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.

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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.

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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.

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International

MEPs Approve Plan That Could Fast-Track Rejection of Some Asylum Claims

With an overwhelming majority of 408 votes in favor, the European Parliament backed the creation of a list of safe countries of origin for asylum seekers.

People coming from Colombia, Egypt, India, Bangladesh, Kosovo, Morocco and Tunisia who apply for asylum in the European Union could see their requests rejected on the grounds that the bloc’s 27 member states consider those nations safe. Applicants would have to prove their individual circumstances, showing evidence of persecution or specific risks if they were to return.

At the same time, while their applications are processed or their return is arranged, migrants could be transferred to third countries outside the EU if the bloc has an agreement with them, if the individuals previously transited through those nations, or if they have family or cultural ties there. The measure provides legal cover for the creation of processing centers beyond EU territory, similar to an initiative previously pursued by Italian Prime Minister Giorgia Meloni in Albania.

Tuesday’s vote reflects the tightening of European migration policy in recent years, despite asylum applications having fallen by more than 20% last year and the issue not ranking among citizens’ top concerns, according to recent surveys.

International

Chile Unveils Latam-GPT to Give Latin America Its Own AI Model

Chile on Tuesday launched Latam-GPT, an initiative aimed at providing Latin America with its own artificial intelligence model in a field largely dominated by U.S. companies, while seeking to reduce biases identified in existing systems.

The project is led by Chile’s National Center for Artificial Intelligence (CENIA), a private corporation funded with public resources.

Latam-GPT is backed by universities, foundations, libraries, government agencies and civil society organizations from across the region, including Chile, Uruguay, Brazil, Colombia, Mexico, Peru, Ecuador and Argentina.

“Thanks to Latam-GPT we are positioning the region as an active and sovereign player in the economy of the future. We are at the table — we are not on the menu,” President Gabriel Boric said during the presentation of the initiative on national broadcaster Televisión Nacional.

The tool aims to break down prejudices and prevent Latin America from being portrayed as a single, uniform reality, Chile’s science minister, Aldo Valle, told AFP.

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The region, he added, “cannot be merely a user or passive recipient of artificial intelligence systems. That could result in losing a significant part of our traditions.”

Despite its name, the initiative is not an interactive chatbot. Instead, it is a large regional database trained on Latin American information that can be used to develop technological applications, the minister explained.

International

Mexico Rises Slightly to 141st in Global Corruption Perceptions Index 2025

Mexico improved by one point in its rating and climbed to 141st place in the 2025 Corruption Perceptions Index (CPI) published Tuesday by the anti-corruption organization Transparency International, which gave the country a score of 27 out of 100.

The slight increase in score comes after Mexico recorded its lowest CPI result in history in 2024 during the final year of former President Andrés Manuel López Obrador’s term, also scoring 27 out of 100. The CPI is widely regarded as the main global measure of perceived public-sector corruption, where 0 represents high corruption and 100 denotes very low corruption.

Within the region, Mexico ranks above only Guatemala (26), Paraguay (24), Honduras (22), Haiti (16), Nicaragua (14) and Venezuela (10), but trails key economic peers such as Brazil (35) and Chile (63).

Among the 38 member countries of the Organisation for Economic Co-operation and Development (OECD), Mexico ranks last. In the G20 grouping, it sits in the penultimate position, ahead of only Russia. Experts say Mexico’s persistently low score reflects ongoing challenges in curbing corruption and protecting public funds.

Transparency International’s report also highlights structural corruption issues that have allowed organized crime to infiltrate politics and weaken governance, as well as risks to journalists covering corruption.