Shootout Spills into Copacabana Shocking Rio de Janeiro
By Lise Alves, Senior Contributing Reporter RIO DE JANEIRO, BRAZIL – Police units continue to patrol major streets in Copacabana on Tuesday (October 11th) after intense gunfire erupted in the favela community of Pavão-Pavãozinho between drug traffickers and police on Monday (October 10th) afternoon. By the time the shootout ended, three men were dead, three […]
Brazil Constitutional Amendment Passes First Round Vote
By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – In a vote that began Monday (October 10th) morning and lasted into the early morning hours of Tuesday (October 11th), Brazil’s House of Representatives have agreed on the Proposed Amendment to the Constitution (PEC) 241/16, which sets a ceiling on public spending for twenty years. […]
Petrobras Second in Brazil Market Value at R$211 Billion
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Despite the recent negative news coming from Brazil’s state-owned petroleum company, Petrobras, the oil giant’s market value is the second largest of a public company in Brazil, according to a survey conducted by consulting firm Economatica. According to the consultancy, Petrobras registered a R$211.64 billion […]
Commercial Real Estate in Rio’s Zona Sul Feels the Crisis
By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Ipanema, long considered one of Rio’s trendiest and most upmarket locations, has also been one of the neighborhoods most affected by the country’s deep economic recession, according to an October 10th report in O Globo. Without the Olympics on the horizon to prop-up the speculation, […]
Brazil Aims to Approve Limit on Federal Spending
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Last minute talks and negotiations were made this weekend in Brazil’s capital, Brasilia, as the government of President Michel Temer tries to guarantee that the Chamber of Deputies will vote on a Constitutional Amendment which would impose a ceiling on public federal spending. “We expect […]
Itau Unibanco Buys Citibank Brazil For R$710 Million
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s largest private bank, Itau Unibanco, announced on Saturday (October 8th) its purchase of Citibank’s retail operation in Brazil for R$710 million (approximately US$220 million). Citibank’s retail operation in Brazil includes 71 branches administering R$35 million in deposit and assets for approximately 315,000 clients. With […]
Rio’s Maracanã Looking Ready for Flamengo Return, Oct. 23rd
By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – According to a Sunday, October 9th Globo report, the grass field at Maracanã stadium has been installed and the facility is 65 percent football (soccer) ready, welcome news to Rio’s CR Flamengo, who has been pushing hard for the release of the stadium from the […]
Batuque da Boa Brings 48 Hours of Samba to Rio this Weekend
By Sarah Brown, Contributing Reporter RIO DE JANEIRO, BRAZIL – This weekend Rio de Janeiro will celebrate 100 years of samba with Batuque da Boa, an event which sees ten rodas de samba (live samba bands) playing the best of samba from the greatest classics to more recent songs. The bands will set up in […]
Petrobras Requirement Removed in Brazil’s Pre-Salt Exploration
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The House of Representatives in Brazil approved this week a bill that removes the participation requirement of state-owned Petrobras in all of pre-salt oil exploration in the country. Approved by 292 votes in favor and 101 against, the decision outraged many Congressional representatives who say […]
Longest Bank Strike in Brazil’s History Ends After 31 Days
By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After eleven rounds of negotiations, bank employees from most institutions decided to suspend the 31-day-old strike on Thursday, October 6th, and go back to work already on Friday, October 7th. The only employees to continue the strike are some working for state-owned Caixa Economica Federal. […]
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