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channelnewsasia - 10 days ago

Petrobras shares slump as Brazil s Bolsonaro doubles down on intervention

Petrobras shares plunged 22per cent on Monday, wiping out 71 billion reais (US$13 billion) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company s market-friendly CEO with a retired army general.


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