Business News Rio de Janeiro

  • RIO DE JANEIRO, Sept 13- Brazilian President Jair Bolsonaro telephoned Economy Minister Paulo Guedes from hospital this week to express his opposition to the creation of a new "CPMF" financial transactions tax, Guedes said on Friday. In a wide-ranging interview with foreign journalists in Rio de Janeiro, however, Guedes again defended the idea, saying...

  • RIO DE JANEIRO, Sept 10- Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocs on Tuesday, in what authorities framed as a bid to boost the industry outside of the nation's core, offshore pre-salt play. At an event in downtown Rio de Janeiro, firms ranging from the Brazilian unit of Exxon Mobil Corp to domestic startups paid a...

  • PARIS, Sept 6- French prosecutors appealed on Friday against a decision by magistrates not to prosecute Air France over the 2009 crash of a passenger aircraft flying from Rio de Janeiro to Paris in which all 228 on board died. Prosecutors had recommended that Air France stand trial over the crash but magistrates overruled the prosecutors and dropped the...

  • PARIS, Sept 5- French judges have dropped charges against Air France and Airbus over a mid-Atlantic plane crash in 2009 that killed all 228 people on board, blaming the pilots for losing control of the plane. In their conclusions, seen by Reuters, the judges said the pilots of the Airbus A330 had failed to process all the warnings and instrument readings provided by...

  • SAO PAULO, Sept 3- Burger King will launch a plant-based burger imitating meat called the "Rebel Whopper" in Brazil in November, the company said on Tuesday, amid an international rush for mass-market chains to cater to vegetarian and vegan diners. Burger King will sell the vegetarian burgers developed by meatpacker Marfrig Global Foods SA for 29.90 reais in...

  • BRASILIA/ SAO PAULO, Aug 23- Brazil's federal police on Friday raided the headquarters of Latin America's largest independent investment bank, Banco BTG Pactual SA, and the addresses of its founder Andre Esteves, federal prosecutors said in a statement. BTG Pactual confirmed in a securities filing its headquarters in Sao Paulo and Rio de Janeiro were raided by...

  • whistleblower who warned of graft@ SAO PAULO, August 21- Healthcare giant Philips was warned of suspicious sales of its medical equipment to the Brazilian government, and failed to halt them, nearly a decade before an alleged bribery racket was exposed in the company's Brazil operations last year, Reuters has learned. Claims of malfeasance reached the highest...

  • RIO DE JANEIRO/ SAO PAULO, Aug 1- Brazil's Vale SA is expecting its results to improve in the third quarter after the company surprised analysts by posting a quarterly loss because of writedowns related to a deadly dam burst in January, its chief financial officer said on Thursday. "We hope the second quarter was transitional and that we're going to have quite a...

  • 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...