The Brazilian government’s pledge to help power distributors cope with the worst drought in four decades is set to fall short of their additional spending, according to data compiled by an industry association.
Brazil will give 1.2 billion reais ($512 million) to help power distributors affected by rising prices in the nation’s drought, the Finance and Energy ministries said today in an e-mailed statement.
Wedding photographer Vitor Duarte knows what it’s like to get a smile, and he says there’s not much to smile about in Portugal.
Galp Energia SGPS SA, Portugal’s biggest oil company, raised its investment forecast as exploration and production in Brazil and Mozambique expand.
China Fishery Group Ltd., the biggest anchovy-quota holder in Peru following its acquisition of Oslo-listed Copeinca ASA, may be downgraded after the buyout sent its debt levels soaring.
Portugal bought back 1.32 billion euros ($1.8 billion) of bonds due this year and next to smooth out debt repayments as the nation approaches the end of its international bailout program.
Portugal is due to buy back bonds due in October 2014 and October 2015 today to ease debt repayments as the nation approaches the end of its international bailout program.
Brazil’s central bank halved the pace of key rate increases, signaling the end of its tightening cycle is near, as policy makers struggle to tame inflation without further jeopardizing growth.
President Ollanta Humala will reshuffle his cabinet today after Cabinet Chief Cesar Villanueva resigned after less than four months in his post.
Peru’s economic growth rebounded in the fourth quarter as improved consumer and business sentiment spurred domestic demand and new copper mines boosted output.