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☆ Brazil set to join the influential OPEC+ oil producers' alliance
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira. The announcement was made during a postponed OPEC+ meeting to discuss oil output strategy over 2024, amid languishing prices weighed by fragile demand recovery in China, geopolitical risks and uncertainty over supplies from U.S.-sanctioned OPEC members Iran and Venezuela. In footage shared from the meeting, Silveira said that President Lula da Silva had approved his country's membership, starting next year. "I would like to conclude my words by informing you that the honorable President Lula confirmed our entry into the OPEC+ cooperation charter from January 2024," he said. "Brazil received an invitation to join OPEC+.

Persons: Luiz Inacio Lula da Silva, Alexandre Silveira, Silveira, Lula da Silva, Lula Organizations: Brazilian Energy, OPEC, Mines and Energy, United Arab Locations: Brazil, OPEC, China, U.S, Iran, Venezuela, Saudi Arabia, Russia, United Arab Emirates, Brasilia, Correction

☆ Brazil increases northern border military presence amid Venezuela-Guyana spat -ministry
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsBRASILIA, Nov 29 (Reuters) - Brazil "has intensified defensive actions" along its northern border as it monitors a territorial dispute between its neighbors, Guyana and Venezuela, the country's defense ministry said on Wednesday. Defensive actions have been intensified in the northern border region of the country, promoting a greater military presence," it said in a statement. Venezuela's claims on the Esequiba, which have been the source of a long-running territorial dispute, were reignited in recent years after Guyana's discovery of oil and gas near the maritime border. On Dec. 3, Venezuelans will vote in a referendum on "the rights" to the Esequiba. The Venezuelan communications ministry did not immediately respond to a request for comment on Brazil's actions.

Persons: Leonardo Fernandez Viloria, Ricardo Brito, Peter Frontini, Vivian Sequera, Gabriel Stargardter, Diane Craft, Sandra Maler Organizations: National Bolivarian Armed Forces, REUTERS, Rights, Ministry of Defense, Court of Justice, Thomson Locations: Venezuela, Esequiba, Guyana, Caracas, Rights BRASILIA, Brazil, Venezuelan

☆ Brazil Increases Northern Border Military Presence Amid Venezuela-Guyana Spat -Ministry
▼ + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BRASILIA (Reuters) - Brazil "has intensified defensive actions" along its northern border as it monitors a territorial dispute between its neighbors, Guyana and Venezuela, the country's defense ministry said on Wednesday. Defensive actions have been intensified in the northern border region of the country, promoting a greater military presence," it said in a statement. Venezuela's claims on the Esequiba, which have been the source of a long-running territorial dispute, were reignited in recent years after Guyana's discovery of oil and gas near the maritime border. The International Court of Justice (ICJ) is expected to rule on Friday on a request by Guyana that the referendum be called off. The Venezuelan communications ministry did not immediately respond to a request for comment on Brazil's actions.

Persons: Ricardo Brito, Peter Frontini, Vivian Sequera, Gabriel Stargardter, Diane Craft, Sandra Maler Organizations: Reuters, Ministry of Defense, Court of Justice Locations: BRASILIA, Brazil, Guyana, Venezuela, Venezuelan, Caracas

Musician Paul McCartney performs during his Got Back tour at SoFi Stadium in Inglewood, California, U.S., May 13, 2022. Tickets priced between 200 reais ($41) and 400 reais ($82), much lower than most of those for the tour, sold out in just a few minutes. Fans who managed to buy tickets received wristbands for the concert. Upon arrival, event organizers sealed up fans' mobile phones and cameras to prevent images being recorded. Reporting by Bernardo Caram; Writing by Steven Grattan; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul McCartney, Mario Anzuoni, McCartney, Amanda Cardoso, I'd, Bernardo Caram, Steven Grattan, Bill Berkrot Organizations: REUTERS, Rights, Cavern Club, Beatles, Clube, Choro, Thomson Locations: Inglewood , California, U.S, Rights BRASILIA, Liverpool, Brazil, Brasilia, Belo Horizonte, Sao Paulo, Curitiba, Rio de Janeiro

☆ Argentina's Milei invites Brazil's Lula to inauguration, travels to US
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +3 min

Last week Milei, who travels to the United States on Sunday, had already softened his tone with China's communist leadership, thanking President Xi Jinping for a letter congratulating him. "I hope that our mutual time as presidents will be a stage for fruitful work and the construction of ties that consolidate the role Argentina and Brazil can and must fulfill in the concert of nations," Milei told Lula. The letter was delivered by his top foreign policy adviser, Diana Mondino, to Brazil's Foreign Relations Minister Mauro Vieira at a meeting in Brasilia. The new Argentine leader is closer politically and personally to former Brazilian President Jair Bolsonaro and has invited him to his inauguration. Milei meanwhile was set to travel to the U.S. on Sunday, a spokesperson told Reuters, noting he would attend a religious ceremony in New York and have meetings in Washington.

Persons: Javier Milei, Brazil's, Luiz Inacio Lula da Silva, Milei, Lula, Xi Jinping, Diana Mondino, Mauro Vieira, Jair Bolsonaro, Bolsonaro, Mondino, Vieira, Karina, Kristalina Georgieva, Gabriel Araujo, Lisandra, Jorge Otaola, David Gregorio, Stephen Coates Organizations: SAO PAULO, Foreign, Argentine, White, U.S . Treasury, International Monetary Fund, dollarizing, IMF, Thomson Locations: BRASILIA, BUENOS AIRES, Argentine, Brazil, United States, China, Argentina, Brasilia, Mercosur, New York, Washington, dollarizing Argentina, U.S, Sao Paulo, Buenos Aires

☆ Brazil highlights poverty, climate change as G20 priorities
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

Brazil takes over the G20 presidency from India on Dec.1 and will hold the 2024 summit in Rio de Janeiro in November next year. "It is not possible for the Bretton Woods institutions, World Bank, IMF, and many other financial institutions to continue functioning as if nothing were happening in the world, as if everything had been resolved," he said. He complained the institutions often lend money to countries to pay off their debt, without any meaningful change. G20 foreign ministers will meet in Rio de Janeiro on Feb. 21-22 and finance ministers will gather in Sao Paulo over Feb. 28-29. Indian Prime Minister Narendra Modi hosted a virtual summit of G20 nations on Wednesday to review progress on policy goals set at the annual G20 summit in New Delhi in September.

Persons: Luiz Inacio Lula da Silva, Ueslei Marcelino, Lula, Narendra Modi, Lisandra Paraguassu, Deepa Babington Organizations: Central Bank, REUTERS, Rights, United Nations, World Bank, International Monetary Fund, Security, Bretton Woods, IMF, Indian, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, India, Rio de Janeiro, United, Sao Paulo, New Delhi

☆ Brazil Senate Votes to Limit Decisions by Supreme Court Justices
▼ + stars: | 2023-11-22 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Anthony BoadleBRASILIA (Reuters) - Brazil's Senate took the lead on Wednesday to curb what lawmakers see as judicial overreach by the country's Supreme Court and passed a constitutional amendment that limits the ability of justices to rule on issues individually. The bill passed by a wide margin of 52-18 votes in two rounds of voting required for constitutional amendments. Lawmakers have accused the Supreme Court of usurping the legislative function of Congress with rulings on social issues such as the court's decision to facilitate gay marriage. Proposals in Congress include limiting the years justices can sit on the Supreme Court and an amendment that would allow lawmakers to undo court decisions they view as unconstitutional. "Attacking the Supreme Court, changing the way ministers are appointed, shortening their tenure in office, interfering with their internal functioning are political options that are not good for democracy," he told local media.

Persons: Anthony Boadle BRASILIA, Jair Bolsonaro, Oriovisto Guimaraes, Roberto Barroso, Anthony Boadle, Sonali Paul Organizations: Reuters, Brazil's Senate, Supreme

BRASILIA, Nov 22 (Reuters) - Brazil's Senate took the lead on Wednesday to curb what lawmakers see as judicial overreach by the country's Supreme Court and passed a constitutional amendment that limits the ability of justices to rule on issues individually. The bill passed by a wide margin of 52-18 votes in two rounds of voting required for constitutional amendments. Lawmakers have accused the Supreme Court of usurping the legislative function of Congress with rulings on social issues such as the court's decision to facilitate gay marriage. Proposals in Congress include limiting the years justices can sit on the Supreme Court and an amendment that would allow lawmakers to undo court decisions they view as unconstitutional. "Attacking the Supreme Court, changing the way ministers are appointed, shortening their tenure in office, interfering with their internal functioning are political options that are not good for democracy," he told local media.

Persons: Jair Bolsonaro, Oriovisto Guimaraes, Roberto Barroso, Anthony Boadle, Sonali Paul Organizations: Brazil's Senate, Supreme, Thomson Locations: BRASILIA

☆ Petrobras CEO replacement being discussed within Brazil gov't, sources say
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

President Luiz Inacio Lula da Silva has shown dissatisfaction with certain actions taken by CEO Jean Paul Prates. Lula asked the CEO to tweak Petrobras' investment plan to prioritize local job creation, Reuters reported last week. "There should be changes" in the presidency of Petrobras, one of the sources said. Last week, Mines and Energy Minister Alexandre Silveira said it was past time for Petrobras to reduce diesel and gasoline prices at its refineries. Reporting by Sabrina Valle and Lisandra Paraguassu; Writing by Peter Frontini; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Jean Paul Prates, Lula, Prates, Alexandre Silveira, Sabrina Valle, Lisandra, Peter Frontini, David Gregorio Our Organizations: Petroleo Brasileiro SA Petrobras, HOUSTON, Petrobras, PETR4, Reuters, Mines, Energy, Thomson Locations: BRASILIA

☆ Brazil's Lula wishes luck and success to new Argentine president
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Nov 19 (Reuters) - Brazilian President Luiz Inacio Lula da Silva extended best wishes to the newly elected government in Argentina, without making direct mention of President-elect Javier Milei, who has previously criticized Lula and labeled him an "angry communist." Brazil will always be available to work together with our Argentine brothers," he wrote on Sunday on X, formerly Twitter. On Tuesday, leftist Lula had said that Argentina, the country's third-largest trading partner, should choose a president who supports democracy and the Mercosur trading bloc. He has also criticized the South American common market Mercosur and said Argentina would "follow its own path." He met with Brazilian Finance Minister Fernando Haddad in Brasilia earlier this year to discuss mechanisms to secure imports by Buenos Aires.

Persons: Luiz Inacio Lula da Silva, Javier Milei, Lula, Argentine, Sergio Massa, Fernando Haddad, Haddad, Marcela Ayres, Lisa Shumaker, Rosalba O'Brien Organizations: Twitter, Mercosur, Economy, Brazilian Finance, Reuters, Thomson Locations: BRASILIA, Argentina, Brazil, Argentine, Mercosur, Brasilia, Buenos Aires

☆ Brazil's Lula Wishes Luck and Success to New Argentine President
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BRASILIA (Reuters) - Brazilian President Luiz Inacio Lula da Silva extended best wishes to the newly elected government in Argentina, without making direct mention of President-elect Javier Milei, who has previously criticized Lula and labeled him an "angry communist." Brazil will always be available to work together with our Argentine brothers," he wrote on Sunday on X, formerly Twitter. On Tuesday, leftist Lula had said that Argentina, the country's third-largest trading partner, should choose a president who supports democracy and the Mercosur trading bloc. He has also criticized the South American common market Mercosur and said Argentina would "follow its own path." He met with Brazilian Finance Minister Fernando Haddad in Brasilia earlier this year to discuss mechanisms to secure imports by Buenos Aires.

Persons: Luiz Inacio Lula da Silva, Javier Milei, Lula, Argentine, Sergio Massa, Fernando Haddad, Haddad, Marcela Ayres, Lisa Shumaker, Rosalba O'Brien Organizations: Reuters, Twitter, Mercosur, Economy, Brazilian Finance Locations: BRASILIA, Argentina, Brazil, Argentine, Mercosur, Brasilia, Buenos Aires

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. Lula told Prates that Petrobras should commission 25 ships to be built in Brazilian shipyards, instead of the four currently planned. When asked for comment, Petrobras referred Reuters to a Nov. 8 statement, in which it said it is still finalizing its investment plan. Last week, Reuters reported that Petrobras' plan will include around $100 billion in investments that the firm is both analyzing and those it has already committed to. In the previous 2023-2027 plan, Petrobras projected $78 billion in investments.

Persons: Sergio Moraes, Luiz Inacio Lula da Silva, Jean Paul Prates, Prates, Lula, Brazil's, Sabrina Valle, Lisandra Paraguassu, Rodrigo Viga Gaier, Marta Nogueira, Fabio Teixeira, Roberto Samora, Gabriel Stargardter, Marguerita Choy Organizations: REUTERS, HOUSTON, RIO DE, Petrobras, PETR4, Reuters, Thomson Locations: Rio de Janeiro, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Brasilia, Mato Grosso, Sul, Petrobras

☆ Brazil's economy enters negative territory in Q3, shows central bank data
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Nov 17 (Reuters) - The Brazilian economy ended the third quarter in negative territory, central bank data showed on Friday, reversing a performance that had been surprisingly positive due to a booming farming sector. The IBC-Br index, a key predictor of gross domestic product (GDP), posted a seasonally adjusted 0.64% decline in the third quarter. The Finance Ministry last estimated a 3.2% gross domestic product (GDP) growth for this year after a robust first-half performance, a figure expected to be revised next week. Meanwhile, private economists surveyed weekly by the central bank project a 2.89% increase in GDP for this year. The September IBC-Br index was in line with a negative performance of the service sector, which accounts for roughly 70% of the country's activity, said Nova Futura economist Nicolas Borsoi.

Persons: Fernando Haddad, Nicolas Borsoi, Luiz Inacio Lula da Silva's, Marcela Ayres, Steven Grattan Organizations: IBC, Reuters, Finance, Finance Ministry, Nova Futura, Thomson Locations: BRASILIA, Brazilian

☆ Fires in Brazil's Pantanal wetland surge to November record on lack of rain
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows burnt trees near a river in The Pantanal, the world's largest wetland, in Pocone, Mato Grosso state, Brazil, August 28, 2020. The 2,387 fires recorded by Inpe in early November is already more than double October's figure and more than half of the total fires seen this year so far. Fires have more than tripled in the Pantanal compared with 2022, which was mild compared with the two previous years. Weather experts point to the El Nino phenomenon, aggravated by climate change, as being behind the sharp increase in fires. "There was sporadic rainfall at the end of October, but two or three days after it stopped, the fires came back," he added.

Persons: Amanda Perobelli, Inpe, El, Vinicius Silgueiro, Silgueiro, Lisandra Paraguassu, Gerry Doyle Organizations: REUTERS, Rights, Centro de Vida Institute, El Nino, Thomson Locations: Pocone, Mato Grosso, Brazil, Rights BRASILIA, Brazil's Pantanal

☆ Brazil's Lula welcomes citizens rescued from Gaza, condemns 'inhumane violence'
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

Lula greeted passengers with hugs and kisses after their arrival late on Monday evening, offering his support to Brazilians still in or arriving from the Gaza Strip and condemning the killing of civilians in Gaza. "I have never seen such brutal, inhumane violence against innocent people," Lula said in a short speech on the tarmac. The Gaza Strip has been under bombardment by Israel, which aims to annihilate Hamas, the militant group which runs the Gaza Strip and which attacked Israel from Gaza on Oct. 7, killing around 1,200 people. Gaza medical authorities say more than 11,000 people there have been confirmed killed, with about 40% of them being children. Lula echoed earlier criticisms of both Hamas for its attack against Israel and Israel for its reaction.

Persons: Luiz Inacio Lula da Silva, Lula, Peter Siqueira, Gabriel Araujo, Kylie Madry, Brendan O'Boyle, Raju Gopalakrishnan Organizations: SAO PAULO, Monday, Brasilia Air Base, Embraer, Gaza, South American, West Bank, Thomson Locations: Gaza, Rafah, Egypt, Cairo, Brazil, Las Palmas, Spain, Israel

☆ Brazil's Lula Welcomes Citizens Rescued From Gaza, Condemns 'Inhumane Violence'
▼ + stars: | 2023-11-13 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

Persons: Luiz Inacio Lula da Silva, Lula, Peter Siqueira, Gabriel Araujo, Kylie Madry, Brendan O'Boyle, Raju Gopalakrishnan Organizations: SAO PAULO, Reuters, Monday, Brasilia Air Base, Embraer, Gaza, South American, West Bank Locations: Gaza, Rafah, Egypt, Cairo, Brazil, Las Palmas, Spain, Israel

☆ Brazil Aims to Expand Rail System With Funds From Prior Contracts
▼ + stars: | 2023-11-13 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Lisandra ParaguassuBRASILIA (Reuters) - Brazil plans to expand its railway network with a 40 billion reais ($8 billion) fund that will be financed by removing discounts given to rail companies by previous government contracts, Transport Minister Renan Filho told Reuters. The Federal Audit Court is now reviewing those extensions after the government of President Lula da Silva disputed the discounts. "We think that some procedures adopted in the contracts are unacceptable," Filho said in an interview on Friday. According to the government, the companies owe an additional 40 billion reais ($8.1 billion) in unpaid concession payments. The government's goal is to have 40% of Brazil's freight, which is mostly iron ore, transported by rail, up from 17% today.

Persons: Renan Filho, Jair Bolsonaro, Lula da Silva, Filho, Rumo, São Paulo, Vale, Lisandra Paraguasu, Anthony Boadle, Emelia Sithole, Aurora Ellis Organizations: Reuters, Transport, Federal Audit Court, Vale, Rumo, TCU Locations: Paraguassu BRASILIA, Brazil, Carajas, Vitoria, Espirito Santo, São

☆ Trapped Brazilians, whose fate hurt Israel-Brazil ties, leave Gaza
▼ + stars: | 2023-11-12 | by ( Camila Moreira | ) www.reuters.com time to read: +2 min

The Brazilians are due back in Brazil late on Monday evening, the ministry said, and are expected to meet with President Luiz Inacio Lula da Silva. The Palestinian enclave has been under bombardment by Israel, which aims to destroy Hamas militants who attacked Israel from Gaza on Oct. 7. The slow pace of release of the trapped Brazilians increased friction between Brazil and Israel, which erupted last week after Israeli spy agency Mossad said it helped foil a Hezbollah attack in Brazil. An appearance by Israel's ambassador to Brazil with former President Jair Bolsonaro, a staunch Israel ally and longtime Lula political foe, also irked Brazilian officials. Reporting by Camila Moreira; Writing by Gabriel Stargardter; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Jair Bolsonaro, Lula, Camila Moreira, Gabriel Stargardter, Grant McCool Organizations: Hamas, Maxar Technologies, REUTERS Acquire, SAO PAULO, Thomson Locations: Rafah, Gaza, Egypt, Israel, Palestinian, Brasilia, Cairo, Brazil

☆ Brazil minister angered by Israeli statement on foiled Hezbollah attack
▼ + stars: | 2023-11-09 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +2 min

Brazil's Minister of Justice Flavio Dino gestures during a press conference at the Planalto Palace in Brasilia, Brazil, November 1, 2023. Dino was responding to a highly unusual statement published on Wednesday in which Israel's Mossad agency thanked Brazilian police and said that, "given the backdrop of the war in Gaza", Hezbollah was continuing to attack Israeli, Jewish and Western targets. Without explicitly naming Israel, Dino said on X, formerly known as Twitter, that "Brazil is a sovereign country," and "no foreign force orders around the Brazilian Federal Police." He did not explicitly deny any of the details in the Israeli statement, but seemed more angered by its timing, tone and the link it drew to the current war in Gaza. Dino's comments may chill relations with the Israeli government as Brazil tries to negotiate a safe exit for around 30 Brazilians still stuck in Gaza.

Persons: Flavio Dino, Adriano Machado, Dino, Israel, Luiz Inacio Lula da Silva, Gabriel Stargardter, Maytaal Angel, Andrew Heavens Organizations: REUTERS, DE, Brazilian, Brazil's Federal Police, Brazilian Federal Police, Thomson Locations: Brasilia, Brazil, DE JANEIRO, Israel, Gaza, Bolivia, Colombia, Chile, Iran, Lebanon

"The revenue service is already organizing the implementation of this minimum taxation on multinationals," she said in an interview on Wednesday. The revenue service did not immediately respond to a request for comment. It advocates that this mechanism will ensure that large multinational companies pay a minimum 15% tax on their profits in all jurisdictions where they operate to deter profit-shifting to tax-favorable locations. The OECD estimates that the global minimum tax, already under way in countries including South Korea and Japan, could generate up to $200 billion in additional annual revenue. She also said Brazil aims to go further in the global tax discussion to reduce differences between advanced and emerging economies and to promote the green agenda.

Persons: India Narendra Modi, Luiz Inacio Lula da Silva, Joe Biden, Rishi Sunak, Kenny Holston, Tatiana Rosito, Maria Carolina Sampaio, GVM, Rosito, Marcela Ayres, Bernardo Caram, Matthew Lewis Organizations: U.S, UK, Rights, Finance, Reuters, Organization, Economic Cooperation, Development, OECD, International Monetary Fund, Thomson Locations: India, Brazil, New Delhi, Rights BRASILIA, South Korea, Japan, United States, Rosito, Brasilia

Brazil's Federal Police said in a statement they arrested two people, who they did not name, on terrorism charges in Sao Paulo. They also carried out search and seizure warrants in Sao Paulo, Brasilia and Minas Gerais states. Mossad thanked Brazilian security services for their role in helping to thwart the attack. Mossad said the "terrorist cell ... was operated by Hezbollah in order to carry out an attack on Israeli and Jewish targets in Brazil." Since the Oct. 7 attack, Hezbollah has been engaging Israeli forces along the border, in the deadliest escalation since it fought a war with Israel in 2006.

Persons: Benjamin Netanyahu's, Ricardo Berkiensztat, Jair Bolsonaro, Rodrigo Viga Gaier, Gabriel Stargardter, Steven Grattan, Lisandra, James Mackenzie, Lisa Shumaker Organizations: RIO DE, Hezbollah, Brazil's Federal Police, Islamic State, U.S . FBI, U.S . Treasury, Triple, Federal Police, Reuters, Jewish Federation of, State of, Iran's, Guards, Thomson Locations: RIO DE JANEIRO, Brazil, Iran, Sao Paulo, Brasilia, Minas Gerais, Lebanon, al Qaeda, Argentina, Paraguay, Israel, Gaza, State, State of Sao Paulo, Britain, Canada, Germany, Honduras, United States, U.S, Gulf, Jerusalem

☆ Nissan to invest $575 mln in Brazil plant by 2025
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

A Nissan logo is seen next to a vehicle during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsRIO DE JANEIRO, Nov 7 (Reuters) - Japanese carmaker Nissan (7201.T) will invest 2.8 billion reais ($575.22 million) between 2023 and 2025 in its Resende plant in Brazil to produce two new SUV models, global CEO Makoto Uchida said on Tuesday. According to Uchida, the new generation of the Nissan Kicks will be one of the vehicles manufactured in Resende, which he said will become a hub for exports to other Latin American countries. The announcement comes a day after Uchida met with President Luiz Inacio Lula da Silva in Brasilia. ($1 = 4.8677 reais)Reporting by Rodrigo Viga Gaier; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: David, Dee, Delgado, Makoto Uchida, Uchida, Luiz Inacio Lula da Silva, Rodrigo Viga Gaier, Steven Grattan Organizations: New York, REUTERS, DE, Nissan, Thomson Locations: Manhattan , New York City, U.S, DE JANEIRO, Brazil, Resende, Brasilia

[1/6] A man works on a pole to restore electricity after a storm knocked down power cables in Sao Paulo, Brazil November 6, 2023. REUTERS/Carla Carniel Acquire Licensing RightsSAO PAULO, Nov 6 (Reuters) - Half a million residents of Sao Paulo remained without electricity on Monday three days after a storm knocked down power cables, leaving much of Brazil's largest city in the dark. The storm snapped branches and knocked down hundreds of trees that fell on overhead power lines in many streets of the city, initially cutting off 2.1 million customers in Metropolitan Sao Paulo, energy distribution company ENEL said. But what is shocking is that year after year there is not enough investment in burying the power cables. Reporting by Camila Moreira, Alberto Alerigi and Leticia Fucuchima in Sao Paulo; Anthony Boadle in Brasilia; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carla Carniel, Sao Paulo, ENEL, Denilson Laurindo, Thiago Gonzalez, Gonzalez, Flavio Dino, Alexandre Vieira Monteiro, Camila Moreira, Alberto Alerigi, Leticia Fucuchima, Anthony Boadle, Jonathan Oatis Organizations: REUTERS, SAO PAULO, Metropolitan Sao Paulo, Sao Paulo, Friday, Brazil's, Thomson Locations: Sao Paulo, Brazil, Sao, Brazil's, Metropolitan Sao, Morumbi, Brasilia

☆ Uruguay government members resign over passport scandal probe
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

Uruguay's President Luis Lacalle Pou reacts as he leaves the South American Summit at Itamaraty Palace in Brasilia, Brazil May 30, 2023. Interior Minister Luis Alberto Heber, a cabinet undersecretary and a chief adviser to President Luis Lacalle Pou will no longer be in the coalition government from Monday, the president announced on Saturday evening. Bustillo on Friday denied any wrongdoing, saying he did not know who Marset was at the time the passport was issued. The president, who returned on Saturday from meeting with U.S. President Joe Biden, said the passport should have been issued to Marset in accordance with Uruguay's laws. Of course not," Lacalle Pou told a press conference in his first public comments about the scandal.

Persons: Luis Lacalle Pou, Ueslei Marcelino, Luis Alberto Heber, Uruguay's, Sebastian Marset, Marset, Francisco Bustillo, Bustillo, Joe Biden, Lacalle Pou, Sarah Kinosian, Mayela Armas, William Mallard Organizations: South American, REUTERS, United Arab Emirates, U.S, Thomson Locations: Itamaraty, Brasilia, Brazil, Uruguayan, Uruguay, Paraguay, United States, Heber, Bustillo

☆ Brazil cenbank cuts rates, with more likely to come, but flags 'adverse' backdrop
▼ + stars: | 2023-11-01 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

The bank's rate-setting committee, known as Copom, unanimously reduced its Selic benchmark interest rate to 12.25%, a move expected by all 40 economists polled by Reuters. However, despite its expectation of keeping its pace of rate cuts, the bank mentioned an "adverse" global outlook that "requires caution on the conduct of monetary policy." The prospect of higher long-term U.S. interest rates has led to a tightening of global liquidity and strengthening of the dollar, adding to inflation pressures in emerging markets like Brazil. In its statement, the central bank also highlighted the persistence of elevated core inflation in several countries, alongside emerging geopolitical tensions following the outbreak of the Israel-Palestine conflict. The inflation target for the upcoming year and beyond stands at 3%, with the same tolerance interval.

Persons: Daniel Cunha, Luiz Inacio Lula da, Lula, Marcela Ayres, Diane Craft Organizations: Reuters, Thomson Locations: BRASILIA, Brazil, Israel, Palestine

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