Australian super funds eye Latin American infrastructure

Stephen Anthony, chief economist of the Industry Super Association, told an audience of bankers and industry players from Chile, Mexico, Colombia and Peru that Australian industry super funds are ready to go to Latin...

Brazil prosecutors file homicide charges over Samarco disaster

Brazilian prosecutors have filed charges including homicide against 22 people, among them executives at miners BHP Billiton and Vale, in connection with the deaths of 19 people when a dam collapsed last year. The charges...
Joaquim Levy

Banker to be named Brazil finance minister

BRASILIA (Reuters) - Brazilian President Dilma Rousseff will name banker Joaquim Levy as her new finance minister, three leading newspapers reported on Friday, signaling a shift toward more market-friendly...

Source: www.reuters.com

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Danish government seeks labour market reform to boost jobs

    Denmark's right-leaning government is seeking to create jobs through pension reforms and tax cuts to entice people to work more, but it might prove difficult to persuade the powerful ally Danish People's Party (DF)...
Brazilian stocks gain on recovery optimism

Brazil Stock Investors Fear Mexico Trade Ripples More Than U.S.

Brazilian stocks fell on concern that the world’s largest economy will take a protectionist turn, depressing global trade, after Donald Trump was elected president. Companies with ties to Mexico took the biggest hits. Autoparts maker...
Brazilian Congress

In 13 years, public wage rose three times more than the private

The average salaries of the public service sector rose in real terms (above inflation), 33% between January 2003 and January 2016, while in the private sector, the increase was 10%. The survey, conducted on the basis...
Brazil's sugar cane

Brazil to rethink Thai sugar support challenge

Brazil is weighing whether to drop its actions at the World Trade Organisation (WTO) against Thailand's support for its sugar sector as part of its plan to improve trade strategies in line with the...
Brazilian productivity

Brazil opening crucial for productivity

Brazil is on the right track to recover from its worst crisis in a century, but needs to open its economy if it is to achieve long-term growth, said speakers at the annual assembly...

Brazil passes Anti-Bribery Bill: key aspects for companies | Lexology

Brazil has passed a new Anti-Bribery Bill, which imposes civil and administrative liability on companies found to have engaged in corrupt practices while transacting business in Brazil or with Brazilian entities. The law will go into effect early in 2014. Companies should be aware of the Bill, and in particular, some of the following aspects of the Bill:

The law applies to bribery of Brazilian officials and foreign public officials. As a result, it applies not only to Brazilian companies doing business with foreign entities, but also to non-Brazilian companies, with a subsidiary, branch, office, or representative in Brazil. Companies can be liable for the acts of their officers, directors, employees, or agents through respondent superior, and in certain circumstances, may be strictly liable for their agents’ actions. The law provides a credit against sanctions for companies that have instituted compliance programs. Cooperation and self-reporting are also rewarded through reductions in the sanctions available against companies. It is expected that the Brazilian government will produce more detailed guidelines on the key components of compliance programs, and the exact meaning of ‘cooperation’ in the near future. Fines available under the law can reach as high as twenty percent of the company’s gross revenue from the year prior. If that amount cannot be calculated, fines can reach up to R$60 million (approximately US$26 million). Sanctions may also include suspension of the company’s activities and even dissolution of the legal entity. …

Source: www.lexology.com

Petrobras open sea oil station

It is over: Brazil ends Petrobras’ monopoly over Pre-Salt

Brazil’s House of Representatives approved a bill on Wednesday night that will end Petrobras’ monopoly to operate deep-water oil fields. The new legislation was passed by a 292-to-101 vote, but members of Congress can...
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