Raymond's Feed
Oct 21, 2011

Brazil’s Rousseff to decide on sports minister

BRASILIA (Reuters) – Brazilian President Dilma Rousseff will decide the fate of her embattled sports minister after meeting with him on Friday to discuss the corruption allegations against him, a government source said.

“She wants to meet with him personally before deciding,” said the source, who was well informed on the matter but not authorized to discuss it publicly.

Oct 18, 2011

Brazil’s sports minister under pressure to quit

BRASILIA, Oct 18 (Reuters) – Brazil’s sports minister came
under growing pressure to resign on Tuesday as more evidence
emerged of wrongdoing at his ministry in a corruption scandal
that raises doubts abpit preparations for the next World Cup.

Orlando Silva is accused of arranging up to 40 million
reais ($23 million) in kickbacks from government contracts to
benefit himself and the Communist Party, which is part of
President Dilma Rousseff’s government.

Oct 17, 2011

Sports minister snared in new Brazil graft scandal

BRASILIA (Reuters)- Brazilian President Dilma Rousseff faces another corruption scandal in her cabinet over accusations the sports minister arranged for millions in kickbacks, raising questions about the country’s credentials to host the World Cup and Olympics.

The accusations, made in the influential weekly magazine Veja over the weekend, are an untimely blow for Rousseff, as her administration appeared to be moving on from scandals that brought down five ministers in recent months.

Oct 3, 2011

Insight: Brazil’s oil future hinges on bill to share wealth

BRASILIA/RIO DE JANEIRO (Reuters) – Brazil’s government is racing to forge a deal in Congress this week that it hopes will prevent a lengthy legal and political battle over its huge offshore oil reserves.

Brazil’s states and cities have been quarreling for years over how to distribute the expected multi-trillion-dollar windfall from one of the world’s biggest recent oil finds. Former President Luiz Inacio Lula da Silva called the so-called “subsalt” fields, discovered in 2007, “a gift from God” that could make Brazil a rich country.

Oct 3, 2011

Brazil’s oil future hinges on bill to share wealth

BRASILIA/RIO DE JANEIRO, Oct 3 (Reuters) – Brazil’s
government is racing to forge a deal in Congress this week that
it hopes will prevent a lengthy legal and political battle over
its huge offshore oil reserves.

Brazil’s states and cities have been quarreling for years
over how to distribute the expected multi-trillion-dollar
windfall from one of the world’s biggest recent oil finds.
Former President Luiz Inacio Lula da Silva called the so-called
“subsalt” fields, discovered in 2007, “a gift from God” that
could make Brazil a rich country.

Oct 3, 2011

Key political risks to watch in Brazil

BRASILIA, Oct 3 (Reuters) – President Dilma Rousseff’s
biggest challenge in coming months will be to deal with growing
discontent over persistent inflation and austerity measures as
the fallout from global financial turmoil hits Latin America’s
largest economy.

Rousseff will have to face rebellious allies wanting more
government spending and a greater say in policies as well as
unions demanding higher wages. Other challenges include rising
inflation, currency volatility, and resistance to long-term
structural reforms.

Sep 30, 2011

Brazil to sell debt despite global crisis

BRASILIA (Reuters) – Brazil plans to tap foreign debt markets before year-end despite the global financial turmoil, the country’s treasury secretary told Reuters.

The worsening global outlook has caught up with Latin America’s largest economy this month, battering Brazil’s equity and currency markets. The central bank also revised its 2011 growth projections downward to 3.5 percent this week.

Sep 23, 2011

Analysis: Brazil’s middle-class economic miracle at risk

BRASILIA (Reuters) – They were the big winners in Brazil’s economic boom: nearly 40 million people who joined the middle class since 2003 and went on a shopping spree, many of them buying televisions, cars or air conditioners for the first time.

Yet there are signs that some of these Brazilians — known here as the “new C Class” — are in danger of sliding back into poverty.

Sep 23, 2011

Brazil’s middle-class economic miracle at risk

BRASILIA (Reuters) – They were the big winners in Brazil’s economic boom: nearly 40 million people who joined the middle class since 2003 and went on a shopping spree, many of them buying televisions, cars or air conditioners for the first time.

Yet there are signs that some of these Brazilians — known here as the “new C Class” — are in danger of sliding back into poverty.

Sep 21, 2011

Brazil congress defeats financial transactions tax

BRASILIA, Sept 21 (Reuters) – Brazil’s lower house of
Congress on Wednesday rejected a government proposal to create
a new tax on financial transactions to pay for healthcare,
raising questions about President Dilma Rousseff’s ability to
maintain her program of fiscal austerity.

The government’s defeat signals growing pressure for the
administration to increase spending on public services without
raising taxes, already among some of the highest in the world.