Brazil - Brazzil Mag - Brazil's Corruption Probe Scares Investors
Advertisement
  Home Friday, 27 November 2009 
Main Menu
Home
News
Back Issues
Advertising
Contact Us
Brazil Forum
Magazine
Brazzil Classic
Yellow Pages
Classifieds
Images
BrazzilMag Newsfeed
Custom Search
Amazon Body Care
-------------
Brazil /Organic personal skin care wholesale / Brazil
--------------
Who's Online
We have 159 guests online
Latest News
Statistics
Members: 494
News: 11474
Web Links: 0
User Menu
Your Details
Submit News
Check-In My Items
My Comments
Login Form





Lost Password?
No account yet? Register
Most Read
Related Items
Contribution
Have you got news?

Do you have news, comment or story on Brazil you want to share with Brazzil? Just send it our way to brazzil@brazzil.com.

 
The Latest from Brazzil Magazine
Home
Brazil's Corruption Probe Scares Investors PDF Print E-mail
Written by Linda Shea   
Wednesday, 25 May 2005

Latin American markets were once again mixed, only this time the tables were turned and Brazil posted declines, while Mexico advanced. Meanwhile, Argentina's market was closed to mark a national holiday.

Brazil followed U.S. markets lower, and was pressured by domestic political concerns. Also, a rebound in oil prices, which once again neared US$ 51 a barrel, is not a plus for the net crude importer. Mexican stocks rose on a light news day.

Brazil's benchmark Bovespa Index receded 66.82 points, or 0.27%, while Mexico's benchmark Bolsa Index advanced 37.12 points, or 0.29%.

Brazilian issues returned some of the gains earned in yesterday's session, amid some mixed economic reports. Political tensions also added to local market volatility.

Congress opened an inquiry today investigating allegations of corruption at state-run firms by government allies. The government has until midnight tonight to stop the investigation by convincing lawmakers to remove their signatures from a petition necessary for the probe to continue.

On the economic front, the Brazilian Census Bureau, or IBGE, said that inflation advanced 0.83% in the April 14 to May 13 period, above the 0.74% rise logged in the March 15 to April 13 period.

The IBGE said the increase was caused by higher prices of government-controlled medical drugs and an increase in electric energy rates. For the year ended May 13, the rate totaled 8.19%.

Separately, São Paulo's Fipe research institute reported that the consumer price index in Brazil's largest city advanced 0.50% in the four weeks ended May 23, easing from the 0.58% rise tallied for the four weeks ended May 15.

Also, the IBGE reported that the official jobless rate remained flat at 10.8% in April, ending three consecutive months of advances. The figure arrived at the lower end of analyst estimates and is well below the 13.1% rate logged in April 2004.

Turning to corporate news, Brazil's Mines and Energy Minister Dilma Rousseff announced that the government may lose state-run oil firm Petrobras SA's assets in Bolivia due to the heightening crisis in that country. 

Last week, Bolivia signed a new law that raised the combined royalty and tax rate on oil and gas production to 50% from approximately 38%.

Mexican stocks once again headed into the black, following a slight decline yesterday. Trading may be tentative ahead of this Friday's Bank of Mexico meeting in which it will decide on domestic interest rate levels.

Economists anticipate the central bank will keep rates steady for the second-straight month. In corporate action, Telmex L shares moved higher, as investors continue to cheer the firm's announcement on Monday that it would split its shares.

Elsewhere, Venezuela's finance minister announced last night that Venezuela intends to buy an additional US$400 million in Argentine bonds before the end of the year.

Thomson Financial Corporate Group - www.thomsonfinancial.com

PRNewswire

Hits: 8652
Comments (0)Add Comment

Write comment
quote
bold
italicize
underline
strike
url
image
quote
quote
smile
wink
laugh
grin
angry
sad
shocked
cool
tongue
kiss
cry
smaller | bigger

security code
Write the displayed characters


busy




Reddit!Del.icio.us!Facebook!Slashdot!Netscape!Technorati!StumbleUpon!Newsvine!Furl!Yahoo!Ma.gnolia!Add this social bookmarking functionality to your website! title=
 
< Prev   Next >
Brazzil Magazine on Twitter


Visit Brazzil Social with Video, Music and Chat


Home
Brazzil Magazine - Since 1989 trying to understand Brazil
  • Poor Women from Northeast Brazil Learn Joy of Meeting and Helping Each Other


    Joined hands The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area.

  • Ahmadinejad's Visit: Iran, Honduras and Brazil's Hypocrisy in Dealing With Them


    Ahmadinejad and Lula The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy.

  • Lula Is About to Fulfill His Wish of Getting His Good Friend Chavez in Mercosur


    Lula and Chavez On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil.

  • Denying Education is the Other AIDS. And Brazil Is Guilty of Inflicting It


    Children from a Diadema band Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms.

  • Child Labor Went Down in Brazil, But 5 Million Underage Workers Are Still Way Too Many


    Child labor in Brazil One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis.

  • Some Humility Would Do Lula Good. On Human Rights Brazil Has Long Way to Go


    A prison in Rio de Janeiro, Brazil On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking.

  • Brazil's Amazon Rainforest Policy Is a One-Way Road to Disaster


    Trasamazonian road in BrazilDepletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse.

  • Geisy, Brazil's Miniskirt Student, Should Try US College Next Year


    Geisy Arruda from BrazilGeisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.

  • Vigilante Groups in Brazil Trump Drug Gangs and Become Rio's New Authority


    Brazilian favela in Rio The push of vigilante groups in Rio de Janeiro's favelas (shantytowns) in the last three years is the most important and alarming information of the just-released study by the Rio de Janeiro University's Violence Research Center (Nupev-Uerj).

  • Brazil Police Use Press Coverage as Green Light to Kill and Invade Houses in Rio


    Rio police in a favela A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17.  Three policemen died and another two were injured.  This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.