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Bolsonaro's Ministerial Reshuffle Confirmed

BRAZIL
  • Senator Ciro Nogueira, a leader of the centre-right Progressives Party(PP), tweeted on Tuesday that he has accepted the job and is expected to be sworn in this week as Bolsonaro's chief of staff. The move is believed to be an attempt to shore up support in Congress in the face of deteriorating popularity and growing outrage over his handling of the pandemic.
  • Brazilian miner Vale is set to post a second-quarter EBITDA of $11.98 billion, the highest since at least 2010, with soaring iron-ore prices outweighing higher costs during the period. Last week, the company reported output data that missed estimates, though analysts still expect the 2021 guidance to be met and see room for additional extraordinary dividends ahead. (BBG)

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