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

Mexican Navy Ships Deliver Third Shipment of Humanitarian Aid to Cuba

Two logistics support vessels from the Mexican Navy — the ARM Papaloapan and the ARM Huasteco — docked again on Friday in the bay of Havana carrying a third shipment of humanitarian aid for Cuba.

The vessels had previously arrived on the Caribbean island on February 28 with a second cargo that included 1,200 tons of food, sent to help alleviate the country’s ongoing crisis, which has worsened following the U.S. oil restrictions affecting fuel supplies to the island.

Cuba’s deputy foreign minister Josefina Vidal confirmed the new shipment in a social media post.

“Two ships carrying a third shipment of aid from the Government and the people of Mexico for the Cuban people are now arriving at the port of Havana. Thank you Mexico for your solidarity with Cuba,” she wrote.

Previous aid shipments

During the second shipment, the Papaloapan transported 1,078 tons of beans and powdered milk, while the Huastecocarried 92 tons of beans and 23 tons of assorted food products collected by social organizations with support from the government of Mexico City.

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In recent months, Mexico has become the largest provider of humanitarian aid to Cuba, sending around 2,000 tons of supplies, mostly staple foods and hygiene products, in the two shipments prior to Friday’s delivery.

The first shipment alone included 814 tons of food.

Cuba praises Mexico’s support

Hours before the ships arrived, Cuban President Miguel Díaz-Canel highlighted Mexico’s support during a televised appearance, describing the country as “a friendly and brotherly nation that has shown tremendous solidarity,”particularly praising Mexican President Claudia Sheinbaum.

Díaz-Canel also addressed reports suggesting that Mexican donations were being resold in state-run stores, dismissing them as a “disinformation campaign” promoted by right-wing groups.

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International

Ecuador Declares 60-Day National Emergency After Deadly Floods and Landslides

Ecuador has declared a 60-day national emergency to address the impact of a severe rainy season that has left 11 people dead and more than 50,000 affected since January, the government’s disaster management authority announced Friday.

Prolonged heavy rains accompanied by thunderstorms have caused river overflows and landslides, mainly in the coastal provinces of Guayas, El Oro, Esmeraldas, Los Ríos, Manabí and Santa Elena, as well as in the Andean provinces of Lojaand Chimborazo.

According to the Secretariat for Risk Management of Ecuador, the emergency declaration was issued “due to the level of impact caused nationwide on the population, the road network, infrastructure, and livelihoods.”

“The emergency declaration is aimed at responding to the effects and negative impacts and preventing their further spread,” the agency said in a statement.

International

Trump Pushes for Regime Change in Cuba as Havana Confirms Talks With Washington

U.S. President Donald Trump has made no secret of his desire for political change in Cuba, located just 150 kilometers from the United States. Washington considers the island an “exceptional threat,” citing its close ties with Russia, Chinaand Iran, longtime allies of Havana.

Trump has urged Cuba to “reach a deal” with Washington or face consequences, as the island struggles with a severe energy crisis that has nearly paralyzed its economy after the United States cut oil shipments from Venezuela, its main fuel supplier. The U.S. has also warned other countries against selling fuel to Havana.

Cuban President Miguel Díaz-Canel confirmed that Cuban officials have recently held talks with representatives of the U.S. government. The statement came during a meeting with senior members of the ruling Communist Party of Cuba and the executive committee of the Council of Ministers, according to footage broadcast on Cuban television.

“These conversations have been aimed at seeking solutions through dialogue to the bilateral differences that exist between our two nations,” Díaz-Canel said.

Reports of intermediaries and possible negotiations

According to television images, among those attending the meeting was Raúl Guillermo Rodríguez Castro, grandson of former Cuban leader Raúl Castro. Although he holds no official government position, U.S. media have identified him as a possible interlocutor with U.S. Secretary of State Marco Rubio in what have been described as secret discussions between Washington and Havana.

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For some Cubans, any potential agreement with Washington is viewed pragmatically. “As long as it benefits us, we can reach an agreement — but on our terms,” said Sergio Guerra, a 55-year-old agricultural vendor, speaking to AFP.

Díaz-Canel’s remarks confirm earlier statements by Trump, who indicated in January that his administration had already begun contacts with senior Cuban officials.

Mexico calls for diplomacy

Meanwhile, Mexico welcomed the possibility of dialogue after recently sending more than 2,000 tons of humanitarian aid to Cuba to help mitigate the crisis.

Mexican President Claudia Sheinbaum said her country would always promote peace and diplomatic dialogue, particularly in response to what she described as the long-standing injustice of the U.S. embargo on the Cuban people.