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☆ 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

☆ Argentina election: Will Milei’s plan to ditch peso for the dollar be a vote-winner against Massa?
▼ + stars: | 2023-11-16 | by ( Analysis Stefano Pozzebon | ) edition.cnn.com time to read: +8 min

To fix the problem, Argentina should abandon the peso and adopt the dollar, whose value is set by the US Federal Reserve and cannot be printed at will. Massa has criticized the plan for dollarization as a surrender of national sovereignty and attempted to show that the government’s current actions are already paying dividends. Other mainstream politicians, including former the President Mauricio Macri and another former election candidate, Patricia Bullrich, have endorsed Milei despite sharing some reservations on dollarization. ET) and the vote count is expected to be quick – barring any unforeseen problems or objections, that is. Milei appeared to question the results of the first round of voting in October, although his party did not formally appeal.

Persons: Argentina’s, Sergio Massa, Javier Milei, Milei, Massa, dollarization, Pope Francis, “, Satan ”, Francis, Tucker Carlson, Milton Friedman, Argentinians, Mauricio Macri, Patricia Bullrich, Brazil’s Luiz Inácio Lula da Silva, Colombia’s Gustavo Petro, Spain’s José Luis Rodriguez Zapatero, Jair Bolsonaro, Mario Vargas Llosa, Mariano Rajoy, Donald Trump Organizations: CNN, Massa, Union por la Patria, Union, La Libertad, US Federal Reserve, Cato Institute Locations: Buenos Aires, Argentina, South America, Latin America, Ecuador, El Salvador, US, Argentina’s, Peruvian, Spanish

More than 1,200 people in Israel died, most of them in the Hamas attack, and about 240 hostages were taken from Israel into Gaza by Palestinian militants. The army said Tuesday that it has captured Gaza’s legislature building, the Hamas police headquarters and a compound housing Hamas’ military intelligence headquarters. Israeli news sites showed pictures of Israeli soldiers hoisting the Israeli national flag and military flags in some of the buildings. The Israeli military did not give a reason for her death, while Hamas said she was killed in an Israeli strike. On Nov. 5, the Israeli military struck a car on the road between the southern Lebanese towns of Ainata and Aitaroun.

Persons: —, Gilad, Luiz Inácio Lula da Silva, Lula, ” Lula, “, Lynn Gottlieb, KNTV, WASHINGTON, Janet Yellen, Shelly Shem Tov, Omer Shem Tov, Benjamin Netanyahu, JERUSALEM — Vivian Silver, Silver, Yonatan Zeigen, ” Zeigen, Noa Marciano, Marciano, ”, Israel, Iqbal Abu Saud, Ramzi Kaiss, Israel’s, KFAR, Ayelet, David Kachko Kazir, Aftonbladet Organizations: Palestinian, Hamas, Health Ministry, “, FIRE, Jewish, Peace, Berkeley, Consulate, Grand, Station, New York, Islamic, Treasury Department, TEL, JERUSALEM TEL, Israel, JERUSALEM, Israel Radio, Rights Watch, Israel — Residents, DR Locations: Gaza, Israel, Gaza City, Palestinian, Gaza's, Detroit, israel, ISRAEL, GAZA, JERUSALEM, DE JANEIRO, Brazil, “, CALIFORNIA, FIRE OAKLAND, California —, Oakland , California, Chicago, New York, United States, Islamic Jihad, Iran, Lebanese, United Kingdom, U.S, TEL AVIV, JERUSALEM TEL AVIV, Tel Aviv, Jerusalem, Canadian, BEIRUT, Lebanon, Ainata, Rights Watch Lebanon, KFAR AZA, Israel —, Kfar Aza, SWEDEN, DENMARK, COPENHAGEN, Denmark, Sweden, Danish, Egypt

☆ 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

☆ 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

☆ Amazon deforestation falls more than 20% to its lowest levels in 5 years
▼ + stars: | 2023-11-10 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

The Amazon jungle is the world’s largest rainforest and its protection is seen as vital to curbing climate change. “It’s an impressive result and seals Brazil’s return to the climate agenda,” said Marcio Astrini, head of advocacy group Climate Observatory. Still, this year’s deforestation rate remains nearly twice that of the all-time low in forest destruction in 2012 and far from Lula’s pledge to reach zero deforestation by 2030. Under the right-wing former president, destruction at the hands of ranchers, land speculators and miners surged to a 15 year high. The official annual period is measured from August to July as there is less cloud cover in the middle of the year to obscure deforestation on satellite images.

Persons: Luiz Inacio Lula da Silva, Jair Bolsonaro, Bolsonaro, ”, Marcio Astrini, Lula Organizations: CNN

☆ 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

☆ China has a sweeping vision to reshape the world — and countries are listening
▼ + stars: | 2023-11-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +23 min

All this coincides with longstanding calls from countries across the developing world for an international system where they have more say. Beijing, he added, sees the US as merely “paying lip service” to the “liberal order” to hurt other countries. Sergei Savostyanov/Sputnik/ReutersIn recent years, even some countries that have for decades embraced a close partnership with the US have drawn closer to China and its vision. “Is China really trying to promote multipolarity — or does China just want to (become a) substitute (for) US influence over the world?” he asked. They also raise questions about how a more militarily and economically powerful China would behave globally, if left unchecked.

Persons: Xi Jinping, —, Xi, Vladimir Putin, General Antonio Guterres, ” Xi, , Shen Hong, they’d, ”, Yun Sun, liberalize, Sanjit Das, Shen Dingli, ‘, ’ ”, Russia’s Putin, Bashar al, Assad —, Assad’s, Sergei Savostyanov, Ali Sarwar Naqvi, “ We’ve, James Marape, ’, Rubens Duarte, Li Zhiquan, “, Tong Zhao, Zhao, Ted Aljibe, Luiz Inácio Lula da Silva, Zhang Youxia, Beijing’s, Gilberto Teodoro Jr, BRICS, Weeks, Joe Biden, Sergio Lima, ” — Organizations: Hong Kong CNN, United Nations, Forum, China, Communist, CNN, Beijing, Washington, Getty, Stimson, Bank, World Trade Organization, . Riot, Bloomberg, Initiative, Asian, Global, Sputnik, Reuters, Center for International Strategic Studies, Papua New Guinea, multipolarity, China News Service, Carnegie Endowment, International Peace, Global Security Initiative, NATO, Russia, Philippine Defense, Shanghai Cooperation Organization, United, New, Seven, Ministry, Global Security, Group, UN, Communist Party Locations: China, Hong Kong, Beijing, United States, Ukraine, Gaza, Russian, Xinhua, Washington, South, Taiwan, Tibet, Xinjiang, America, Shanghai, West, Hangzhou, Israel, Pakistan, Pakistani, Islamabad, Papua New, Brazil, Indonesia, Europe, Asia, Scarborough, South China, AFP, Moscow, Russia, “, Saudi Arabia, Iran, Palestine, India, South Africa, Argentina, Egypt, Ethiopia, United Arab Emirates, New Delhi, Southeast Asia, Latin America, Caribbean, ” Beijing

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

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

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

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

A general view shows the water conditions in the Piraiba river before a summit of Amazon rainforest nations, in Belem, Para state, Brazil August 5, 2023. The Amazon jungle is the world's largest rainforest and its protection is seen as vital to curbing climate change. "It's an impressive result and seals Brazil's return to the climate agenda," said Marcio Astrini, head of advocacy group Climate Observatory. Under the right-wing former president, destruction at the hands of ranchers, land speculators and miners surged to a 15 year high. The official annual period is measured from August to July as there is less cloud cover in the middle of the year to obscure deforestation on satellite images.

Persons: Ueslei Marcelino, Luiz Inacio Lula da Silva, Jair Bolsonaro, Bolsonaro, Marcio Astrini, Lula, Peter Frontini, Jake Spring, Kylie Madry, David Gregorio Our Organizations: REUTERS, SAO PAULO, Thomson Locations: Belem , Para, Brazil

☆ 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

☆ 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

☆ Lula militarizes Brazil's main ports, airports amid rising crime
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Lula said soldiers will work with federal police officers to manage security operations at Latin America's largest port and airport: the port of Santos, in Sao Paulo, and its main airport Guarulhos. Soldiers will also be deployed to the port of Itaguai in Rio de Janeiro state and Rio's Galeao airport. Those ports and airports are key logistical hubs for booming cocaine exports to Europe, while also receiving contraband like high-caliber weapons that contribute to street violence. "The situation in Rio de Janeiro has reached a very serious point," Lula said at a ceremony after singing the decree. Then, last week, militias set fire to dozens of Rio buses after police killed one of their bosses in an operation.

Persons: Luiz Inacio Lula da Silva, Lula, Lisandra Paraguassu, Mark Porter, Josie Kao Organizations: Wednesday, Thomson Locations: BRASILIA, Rio de Janeiro, Santos, Sao Paulo, Itaguai, Rio's Galeao, Europe, Rio

☆ Bolivia severs ties with Israel, others recall envoys over Gaza
▼ + stars: | 2023-10-31 | by ( Daniel Ramos | ) www.reuters.com time to read: +3 min

[1/2] Palestinians conduct search and rescue operations at the site of Israeli strikes on a residential building, in the central Gaza Strip October 31, 2023. The three South American nations lambasted Israel's attacks on Gaza and condemned the deaths of Palestinian citizens. "What we have now is the insanity of Israel's prime minister, who wants to wipe out the Gaza Strip," said Brazilian President Luiz Inacio Lula da Silva on Friday. Bolivia cut diplomatic ties with Israel in 2009 under the government of leftist President Evo Morales, also in protest against Israel's actions in Gaza. Gaza health authorities say that 8,525 people, including 3,542 children, have been killed in Israeli attacks since Oct. 7.

Persons: Ahmed Zakot, LA, Freddy Mamani, Israel, Gustavo Petro, Luiz Inacio Lula da Silva, Evo Morales, Jeanine Anez, Arce, U.N, Daniel Ramos, Gabriel Araujo, Lucinda Elliott, Oliver Griffin, Peter Frontini, Brendan O'Boyle, Kylie Madry, Rosalba O'Brien, Stephen Coates Organizations: REUTERS, LA PAZ, Israel, Bolivian, Thomson Locations: Gaza, Bolivia, Israel, Colombia, Chile, Mexico, Brazil, Palestinian, Iran

☆ Brazilian Lawmakers Advance Country’s Regulated Carbon Market
▼ + stars: | 2023-10-26 | by ( Paulo Trevisani | Luciana Magalhaes | ) www.wsj.com time to read: +5 min

A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.

Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, ”, Marcio Astrini, Tereza Cristina —, —, Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com

BRASILIA, Oct 26 (Reuters) - Brazil's Finance Ministry is preparing a decree that nearly doubles the tax on the sale of firearms and ammunition, arguing that the measure is necessary to boost revenue and reduce crime, according to a draft document seen by Reuters. Prepared by the revenue service at the request of Finance Minister Fernando Haddad, the decree raises the industrial tax on revolvers, pistols, shotguns, carbines, pepper spray, and other equipment from 29.25% to 55%, in addition to also increasing the tax on ammunition. The proposal was sent by the revenue service to the ministry's executive secretary, Dario Durigan, on Wednesday night. The revenue service declined to comment. The move aligns with other actions by leftist Lula, who has consistently opposed policies that encourage the sale and use of firearms.

Persons: Fernando Haddad, Dario Durigan, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Bernardo Caram, Bill Berkrot Organizations: Brazil's Finance Ministry, Reuters, Finance, Thomson Locations: BRASILIA

☆ Brazilian Oil Industry Gets Support From New Congressional Caucus
▼ + stars: | 2023-10-26 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

By Anthony BoadleBRASILIA (Reuters) - Brazilian lawmakers have set up a congressional caucus to represent Brazil's oil and gas industry, led by state-run producer Petrobras, and to back the company's plans to explore offshore fields near the mouth of the Amazon River. Petrobras has planned to explore in the so-called Northern Brazilian Equatorial Margin, following major discoveries in neighboring Guyana and Suriname. We have to explore for oil at the mouth of the Amazon," Pazuello said. The Parliamentary Front in Support of Oil, Gas and Energy, as the caucus is called, was launched on Tuesday with 217 members, or 42% of the lower chamber of Congress. He said the launch of the caucus received unprecedented support in Congress and was a non-partisan effort.

Persons: Anthony Boadle BRASILIA, Eduardo Pazuello, Luiz Inacio Lula da Silva's, Pazuello, Equinor, Washington Quaquá, Jair Bolsonaro, Anthony Boadle, Rod Nickel Organizations: Reuters, Petrobras, Wednesday, Mines and Energy Ministry, Gas, Energy, Lula's Workers Party Locations: Para, Guyana, Venezuela, Suriname, Brazil, Rio de Janeiro

☆ Lula approval falls on view Brazil economy slipping -Genial/Quaest poll
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Brazil's President Luiz Inacio Lula da Silva attends a meeting with Chinese Politburo Standing Committee member, Li Xi at the Planalto Palace in Brasilia, Brazil September 22, 2023. REUTERS/Adriano Machado/File Photo Acquire Licensing RightsBRASILIA, Oct 25 (Reuters) - Approval of President Luiz Inacio Lula da Silva's performance has fallen on Brazilian worries that Latin America's largest economy is worsening, a new Genial/Quaest poll showed on Wednesday. Approval of his way of governing has fallen to 54% in October from 60% in August, while 42% of those polled say he is doing a bad job, up from 35% in the previous survey. Genial/Quaest interviewed 2,000 people of voting age between Oct. 19 and Oct. 22. The poll has a 2.2 percentage point error margin.

Persons: Luiz Inacio Lula da Silva, Li Xi, Adriano Machado, Luiz Inacio Lula da, Quaest pollster Felipe Nunes, Lula, Jair Bolsonaro, Quaest, Anthony Boadle, Steven Grattan, Jonathan Oatis, Deepa Babington Organizations: REUTERS, Rights, Thomson Locations: Brasilia, Brazil, Rights BRASILIA

☆ Brazil's Lula names new CEO of state-run lender Caixa
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Companies Caixa Economica Federal FollowBRASILIA, Oct 25 (Reuters) - Brazilian President Luiz Inacio Lula da Silva on Wednesday picked Carlos Antonio Vieira Fernandes to replace Rita Serrano as CEO of state-run lender Caixa Economica Federal. Her replacement, Fernandes, is a former worker at the bank and former director of the Caixa employees' pension fund, Funcef. The CEO appointment comes after months of negotiations with a powerful bloc of lawmakers called "centrao." Fernandes was recommended to Lula by Lower House Speaker Arthur Lira on behalf of the bloc, in exchange for more support in Congress. Reporting by Lisandra Paraguassu; Writing by Peter Frontini; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Carlos Antonio Vieira Fernandes, Rita Serrano, Serrano, Lula, Fernandes, Arthur Lira, Lisandra Paraguassu, Peter Frontini, Leslie Adler Organizations: Caixa Economica, Caixa Economica Federal, Caixa, Lower, Thomson Locations: BRASILIA, Caixa, Lula

☆ Brazil's Lula likely to visit Saudi Arabia to discuss investments
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Oct 24 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Tuesday he is likely to travel to Saudi Arabia soon to discuss investments from the kingdom in his country as part of the "growth acceleration" plan recently launched by his administration. Lula said in a live broadcast on social media he would probably make a stop in Saudi Arabia on his way to the United Arab Emirates to attend the COP28 global climate meeting next month. The leftist leader is recovering from hip surgery he underwent late last month and has yet to be cleared by his doctors to travel. He said he was feeling fine. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Lula, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, United, Thomson Locations: Saudi Arabia, United Arab Emirates

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