Page 354 - பிரேசிலியன் ப்ரெஸிடெஂட் ஜெயர் போல்சனாரோ News Today : Breaking News, Live Updates & Top Stories | Vimarsana

RIO DE JANEIRO: Petrobras shares plunged 22% on Monday, wiping out 71 billion reais (US$13bil) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company’s market-friendly chief executive officer with a retired army general. The selloff, following a series of analyst downgrades, deepened after Bolsonaro said the company’s fuel policy was only pleasing to financial markets and select groups in Brazil and should be changed as part of an effort to lower gasoline and diesel prices. Overall, the last few days have marked a dramatic about-face for Bolsonaro, a right-wing populist whose interventionist instincts until now had been largely contained by economically conservative allies.

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