Journalist, Washington D.C.
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May 19, 2015

China’s Li brings investment boost to struggling Brazil

BRASILIA, May 19 (Reuters) – Chinese Premier Li Keqiang came
to the rescue of Brazil’s slumping economy on Tuesday with
trade, finance and investment deals worth tens of billions of
dollars in energy, mining, aviation and the upgrade of
dilapidated infrastructure.

On his first official trip to Latin America, Li saw a raft
of agreements signed, ranging from a $1 billion purchase of
passenger jets made by Brazil’s Embraer to the lifting of an
import ban on Brazilian beef and a long-discussed plan to build
a railroad over the Andes to the Pacific.

May 19, 2015

China’s Li brings investment pledge to struggling Brazil

BRASILIA (Reuters) – Chinese Premier Li Keqiang will push trade, finance and investment deals worth tens of billion of dollars on Tuesday to help Brazil upgrade its dilapidated infrastructure and boost a slumping economy.

On his first official trip to Latin America, Li will meet President Dilma Rousseff and attend the signing of a raft of agreements ranging from a $1 billion purchase of passenger jets made by Brazil’s Embraer to the lifting of an import ban on Brazilian beef and a long-discussed plan to build a railway over the Andes to the Pacific.

May 15, 2015

Rousseff’s main ally eyes Brazil’s presidency in 2018

BRASILIA (Reuters) – For the last 20 years, Brazil’s largest political party has not once fielded a presidential candidate, instead content to partner with the eventual winner to retain a share of power. No longer, it appears.

The Brazil Democratic Movement Party (PMDB), which for many Brazilians epitomizes a self-serving political class living off pork barrel, is now pushing its own legislative agenda as it gears up to make a run for the presidency in 2018.

Apr 27, 2015

Brazil’s philosopher minister prescribes technology shock

BRASILIA (Reuters) – Brazil’s government plans over time to remove tariffs on high-end capital goods in a bid to boost productivity and breathe life into its flailing economy, an adviser to President Dilma Rousseff told Reuters.

Strategic Affairs Minister Roberto Mangabeira Unger, a Harvard philosophy professor tasked by Rousseff with laying out a new development path for Brazil, said new tools are needed to evolve from an economy based on commodity exports to a manufacturing nation with a skilled and well-paid workforce.

Apr 23, 2015

Shell’s Brazil strategy factors in Petrobras scandal -CEO

BRASILIA, April 23 (Reuters) – Royal Dutch Shell Plc
has taken into account the risks presented by the
Petrobras graft scandal to its expanding operations in Brazil
and is confident the Brazilian state-run oil company will emerge
stronger, Shell’s CEO said on Thursday.

Chief Executive Ben van Beurden said oil production from
Brazil’s offshore subsalt region will remain profitable, and
predicted that oil prices will rise from the low levels of the
past six months.

Apr 10, 2015

More austere, accommodating Rousseff paying off for Brazil

BRASILIA (Reuters) – The “new Dilma” is starting to produce results.

By embracing power-sharing deals and budget cuts that she shunned during her first term in office, President Dilma Rousseff has begun to ease the economic and political crisis plaguing Brazil, congressional leaders and economists say.

Rousseff’s decision this week to hand formal responsibility for negotiating with Congress to Vice President Michel Temer, a leader of the Brazilian Democratic Movement Party (PMDB), was a milestone that should help ease tensions with the biggest party in her coalition and dissuade it from sabotaging her economic agenda as it did earlier this year, legislators said.

Apr 9, 2015

Brazil’s Rousseff says Petrobras has cleaned up corruption

BRASILIA, April 9 (Reuters) – State-run oil company
Petrobras has purged corrupt managers and put a graft scandal
behind it, while hitting record output levels from off-shore
deposits, Brazil’s President Dilma Rousseff said on Thursday.

The indictment of former senior executives of Petroleo
Brasileiro SA and the investigation of dozens of
political allies of Rousseff in the multibillion-dollar kickback
scandal has thrown her government into crisis and undermined
investor confidence in Brazil.

Mar 26, 2015

Brazil uncovers multibillion-dollar tax fraud at Finance Ministry

BRASILIA, March 26 (Reuters) – Brazilian authorities on
Thursday said they uncovered a tax fraud scheme at the Finance
Ministry’s tax appeals board that may have cost taxpayers up to
19 billion reais ($5.96 billion).

The news came in the midst of a multibillion-dollar
corruption scandal at state oil company Petroleo Brasileiro SA,
or Petrobras, that has rattled Brazil’s political
establishment and weighed on the fragile economy.

Mar 25, 2015

Brazil says no ‘grand bargain’ with builders in Petrobras scandal

BRASILIA (Reuters) – President Dilma Rousseff’s government denied on Wednesday that it is looking to strike a “grand bargain” with Brazilian construction and engineering firms implicated in the kickback scandal at state-run oil company Petrobras.

With Brazil facing recession, the government is keen to limit economic fallout by reaching leniency deals with some of the 24 companies under investigation that have halted projects and laid off workers after Petrobras stopped paying them.

Mar 23, 2015

Poll shows most Brazilians favor Rousseff’s impeachment

BRASILIA (Reuters) – A majority of Brazilians favor impeaching President Dilma Rousseff due to an economic slump and a snowballing corruption scandal at state-run oil company Petrobras, according to a poll released on Monday.

The survey by polling firm MDA showed that 59.7 percent of respondents favor Rousseff’s impeachment, and 68.9 percent believe she is responsible for the corruption involving a massive kickback scheme at Petroleo Brasileiro SA, as the oil giant is formally known.