Brazil's graft-hit Petrobras reports $7.2bn loss in 2014
Brazil's scandal-hit state oil giant Petrobras lost $7.2bn last year
Rio de Janeiro - AFP
Brazil's scandal-hit state oil giant Petrobras lost $7.2 billion last year, it said Wednesday, releasing its first audited account of the damage from a massive kickbacks scheme.
The corruption scandal, in which Petrobras executives allegedly colluded with construction companies to massively inflate contracts and bribe politicians, has badly hurt Brazil's largest company and President Dilma Rousseff's government.
Petrobras said it lost 6.2 billion reals ($2.1 billion) to the scheme from 2004 to 2012, which it included in its long-delayed 2014 results.
The company announced a devaluation of its assets of $14.8 billion, largely because of postponed refinery projects.
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Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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