANEIRO, May 27- Brazil's state-run oil company, Petroleo Brasileiro SA, will pay employees 1.04 billion reais in bonuses for 2014 despite recording its largest-ever loss and rejecting investor dividends, a company union said on Wednesday. While Brazil's government owns a majority of voting common shares, non-government investors, primarily holders...

  • BRASILIA, May 27- Brazil's Senate on Wednesday approved an austerity measure that cuts pension benefits as part of President Dilma Rousseff's drive to reduce a widening fiscal deficit and regain investors' confidence in the once-booming economy. On Tuesday, the Senate approved a similarly watered-down version of another measure curbing unemployment...