DIRS.INFO The most relevant business & tech news

And senior U.S. administration officials who previewed the meeting said the two nations are rolling out a partnership on workers' rights. Lula quickly traveled to Washington, where he and Biden bonded over the challenges to democracy they had both overcome. Labor is an issue dear to Lula, who got his start in politics as leader of a powerful metalworkers' union. They noted that the Biden administration has lifted travel restrictions to Cuba imposed by the prior administration and is also in the process of restarting remittances to that country. He declined to say whether Biden would broach the subject of Venezuela in their bilateral meeting.

Persons: Joe Biden, Luiz Inácio Lula da Silva, Lula, Biden, “, Thomas Traumann, Jair Bolsonaro, Donald Trump, Trump, Traumann, Dilma Rousseff, Lula’s, Paulo Peres, Venezuela’s Nicolás Maduro, Jake Sullivan, ___ Boak, Eléonore Hughes Organizations: Brazilian, General, U.S, White, Labor, Federal University of Rio, Amazon Fund Locations: New York, Ukraine, Washington, U.S, Cuba, Brazilian, Federal University of Rio Grande do Sul, Venezuela, Rio de Janeiro

☆ BRICS bank can help African countries tackle urgent challenges
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Aug 24 (Reuters) - The New Development Bank created by BRICS countries in 2015 can help finance African countries' projects to tackle their most urgent challenges, the bank's president Dilma Rousseff said on Thursday. The BRICS countries are "good partners" for Africa, former Brazilian President Rousseff said in a speech in Johannesburg, adding the bank would finance physical and digital infrastructure projects in Africa as well as educational ones. "The New Development Bank has the potential to be the leader of projects that address the most urgent challenges of African countries," she said, pointing out that although Africa's share of foreign direct investment (FDI) rose to 8.8% of global FDI in 2021 from just 4.9% in 2010 it "can and must rise much more". Rousseff also pointed to the need for joint infrastructure projects between several countries, noting that Africa has the world's greatest untapped hydroelectric potential. Reporting by Sergio Goncalves Editing by Andrei Khalip and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Dilma Rousseff, Rousseff, Sergio Goncalves, Andrei Khalip, Mark Potter Organizations: New Development Bank, Thomson Locations: Africa, Johannesburg

☆ Brazil launches 'growth acceleration' plan set to invest $350 billion
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A general view of the Copa Cabana beach during Independence Day celebrations, in Rio de Janeiro, Brazil September 7, 2022. But the government said its new version would be marked by a strong partnership between the public and private sectors, with more than 1.3 trillion reais estimated to be disbursed by 2026. According to a statement, 371 billion reais are set to be invested by the federal government, while state-owned firms such as oil giant Petrobras (PETR4.SA) would inject 343 billion. The private sector, it added, is seen investing a total 612 billion reais, added. Sao Paulo, the country's wealthiest and most populous state, comes second with an estimated 179.6 billion reais being invested in major infrastructure projects.

Persons: Ricardo Moraes, Luiz Inacio Lula da Silva, Lula, Dilma Rousseff, Sao, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan, Frances Kerry Organizations: Copa Cabana, REUTERS, Brazil's, Petrobras, PETR4, Sao Paulo, Paulo, Thomson Locations: Rio de Janeiro, Brazil, JANEIRO

☆ Brazil's Lula unveils $350 bln 'growth acceleration' plan
▼ + stars: | 2023-08-11 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +3 min

A general view of the Copa Cabana beach during Independence Day celebrations, in Rio de Janeiro, Brazil September 7, 2022. Critics say it incurred excessive spending, exacerbating Brazil's fiscal crisis, while failing to bring fundamental advances in infrastructure. The government did not immediately detail the fiscal impact of the initiative, or give a specific time frame for the plan. Yet Lula is under pressure to deliver much-needed growth to poor, under-developed regions and he wants Petrobras to be an engine of growth. "We'll accelerate growth in our country and help stop degradation of our planet," Haddad said in a speech.

Persons: Ricardo Moraes, Luiz Inacio Lula da Silva, Dilma Rousseff, Staff Rui Costa, Lula, Jair Bolsonaro, Fernando Haddad, Haddad, Rodrigo Viga Gaier, Gabriel Araujo, Steven Grattan, Anthony Boadle, Kirsten Donovan Organizations: Copa Cabana, REUTERS, Staff, Petrobras, PETR4, Finance, Sao Paulo, Thomson Locations: Rio de Janeiro, Brazil, JANEIRO, Sao

☆ Even a Russian-cofounded bank can't fund new projects in the country — and it shows just how financially isolated the country is
▼ + stars: | 2023-07-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

"Any speculations concerning the discussion of new operations of the NDB in Russia are unfounded," the development bank said in a Wednesday statement. The Shanghai-headquartered NDB was founded in 2015 by the "BRICS" nations — that's Brazil, Russia, India, China, and South Africa. She said the bank is not considering new projects in Russia as it operates in compliance with international financial and capital restrictions. On Wednesday, she also met with Russian President Vladimir Putin, the Kremlin said in a statement. Mere days after it invaded Ukraine, some Russian banks were banned from SWIFT, the Belgium-based messaging service that lets banks globally communicate about cross-border transactions.

Persons: —, Dilma Rousseff, Rousseff, Vladimir Putin, Putin Organizations: New Development Bank, Twitter, Kremlin, SWIFT Locations: Russia, Shanghai, Brazil, India, China, South Africa, Russian, St, Petersburg, Ukraine, Belgium

☆ BRICS bank NDB says not considering new projects in Russia
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 26 (Reuters) - The New Development Bank (NDB), the multilateral bank set up by the BRICS states, is not considering new projects in Russia as it operates in line with restrictions imposed in financial and capital markets, its head said on Wednesday. Dilma Rousseff said in a statement posted on messaging platform X, formerly known as Twitter, that any speculations concerning the discussion of new operations of the bank in Russia were "unfounded". BRICS countries, namely Brazil, Russia, India, China and South Africa, are scheduled to gather in the African country next month. The BRICS group of emerging countries launched the Shanghai-headquartered bank in 2015. Rousseff was appointed to head it earlier this year by Brazilian President Luiz Inacio Lula da Silva.

Persons: Dilma Rousseff, Rousseff, Vladimir Putin, Putin, Cyril Ramaphosa, Luiz Inacio Lula da Silva, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, New Development Bank, South, United Arab, Thomson Locations: Russia, Brazil, Africa, St . Petersburg, India, China, South Africa, United Arab Emirates, Bangladesh, Egypt, Shanghai

☆ Sao Paulo governor turns heads on Brazil's right after Bolsonaro election ban
▼ + stars: | 2023-07-20 | by ( Ricardo Brito | ) www.reuters.com time to read: +5 min

Although the governor and his closest advisers insist he is focused on serving Sao Paulo state, many of Brazil's seasoned conservative power brokers are already calling the pro-business moderate a natural candidate for the presidency in three years. It also helped shore up three-quarters support among Sao Paulo lawmakers for the reform as it cleared one chamber of Congress. He is pushing to privatize the port of Santos on the Sao Paulo coast, a bid blocked for now by the federal government. And he has vowed to revive efforts to privatize state water utility Sabesp (SBSP3.SA), while Lula has decried recent privatizations under Bolsonaro. "He has to finish his mission in Sao Paulo with a second term," said one close aide, asking not to be named as he was not authorized to speak about the governor's plans.

Persons: Tarcisio de Freitas, Jair Bolsonaro, Freitas, Bolsonaro, Luiz Inacio Lula da Silva's, Marcos Pereira, of God, Arthur Lira, Ciro Nogueira, Bolsonaro's, Antonio Queiroz, Dilma Rousseff, Lula, Queiroz, Ricardo Brito, Anthony Boadle, Brad Haynes, Paul Simao Organizations: Paulo, Republicans, Universal Church of, Liberal Party, ARMY, Workers Party, Sao, Thomson Locations: BRASILIA, Sao Paulo, of, Brazilian, Santos

☆ A China-based bank that's trying to de-dollarize global lending is now having trouble repaying its dollar debts, report says
▼ + stars: | 2023-06-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The New Development Bank is having trouble finding dollar funds to repay debts, the Wall Street Journal said. But its own finances were deeply reliant on Wall Street, which backed away after the Ukraine war. Based in Shanghai, the New Development Bank has largely ceased issuing new loans, the report said. But to provide capital to developing economies, the New Development Bank had to borrow from Wall Street as well as Chinese lenders. The New Development Bank did not respond immediately to Insider's request for comment.

Persons: —, Dilma Rousseff Organizations: New Development Bank, Wall Street Journal, Service, Wall Street, International Monetary Fund Locations: Ukraine, Shanghai, Brazil, Russia, India, China, South Africa, Moscow, Russian, Argentina, Saudi Arabia, Honduras, Beijing

☆ Brazil's top court sentences ex-President Collor to prison for corruption
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] Then-Senator Fernando Collor de Mello, also a former Brazilian president, during a vote session on the impeachment of President Dilma Rousseff in Brasilia, Brazil, May 11, 2016. REUTERS/Ueslei Marcelino/File PhotoBRASILIA, May 31 (Reuters) - Brazil's supreme court voted on Wednesday to sentence former President Fernando Collor de Mello to 8 years and 10 months in prison on corruption and money laundering charges. The Brazilian prosecutor's office accused Collor, 73, of having received around 30 million reais ($6 million) in bribes from a subsidiary of state-run oil company Petrobras (PETR4.SA). The top court convicted the former senator in mid-May, but justices had still to decide on his sentence, which he can appeal. A rakish, dynastic heir with a penchant for expensive sports cars, Collor was one of Brazil's original free-marketeers whoopposed Brazil's entrenched protectionism and sought to privatize state-run firms in his curtailed presidency.

Persons: Fernando Collor de Mello, Dilma Rousseff, Ueslei Marcelino, Collor, Brazil's, Ricardo Brito, Carolina Pulice, Anthony Boadle, Grant McCool Organizations: REUTERS, Brazilian, Petrobras, PETR4, Thomson Locations: Brazilian, Brasilia, Brazil, BRASILIA, Alagoas

☆ World leaders are lining up to meet Xi Jinping. Should the US be worried?
▼ + stars: | 2023-04-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —Xi Jinping has had a busy couple of weeks. “(Chinese leaders) believe it’s time now for China to make its strategic plans,” said Li Mingjiang, an associate professor of international relations at Singapore’s Nanyang Technological University. Beijing has watched uneasily as the war in Ukraine has driven the US and its European allies closer. When French President Emmanuel Macron arrived in Beijing last week, Xi drew comparisons between China and France: both “major countries with a tradition of independence,” Xi said, and “firm advocates for a multi-polar world” – or a world without a dominant superpower. But how Beijing navigates these initiatives, observers say, comes down to a bottom line that’s integrally related to Xi’s global ambitions and world view.

"I am convinced that both Ukraine and Russia are waiting for someone else to say, 'Let's sit down and talk,'" Lula told journalists last week. Lula has suggested a peace solution could be the return of newly invaded territory, though not Crimea - an option that Ukrainian President Volodymyr Zelenskiy has rejected outright. For his initiative to advance, Lula needs China to send a message to Russia, said a European diplomat in Brasilia. Some 20 agreements to be signed include creation of a sixth satellite in a joint program started in 1988, which will be used for monitoring the Amazon, Brazil's foreign ministry said. China overtook the United States as Brazil's top trading partner in 2009 and is a major market for Brazilian soybeans, iron ore and oil.

☆ Brazil's Lula reschedules China trip, will meet Xi on April 14 in Beijing
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, March 31 (Reuters) - Brazil's President Luiz Inacio Lula da Silva will meet with Chinese President Xi Jinping on April 14 in Beijing, his office said on Friday, rescheduling a visit that was postponed last week after he was diagnosed with a mild pneumonia last week. Lula will leave for China on April 11 and intends to stick to the original agenda, including the signing of some 20 agreements with Brazil's largest trading partner. The trip's aim is to upgrade relations with China now that Lula is back in office and seek new Chinese investment in the Latin American country. It will still be a state visit, with meetings with Xi, the Chinese Prime Minister, Li Qiang, and an event at the National People's Assembly, Lula's presidential office said. Reporting by Lisandra Paraguassu Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Lula to meet China's Xi on March 28 in Beijing
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] Brazil's President Luiz Inacio Lula da Silva speaks during the celebrations marking the 43rd anniversary of the founding of the Workers' Party, in Brasilia, Brazil February 13, 2023. REUTERS/Adriano MachadoBRASILIA, Feb 17 (Reuters) - Brazil's new President Luiz Inacio Lula da Silva will meet Chinese leader Xi Jinping on March 28 on Lula's first trip of his current term to his country's largest trading partner, official sources told Reuters. Lula, who visited China twice during his earlier government 2003-2010, will stay in Beijing for four days for talks on trade, investments and the war in Ukraine. I want to talk about it with President Xi Jinping. The growing economic relationship between the two countries became clear in 2004 when Lula first visited China with a large delegation that included 450 Brazilian business representatives.

☆ The far-right wore Brazil's national soccer team jersey during anti-democratic riots
▼ + stars: | 2023-01-10 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +7 min

The Brazilian national team's soccer jersey has been appropriated by Bolsonaro for years. When Brazil's national team won the 2019 Copa America, Bolsonaro sat squarely with the players and trophy, smiling ear to ear as he parroted the win. "The Brazilian national team shirt is a symbol of the joy of our people," the CBF tweeted on Monday. "Brazil's yellow shirts shimmered and sparkled in the blistering white sunlight of the Mexican noon — the appointed time of kick-offs to support European TV schedules." "We can't be ashamed of wearing our green and yellow shirt," da Silva said in late November, per The Guardian.

[1/2] Supporters of Brazil's former President Jair Bolsonaro are pictured through broken glass as they hold a demonstration against President Luiz Inacio Lula da Silva, in Brasilia, Brazil, January 8, 2023. REUTERS/Adriano MachadoMEXICO CITY/SAO PAULO, Jan 9 (Reuters) - Brazilian assets may be hit by fresh volatility on Monday after supporters of former President Jair Bolsonaro stormed key government buildings, echoing the U.S. Jan. 6 insurrection of 2021, analysts said. Ricardo Lacerda, founder and CEO of Brazilian investment bank BR Partners (BRBI11.SA), said he expects markets to react with volatility in the short term, especially on Monday, given the higher institutional risk. But Komura expects the markets to recover by the end of the week considering a strong institutional reaction against the rioters. While large sections of the Brazilian banking industry has tended to back Bolsonaro given his free market credentials relative to Lula's Workers' Party, the sector's main industry association roundly condemned Sunday's violence.

☆ Brazil markets tumble on Lula's first full day in office
▼ + stars: | 2023-01-02 | by ( Anthony Boadle | ) www.reuters.com time to read: +5 min

Haddad, who is seeking to dispel market fears that he might not maintain fiscal discipline, took office on Monday, pledging to control spending. "The policies remind us of Dilma Rousseff's government rather than Lula's," Gracia said, referring to Lula's handpicked successor, who was impeached while in office. Allies said Lula's newfound social conscience was the result of his 580 days in prison, Reuters reported on Sunday. Lula kicks off his third presidential term after persuading Congress to pass a one-year, 170 billion-reais increased social spending package, in line with his campaign promises. Lula spent his first day in office meeting with more than a dozen heads of state who attended his inauguration.

☆ 'Coup-mongering' Bolsonarista's battle cry reveals a radicalized Brazil
▼ + stars: | 2022-12-28 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +9 min

Lots of people realized this wasn't a safe place," said Lucas Mello, a 22-year-old TikToker who has lived in the camp since Dec. 5. Three days after the riots, Moraes released Baldin, sent him home with an ankle bracelet, and barred him from talking to the media. "The heavily violent (protests) ... occurred in exactly the same context that motivated the temporary arrest of Milton Baldin," Moraes wrote in his sealed ruling. Bolsonaristas deride Moraes as an unelected despot who has censored free speech and trampled on the president's executive power. On Dec. 9, Bolsonaro broke weeks of post-election silence with an ambiguous message many viewed as encouragement to his protesting supporters.

☆ Petrobras CEO prospect pitches an expansive vision for oil giant
▼ + stars: | 2022-12-15 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

Magda Chambriard, a former Brazil oil regulator, also said she does not support taking back divested oil refineries and other assets or using Petrobras' profits to subsidize consumer fuel prices. Lula, who spent time in jail over a Petrobras corruption scandal, campaigned on abandoning further privatization of Petrobras, and on investing in diversification. Petrobras has sold oil refineries, retail gas stations, power plants and gas pipelines to pay debt and boost its shareholder payouts. Like Lula, she believes the way to guarantee Petrobras' future in a world determined to cut planet-warming emissions should include developing less carbon-intensive fuels, such as natural gas. Some of the dividends Petrobras distributed this year should be redirected to energy production, including exploration of new oil and gas fields, she said.

☆ Fact Check-Image shows 2016 anti-government protest in Brazil, not a 2022 demonstration
▼ + stars: | 2022-11-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image of an anti-government protest in Brazil in 2016 is being falsely linked to demonstrations in 2022. However, the protest shown in the image took place in 2016, not 2022, as is claimed online. Reuters addressed the 2016 protests in articles here and here. There have been demonstrations against the 2022 election result (here and here). The photo was taken during anti-government protests in 2016, not 2022.

☆ 'He is our phoenix': In Brazil, newly elected Lula has seen ups and downs
▼ + stars: | 2022-11-01 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Da Silva’s mother was left alone to raise eight children, of whom Lula was the youngest. He told The Associated Press he saw da Silva’s face light up with each colorful envelope he delivered. “God willing, one day we will publish (the letters),” da Silva said at a rally in September. After 580 days’ imprisonment, da Silva was a free man — free to marry his girlfriend, and free to run for the presidency. Ultimately, it came down to the wire: Da Silva was elected with 50.9% of the vote.

☆ Brazil leftist Lula wins third presidential term to redeem tarnished legacy
▼ + stars: | 2022-10-31 | by ( Anthony Boadle | ) www.reuters.com time to read: +4 min

His policies lifted millions from extreme poverty, expanded access to education and healthcare, and reduced Brazil's deep social inequalities during years of robust growth driven by a global commodities boom. GLOBAL PRESTIGEHis presidency also reinvigorated Brazil's oil and ship-building industries, while its economy rose to sixth-largest in the world. Brazil's global prestige hit new levels as it was chosen to host the Olympics and soccer World Cup. However, Lula's legacy was tarnished amid revelations of a vast kickback scheme on public contracts, benefiting leaders from major political parties, including his own. A heavy smoker for years, Lula was treated with chemotherapy for throat cancer in 2011, deepening his gruff baritone.

Most speculation has focused on who will be his finance minister, which will be a major signal to investors of his commitment to fiscal discipline. If Lula has settled on his pick, he has not yet told even his closes aides. "He banned any talk of this because in a tight election, anticipating names could have a negative impact," said a senior member of Lula's Workers Party who requested anonymity. Meirelles was finance minister in the government that replaced impeached President Dilma Rousseff in 2016, drawing lasting ire from some in the Workers Party. She would be a strong pick for agriculture minister, sources said, as she comes from farm state Mato Grosso do Sul, although she has said publicly she would rather be education minister.

[1/4] An aerial view shows a deforested plot of the Amazon rainforest in Manaus, Amazonas State, Brazil July 8, 2022. REUTERS/Bruno Kelly/File PhotoSAO PAULO, Oct 26 (Reuters) - Brazil's presidential election on Sunday may determine the fate of the Amazon jungle, the world's largest rainforest, after deforestation soared in the past four years under President Jair Bolsonaro. Destruction in the Amazon rainforest last year hit the highest level since 2006, according to the government's space research agency INPE. Lula took office in 2003 with levels of Amazon deforestation near all-time highs. By 2010, his last year in office, deforestation had fallen by 72% to near record lows.

☆ Neither Bolsonaro nor Lula is the best choice for Brazil
▼ + stars: | 2022-10-02 | by ( Arick Wierson | Arick Wierson Is A Six-Time Emmy Award-Winning Television Producer | A Former Senior Aide To Former New York City Mayor Michael Bloomberg. He Advises Political | ) www.nbcnews.com time to read: +7 min

Although Brazil is a multi party country, Sunday’s election has been distilled down to a choice between which of the two viable candidates running is capable of doing the least amount of harm. Sadly, no matter which way the Brazilian electorate decides to go, it will almost certainly mark a wrong turn. The end result is a large number of reluctant voters who cast a vote for a candidate begrudgingly. In many respects, these pressing problems are the result of the policies and actions of Brazilian leadership over the past two decades — inextricably linked to both the Lula and Bolsonaro administrations. While Lula’s track record on the environment is mixed at best, Bolsonaro’s anti-environmental agenda has never been a secret.

☆ Bolsonaro's outsider aura dims after Brazil's four tough years
▼ + stars: | 2022-09-29 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +4 min

Brazil's President and candidate for re-election Jair Bolsonaro attends a campaign rally in Santos in Sao Paulo state, Brazil, September 28, 2022. REUTERS/Amanda PerobelliRIO DE JANEIRO, Sept 29 (Reuters) - Brazilian President Jair Bolsonaro once said only God could remove him from power. A career politician turned self-styled outsider, the tough-talking Bolsonaro was elected in 2018 on vows to clean up Brazil's graft-stained politics and modernize its economy. Prior to becoming president, Bolsonaro was known as a fringe conservative congressman, popular among police and soldiers in his Rio de Janeiro base. But with hunger still haunting some 33 million Brazilians, Bolsonaro is not getting much credit.

Search resuls for: "Dilma Rousseff"

25 mentions found