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
Cuba accuses U.S. of pressuring countries ahead of UN vote on embargo
The Cuban government on Wednesday accused the United States of exerting “intimidating and deceptive pressure” on third countries to vote against the annual UN General Assembly resolution calling for an end to U.S. sanctions on the island.
In a statement to the international press, Cuban Foreign Minister Bruno Rodríguez claimed that Havana possesses “reliable information” about Washington’s efforts to pressure countries in Latin America and Europe ahead of the vote.
The non-binding resolution, presented every year by Cuba since 1992, has consistently received overwhelming supportfrom the international community — with 187 votes in favor and only two against (the U.S. and Israel) in recent years. The next vote is scheduled to take place on October 28.
Rodríguez described the resolution as a diplomatic victory for Cuba despite its lack of practical effect, and asserted that his government had obtained U.S. documents sent to other nations urging them to “change their historical position” on the issue.
According to the foreign minister, the United States has allegedly “coerced allied nations” in recent weeks using tactics such as visa denials, trade tariffs, and pressure on private companies.
He further stated that in two written communications, dated October 8 and 17, Washington explicitly urged the recipients to “reject” the Cuban resolution “in accordance with applicable legal measures.”
Central America
U.S. and Panama hold joint jungle exercises to strengthen security ties
U.S. and Panamanian security forces carried out joint exercises in Panama’s jungle on Wednesday, focusing on the exchange of specialized knowledge as part of renewed bilateral cooperation in security and defense, according to official statements.
Joint operations between the two nations—Panama, which has had no standing army since 1990, and the United States—have been frequent since the 1989 U.S. invasion. The latest drills come after both countries renewed their security cooperation last April through a memorandum of understanding, which initially sparked some controversy in Panama due to provisions allowing greater temporary and rotational U.S. military presence.
The exercises also coincide with an unprecedented U.S. military deployment in the Caribbean, part of Washington’s expanded anti-narcotics campaign, which it links to Venezuelan President Nicolás Maduro’s government—currently the target of a $50 million U.S. reward offer.
“We are simply focused on creating mutual understanding and shared experiences that can be beneficial for both countries, Panama and the United States,” said U.S. Colonel Ada Cotton during a press briefing.
The U.S. contingent, composed of Marines and an Army officer, participated at the invitation of the Panamanian government, which, according to Cotton, “has clearly defined what we can and cannot do” during the training exercises.
International
Colombia conducts nationwide emergency drill focused on hidroituango dam
Colombians took part on Wednesday in the National Emergency Response Drill, an exercise aimed at enhancing citizens’ ability to react to risk situations and promoting a culture of prevention.
According to the National Unit for Disaster Risk Management (UNGRD), the drill was conducted throughout the country.
This year’s main focus was Hidroituango, Colombia’s largest hydroelectric power plant, located in a mountainous canyon in the municipality of Ituango, in the northwestern department of Antioquia.
The head of the UNGRD, Carlos Carrillo, oversaw the exercise at Hidroituango, which is powered by the Cauca River, the country’s second most important waterway after the Magdalena.
“We simulated a rise in the Cauca River’s water level,” Carrillo explained, noting that evacuation sirens sounded at 7:30 a.m. local time (12:30 GMT) and that five municipalities upstream and five downstreamtook part in the drill.
Personnel operating the hydroelectric plant’s machinery also evacuated their work areas as part of the exercise.
Carrillo emphasized that the data collected during the simulation will be crucial to assess and strengthen the response capabilities of local governments and communities.
Cuba accuses U.S. of pressuring countries ahead of UN vote on embargo
U.S. and Panama hold joint jungle exercises to strengthen security ties
Colombia conducts nationwide emergency drill focused on hidroituango dam
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
Extension of the state of emergency approved in southern Chile
-
International5 days agoMillions to join “No Kings” march in U.S. amid Trump’s growing authoritarian backlash
-
International5 days agoMaría Corina Machado: “Venezuela is closer than ever to regaining freedom”
-
Central America2 days agoWhite House targets Nicaragua over human rights and labor violations
-
International3 days agoU.S.-Colombia Tensions Escalate as Trump Ends Subsidies, Criticizes Petro
-
International2 days agoThe Chief Builder: Trump and his remodeling of the White House
-
International2 days agoTrump warns Hamas that they will be “eradicated” if they break the ceasefire with Israel in Gaza
-
International2 days agoJoe Biden finishes prostate cancer radiotherapy at Penn Medicine
-
International2 days agoVenezuela accuses U.S. of using anti-drug operations as pretext to target Maduro
-
International13 hours agoUruguay’s Orsi and Tony Blair discuss AI cooperation and child poverty policies
-
International2 days agoZelenskyy: Meeting with Trump “Positive” Despite Rejected Missile Request
-
International2 days agoTrump assures that Ukraine could still “win” the war
-
International2 days agoTrump says Venezuela is ‘feeling the heat’ amid U.S. anti-drug operations in the Caribbean
-
International2 days agoThe United States investigates why a Waymo autonomous vehicle did not respect a stop sign
-
International2 days agoCosta Rica hails appointment of Japan’s first female Prime Minister, Takaichi Sanae
-
International12 hours agoColombia conducts nationwide emergency drill focused on hidroituango dam
-
International2 days agoMexico and the US launch an unprecedented joint border plan to stop arms trafficking
-
Central America12 hours agoU.S. and Panama hold joint jungle exercises to strengthen security ties
-
International12 hours agoCuba accuses U.S. of pressuring countries ahead of UN vote on embargo
-
International2 days agoColombian court overturns ex-president Uribe’s conviction for witness tampering