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

Spain’s irregular migrant population rises to 840,000, study finds

The number of migrants living in Spain without legal residency status continues to rise and has reached 840,000 people, with 91% originating from the Americas, particularly Colombia, Peru and Honduras, according to a report by the Spanish think tank Funcas (Foundation of the Savings Banks).

An estimated 17.2% of the non-EU foreign population living in Spain is in an irregular administrative situation. The estimate is based on the gap between the number of foreign residents effectively living in Spain, according to the National Statistics Institute (INE), and those who hold a residence permit, benefit from international protection, or are in the process of obtaining it.

The data, as of January 1, 2025, point to a notable and sustained increase in irregular migration since 2017, when the estimated figure stood at around 107,000 people, representing 4.2% of the non-EU population residing in Spain.

By origin, migrants from the American continent stand out, totaling around 760,000 people, or 91% of all irregular migrants. Colombians account for nearly 290,000, followed by Peruvians with almost 110,000, and Hondurans with about 90,000. Migrants from Africa (50,000), Asia (15,000) and Europe (14,000) trail far behind.

The figures predate Spain’s latest immigration regulation reform, which came into force in May 2025 and introduces measures to ease access to legal status through residency ties. According to Funcas, the reform would, in principle, tend to reduce the number of migrants in an irregular situation.

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International

Historic snowstorm paralyzes Toronto after 60 centimeters of snow

Toronto, Canada’s largest city and the fourth most populous in North America, was largely paralyzed on Monday after a historic snowstorm dumped up to 60 centimeters of snow and sent temperatures plunging to -15 degrees Celsius, authorities said.

Late Sunday, as the scale of the snowfall became clear, city officials declared a climate emergency, triggering extraordinary measures including parking bans on several major streets to facilitate snow removal operations.

Toronto’s public transit authority reported that while some buses remain immobilized, subway and streetcar services are operating with relative normality, though localized disruptions may occur.

A similar situation is affecting the city’s commuter rail network, which remains operational but is experiencing significant delays on its main routes due to the severe weather conditions.

International

Venezuela frees at least 80 political prisoners, NGO says

At least 80 political prisoners were released on Sunday across Venezuela, human rights group Foro Penal reported, as the broader process of detainee releases continues at a slow pace under the interim government.

Foro Penal’s director, Alfredo Romero, wrote on social media platform X that verified releases took place nationwide and that the figure could rise as more confirmations are completed.

Attorney Gonzalo Himiob, also from Foro Penal, said the excarcelations occurred during the early hours of the day and emphasized that the number is not yet final pending further verification.

The releases are part of a series of steps announced by Venezuela’s interim leader, Delcy Rodríguez, who took power after the capture of former President Nicolás Maduro in a U.S. military operation on Jan. 3, 2026. Rodríguez has pledged a significant number of liberations but has been criticized by opposition groups and rights organizations for the slow and nontransparent nature of the process.

So far, the Venezuelan government reports that 626 detainees have been freed since December, though independent counts by human rights groups suggest the number of actual political prisoner releases is lower and that many remain behind bars.

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Families of those still detained have maintained vigils outside prisons, hopeful for further releases even as broader concerns about political imprisonment and due process persist.