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  • DIARY-Emerging Markets Economic Events to Aug 4 Tuesday, 21 Jul 2015 | 8:01 PM ET

    PRETORIA- South African Reserve Bank interest rate decision- 1300 GMT. ANKARA- Central Bank of Turkey to hold monetary policy committee meeting to set interest rates. JERUSALEM- Bank of Israel interest rate decision- 1330 GMT.

  • SAO PAULO— Three top officials of Brazil's Camargo Correa construction company have become the first business executives to be convicted in the corruption-kickback scandal engulfing state-run oil company Petrobras. Dalton Avancini, Camargo Correa's chief executive officer; Eduardo Leite, the company's vice president; and Joao Auler, the company's...

  • RIO DE JANEIRO, July 20- Three executives of Brazil's Camargo Correa group were convicted on Monday of money laundering, corruption and other charges, the first construction-industry executives to be sentenced in a giant price fixing and bribery scandal involving state-run oil company Petrobras. The ruling was handed down by Judge Sergio Moro of Brazil's...

  • CARACAS, Venezuela— A food industry group said Monday that Venezuela's government has ordered companies to distribute food staples to a network of state-run supermarkets amid chronic shortages of basic goods. Chamber President Pablo Baraybar warned that the order could cause major supply problems. The administration of President Nicolas Maduro...

  • Belo Monte's second line will be Brazil's longest, stretching 2,500 kilometers from the hydroelectric complex in northern Para state in the Amazon jungle to southeastern Rio de Janeiro. The Chinese state-owned company, which had already won the concession for the first line in 2013, bid against Spain's Abengoa in the auction for the project estimated to...

  • July 17- U.S. exports of refined petroleum products to Latin America have soared over the past decade as strong economic growth in the region boosted demand while inadequate refinery investment limited supply. *Last year, it had pledged to invest $2.8 billion in refinery upgrades. *State-run oil company Petrobras hopes to boost the crude processing capacity of...

  • Refiners made billions by turning half of that extra supply into products such as gasoline and diesel that could be freely exported to countries including Brazil and Colombia. That is equivalent to the combined imports by Brazil and Ecuador, two of the biggest buyers of U.S. fuel, in the first four months of the year. To be sure, struggling economies, such as...

  • RIO DE JANEIRO, July 16- Brazil's state-run oil company Petroleo Brasileiro SA is working to bring domestic diesel and gasoline prices into parity with international levels in order to attract downstream buyers or partners, a company executive said on Thursday. Petrobras, as the company is known, is looking to sell assets as it battles to survive a combination...

  • SAO PAULO, July 16- Federal prosecutors in Brazil have opened a formal inquiry into whether former President Luiz Inácio Lula da Silva improperly used his connections overseas to benefit Latin America's largest engineering firm, Odebrecht SA, a spokeswoman said on Thursday. The inquiry puts the legacy of one of Brazil's most popular former leaders on the...

  • SAO PAULO, July 16- Federal prosecutors in Brazil have opened a formal inquiry into whether former President Luiz Inácio Lula da Silva improperly used his connections overseas to benefit Latin America's largest engineering firm, Odebrecht SA, a spokeswoman said on Thursday. The investigation comes a month after Brazil- based Odebrecht's chief executive...

  • July 16- Zodiac Aerospace said it is considering moving machinery from a U.S. factory crippled by a powerful explosion on Tuesday so that it can continue making aircraft interior composite panels needed by the booming aviation industry. Airbus did not immediately respond to requests for comment. Boeing and Airbus are churning out more than 100 jetliners a...

  • SAO PAULO, July 16- The auction on Friday of a concession to build and operate an estimated 7 billion reais power transmission line in Brazil is not expected to attract many participants, due to limited financing for Brazilian companies, according to consultants and company officials. "It is a lot of money, and since financing in Brazil these days is really scarce,...

  • SAO PAULO, July 14- Sky-high power prices in Brazil following the worst energy crisis in 15 years will favor quick expansion of distributed solar generation in the country, according to investors and consultants. Brazil's power sector watchdog Aneel is holding public hearings to discuss regulations to expand the system. "Power generation, particularly solar...

  • Police seized luxury cars including a red Ferrari, a black Porsche and a gray Lamborghini from the home of Senator Fernando Collor de Mello, a former president, according to a Reuters witness. Police did not provide the names of those under investigation but confirmed the operations were ordered by Brazil's Supreme Court, which is the only authority that can...

  • SAO PAULO, July 14- Brazil's retail sales fell more than expected in May as faster inflation and a rising jobless rate appeared to deepen a likely recession in Latin America's largest economy. Layoffs have hit Brazil's labor market harder than many expected while inflation has climbed to nearly 9 percent, twice the official target despite a string of interest...

  • Senators Fernando Collor de Mello and Ciro Nogueira are among the names being investigated in the 16th round of the probe, dubbed "Politeia", TV Globo and newspaper O Estado de S. Paulo said. In statements, Brazil's federal police and prosecutors did not confirm the names under investigation but said the operations were ordered by the Supreme Court, Brazil's...

  • CARACAS, July 13- American Airlines said on Monday it would restart its Caracas- New York route as of Dec. 17, though it added that it had not repatriated more than half a billion dollars in revenue trapped in Venezuela as a result of currency controls. American Airlines, which slashed almost 80 percent of its weekly flights to Venezuela last year over the dispute,...

  • NEW YORK, July 10- A U.S. judge has rejected Brazilian state-run oil producer Petrobras' effort to dismiss a lawsuit claiming that years of corruption, including bribery, caused more than $98 billion of its stock and bonds to be overvalued. Shareholders led by England's Universities Superannuation Scheme Ltd alleged that Petrobras, whose formal name is...

  • SANTA CRUZ, Bolivia, July 9- Bolivian President Evo Morales said on Thursday he wanted to restore full diplomatic relations with the United States but doubted this would happen soon, even after the recent rapprochement between Washington and former Cold War enemy Cuba. Relations between the two countries disintegrated in 2008 when the Bolivian leader...

  • BARRANCABERMEJA, Colombia, July 9- The hulking backhoe dredges up rocks and silt from the shallows of the muddy Magdalena River in the first laborious step to transform the waterway into an engine of economic growth. By clearing logjams, the aim is to allow big cargo barges to steam up 900 km from the Caribbean coast to Puerto Salgar, close to the capital Bogota.