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17 of the Biggest Drug Busts in US History Are Worth Billions

QUITO, ECUADOR:  Marijuana packages are displayed by Bolivian police 28 November 2000 in Quito confiscated during Operation Galaxy. Un policia antinarcotico vigila paquetes de marihuana que fueron incautados en una accion denominada "Operativo Galaxia" donde se desarticulo una poderosa banda internacional de narcotraficantes, en Quito 28 de Noviembre de 2000. La policia incauto aproximadamente 5.450 Kg de marihuana que transitaba en un camion en la ciudad de Quito, la cual tenia como destino final el puerto de Liverpool en Inglaterra. AFP PHOTO/MARTIN BERNETTI (Photo credit should read MARTIN BERNETTI/AFP/Getty Images)

From Wall Street to the underworld, if there’s one thing we’ve learned it’s that crime pays and pays big. Drug trafficking is probably the most lucrative illegal money maker, which the richest drug dealers of all time can attest to. Kingpins can make billions when their drugs hit the street, but the authorities do their best to prevent that from ... Read More »

Brazil space station open for small satellite business

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ALCANTARA SPACE CENTER, Brazil: Brazil is ready to launch small commercial rockets from its space base near the equator as soon as it agrees to safeguard US technology that is dominant in the industry, the Brazilian Air Force officer managing the space program said. Brig. Major Luiz Fernando Aguiar said Brazil wants to get a piece of the $300 billion-a-year ... Read More »

Liquid cocaine from Brazil being smuggled in Delhi via condoms

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International smugglers are now trying to crack the Capitals drug market with liquid cocaine. And they are using condoms to ensure extra protection for the illicit cargo. Sources told Mail Today on Wednesday that South American drug cartels have roped in African syndicates to pump liquid cocaine into the bloodstream of Delhis party circuit. The Narcotics Control Bureau (NCB) has ... Read More »

Brazilian woman arrested from New Delhi airport for smuggling cocaine worth Rs 6 crore by swallowing 106 capsules

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A 25-year-old Brazilian woman has been arrested by the Narcotics Control Bureau (NCB) from the Indira Gandhi International (IGI) airport in New Delhi for allegedly smuggling cocaine in 106 self-swallowed capsules, officials said on Sunday. The woman was apprehended by the NCB sleuths upon her arrival from Sao Paulo in Brazil, based on an intelligence input. She was subsequently taken ... Read More »

Mercadona, Brazilian business boost Jealsa’s 2017 sales

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Tuna sales to Spanish retailer Mercadona and business in Brazil and Italy boosted Spanish canned tuna producer Corporacion Empresarial Jealsa’s turnover last year, which jumped 16% in 2017 to over €630 million, the company said. The canned fish division was the “fundamental pillar” for the increase in sales, despite challenges due to the rise in raw material prices, Jealsa said. ... Read More »

Brazil Business Aviation Looking Confidently to Future

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Although the annual Brazilian LABACE show is relatively small, it is celebrating its 16th year (although it’s the 15th show as one was skipped), and a dedicated group of exhibitors and attendees once again filled the exhibit hall and static display ramp. Aircraft manufacturers and local service providers remain optimistic about the business aviation market in Brazil, although most are ... Read More »

Brazil-China joint ventures could boost soymeal trade: China diplomat

Qu Yuhui, Minister-Counselor at the Chinese embassy in Brazil, poses for a picture after an interview with Reuters in Brasilia, Brazil August 10, 2018.  REUTERS/Adriano Machado

BRASILIA: Chinese and Brazilian companies could form soy-processing joint ventures as a way for Latin America’s largest economy to export more processed soymeal to its top buyer of raw soybeans, a senior Chinese diplomat in Brazil said in an interview. Chinese firms overwhelmingly process soybeans in domestic plants rather than buying soymeal directly from Brazil, but companies will choose whatever ... Read More »

Latin America’s biggest port just made its largest cocaine seizure ever — the latest bust in a thriving drug-trafficking corridor

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Federal officials in Brazil intercepted a shipment of 2,052 kilos of cocaine on Friday at the port of Santos in the country’s southeast, near São Paulo. It was the biggest bust ever made at the port, according to Brazil’s Federal Revenue service. Brazilian Revenue officials found the drugs at a container terminal at a wharf in Guaruja. During a survey ... Read More »

Brazilian couple nabbed smuggling drugs into Israel

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A Brazilian couple were arrested recently, after they attempted to smuggle controlled substances into Israel. The two suspects – both Brazilian nationals in their 40s – arrived in Israel at Ben Gurion International Airport. While passing through customs, the two aroused the suspicion of airport security officials, who detained the couple for further questioning, a police spokesperson said Monday. During ... Read More »

Brazil says China to evaluate trade barriers on sugar, poultry

FILE PHOTO: Brazil's President Michel Temer, South Africa's President Cyril Ramaphosa and China's President Xi Jinping attend the BRICS summit meeting in Johannesburg, South Africa, July 27, 2018. REUTERS/Mike Hutchings

SAO PAULO: China’s President Xi Jinping has told his Brazilian counterpart Michel Temer that the country will evaluate trade barriers the Asian nation imposed on Brazilian raw sugar and poultry imports, Temer said. The Brazilian and the Chinese presidents met last week during the BRICS summit in South Africa. Temer said during a meeting at Sao Paulo’s industry federation Fiesp ... Read More »

Is Hezbollah smuggling weapons to Brazil?

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Hezbollah is being investigated in Brazil for the illegal trade of firearms, Brazil’s influential O Globo newspaper reported. According to the report in the Rio de Janeiro-based paper, Federal investigators in Brazil have been probing possible ties between Lebanon and criminal gangs in Brazil for the past eight years. Hezbollah-linked groups allegedly began smuggling arms into Brazil back in 2006, ... Read More »

Brazil court says arbitration to decide Itambé deal with Lactalis

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SAO PAULO: A Brazilian appeals court confirmed that only private arbitration may decide whether France’s Groupe Lactalis SA may proceed with the acquisition of dairy company Itambé Alimentos SA, according to court documents seen by Reuters. An arbitration at the Brazil-Canada Chamber of Commerce will decide if the acquisition broke a former shareholders agreement in Itambé. The Brazilian dairy company ... Read More »

Brazil maintains key interest rate at 6.5%

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Brazil’s central bank maintained its key interest rate at 6.5 per cent Wednesday, as expected, with inflation considered to be under control despite strong depreciation of the real and a costly truckers’ strike. The bank said the truckers’ strike, which shut down much of the economy for more than a week in May, “made it difficult to read the current ... Read More »

Brazil overhauls decades-old mining law to lure investment

Brazil's President Michel Temer reacts after issuing two decrees overhauling 50-year-old mining laws in attempt to draw investment to the sector and implementing rules on the collection of higher mining royalties, at Planalto Palace in Brasilia, Brazil June 12, 2018. REUTERS/Adriano Machado

BRASILIA: Brazil’s President Michel Temer issued two decrees overhauling 50-year-old mining laws in attempt to draw investment to the sector and implementing rules on the collection of higher mining royalties. The changes to the 1967 mining code include measures to allow for mining titles to be used as guarantees for financing, aimed at stimulating investment in sector and to allow ... Read More »

Chevron names Brazil chief to lead Venezuela operations after arrests

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RIO DE JANEIRO/HOUSTON: US oil producer Chevron Corp (CVX.N) has permanently assigned its Brazil country chief to run its Venezuelan operations after the months-long detention of two executives escalated tensions between the OPEC-member nation and foreign oil firms. Javier La Rosa, who had been president of Chevron Brazil since 2016, this month was named president of Chevron Venezuela, the company ... Read More »

Brazil shippers concerned about higher post-strike truck rates

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Slowly, Brazil is recovering from the truckers strike and will likely continue to a gradual recovery, given the damage the 10-day strike inflicted on shippers, ports, and businesses — damage that brought the country’s trade transport to a standstill, basically. Although several experts have forecast that container operations could return to normal “within another 10 to 15 days,” neither Brazil ... Read More »

Billion Dollar Losses in Brazil Due to Truckers’ Strike

Greve de caminhoneiros causa desabastecimento na Ceasa, na zona norte do Rio de Janeiro.

RIO DE JANEIRO, BRAZIL – As Brazil tries to get back to normal after nine days of protests by truck drivers, retailers, farmers and exporters now sit down to calculate the economic damages caused by demonstrators. The roadblocks that paralyzed the flow of production across Brazil since last week have caused estimated losses of at least R$34 billion to the ... Read More »

Free market vs subsidies at heart of Brazil truckers’ strike

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RIO DE JANEIRO (AP) — Brazilian cabinet ministers called on truckers to end a crippling eight-day strike that has led to major shortages and disruptions in Latin America’s largest nation, saying the government had gone as far as it could to meet their demands. The ministers spoke in Brasilia hours after President Michel Temer announced a series of measures aimed ... Read More »

Brazil to Maintain Benchmark Interest Rate at 6.5 Percent

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RIO DE JANEIRO, BRAZIL – Despite the continuing low inflation rate, the recent strong devaluation of the Brazilian currency and decreasing economic activity, Brazil’s Monetary Policy Committee (COPOM) surprised the market and announced on Wednesday it was maintaining the country’s benchmark interest rate (SELIC) at 6.5 percent per year. “Taking into account the baseline scenario, the balance of risks, and ... Read More »

Brazil truckers pledge more fuel protests despite tax proposal

Brazilian truck drivers block the BR-116 highway with their trucks during a strike in Curitiba, Brazil May 21, 2018.   REUTERS/Rodolfo Buhrer

SAO PAULO: Brazilian truck drivers vowed to extend their protest against high fuel prices into a third day despite a government compromise to cut a fuel tax, threatening to slow economic activity and interrupt exports of grains and other goods. Thousands of trucks were parked to obstruct major roads as the protests interrupted traffic along a major soy shipping route ... Read More »