DIRS.INFO The most relevant business & tech news

☆ Lula decrees extension for tax exemption on fuels in Brazil
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Jan 1 (Reuters) - Brazil's newly sworn-in President Luiz Inacio Lula da Silva signed a decree on Sunday extending for 60 days an exemption for fuels from federal taxes, a measure passed by his predecessor aimed at lowering their cost. The decree was among the first batch of decisions taken by Lula hours after his inauguration as president, succeeding far-right President Jair Bolsonaro, and officially establishing his cabinet of 37 ministers. Prates said the exemption could be resumed by the new government in a "much more comfortable" way. He has said that one option under study was an extension for six months or until the end of the year for tax exemptions on diesel and liquefied petroleum gas. The extension for gasoline was opposed by sectors of the economy, such as the ethanol industry, which loses ground in its tax advantage over gasoline.

☆ Lula returns to office in a troubled, divided Brazil
▼ + stars: | 2023-01-01 | by ( Anthony Boadle | ) www.reuters.com time to read: +3 min

The ceremony in Congress begins at 3 p.m. (1800GMT), after which Lula will go the Planalto palace to don the presidential sash before a crowd of 30,000 supporters, while some 300,000 are expected to gather to celebrate on Brasilia's esplanade. Now, he faces the daunting challenge of improving Brazil's stagnant economy while also uniting a country that has become painfully polarized under Bolsonaro. His supporters have protested for two months that the election was stolen and called for a military coup to stop Lula returning to office in a climate of vandalism and violence. Organizers said delegations from 50 nations and 19 heads of state and governments, including the king of Spain, have confirmed their attendance. Reporting by Maria Carolina Marcello, Ricardo Brito, Lissandra Paraguassu and Anthony Boadle; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil acting president hits out at 'silent' Bolsonaro in New Year speech
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Dec 31 (Reuters) - Brazil's acting president, Hamilton Mourao, on Saturday criticized outgoing far-right leader Jair Bolsonaro for allowing anti-democratic sentiment to thrive in the wake of this year's election, in a veiled dig in a New Year speech. Vice president under Bolsonaro, Mourao delivered the New Year speech after taking over on Friday, when the outgoing president flew to Florida to avoid handing over the presidential sash to leftist President-elect Luiz Inacio Lula da Silva at his Jan. 1 inauguration. Bolsonaro's exit follows weeks of near silence following his defeat in Brazil's most fraught election in a generation. Mourao was elected in 2018 as Bolsonaro's running mate but was ditched in this year's election, with the outgoing president choosing former Chief of Staff Walter Braga Netto to join his defeated ticket. Mourao instead ran for Senate and secured a spot in the upper house of Congress representing the state of Rio Grande do Sul.

Jailed for graft in 2018 - the year right-wing former President Jair Bolsonaro was elected - Lula's convictions were overturned in 2019, allowing him to oust Bolsonaro in October's election. The more ideological Lula who emerged from jail in 2019 should not be a cause for concern, friends and allies said. Lula's spokesman Jose Chrispiniano said the president supported fiscal responsibility and believes that strengthening the economy is the best way to combat poverty. "Good morning, President Lula," his devotees would chant as the day began, followed by "Good night, President Lula," as he went to bed. From his 15-square-meter cell on the third floor of the Federal Police headquarters in Curitiba, Lula set about reorganizing the PT and managing his legal defense.

☆ Brazil’s Bolsonaro lands in Florida, avoiding handover of power to leftist Lula
▼ + stars: | 2022-12-31 | by ( ) www.nbcnews.com time to read: +3 min

Bolsonaro’s exit from Brazil came after he repeatedly said he would not hand over the presidential sash to Lula at Sunday’s inauguration, breaking with Brazil’s democratic tradition. He may also face legal risks from remaining in Brazil as his presidential immunity expires when Lula takes office. Vice President Hamilton Mourao is now acting president after Bolsonaro left the country, his press office said. Bolsonaro’s exit follows weeks of silence, after he lost Brazil’s most fraught election in a generation. Some of Bolsonaro’s supporters have refused to accept Lula’s victory, believing his baseless claims that the October election was stolen.

☆ Brazil's Lula calls for peace at meetings with Russia, Ukraine representatives
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 31 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva met on Saturday with representatives of Russia and Ukraine ahead of his inauguration and called for an end to the war between the two countries. Lula, who will be sworn in on Sunday, said on Twitter he had separately met with the speaker of Russia's Federation Council, Valentina Matvienko, and Ukrainian Vice Prime Minister Yulia Svyrydenko. The two were in Brazil to represent their countries at Lula's inauguration and met both him and his future foreign relations minister, Mauro Vieira, according to pictures shared by the leftist leader. Lula said he told Matvienko that Brazil wishes for "peace and for the parties to find common ground to end the conflict," which began when Moscow sent troops into Ukraine on Feb. 24. Reporting by Gabriel Araujo, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

But Jean Paul Prates, nominated on Friday to be chief executive, has been advocating for higher investments in renewables. "Petrobras is a company for the long run and cannot just keep exploring sub-salt oil and paying dividends," Prates said in a press conference this month. Prates, a senator for the past four years, will become the first politician to hold a high-ranking office at Petrobras in several years. Petrobras, Prates and the transition team's press officer did not immediately respond to requests for comment. Prates has defended higher Petrobras investments in the refining sector as a way to secure Brazil's fuel supply.

☆ Next Petrobras CEO says he will change company's fuel price policy
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Dec 30 (Reuters) - The incoming chief executive of Brazil's state-run oil company Petrobras (PETR4.SA) said on Friday he planned to tweak the country's fuel price policy, but said investors need not worry. Prates told journalists he will change the firm's pricing policy, which pegs fuel to global oil prices, but stressed that this does not mean prices will be completely unlinked to the international market. "Petrobras' pricing policy will be changed, but not necessarily to traumatize investors," he said. The company's pricing policy was at the center of turmoil during President Jair Bolsonaro's administration. Three of Petrobras' CEOs were ousted during his term, as fuel price hikes stoked inflation and hurt his popularity.

☆ Pelé remembered for transcending soccer around world
▼ + stars: | 2022-12-30 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Pelé was remembered for a life beyond the field, for transcending the sport of soccer and becoming perhaps the most well-known person on Earth. I would say that before Pelé soccer was just a sport. He is gone, but his magic will endure.”Pelé scored 12 goals in 14 World Cup matches and is the only three-time world champion, winning titles in 1958, 1962 and 1970. Throughout his life, Pelé inspired generations of athletes and deserves every tribute.”Ronaldo, who led Brazil to a fifth World Cup title in 2002, described Pelé as “Unique. Four years ago, Mbappé became only the second teenager — after Pelé — to score a goal in a World Cup final.

☆ Scholz, Macron may visit Brazil's Lula in early 2023, sources say
▼ + stars: | 2022-12-30 | by ( Lisandra Paraguassu | ) www.reuters.com time to read: +1 min

BRASILIA, Dec 30 (Reuters) - German Chancellor Olaf Scholz and French President Emmanuel Macron may visit Brazil's President-elect Luiz Inacio Lula da Silva in Brasilia in early 2023 after he takes office, two sources told Reuters. The French and German leaders may visit Lula in Brazil as soon as January, the two sources said, with exact dates still being negotiated. Scholz's office said it had no information about plans for such a trip, while the Elysee did not respond to a request for comment. Last year, even before he was formally a presidential candidate, Lula was welcomed by both Scholz and Macron in their countries. In addition to receiving counterparts in Brasilia, Lula is also planning trips of his own, including visits to the United States, China and Argentina early in his term.

☆ 6 climate wins from 2022 that are worth celebrating
▼ + stars: | 2022-12-30 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +8 min

Sweeping climate legislation passed, climate candidates won, and animals got important protections. Here are six of the year's highlights in climate progress, according to experts. But through it all, there was encouraging progress on climate that's worth celebrating. Peter B. de Menocal, president of the Woods Hole Oceanographic Institution, told Insider that the event featured the first-ever Ocean Pavilion. "I want to invite other Indigenous communities in Ecuador and the world to join these collective fights happening in Amazonia," Lucitante previously told Insider.

☆ Brazilian President-elect Luiz Inácio Lula da Silva Says He Will End Illegal Amazon Deforestation
▼ + stars: | 2022-12-29 | by ( John Otis | ) www.wsj.com time to read: +1 min

At a recent U.N. climate summit, Braziian President-elect Luiz Inácio Lula da Silva drew praise for his stated commitment to better protect the Amazon rainforest. MARAÃ, Brazil—Dismayed by illegal logging and fishing near his Amazon River village, Alzanir de Souza organized a flotilla of small boats so 200 relatives and neighbors could make the 18-hour voyage in October to the nearest town to vote in Brazil’s presidential election. Their support helped Luiz Inácio Lula da Silva , a left-wing former president who has said he would work to better protect the Amazon, defeat incumbent Jair Bolsonaro . Mr. Bolsonaro’s right-wing government had slashed funding and staffing at environmental agencies, environmentalists and employees of those agencies said, fueling a significant increase in deforestation. “We have put our faith in this new government,” said Mr. de Souza, who manages a fishing cooperative.

Among Thursday's highlights were Marina Silva for environment minister and Senator Simone Tebet as planning and budget minister. Lula gave them key positions after they provided crucial endorsements for his narrow Oct. 30 election victory over outgoing President Jair Bolsonaro. One of Brazil's best-known environmentalists, Silva previously held the same ministerial position for five years during Lula's first term as president, overseeing a significant drop in deforestation. "She played an extremely important role in the campaign," Lula said of Tebet, who will oversee Brazil's budget and set up a multiannual plan with goals for the administration. Lula, who had previously disclosed 21 of the future ministers, also tapped other moderate figures to his cabinet in order to secure support in Congress.

[1/5] Federal prison officers take position in front of federal police headquarters during an action by Federal Police and agents of the Civil Police of Brasilia, to serve arrests and seizure warrants issued by the Federal Supreme Court in Brasilia, Brazil, Brazil December 29, 2022. REUTERS/Adriano MachadoBRASILIA, Dec 29 (Reuters) - Brazilian police said they arrested four people and carried out nationwide raids on Thursday in investigations into an alleged coup attempt during riots by supporters of defeated far-right President Jair Bolsonaro. Brazilian authorities, led by the Supreme Court, have been cracking down on a small but committed minority of Bolsonaro supporters who refuse to acknowledge leftist President-elect Luiz Inacio Lula da Silva's election victory and are calling for a military coup. The federal police said on Thursday they were serving 32 search and arrest warrants in eight states under Supreme Court orders. Two arrest warrants were served in the northwestern state of Rondonia, one in Rio de Janeiro and one in Brasilia, Mazzotti said in a press conference.

☆ Top court bans guns from Brazil's capital ahead of Lula inauguration
▼ + stars: | 2022-12-28 | by ( ) www.nbcnews.com time to read: +2 min

Brazil’s Supreme Court on Wednesday banned registered gun-owners from carrying firearms in the federal district until after the inauguration of President-elect Luiz Inacio Lula da Silva, in reaction to recent episodes of political violence. Justice Alexandre de Moraes temporarily suspended licenses that permit hunters, marksmen and collectors to carry guns, firearms and ammunition in the region where the capital city of Brasilia is located. The measure will be in place from Wednesday evening to Jan. 2, the day after Lula’s inauguration, according to Moraes’ decision, which was reviewed by Reuters. Incoming Justice Minister Flavio Dino cheered the ruling, saying the move would ensure greater security at the inauguration. He said Lula’s team had requested the Supreme Court suspend firearm licenses.

Below are the events, trends and topics investors expect to shape the outlook for emerging markets next year. "The economic downturns along with the aggressive monetary tightening and geopolitical and commodity shocks that induce them will be temporarily painful in financial and emerging markets," said David Folkerts-Landau, group chief economist at Deutsche Bank. Globally, the war has transformed energy markets and inflation pressures, food security and geopolitical risk perception - factors that are often more keenly felt in emerging economies. "There's not actually a lot of debt maturing next year," said Carmen Altenkirch, emerging markets sovereign analyst at Aviva Investors. 6/ TURKEY ELECTIONSPresident Tayyip Erdogan could face the biggest political challenge of his two decades in power as Turks head to the ballot box in the most high-profile vote in emerging markets.

☆ '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.

☆ Brazil's top court bans guns from capital ahead of Lula inauguration
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Dec 28 (Reuters) - Brazil's Supreme Court on Wednesday banned registered gun-owners from carrying firearms in the federal district until after the inauguration of President-elect Luiz Inacio Lula da Silva, in reaction to recent episodes of political violence. Justice Alexandre de Moraes temporarily suspended licenses that permit hunters, marksmen and collectors to carry guns, firearms and ammunition in the region where the capital city of Brasilia is located. The measure will be in place from Wednesday evening to Jan. 2, the day after Lula's inauguration, according to Moraes' decision, which was reviewed by Reuters. On Dec. 12, the day Lula's victory was certified, some of the camp dwellers attacked the federal police headquarters in Brasilia. Incoming Justice Minister Flavio Dino cheered the ruling, saying the move would ensure greater security at the inauguration.

☆ Latam M&A expected to recover in 2023, IPOs may take longer
▼ + stars: | 2022-12-27 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +4 min

SAO PAULO, Dec 27 (Reuters) - After a sharp drop in Latin American deals in 2022, bankers expect a slow recovery next year, led by M&A. The volume of M&A deals in Latin America fell 35% this year, to $86 billion, according to Refinitiv data. Bankers predict M&A volumes will grow up to 20% in the region next year as Latin America becomes more relevant among emerging markets. Latin America has a great opportunity to increase its share among emerging markets, said Latam M&A co-head at Citigroup Nicolas Roca. Share offerings fell 61% in Latin America this year to $13.4 billion, according to Refinitiv data through December 26.

☆ Brazil police investigate suspected bomb threat ahead of inauguration
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +3 min

[1/8] A member of the security forces works following a suspected bomb threat in the city's hotel section, close to where President-elect Luiz Inacio Lula da Silva is staying before his Jan. 1 inauguration, according to the federal district's security department, in Brasilia, Brazil, December 27, 2022. REUTERS/Adriano MachadoBRASILIA, Dec 27 (Reuters) - Police in Brazil's capital, Brasilia, were investigating a suspected bomb threat in the city's hotel section, close to where President-elect Luiz Inacio Lula da Silva was staying before his Jan. 1 inauguration, the federal district's security department said on Tuesday. A Reuters witness said sirens and helicopters could be heard from the hotel where Lula was staying. Brasilia's military police said a backpack had been found and the bomb squad had been called out of precaution. Reporting by Ricardo Brito and Lisandra Paraguassu; Editing by Leslie Adler and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ Simone Tebet seen accepting Lula's offer of Brazil planning minister
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Dec 27 (Reuters) - Brazilian President-elect Luiz Inacio Lula da Silva has invited centrist Senator Simone Tebet to be his planning minister, a close Lula aide said on Tuesday, and she is expected to accept. Tebet backed Lula over far-right incumbent Jair Bolsonaro after ditching her own presidential bid when she failed to make the run-off. Her support was seen as crucial for leftist Lula's election, helping him secure moderate votes in the second round. The planning minister job was first offered to economist Andre Lara Resende, a member of Lula's transition team, but he declined. On Monday, incoming Finance Minister Fernando Haddad said there would be no problems working with Tebet, whom he called "very qualified" and "someone who knows how to work in a team."

☆ Brazil's record 2023 bond bill underscores rising debt burden
▼ + stars: | 2022-12-26 | by ( Marcela Ayres | ) www.reuters.com time to read: +2 min

Redemptions on the LFT bonds, which are linked to benchmark interest rates, will reach 464 billion reais ($89 billion) in 2023, with 178 billion reais due in March and 286 billion in September. Former Treasury Secretary Mansueto Almeida pointed to real interest rates - adjusted for inflation - of above 6% over the longer term. "If the next government doesn't present and clarify a new fiscal rule soon, we'll be left with this very high interest rate," said Mansueto, now chief economist at BTG Pactual. Otherwise, it will hurt private investment a lot and lead to a very worrying trajectory of public debt growth." Brazil's public debt is expected to close this year at around 74% of GDP, its lowest since 2018.

George Washington de Oliveira Sousa was arrested on Saturday, the day after police said they foiled his plot to set off an explosive device near the Brasilia airport. A 54-year-old gas station manager from the northern state of Para, Sousa told police that Bolsonaro's sowing of election doubts inspired his Dec. 12 journey to the capital. He added that he planned to share his weapons with other CAC-holders in the Brasilia camp. After the Dec. 12 attack, he said police and firemen near the camp told him they would not arrest any protesters for vandalism, as long as they did not attack cops. That same day, Sousa saw on the news that police had found the bomb near the airport.

☆ Brazil election-denier camps 'incubators of terrorism,' new minister says
▼ + stars: | 2022-12-25 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +2 min

"Yesterday's serious events in Brasilia prove that the so-called "patriotic" camps have become incubators for terrorists," tweeted Flavio Dino. In a later tweet, Dino said he would propose the creation of "special groups to combat terrorism and irresponsible weaponry. News of the bomb added a new dimension to post-election violence in Brazil, where tensions remain high after Brazil's most fraught election in a generation. The Brasilia camp, outside the army headquarters, has become one of the country's most extreme. Police also found assault-style rifles and other explosives at an apartment rented by the man in Brasilia.

Companies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, Dec 23 (Reuters) - Caio Paes de Andrade, the chief executive of Brazil's state-run oil firm Petrobras (PETR4.SA), has decided to resign before his term ends in April, but has not yet set a date for his departure, six sources told Reuters. Andrade's early exit would provide a pathway for leftist President-elect Luiz Inacio Lula da Silva to quickly install his own choice to lead the company. Lula, a leftist former president, takes office on Jan. 1. Prates has previously said the incoming government will not have an interventionist stance on Petrobras. Petrobras had previously said Andrade had accepted an invitation from future Sao Paulo state Governor Tarcisio Freitas to join his team.

Search resuls for: "Luiz Inacio Lula da Silva"

25 mentions found