musiclover

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Brazil lawmakers set to vote on overhaul of forest

Activists are warning that a proposed revamp of Brazil’s tough environmental law could roll back historic gains in the fight against Amazon deforestation by opening parts of the rainforest to farming and increasing impunity for violators. Brazil’s agricultural lobby, which has maintained a decade-long fight for changes to the country’s Forest Code, contends the bill would make pragmatic changes to an overly strict law that is unfair to farmers and ranchers.

The bill was approved by Brazil’s Senate in December and is expected to be easily passed by the lower house of Congress on Tuesday. It would then go to President Dilma Rousseff, who has said she opposes parts of the reform and has promised to use her line-item veto powers on the proposed legislation.

Brazil banking results may be hurt by provisions

Brazil’s biggest banks are likely to post tepid results in the first quarter as they set aside more cash to cover bad loans, which have risen amid slower economic growth. “We expect results to be a big reality check,” Credit Suisse said in a recent research report. “Results should support our bearish stance on the sector and prove banks’ guidances continue to deviate from reality.”

Brazil’s banks have consistently argued that with Brazil’s central bank cutting its key interest rate, non-performing loans shouldn’t be worrisome. The central bank has slashed its Selic rate by 2.75 percentage points since late August, to 9.75%, and is expected to cut the rate again next week.

Brazil’s Rousseff deepens ties with MIT in US

Brazil’s President Dilma Rousseff on Tuesday launched an initiative to deepen ties with the prestigious Massachusetts Institute of Technology (MIT) after meeting Monday at the White House with President Barack Obama, Rousseff continued her short visit to the United States with meetings in the Boston area where MIT is based.

“For Brazil it’s very important what we are doing here,” she said in an appearance with MIT president Susan Hockfield to announce an education initiative she said will be sure to grow further.

Brazil says no delays on World Cup stadiums

The Brazilian government said construction at 2014 World Cup stadiums is on schedule in all 12 host cities.

With 800 days to go until the World Cup, the government said Tuesday that five stadiums have more than 50 percent of work completed, while another five have more than 30 percent of construction ready. Two are just 20 percent completed – the Beira-Rio stadium in the southern city of Porto Alegre and the Arena das Dunas in northeastern Natal.

Brazil to release funds to quell Congress unrest

President Dilma Rousseff will try to quell a rebellion among Brazilian legislators by releasing some frozen funds for their pet projects, sources told Reuters, hoping that will convince them to pass critical legislation for the 2014 World Cup and other bills related to the economy.

Rousseff has struggled since taking office last year with unrest among the 17 parties that make up her coalition in Congress. The latest conflict followed Rousseff’s decision to freeze about $30 billion in funds in this year’s budget, a move which she hoped would contain inflation while allowing Brazil’s high interest rates to keep falling in coming months.

Brazil unveils first charges for dictatorship crimes

Brazilian prosecutors Tuesday unveiled the first criminal charges for crimes committed during the two-decade military dictatorship which ended almost a quarter of a century ago.

Army colonel Sebastiao Curio Rodrigues de Moura, better known as “Dr Luchini,” was charged over the unresolved kidnapping of five militants captured during a crackdown on leftist guerrillas in the 1970s and still missing today, prosecutor Tiago Rabelo told a press conference.

FIFA chief Blatter apologizes to Brazil

FIFA president Sepp Blatter on Tuesday apologized to Brazil over remarks by his secretary general Jerome Valcke that the Brazilian organizers of the 2014 World Cup needed a “kick up the backside.”

In a letter sent to Brazilian sports minister Aldo Rebelo, Blatter said: “Both as FIFA president and personally, I would like to apologize to all those – above all the Brazilian government and president Dilma Rousseff – who feel that their honor and pride has been injured.”

Anglican Bishop Slain in Northeastern Brazil

The Anglican bishop for Brazil’s northeastern state of Pernambuco was killed along with his wife, law enforcement officials in the state capital of Recife said Tuesday, and their son is the chief suspect. More >

2012 Brazil Carnival Viewers, Jennifer Lopez & Fergie

The 2012 Brazil Carnival was in full swing in Rio de Janeiro with millions of spectators viewing the celebration. Among the celebrities attending the famous event were Black Eyed Peas singer Fergie, and American Idol judge Jennifer Lopez. More >

Brazil Police May Have Executed 30 in Strike

Current and former police officers may have committed up to 30 murders during the recently ended police strike in Brazil’s northeastern state of Bahia, law enforcement officials there said.

Up to 30 people were killed execution-style out of the 180 murdered during violence that hit the state during the 12-day strike, said Arthur Gallas, head of the police department’s homicide department, during a late Monday briefing for reporters.