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Dilma Rousseff

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  • BRASILIA, March 12- Brazil's inflation will rise more than expected this year, but tighter monetary and fiscal policies and a slowdown in activity will ease price pressures in 2016, the central bank said on Thursday, leaving the door open for more interest rate increases. The bank continues to leave the door open for more increases, "said Thais Marzola Zara, chief...

  • Petrobras scandal pushes Rousseff coalition to the brink Wednesday, 11 Mar 2015 | 4:22 PM ET

    BRASILIA, March 11- President Dilma Rousseff can no longer count on a key ally in her ruling coalition, complicating efforts to stave off what could be the roughest patch for Brazil's economy in a quarter-century. While few expect the PMDB to formally break with Rousseff's leftist Workers' Party in coming months, such open resistance to her legislative...

  • BRASILIA, March 10- The Brazilian government agreed to a larger-than-planned income tax exemption for lower wage earners on Tuesday, avoiding an embarrassing defeat in Congress. President Dilma Rousseff in January vetoed a proposal by Congress to raise the threshold for paying income tax by 6.5 percent, which would have increased take-home pay for more...

  • BRASILIA, March 10- A former Petrobras executive told a congressional hearing in Brazil on Tuesday that the ruling political party received up to $200 million skimmed from contracts with the state-run oil company, reiterating claims made in plea bargain testimony. Pedro Barusco, a former executive at Petrobras' services division, said he had received...

  • BRASILIA, March 10- A former Petrobras executive told a congressional hearing in Brazil on Tuesday that the ruling political party received up to $200 million skimmed from contracts with the state-run oil company, publicly reiterating claims made in plea bargain testimony. Pedro Barusco, a former executive at Petrobras' services department, said he had...

  • RIO DE JANEIRO/ BRASILIA, March 9- A leader of Brazil's Congress vowed on Monday not to let his party's feud with President Dilma Rousseff damage the economy or cause the country to lose its investment grade credit rating. The comments, by Eduardo Cunha, speaker of the Chamber of Deputies and a senior figure in the PMDB Party, came as Brazilian financial markets...

  • BRASILIA, March 9- Brazil's government remains committed to austerity measures despite increasing opposition from Congress and the population at large, a top official said on Monday. Mercadante's comments came as Brazil's financial markets tumbled on Monday. Congress has pushed back in recent days against austerity measures such as an increase in payroll...

  • BRASILIA, March 8- President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and results will only start showing at the end of this year. With the economy stalled and ties with her coalition allies in disarray due to a corruption probe at state-run oil company...

  • BRASILIA, March 8- President Dilma Rousseff appealed to Brazilians on Sunday to back fiscal austerity policies, while saying that the belt-tightening will last as long as needed and positive results will only start showing at the end of this year. With the economy stalled and relations with her coalition allies in disarray due to a massive corruption...

  • BRASILIA, March 6- Brazil's annual inflation rate rose more than expected in February to the highest in nearly 10 years, drifting further away from the central bank's goal despite aggressive interest rate hikes and sputtering economic growth. The result, which topped even the most pessimistic of 28 forecasts in a Reuters poll, shows the unpopular shock therapy...

  • BRASILIA/ SAO PAULO, March 5- A corruption scandal at state-run oil company Petrobras has entered a volatile new phase that could lead to jail for some of Brazil's best-known politicians and business leaders while making a likely recession even worse. A prosecutor's motion on Tuesday to open investigations against 54 individuals, reportedly including the...

  • RIO DE JANEIRO, March 5- The opening of a Brazilian congressional probe into alleged corruption at state-run oil company Petroleo Brasileiro SA erupted into a shouting match on Thursday when lawmakers rushed the dais and accused the probe's leader of seeking to manipulate the outcome. The dispute highlights the rising tension in Congress two days after a...

  • BRASILIA, March 4- Brazil raised interest rates on Wednesday to the highest level in six years, maintaining its aggressive pace of monetary tightening to fight inflation despite fears the economy is slipping into a deep recession. Brazil is one of the few major economies raising rates as BRICS peers such as China and India are loosening monetary policy to prop...

  • Rousseff met with legislative leaders from her coalition after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil's budget. If Congress blocks them, the government will have to make deeper spending cuts elsewhere to meet its fiscal savings target of 1.2 percent of gross domestic...

  • BRASILIA, March 3- Brazil's top prosecutor asked the Federal Supreme Court on Tuesday to open investigations into politicians who allegedly benefited from a multibillion-dollar kickback scheme at state-run oil company Petroleo Brasileiro SA, a court official said on Tuesday. Janot's office did not release the names of the politicians to be investigated,...

  • SAO PAULO, March 3- Some truck drivers in Brazil continued blocking roads on Tuesday, slowing grains deliveries to southern ports, even as adherence to the strike diminished and a key highway in top soy state Mato Grosso opened. Nationwide, there were 18 roadblocks over rising freight costs by the end of the day on Monday, well below peaks of more than 100 a week ago,...

  • BRASILIA, March 2- Brazil posted its biggest trade deficit ever for the month of February as prices of key exports continued to drop, government data showed on Monday. Brazil recorded a trade deficit of $2.842 billion in February, wider than the gap of $2.2 billion expected by nine analysts surveyed by Reuters. Trade Minister Armando Monteiro has said Brazil will...

  • RIO DE JANEIRO, Feb 27- Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday that the director of its corporate-services division will take a 90- day leave of absence for health reasons. Dutra, a former Brazilian Senator, served as Petrobras' chief executive officer for two and a half years from 2002 to 2005 and president of Brazil's...

  • Private equity tops a list of potential investors in a sector that represents 10 percent of Brazil's gross domestic product and shows promise of growth but is hobbled by aging infrastructure, a dearth of qualified staff and rising costs. Two of those sources said a proposal by Carlyle Group LP to pay as much as 2 billion reais for a 30 percent stake in Rede D'Or...

  • SAO JOSE DOS CAMPOS, Brazil, Feb 26- Workers at a General Motors Co car factory in Brazil ended a six-day strike on Thursday after the company dropped plans to lay off 800 employees, the union said, ending the latest labor standoff in the troubled Brazilian auto industry. The re-elected leadership, which also organized a strike against planemaker Embraer SA last...