Brazilian airline Gol Linhas Aereas Inteligentes reported on Tuesday a net loss of 884.6 million reais ($160.54 million) for the third quarter as traffic remained below pre-pandemic levels, Reuters reported. That compared with a loss of 872 million reais a year earlier and the company said that while demand for air travel continued to pick up in Brazil, it has still only reached 53% of pre-pandemic levels.

Brazilian President Jair Bolsonaro said on Monday that dealing with high fuel prices in the country is his top priority right now, adding that he sees the privatization of state-run oil company Petrobras as an "ideal" move, Reuters reported. Bolsonaro told reporters during a visit to Anguillara Veneta, in Italy, that he was "unofficially" told that Petroleo Brasileiro SA - as the company is formally known - is expected to raise fuel prices at the refineries again in about 20 days. "Every bad thing that comes from Petrobras is my fault...

Brazil’s central bank is poised to deliver its biggest interest rate hike in nearly two decades as plans for greater public spending risk jeopardizing efforts to bring inflation down to target, Bloomberg News reported. Most economists agree on the need to step up an already aggressive monetary tightening campaign, but are divided over how dramatic the increase will be. The majority of the 49 analysts surveyed by Bloomberg expect the benchmark Selic to jump by 150 basis points to 7.75%.

Brazilian President Jair Bolsonaro reiterated on Monday that he is considering the privatization of state-run oil company Petrobras , boosting its shares along with news of a fresh price hike in the domestic gasoline and diesel market, Reuters reported. "This is on our radar," the far-right president said during a radio interview.

Truckers blockading a major refinery in the Brazilian state of Minas Gerais disbanded on Friday, allowing fuel supplies to normalize in the nation's second most populous state, Reuters reported. The protesters, principally truckers who deliver fuel, had been demanding a decrease in taxes on diesel. Since Thursday, they had blocked roads near the REGAP refinery near state capital Belo Horizonte, an action that spooked industry leaders and motorists and caused some gas stations in Minas Gerais to run low on fuel.

Jive Investments, Brazil’s largest distressed-asset manager, plans to raise as much as 7 billion reais ($1.3 billion) next year, looking to capitalize on opportunities created by the coming presidential election, Bloomberg News reported. “There may be a credit contraction and less appetite for Brazil among international investors, so we want to be prepared to allocate a lot of investment during this election scenario,” Guilherme Ferreira, a Jive partner, said in an interview.

After two deadly dam disasters that made Vale SA a pariah of the global green movement, Brazil's largest mining company is striving to put the environment and climate at the heart of its business, Chief Executive Eduardo Bartolomeo told Reuters. Bartolomeo, speaking in an interview at the Reuters Impact conference, said the disasters - which killed nearly 300 people and caused huge environmental damage in Brazil - were a wake up call that forced the company to think differently. "I think everybody woke up. I think the incidents, the tragedies, unfortunately pushed us to open up our minds.

State prosecutors in the state of Minas Gerais have filed a lawsuit seeking 2.5 billion reais ($457 million) from miners Vale, Samarco and BHP related to a tailings dam disaster in 2015, according to a statement on Tuesday, Reuters reported. Prosecutors allege that the companies have not fulfilled the obligations outlined in a settlement agreed in 2018, in which the miners agreed to pay damages to the people affected by the disaster. The companies did not immediately respond to requests for comment.

Brazil’s annual inflation has probably peaked in September and is now going to slow to policy makers’ 8.5% estimate by end-2021, according to central bank chief Roberto Campos Neto, Bloomberg News reported. “I think the high is going to be in September,” Campos Neto said at an event organized by Morgan Stanley on Friday, adding that prices tend to “accommodate” going forward. Brazil’s annual inflation surpassed 10% in mid-September for the first time since 2016 as fuel and food prices jumped. Brazil will publish September’s inflation data on Oct.