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Brazil

Brazil to freeze $2.7 bn from budget as govt tries to meet fiscal target

The decision to hold back on spending comes amid market worries about the government's ability to meet its goal of eliminating the primary deficit.

Brazil to freeze $2.7 bn from budget as govt tries to meet fiscal target
Updated On : 19 Jul 2024 | 10:43 AM IST

Paris Olympics 2024: Football full schedule, live time (IST), streaming

From Football history to final and semifinal dates: Find everything to know about the Football event in the Paris Olympics 2024 here

Paris Olympics 2024: Football full schedule, live time (IST), streaming
Updated On : 18 Jul 2024 | 2:06 PM IST

Bolsonaro embezzled $1.2 mn worth of jewellery from Saudi Arabia: Police

Brazil's Federal Police allege former president Jair Bolsonaro embezzled jewellery worth 6.8 million Brazilian reals (about USD 1.2 million) during his time in office, according to the investigative report unsealed on Monday by the Supreme Court. Bolsonaro was indicted last week charging embezzlement, asset laundering and criminal association in connection with the luxury jewellery from Saudi Arabia. The investigation adds pressure on the far-right leader who governed in 2019-2022 before losing his reelection bid to Luiz Incio Lula da Silva. He has already lost his political rights until 2030. Bolsonaro has not commented on the indictment, but has previously denied any wrongdoing involving the jewellery. The police report alleges there was "a criminal association for the embezzlement of high-value gifts that were received due to the position of former President Jair Bolsonaro". The jewellery included diamond-encrusted Rolex and Patek Phillipe watches, a necklace, rings and cufflinks

Bolsonaro embezzled $1.2 mn worth of jewellery from Saudi Arabia: Police
Updated On : 09 Jul 2024 | 7:38 AM IST

Argentine Prez Milei heads to far-right convention in Brazil, snubs Lula

Given the choice between a far-right convention to bash his enemies and a presidential summit to discuss regional trade policy, Argentine President Javier Milei preferred the stadium packed with cheering fans. The libertarian leader was in Brazil on Sunday, preparing to headline the country's version of CPAC, the conservative political action conference, alongside former President Javier Bolsonaro in Brazil's southern city of Balneario Camboriu. In skipping the Mercosur trade bloc summit in Paraguay and sidling up to Bolsonaro just days after federal police indicted the right-wing populist in a scheme to embezzle Saudi diamonds, Milei delivered another harsh rebuke to Brazil's left-wing President Luiz Inacio Lula da Silva, escalating a risky feud with his country's biggest trading partner. It was the latest example of Milei's provocative foreign policy, courting the global spotlight through friendships with hard-right allies rather than following diplomatic convention. Bolsonaro on

Argentine Prez Milei heads to far-right convention in Brazil, snubs Lula
Updated On : 08 Jul 2024 | 7:05 AM IST

Indian oil giants, Brazil's Petrobras in talks for long-term crude supply

Indian Oil, Hindustan Petroleum, and Bharat Petroleum are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts to diversify its energy sources

Indian oil giants, Brazil's Petrobras in talks for long-term crude supply
Updated On : 05 Jul 2024 | 11:54 AM IST

Brazilian police indict ex-President Bolsonaro in undeclared diamonds case

Brazil's Federal Police have indicted former President Jair Bolsonaro for money laundering and criminal association in connection with undeclared diamonds the far-right leader received from Saudi Arabia during his time in office, according to a source with knowledge of the accusations. A second source confirmed the indictment, although not for which specific crimes. Both officials spoke on condition of anonymity because they weren't authorized to speak publicly. Brazil's Supreme Court has yet to receive the police report with the indictment. Once it does, the country's prosecutor-general, Paulo Gonet, will analyze the document and decide whether to file charges and force Bolsonaro to stand trial. The indictment dramatically raises the stakes in a series of investigations into the divisive ex-leader applauded by his opponents but denounced as political persecution by his supporters. Bolsonaro and his lawyers have denied any wrongdoing related to the case, as well as the slew of ...

Brazilian police indict ex-President Bolsonaro in undeclared diamonds case
Updated On : 05 Jul 2024 | 9:59 AM IST

President Lula approves spending cuts to meet Brazil's fiscal framework

The Brazilian real has weakened around 13% against the US dollar this year

President Lula approves spending cuts to meet Brazil's fiscal framework
Updated On : 04 Jul 2024 | 9:11 AM IST

Brazil data regulator bans Meta from mining data to train its AI models

Brazil's national data protection authority determined on Tuesday that Meta, the parent company of Instagram and Facebook, cannot use data originating in the country to train its artificial intelligence. Meta's updated privacy policy enables the company to feed people's public posts into its AI systems. That practice will not be permitted in Brazil, however. The decision stems from the imminent risk of serious and irreparable or difficult-to-repair damage to the fundamental rights of the affected data subjects, the agency said in the nation's official gazette. Brazil is one of Meta's biggest markets. Facebook alone has around 102 million active users in the country, the agency said in a statement. The nation has a population of 203 million, according to the country's 2022 census. A spokesperson for Meta said in a statement the company is disappointed and insists its method complies with privacy laws and regulations in Brazil. This is a step backwards for innovation, competition in

Brazil data regulator bans Meta from mining data to train its AI models
Updated On : 03 Jul 2024 | 6:48 AM IST

Jason Day set to finally play Olympic golf for Australia at Paris Games

Jason Day will finally make it to an Olympics while a brother-and-sister combination are two of the other three golfers set to play for Australia at the Paris Games. Day was ranked world No. 1 in 2016 when he decided not to play at the Rio Olympics, saying he was concerned about going to Brazil with the Zika virus spreading while his wife was pregnant. He said earlier this year that he regretted not going. I had one of those spots, and at the time we were having kids, and then obviously there was that (Zika) scare, so I was kind of like a little bit freaked out about that," Day said at a PGA tournament in May. The Australian Olympic Committee said Friday that Min Woo Lee would join Day on the men's team while Minjee Lee and Hannah Green would form the women's team. The two Lees are brother and sister. Minjee Lee will become the first Australian golfer to compete at three Olympics, Green returns for her second Games while Min Woo Lee will join Day in making his Olympic debut. The f

Jason Day set to finally play Olympic golf for Australia at Paris Games
Updated On : 28 Jun 2024 | 4:08 PM IST

Brazil's court decriminalises possession of marijuana for personal use

Brazil's Supreme Court on Tuesday voted to decriminalize possession of marijuana for personal use, making the nation one of Latin America's last to do so, in a move that could reduce its massive prison population. With final votes cast on Tuesday, a majority of the justices on the 11-person court have voted in favor of decriminalization since deliberations began in 2015. The justices must still determine the maximum quantity of marijuana that would be characterized as being for personal use and when the ruling will enter into effect. That is expected to finish as early as Wednesday. All the justices who have voted in favor said decriminalization should be restricted to possession of marijuana in amounts suitable for personal use. Selling drugs will remain illegal. In 2006, Brazil's Congress approved a law that sought to punish individuals caught carrying small amounts of drugs, including marijuana, with alternative penalties such as community service. Experts say the law was too va

Brazil's court decriminalises possession of marijuana for personal use
Updated On : 26 Jun 2024 | 8:29 AM IST

New Petrobras chief sworn in amid market fears of increased govt control

President Luiz Inácio Lula da Silva, who nominated Chambriard, attended the ceremony at a Petrobras research center in Rio de Janeiro

New Petrobras chief sworn in amid market fears of increased govt control
Updated On : 20 Jun 2024 | 12:37 PM IST

Indian debt expensive but rate cut clarity to trigger more buying: Pictet

Pictet, one of Europe's largest fund managers, manages debt worth around $2.67 billion in its local currency emerging market fund

Indian debt expensive but rate cut clarity to trigger more buying: Pictet
Updated On : 19 Jun 2024 | 11:21 AM IST

Here's what Elon Musk has to say on Amazon tribe getting addicted to porn

The controversy began with a New York Times article by journalist Jack Nicas, which explored the impact of Starlink's arrival on the 2,000-member Marubo tribe in Brazil

Here's what Elon Musk has to say on Amazon tribe getting addicted to porn
Updated On : 13 Jun 2024 | 4:39 PM IST

Brazil, EU urge India for timely notifications on sugar subsidies at WTO

A group of WTO member countries, including Brazil, Canada and the European Union, have urged India to submit timely notifications on sugar subsidies in the World Trade Organisation, an official said. The issue came up for discussion during the meeting of the WTO's agriculture committee on May 23-24 in Geneva. These countries are also major sugar exporters like India and they allege that support measures by India distort global sugar trade. Brazil, Canada, Costa Rica, Paraguay, New Zealand, the EU, and Guatemala have "urged India to submit timely notifications on the subsidies", the Geneva-based official said. India has stated that the Indian central and state governments neither paid for nor procured sugarcane from farmers, as all purchases were made by private sugar mills, hence, this information was not included in its notifications of domestic support. The discussion assumes significance as in 2022, India has appealed against a ruling of the World Trade Organization's (WTO) tra

Brazil, EU urge India for timely notifications on sugar subsidies at WTO
Updated On : 25 May 2024 | 5:44 PM IST

Brazil's flooded south sees 2 deaths, experts warn of surge in fatalities

The first two deaths from waterborne bacterial disease were reported in southern Brazil, where floodwaters were slowly receding, and health authorities warned additional fatalities were likely. Rio Grande do Sul state's health secretariat confirmed the death of a 33-year-old man due to leptospirosis on Wednesday. On Monday, authorities registered that a 67-year-old man had died from the same infectious disease. Since the beginning of May, 29 cases of the waterborne disease have been confirmed in the state. The flooding over about a two-week period killed at least 161 people, with 82 still missing, state authorities said Wednesday. More than 600,000 people were forced from their homes, including tens of thousands who remain in shelters, they said. Health experts had previously forecast a surge in infectious diseases including leptospirosis and hepatitis B within a couple weeks of the floods, as sewage mixed into the floodwaters. There are those who die during the flood and there is

Brazil's flooded south sees 2 deaths, experts warn of surge in fatalities
Updated On : 23 May 2024 | 7:12 AM IST

Indian courts have come to be reimagined as democratic spaces, says CJI

CJI Chandrachud also pointed crucial areas in which digitisation and technology can help us create better justice delivery mechanisms

Indian courts have come to be reimagined as democratic spaces, says CJI
Updated On : 15 May 2024 | 11:41 AM IST

Brazil pushes out Petrobras CEO, names ex-regulator to top job; shares dip

New York-listed shares of Petrobras fell more than 6% in after-hours trading as news broke that Prates was headed for the exit

Brazil pushes out Petrobras CEO, names ex-regulator to top job; shares dip
Updated On : 15 May 2024 | 9:07 AM IST

Flooding to worsen in Brazil's south, where many who remain are poor

More rain started coming down on Saturday in Brazil's already flooded Rio Grande do Sul state, where many of those remaining are poor people with limited ability to move to less dangerous areas. More than 15 centimeters (nearly six inches) of rain could fall over the weekend and will probably worsen flooding, according to the Friday afternoon bulletin from Brazil's national meteorology institute. It said there is also a high likelihood that winds will intensify and water levels rise in the Patos lagoon next to the state capital, Porto Alegre, and the surrounding area. As of Saturday afternoon, heavy rains were falling in the northern and central regions of the state, and water levels were rising. Carlos Sampaio, 62, lives in a low-income community next to soccer club Gremio's stadium in Porto Alegre. His two-story home doubles as a sports bar. Even though the first floor is inundated, he said he won't leave, partly out of fear of looters in his high-crime neighborhood, where police

Flooding to worsen in Brazil's south, where many who remain are poor
Updated On : 12 May 2024 | 7:15 AM IST

Floods likely to worsen in Brazil's South, where many who remain are poor

More heavy rain is forecast for Brazil's already flooded Rio Grande do Sul state, where many of those remaining are poor people with limited ability to move to less dangerous areas. More than 15 cm (nearly 6 inches) of rain could fall over the weekend and will probably worsen flooding, according to the Friday afternoon bulletin from Brazil's national meteorology institute. It said there is also a high likelihood that winds will intensify and water levels rise in the Patos lagoon next to the state capital, Porto Alegre, and the surrounding area. As of Saturday morning, heavy rains were falling in northern Rio Grande do Sul, while Porto Alegre and the southern part of the state were receiving drizzle. Carlos Sampaio, 62, lives in a low-income community next to soccer club Gremio's stadium in Porto Alegre. His two-story home doubles as a sports bar. Even though the first floor is flooded, he said he won't leave, partly out of fear of looters in his high-crime neighbourhood, where poli

Floods likely to worsen in Brazil's South, where many who remain are poor
Updated On : 11 May 2024 | 10:28 PM IST

Brazil reels from massive flooding as it faces risk from new storms

Authorities in southern Brazil rushed on Wednesday to rescue survivors of massive flooding that has killed at least 100 people, but some residents refused to leave belongings behind while others returned to evacuated homes despite the risk of new storms. Heavy rains and flooding in the southern state of Rio Grande do Sul since last week also have left 128 people missing, authorities said. More than 230,000 have been displaced, and much of the region has been isolated by the floodwaters. More storms are expected in the state, with lightning strikes and wind gusts reaching up to 100 kilometers per hour (62 mph) in the south, according to Ctia Valente, the meteorologist in the state's situation room. Staffers of the state's civil defense agency told The Associated Press they have been struggling to persuade residents of the city of Eldorado do Sul, one of the hardest hit by the floods, to leave their homes. It is located beside Porto Alegre, near the center of the state's coastline. At

Brazil reels from massive flooding as it faces risk from new storms
Updated On : 09 May 2024 | 7:28 AM IST