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☆ Brazil's Jair Bolsonaro applies for 6-month U.S. visitor visa
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +2 min

Former Brazilian President Jair Bolsonaro has filed a request for a six-month visitor visa to stay in the U.S., indicating he may have no immediate intention of returning home, where legal issues await. The application was first reported by The Financial Times, citing Bolsonaro's immigration lawyer, Felipe Alexandre. Bolsonaro left Brazil for Florida on Dec. 30, two days before the inauguration of his leftist rival, Luiz Inácio Lula da Silva. It has been widely assumed — though not confirmed — that Bolsonaro entered the U.S. on an A-1 visa reserved for sitting heads of state. The processes will continue, but maybe he thinks he can at least avoid some sort of revenge punishment."

On the final leg of his South American tour, Scholz on Monday became the first foreign leader to visit Lula since his inauguration. But he grew stony-faced as his fellow leftist leader expounded his views on the Ukraine war. Lula also said Brazil would not provide ammunition to Ukraine for German-made Gepard anti-aircraft guns, as reportedly requested by Germany. In both countries, Scholz visited memorials to the victims of their military dictatorships that he said underscored the need to fight for democracy and freedom. In Brasilia, he expressed his full solidarity for Lula and Brazil at large after Bolsonaro supporters earlier this month stormed government buildings.

☆ Germany pledges funds to help Brazil defend Amazon rainforest
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Jan 30 (Reuters) - Germany on Monday pledged 200 million euros ($217 million) to help Brazil defend the Amazon rainforest, a global ecosystem devastated during years of rule under former Brazilian President Jair Bolsonaro. The sum includes a donation of 35 million euros ($38 million) to the Amazon Fund to strengthen a billion-dollar initiative funded by Norway and Germany to protect the South American rainforest and fight deforestation. The Amazon Fund was re-activated by Brazil's Environment Minister Marina Silva the day she took office vowing to halt deforestation in the world's largest tropical rainforest. As president Bolsonaro said Brazilians had the right to develop natural resources in the Amazon. The German assistance includes socio-environmental projects to support Brazilian states in the Amazon rainforest and low-interest loans to farmers for the reforestation of their land, a statement issued by Brazil said.

☆ Brazil's government eyes compensation deal for 2015 Vale-BHP dam burst
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Jan 27 (Reuters) - Brazil's government will try to reach a deal "as soon as possible" on compensation for the 2015 burst of a tailings dam owned by Samarco, a joint venture between Vale (VALE3.SA) and BHP <BHP.AX>, Institutional Relations Minister Alexandre Padilha said on Friday. In a news conference in Brasilia, Padilha said the matter had been discussed at a meeting with state governors earlier in the day. "We will try and reach this compensation agreement as soon as possible in light of the environmental crime that was committed in Mariana," Padilha said. In late 2021, a study done by a company contracted by prosecutors showed the "socio-environmental" damage caused by the dam rupture was between 37.6 billion reais ($7.35 billion) and 60.6 billion reais ($11.85 billion). ($1 = 5.1126 reais)Reporting by Lisandra Paraguassu; Editing by Isabel Woodford and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's central govt posts 54.1 bln reais surplus in 2022, first in 9 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

The central government, comprising Brazil's Treasury, central bank and Social Security, posted a 54.1 billion reais ($10.7 billion) budget surplus before interest payment in 2022. It followed a 4.4 billion reais surplus in December, which came higher than the 2.8 billion reais expected in a Reuters poll. Private economists polled weekly by the central bank expect 2022 GDP to rise 3%, from just 0.3% they had forecast when last year began. Surging expenses led the primary deficit budgeted for 2023 to reach impressive 232 billion reais. ($1 = 5.0783 reais)Reporting by Marcela Ayres; Editing by Mark Porter and Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Carminatti led as chief geologist the discovery in 2006 of one of the world's largest offsfhore oil deposits this century, the pre-salt. The salt barrier alone was more profound than any well that Petrobras, the world's leader in deep-water exploration, had drilled before. The pre-salt area is now responsible for more than 70% of Brazil's daily production of near 4 million barrels of oil and gas. Past CEOs have failed to convince him to take a post as head of a division in the company. Petrobras experts have compared the oil deposits in the region those of nearby Guyana.

Companies Petroleo Brasileiro SA Petrobras FollowHOUSTON, Jan 27 (Reuters) - The new Chief Executive of Brazil's Petrobras, Jean Paul Prates, has picked geologist Mario Carminatti to head the oil company's exploration and production division, people with knowledge of the information said on Friday. Petrobras said in a securities filing it had not received official statements regarding the nomination of any executive. He won praise for the pre-salt discovery, pressing on with drilling though the salt barrier that alone was deeper than any well that Petrobras, the world's leader in deep-water exploration, had drilled before. The pre-salt area is now responsible for more than 70% of Brazil's daily production of near 4 million barrels of oil and gas. Carminatti is currently involved in an almost $3 billion exploration effort in a new frontier North of Brazil, the Equatorial Margin.

☆ Brazilian ex-senator takes over as Petrobras CEO; shares fall
▼ + stars: | 2023-01-26 | by ( Marta Nogueira | ) www.reuters.com time to read: +3 min

Prates was unanimously approved by the board, on which he will also hold a seat, Petrobras said in a securities filing. He has said the Lula government would not take an aggressively interventionist approach to Petrobras. Petrobras made bumper payouts in recent quarters, but Prates has said the company cannot "just keep tapping sub-salt oil and paying dividends". Prates, who was a senator for the past four years, is the first politician in several years to hold a high-ranking office at Petrobras. Earlier in the day, the Brazilian Senate's official gazette published the resignation of Prates as a lawmaker.

☆ Latin America, Caribbean call for more international funding at CELAC summit
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 24 (Reuters) - Countries from Latin America and the Caribbean on Tuesday called for more international funding in the region following economic and climate crises, in a final declaration after a summit held in the Argentine capital of Buenos Aires. The 111-point "Declaration of Buenos Aires" from the Community of Latin American and Caribbean States' (CELAC) seventh summit described how effects of COVID-19, climate change and the war in Ukraine had rippled across the region. "We express our concern that several countries emerged from the pandemic with higher levels of public debt," it said. Venezuelan President Nicolas Maduro sent a recorded message saying he had chosen not to attend due to "permanent conspiracies, the permanent threat, calculated ambushes." Reporting by Lucila Sigal; Writing by Sarah Morland; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Lula proposes Mercosur trade deal with China after EU accord
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

Jan 25 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Wednesday that he favored an agreement between Mercosur and China in a plan to modernize and open the South American trade bloc to other regions. On a visit to Uruguay to dissuade its government from reaching a deal on its own with China, which would undermine the Mercosur customs union, Lula said the long-awaited Mercosur accord with the European Union must be completed urgently. "We want to sit down as Mercosur and discuss with our Chinese friends the Mercosur-China agreement," Lula said, adding that China is Brazil's biggest trading partner. Talks for the EU-Mercosur trade agreement were completed in 2019, but environmental concerns stalled the deal before it was approved by the legislatures of the EU member states. Uruguay's President Lacalle Pou said that his country needed to open up its economy to the world and it could discuss parallel trade arrangements outside of Mercosur.

☆ Brazil's Yanomami region looks like ‘concentration camp,’ says official
▼ + stars: | 2023-01-24 | by ( ) www.nbcnews.com time to read: +3 min

“It looks like a concentration camp,” Tapeba, a doctor appointed to the position by Brazil’s new government, said in a radio interview. Brazilian President Luiz Inacio Lula da Silva, left, visits the Yanomami Indigenous Health House (Casai) in the Boa Vista rural area, Roraima state, Brazil, on Saturday. “It’s an extreme calamity, many Yanomami are suffering from malnutrition and there is a total absence of the Brazilian state,” Tapeba said. This can only be resolved by removing the gold miners and that can only be done by the armed forces,” he said. Brazil’s Supreme Court ordered the removal of the gold miners.

☆ Argentina and Brazil are discussing plans for a common currency — analysts can scarcely believe it
▼ + stars: | 2023-01-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina President Alberto Fernandez (R) and Brazil President Luiz Inacio Lula da Silva (L) greet each other after signing a series of agreements during a news conference in Buenos Aires. Argentina and Brazil, the two largest economies in South America, are in early talks to create a common currency, as part of a coordinated bid to reduce reliance on the U.S. dollar. Speaking on his first international visit since taking office, Lula said that the currency would initially be designed for trade and transactions between Brazil and Argentina. Brazil's Finance Minister Fernando Haddad said that the adoption of a common currency was not designed to replace the Brazilian real and the Argentine peso. "Developing and implementing a common South American currency is, therefore, pie in the sky."

☆ Premarket stocks: ESG funds had a terrible year but traders kept investing anyway
▼ + stars: | 2023-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —ESG funds — investments that evaluate companies using environmental, social and governance factors — just survived a tumultuous 2022. That increased scrutiny also played into political differences around ESG investing and opened the door to vocal critics. Responsible investing funds also came up against mighty economic headwinds. These funds’ outsized investments in tech stocks and lack of energy stocks (which was the only positive sector this past year), led to a noticeable losses for ESG funds in general last year. On a global scale, ESG funds also attracted positive investment flows even as money was pulled from broader funds, according to Refinitiv Lipper data provided exclusively to Before the Bell.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

☆ Explainer: What Brazil and Argentina's 'currency union' really means
▼ + stars: | 2023-01-23 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

BRASILIA, Jan 23 (Reuters) - Brazil and Argentina sparked some excitement on Sunday over the possibility of a potential "currency union", though the two countries are unlikely to ditch the real or peso any time soon. That sparked off chatter about a European Union-style zonal currency for South America, though officials have since played that down and analysts say a full-on currency union is a distant prospect. Under the plan, the Brazilian real and Argentine peso would continue to exist, with the new tender targeted narrowly at trade. That is key for Argentina, which is grappling with low foreign currency reserves after years of debt crises. In 2019, former Brazilian President Jair Bolsonaro touted plans for a currency union, which also never materialized.

☆ Venezuela calls off Maduro meeting with Lula, Brazil govt says
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Jan 23 (Reuters) - Venezuela has decided to call off a previously arranged meeting between President Nicolas Maduro and his Brazilian counterpart Luiz Inacio Lula da Silva on Monday, Lula's press office said. Later, however, Lula's team released a new update of his agenda saying the meeting would no longer take place as Venezuela canceled it. Lula, who took office on Jan. 1, asked his foreign relations minister to restore relations with Venezuela. Diplomatic relations between the countries were broken in 2020 by Brazil's former far-right President Jair Bolsonaro. Reporting by Lisandra Paraguassu; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil, Argentina to encourage trade, says Haddad; plays down common currency
▼ + stars: | 2023-01-23 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

His remarks came after Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez published a joint article saying their aim for greater economic integration included studies of a common South American currency. Haddad, who floated such a possibility in an article last year, said removing trade barriers between the two largest economies in South America could involve using a single currency for commerce, given a lack of U.S. dollars in Argentina. "Trade is really bad and the problem is precisely the foreign currency, right? Haddad noted Argentina was an important buyer of Brazilian industrial goods and that "several possibilities" were being floated to circumvent its currency problems, though no decision had been made. The Financial Times had previously reported, citing Argentina's Economy Minister Sergio Massa, that the neighboring nations would announce this week they were starting preparatory work on a common currency.

☆ Emerging markets are a top investing trend for 2023. Here's the best way to take advantage
▼ + stars: | 2023-01-23 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

The iShares MSCI emerging market Asia exchange traded fund is up 11% and the iShares core MSCI emerging markets ETF is up more than 10% since the year began. For Kotler, it's emerging market bonds, where his firm has an overweight rating as opposed to a neutral rating on equities. One other factor that should help emerging market countries outperform in 2023 is the winding down of the strength of the U.S. dollar. Some top emerging market bond funds include the iShares JP Morgan USD Emerging Markets Bond ETF , the Vanguard Emerging Markets Government Bond ETF and the VanEck JP Morgan EM Local Currency Bond ETF. Of course, the downside to large emerging market funds is that they tend to be most heavily weighted to China, as it's the largest emerging market country.

☆ Analysis: Lula confronts Brazil military's pro-Bolsonaro lean with carrot and stick
▼ + stars: | 2023-01-23 | by ( Anthony Boadle | ) www.reuters.com time to read: +6 min

But at a Friday meeting the commanders of the armed forces, Lula did not bring up the attack, according to a government official who witnessed the meeting. The armed forces' strategic plans to modernize its equipment included developing a nuclear-powered submarine contracted with France's Naval Group, a subsidiary of defense contractor Thales (TCFP.PA). GENIE OUT OF THE BOTTLEWhether a splurge on military hardware will help tamp down pro-Bolsonaro sentiment in the armed forces is open to question. "Lula wants this to go away as soon as possible," he added. "Starting to punish members of the armed forces for what happened may be legally the right thing to do but politically it would open a Pandora's box."

☆ Drag artist says George Santos was a left-wing Lula supporter in Brazil before going to the US and turning into 'this crazy thing'
▼ + stars: | 2023-01-23 | by ( Nicole Gaudiano | Virginia Alves | ) www.businessinsider.com time to read: +4 min

A drag artist who knew him in the mid-2000s told Insider Santos supported Brazil's left-wing president then. Rochard said Santos supported Lula and then "goes to the US and turns into this crazy thing there. They were all Lulistas and Anthony was too because he hung out with us," Rochard told Insider, using the name Rochard says Santos used in Brazil, "Anthony." Brazilian drag artist Eula Rochard holds a newspaper from 2008 that she says shows GOP Rep. George Santos in drag attire. Rochard met Santos when he was about 17 years old and said she used to catch Santos in "little white lies."

☆ Brazil and Argentina to discuss common currency
▼ + stars: | 2023-01-22 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 22 (Reuters) - Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned. "We also decided to advance discussions on a common South American currency that can be used for both financial and commercial flows, reducing costs operations and our external vulnerability," the article said. Earlier in the day, the Financial Times reported the neighboring nations will announce this week that they are starting preparatory work on a common currency. . . a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,” Argentina’s economy minister Sergio Massa told the Financial Times. Reporting by Lisandra Paraguassu; Additional reporting by Jyoti Narayan in Bengaluru; Editing by Tomasz Janowski and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil declares emergency over deaths of Yanomami children from malnutrition
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +3 min

BRASILIA, Jan 22 (Reuters) - Brazil's ministry of health has declared a medical emergency in the Yanomami territory, the country's largest indigenous reservation bordering Venezuela, following reports of children dying of malnutrition and other diseases caused by illegal gold mining. In four years of Bolsonaro's presidency, 570 Yanomami children died of curable diseases, mainly malnutrition but also malaria, diarrhea and malformations caused by mercury used by wildcat gold miners, the Amazon journalism platform Sumauma reported, citing data obtained by a FOIA. Lula visited a Yanomami health center in Boa Vista in Roraima state on Saturday following the publication of photos showing children and elderly men and women so thin their ribs were visible. In recent violent incidents, men on speed boats on the rivers have shot with automatic weapons at indigenous villages whose communities oppose the entry of gold miners. Lula said the new government will put an end to illegal gold mining as it moves to crack down on illegal deforestation in the Amazon, which surged to a 15-year high under Bolsonaro.

☆ Brazil and Argentina to begin preparations for common currency, Financial Times reports
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Brazil and Argentina will announce this week that they are starting preparatory work on a common currency, the Financial Times reported on Sunday. The plan, set to be discussed at a summit in Buenos Aires this week, will focus on how a new currency which Brazil suggests calling the "sur" (south) could boost regional trade and reduce reliance on the U.S. dollar, FT reported citing officials. . . a decision to start studying the parameters needed for a common currency, which includes everything from fiscal issues to the size of the economy and the role of central banks,” Argentina’s economy minister Sergio Massa told the Financial Times. Politicians from both countries have discussed the ideaalready in 2019, but met with pushback from Brazil's central bank at the time. Reporting by Jyoti Narayan in Bengaluru Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Lula replaces Brazil's army commander, source says
▼ + stars: | 2023-01-21 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +1 min

BRASILIA, Jan 21 (Reuters) - Brazilian President Luiz Inacio Lula da Silva fired the army commander, General Julio Cesar de Arruda, on Saturday, a source with knowledge of the matter said. His replacement will be General Tomas Miguel Ribeiro Paiva, army commander of the southeast, the source said. Brazil's army and the Ministry of Defense did not immediately comment on the matter. Lula said this week that intelligence services failed on Jan. 8, when government buildings in Brasilia were stormed by supporters of far-right former President Jair Bolsonaro. Lula has said recently that his government would purge hardcore Bolsonaro loyalists from the security forces.

☆ Brazil’s army chief fired in the aftermath of capital uprising
▼ + stars: | 2023-01-21 | by ( ) www.cnbc.com time to read: +3 min

Supporters of former President Jair Bolsonaro clash with security forces as they raid the National Congress in Brasilia, Brazil, 08 January 2023. President Luiz Inacio Lula da Silva fired Brazil's army chief Saturday just days after the leftist leader openly said that some military members allowed the Jan. 8 uprising in the capital by far-right protesters. The official website of the Brazilian armed forces said Gen. Julio Cesar de Arruda had been removed as head of the army. The video claimed Lula wasn't voted into office, but rather was chosen by the Supreme Court and Brazil's electoral authority. Lula has been trying to reduce the high number of military officers in the government administration left by Bolsonaro.

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