Brazil’s Temer says economy turning around, confidence rising

BRASILIA – The Brazilian economy has begun to turn around, jobs are being created, and business confidence is slowly recovering, President Michel Temer said on Friday, touting initial successes of his recovery plan. Speaking at a business meeting in Sao Paulo, Temer pointed to the latest cover of The Economist showing Brazil beginning to lift off among seven countries on the rise, and also Moody’s decision on Wednesday to raise the rating outlook for Brazilian…

"Brazil’s Temer says economy turning around, confidence rising"

Brazil expects to return to GDP growth in 2017: finance minister

FRANKFURT – Brazil’s government expects the country to return to economic growth this year, ending the nation’s longest and deepest downturn on record, Finance Minister Henrique Meirelles said on Thursday. “We will announce (a GDP forecast) next week. What we can say (is) it’s positive growth,” Meirelles said on the sidelines of a banking conference in Frankfurt. “The first quarter will be a positive number,” he said, adding that Brazil would also return to growth…

"Brazil expects to return to GDP growth in 2017: finance minister"

Brazil workers protest pension reform, disrupt transport

SAO PAULO – Brazilian civil servants, rural workers and labor unions staged nationwide demonstrations on Wednesday against President Michel Temer’s pension reform plan, with hundreds of protesters occupying the finance ministry in the capital Brasilia. Bus and subway services were partially disrupted in São Paulo, the country’s biggest city, where small street demonstrations around the city snarled drivers in traffic. “The traffic stopped everything. It was chaos,” said Claudio Rogerio Santos, a taxi driver in…

"Brazil workers protest pension reform, disrupt transport"

Brazil Senate committed to reforms despite graft probe: lawmaker

SAO PAULO – The president of Brazil’s Senate, Eunicio Oliveira, said on Wednesday that the chamber was committed to the government’s reform agenda when asked by journalists if an expanded political corruption probe would affect legislation. Brazil’s top public prosecutor asked the Supreme Court on Tuesday to open 83 new investigations into senior politicians reportedly including five cabinet ministers and leading lawmakers of the two main parties in the governing coalition, including Oliveira.

"Brazil Senate committed to reforms despite graft probe: lawmaker"

Exclusive: Brazil prosecutor sees 350 new graft probes after Odebrecht testimony

CURITIBA, Brazil – A top Brazilian prosecutor said more than 350 new investigations will spring from a trove of testimony by executives of construction firm Odebrecht, revealing how corruption cut across the political spectrum from the smallest cities to the highest levels of government. Carlos Lima, the dean of a team of prosecutors in southern Brazil that is driving the three-year old “Car Wash” investigation, said the Odebrecht statements expanded the probe far beyond expectations…

"Exclusive: Brazil prosecutor sees 350 new graft probes after Odebrecht testimony"

Brazil prosecutor aims graft probe at dozens of politicians

BRASILIA – Brazil’s top public prosecutor asked the Supreme Court to open 83 new investigations into senior politicians on Tuesday, reportedly including five ministers and leading lawmakers, in a dramatic escalation of a graft probe threatening the government. Prosecutor General Rodrigo Janot also requested that the Court send 211 other requests to lower courts based on much-anticipated testimony by dozens of executives of engineering group Odebrecht SA [ODBES.UL] in Brazil’s biggest-ever corruption scandal. Brazilian newspapers…

"Brazil prosecutor aims graft probe at dozens of politicians"

Surprise drop in Brazil inflation paves way for sharper rate cut

BRASILIA – Brazil’s inflation rate eased much more than expected in February to its lowest level since 2010 amid a deep recession, data showed on Friday, strengthening the case for a steeper interest rate cut by the central bank next month. Consumer prices rose 4.76 percent in the 12 months through February, according to government statistics agency IBGE’s IPCA index, slowing from an increase of 5.35 percent in January. February’s inflation came in below expectations…

"Surprise drop in Brazil inflation paves way for sharper rate cut"

Brazil annual inflation likely fell below 5 percent in February: Reuters poll

BRASILIA – Brazil’s annual inflation rate probably fell in February to its lowest level since 2010, easing below 5 percent to approach the government target, a poll showed on Wednesday. The survey’s median forecast was for consumer prices to have risen 4.88 percent in the 12 months through February, slowing from a 5.35 percent increase in January. Brazil targets annual inflation at 4.5 percent, less than half of what it was running at until a…

"Brazil annual inflation likely fell below 5 percent in February: Reuters poll"

Head of Brazil electoral court sees Temer surviving election case

BRASILIA – The head of Brazil’s top electoral authority said on Wednesday that President Michel Temer would not necessarily lose power if his 2014 election was annulled on charges of illegal campaign financing because he was not the head of the ticket. A federal judge is expected to recommend the annulment in the coming months following testimony from executives of engineering group Odebrecht alleging 300 million reais ($95 million) in illicit donations to the campaign,…

"Head of Brazil electoral court sees Temer surviving election case"

Brazil’s Temer launches 45 billion reais infrastructure concession plan

BRASILIA – Brazil’s President Michel Temer launched an infrastructure concessions program on Tuesday that he said should raise 45 billion reais ($14.43 billion) in investment in building and operating roads, port terminals, railways and power transmission lines. Temer said the program was key to restoring an attractive business environment as Brazil struggles to emerge from its worst-ever recession. “There will be 45 billion reais in new investment in the energy, transport and sanitation sectors which…

"Brazil’s Temer launches 45 billion reais infrastructure concession plan"