International

Petrobras shares fall after Bolsonaro fires its boss

AFP

The price of shares in Brazil’s state oil giant Petrobras fell Tuesday in reaction to President Jair Bolsonaro firing its boss after only 40 days on the job.

Bolsonaro dismissed Petrobras CEO Jose Mauro Coelho on Monday in a tug-of-war over rising fuel prices, which are set by Petrobras but tied to international market movement.

Petrobras shares lost more than four percent in afternoon trade on the Sao Paulo Stock Exchange, before recovering somewhat to 2.85 percent lower than Monday’s worth.

The movement reflects investor concerns of a possible intervention by the State, the main shareholder in Petrobras, in its autonomous pricing decisions.

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Coelho took over last month for what should have been a one-year term. He became the company’s third CEO in just over a year after Bolsonaro also fired his predecessors.

Fuel prices in Brazil have risen more than 33 percent in the past year, according to official figures, driving annual inflation of more than 12 percent and hurting Brazilians’ wallets in an election year.

The far-right Bolsonaro trails leftist ex-president Luiz Inacio Lula da Silva in opinion polls ahead of elections in October.

Brazil’s Ministry of Mines and Energy announced Coelho’s dismissal, saying the country was “experiencing a challenging moment, due to the effects of the extreme volatility of hydrocarbons in international markets.”

The government has proposed for Coelho to be replaced by Caio Mario Paes de Andrade, an official in the Economy Ministry.

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He must be confirmed by the company’s board of directors.

Earlier this month, Bolsonaro also replaced his longtime energy minister, Bento Albuquerque, days after Petrobras reported record quarterly profits.

Bolsonaro said those profits amounted to “rape,” and called on Albuquerque and Coelho to stop Petrobras from raising prices.

Petrobras went on to hike diesel prices by an additional 8.9 percent.

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International

Death toll from southern Spain train crash rises to 40

The death toll from the train accident that occurred on Sunday in southern Spain has risen to 40, according to investigative sources cited by EFE on Monday afternoon.

Since early Monday, search operations have focused on the damaged carriages of a Renfe train bound for Huelva, which collided with the last derailed cars of an Iryo train traveling from Málaga to Madrid after it left the tracks.

The crash has also left more than 150 people injured. Of these, 41 remain hospitalized, including 12 in intensive care units at hospitals across the Andalusia region.

More than 220 Civil Guard officers are working at the site, searching the railway line and surrounding areas for key evidence to help identify victims and determine the causes of the accident.

The tragedy has revived memories of the deadliest railway disasters in Europe in recent decades. In Spain, the most severe occurred on July 24, 2013, when an Alvia train derailed near Santiago de Compostela, killing 80 people and injuring 130 others.

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At the European level, the worst rail disaster took place on June 3, 1998, in Eschede, northern Germany, when a high-speed train struck a bridge pillar at 200 kilometers per hour, resulting in 98 deaths and 120 injuries.

International

Spain’s Prime Minister pledges transparency after train crash kills at least 39

Spanish Prime Minister Pedro Sánchez pledged on Monday to ensure “absolute transparency” regarding the causes of a train crash that killed at least 39 people on Sunday in southern Spain, warning that the death toll could still rise.

The fatal accident occurred in the Andalusia region, where the number of confirmed deaths reached 39 by Monday morning, according to a spokesperson for the Ministry of the Interior.

Authorities were preparing to deploy heavy machinery to lift several derailed train cars. “We are waiting for cranes to be installed this morning to lift cars one, two and three of the Alvia train, which suffered the most damage,” said Andalusian regional president Juanma Moreno Bonilla on regional television. “It is likely that once they are lifted, we may find more victims,” he added.

The disaster also left more than 120 people injured. As of Monday afternoon, 43 victims remained hospitalized, including 12 in intensive care, according to emergency services.

International

Over 160 christian worshippers kidnapped in Kaduna Church attacks

More than 160 Christian worshippers were abducted on Sunday during coordinated attacks carried out by armed gangs on two churches in a remote village in Kaduna State, northern Nigeria, according to a cleric and a United Nations report accessed by AFP on Monday.

Nigeria, Africa’s most populous nation, has witnessed a renewed surge in mass kidnappings since November, prompting the United States government to carry out military strikes on Christmas Day in the northwestern state of Sokoto.

U.S. President Donald Trump accused Nigerian armed groups of targeting Christians, describing the violence as a form of “genocide” against the religious community.

According to Reverend Joseph Hayab, president of the Christian Association of Nigeria in the north, the attackers arrived in large numbers, blocked access to the churches, and forced worshippers to flee into nearby forests.

“The attackers came in large numbers, sealed off the entrances to the churches, and drove the faithful into the bush,” Hayab told AFP.