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25 Brazilian Judges and Prosecutors Consider Lula’s Acts to Be Crimes

PORTO ALEGRE, RS, 16.03.2018: OPERAÇÃO-LAVA JATO - A procuradora-geral da República, Raquel Dodge, participa na manhã desta sexta-feira (16) de reunião de trabalho da Operação Lava Jato, que ocorrerá na Procuradoria Regional da República da 4ª Região, no bairro Praia de Belas, em Porto Alegre. (Foto: Donaldo Hadlich/FramePhoto/Folhapress)

After the new charges filed on Monday (30) by General Prosecutor of Brazil, Raquel Dodge, 25 members of the Judiciary Branch and the Federal Prosecution Office consider some of the acts of former Brazilian president Luiz Inácio Lula da Silva, during or after his term in office, to be crimes. Now facing nine charges, in addition to that which resulted ... Read More »

Brazilian beef exports to Mena up 38pc


BRASILIA: Beef exports from Brazil to Arab countries saw a 38 per cent increase in terms of value and a 59 per cent increase in volume during the first quarter of the year (Q1), said the Arab Brazilian Chamber of Commerce (ABCC). Over the same period, Brazil sold over $190 million worth of beef to the Arab region–demonstrating an even ... Read More »

Norsk hydro profits jump despite Brazil scandal


BRASILIA: The company’s net profit jumped 19 percent for the first quarter to nearly 2.1 billion Norwegian kroner ($265 million, 217 million euros), as sales surged 75 percent year-on-year to nearly 40 billion kroner. Operating profits, or earnings before interest and taxes,  rose 38 percent year-on-year to 3.15 billion kroner, but shrank 11 percent from the last quarter of 2017. ... Read More »

Brazil responds after EU ban on poultry imports


BRASILIA: Urging Europe to reconsider the ban, Brazilian Minister of Agriculture Blairo Maggi said, “They are taking advantage of taking us out of the market due to sanitary concerns, which are unfounded,” reports Global Meat News. According to Food Navigator, the vote, taken last thursday, was unanimously in favour of the ban on imports from 20 of Brazil’s processing companies owing to flaws ... Read More »

Brazil steelmaker Usiminas net income jumps on economic rebound


BRASILIA: Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA reported net income of 157 million reais ($46.4 million) in the first quarter, a 45 percent rise from a year earlier, amid an economic rebound that boosted net revenue, it said on Friday. The steelmaker, known as Usiminas, said adjusted earnings before interest, tax, depreciation and amortization (EBITDA), a gauge of ... Read More »

20 Brazilian meat export plants banned by EU


BRASILIA: Twenty Brazilian meat plants have been delisted by the EU following on from detected flaws in Brazil’s official control system. The 20 plants currently export meat and meat products, mainly poultry, to the EU. Delisting the 20 plants will see their authorisation to export to the EU removed. Once the measure to delist the plants is published in the ... Read More »

Afghan aid encouraged corruption harmed local businesses


Some of the findings of the report, Private Sector Development and Economic Growth: Lessons from the U.S. experience in Afghanistan: Afghan private sector development efforts didn’t reflect the reality of the country’s economic and security environment, the capacity of its institutions, its relations with its neighbors, or the impact of corruption. Optimistic projections for the pace and level of progress ... Read More »

Brazil to increase capacity to help Venezuelan migrants


 BRASILIA: Brazil is increasing its capacity to help migrants crossing the border from Venezuela to escape the economic and political crisis affecting their country. The Social Development Ministry said Wednesday it is building 11 shelters in the northern state of Roraima where migrants will receive temporary housing, medical treatment and meals. The shelters will accommodate 500 people each and are ... Read More »

Brazil Feb economy activity underwhelms as recovery stumbles


BRASILIA:  Economic activity in Brazil barely expanded in February after contracting the month before, central bank data showed on Monday, suggesting the recovery hit a bump in the first months of the year. The central bank’s economic activity index rose 0.09 percent from the month before, less than the 0.15 percent median estimate in a Reuters survey of economists. The ... Read More »

Brazil vessel lineup for sugar 60 pct below same period last year


BRASILIA: The lineup of vessels to load sugar in Brazil currently is around 60 percent smaller than seen in the same period a year earlier because of lower output and tepid foreign demand, midway through the first month of the country’s new cane crop. Ten vessels were at Brazilian ports in the first week of April to load 393,500 tonnes ... Read More »

Brazilian trade delegation to visit Egypt next week


BRASILIA:  Brazilian trade delegation will arrive in Cairo next week to discuss ways of boosting commercial relations between Egypt and Brazil, Head of the Cairo Chamber of Commerce (CC) Ibrahim al-Araby said on Tuesday. He said that the delegation will include representatives of different fields, adding that bilateral meetings between the representatives and their Egyptian counterparts will be held to ... Read More »

Strong numbers for OZ’s potential Brazil gold mine


BRASILIA: The open pit project is estimated to have an initial capex cost of about US$108 million and payback of less than two years, with a pre-tax IRR of 73% and NPV of $231.6 million. OZ is in the process of taking over CentroGold’s owner Avanco for A$444 million in cash and shares. CentroGold was assessed by Avanco as a ... Read More »

Brazil soybeans rebound futures dip on fresh US tariff threat


BRASILIA: Premiums for soybeans over futures rocketed again late Thursday after the close as US President Donald Trump ramped up the rhetoric and proposed $100-billion of additional tariffs on Chinese goods. After ending Thursday offered at 155 cents over May futures and bid at 150 cents, May tonnes loading out of Paranagua surged back towards the 200-cent level in the ... Read More »

Brazil premiums rocket 70 cents on China soybean tax threat


BRASILIA: Premiums for Brazilian soybeans over futures contracts spiked at least 70 cents on Wednesday on the expectation of greater demand from China after the world’s biggest bean buyer said it would tax US imports of soybeans. Soybean front-month futures on the Chicago Board of Trade fell around 40 cents on the day to about $10/bu at time of press ... Read More »

Brazil federal tax auditors call two day strike


BRASILIA:  Brazilian federal tax auditors will start a two-day strike on Tuesday to demand payment of a salary bonus, their union Sindireceita said, a stoppage that could further reduce income tax revenue. Some 7,000 workers will strike, affecting a wide range of services to taxpayers and oversight at customs posts at Brazilian ports and airports, the union said in a ... Read More »

Brazil forum to focus on expanding trade ties with Arab states


BRASILIA: Arab-Brazilian Chamber of Commerce (ABCC) will host a forum tomorrow (April 2) in an effort to expand the trade relations between Brazil and its fourth largest export destination abroad, the Arab world. The one-day economic forum will be held under the theme ‘Building the Future’, in partnership with the Union of Arab Chambers and the League of Arab States, ... Read More »

Brazil’s pulp production grew 10.2% in January


BRASILIAS: Brazil’s pulp production grew 10.2% in January 2018 compared to the same month last year. This represents a total of 1.83 billion tons of pulp, as the Brazilian Tree Industry (Ibá) said in the press release received by Lesprom Network. There was a small increase in total paper production, 1.9%, with the tissue sector standing out; production of this ... Read More »

Brazilian paper and pulp industry over view


BRASIL: Brazil primarily started in the 1950s. The industry was kickstarted by the BNDES (the development bank of Brazil). Silviculture was one of the five “priority areas” for investment and development for the Brazilian government in the late 1950s which was demonstrated through several eucalyptus pulp projects. The industry started with firm regulatory support and was further strengthened by a ... Read More »

Verescence sales its Brazilian business to focus on Europe and North America


BRASILIA:  Verescence (formerly SGD) has sold its Brazilian subsidiary Verescence do Brasil to Wheaton Brasil Vidros, the leading producer of high-end glass packaging for the cosmetics, perfume and pharmacy markets in Brazil. Thanks to this acquisition Wheaton consolidates its position in the Brazilian market and becomes one of the world’s leading glass manufacturers for the luxury sector. The operations of Verescence do Brasil, located ... Read More »

SA halts some meat imports from Brazil


BRASILIA: The department of agriculture, forestry and fisheries suspended meat imports from three Brazilian production facilities last week as a result of ongoing investigations by Brazilian authorities into alleged food safety fraud. According to Bomikazi Molapo, the department’s spokesperson, Brazilian officials suspended the facilities on March 5, after which South Africa suspended imports from these plants on March 16, when ... Read More »