The case of Jair Bolsonaro, former Brazilian president, is in the spotlight after the Supreme Federal Court found him guilty of attempted coup d’état in 2022, with a sentence of 27 years and three months in prison.

Bolsonaro’s defense could appeal the decision, arguing that the sentence was excessive. Therefore, they are considering appealing to international courts.

Defense attorneys Celso Vilardi and Paulo da Cunha Bueno stated that “the ruling of the First Chamber of the Supreme Federal Court is unacceptable,” adding: “The former president’s defense (…) respects the decision (…). However, it cannot fail to express its profound disagreement and indignation with the terms of the majority decision.”

Bolsonaro is currently under house arrest. The former president’s age and the various surgeries he has undergone would be mitigating factors for the defense to request that he continue under this condition.

M.Pino

Source: ambito

(Reference image source: Sasun Bughdaryan on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Jair Bolsonaro’s defense could appeal sentence apareció primero en Bitfinance.

Brazilian energy firm Âmbar announced its decision to start importing energy from Venezuela in recent weeks, marking the resumption of transactions that had been suspended since 2019.

In an official statement, the company, which belongs to the J&F group, said that the imported energy is completely renewable and offers a saving of 50 % compared to that produced in the northern state of Roraima. This state is not connected to the transmission networks of the rest of Brazil, but it does have connections to Venezuela.

Ambar has the authorization to import up to 120 MWh of energy, which will translate into annual savings of R$1 billion (approximately $200 million) on the electricity bills of residents of the state, according to the company’s estimates.

The source of this energy will be the Guri hydroelectric plant, one of the largest of its kind in the world, which meets much of Venezuela’s energy needs.

The Ministry of Mines and Energy of Brazil has clarified that the authorization has a duration of three months and that one of the conditions is that the imported energy results in a reduction of costs for the State, which currently depends on polluting power plants that produce at a cost of R$ 1,700 per MWh.

K. Tovar

Source: Descifrado

(Image reference source: Matthew Henry, Unsplash)

La entrada Venezuela to export energy to Brazil apareció primero en Bitfinance.

Brazil will guarantee the permanent increase in the minimum wage starting in 2024 according to the new law sanctioned this Monday by President Luiz Inácio Lula da Silva.

The law, which was previously approved by Congress, also establishes the exemption for individuals from paying income tax.

Luiz Marinho, Minister of Labor, “stated in the act that the new minimum wage revaluation policy will directly impact some 25 million people, including workers and pensioners, and will stimulate the country’s economic activity.”

The measure that will guarantee the permanent increase in the salary of Brazilians starting next year, and which is currently 1,320 reais per month, is based on two main factors: annual inflation and the positive variation of the gross domestic product (GDP).

It is important to note that there may be variations regarding the way in which the salary increase is decided in the event that the country’s GDP is negative. In this case, “the minimum wage will only increase based on the consumer price index.”

M.Pino

Source: finanzasdigital

(Reference image source: Alicia Christin Gerald, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Minimum wage in Brazil will have a permanent increase apareció primero en Bitfinance.

Brazilian President Luiz Inácio Lula da Silva held a telephone conversation this Wednesday with his American counterpart, Joe Biden, emphasizing the importance of seriously addressing the debate on the climate crisis.

During the call, which lasted for about half an hour, Lula explained the discussions held at the Amazon Summit, held in the Brazilian city of Belém last week, with the participation of representatives of the eight countries that share the largest tropical rainforest on the planet.

The Brazilian president expressed his intention to transform Brazil into an example for the world regarding the preservation of the environment and the energy transition.

According to a statement issued by the Brazilian Presidency, Biden recognized the responsibilities of developed countries and the need to support developing nations to face the effects of the climate crisis, expressing his total agreement.

Likewise, Biden recalled the contribution of 500 million dollars that the United States made to support the Amazon Fund, administered by Brazil with contributions from developed countries, assistance that was announced last February during a visit by Lula to Washington.

Lula reiterated the invitation to Biden to visit Brazil in 2024 and, according to sources from the Brazilian Presidency, the visit could take place in an Amazon state.

In a different aspect of the conversation, Lula and Biden discussed a joint initiative to promote decent work, which will be proposed by the United States and Brazil, with the participation of representatives of trade union movements and the International Labor Organization (ILO) ), in the framework of the next General Assembly of the United Nations.

The Brazilian leader affirmed that Biden’s policies and speeches about the world of work “sound like music” to his ears and he has been confident that together they can inspire other leaders to take an interest in labor issues.

K. Tovar

Source: Bancaynegocios

(Reference image source: Markus Spiske, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Lula and Biden spoke about climate change apareció primero en Bitfinance.

The president of Brazil, Luiz Inácio Lula da Silva, signed the cryptocurrency law. It will enter into force on June 20, with the Central Bank as the regulatory entity.

The signing of the long-awaited law was carried out by the president of the nation in the company of the Minister of Economy, Fernando Haddad, as well as the president of the BCB, Roberto Campos Neto. Although it had already been approved by Jair Bolsonaro in November 2022, it went through several revisions until its official signature by the current president.

The main entity that will monitor the crypto market is the Central Bank of Brazil, but it will work together with the National Securities Market Commission in everything related to cryptocurrencies, blockchain technology, Web3, among others.

“Among the powers that the Central Bank will have is to authorize which companies will be able to operate or not in the local market. It will also have the responsibility of supervising the operation of the sector and regulating the provision of services with “virtual assets” (definition used in the law to refer to cryptocurrencies)”, quotes Diario Bitcoin.

Reactions from local cryptocurrency market participants have been positive. And they have stressed that they will continue to work together with official entities to promote investment in innovation and security.

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Lula da Silva signs cryptocurrency law apareció primero en Bitfinance.

The Gross Domestic Product (GDP) of Brazil grew by 1.9 % in the first quarter of the year compared to the previous quarter, while it expanded by 4% compared to the same period in 2022, according to the Brazilian Institute of Geography. and Statistics (IBGE).

The greatest quarterly rise occurred in the primary sector, with an increase of 21.6 % compared to the fourth quarter of 2022. For its part, the service sector grew a slight 0.6 %, while the secondary sector contracted 0.1 %.

This worse performance of the secondary sector is due to the drop in activity in construction (0.8 %) and among transformation industries (0.6 %). Meanwhile, the extractive industry expanded by 2.3 % and the waste management business, by 1.7 %.

From the perspective of demand, household consumption grew by 0.2 % and public spending by 0.3 %. By contrast, gross fixed capital formation fell by 3.4 %. In the external sector, exports had a negative variation of 0.4 %, while imports fell by 7.1 %.

Source: dpa

(Reference image source: Agustin Diaz Gargiulo, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil’s GDP grew by 1.9 % in the first quarter of the year apareció primero en Bitfinance.

The International Monetary Fund (IMF) stated that it “firmly” supports the commitment of the Lula da Silva government to improve Brazil’s fiscal position, while encouraging the country to continue promoting its “ambitious” agenda to achieve a more sustainable, inclusive and green economy.

This is clear from the conclusions of the technical staff of the IMF after their visit to Brazil for the preparation of ‘Article IV’, in which some recommendations have been made to carry out a fiscal effort that continues beyond 2026 to put the debt on a “firmly declining” path, while protecting social investment and spending.

“Improving the fiscal framework, broadening the tax base, and addressing spending rigidity would support sustainability and credibility, while providing flexibility, even for new spending priorities,” the Fund said.

On the other hand, the technical team urged taking advantage of opportunities for greener growth, such as the “considerable” effect that Brazil’s competitive advantage in renewable energy would have.

In this sense, the IMF has also shown its support for the authorities plans to strengthen climate resilience, stop illegal deforestation and decarbonize the economy.

K. Tovar

Source: Notiamerica

(Reference image source: Raphael Nogueira, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada The IMF supports Brazil’s tax reform apareció primero en Bitfinance.

The initiative of the ILO Global Coalition for Social Justice was the focus of the meeting between the organization’s director general, Gilbert Houngbo, and the president of Brazil, Luiz Inácio Lula da Silva, which took place this week and whose objective is to elevate the political debate on social justice to address the challenges affecting the world of work.

“My ambition is that within five years, the debate on social justice will be like it is today on climate change, human rights and the end of discrimination. We need to integrate all dimensions of social justice into politics,” Houngbo said.

For his part, President Lula has stated that Brazil’s contribution at the international level must be based on authorized national policies to eradicate hunger and extreme poverty and promote employment.

In addition to meeting with Lula, Houngbo has spoken with the Minister of Labor and Employment of Brazil, Luiz Marinho, and with the Minister of Development and Social Assistance, Family and Fight against Hunger, Wellington Dias. His discussions have included topics such as working conditions, child labor and forced labor, decent work in the platform economy and South-South cooperation.

ILO highlights Brazil’s work on labor legislation

Precisely, the head of the ILO has recognized and thanked Brazil for promoting decent work through South-South and Triangular Cooperation. Since the Brazil-ILO program began in 2009, 35 countries in Africa and Latin America and the Caribbean have benefited from Brazil’s cooperation.

Houngbo also spoke with representatives of the six main unions and the five main employer confederations in Brazil. Their discussions touched on social dialogue, labor legislation and informality, among others.

In addition, the ILO Director General met with the President of the Supreme Labor Court (TST) of Brazil, Lelio Bentes, to discuss Brazil’s efforts to eradicate forced and child labor and highlight the importance of social protection.

Houngbo’s visit to Brasilia coincided with the start of celebrations to mark the 70th anniversary of the ILO’s presence in Brazil, one of the founding members of the ILO and the first Latin American country to host an ILO regional office.

Our DG @GilbertFHoungbo met President @LulaOficial in #Brazil and extended to him the ILO invitation to co-lead the planned Global Coalition for Social Justice. They discussed the key role of the Global South and Brazil in promoting #SocialJustice.

📷: @ricardostuckert pic.twitter.com/FoH1qAiG9v

— International Labour Organization (@ilo) April 19, 2023

Source: dpa

(Reference image source: ILO, Europa Press / dpa)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil and the ILO discussed social justice and labor equity policies apareció primero en Bitfinance.

The President of Brazil, Lula da Silva, once again insisted that interest rates at 13.75 % continue to be “very high” and are detrimental to businessmen who want to increase their investments in the country, being perceived as a figure that goes against the country and the poorest population.

“They are making fun of Brazil, of the poor and of the Brazilians who want to invest more,” lamented the president in the middle of his speech to review his first 100 days in office, in a new criticism of the monetary policy of the Central Bank of Brazil, which already has eight months with frozen interest rates.

At the end of March, the body chaired by Roberto Campos Neto once again opted to maintain the rate, even opening up to new increases in the event that the disinflationary process does not finish consolidating. Currently, while waiting to know the data for March, inflation in Brazil is below 6%. When rates were raised to 13.75%, the rate of prices was double.

Not only the president of Brazil criticized this decision. The country’s finance minister, Fernando Haddad, was one of the first to speak out after the latest monetary policy meeting. The economic manager described this attitude of the bank as “worrying”, lamenting that this decision is going to bring more problems for families and companies, at a time when the economy is contracting and a financing crisis is taking place.

Source: dpa

(Reference image source: file)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Lula: “Interest rates are very high” apareció primero en Bitfinance.

The president of Brazil, Lula da Silva, stated that it is “urgent” and “necessary” for Mercosur to reach a trade agreement with the European Union (EU) as soon as possible, in order to address other issues that the trade bloc has, such as the opening to other markets or the negotiation of a treaty with China.

In a press conference with the President of Uruguay, Luis Lacalle Pou, the Brazilian president said that this agreement with Brussels has been in limbo for years, and was already a matter of discussion in his second term as president, more than seven years ago.

The EU trade agreement with the Mercosur countries, Argentina, Brazil, Paraguay and Uruguay, was agreed upon by the parties several years ago, but its ratification is at a standstill due to the reservations of several member states, led by France.

Precisely this week, the President of the European Council, Charles Michel, as part of his official visit to Argentina, has urged Lula to “take advantage” of the new political scenario in Latin America and the impulse of the European Union with the region to finalize the agreement trade with Mercosur countries.

K. Tovar

Source: France24

(Reference image source: Sputnik)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil calls for an agreement between Mercosur and the EU apareció primero en Bitfinance.