EMerging Equity
Scandal
The Political Cost Of Corruption In Brazil
By Stratfor Global Intelligence In the wake of Brazil’s oil corruption scandal, the country’s ruling political coalition has all but fallen apart. The ongoing investigation of corruption charges against state-owned energy giant Petroleo Brasileiro has the Brazilian Democratic Movement Party (PMDB), a long-time ally of the ruling Workers’ Party, distancing itself from Brazilian President Dilma … Continue reading
Malaysia Planning More Fuel Subsidy Cuts Amid Scandal Which Raises Policy Risk
Malaysia is planning to cut more government fuel subsidies and move billions of dollars in government employee housing loans off its balance sheets to shore up its fiscal position, in the face of a growing scandal that is threatening Prime Minister Najib Razak’s ability to execute potentially unpopular policies, Bloomberg reported on Monday night. The Malaysian government will … Continue reading
Saudi Arabia: 100 Executions In 6 Months
“Saudi Arabia has beheaded a Syrian drug trafficker, rocketing the number of this year’s executions in the Kingdom to 100. This figure is already more than the 87 sentenced and put to death in the country during the whole of last year,” RT reports. The execution took place on Monday in the northern region of … Continue reading
Russia, Qatar May Lose Rights To Host World Cup If Evidence Of Bribery Found
Russia and Qatar could be stripped of their rights to host the World Cup if evidence of bribery in the bidding process is found, said Domenico Scala, the independent chairman of FIFA’s audit and compliance committee, during an interview published on Sunday by Swiss newspaper Sonntagszeitung. Both countries have denied any wrongdoing in their bidding processes and Scala … Continue reading
Red Card For FDI In Qatar?
By Sam Doo Within the tumultuous geopolitics of the Middle East, Qatar stands as an oasis of relative calm. Thanks to a stable government, vast oil reserves, and favorable investment climate, FDI has been pouring into the country. In 2010, Qatar reached another milestone in announcing itself to the world by securing the right to … Continue reading
Fitch Cuts Brazil’s Outlook To Negative Amid Fiscal Challenges
The outlook on Brazil’s credit rating was cut to negative by Fitch Ratings due to challenges in implementing fiscal adjustment amid a stalled economy, according to a statement released on Thursday. The ratings agency lowered its outlook on Brazil’s sovereign rating to negative from stable while keeping the country’s rating at BBB, which is the second-lowest investment grade. … Continue reading
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
Argentine Judge Dismisses Coverup Allegation Against President Cristina Fernández
An Argentine judge on Thursday dismissed allegations that President Cristina Fernández had conspired to cover up Iran’s alleged role in the deadly bombing of a Buenos Aires Jewish center in 1994, Reuters reports. Argentine Judge Daniel Rafecas said that he would “discontinue” the case as “the evidence gathered far from meets the minimal standard,” Reuters reports, citing the … 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
Argentine President Fernández Indicted In Alleged Cover-Up Of Iran’s Involvement In 1994 Bombing
A federal prosecutor in Argentina – Gerardo Pollicita – has revived the late Alberto Nisman’s startling accusations with an indictment on Friday that seeks to charge President Cristina Fernández de Kirchner and other politicians with trying to cover up Iran’s involvement in the bombing of a Jewish community center in Buenos Aires in 1994. Pollicita looks to … Continue reading
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