Business News Rio de Janeiro

  • SAO PAULO/ RIO DE JANEIRO, July 18- Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States. The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as...

  • SAO PAULO, July 15- Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil's Cosan SA and Spain's Naturgy Energy Group SA, are among the companies potentially...

  • RIO DE JANEIRO, July 4- Police in Rio de Janeiro arrested more than 40 people on Thursday for their alleged roles in a murderous gang that extorted companies working for state-run oil company Petrobras and established a secret cemetery to dispose of rivals. The arrests highlight how South America's third largest city and suburbs have struggled with the...

  • RIO DE JANEIRO, June 14- Brazil's economy minister and lower house speaker exchanged harsh words on Friday over progress on pension reform, creating another drag on Brazilian financial assets already feeling the heat from global market weakness. Rodrigo Maia, speaker of the lower house of Congress, hit back at the criticism, saying the collective will had...

  • RIO DE JANEIRO, June 13- Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28. The preliminary rules will be in public consultation until July 3, according to ANP. A public hearing is expected to take place in Rio de Janeiro on July 5.

  • RIO DE JANEIRO, June 13- Brazil's Petrobras found suspicious activity in its oil trading business- and failed to stop it- six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters. A 2012 internal probe at the state-run oil company turned up more than two dozen...

  • RIO DE JANEIRO/ BUENOS AIRES, June 5- Brazil and Argentina have started discussing a reduction in the common external tariff of the South American trade bloc Mercosur, sources in both governments told Reuters on Wednesday, as their market-friendly presidents look to boost economic growth. Mercosur, a common market formed by Argentina, Brazil, Paraguay and...

  • EXCLUSIVE-HOST HOTELS PLANS TO SELL 3 PROPERTIES IN RIO DE JANEIRO, WHERE OCCUPANCY RATES PLUNGED AFTER OLYMPICS- SOURCES.

  • RIO DE JANEIRO, May 28- Brazil's Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt. Petrobras, as the company is known, has set a June 5 deadline to receive final binding offers for its Pampo and Enchova oilfields off the coast of Rio de Janeiro, said two...

  • BRASILIA, May 21- Brazil's lower house of Congress voted on Tuesday to allow foreign-controlled airlines to operate domestic flights in Latin America's largest economy, opening the door to more competition in an increasingly concentrated market. Brazil's No. 4 airline, Avianca Brasil, has lost market share in recent weeks as it gave up all but six of its planes...

  • BRASILIA, May 20- Brazil's President Jair Bolsonaro on Monday emphasized the importance of pension reform to Brazil's economic progress, but a powerful lawmaker said the president's failure to engage with Congress means the bill is still well short of the votes needed for it to pass. But Ramos said Bolsonaro had not bothered to build support in Congress and his...

  • RIO DE JANEIRO, May 17- Brazil's lower house will vote on the government's pension reform bill no later than the start of July, lower house speaker Rodrigo Maia said on Friday. Speaking in Rio de Janeiro alongside Economy Minister Paulo Guedes, Maia said he was certain the chamber and the Senate would approve pension reform, the government's cornerstone policy to...

  • FBI is investigating corporate giants Johnson& Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters. The four multinational companies, with a combined market capitalization of nearly $600 billion at Thursday's...

  • SAO PAULO, May 13- Brazilian airline Azul SA on Monday made a new attempt to purchase some of bankrupt airline Avianca Brasil's most coveted routes, offering $145 million and reversing a decision not to participate. Azul had been interested in Avianca Brasil's slots because it would allow the carrier to break into the profitable route between domestic...

  • SAO PAULO, May 13- Brazilian airline Azul SA on Monday made a new attempt to purchase some of bankrupt airline Avianca Brasil's most coveted routes, offering $145 million and reversing a decision not to participate. Azul had been interested in the slots because it would allow the carrier to break into the profitable route between domestic airports in Sao Paulo...

  • RIO DE JANEIRO/ SANTIAGO, May 10- Brazilian miner Vale SA expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output. "We're not in a hurry," Chief Financial Officer Luciano Siani told analysts on a conference call.

  • RIO DE JANEIRO/ BRASILIA, May 9- Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector. Roberto Castello Branco, the chief executive of Petrobras, has said it is...

  • SAO PAULO, May 9- Brazilian airline Azul SA's chief executive said on Thursday that its two larger competitors had barred the carrier from providing a competing air shuttle service on the highly profitable Sao Paulo to Rio de Janeiro route. Azul, Brazil's No. 3 airline, initially reached a deal with Avianca Brasil but a few weeks later Gol and LATAM reached a...

  • SAO PAULO, May 9- Brazilian police launched an operation on Thursday to arrest 17 people suspected of involvement in a scheme to launder money and siphon off funds at state-controlled Banco do Brasil SA, authorities said. The investigation targeted employees of Banco do Brasil and businessmen linked to firms set up to collect debt in arrears on behalf of the...

  • SAO PAULO, May 8- Shares in Brazilian gunmaker Taurus Armas SA surged on Wednesday, the day after President Jair Bolsonaro signed a decree to ease restrictions on gun imports and increase the amount of ammunition a person can buy. Taurus stock surged 21 percent to 4.5 reais. Taurus has a factory in Miami and may benefit from imports too.