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Business South America

  • LIMA, March 22- A railway used by copper, zinc and silver mines to transport concentrates from Peru's central Andes to port is likely be out of action for at least two to three weeks following deadly floods and mudslides, a minister said on Wednesday. Even after the railway resumes operations, exports from the port of Callao near Lima could be delayed by two to three...

  • CARACAS/ PUNTO FIJO, Venezuela, March 22- G rumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves. Venezuela, which also has the world's cheapest gasoline, has wrestled with intermittent gasoline shortages in recent months, especially...

  • BRASILIA/ SAO PAULO, March 22- Brazil's antitrust watchdog Cade on Wednesday approved BM&FBovespa SA's takeover of rival Cetip SA Mercados Organizados, and will not require any antitrust measures beyond those the exchange and clearinghouse firms proposed themselves. The spike in shares was "mainly due to the approval of the deal with remedies that were not...

  • Google, owned by Alphabet Inc, said audio-only calls on Duo would be available from Wednesday in Brazil, and would be rolled out to users around the world in the coming days. With more than 139 million people online, Brazil ranks among the top five internet populations in the world. In response to requests from users in countries like Brazil, Google said that Android...

  • ANTOFAGASTA, Chile, March 22- Leaders of the striking union at BHP Billiton's Escondida mine in Chile will meet with the rank-and-file before making any additional decisions about negotiations, a union spokesman said after exiting a meeting with BHP on Wednesday. "No comment, we're going to meet with the base," union spokesman Carlos Allendes told reporters.

  • Maggi, a former state governor and a billionaire soy farmer, told a Senate Committee that his main concern was that China and Hong Kong have not yet taken a definitive stance on their bans of meat from Brazil, the world's biggest producer of beef and poultry. China and Hong Kong are the top two importers of Brazilian meats, last year buying nearly one-third of the $14...

  • RIO DE JANEIRO _ Petroleo Brasileiro SA- Petrobras on Tuesday reported fourth-quarter net income of $754 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Rio De Janeiro- based company said it had net income of 12 cents. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20...

  • SAO PAULO— Brazil's meat exports effectively collapsed this week, the agricultural minister said Wednesday, as several countries halted imports from the South American country in the wake of a meat inspection scandal. Brazil is struggling to contain the scandal, in which investigators say that health inspectors were bribed to overlook expired meats and...

  • BRASILIA/ SAO PAULO, March 22- Brazil's antitrust watchdog Cade on Wednesday approved BM&FBovespa SA's takeover of rival Cetip SA Mercados Organizados, and will not require any antitrust measure beyond those the exchange and clearinghouse proposed for themselves. Trading transactions in Brazil are settled through a central counterparty clearinghouse, a...

  • LANGKAWI, Malaysia, March 22- France's Rafale fighter jet is emerging as the frontrunner as Malaysia looks to replace its aging fleet of combat aircraft, a source in the Southeast Asian nation's defence ministry said on Wednesday, despite narrowing its defence spending this year. French President Francois Hollande was expected to make a pitch for the Rafale,...

  • LANGKAWI, Malaysia, March 22- France's Rafale fighter jet is emerging as the frontrunner as Malaysia looks to replace its aging fleet of combat aircraft, a source in the Southeast Asian nation's defense ministry said on Wednesday, despite narrowing its defense spending this year. French President Francois Hollande was expected to make a pitch for the Rafale,...

  • SAO PAULO, March 21- Brazil's President Michel Temer said on Tuesday a pension reform proposed by his administration would only apply to federal employees and would not address systems managed by state governments or large cities in the South American country. Brazil's center-right government has repeatedly said that reining in pension costs by imposing a...

  • LAPA, Brazil, March 21- Brazil's federal police and agriculture ministry said late Tuesday that sanitary and corruption problems found in the nation's meatpacking industry were isolated incidents, an attempt to tamp down a scandal that has led the Latin American nation's biggest export markets to ban its meats. But Hong Kong, Japan, Canada, Mexico and...

  • LAPA, Brazil, March 21- Brazil's federal police and agriculture ministry said late Tuesday that sanitary and corruption problems found in the nation's meatpacking industry were isolated incidents and that the nation's food safety system nationwide was robust. But Hong Kong, Japan, Canada, Mexico and Switzerland all announced partial or all-out bans on...

  • SAO PAULO— Brazil's state-run oil company says it posted a $4.8 billion loss in 2016 mainly because of a reduction in the value of assets it needs to sell to lower a debt estimated at more than $100 billion. Petrobras says in a statement filed Tuesday with the country's Securities Exchange Commission that the year-end result is also due to the $6.8 billion it...

  • RIO DE JANEIRO/ SAO PAULO, March 21- Brazilian state-controlled oil company Petróleo Brasileiro SA missed fourth-quarter profit estimates on Tuesday after revenue came in well below expectations. According to a statement, Petrobras earned net income of 2.510 billion reais last quarter, reversing a loss of 16.458 billion reais in the third quarter.

  • LAPA, Brazil, March 21- Brazilian authorities on Tuesday began scouring meat plants closed after a probe into corruption by health inspectors and the alleged sale of rotten products, as Hong Kong dealt a blow to the world's top beef and poultry exporter with an import ban. China is the largest consumer of Brazilian meat, followed by Hong Kong.

  • CARACAS, March 21- Venezuela has stopped publishing money supply data, depriving the public of the best available tool to ascertain soaring inflation in one of the world's worst-performing economies. In contrast, neighboring Colombia's M2 was up 7 percent in the same period and the United States' was up 6 percent. "If they are not publishing, you know it must be...

  • The 14 search and seizure warrants were issued by the Supreme Court based on information provided by executives of engineering conglomerate Odebrecht SA in plea bargain deals tied to the graft probe, police said in a statement. The raids took place in the cities of Brasília, Maceió, Recife, Rio de Janeiro and Salvador. Globo News TV said the investigation...

  • BRASILIA, March 21- Brazil's Trade Minister Marcos Pereira said on Tuesday that the problem of a corruption scandal uncovered at a few Brazilian meatpackers will not be discussed at this week's meeting of European Union negotiators with the Mercosur trade bloc in Buenos Aires. The European Union curtailed meat imports from Brazil on Monday after police...