Brazil interim government to veto FDI changes

Brazil’s interim government said yesterday that it will have to veto a proposal to scrap limits on foreign direct ownership of local airlines because opposition to the legislation is too strong in the upper house and the government does not wish to see its flagship air transport sector bill completely de-railed. “The bill will be approved as it is and then the government will veto this proposal [on foreign ownership],” Presidential Chief of Staff Eliseu Padilha told reporters. “Afterwards, we will send this issue back for a deeper debate in the Senate.” Interim President Michel Temer, who has replaced suspended