At Wentworth Consulting Group, their team of experts works with companies to understand their goals and hurdles, and how to improve their business. They provide strategic management consulting and business operations support, including Procurement, Recruiting, HR and Financial Services.
Dear friends of BrazilFoundation,
After three years of significant growth in fundraising in New York and Brazil, and record revenue in 2021 of USD 8.3 million, I am honored to announce that BrazilFoundation has received a grant of USD 5 million from writer, activist, and philanthropist MacKenzie Scott.
This generous gift of unrestricted resources will allow BrazilFoundation to deepen and substantially expand strategic investments in civil society innovations. With these funds we plan to provide multi-year grants in selected priority fields, generate public awareness of groundbreaking equity initiatives, contribute to building a deep bench of transformative social sector leaders and catalyze national dialogue around access, equity and participation.
In 2021, we invested in 155 civil society organizations in 24 states of the country, which work at the community level, with projects with the potential to influence local or national public policies, through creative methodologies developed to improve the lives of people in the community.
As president & CEO of BrazilFoundation, I am extremely happy to share this news with you!
I emphasize that this recognition is the result of the work that BrazilFoundation and its team have been developing over the last 22 years, with the valuable support of families, individuals, companies, and foundations that have always supported this project.
Thank you so much for being part of this story.
Best,
Rebecca R. Tavares, Ed.D
President & CEO, BrazilFoundation
_______________________________________________________________________________________________________________________________________________
Continue reading “USD 5 million to transform Brazil | USD 5 milhões para transformar o Brasil”
Com a entrada em vigor do artigo 1º da Lei 13.818/19 em 1º de janeiro deste ano, as publicações ordenadas pela Lei 6.404/76 (Lei das Sociedades Anônimas – LSA) ganharam novas regras.
As modificações alteraram o artigo 289 da LSA e criaram um procedimento mais simples e flexível, que atende, ao menos parcialmente, à expectativa das sociedades anônimas por um regime de publicidade modernizado e menos oneroso. A essas mudanças somam-se as recentes modificações na LSA promovidas em 2021 pelo Marco Legal das Startups (Lei Complementar 182/21).
A modificação mais relevante foi acabar com a obrigação das companhias de realizar essas publicações nos veículos oficiais de imprensa da União, dos estados ou do Distrito Federal. Pela nova redação do artigo 289, as publicações “deverão ser efetuadas em jornal de grande circulação editado[1] na localidade em que esteja situada a sede da companhia, de forma resumida e com divulgação simultânea da íntegra dos documentos na página do mesmo jornal na internet, que deverá providenciar certificação digital da autenticidade dos documentos mantidos na página própria, emitida por autoridade certificadora credenciada no âmbito da Infraestrutura de Chaves Públicas Brasileiras (ICP-Brasil)”.
A nova redação é aplicável às publicações obrigatórias realizadas a partir de 1º de janeiro de 2022, independentemente do período (exercício social ou trimestre) a que se refiram. Abrange, por exemplo, as demonstrações financeiras referentes ao período encerrado em 31 de dezembro de 2021.
BRQ is one of the leading Digital Transformation companies in Brazil. The BRQ end-to-end service platform offers the most efficient and innovative solutions, technologies and methodologies, enabling a transformation journey for major brands, from different fields, in Brazil and overseas. With over 3,000 employees, the company stands out as one of the best places to work by GPTW and Glassdoor.
[The REDD Insight is a daily market comment produced by senior members of the REDD Intelligence Latin America newsroom. The views expressed in this report are solely those of the author(s) and are not necessarily either
shared or endorsed by REDD.]
“I told Putin that Brazil supports any country that seeks peace. And that’s his intention.” — Jair Bolsonaro, talking to reporters after meeting with the Russian leader Russia’s invasion of Ukraine has sent shock waves through financial
markets. For Latin American countries, there is an upside of this terrible conflict, but the potential downside could be very steep. As commodity prices surge ― especially oil, gas and wheat, which are mostly produced by the two countries in armed conflict — some countries will see higher revenues on oil sales. Ecuador serves as an example. In a recent interview broadcast on social media, President Guillermo Lasso said the recent increase in oil prices could imply USD 25 in additional revenue per barrel for Ecuador. So far this year, he added, oil price hikes have translated to USD 100m in extra revenues for the country.
Assuming prices stay constant, Ecuador could pull in additional revenues of USD 1.7bn this year, according to an analysis from local economists Walter Spurrier and Alberto Acosta Burneo. Still, Lasso pointed out during his interview that his government would “not create permanent expenditures with temporary revenues.” But for companies like state-owned Pemex and Petrobras, higher oil prices will translate into higher fuel prices, eating into some gains from the rally.
by Maria Fernanda Blaser, Carla Dager and Edgar Sigler via REDD
Monkey is an ecosystem that makes the market for receivables more efficient, benefiting large enterprises’ supply chain and expanding the credit for SMEs in the Americas, Europe and beyond.
Gladstone Arantes, a director of the Brazilian Development Bank (BNDES), gave new details about the progress of the Brazilian Blockchain Network, a project that has been in development since 2018. The network will be created on top of the Hyperledger Besu 2.0, which uses a proof-of-authority consensus mechanism. The final goal of this project is to move public spending to the network in order to increase the transparency of these fund movements.
The Brazilian Blockchain Network, a project that was conceived back in 2018, is now in its development phase. Gladstone Arantes, head of blockchain initiatives at the Development Bank of the country (BNDES), revealed new insights about the development and the technical data of the project. At the Ethereum.Rio event, Arantes stated the project had selected Hyperledger Besu 2.0 to be its base platform, and that the network would also be using a proof-of-authority consensus system.
Proof-of-authority means there will be no mining on top of the chain, and that state actors will maintain control of the network. This follows the premise of simplifying the operation of the blockchain, so it’s possible to be easily understood by anyone wanting to examine it.
by Sergio Goschenko via Bitcoin.com
Em fevereiro de 2022 foram anunciadas 123 transações, número 15,0% superior ao mesmo mês de 2021 e, somando-se as 130 anunciadas em janeiro – 71,0% acima de janeiro de 2021, quando foram anunciadas 76 transações, registam-se 253 transações acumuladas no ano e crescimento de 38,2% no período em relação ao mesmo período em 2021.
Os setores de maior destaque continuam sendo associados, direta ou indiretamente, à tecnologia, e representaram aproximadamente 25% das transações anunciadas no período. Serviços financeiros (onde tecnologia também está fortemente presente), representaram cerca de 20%, sendo seguido por setores de serviços (B2B e ao consumidor), logística, mídia e entretenimento e produtos de consumo. Investidores estratégicos continuam liderando o número de transações anunciadas estando presentes em aproximadamente 61,0% das
operações.
Em relação a players destacaram-se no período de janeiro as transações da XP Inc. (aquisição do Banco Modal) por cerca de R$ 3,0 bilhões, do Pátria, adquirindo usinas hidroelétricas da Contour Global, a operação do Softbank adquirindo participação na Creditas e Gupy (rodada em que a Riverwood também participou), a Sinqia adquirindo a Lote45 e a Petz adquirindo a Petix. Principais 10 transações de janeiro somaram cerca de R$ 10,0 bilhões.
Alexandre Pierantoni, Managing Director, Head of Brazil Kroll Corporate Finance
alexandre.pierantoni@kroll.com
State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters.
Petróleo Brasileiro SA, as the company is formally known, is expected to receive more than $500 million for the 51% stake in TBG, added one of the sources, who requested anonymity to discuss private negotiations. The bid could reach up to $1 billion depending on details of the talks.
Under negotiation is Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG), which operates the Brazilian section of the pipeline, called Gasbol.
The roughly 2,600 km (1,600 mile) pipeline system is the main transportation network for natural gas in the south of Brazil. It generated more than 900 million reais ($180 million) of operating profit for its owners in the first nine months of last year.
By Tatiana Bautzer and Gram Slattery via Reuters
Dear clients and business partners,
In light of the startup market’s development both in Brazil and around the world, and with entrepreneurs and investors gaining increased experience in the industry, Mattos Filho announces the launch of its new Venture Capital practice.
The practice will benefit from our full-service and cross-practice expertise to efficiently attend clients that work across all aspects of this industry. Featuring specialists with significant experience in material transactions in Brazil, our services encompass legal and strategic support for highly scalable startups. This includes structuring and implementing their MVPs and business plans, as well as investment and strategic exits.
We have extensive experience designing and implementing domestic and international investment structures for investors. As such, we advise some of Brazil’s most active venture capital funds in different industries on regulatory concerns. We also advise companies from different sectors and industries in their corporate venturing projects, including, among others, structuring innovation hubs and acceleration programs.
Recently, venture capital investments surpassed private equity investments in Brazil, reaching a record BRL 46.5 billion, according to a survey by the Brazilian Private Equity and Venture Capital Association (ABVCAP), in partnership with KPMG. Brazil is already the largest venture capital market in Latin America; our specialists’ extensive expertise in the area makes them the ideal strategic partners for transactions within this innovative ecosystem.
Our new Venture Capital practice reinforces the importance we place on entrepreneurship for Brazil’s social and economic development. The formation of the practice coincides with efforts from the Legislative Branch – and certain regulators, such as the Brazilian Central Bank (BACEN) and the Brazilian Securities and Exchange Commission (CVM) – to improve and modernize the Brazilian regulatory framework.
The multidisciplinary team behind Mattos Filho’s Venture Capital practice focuses on serving both investors and investees with the dynamism and agility that this industry requires, providing creative solutions that drive transformation and foster entrepreneurship.
King & Spalding opens its Miami office, with a particular focus on our Brazilian and wider LatAm practice.
We are thrilled to share the news of the opening of King & Spalding’s Miami office, which officially launched on February 28th. The office, our 23rd globally, will provide a diverse range of capabilities across many of our leading trial, transactional, and governmental practices, with a particular focus on further assisting the needs of our Brazilian clients, many of which have connections with the Sunshine State.
The office now serves as a base of operations for the more than 50 King & Spalding lawyers who are barred in Florida and regularly work on matters in the state. Given Florida’s rapidly expanding economy and strategic importance more broadly in the U.S., Brazil and across Latin America, as well as the firm’s many clients with business and legal interests in the state, the Miami office will be an important hub for the firm and our clients.
Market-Leading Capabilities in Florida
ABOUT KING & SPALDING
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,200 lawyers in 23 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients.
The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets, said the people, who asked not to be named discussing the deliberations. The White House’s approach to crypto has attracted fresh attention in recent weeks after the U.S. and its allies levied sanctions on Russia, prompting concerns that organizations and individuals could use crypto to evade the restrictions.
During his State of the Union address, President Biden indicated that getting inflation under control was a top priority, and to businesses he said, “Lower your costs, not your wages.” For many employers throughout the country, however, lowering wages has not been their response to the recent health or economic crises. And in parts of the country, by law wages are heading in only one direction—up—as many local minimum wage statutes adjust their rates to changes in the consumer price index (CPI). Below we provide not an economic forecast, but a forecast of what employers might expect to experience during these turbulent economic times so they can budget accordingly in the coming months and prepare for near-term (July 1) and future (January 1, 2023) mandatory wage rate changes.
During COVID-19, running a business has been anything but easy. We’ve all read about the “Great Resignation” causing “wageflation” (“a precipitous, unexpected and immediate rise in wages based on unique market forces,” per Forbes). And now with inflation, some companies might find themselves in an even more precarious situation. Although mid-year (July 1, 2022) minimum wage increases are still about four months away, some jurisdictions have already revealed what their rates will be; the changes are notable and demonstrate the impact rising inflation can have on wages in jurisdictions that adjust their minimum wage due to changes in the CPI.
On March 1, 2022, in New Mexico the minimum rates in both the City of Santa Fe and County of Santa Fe were CPI-adjusted from $12.32 to $12.95 per hour, an increase just above five percent. The District of Columbia announced that on July 1, 2022, its minimum wage will increase from $15.20 to $16.10 per hour, which is almost a six percent increase. To date, the highest announced increase belongs to the City of Los Angeles, California, where the annually adjusted minimum wage will increase on July 1, 2022 from $15.00 to $16.04 per hour, a boost close to seven percent.
By Sebastian Chilco via Littler
The Department seeks to appoint U.S. Section members who represent a diversity of business sectors and geographic locations, consist of a range of small, medium, and large firms, and are reflective of the diversity of the U.S. population. The Forum provides business leaders with the opportunity to impact the U.S.-Brazil trade relationship and improve conditions for doing business in Brazil. To qualify, a candidate must be a CEO or president (or have a comparable level of responsibility) of a U.S.-owned or -controlled company that is incorporated or otherwise organized in and has its main headquarters in the United States and that is currently doing business in both Brazil and the United States.
To apply, please visit the linked Federal Register Notice. The application period will close on April 1, 2022.
Attached is the application document, a new element in the application process. (Note: The requested information on the top portion (points 1-10) does not need to be filled out on the application itself, and can be supplied in the format most convenient for the applicant. However, the second part (point 11) will need to be completed, signed and included with any supporting documents).
Background: Launched in 2007, the U.S.-Brazil CEO Forum consists of up to 24 CEOs from the United States and Brazil, who provide joint recommendations to the two governments to strengthen the U.S.-Brazil economic and trade relationship. The forum has successfully opened discussions between the United States and Brazilian governments on several important issues, including visa and tax reform, customs procedures, education, energy, defense trade, and infrastructure.
For more information please visit:
Federal Register Notice: 87 FR 9313
U.S.-Brazil CEO Forum Website: www.trade.gov/us-brazil-ceo- forum
Department of Commerce Press
Press: Press Release
Social Media: Twitter & LinkedIn
Contact
For inquiries and to request an application, please contact:
Christopher Di Trolio
Office of Latin America and the Caribbean
International Trade Administration U.S. Department of Commerce
Christopher.DiTrolio@trade.gov
The International Entrepreneur Parole program, which was relaunched in May 2021, provides foreign start-up entrepreneurs (founders/ C-Suite) the opportunity to work in the United States to develop a promising start-up entity with significant potential for rapid business growth and job creation.
The International Entrepreneur Parole program is specifically targeted for early-stage tech entrepreneurs as an alternative to immediately qualifying for employment-based visa categories based on personal achievements or investment that do not consider the dynamics of a promising start-up entity in its early stages.
Entrepreneurs applying for parole under the International Entrepreneur Parole program must demonstrate that:
• At the time of adjudication and grant of initial parole they possess at least 10% ownership in a U.S. start-up entity created within the past five years;
• They hold a central and active role in the operations such that their knowledge, skills and experience would assist the start-up entity to grow in the U.S.;
• The start-up entity will provide a significant public benefit to the United States based on their role as an entrepreneur of the start-up entity by showing either:
o Significant capital investment (currently at least $264,147) from “qualified” U.S. investors with established track records (e.g. venture capital funds, angel investors or start-up accelerators);
o Significant government grants (currently at least $105,659) from U.S. federal, state or local government entities with expertise in economic development, research and development, or job creation; OR
o Additional reliable and compelling evidence that the entrepreneur would provide significant public benefit to the U.S. and would create jobs (e.g. applicant’s academic background and experience developing successful ventures, patents for promising technology and/or cutting edge research in areas of national benefit, the performance and impact of the start-up entity etc.)
Earlier in the day, Admiral Eduardo Bacellar Leal Ferreira told Reuters he planned to step down as chairman of Petroleo Brasileiro SA , as the Rio de Janeiro firm is formally known.
“Petrobras chairman is a 24-hour job and I want to spend more time with my family,” Ferreira said, adding he has two grown children living outside of Brazil.
Ferreira will stay until the end of his term. A shareholder meeting to renew the company’s board is scheduled for April 13.
The replacement comes as Petrobras faces pressure from investors to raise fuel prices as oil approached $120 per barrel. The company controls gasoline and diesel prices in Brazil with more than 80% of the country’s refining capacity.
Ferreira declined to comment on Petrobras’ fuel price policy.
By Sabrina Valle via Reuters
For the first time, the Brazilian Industry Innovation Summit will provide a platform for more than 15 thousand simultaneous accesses. A virtual environment that will bring together people from all over the world, focusing on the debate on innovation.
Background
As fighting between Russian and Ukrainian forces continues, the United States, United Kingdom, European Union, and a host of other jurisdictions have imposed sanctions against certain Russian corporate entities and individuals, as well as against the Russian state as a whole. Thousands of global employers, especially those with operations in Russia and Ukraine, are bracing for the inevitable economic impact, as workforces and supply chains are disrupted, just as the region was starting to recover from the crippling effect of the COVID-19 pandemic. Indeed, it appears that the sanctions have already bitten into the Russian economy, with the S&P lowering its credit rating to “junk” status.
What are the sanctions imposed?
Financial institutions: The U.S. Department of the Treasury has targeted the “core infrastructure” of Russia’s financial system, sanctioning multiple financial institutions, including Sberbank, VTB Bank, and their subsidiaries.1 The sanctions against VTB Bank (Russia’s second-largest financial institution) and three other Russian financial institutions freeze any of these entities’ assets touching the U.S. financial system (as well as the assets of any entity owned 50% or more by the sanctioned institutions) and prohibit U.S. persons from dealing with them. The sanctions against Sberbank, Russia’s largest financial institution, effectively cut off Sberbank’s ability to conduct transactions in the U.S. dollar. The United States is also taking measures to freeze Russian Central Bank transactions and prohibit the bank from deploying its international reserves.
By Lavanga Wijekoon, Stephan Swinkels, Elizabeth Lalik, Raoul Parekh, Darren Isaacs, and Uliana Kozeychuk via Littler
The monthly result topped the median forecast of a $3.55 billion surplus in a Reuters poll of economists, and was more than double the $1.8 billion surplus recorded in the same period a year ago.
According to the Economy Ministry, exports surged 32.6% from February 2021 to $22.9 billion, benefiting from a 22.6% expansion in volumes and a 13.5% increase in prices.
Imports rose 22.9% to $18.9 billion as a 30.9% rise in prices more than compensated for a decline of 2.5% in the volume of goods purchased by Brazil.
Reporting by Marcela Ayres Editing by Chris Reese, Kirsten Donovan via Reuters
This International Women’s Day, our Littler international lawyers will be joined in a panel discussion with Janet Lindsay, CEO of Wellbeing of Women (the leading women’s health charity that recently launched the Menopause Workplace Pledge) to discuss why it makes sense for employers to improve their understanding of, and support, women’s health in the workplace.
Time:
8:00 a.m. PT
9:00 a.m. MT
10:00 a.m. CT
11:00 a.m. ET
4:00 p.m. GMT
5:00 p.m. CET
Duration: 60 minutes
Em defesa da privatização completa da Caixa, o ex-ministro Henrique Meirelles, responsável por coordenar o plano econômico da candidatura do governador João Doria (PSDB) ao Palácio do Planalto, disse nesta quarta-feira, 2, que o Brasil não precisa de dois grandes bancos públicos federais.
Durante participação em webinar da Brazilian-American Chamber of Commerce, Meirelles considerou a venda da Caixa ao capital privado, num processo em que seria transferido ao Banco do Brasil o papel de financiador do programa nacional de habitação, como a melhor solução.
Por Eduardo Laguna (Agência Estado) via Esbrasil
