EMerging Equity
Petrobras
More Woes For Brazil As Authorities Uncover Massive $6B Tax Fraud At Finance Ministry
Brazilian authorities said they uncovered a massive tax fraud scheme on Thursday at the Finance Ministry’s tax appeals board that could have cost taxpayers up to 19 billion reais ($5.96 billion), Reuters reports. The news of the alleged tax evading practices comes at a particularly troublesome time for the nation as it is still reeling from a multibillion-dollar corruption … Continue reading
Brazil ETF Stung Following Petrobras Downgrade
By Todd Shriber, ETF Trends Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, were off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news for the iShares MSCI Brazil … Continue reading
Protests Will Test Brazilian Government’s Resolve
By Stratfor Global Intelligence Social movements and activist groups are just one more challenge Brazil will face in a year of economic slowdown and political scandal. Protests over public transportation costs, land reform, work conditions and other issues have been on the rise in recent years and will test Brazilian President Dilma Rousseff’s second-term reform … Continue reading
Petrobras’s Lesson For Latin America
By Hana Fischer In the wake of the scandal surrounding Brazil’s state-run oil company Petrobras, we would do well to analyze the role of state enterprises in the Americas. Codenamed Lava Jato, or “car wash,” the investigation into Petrobras operations by police and public prosecutors revealed a colossal corruption scheme involving former top executives, construction companies, and … Continue reading
Rousseff Promises Big Changes: Is This Good For Brazil ETFs?
By Zacks Equity Research Very few thought that Brazilians would finally vote for the seemingly unpopular president (in the eyes of the global investing world) offering Dilma Rousseff another presidential term. After all, Dilma’s first-term leadership took Brazil to the technical recession in the first half of this year. This technical recession surfaced for the … Continue reading
Brazil’s Petrobras Stock Price To Recover – Regardless Who Wins Elections, Bank Of America Says
Brazil’s state-run energy firm, Petróleo Brasileiro S.A. or Petrobras, whose stock price was at nearly $50 in early 2010, has seen its share price battered over the years amid concerns over the company’s soaring debt and profitability. Over four years later, and not much has changed. A continual slide in its share price, which had … Continue reading
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