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Brazil’s Oil Industry Shocks Could Ruin Its Economy | Instant News

Following the dismissal of the CEO of Brazil’s state-controlled oil group Petrobras by President Bolsonaro earlier this week, experts fear greater intervention might be underway in the country’s oil industry.

The removal of CEO, Roberto Castello Blanco, from his position at the head of Petrobras followed a conflict with the President over rising energy prices. Concern that rising diesel prices would lead to protests led Bolsonaro to oppose the Petrobras price hike under Castello Blanco.

President Bolsonaro quickly replaced Castello Blanco with former Defense Minister Joaquim Silva e Luna, who had no previous experience in the industry. However, the outspoken former CEO hit back, warning that state intervention policies could place artificial limits on fuel prices. Castello Blanco explained“If you want to have a market economy, you have to have a market price. The prices below have many consequences, some are predictable and others are unpredictable, but all of them are negative, ”.

The former CEO seemed like it too makes a statement in her wardrobe choices, wearing a t-shirt with the slogan “Mind the Gap”. This reflects the Petrobras 2019 slogan, which refers to its goal of closing performance gaps with leading oil and gas companies around the world. More state intervention is expected to further widen this gap.

Following the change of leadership, Petrobras’ stock plummeted, losing 20 percent of its value Monday, about $ 13 billion. This also had a negative impact on the Brazilian currency, which fell by 2 percent in value.

Related: How High Can Oil Go?

This is not the first time Brazil’s oil industry has struggled with state intervention. Petrobras is on the brink of filing for bankruptcy under former President Dilma Rousseff, easing fuel prices that are wreaking havoc on the industry.

Currently, Brazil pegs its oil prices to international prices, but because the country owns 36.8 percent of shares in Petrobras, and 50.5 of the votes, Bolsonaro holds the card for fuel prices.

Although the president has assured the public that his actions are not the same as ‘interference’, based on previous fuel subsidies by the state, international investors are unsure of the president’s intentions.

With elections set to take place in 2022, Bolsonaro is trying to win public support from major demographics. Reducing fuel costs could significantly affect thousands of truck drivers, who protest against rising fuel costs.

That The President also signaled greater intervention in the energy sector over the next few weeks, this time with a focus on electricity. “If the press is worried about yesterday’s transition [in CEO], next week there will be more, “he said. “We will stop the electricity, which is also a problem”.

However, larger interventions in the energy sector could discourage foreign investment in the country. After being hit badly by the Covid-19 pandemic, this is a worrying prospect for the Brazilian economy.

James Gulbrandsen, head of investment for Latin America at NCH Capital declared moved“If Bolsonaro interferes with the pricing of electricity, it might end his ability to attract foreign capital,”.

Castello Blanco has won national and international support for Petrobras, reduced corporate debt, pushed for greater independence, and made the company attractive to a growing oil market such as India. We are yet to see if Silva e Luna will earn the same respect.

By Felicity Bradstock for Oilprice.com

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PM Imran Khan shares plans to increase tourism in Pakistan | Instant News

Photo of Prime Minister Imran Khan – Files

FORT NANDANA, JHELUM: Prime Minister Imran Khan on Sunday presented the government’s plan to boost tourism in Pakistan and said that the tourism industry has great potential to provide jobs for the people.

Based on Geo.tv, the prime minister spoke to reporters in Multan following the inauguration of Radius Al-Biruni – a tourism project developed to revive the country’s heritage.

The PM said Pakistan has three tourism areas in Pakistan – mountains, sea and coastlines – adding that ancient sites are also very important in terms of tourism for the country.

“The world is fascinated by places like Mohanjo Daro and Harappa, while Fort Nandana was the largest university of its time,” said the prime minister.

He added that the famous Muslim scientist Al-Biruni conducted experiments to measure planets while working at Nandana Fort.

“This is a place of arrival of tourists from all over the world, that’s why we decided to develop this pilot village,” he said while telling the government’s plans for the future.

“Arrangements will be made for tourists to stay here, therefore, hotels and resorts will also be built under a public-private partnership,” said the prime minister.

He added that soon, the small village “will be on the world map”.

Citing the example of Turkey and Malaysia, the PM said that the tourism sectors of these countries were also thriving based on their ancient sites.

“Pakistan is also full of ancient tourist sites like Turkey. We have remnants of the Mughal civilization in Pakistan but, unfortunately, the previous government was unable to develop these sites properly.”

He said that Turkey generates $ 40 billion annually from tourism, while Malaysia generates $ 20 billion from marine tourism.

“Despite having the same potential, Pakistan is getting nothing compared to Turkey and Malaysia,” said the prime minister.

[Aside from contributing to the economy], tourism can also be “Pakistan’s biggest source of employment,” he said. “Because of this, the PTI government has decided to give full support to the community at the village level.”


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Leonardo Italia lists its DRS subsidiary on the New York Stock Exchange | Instant News

In a statement Friday, the company said it had submitted a “proposed initial public offering of minority shares” with the US Securities and Exchange Commission, and hoped the process would be completed by the end of March.

“By retaining our majority shareholding, we intend to maintain significant exposure in this strategically important market, while continuing to enhance the relationships that have existed for all of Leonardo’s businesses,” Leonardo CEO Alessandro Profumo the word.

Leonardo said he had yet to determine what shares in the company would be listed, with press reports showing between 20 and 30 percent.

A mid-level defense electronics company supplying the US military, DRS lists its main product lines as sensing, electronic warfare, cybersecurity, network computing, communications, power protection, and electric power conversion and propulsion. Leonardo bought the company in 2008 for $ 5.2 billion, setting up a proxy agreement with the US government to allow the company to work on sensitive programs.

“A new proxy agreement is anticipated to be signed with the US Department of Defense to allow Leonardo DRS to continue competing and appearing on top secret programs,” Leonardo said in a statement.

An initial public offering would free up much-needed cash for Leonardo, who saw his debt rise in the first nine months of 2020 to € 5.88 billion (US $ 7.17 billion) from € 4.3 billion in the same period in 2019.

As for DRS, in the first nine months of 2020, the company saw revenues of $ 1.93 billion, up 6 percent year-on-year, driven by additional orders for the production of a new-generation U.S. Army mission command compute system and orders for propulsion control, panels and equipment for ships CVN 80 and CVN 81 for the US Navy.

In 2019, the New Jersey-based company had full-year revenue of $ 2.7 billion, up 17 percent year-on-year.


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10 Spring Hair Trends Fashion Women Have Been Wearing | Instant News

We’re going into 2021, and already, some are busy beauty trends it’s starting to come off. TikTok has dictated many of them, from such unexpected skin care practices slugging into makeup fashions like adding blush to our noses. But when you arrive hair, fashion sets are always at the forefront. Could it be that fashion intelligence and great hair go hand in hand? We will wait for the research on this theory to surface, and until then, we will continue to look for our favorite fashion girl to tell us how to style our hair.

As we looked forward to warmer weather and, hopefully, geared up for more positive changes in our daily happenings, we thought it would be wise to consult some of the leading celebrity hairstylists for a little insight into the spring hair trends set to take over. in 2021. Keep scrolling to learn about the 10 trends they love the most along with mood board inspirations from some of our favorite fashion girls.


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Looking For Food, Water In Greater Houston? Here’s List A (Saturday, February 20) – Houston Public Media | Instant News

Water donations were distributed to residents, Thursday, February 18, 2021 in Houston. Houston and several surrounding cities are on boiling water warnings as many residents still have no running water in their homes.

Electricity was back on for nearly all residents of the Houston area. Midpoint Energy reported that 99.98% of local customers had service after fixing yesterday’s isolated outage.

But even though the temperature rose today, Houston still wasn’t out of the woods.

The majority of Harris County is still under scrutiny of boiling water and residents are being told to save electricity usage.

Below is a list of free resources in the Harris, Fort Bend, Montgomery and Galveston counties to help you or someone you know get through the weekend.

Harris County

  • Houston Food Bank Partners – Call first to make sure they’re open.
  • Church At The Cross 3835 S Dairy Ashford Road, Westchase. Opens at 8:30 am Free water and food
  • West Houston Relief Service, 10501 Meadowglen Lane, Westchase. Opens at 9 am Free water and food
  • Wisdom High School, 6529 Beverly Hill St, Mid-west. Open 12.00-15.00 Free food for 1,000 people via food truck
  • Sylvan R. Rodriguez Elementary, 5858 Chimney Rock Dr., Gulfton. Open 12.00-15.00 Free food for 1,000 people via food truck
  • Ashford Elementary, 1815 Shannon Valley Dr, Briarforest. Open 12.00-15.00 Free food for 1,000 people via food truck
  • 8921 Pagewood Ln, Mid-west. Opens at 3pm Free food and water
  • Jersey Mikes, 7670 Katy Freeway, Spring Branch. Open now until 9pm Hot food for 300 people
  • Jimmy Changas, 3090 Westgreen Boulevard, Katy. Open 11.00-21.00 Hot food for 300 people
  • Rollin ‘Phatties, 1731 Westheimer Road, Montrose. Open Day-Midnight. Hot food for 375 people
  • Breakfast Club, 3711 Travis St., Midtown. Free meal for 200 people
  • Fallbrook Church, 12512 Walters Road, Meyer Park. Open during the day. Free water
  • At Da House Tapioca, 9405 S. Texas 6, Alief. Open 2pm – 4pm Free food
  • Astros Youth Academy, 2801 S. Victory Drive, Inwood Pines. Open 9 am-2pm Free water (limit 2 cases per car)
  • New Light Church-LOVE City USA, 7317 E. Houston Road, Trinity / Houston Gardens. Opens at 9:30 am Free bottled water
  • 6603 Hirsch Road, Trinity Park / Houston. Open during the day. Free food, water and supplies
  • St. Timothy’s Episcopal Church, 13125 Indianapolis St., Cloverleaf, 24/7, Free groceries
  • Grayson Community Center, 13828 Corpus Christi St., Cloverleaf. Opens at 10 am Free food
  • Precinct 2 site water is non-potable, Open now until 5pm. Five gallon limit (bring containers such as water / milk jugs, ice crates, buckets):
    • Sylvan Beach Park: 636 N Bayshore Dr., La Porte
    • Clear Lake Park, 5001 NASA Pkwy, Seabrook
    • Jim & Joann Fonteno Park, 14350 1/2 Wallisville Rd., Wood Forest
    • Bill Crowley Park, 5100 Lauder Rd., East Aldine
    • Crosby Community Center, 409 Hare Rd., Crosby
    • Riley Community Center, 808 1/2 Magnolia Ave., Crosby
    • Leonel J. Castillo Community Center, 2101 South St, Northside Village.
    • North Coast Playground, 14000 Force St, North Coast.
  • Precinct 4 site water is non-potable, Open from noon to 5pm, limit 10 gallon (bring container):
    • Levy Park, 3801 Eastside St., Upper Kirby

Fort Bend County

  • Food & Water Distribution Fort Bend County, 910 Brand Lane, Stafford. Open 9am to noon. Free food and water

Montgomery County

  • Montgomery Food Bank partners – Call first to make sure they’re open.
  • East Texas Dream Center, 26373 E. Holly Lane, Splendora. Opens at 10 am Free food
  • Magnolia Cowboy Church, 23245 Glenmont Estates Boulevard, Magnolia. Opens at 9 am Free water
  • Magnolia Town Hall, 18111 Buddy Riley Boulevard, Magnolia. Opens at 9 am Free water

Galveston County

  • Hometown Heroes Park, 1001 E. League City Parkway, League City. Opens at 9 am One case of water per vehicle

For Houston people who can’t afford supplies, Mutual Aid Houston offers Finance Assistant $ 100 for anyone who needs food and water. To sign up, keep checking group online form when available.

Crowdsource Rescue is to provide supplies to vulnerable populations who have transportation challenges such as the elderly and people with disabilities. They carry out health checks and deliver water, food, space heating and other supplies.

Store updates and hours of operation for HEB, Central Market, Kroger, Walmart, and Walgreens can be found at ReadyHarris.org under “Searching for Supplies?” Public officials recommend Houston residents to try smaller grocery stores, as they may have short queues. A crowdsourced list of Houston businesses circulating, but check with the location for hours of operation and supplies before traveling. Rolling information about the free food and water event was also busy this spreadsheet.

How to Volunteer

Houston Food Bank is looking for volunteers on its website, and canned donations. Kids Meals Inc. too looking for volunteers and contribution. Gulf Coast Regional Blood Center said desperately need a blood donor. There’s an emergency blood donation at NRG Park. Appointments are preferred, and masks are required. CrowdSource Rescue also looking for volunteers, and Say the Name is TX is looking for volunteers and donation.

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