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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (988)	2/10/1998 4:37:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Senate approves civil service reform bill Reuters, Tuesday, February 10, 1998 at 16:13 BRASILIA, Feb 10 (Reuters) - Brazil's Senate approved Tuesday the government's civil service reform bill in a first full vote, an official said. Senator Antonio Carlos Magalhaes declared the bill approved, with 59 of the Senate's 81 members voting in favor. Eighteen voted against and one senator abstained. As a constitutional amendment, the bill needed a three-fifths majority of 49 votes for approval. It must now be put to a second full vote in the Senate, probably in March, before finally clearing Congress. The civil service reform bill has been bogged down in parliament for the last three years, but was put back at the top of the political agenda when the economic crisis in Asia put the spotlight on Brazil's bloated budget deficit. The bill would set a cap on public sector pay and pensions, and allow overstaffed states and municipalities to fire workers whose jobs are currently protected by the constitution. Officials say the reform could generate annual savings of up to $9 billion once fully implemented. The Senate was due to continue voting on proposed amendments to the bill. Another key fiscal reform -- of the social security system -- is set for an important first-round vote Wednesday in the Chamber of Deputies. william.schomberg@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (988)	2/10/1998 4:38:00 PM
From: Steve Fancy	Respond to of 22640

Jan trade in Telebras shrs off 6 pct SAO PAULO, Feb 10 (Reuters) - Trading in ordinary and preferred shares of Brazil's telecoms giant Telebras (TEL.SA) (TBR - news) totaled $32.89 billion in January, down 6.11 percent from December, the Sao Paulo stock exchange (Bovespa) said Tuesday. biz.yahoo.com

To: Steve Fancy who wrote (988)	2/10/1998 4:41:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shares edge higher by close in slow trading SAO PAULO, Feb 10 (Reuters) - Brazilian stocks closed up 0.37 percent on Tuesday in slower-than-average trading as the market failed to keep pace with Wall Street's strong advance, brokers said. biz.yahoo.com