Brazil Economy Minister expresses disappointment with pension reform bill changes

RIO DE JANEIRO, June 14 (Reuters) – Brazil’s Economy Minister Paulo Guedes on Friday expressed his disappointment with a congressional committee’s report on pension reform, saying it made more changes to the government’s original proposals than he had expected. Speaking in Rio de Janeiro, Guedes said a bill generating 1 trillion reais ($256 billion) of savings over the next decade […]

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Softbank in talks to invest in Brazilian fintech Nubank -source

SAO PAULO, June 6 (Reuters) – Japan’s Softbank Group Corp is in talks to invest in Brazilian financial technology company Nubank, a source said. “Talks are in initial stage and final values have not yet been determined,” the source said, requesting anonymity to disclose private talks. Financial blog Vox reported on Wednesday that Softbank may invest up to $1 billion […]

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Brazil lower house votes to allow foreign airlines in domestic market

BRASILIA (Reuters) – Brazil’s lower house of Congress voted on Tuesday to allow foreign-controlled airlines to operate domestic flights in Latin America’s largest economy, opening the door to more competition in an increasingly concentrated market. The chamber approved the original text of a decree issued by former President Michel Temer in December that removed the 20% limit on foreign ownership […]

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Brazil will not sacrifice curbing inflation for growth – central bank chief

BRASILIA, May 16 (Reuters) – Brazil’s central bankers are disappointed with how the economy is performing but will not sacrifice controlling inflation for boosting growth, central bank president Roberto Campos Neto said on Thursday. Responding to questions from lawmakers at a Congressional budget commission in Brasilia, Campos Neto said growth has only been partially interrupted and will return. He also […]

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Brazil govt to cut 2019 GDP forecast below 2% -Economy Ministry

BRASILIA, May 14 (Reuters) – Brazil’s government will cut its forecast for 2019 economic growth below 2% from the current 2.2%, and seek supplementary funding of around 248 billion reais ($63 billion) from state-run BNDES development bank to meet current expenditure, Economy Ministry officials said on Tuesday. Waldery Rodrigues, special secretary to the ministry, said the growth forecasts will be […]

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Brazil public investment this year may hit new low below 0.5 pct/GDP -Treasury

BRASILIA, April 29 (Reuters) – Brazil’s public investment could fall below 0.5 percent of gross domestic product this year if weak revenues force the government to put the squeeze on discretionary spending, the Treasury said on Monday. This would be the lowest ever level of public spending as a share of the economy, and would represent a continued decline from […]

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