International
Petrobras shares fall after Bolsonaro fires its boss
AFP
The price of shares in Brazil’s state oil giant Petrobras fell Tuesday in reaction to President Jair Bolsonaro firing its boss after only 40 days on the job.
Bolsonaro dismissed Petrobras CEO Jose Mauro Coelho on Monday in a tug-of-war over rising fuel prices, which are set by Petrobras but tied to international market movement.
Petrobras shares lost more than four percent in afternoon trade on the Sao Paulo Stock Exchange, before recovering somewhat to 2.85 percent lower than Monday’s worth.
The movement reflects investor concerns of a possible intervention by the State, the main shareholder in Petrobras, in its autonomous pricing decisions.
Coelho took over last month for what should have been a one-year term. He became the company’s third CEO in just over a year after Bolsonaro also fired his predecessors.
Fuel prices in Brazil have risen more than 33 percent in the past year, according to official figures, driving annual inflation of more than 12 percent and hurting Brazilians’ wallets in an election year.
The far-right Bolsonaro trails leftist ex-president Luiz Inacio Lula da Silva in opinion polls ahead of elections in October.
Brazil’s Ministry of Mines and Energy announced Coelho’s dismissal, saying the country was “experiencing a challenging moment, due to the effects of the extreme volatility of hydrocarbons in international markets.”
The government has proposed for Coelho to be replaced by Caio Mario Paes de Andrade, an official in the Economy Ministry.
He must be confirmed by the company’s board of directors.
Earlier this month, Bolsonaro also replaced his longtime energy minister, Bento Albuquerque, days after Petrobras reported record quarterly profits.
Bolsonaro said those profits amounted to “rape,” and called on Albuquerque and Coelho to stop Petrobras from raising prices.
Petrobras went on to hike diesel prices by an additional 8.9 percent.
International
Colombia reaches $4.5 billion deal to acquire 17 Gripen Fighter Jets from Saab
The Colombian government has finalized a negotiation agreement with the Swedish company Saab for the purchase of 17 SAP-39 Gripen fighter jets, valued at more than $4.5 billion, according to local media reports.
Colombian outlets indicated that payments are scheduled to begin in 2026, starting with an initial installment of 100 billion Colombian pesos. However, the aircraft will be delivered between 2027 and 2032, when the final jet is expected to arrive in Colombia.
This new contract represents the second-largest public purchase made by Colombia so far this century, surpassed only by the investment in the Bogotá metro system, local media noted.
The agreement is expected to be officially signed during the ceremony commemorating the 216th anniversary of the Colombian Aerospace Force, to be held in Cali on November 14 of this year.
International
Venezuela accuses U.S. of using Naval Deployment to pressure Maduro government
The world’s largest aircraft carrier, the USS Gerald R. Ford, joined the U.S. Navy’s anti-drug operation in Latin America on Tuesday—a deployment Venezuela has condemned as an attempt to pressure President Nicolás Maduro from power.
In a statement, the U.S. Southern Command confirmed that the carrier, ordered to deploy nearly three weeks ago, has entered its area of responsibility, which includes Latin America and the Caribbean.
“The world’s largest aircraft carrier will strengthen the United States’ ability to detect, monitor, and dismantle illicit actors and activities that threaten the security and prosperity of U.S. territory and our safety in the Western Hemisphere,” said Pentagon spokesperson Sean Parnell.
According to the White House, the U.S. government under Donald Trump has carried out about twenty operations in the Caribbean and the Pacific since early September, resulting in the deaths of 76 suspected drug traffickers.
However, U.S. authorities have not yet presented evidence that the targeted vessels were being used for drug trafficking or posed a direct threat to the country.
The operations have raised concerns in Caracas, where the Maduro administration views the deployment as a strategic move aimed at provoking regime change in Venezuela.
International
Venezuela mobilizes forces nationwide as tensions with U.S. rise
Venezuela’s armed forces launched a “massive” nationwide deployment on Tuesday in response to what the government calls “imperialist threats” from the United States, which continues its anti-drug military operation in the region and is preparing for the arrival of its most advanced aircraft carrier.
Since late August, U.S. forces have maintained a growing presence in the Caribbean to combat alleged drug trafficking originating from Colombia and Venezuela. The operation has resulted in the bombing of 20 vessels in international waters in the Caribbean and Pacific, leaving 76 people dead.
Venezuelan authorities claim the U.S. mission is aimed at toppling President Nicolás Maduro. While insisting he seeks peace, Maduro has repeatedly warned the country is prepared to defend itself and has frequently showcased military activities.
A statement from Venezuela’s Defense Ministry said the deployment includes land, air, naval, river and missile systems; armed forces units; the Bolivarian militia; and additional police, military and civilian defense structures.
State broadcaster VTV aired speeches from military leaders in various states, along with images of troops mobilizing and equipment being positioned.
However, analysts note that these frequent and highly publicized announcements do not always lead to visible operations on the ground.
On Monday, Maduro cautioned that Venezuela has the “strength and power” to respond to any aggression, including mobilizing civilians. “If imperialism were to strike and do harm, from the moment the order is given, the entire Venezuelan people would mobilize and fight,” he warned.
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