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Brazil economy to grow 3% in 2015

Brazil's economy is forecast to expand by three percent next year, picking up briskly after years of stagnant growth, a top government economist said on Tuesday. Miriam Belchior, Brazil's minister of planning, said in a report presented to the national legislature that inflation for Latin America's biggest economy was expected to be five percent next year. Recent growth has been slow in Brazil, in part because of the economic drain of playing host to the World Cup, as well as weak infrastructure and low private investment reflecting a lack of confidence in industry.

Petrobras hands over documents in Brazil corruption probe

Rio de Janeiro, Apr 12 (EFE).- Brazilian state-controlled oil giant Petrobras turned over documents to Federal Police investigators carrying out a corruption probe, officials said. The company had previously been notified and cooperated with investigators who arrived at its headquarters in Rio de Janeiro, the Federal Police said in a statement. The police were personally received Friday by CEO Maria das Gracas Silva Foster, who handed over the documents they requested regarding a specific contract, Petrobras said in a statement.

Petrobras hands over documents in Brazil corruption probe

Rio de Janeiro, Apr 12 (EFE).- Brazilian state-controlled oil giant Petrobras turned over documents to Federal Police investigators carrying out a corruption probe, officials said. The company had previously been notified and cooperated with investigators who arrived at its headquarters in Rio de Janeiro, the Federal Police said in a statement. The police were personally received Friday by CEO Maria das Gracas Silva Foster, who handed over the documents they requested regarding a specific contract, Petrobras said in a statement.

Brazilian tycoon Batista faces insider trading probes

By Jeb Blount and Juliana Schincariol RIO DE JANEIRO (Reuters) - Eike Batista, who was Brazil's richest man for most of the past decade, is under investigation for allegedly engaging in insider trading while he chaired his now-bankrupt oil-producing and shipbuilding firms, securities industry watchdog CVM said on Friday.

Brazil forces steelmaker CSN to reduce stake in rival Usiminas

SAO PAULO (Reuters) - Brazil antitrust regulator Cade ruled on Wednesday that steelmaker Companhia Siderurgica Nacional SA, known as CSN, should reduce its stake in rival Usinas Siderurgicas de Minas Gerais SA. Preferred shares of Usiminas, as Usinas is known, extended losses to as much as 10 percent after the ruling. (Reporting by Luciana Otoni; Editing by Steve Orlofsky)

Brazil rally may stall unless perception improves: Bradesco BBI

By Guillermo Parra-Bernal SAO PAULO (Reuters) - A 17 percent jump in Brazilian stocks over the past three weeks could run out of momentum unless investor perceptions or fundamentals improve significantly, a senior analyst at Bradesco BBI said on Tuesday. A surge in Brazil's benchmark Bovespa stock index <.BVSP>, which began on March 17, came as investors increased their holdings of Brazilian equities from a consensus underweight position, said Carlos Firetti, Bradesco BBI's head of equity research.

Brazil central bank raises key interest rate to 11 percent

BRASILIA (Reuters) - Brazil's central bank raised its benchmark Selic rate to 11 percent from 10.75 percent on Wednesday, prolonging its tightening cycle after a surge in food prices that has stoked already high inflation in an election year. All of the 62 analysts surveyed by Reuters last week expected the bank's monetary policy committee to raise the Selic by 25 basis points to its highest level in over two years. The bank's decision was unanimous. (Reporting by Alonso Soto; Editing by Eric Walsh)

Shareholder, watchdog votes give boost to Oi-Portugal Telecom tie-up

By Luciana Bruno and Leonardo Goy RIO DE JANEIRO/BRASILIA (Reuters) - The planned combination of telecommunications companies Grupo Oi SA and Portugal Telecom SGPS SA took a huge step forward on Thursday as shareholders of the Brazilian carrier approved a capital increase that will facilitate the merger while regulators imposed almost no barriers to the transaction.

Petrobras ex-director arrested for links to money-laundering ring

Rio de Janeiro, Mar 20 EFE).- A former director of Brazilian state-controlled energy giant Petrobras' downstream operations was arrested Thursday for alleged links to a gang accused of laundering illicit proceeds. Paulo Roberto Costa, a senior executive at Brazil's largest company for many years, was detained at his residence in Rio de Janeiro, the Federal Police said. He also faces charges of destroying evidence.

Brazil economy ends 2013 on an upbeat note, boosting Rousseff

By Brian Winter and Silvio Cascione SAO PAULO/BRASILIA (Reuters) - Brazil's economy ended 2013 on a upbeat note thanks to strong consumer spending and investment, providing a much-needed boost to President Dilma Rousseff as she tries to rebuild her credibility with business leaders and win re-election in October.
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