Tag Archives: brazil

Are the Olympics worth the cost?

Olympic Games waste money

By Filip Karinja Making up the ‘B’ in the new BRICS trading block, Brazil is considered to be one of the world’s leading economies. Yet, in recent times, the South American nation has been plagued by political and economic turmoil. Now that the closing ceremony is over and the athletes have gone to …

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Rio Olympics overshadowed by corruption, zika and incompetence

Rio Olympics

After seven years of preparation and 12 billion US dollars the Rio Olympics are nearly upon us. We always knew that these Olympics were going to be a little seat of the pants but the story of these Olympic preparations are almost beyond belief. With statistically two of the greatest …

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Rio de Janeiro is out of money ahead of Olympic Games

Rio de Janeiro

The acting governor of Rio de Janeiro state has declared a state of financial disaster so he has more leeway to manage the state’s scarce resources less than two months Brazil hosts the Olympic Games. Francisco Dornelles announced the decision on Friday. It will allow Rio’s state government to change …

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Brazil’s acting president was informant for US intelligence, military

Brazil President Michel Temer

Brazil‘s new interim president, Michel Temer, was an embassy informant for US intelligence, WikiLeaks has revealed. According to the whistleblowing website, Temer communicated with the US embassy in Brazil via telegram, and such content would be classified as “sensitive” and “for official use only.”  Two cables were released, dated January 11, 2006 and June …

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Dilma Rousseff: Brazil votes to impeach president

Brazilian president Dilma Rousseff impeachment

Brazilian president Dilma Rousseff suffered a crushing defeat on Sunday as a hostile and corruption-tainted congress voted to impeach her. In a rowdy session of the lower house presided over by the president’s nemesis, house speaker Eduardo Cunha, voting ended late on Sunday evening with 367 of the 513 deputies backing impeachment …

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Brazil, Uruguay move away from US dollar in trade

USD dollar

Brazil and Uruguay have switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar. Payments in the Brazilian real and Uruguayan peso started on Monday. The agreement was signed on November 2 by the head of Brazilian Central Bank Alexandro Tombini and his Uruguayan counterpart …

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World Cup 2014 photos

Cristiano Ronaldo Portugal World Cup

Brazilians are angry. They are angry with their government for pumping millions of dollars into the funding of an eight-week extravagance. They are angry that money being spent on the World Cup is desperately needed for education, sanitisation, hospitals and the eradication of violence, drugs and weapons from their streets. …

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Latin America stands up to Monsanto

Chile Monsanto

The market with the biggest potential for growth, as far as corporate agriculture is concerned, is putting its foot down and saying no. Chile, Colombia and a growing number of other Latin American countries are taking a stand against Monsanto and its ilk by rejecting advancements to further convert their …

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BRICS to create alternative to IMF and World Bank

BRICS leaders

The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), according to RBTH. As WSJ reports, the U.S. would lose its veto power on …

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