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Brazil judge orders accounts frozen of ex-billionaire Batista RIO DE JANEIRO: A Rio de Janeiro judge on Tuesday ordered the bank accounts of former billionaire businessman Eike Batista frozen after authorities charged him with stock market manipulation, media reports said.Federal prosecutors last week filed criminal charges against Batista and embarked on moves to freeze an estimated 1.5 billion reais ($635 million) of assets, including properties, though the move is still pending.Saturday, the Rio de Janeiro prosecutor's office had revealed it was charging Batista for deceiving investors over a reported plan to invest $1 billion in oil company OGX only to renege on putting a share option at a given share price level.He also stands accused of using privileged information last year to sell off company stock.The man who was once the world's eighth-richest person -- and richest in Brazil -- could now face a jail term of up to 13 years.Judge Flavio Roberto de Souza called on Batista ...

Venezuela faces default fears as LatAm economic woes mount CARACAS: Despite sitting atop the world's largest oil reserves, Venezuela's government is facing mounting concerns about its solvency, prompting a downgrade that has added to Latin America's recent economic bad news.Venezuela owes more than $6.4 billion in debt payments in October, equal to one-third of its total declared hard currency reserves.The overall economic picture is also bleak, with Venezuelans hit by chronic shortages of basic goods, annual inflation of more than 60 percent and a ...
First domestic case of chikungunya in Brazil: ministry BRASïLIA: Brazil's authorities on Tuesday reported the first domestically contracted cases of the mosquito-borne chikungunya virus, prompting the government to announce it was stepping up attempts to control the disease.The joint disease, which causes high fever and painful arthritis, is endemic to Africa and south Asia but has been moving north as well as west.Brazil's cases emerged in Oiapoque municipality in the northern region of Amapa, bordering French Guiana, where cases have also been reported.The ...
Colombia may pre-finance 2015 borrowing needs NEW YORK: Colombian Finance Minister Mauricio Cardenas said on Monday the government could start early to pre-finance some of its estimated $3 billion in 2015 borrowing needs by tapping international capital markets before year-end. "We are now thinking for next year. We may pre-finance some of the needs for 2015, but that depends on the markets, that depends on the assessment whether it is better to come to the markets with a bond issue this ...
Peru's Humala abruptly replaces his finance minister with key adviser LIMA: Peru's President Ollanta Humala replaced his influential finance minister with the ministry's chief adviser late on Sunday in a surprise shake-up that comes amid the worst economic slowdown in five years. Incoming Finance Minister Alonso Segura said his priority would be to consolidate reforms already underway in Humala's government, with an eye toward jump-starting economic growth. Segura said the global minerals exporter's economy would likely expand by less than 4 percent this year - ...
Venezuela arrests 64 for anti-Maduro protests: rights group CARACAS: Venezuelan security forces have arrested 64 people during renewed demonstrations against President Nicolas Maduro's government in the capital as well as the city of Barquisimeto, a rights group said on Saturday. The detentions came on Friday when mostly student demonstrators organised protests to coincide with seven months since the Feb. 12 start of a major wave of demonstrations."The protests have died down but are still sporadic, as we saw yesterday. Obviously the discontent continues," ...
Brazil prosecutor asks for freeze of Batista assets, property BRASILIA: The Rio de Janeiro prosecutor's office has asked a federal court to freeze financial assets and up to 1.5 billion reais($641 million) worth of property from Eike Batista, accusing the fallen Brazilian tycoon of market manipulation. In a statement on Saturday, the prosecutor's office said that Batista deceived investors with a "simulated" promise two years ago to invest $1 billion in oil company OGX, now known as Oleo e Gas Participacoes SA, if shares ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln