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☆ Brazil Prosecutors Push to Unwind $3 Billion Paper Deal Over Foreign Land Ownership
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Ana ManoSAO PAULO (Reuters) - Brazilian federal prosecutors are asking a judge to unwind a 2017 deal handing control of pulp and paper company Eldorado from Brazilian firm J&F to Paper Excellence Group, citing restrictions on foreign land ownership. In 2017, J&F Investimentos agreed to sell Eldorado Brasil Celulose to a unit of Paper Excellence at an enterprise value of 15 billion reais ($3.0 billion). Brazil imposed limitations on foreign land ownership in the early 1970s, but spotty public records have left uncertainty about how consistently those restrictions are enforced. In December, Brazil's rural land agency Incra issued a recommendation saying the deal would effectively give Paper Excellence control of 14,486 hectares of rural land owned by Eldorado. Paper Excellence said Incra's opinion was not legally binding, and a judge has not ruled on the prosecutors' motion.

Persons: Ana Mano, unwind, Investimentos, Jackson Widjaja, Incra, Eldorado, Iraja Abreu, Brad Haynes, David Ljunggren Organizations: Ana Mano SAO PAULO, Reuters, Eldorado, Excellence, Eldorado Brasil, Agrarian Reform Ministry Locations: Brazil, Canada, Europe, Latin America, United States, Eldorado ., Eldorado

Finally Souza, an innkeeper and community leader in Bela Vista do Jaraqui, said he rallied two dozen neighbors to drill a 60-meter well in the heart of the world's largest freshwater basin. With rivers forming the backbone of transportation across the Amazon region, the drought has disrupted access to food and medicine in dozens of cities. The Amazon, the world's largest rainforest, is regarded by scientists as a bulwark against climate change because its dense vegetation absorbs carbon and emits oxygen. The five researchers predicting a 2026 recovery said the effects of the drought could endure even longer if El Nino is prolonged. That would release huge amounts of carbon dioxide, contributing to climate change and wiping out a wealth of plant and animal species found only in the Amazon.

Persons: Bruno Kelly, Raimundo Leite de Souza, Souza, Luiz Inacio Lula da Silva, Michael Coe, we're, El Nino, Coe, El, Philip Fearnside, Henrique Barbosa, Eduardo Taveira, Taveira, Paulo Brando, Brando, Barbosa, Brad Haynes, Jake Spring, Ana Mano, Andre Romani, Suzanne Goldenberg Organizations: REUTERS, Rights, Rio, cobras, United, Reuters, Research Center, National Institute of, Research, University of Maryland, Honda, LG, Positivo, GIANTS, Yale University, Sao Paulo, Thomson Locations: Tefe, Amazonas, Brazil, Rights MANAUS, caimans, Bela Vista, Guyana, Suriname, French Guiana, Venezuela, Colombia, United Nations, U.S, South America, South, Pacific, North America, El Nino, University, Baltimore, Western Europe, Brazil's Amazonas, Manaus, Itacoatiara, Madeira Rivers, Sao Paulo, Sao

Brazil's central bank Governor Roberto Campos Neto, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 9, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Brazil's central bank chief Roberto Campos Neto on Thursday said any change to the country's fiscal target would raise concerns, following comments by President Luiz Inacio Lula da Silva casting doubt on the government's vow to erase a budget deficit. Since then, Finance Minister Fernando Haddad has broadly reaffirmed Brazil's commitment to "fiscal balance," but lawmakers involved in next year's budget bill are hinting heavily that they aim to loosen the zero-deficit target. In Thursday's interview, Campos Neto highlighted that Brazil has approved important reforms since the COVID pandemic, including an overhaul on consumption taxes, which passed the Senate on Wednesday, but acknowledged the uncertainty on fiscal policy. "And that influences a lot of the variables that are important for us when you make decisions in monetary policy," he reinforced.

Persons: Roberto Campos Neto, Brendan McDermid, Luiz Inacio Lula da Silva, Campos Neto, Lula, Fernando Haddad, Rodrigo Campos, Dan Burns, Marcela Ayres, Mark Porter, Brad Haynes, Nick Macfie Organizations: REUTERS, Reuters NEXT, Finance, Thomson Locations: New York City , New York, U.S, New York, Brazil

On Wednesday, Brazil arrested two people on terrorism charges as part of an operation to take down a suspected Hezbollah cell planning attacks on Brazilian soil. Later that day, Mossad publicly thanked Brazil's police and said, "Given the backdrop of the war in Gaza," Hezbollah was continuing to attack Israeli, Jewish and Western targets. A spokesperson for the Israeli Prime Minister's Office, which oversees the Mossad, had no immediate comment. Brazil's Foreign Ministry told Israel this week that the diplomatic relationship would become unsustainable if any harm were to befall the trapped Brazilians, the sources said. The Iranian government and Hezbollah, an Iran-backed group in Lebanon, could not immediately be reached for comment.

Persons: Brazil's, Flavio Dino, Israel, Dino, Luiz Inacio Lula da Silva, Eli Cohen, Mauro Vieira, Vieira, Daniel Zonshine, Jair Bolsonaro, Lula, Zonshine, Andrei Rodrigues, Rodrigues, Gabriel Stargardter, Maytaal Angel, Jonathan Saul, Andrew Heavens, Brad Haynes, David Gregorio, Leslie Adler Organizations: RIO DE, Brazilian Federal Police, Prime, Office, Mossad, Foreign Ministry, Reuters, O Globo, Wednesday's Federal Police, Federal Police, Hezbollah, Thomson Locations: RIO DE JANEIRO, Brazil, Israel, Gaza, Bolivia, Colombia, Chile, Iran, Lebanon

MADRID/BRASILIA, Oct 20 (Reuters) - Argentina and Brazil are requesting 12.5 billion euros ($13.2 billion) in financial aid from the European Union in talks to conclude a trade agreement with South America's Mercosur bloc, according to a document seen by Reuters. Three EU and South American diplomats confirmed the Argentine request, which is backed by Brazil, in the rotating presidency of the four-nation Mercosur. A European diplomat involved in the talks told Reuters the 12.5 billion euros number was "floated" but that any support "would not be anything like that figure." The new aid request was made in a Mercosur counterproposal to an EU addendum proposing environmental safeguards. But the financial aid request and reopening of the public procurement chapter could prevent a final deal this year.

Persons: videoconferences, Xiana Mendez, Belen Carreño, Anthony Boadle, Brad Haynes, Jonathan Oatis Organizations: European Union, South America's Mercosur, Reuters, EU, South, Argentine, Mercosur, Thomson Locations: MADRID, BRASILIA, Argentina, Brazil, Mercosur, Uruguay, Paraguay, European, Brussels, Brasilia, Valencia

☆ American Airlines orders four Embraer E175s for Envoy Air
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

American's previous deal for seven E175s, announced in June, underscored a U.S. regional aviation market recovering from rough years marked by the COVID-19 pandemic. "We maintain our optimistic view on Embraer, and believe that 2024-25 could translate into a period of a solid pipeline of deliveries." The order will take Envoy Air's fleet of E-Jets to more than 150 aircraft by the end of next year, Embraer said. The United States is the main market for the first-generation E-Jets, which Embraer dubs "the backbone" of that country's regional network. Last month, Embraer also announced a firm order for five E175s from Nigeria's Air Peace.

Persons: planemaker, Air's, Pedro Fabregas, Luxembourg's, Aerolineas Argentinas, Francisco Gomes Neto, Gabriel Araujo, Steven Grattan, Brad Haynes, Jonathan Oatis Organizations: Embraer, Reagan, SAO PAULO, American Airlines, EMBR3, Air, E1s, Santander, Jets, U.S, Nigeria's, JPMorgan, Reuters, Thomson Locations: U.S, Washington , U.S, United States

FDI in Brazil fell 36% in the first eight months of 2023 to $37.9 billion. Currently, investors in long-term projects in Brazil with exposure to foreign currency pay taxes on currency appreciation over the course of the project - which the central bank has long flagged as a deterrent for FDI. Haddad said he was confident that policymakers had found a tool to shield investors from currency risks keeping them away. Executive orders in Brazil have immediate validity but must be endorsed by lawmakers within four months or they expire. Without that measure, Haddad said it will be "very challenging" to erase the deficit in next year's budget bill.

Persons: Fernando Haddad, Haddad, Luiz Inacio Lula da, Marcela Ayres, Bernardo Caram, Brad Haynes, Christopher Cushing Organizations: Finance, Reuters, Sao Paulo, leftist Workers Party, Executive, Thomson Locations: BRASILIA, Brazil, Brasilia, Sao, United States

☆ Factbox-Bolsonaro Faces Mounting Legal Woes in Brazil
▼ + stars: | 2023-10-18 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

The far-right former army captain was already the subject of police probes before and during his four years in office. But his efforts to undermine faith in Brazil's voting system, which culminated in a Jan. 8 insurrection by thousands of his supporters in Brasilia, have only added to his problems. Bolsonaro has repeatedly denied breaking any laws, and calls allegations against him a witch hunt by his political opponents. Among the legal headaches now facing Bolsonaro:BARRED FROM OFFICE TILL 2030In June, Brazil's federal electoral court (TSE) barred Bolsonaro from public office until 2030 for his conduct during last year's election. Last month, after months in jail, Cid agreed to cooperate with the federal police and was freed from behind bars.

Persons: Jair, Luiz Inacio Lula da Silva, Bolsonaro, Bolsonaro's, Mauro Cid, Cid, Gabriel Stargardter, Brad Haynes, Jonathan Oatis Organizations: RIO DE, Reuters, Supreme Locations: RIO DE JANEIRO, Brasilia, United States, Saudi

☆ Bolsonaro faces mounting legal woes in Brazil
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +3 min

Former Brazilian President Jair Bolsonaro leaves the Federal Police headquarters after testifying about the January 8 riots, in Brasilia, Brazil, October 18, 2023. The far-right former army captain was already the subject of police probes before and during his four years in office. Bolsonaro has repeatedly denied breaking any laws, and calls allegations against him a witch hunt by his political opponents. Among the legal headaches now facing Bolsonaro:BARRED FROM OFFICE TILL 2030In June, Brazil's federal electoral court (TSE) barred Bolsonaro from public office until 2030 for his conduct during last year's election. The inquiry has no power to punish Bolsonaro or others, but can issue recommendations for them to face criminal or civil charges.

Persons: Jair Bolsonaro, Ueslei Marcelino, Jair, Luiz Inacio Lula da Silva, Bolsonaro, Bolsonaro's, Mauro Cid, Cid, Gabriel Stargardter, Brad Haynes, Jonathan Oatis Organizations: Federal Police, REUTERS, DE, Supreme, Thomson Locations: Brasilia, Brazil, DE JANEIRO, United States, Saudi

☆ Brazil to call emergency meeting of UN Security Council over attack on Israel
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ammar Awad Acquire Licensing RightsBRASILIA, Oct 7 (Reuters) - Brazil's Foreign Ministry said on Saturday it would convene an emergency meeting of the United Nations Security Council following the biggest attack on Israel in years. Brazil, which assumed the rotating presidency of the UN Security Council this month, condemned the attacks in a public statement and expressed solidarity with the people of Israel. It also reaffirmed a commitment to a "two-state solution," with Palestine and Israel coexisting within mutually agreed and internationally recognized borders. The Palestinian Islamist group Hamas launched the largest attack on Israel in years on Saturday, killing at least 40 people and injuring hundreds. "The Brazilian government reiterates that there is no justification for resorting to violence, especially against civilians, and urges all parties to exercise maximum restraint to prevent an escalation of the situation," the Foreign Ministry said.

Persons: Ammar Awad, Israel coexisting, Benjamin Netanyahu, Marcela Ayres, Brad Haynes Organizations: REUTERS, Rights, United Nations Security, UN Security, Hamas, Foreign Ministry, Thomson Locations: Gaza, Sderot, Israel, Rights BRASILIA, Brazil, Palestine, Palestinian

☆ Exclusive: Sigma Lithium COO steps down in new leadership shakeup, shares dive
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. Sigma shares were down about 10% around midday in New York. Last week, Reuters reported that divorce proceedings between Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Sigma Chief, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, New York

☆ Exclusive: Sigma Lithium COO steps down in latest leadership shakeup
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsRIO DE JANEIRO, Oct 5 (Reuters) - Sigma Lithium (SGML.V) Chief Operating Officer Brian Talbot left the company at the end of last month, he told Reuters on Thursday, in the latest management shakeup at the Vancouver-based miner. Last week, Reuters reported that divorce proceedings between current Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver

☆ Mass death of Amazon river dolphins linked to severe drought, heat
▼ + stars: | 2023-10-02 | by ( Bruno Kelly | ) www.reuters.com time to read: +3 min

REUTERS/Bruno Kelly/File photo Acquire Licensing RightsMANAUS, Oct 2 (Reuters) - The carcasses of 120 river dolphins have been found floating on a tributary of the Amazon River since last week in circumstances that experts suspect were caused by severe drought and heat. Low river levels during a severe drought have heated water in stretches to temperatures that are intolerable for the dolphins, researchers believe. The Amazon river dolphins, many of a striking pink color, are unique freshwater species found only in the rivers of South America and are one of a handful of freshwater dolphin species left in the world. The scientists do not know with total certainty that drought and heat are to blame for the spike in dolphin mortality. Global warming's role in the current Amazon drought is unclear, with other factors such as El Nino at play.

Persons: Bruno Kelly, El Nino, Miriam Marmontel, Marmontel, Brazil's Chico Mendes, Anthony Boadle, Brad Haynes, Jonathan Oatis Organizations: Mamiraua Institute, Sustainable Development, REUTERS, Rights, Environmental, El, International Union for Conservation, Brazil's Chico Mendes Institute for Biodiversity Conservation, Thomson Locations: Tefe, Amazonas, Brazil, Rights MANAUS, South America, Tefé's, Lake Tefé, Tefé

☆ Exclusive: Brazil mineral rights dispute casts shadow on Sigma Lithium expansion
▼ + stars: | 2023-09-28 | by ( Fabio Teixeira | ) www.reuters.com time to read: +6 min

View shows Sigma Lithium Corp SGML.V production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. That transaction, Gardner's lawyers argued, would grant Sigma mineral rights to valuable lithium deposits and hurt RI-X's ability to develop its own mining project. At the time of the transfer, Gardner owned 49% of RI-X and Cabral-Gardner held 51%, documents show. Sigma shares, which had been up 4% in afternoon trading on Thursday, erased gains to close more than 2% lower after Reuters reported on the court injunction. Sigma declined to comment on the New York lawsuit, and said "the divorce proceedings are a private, personal matter and have no impact on how Sigma Lithium conducts business."

Persons: Washington Alves, Ana Cabral, Gardner, Calvyn Gardner, Cabral, Sigma, Fabio Teixeira, Ernest Scheyder, Gabriel Stargardter, Brad Haynes, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Deloitte, Brazilian Mining Association, New, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, Sao Paulo, New York

☆ Bolsonaro floated Brazil coup with military officers after election, aide says: reports
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Brazil's former President Jair Bolsonaro talks with media upon his arrival at Brasilia International Airport, Brazil June 30, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsSept 21 (Reuters) - A close aide to Jair Bolsonaro told police the former Brazilian president and senior military officers met last year to discuss a military intervention to overturn the result of the election after he lost, newspaper O Globo and news website UOL reported on Thursday. According to Thursday's reports, which did not cite their sources, Cid allegedly told police that Bolsonaro sounded out commanders of the armed forces about a draft decree to overturn the election. Lawyers for Cid and Bolsonaro did not immediately respond to requests for comment on the reports. Bolsonaro is accused of forging an election denial movement that culminated with the Jan. 8 storming of government buildings in Brasilia by thousands of his supporters.

Persons: Jair Bolsonaro, Ueslei Marcelino, UOL, Bolsonaro's, Mauro Cid, Cid, Bolsonaro, Alexandre de Moraes, Brad Haynes, Mark Porter Organizations: Brasilia International, REUTERS, Globo, Federal Police, Police, Cid, Supreme, Sao Paulo, Thomson Locations: Brazil, Brasilia

☆ Brazil's Lula warns United Nations of coup risk in Guatemala
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +3 min

[1/4] Brazil's President Luiz Inacio Lula da Silva addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Mike Segar Acquire Licensing RightsUNITED NATIONS, Sept 19 (Reuters) - Brazilian President Luiz Inacio Lula da Silva warned world leaders at the United Nations on Tuesday of the prospect of a coup in Guatemala, echoing U.S. concerns about risks to democracy in the Central American country after last month's election. "In Guatemala, there is a risk of a coup, which would impede the inauguration of the winner of democratic elections," Lula told the U.N. General Assembly. Lula's comments on Guatemala were surprisingly in line with Washington for a leader who has not always seen eye-to-eye with the United States. He also attacked the International Monetary Fund for not representing poor countries and the World Trade Organization for not averting increased protectionism in the world.

Persons: Luiz Inacio Lula da Silva, Mike Segar, Lula, Bernardo Arevalo, Francisco Mora, Mora, Alejandro Giammattei, Giammattei, Arevalo, Brad Haynes, Gabriel Stargardter, Anthony Boadle, Rosalba O'Brien, Jonathan Oatis, Grant McCool Organizations: General Assembly, REUTERS, UNITED NATIONS, United Nations, Central American, General, Party, Prosecutors, Organization of American, U.S, Cuba, . Security, International Monetary Fund, World Trade Organization, Reuters, Thomson Locations: New York City, U.S, Guatemala, Washington, United States, Ukraine, New York, Sao Paulo

Brazil's President Luiz Inacio Lula da Silva speaks during a press conference at a hotel after the G20 Summit, in New Delhi, India, September 11, 2023. In part, that reflects the choppier waters the 77-year-old Brazilian leader now navigates, as Beijing and Washington flirt with a new Cold War while war rages in Ukraine. Even before he took office, Lula was greeted like a rock star last November at the U.N. climate change conference in Egypt. The closer ties to Beijing could complicate Brazil's relationship with Washington, including access to key technology, Shannon added. "Brazil is rapidly wasting its soft power by trying to be an international player with an outdated agenda," he said.

Persons: Luiz Inacio Lula da Silva, Anushree, Pope, Jair Bolsonaro's, Lula, Oliver Stuenkel, Joe Biden, Vladimir Putin, Thomas Shannon, Porter, Shannon, Nicolas Maduro, Gabriel Boric, Rubens Barbosa, Putin, Maduro, Anthony Boadle, Brad Haynes, Paul Simao Organizations: REUTERS, Rights, United Nations General Assembly, U.S, General Assembly, Amazon, International Criminal Court, ICC, Arnold, Security, Mercosur, Venezuelan, Foreign Ministry, South, Thomson Locations: New Delhi, India, Rights BRASILIA, Brazil, China, Beijing, Washington, Ukraine, Sao Paulo, Egypt, U.S, Rio de Janeiro, Russia, South Africa, Shannon, Nicaragua, Venezuela, Brasilia, Brazilian, London, South American

☆ Brazilian farmer's giant rooster hobby hatches into profitable business
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] FILE PHOTO-Agronomist Rubens Braz poses with his Giant Indian Urubu rooster named Galalau at the Avicultura Gigante, which breeds giant roosters for small-scale meat production and ornamental purposes, in Formosa, Goias State, Brazil September 1, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsBRASILIA, Sept 13 (Reuters) - When farmer Rubens Braz started breeding Brazilian chickens, he had no idea how big the operation - or the birds - would get. Some twenty years later, he now raises giant roosters for small-scale farming and hobby purposes in central Brazil and is making a living from surging sales across the country. His birds, called "Giant Indian Roosters," can grow over 120 centimeters (47 inches) tall. As the global avian flu crisis has put a damper on business this year, limiting the transport of live animals in Brazil, Braz said he has focused on supplying fertilized eggs to nearby farmers.

Persons: Rubens Braz, Gigante, Ueslei Marcelino, Braz, Avicultura Gigante, Isadora Machado, Ana Mano, Brad Haynes, Alexandra Hudson Organizations: roosters, REUTERS, Rights, Indian Roosters, Alexandra Hudson Our, Thomson Locations: Formosa, Goias State, Brazil, Rights BRASILIA, Goias

☆ Lula to attend Brazil Independence Day parade amid tight security
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Tight security measures have been prepared to contain possible protests by supporters of former President Jair Bolsonaro, some of who stormed government buildings a week after Lula took office in January. During last year's bicentennial Independence Day, in the final stretch of a heated presidential campaign, Bolsonaro mixed military displays with a political rally drawing hundreds of thousands of supporters. In a weekly address on social media on Tuesday, Lula said he was returning the holiday's focus to the armed forces. Police, security and intelligence services have been mobilized to monitor for trouble by Bolsonaro supporters, but officials said they do not expect protests. Reporting by Ricardo Brito; Writing by Anthony Boadle; Editing by Brad Haynes and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Bolsonaro, Ricardo Brito, Anthony Boadle, Brad Haynes, Jamie Freed Organizations: Army, Police, Thomson Locations: BRASILIA

☆ Exclusive: Brazil's Petrobras plans China subsidiary in push to boost ties, CEO says
▼ + stars: | 2023-08-31 | by ( Marta Nogueira | ) www.reuters.com time to read: +2 min

Prates said Petrobras aims to open the Chinese subsidiary next year, after getting formal approval. "It's important to them," Prates said in a phone interview during a business trip to China. "It is an interesting signal, saying that in the same way that we have a Petrobras America, we will have a Petrobras China, because both countries are equally important to us," he added. Prates said Petrobras China subsidiary would allow Petrobras to operate and participate in projects as partner even in other countries, including in Africa. Petrobras wants to increase its share of China's oil imports to 15% from the current 5% in the next 10 to 20 years, Prates said.

Persons: Sergio Moraes, Jean Paul Prates, Jair Bolsonaro, Prates, Luiz Inacio Lula da Silva, Lula, didn't, Marta Nogueira, Gabriel Araujo, Brad Haynes, David Gregorio Our Organizations: Petroleo Brasileiro S.A, REUTERS, DE, Petrobras, PETR4, Reuters, Petrobras America, White House, HK, CITIC, China Development Bank, Bank of China, Thomson Locations: Rio de Janeiro, Brazil, DE JANEIRO, SA, China, Petrobras China, United States, Beijing, Africa

☆ Brazil eyes tax perks for energy sector, sparking 'green' vs oil debate
▼ + stars: | 2023-08-31 | by ( Marcela Ayres | ) www.reuters.com time to read: +4 min

Last year, more than 500 qualified energy projects received some 9 billion reais ($1.85 billion) in tax exemptions. However, senior officials at the Mines and Energy Ministry are pushing to broaden the incentives to include oil refineries and fuel storage facilities. Energy Ministry officials have argued that targeting tax benefits too narrowly would curtail oil and gas investments, calling in a technical note to expand incentives to oil and natural gas exploration, production and transportation. The Energy Ministry did not immediately respond to a request for comment. Brazilian state-run oil firm Petrobras (PETR4.SA) has forecast oil production for the next four decades, even as it ramps up investments in renewable energy.

Persons: Adriano Machado, Luiz Inacio Lula da Silva's, Lula, Marcela Ayres, Brad Haynes, David Gregorio Our Organizations: National, REUTERS, Petroleo Brasileiro SA Petrobras Follow, Reuters, Finance Ministry, Mines and Energy Ministry, Finance, Energy Ministry, Mines, Investments, Petrobras, PETR4, Thomson Locations: Brasilia, Brazil, Petroleo Brasileiro SA Petrobras Follow BRASILIA, Ukraine, biorefineries, divestments

☆ Brazil clears bottlenecks to oust US as top corn exporter
▼ + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com time to read: +7 min

"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.

Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato

Brazil's former President Jair Bolsonaro talks with media upon his arrival at Brasilia International Airport, Brazil June 30, 2023. A congressional inquiry surrounding those riots, along with police investigations overseen by the Supreme Court, have steadily deepened Bolsonaro's legal exposure since he begrudgingly left office. The Supreme Court declined to comment. The police access to the Bolsonaros' phone and bank records capped a day of setbacks for the former president. Later on Thursday, news magazine Veja reported that Bolsonaro's former right-hand man Mauro Cid planned to confess his involvement in crimes related to the alleged sale of jewelry gifted by foreign governments.

Persons: Jair Bolsonaro, Ueslei Marcelino, mulled, Bolsonaro, Luiz Inacio Lula da Silva, begrudgingly, Justive Alexandre de Moraes, Michelle Bolsonaro, It's, Walter Delgatti, Mauro Cid, Cezar Bitencourt, Bitencourt, Veja's, Paulo, Cid, Ricardo Brito, Anthony Boadle, Gabriel Stargardter, Brad Haynes, David Gregorio Our Organizations: Brasilia International, REUTERS, Rights, Supreme, Defense Ministry, Estado, Estado de S, Thomson Locations: Brazil, Rights BRASILIA, Brazilia, Estado de

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

Frederick Wassef, lawyer representing Brazil's President Jair Bolsonaro and Senator Flavio Bolsonaro, attends an inauguration ceremony at the Planalto Palace, in Brasilia, Brazil June 17, 2020. The search warrant issued by Supreme Court Justice Alexandre de Moraes followed police allegations that Bolsonaro's aides used government resources for their personal advantage. The decision by Moraes, seen by Reuters, said proceeds of the sales were delivered in cash to Bolsonaro via intermediaries. The raids follow an investigation into jewelry worth some $3 million given by the Saudi Arabian government as a presidential gift to Bolsonaro, which he failed to declare. The police investigation has established that Bolsonaro aides tried to recover the Saudi jewelry given to then-first lady Michelle Bolsonaro after it was seized in October 2021 in Sao Paulo by customs officials, who found the gems in an aide's backpack when he entered Brazil from Riyadh.

Persons: Frederick Wassef, Jair Bolsonaro, Flavio Bolsonaro, Adriano Machado, Alexandre de Moraes, Moraes, Mauro Cesar Cid, Bolsonaro's, Col Mauro Cid, Wassef, Mauro Cid, Cid, Bolsonaro, Michelle Bolsonaro, Ricardo Brito, Maria Carolina Marcelo, Rodrigo Viga Gaier, Carolina Pulice, Anthony Boadle, Brad Haynes, Rosalba O'Brien Organizations: REUTERS, RIO DE, Supreme, Federal Police, Reuters, Thomson Locations: Brasilia, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Bahrain, Bolsonaro's, Saudi, Sao Paulo, Riyadh, Brasiia, Rio de Janeiro

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