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Brazil’s service sector beats forecasts, hits record high in June

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Services activity in Brazil grew more than expected in June to hit an all-time high, eclipsing a record that had been set in December 2022, data from statistics agency IBGE showed on Tuesday

The service sector, which accounts for about 70% of all activity in Latin America’s largest economy, grew 1.7% in June from the previous month, IBGE said, exceeding the 0.8% expected by analysts polled by Reuters.

All of the five main groups surveyed by the agency posted positive results in the period, with an 1.8% expansion in transportation notably offsetting a negative reading in the previous month, IBGE said.

“The result is largely due to air transport, driven by a drop in air ticket prices,” IBGE research manager Rodrigo Lobo said.

Services activity was also up 1.3% in June from a year earlier, according to IBGE, again beating the 0.8% expected by economists in the Reuters poll.

The sector now stands 0.5% above the previous record high in the IBGE data series, which had been set in late 2022, the statistics agency added.
“Our assessment indicates that Brazil’s economic activity continues to perform well,” said PicPay economist Igor Cadilhac, highlighting a strong labor market.

Claudia Moreno, economist at lender C6, said that a slowdown in activity as a whole is expected for the second half of the year, “which should make the services sector move sideways.”

She still believes, however, that the sector will contribute to Brazil’s gross domestic product growth in 2024.

Private sector economists expect Brazil’s economy to expand 2.20% this year, according to a weekly central bank survey.

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Reporting by Gabriel Araujo and Luana Maria Benedito; Editing by Kirsten Donovan and Andrea Ricci via Reuters

 

Produção industrial no Brasil tem em junho maior alta em quatro anos

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Melhora da atividade do setor ocorre em meio à retomada em áreas afetadas pelas enchentes no Rio Grande do Sul

A produção industrial brasileira encerrou o segundo trimestre com uma crescimento acima do esperado em junho. Aliás, foi o maior ganho da indústria em quatro anos, em meio à retomada da atividade em áreas afetadas pelas enchentes no Rio Grande do Sul.

Em junho, a produção teve alta de 4,1% na comparação com o mês anterior, bem acima da expectativa em pesquisa da Reuters de avanço de 2,4%.

Foi o maior crescimento desde julho de 2020 (+9,1%), interrompendo dois meses seguidos de perdas. Além disso, a indústria brasileira ultrapassou o patamar pré-pandemia ao ficar 2,8% acima de fevereiro de 2020. Porém, o setor ainda está 14,3% abaixo do nível recorde alcançado em maio de 2011.

Os dados divulgados nesta sexta-feira (2) pelo Instituto Brasileiro de Geografia e Estatística (IBGE) mostraram também expansão de 3,2% da indústria na comparação com o mesmo mês do ano passado, contra expectativa de 1,2%.

“Cabe destacar que o avanço mais acentuado observado em junho de 2024 está relacionado não só com a base de comparação depreciada, explicada pelos dois meses consecutivos de queda na produção, mas também pela volta à produção de várias unidades produtivas que foram direta ou indiretamente afetadas pelas chuvas ocorridas no Rio Grande do Sul em maio de 2024”, explicou o gerente da pesquisa, André Macedo.

Setores industriais em destaque

O IBGE destacou que, em junho, 16 das 25 atividades pesquisadas apresentaram ganhos. As maiores influências positivas vieram de coque, produtos derivados do petróleo e biocombustíveis (4,0%); produtos químicos (6,5%); produtos alimentícios (2,7%) e indústrias extrativas (2,5%).

No setor de produtos alimentícios, que segundo o IBGE representa cerca de 15% da atividade industrial do Brasil, houve alta na produção de produtos importantes, como açúcar, produtos derivados de soja, suco de laranja e carnes de aves.

Entre as categorias econômicas, o destaque ficou para o aumento de 6,8% na fabricação de Bens de Consumo. Em seguida, Bens Intermediários tiveram alta de 2,6% e os Bens de Capital avançaram 0,5% sobre maio.

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Via Forbes Brasil

Brazil chicken exporters enjoy less US competition, strong Mideast demand

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Brazilian chicken export data indicates the outlook is positive for the remainder of 2024, meat lobby ABPA said on Monday, citing weaker competition from U.S. supplies and continued strong demand from traditional Middle East importers

Brazil’s chicken exports averaged 431,400 metric tons per month through June, 0.8% higher than the monthly average recorded for the whole of 2023, which was 428,200 tons, according to ABPA data.

The relative absence from U.S.-based chicken exporters in the market, and steady sales to countries like the United Arab Emirate and Saudi Arabia, are good signs for suppliers in Brazil, the world’s largest chicken exporter, according to ABPA.

The fact that Brazil, the world’s largest chicken supplier, also historically exports more in the second half of the year is also a boon.

He added that for Brazilian companies, this meant more export volumes destined for Latin American countries, including Mexico and Chile, allowing Brazil to reposition itself in strategic markets for products such as chicken legs and chicken breast.

By volume, Brazilian chicken exports were the best in history between April and June, ABPA said.

However, price-wise the picture is not as rosy, as Brazil’s aggregate chicken export sales reached $4.636 billion in the first half, 10.3% below the $5.168 billion from the same period in 2023, according to ABPA data.

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Reporting by Ana Mano, Editing by Franklin Paul and Aurora Ellis via Reuters

Brazil government will not insist on tighter tax credit rules, sources say

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The Brazilian government will not insist on a highly contested measure tightening rules for tax credits after the Senate sent it back, but there is still no decision on a replacement measure, two sources close to the presidential palace told Reuters on Tuesday

The Finance Ministry had included the measure last week in an executive order outlining tighter rules for the use of tax credits by companies. The measure triggered a strong backlash from the most affected industries, including the powerful agribusiness sector.

An executive order takes immediate effect but needs to be voted on by lawmakers within four months to remain valid. By sending it back to the government, in effect the order is canceled. The measure had aimed to raise as much as 29.2 billion reais ($5.52 billion) to offset a revenue loss of 26.3 billion reais from tax benefits passed by Congress for the payrolls of some economic sectors and small cities.
The government needs to find alternatives to compensate for the lost revenue, because the Supreme Court has ruled that Congress must approve compensation for maintaining payroll benefits. No alternative has been decided so far, the sources said. It will be up to President Luiz Inacio Lula da Silva’s economic team to rework a proposal that is more palatable to Congress and the industries.
As of Monday, Finance Minister Fernando Haddad was still betting that he would be able to negotiate the tighter tax credit rules with Congress, one of the sources said.

But after a conversation with Senate President Rodrigo Pacheco on Monday, Lula was convinced the measure would have no chance of succeeding, the source said.

Later on Tuesday, Haddad told reporters that his ministry has no plan B for the measure and that the Senate has assumed part of the responsibility for finding a solution.

Reporting by Lisandra Paraguassu, Maria Carolina Marcello and Victor Borges in Brasilia and Luana Maria Benedito in Sao Paulo; Writing by Peter Frontini; editing by Jonathan Oatis, Kylie Madry and Leslie Adler

Brazil’s inflation slows to 0.21% in mid-April

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Brazil’s consumer prices rose slightly less than expected in the mid-April reading, data from statistics agency IBGE showed on Friday.

Prices in Latin America’s largest economy rose 0.21% in the month to mid-March, below the 0.29% growth expected by economists polled by Reuters.

This took the inflation of the previous 12 months to 3.77%, slowing down from 4.14% in the 12 months to mid-March and also below expectations of a 3.86% increase. The reading marked the first time since July last year the figure came in below 4%.

“All told, the inflation picture continues to improve in Brazil, thanks to favorable base effects, the lagged effect of high-interest rates and softening domestic demand,” said Andres Abadia, Chief Latam Economist at Pantheon Macroeconomics.

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Reporting by Peter Frontini; Editing by Steven Grattan and Angus MacSwan via Reuters

The Road to Prosperity

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The documentary “The Road to Prosperity” presents testimonies from Guedes and
the team of the ministry that lasted from 2019 to 2022

On May 14, the city of New York hosts the premiere of the film “The Path to Prosperity” – a documentary directed by filmmaker Paulo Moura about the legacy of Paulo Guedes at the Ministry of Economy. The work features testimonies from Guedes and various members of the super-ministry, such as Daniella Marques, Adolfo Sachsida, and Waldery Rodrigues, as well as Carlos Langoni – economist and former president of the Central Bank, who passed away in June 2021.

The film presents as its guiding thread Paulo Guedes’ thesis for the Road to Prosperity, which at the Ministry of Economy translated mainly into the implementation of emergency measures, structural reforms, streamlining, and digital government. Through insightful interviews and firsthand accounts from over 30 government collaborators, the documentary narrates Guedes’ efforts to foster economic growth, attract foreign investment, and streamline bureaucratic processes.

Key themes explored include Guedes’ emphasis on reducing state intervention, promoting privatization, and implementing structural reforms like the Pension Reform. The film also sheds light on his vision for tax reform and digitalization of public services, positioning Brazil as a competitive player on the global stage.

Featuring testimonials from prominent figures in economics and government, “The Road to Prosperity” offers a comprehensive insight into Guedes’ transformative leadership and his enduring impact on Brazil’s economic trajectory.

The film does not yet have a release date in Brazil.

Service
Film Premiere ‘The Road to Prosperity’
May 14th | 7:00 pm
Symphony Space – Thalia Theater | 2537 Broadway at 95th Street | New York, NY 10025

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BUY TICKETS HERE

2-Key Brazilian economic activity index rises for fourth straight month

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Economic activity in Brazil rose for the fourth straight month in February, a central bank index showed on Wednesday.

The IBC-Br economic activity index, considered a leading indicator of gross domestic product, increased by a seasonally adjusted 0.4%, matching expectations from analysts polled by Reuters, and following a revised 0.52% increase in January.

Recent official data revealed unexpected growth in the retail sector in February, while the services sector and industrial output surprisingly dropped in Brazil.

Meanwhile, the largest economy in Latin America created a net 306,111 formal jobs in February, beating estimates.

On a non-seasonally adjusted basis, the IBC-Br expanded by 2.59% since February of last year and grew by 2.34% on a 12-month basis.

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Reporting by Camila Moreira and Andre Romani via Reuters

Brazil hopes COP30 climate summit boosts ecotourism

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Brazilian tourism officials are hoping to change the country’s image as a mere haven for scantily clad beachgoers by hosting U.N. climate talks next year in the Amazon rainforest city of Belem that will focus on environmental sustainability and ending deforestation to slow global warming

The summit is expected to boost Brazil’s attractiveness as an ecotourism destination and increase travel to its Amazon rainforest and other biomes that offer the world’s greatest biodiversity, Tourism Minister Celso Sabino said.

Only 9% of current visitors to Brazil are ecotourists, while almost two out of every three tourists come for sun and beach, he said in an interview late on Tuesday.
“Tourism is essential for the sustainability and preservation of forests, bringing needed economic development for the local inhabitants,” he said.
Drawing more environmental and adventure travelers is part of the government’s plan to increase overall tourism in Brazil, which is low in comparison with other countries. Tourism contributes less than 8% of Brazil’s GDP, compared to more than 20% in Spain, Portugal or the Dominican Republic, he said.
Sabino is working on expanding flights to Brazil and will be at the Seatrade Cruise Global fair in Miami next week to discuss increasing the number of cruise ship visits to Brazilian ports.
All steps to raise foreign and domestic tourism are welcomed by private businesses complaining that the number of tourists remains stagnant and below the pre-pandemic level.
“Brazil has a natural vocation for ecotourism given its unique biodiversity. There is an enormous potential to be tapped,” said Marina Figueiredo, executive president of Braztoa, the Brazilian tour operators association.
Tourists worldwide are looking for new experiences with nature and wildlife, Figueiredo told Reuters.
“COP30 next year will be more than just a conference. It is a very strategic event that will showcase Brazil as a country that protects the environment and preserves nature,” she said.
—
Reporting by Anthony Boadle; Editing by Paul Simao

Brazilian Tax Reform And Its Implications For Foreign Sellers

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Brazilian consumption taxes are highly complex. Different levels of government have the authority to levy taxes on consumption, leading to the coexistence of multiple taxes, each governed by distinct rules. This complexity creates numerous challenges, such as tax competition between states and conflicts of jurisdiction among different tiers of government.

Despite doubts about the possibility of tax reform in Brazil, the long-awaited simplification of the tax system has finally been enacted after nearly four decades of discussions and several unsuccessful attempts.

Current Brazilian consumption tax system

The Brazilian Federal Constitution of 1988 granted the authority to levy consumption taxes to all levels of government — federal, state, and municipal. As a result, Brazil operates with multiple layers of taxation, with various taxes existing concurrently. This constitutional framework delineates the division of taxation responsibilities regarding goods and services.

Brazilian tax reform

On 20 December 2023, Brazil approved the long-awaited reform, replacing the existing consumption taxes with a dual VAT system comprising a subnational VAT (imposto sobre bens e serviços, IBS) and a federal VAT (contribuição sobre bens e serviços, CBS). Both federal and subnational VAT will share key features, such as the taxable transaction and base, and will operate on a non-cumulative basis following the destination principle.

Implications for foreign remote sellers

Foreign remote sellers currently have no tax compliance obligations in Brazil. Unlike many other countries, Brazil has not implemented special regulations mandating remote sellers to collect Brazilian consumption taxes on digital services provided to Brazilian customers.

Although the proposed reform does not explicitly outline rules for foreign sellers of digital services, some initial insights can be drawn based on its overarching principles. Under the Brazilian dual VAT system, taxable transactions will include both domestic and import transactions involving tangible goods, intangible goods, and services. The destination principle will apply to both cross-border transactions and domestic ones, but the criteria for determining the customer’s location will be specified in the complementary law. As a result, services provided by foreign sellers will be subject to taxation in Brazil. However, the specific tax collection mechanism Brazil will adopt has yet to be determined. If tax collection obligations are imposed on foreign sellers, they will face significant challenges in determining the customer’s location and the applicable tax rate, which may vary from one municipality to another.

Concluding remarks

The Brazilian tax reform aims to address long-standing issues of tax competition and jurisdictional conflicts among different levels of government. Once fully implemented, it is expected to simplify taxation and enhance tax administration and compliance. The new system will align more closely with international tax principles and will also encompass digital services provided by remote sellers to Brazilian customers. However, clarity is still needed regarding the application of tax collection responsibilities. Furthermore, the tax reform is anticipated to stimulate foreign investments in Brazil. Many companies interested in investing in the country currently hesitate due to the complexity of the tax system. However, the cost reductions resulting from the reform may lead to increased interest in establishing a local presence in Brazil.

By Aleksandra Bal via Forbes

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Brazil Central Bank Kicks off Rate Cuts More Aggressively than Expected

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Brazil’s central bank kicked off its rate-cutting cycle more aggressively than expected on Wednesday, reducing its benchmark interest rate by 50 basis points and signaling more of the same in the months ahead due to an improving inflation outlook.

The bank’s rate-setting committee Copom cut its Selic policy rate to 13.25%, as just 10 of 46 economists surveyed by Reuters had anticipated. The rest expected a smaller reduction of 25 basis points.

Brazil’s first rate cut in three years came after policymakers held borrowing costs steady since September 2022, following 1,175 basis points of rate hikes to battle inflation, the world’s most aggressive monetary tightening at the time.

Reporting by Peter Frontini Additional reporting by Marcela Ayres and Carolina Pulice Editing by Brad Haynes and Diane Craft via Reuters

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Fitch Eleva Nota de Crédito Soberano do Brasil e Cita Melhora Fiscal

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Upgrade da classificação de risco do país de BB- para BB, com perspectiva estável, deve acelerar ingresso de capital estrangeiro no mercado doméstico.

Em relatório, a agência cita uma melhora do desempenho macroeconômico e fiscal “em meio a sucessivos choques nos últimos anos, políticas proativas e reformas”. A expectativa da Fitch é de que o novo governo trabalhará para melhorias adicionais.

A notícia pode afetar os ativos brasileiros nesta quarta, incluindo as ações do Ibovespa. Nos minutos após a divulgação do relatório, os juros futuros estenderam o movimento de baixa dos últimos dias. As taxas mais longas tinham as quedas mais pronunciadas. O dólar operava estável.

Apesar da elevação, a nota “BB” ainda está na categoria classificada como “grau especulativo”, abaixo do selo conhecido como “investment grade”, que o Brasil perdeu da Fitch em dezembro de 2015.

Por Mariana d’Ávila via Bloomberg Línea

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Principais economias vivem ciclo de alta de juros, enquanto Brasil discute queda

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Conforme ciclos de aperto monetário se aproximam do que se espera ser metade do caminho, bancos centrais de todo mundo ensaiam movimento de calibragem

Galopante mundo afora, a inflação impacta diretamente um dos fatores mais determinantes no desempenho do mercado acionário: a taxa de juros.

Conforme os ciclos de aperto monetário se aproximam do que se espera ser a metade do caminho, bancos centrais de todo o mundo ensaiam um movimento de calibragem sobre o nível de agressividade dos ajustes daqui para frente para domar a inflação.

O Banco da Reserva da Austrália (RBA, na sigla em inglês), por exemplo, moderou a alta na taxa de juros na última terça-feira (4): ao invés de optar por um aumento de 50 pontos-base, como esperava boa parte dos analistas de mercado, abrandou a subida a 25 pontos-base, a 2,60%.

A justificativa para a decisão do banco central australiano reside na estratégia de avaliar o impacto que as últimas quatro altas tiveram sobre a economia e, sobretudo, na inflação, que atingiu o patamar de 6,8% em agosto.

O Brasil, por outro lado, já não vive mais esse cenário. Embora a taxa Selic seja a maior do mundo em termos de juros reais, a 13,75% ao ano, ela já atingiu seu pico — e, agora, a dúvida paira sobre quando é que ela começará a cair.

By Tamara Nassif do CNN Brasil Business, Thais Herédia e Priscila Yazbekda CNN em São Paulo via CNN Brasil

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Brazil Jobless Rate Falls to 9.1% in 3-Month Period Through July

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Brazil’s unemployment rate declined in the three months through July to the lowest level since 2015 as hiring rose in every category measured.

The jobless rate reached 9.1% in the three months through July, from 9.3% in the three months through June and 13.7% in the year-earlier period, the Brazilian Institute of Geography and Statistics, or IBGE said Wednesday.

The number of people with jobs rose to 98.7 million in the three months through July from 98.3 million in the three months through June, while the number of people seeking employment fell to 9.9 million from 10.1 million during the same period.

The strength of Brazil’s labor market has surprised economists repeatedly in recent months, helping boost expectations for economic growth as well. The services sector has been especially strong amid an ongoing post-lockdowns recovery and government programs that have boosted spending power among Brazil’s poorest residents.

By Jeffrey T. Lewis via MarketWatch

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Trade between Brazil and the United States hit a record high in the first half, fueled by fuel

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The exchange of goods between Brazil and the United States reached a new record in the first half of 2022, the American Chamber of Commerce (Amsam Brazil) revealed today (15). According to the organization, trade between the two countries during the period totaled 42.7 billion US dollars, an increase of 43.2% compared to the first half of last year. The full report is available at this link.

“Bilateral trade continued to heat up in the first half of the year. The increase in international prices and, to a lesser extent, demand for products important to the bilateral agenda led to unprecedented values ​​in Brazilian imports and exports relative to the United States.”, said the Executive Vice President of Aspect Brazil. Abram Neto.

On the side of Brazilian imports from the United States, the volume handled reached US$25 billion in the first half, an increase of 52.4%. This result was particularly influenced by the purchase of fuels and energy products such as oil products, natural gas, crude oil and coal. In total, these products account for 43.7% of total Brazilian imports.

By Wallace Holt via SIV Telegram Media 

Euro And Dollar Are Equal For First Time In 20 Years – Here’s What It Means For Americans

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The euro and the U.S. dollar are equal for the first time in 20 years, as Russia threatens to cut off gas to the west and inflation rates soar, sparking fears of a European recession.

The euro slipped as low as around $1.00005 Tuesday morning, but has since inched up to $1.0061.

Greg McBride, chief financial analyst with the New York financial company Bankrate, told Forbes the effect on imports and exports will be relative, increasing the cost of American goods sold in Europe while making European goods cheaper in the U.S., helping to ease the effect of rising inflation.
“Going to Europe looks a lot cheaper to Americans compared to last summer,” Moody’s Analytics chief economist Mark Zandi told USA Today on Tuesday, noting a stronger dollar can offset the cost of rising airfare by 10% to 20%.
By Brian Bushard via Forbes

Balança comercial tem superávit de US$ 8,8 bilhões em junho

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Corrente de comércio, que serve como termômetro para a atividade econômica, avançou 22,6% ante junho de 2021

A balança comercial brasileira registrou superávit de US$ 8,813 bilhões em junho. O número é 15,4% menor que o saldo do mesmo mês do ano passado.

Os números foram divulgados pelo Ministério da Economia apenas nesta sexta-feira (1º). A corrente de comércio, que serve como termômetro para a atividade econômica, avançou 22,6% ante junho de 2021. No total, a soma das exportações e importações brasileiros foi US$ 56,536 bilhões.

As exportações brasileiras avançaram 15,6%, totalizando US$ 32,675 bilhões em junho. Esse resultado foi puxado, principalmente, por uma alta de 38,5% na exportação de produtos da Indústria de Transformação brasileira. O setor da Agropecuária avançou 30,4%. Já a venda de produtos da Indústrias Extrativa recuou 24,3% no mês.

Por Anna Russida, via CNN

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Brazilians are adopting digital payments faster than anyone else — what lessons can we learn?

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  • Digital payments are an essential tool of financial inclusion and enfranchisement.
  • Brazil is leading a Latin American boom in financial inclusion, with FinTech companies and Central Bank-led initiatives providing access to bank accounts for the first time to millions of people.
  • The World Economic Forum has partnered with the Inter-American Development Bank to launch an initiative aimed at further expanding financial inclusion and unlocking digital trade opportunities in Latin America and the Caribbean.

Digital payments are driving a profound change in Brazil’s banking sector. Over the past 10 years, a silent revolution in Brazil has led to increased competition, more financial inclusion and lower banking fees.

The explosion of digital payments in Brazil has created an innovative financial ecosystem that works for ordinary people.

This progress is the result of a combination of an overhaul in the payments regulatory framework, intensive use of technology, entrepreneurship and a focus on creating products that address the needs of Brazilian customers.

By David Vélez, Founder and CEO, Nubank via World Economic Forum – This article is part of the World Economic Forum Annual Meeting

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Carteira Ibovespa: B3 anuncia entrada da SLC Agrícola (SLCE3)

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Vale e Petrobras seguem como as empresas de maior peso na composição do índice.

A B3 divulgou hoje (2) a nova carteira do índice Ibovespa, que irá vigorar até o dia 2 de setembro de 2022. A grande novidade é a entrada da SLC Agrícola (SLCE3), com peso de 0,241%. Com as alterações, o índice contemplará 92 ativos de 89 empresas.

Os cinco ativos de maior peso na composição do índice se mantiveram os mesmos, mas com novas participações: Vale ON (15,582%, ante 14,783% ), Petrobras PN (6,864%, estável), Itaú Unibanco PN (5,661%, ante 5,142%), Bradesco PN (4,606%, ante 4,556%) e Petrobras ON (4,492%, ante 4,205).

A SLC Agrícola foi fundada em 1977 e é produtora de soja, algodão e milho; criadora de gado e detentora da marca SLC Sementes, que produz e comercializa sementes de soja e algodão. Foi uma das primeiras empresas do setor a ter ações negociadas na Bolsa de Valores.

Por Isabella Velleda via Forbes

Leia mais em: https://forbes.com.br/forbes-money/2022/05/carteira-ibovespa-b3-anuncia-entrada-da-slc-agricola-slce3/

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Brazil trade balance posts biggest February surplus in five years

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Brazil posted a $4 billion trade surplus in February, the strongest performance for the month since 2017, official data showed on Thursday, amid higher volumes and prices of exported goods.

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

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Henrique Meirelles defende a privatização da Caixa

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“O Brasil não precisa de dois grandes bancos públicos federais”, disse o ex-ministro

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

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Brazil Cuts Industrial Tax by 25% for Most Products

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Brazil’s government cut an industrial tax (IPI) by 25% to fight inflation and help industry recover from a pandemic downturn, the country’s official gazette showed on Friday.

The tax cut, with immediate effect, “is a milestone of the beginning of Brazilian reindustrialization after four decades of de-industrialization,” said the Economy Minister Paulo Guedes.

It will affect all industrialized products, with the exception of tobacco items.

Guedes acknowledged the measure has a short-term impact on inflation, but highlighted it was designed as a policy to increase industrial productivity.

Reuters had previously reported that the tax cut was coming.

The minister said it will represent a loss of around 20 billion reais ($3.9 billion) in tax revenue, with the federal government giving up 10 billion reais and the rest coming from state and municipal revenue.

By Marcela Ayres via Reuters

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Brazil central bank chief says higher interest rates, positive fiscal are supporting FX

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Brazil’s central bank chief Roberto Campos Neto said on Tuesday that higher interest rates to combat double-digit inflation are supporting financial inflows, strengthening the Brazilian currency.

Addressing a conference hosted by investment bank BTG Pactual, he also said positive fiscal figures are helping to attract investment to the country, among other reasons that explain the recent exchange rate behavior.

In the year, the real has already risen more than 10% against the dollar, the best global performance for the period, easing pressures on consumer prices after inflation reached 10.4% in the 12 months through January.

“In the exchange front, I think there are several variables. There is a variable that is the higher interest rate itself, which brings flows because of the interest rate differential,” said Campos Neto.

By Marcela Ayres via Reuters

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Apesar de aversão ao risco no exterior, Ibovespa encerra com ganhos e dólar cai

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Principal índice da B3 subiu 0,29%, aos 113.899,19 pontos, enquanto a moeda norte-americana desvalorizou 0,44%, a R$ 5,219, no menor valor desde setembro

O Ibovespa teve ganhos de 0,29%, aos 113.899,19 pontos, nesta segunda-feira (14). Esse é o quinto avanço consecutivo, enquanto o índice resiste ao clima de aversão ao risco que tomou conta dos mercados globais em meio às tensões geopolíticas.

A bolsa operou estável ao longo do dia após um acirramento das tensões na Ucrânia na última sexta-feira (11), com os Estados Unidos afirmando que a Rússia já reuniu tropas suficientes para invadir o país.

O dólar também foi impactado com a notícia de que os Estados Unidos realocaram a embaixada na capital ucraniana para o oeste do país.

A moeda caiu 0,44%, a R$ 5,219 – o menor valor desde 6 de setembro do ano passado (R$ 5,176), com o real entre as divisas globais de melhor desempenho no dia, ainda embalado pelo atrativo juro oferecido pelo Brasil.

João Pedro Malar do CNN Brasil Business em São Paulo com informações de Priscila Yazbek e da Reuters

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Inflação ao consumidor dos EUA sobe mais que projeção e pressiona Fed

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A inflação de janeiro nos EUA, medida pelo Índice de Preços ao Consumidor (IPC ou CPI em inglês), subiu mais do que o esperado, indicando uma piora das perspectivas para a economia e consolidando a probabilidade de aumentos substanciais das taxas de juros este ano pelo Federal Reserve (Fed).

O indicador avançou 0,6% em janeiro, quando o mercado projetava 0,4%. Na comparação anual, o avanço é de 7,5%, quando a expectativa era 7,2%.

Com isso, aumenta a pressão para que o Fed endureça o discurso e avance com os juros a partir de março.

Até aqui, o mercado vinha apostando em alta de juros de 0,25 ponto porcentual para 16 de março. Mas os próximos passos são incertos: já há quem cogite 0,5 p.p. e até sete altas sequenciais ao longo de 2022.

Excluindo os custos voláteis de gás e mantimentos, o núcleo do CPI aumentou 6% na comparação anual, ante a estimativa de 5,9%.

As taxas mensais também ficaram mais quentes do que o esperado, com o principal e o núcleo do CPI subindo 0,6%, em comparação com as estimativas de um aumento de 0,4% em ambas as medidas.

O núcleo da inflação subiu em seu nível mais rápido desde agosto de 1982.

Por Cláudia Zucare Boscoli via euqueroinvestir.com

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Brazil, Colombia Lead Latin America for FinTech Growth

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The FinTech trade is flourishing in Colombia, with an expansion of 120% each year and investments of more than $1 billion in the past three years, according to a report from the FinTech Times. Brazil is the fifth-largest FinTech market worldwide, earning more than 70% more investment in 2020 than in 2019, according to the report. The countries’ success is helping to align Latin America’s FinTech advancements with Asia and the U.S., according to the article.

Since the COVID-19 pandemic, online banking services and FinTechs have overwhelmingly set up shop in Colombia, making the country the third-largest FinTech epicenter in Latin America after Brazil and Mexico, according to PYMNTS.

In addition, a recent study found that 40 percent of Colombian consumers are purchasing products digitally, with eCommerce sales anticipated to reach $6 billion to $8 billion by the end of 2022, according to PYMNTS.

By PYMNTS

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IMF Managing Director Appoints Ilan Goldfajn as Director of the Western Hemisphere Department

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Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today her intention to appoint Mr. Ilan Goldfajn as Director of the Fund’s Western Hemisphere Department (WHD). Mr. Goldfajn will assume his role as the head of the IMF’s department in charge of relations with member countries in the Americas on January 3, 2022. He will succeed Alejandro Werner, whose retirement from the Fund was previously announced.

“I am delighted that Ilan will join our team as the new WHD Director. He has an impressive experience in the public and private sectors and is highly respected as an academic. His proven track record as a policymaker, communicator, as well as his depth of knowledge as an international finance executive and his familiarity with the Fund’s work will be invaluable in helping our member countries in the region,” Ms. Georgieva stated.

Mr. Goldfajn was Governor of the Banco Central do Brazil (BCB) from May 2016 until February 2019. During his tenure at the BCB, he oversaw implementation of significant regulatory changes that opened the door to new players in the financial services industry, spurred innovation and digitalization, and fostered the growth of fintech companies that has had a positive impact on Brazil’s financial sector. In 2017, he was elected Central Banker of the Year by The Banker magazine; and the year after, he was named Best Central Banker by Global Finance magazine.

MEDIA RELATIONS
PRESS OFFICER: RAPHAEL ANSPACH via IMF Communications Department

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Brazil eyes more rigs as utilisation hits 92%

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Competitive rig utilisation for Brazil-based rigs has increased by 9% in six months, reaching 92% in June. Based on the current rig demand outlook and domestic supply drying up, it is likely that operators will have to source more rigs from outside of the region.

Esgian Rig Analytics shows that there are 22 rigs currently drilling offshore Brazil, and oil and gas companies are expected to ramp up activity further with a recent surge in tendering activity.

 

By Adis Ajdin via Splash 247.com

 

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Brazil Could Provide A Quarter Of The World’s Offshore Oil In 4 Years

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As Brazil’s oil industry looks set to soar over the next decade, with the potential to provide almost a quarter of the world’s offshore oil by 2025, Big Oil is betting big on the oil-rich state.

Unlike the rest of the world, which reined in oil production in 2020 as demand stagnated in the wake of a global pandemic, Brazil actually increased its output. These sustained levels of production put it on route to double its output by 2030, making it the world’s fifth-largest exporter, a target that appears realistic thanks to its low cost-oil giving the country a competitive advantage over many OPEC+ states.

 

Via Yahoo Finance

 

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Brazil expands tax cuts to nat gas projects

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The Brazilian federal government will include the natural gas sector in an existing tax incentive program for infrastructure investments, a move that could boost the country’s burgeoning gas markets.

The new ordinance will let natural gas production, processing, pipelines and local distribution system projects waive up to 9.25pc in federal taxes on machinery or feedstock under the existing Special Regime to Incentivize Infrastructure Investments (REIDI). REIDI was created in 2007 for transportation, power, ports, energy, irrigation and sanitation sectors, to eliminate the PIS and Cofins taxes which generate funds for social programs.

 

By Flávia Pierry via Argus Media

 

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Chevron sees Brazil’s pre-salt oil as prize asset – executive

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HOUSTON, Aug 17 (Reuters) – Chevron Corp (CVX.N)is hoping to play a role in Brazil’s pre-salt oil discoveries, the U.S. oil major’s Brazil chief said on Tuesday at the Offshore Technology Conference (OTC) in Houston.

The “pre-salt chapter” might be the most important development in Chevron’s more than century-long presence in Brazil, said country manager Mariano Vela. Chevron has held interests in 11 deep water projects in Brazil’s Campos and Santos basins since 2018.

By Sabrina Valle and Marianna Parraga via Reuters

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As its startup market accelerates, Brazil could be in for an IPO bonanza

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Brazil’s startup market is reaching new heights, and its domestic stock market could benefit from the boom.

According to data from KPMG, Brazilian startups raised the most capital in a single quarter in Q1 2021, when some $1.4 billion flowed into domestic technology upstarts. That record stood until the second quarter of 2021 saw $2.7 billion raised by Brazilian startups.

 

By Nigel Sussman via Tech Crunch

 

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Customer data sharing under Open Banking commences in Brazil

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One of the most important phases of the Brazilian open banking project, which involves the sharing of customer registration and transactional data, has gone live today (13), enabling consumers to request their financial information is shared with other institutions.

The open banking initiative, introduced by the Central Bank of Brazil in early 2019, aims to boost market competition and increase financial education in the Latin American country. Under the model, use of open application programming interfaces (APIs) enable third-party developers to build applications and services around the participating financial institutions, with consumer data shared with their consent.

 

By Angelica Mari via ZD Net

 

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Brazil imported 4.88 GW of PV modules in H1

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The Brazilian solar market resumed strong growth in the middle of the second year of the Covid-19 pandemic. According to a recent report by Brazilian consultancy Greener, the country imported 4.88 GW worth of PV modules in the first half of 2021. This compares to just 2.2 GW in the first six months of last year, and surpasses the 4.76 GW of PV module imports registered for the whole of 2020.

 

By Livia Neves via PV Magazine

 

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Brazil: Brazilian Data Protection Law (LGPD) Administrative Sanctions Came Into Force

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On August 1, 2021, the administrative sanctions provided for the Brazilian Data Protection Law (LGPD) – Law No. 13.709/2018 (the “Law”) came into force and will be applied by the Brazilian Data Protection Authority (ANPD).

LGPD provides that data processing agents (controller and processor) who violate the rules provided for in the Law will be subject to:

 

By Cristiane Manzueto and Eduardo Maccari Telles via Mondaq

 

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Brazil’s Rio Grande do Norte signs MoU to expand renewables portfolio

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In Brazil, the state government of Rio Grande do Norte and Enterprize Energy have signed a Memorandum of Understanding that will enable the region to expand its portfolio of renewables.

Enterprise Energy has been tasked with identifying opportunities for the development of green hydrogen, offshore wind, and green ammonia in the state. To do so, the company will engage with local businesses, academic institutions, and local and federal authorities on infrastructure development and operation.

 

Via Power Engineering International

 

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Brazil announces national data protection council

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The Brazilian government has announced the members of the National Council for the Protection of Personal Data and Privacy (CNPD) as part of the process of implementation of the country’s data protection rules.

Announced on Monday (9) through a presidential decree, the advisory board is part of the implementation of Brazil’s General Data Protection Law (LGPD). The council is tasked with the formulation of guidelines for the application of the data protection rules, including the provision of subsidies for the creation of the national data protection and privacy policy.

 

By Angelica Mari via ZD Net

 

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Brazil connects 205 MW of wind farms in July

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August 6 (Renewables Now) – Brazil has given the go-ahead to 205.2 MW of wind farms to commence operations in July 2021, power sector regulator Aneel announced on Thursday.

In all, the country has connected 467.06 MW of new capacity last month, with wind parks accounting for 43.9% of that. Since the beginning of the year, Aneel has okayed some 2,282.93 MW of new plants to start operations.

 

By Lucas Morais via Renewables Now

 

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Brazil’s Real Jumps on Pledge of Even More Aggressive Rate Hikes

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Brazil’s real led gains among emerging market currencies after the central bank delivered its most aggressive interest rate increase in nearly two decades and promised to bring back a restrictive monetary policy to tame above-target inflation.

By Maria Eloisa Capurro and Maria Elena Vizcaino via Bloomberg

Neoenergia switches on 35 MW of wind capacity in Brazil

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August 2 (Renewables Now) – Brazilian utility company Neoenergia SA (BVMF:NEOE3) has started the commercial operation of a 34.65-MW portion of the 471.25-MW Chafariz wind complex, the firm announced last week.

With 10 turbines up and running already, a portion of the larger wind farm has been delivered 17 months before the contract signed for supplies to the regulated market becomes effective.

 

By Lucas Morais via Renewables Now

 

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UPDATE 1-Brazil consumer confidence rises to 9-month high in July -FGV

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BRASILIA, July 26 (Reuters) – Consumer confidence in Brazil rose in July to a nine-month high, a survey indicated on Monday, a fourth consecutive increase fueled more by future expectations than sentiment around the current situation.

The Getulio Vargas Foundation’s (FGV) consumer confidence index rose to 82.2 points from 80.9 in June, reaching the highest since October last year, FGV said.
By Jamie McGeever via Reuters

Shell, Gerdau to develop 190-MW solar project in Brazil

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July 19 (Renewables Now) – The Brazilian unit of oil and gas major Royal Dutch Shell Plc (AMS:RDSA) has partnered up with local steel producer Gerdau SA (BVMF:GGBR4) to develop a 190-MW direct current (DC) solar project in Minas Gerais state.

The companies have signed an agreement establishing the guidelines for the implementation of a 50/50 joint venture (JV) in relation to the project.

 

By Lucas Morais via Renewables Now

 

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Neoenergia energises transmission line for 69-MW wind park in Brazil

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July 13 (Renewables Now) – Brazilian utility company Neoenergia SA (BVMF:NEOE3) has started the commercial operation of a 500-kV transmission line in Brazil that will enable the evacuation of electricity from a 69.3-MW portion of the 471-MW Chafariz wind complex.

With 20 wind turbines, the 69.3-MW portion is currently in its testing phase, Neoenergia announced on Monday.

 

By Lucas Morais via Renewables Now

 

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Huge offshore wind farm to power green hydrogen in Brazil

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French renewable energy company Qair has signed an initial deal to build an offshore wind farm to support green hydrogen production in the northern Brazilian state of Ceará, the state government has announced.

Under the memorandum of understanding (MoU) signed this week with state governor Camilo Santana, the company’s Brazilian subsidiary would build the 1,216MW Dragao do Mar wind development on the state’s continental shelf. Electricity from the turbines would supply an electrolysis plant with the capacity to produce 296,000 tonnes a year of green hydrogen to be located at the Pecém Port Complex in Ceará.

 

By Tom Azzopardi via Wind Power Monthly

 

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Anhydrous ethanol spot premium in Center-South Brazil trading at discount over term contracts

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The anhydrous ethanol spot premium over hydrous in Brazil’s Center-South traded at 13%, S&P Global Platts’ assessment showed July 6, down from the 14% average anhydrous premium in term contracts for the Center-South 2021-22 crop.

Platts considered hydrous and anhydrous free of taxes to calculate the spot premium.

 

By Nicolle Monteiro de Castro via S&P Platts

 

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Brazil’s Oil Boom Continues Unabated

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Latin America’s largest oil producer Brazil is one of the worst affected countries globally by the COVID-19 pandemic. According to the World Health Organization, Brazil is the third ranked country by volume of cases and second by deaths. There were fears earlier this year that the rapid spread of the virus would derail Brazil’s offshore oil boom, particularly with a surge in cases among energy sector workers. By March 2021 petroleum and natural gas production was in decline with total hydrocarbon output falling by nearly 3% year over year to an average of 3.6 million barrels of oil equivalent per day. Such was the severity of the pandemic and sharp increase in cases Brazil’s hydrocarbon production was expected to fall further. Nevertheless, by April operations began to recover and the country’s economically critical oil output was rising.

 

By Matthew Smith via Yahoo Finance

 

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Brazil hopes to expand fresh fruit exports to China

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RIO DE JANEIRO, June 21 (Xinhua) — Brazil hopes to expand its fresh fruit exports to China by adding several of its leading products, Brazilian Agriculture Minister Tereza Cristina said on Monday.

In an interview with the foreign press, Cristina said Brazil is the third-largest fruit producer in the world, but a low-ranked exporter. The country only export melon to China.

 

Via Xinhua News

 

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Brazil’s banking system braces for new ESG regulation

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In 2014, the state of São Paulo, Brazil’s most populous region and one of Latin America’s most heavily urbanized areas, experienced a historic drought for more than two years.

“We had to take short showers,” said Christopher Wells, Banco Santander SA’s global head of environmental and social risk. “It makes you think about life in a very different way.”

 

By David Feliba via S&P Global Market Intelligence

 

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Brazil regulation seen allowing more U.S. GMO crop imports

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SAO PAULO (Reuters) – Brazil’s government published a new regulation on Thursday to align rules for genetically modified (GMO) crops with global standards, a move the agriculture lobby says will make it easier to import more GMO soy and corn from the United States.

Under the new rules, published by Brazilian biosecurity regulator CTNBio in the official government gazette, crops with different genetic modifications can be transported in the same ship, provided each modification is already approved, industry group CropLife said.

 

By Roberto Samora via Reuters

 

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Brazil reaches 19 GW of installed wind power capacity

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A decade ago, the segment still had just over 1.5 GW of installed capacity and today it is the second largest, only behind hydroelectric generation.
Wind generation in Brazil reached the mark of 19 GW of installed capacity, which represents 10% of the national electricity matrix. According to data presented by the Brazilian Wind Energy Association (Abeeólica), there are 726 wind farms and more than 8,500 wind turbines in operation. A decade ago, the segment still had just over 1.5 GW of capacity and today it is the second largest, only behind hydroelectric generation.

 

Via EVWind

 

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Brazil’s Paraiba to become home to 1.6-GW solar project and PV factory

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June 14 (Renewables Now) – Brazilian energy company Rio Alto Energias Renovaveis SA will implement a 1,625-MW solar power complex in Paraiba state, governor Joao Azevedo announced on Friday.

Named Santa Luzia, the solar project will consist of 28 farms with an individual capacity of 58 MWp. Rio Alto estimates it will initially invest some BRL 4.1 billion (USD 801.5m/EUR 662m) in the scheme.

 

 

By Lucas Morais via Renewables Now

 

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How simple steps led to a big leap for Brazil’s schools

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There may not be a simple secret to improving public schools but, if there is a formula, then the Brazilian city of Sobral might lay claim to it.

Located in the historically poorer north-east of the country, the municipality of 210,000 residents once had middling learning outcomes. An assessment of third-grade students (aged eight) there two decades ago found that two out of five could not read a simple word.

 

By Michael Pooler via Financial Times

 

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Brazil to study costal wind power potential

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June 11 (Renewables Now) – Brazil’s Ministry of Science, Technology and Innovation (MCTI) will carry out a technical study that will measure the wind power potential of the coast between the states of Amapa and Rio Grande do Norte.

The announcement was made on Wednesday after a meeting between the MCTI minister, Marcos Pontes, and senator Davi Alcolumbre. In all, the government will invest BRL 5 million (USD 984,000/EUR 808,000) to conduct the study.

 

By Lucas Morais via Renewables Now

 

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Brazil economy rebounds to pre-pandemic level, pointing to brighter 2021

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Brazil’s economy grew by 1.2% in the first quarter, data showed on Tuesday, faster than economists had expected, as rebounding services and investments took Latin America’s largest economy back to is size at the end of 2019, before the pandemic hit.

It was the third consecutive quarter of growth. While the rebound has slowed, underlying figures suggest strong foundations for a continued recovery, prompting upward revisions to full-year forecasts and a surge in Brazil’s currency.

By Jamie Mcgeever via Reuters

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Brazil expects 5G auction next month

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Brazil’s communications Minister Fabio Faria said on Wednesday the government expects the spectrum auction for 5G networks to happen next month.

The minister does not expect the analysis of the auction rules by Brazil’s audit court TCU to delay the auction, saying the government has responded to all the court’s questions.

Faria said he expects all state capitals in the country to have 5G Stand Alone working by July next year. Telecom operators will have to comply with all the requirements of the auction by 2028. The auction mandates companies to deliver 4G internet networks to all Brazilian cities and fiber networks in Brazil’s northern region.

By Lisandra Paraguassu via Reuters.

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Brazil announces digital currency guidelines

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Brazil’s central bank has launched the general guidelines for the digitization of its currency, the real.

The announcement on the intentions to create a Central Bank Digital Currency (CBDC) made today (24) is part of the central bank’s agenda for the modernization of the Brazilian payments industry, which included the launch of instant payments last November and the ongoing implementation of open banking.

 

By Angelica Mari via ZD Net

 

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Enbridge, Fluxys, EIG bid for Brazil’s top natgas import pipeline, sources say

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A consortium of Canada’s Enbridge (ENB.TO), Belgium’s Fluxys (FLUX.BR) and U.S. private equity firm EIG Global Energy Partners has submitted a non-binding offer for Brazil’s largest natural gas import pipeline, three people with knowledge of the matter told Reuters this week.

Petroleo Brasileiro SA (PETR4.SA), as Brazil’s state-run oil company is formally known, put its stakes in the 2,593-kilometer (1,611-mile) TBG pipeline, which imports gas from Bolivia, and the far southern TSB pipeline up for sale in December. Non-binding offers were due by late April.

By Carolina Mandl, Sabrina Valle and Gram Slattery via Reuters

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Brazil wants Mercosur to agree on a 20% reduction of the Common External Tariff

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Brazil is determined that Mercosur’s Common External Tariff, TEC, be reduced by 20% in two rounds of unilateral cuts, 10% immediately, and the other 10% in December. This is the official strategy and position of Brazil for the extraordinary meeting in June of the four founding members of the group, in Buenos Aires, underlined Lucas Ferraz, foreign trade secretary of the Brazilian Ministry of the economy.

According to Mercosur rules all decisions must be adopted by consensus, which means that the TEC has become a contentious issue between the two main partners Brazil, and Argentina, which is reluctant to advance so fast or take such bold steps.

 

Via Merco Press

 

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Brazil sets price caps for June 25 auctions

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May 19 (Renewables Now) – Brazil’s power sector regulator Aneel approved on Tuesday the price ceilings for the power generation auctions scheduled for June 25, 2021.

Dubbed A-3 and A-4, the tenders will contract power from wind, solar, hydro and biomass-based thermal plants. The highest maximum bidding price is set at BRL 292 (USD 55.5/EUR 45.4) per MWh.

 

By Lucas Morais via Renewables Now

 

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Brazil Looks Set for a Shipping Boom—Leaving Some Concerned about a Lack of Oversight

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Since he first took office in 2019, Brazil’s president, Jair Bolsonaro, has prioritized transforming the country’s logistics network for transporting domestic goods. Historically highway-centric, the shipping of goods around the country by truck is a major source of congestion and carbon dioxide pollution. In the next few weeks, the Brazilian Congress looks set to approve a bill that will encourage the transportation of goods by sea. But the bill has environmentalists, and even some government employees, alarmed as it does little to address the potential impacts on marine ecosystems that would result from a sharp increase in shipping.

 

By Eduardo Campos Lima via Hakai Magazine

 

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Commodities Cycle Should Benefit Brazil for at Least Two Years

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The rising prices of raw materials, such as soybeans and iron ore, will likely benefit Brazil for at least the next two years. Although it is too early to predict the size of this new cycle, the perception of analysts interviewed by Folha is that it will be less intense than the commodity boom of the 2000s.

Commodity prices using the CRB (Commodity Research Bureau) index rose by almost 70% in one year. In the same period, metallic commodities tripled in price in the international market, mainly in iron ore (+ 150%), and agricultural products have already emerged from a longer appreciation, mainly from soy.

 

By Douglas Gavras via Folha de S. Paulo

 

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Brazil real hits 4-month high as global banks turn hawkish on interest rates

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Brazil’s real surged on Thursday to close at its highest in almost four months against the dollar, a day after the central bank struck a hawkish tone in its statement that accompanied a second aggressive hike in borrowing costs.

A clutch of major global banks published notes revising their outlook on Brazil’s benchmark Selic rate, which they say is now likely to rise more quickly or more aggressively.

By Jamie McGeever via Reuters

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EDF Renewables to build 242-MW wind park in Brazil

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April 29 (Renewables Now) – EDF Renewables, a unit of French utility EDF (EPA:EDF), will be building a 242-MW wind farm in Brazil’s Paraiba, the state’s government announced this week.

Under a newly-signed protocol of intent, the European company will invest around BRL 1 billion (USD 187m/EUR 154m) in the development of the Serra do Serido wind farm in the towns of Junco de Serido and Santa Luzia.

 

By Lucas Morais

 

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Brazil to invest USD 70m in solar power for Amazon region

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April 23 (Renewables Now) – The Brazilian Ministry of Mines and Energy (MME) will initially invest BRL 386 million (USD 70.3m/EUR 58.5m) to supply clean energy to isolated communities in the Amazonian archipelago of Marajo.

This initial agreement will benefit 50,000 people that live in the municipalities of Curralinho, Melgaco and Portel, in the state of Para, through electricity transmission networks and solar energy generation systems, MME announced this week.

 

By Lucas Morais via Renewables Now

 

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Brazil sees solar boom ahead of cut in subsidies for new projects

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Power utilities and developers are rushing to register solar projects in Brazil, one of the most promising markets for renewables, as it prepares to cut subsidies for new solar installations and wind farms, according to a report by consultancy ePowerBay.

Spain´s Iberdrola (IBE.MC), France´s Voltalia (VLTSA.PA), EDF (EDF.PA), Italy´s Enel (ENEI.MI) and Portugal´s EDP Renewables are among the main players developing solar projects in Brazil, as well as Atlas Energia, controlled by the British private equity firm Actis, ePowerBay said on Tuesday.

By Luciano Costa via Reuters

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Brazil’s GDP on track to better results than expected

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Brazil’s Economic Activity Index (IBC-Br), released by the Central Bank and believed to be an omen of the country’s Gross Domestic Product (GDP) rose 1.70% in February 2021, against January’s figures, it was announced Monday.

The new data show a positive variation of 0.98% year to year, against the -0.4% analysts had envisioned. The official forecast of the Central Bank on GDP expansion for 2021 is 3.6%.

 

Via Merco Press

 

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Brazil’s PIX surpasses 1 billion transactions

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The news: Brazil’s central bank-run instant payments system processed 1.05 billion transactions worth BRL787 billion ($152.6 billion) between November and March, per Mobile Time.

Here’s how it works: PIX, which launched in November, lets users make real-time money transfers 24/7 to individuals or businesses without needing a bank account. To use the smartphone-based service, users have to register “keys” like their social security numbers, mobile phone numbers, or email addresses with a bank or fintech as an authentication method.

 

By Adriana Nunez via eMarketer

 

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Norway’s Hydro to buy LNG for Brazil plant in carbon-reduction push

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Norwegian metals maker Norsk Hydro (NHY.OL) said on Friday it has struck a preliminary deal with New Fortress Energy (NFE.O) to buy liquefied natural gas (LNG) for its Alunorte alumina refinery in Brazil, switching the energy source from fuel oil.

Supply of LNG by the U.S.-based energy company to the Barcarena municipality is expected to start in 2022 under a 15-year deal, according to Hydro.

Via Reuters

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Brazil Looks To Finance Fuel Subsidies With Oil Auctions

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Brazil is studying the possibility to finance a future fund to subsidize domestic fuel prices with part of the proceeds it expects to receive from an offshore oil auction later this year, a source with direct knowledge of the government’s plans told Reuters this week.

Fuel prices and the hikes in those prices early this year became the bone of contention between Brazilian President Jair Bolsonaro and state oil firm Petrobras—a spat that ended with Bolsonaro ousting the chief executive of the Brazilian national oil company, Roberto Castello Branco.

 

By Tsvetana Paraskova via Yahoo Finance

 

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Eletrobras to investigate green hydrogen production in Brazil

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Brazil state utility Eletrobras and its research arm Cepel are partnering with Siemens Energy to develop green hydrogen production.

Under the agreement, the three partners are to implement joint studies covering the full hydrogen technology cycle from production to consumption, accompanied by the development of a scalable pilot production plant.
Based on the outcomes, the companies anticipate moving towards the implementation of a commercial-scale production plant to produce hydrogen with a zero carbon footprint.

 

By Jonathan Spencer Jones via Power Engineering International

 

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Brazil Central Bank Pledges to Stop Core Inflation Contagion

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Brazil’s central bank is closely monitoring if a recent spike in commodity prices will continue to affect core inflation, and particularly expectations for 2022, as it calibrates monetary policy, according to its President Roberto Campos Neto.

The bank delivered an outsized rate hike last month and promised another in May as it realized that what it deems as temporary price shocks were having a more lasting impact on inflation, even when excluding more volatile items such as food and energy.

 

By Andrew Rosati and Shery Ahn

 

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Brazil’s 2021 interest rate outlook rises to 5.25%, survey shows

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BRASILIA, April 12 (Reuters) – Brazil’s 2021 interest rate outlook rose to 5.25%, a central bank survey of economists published on Monday showed, after policymakers’ repeated comments that aggressive tightening now means borrowing costs will not have to rise as much in the end.

The median forecast for the benchmark Selic rate from over 100 economists in the central bank’s weekly ‘FOCUS’ survey increased from 5.00% the week before, and 4.50% four weeks ago.

By Jamie McGeever via Reuters

UPDATE 1-Brazil FX dynamics improving, market more balanced -central bank director

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BRASILIA, April 8 (Reuters) – The dynamics driving Brazil’s currency are improving and the market is now more balanced, despite lingering fiscal uncertainty, central bank monetary policy director Bruno Serra said on Thursday.

In an online debate hosted by event management company Consulting House, Serra said the central bank’s market interventions earlier this year have helped greatly, while the capital flows picture for the real is also brighter.

 

By Jamie McGeever and Gabriel Ponte via Reuters

 

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FinanZero, Brazil’s free online credit marketplace, raises $7M

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FinanZero, a Brazilian online credit marketplace, announced today that it has closed a $7 million round of funding – its fourth since it launched in 2016 was founded in 2016. It has raised a total of $22.85 million to date.

The real-time online loan broker allows people to apply for a personal loan, a car equity loan, or a home equity loan for free and receive an answer in minutes. A key to FinanZero’s success is that it doesn’t offer the loans itself, but has instead partnered with about 51 banks and fintechs who back the loans.

 

By Marcella McCarthy via TechCrunch

 

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WhatsApp gains regulatory approval to relaunch payments service in Brazil

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The Facebook-owned messaging platform has the green light to launch its payments service in Brazil after gaining approval from the country’s central bank, per Reuters. WhatsApp is only allowed to operate its peer-to-peer (P2P) payments service; though Facebook is still seeking approval, it can’t yet extend this service to merchants.

WhatsApp has hit roadblocks launching its payments service globally, with regulators citing antitrust concerns.

 

By Adriana Nunez via eMarketer

 

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Anhydrous ethanol premium over hydrous in Center-South Brazil at record high

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New York — The spot premium of anhydrous ethanol over hydrous in Brazil’s Center-South for the 2020-21 crop, which ended March 31, averaged 14.3%, up 3% from the prior crop and at the highest premium since S&P Global Platts started to track it for the 2014-15 crop.

Platts considered hydrous and anhydrous free of taxes to calculate the spot premium.

The highest premium was recorded at 26.8% during the three first days of the 2020-21 crop, while the lowest at 4.2% was on March 10.

 

By Nicole Monteiro de Castro

 

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Landmark study shows how child grants empower women in Brazil and South Africa

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Since the mid-1990s, new approaches to poverty reduction have been introduced in countries across Africa, Asia and Latin America. Some have involved income transfer programmes that target poorer citizens based on various means tests. Most have targeted female caregivers, primarily mothers.

The most expansive child and family grants are in Brazil, Mexico, Chile, Argentina and South Africa, which has put in place the biggest social provision net in Africa.

 

By Leila Patel, Natasha Borges Sugiyama and Wendy Hunter via The Conversation

 

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Brazil’s Patria to launch $250 million SPAC

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SAO PAULO (Reuters) – A special purpose acquisition company (SPAC) backed by Brazilian asset manager Patria Investments Ltd plans to raise $250 million in an initial public offering on Nasdaq, according to a securities filing.

Patria, which has Blackstone Group Inc among its investors, said on Friday its executive officers may sponsor the blank-check company Patria Acquisition Co, based in the Cayman Islands, with roughly $92 million.

 

By Carolina Mandl via Reuters

 

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Brazil to complete Angra 3 finance package in 18 months, says BNDES director

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Speaking as part of a high-level panel at World Nuclear Association’s Strategic eForum on Sustainable Finance on 18 March, Mendes Cabral said BNDES is learning lessons from its previous involvement with the Angra 3 project. In addition, it is working to expand its issuance of green bonds to include nuclear energy within a wider, environmental, social, and governance (ESG) framework.

Two nuclear power units – Angra 1 and 2 – supply about 3% of Brazil’s electricity. The units are operated by Eletrobras subsidiary Eletronuclear.

 

Via World Nuclear News

 

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Equinor and Partners Choose Concept for Offshore Brazil Field

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Equinor (NYSE: EQNR) reported late last week that a development concept has been approved for the BM-C-33 gas/condensate field in the pre-salt Campos Basin offshore Brazil.

“BM-C-33 is a key project in our portfolio and concept select is an important milestone in our effort to mature the project,” Geir Tungesvik, senior vice president for projects with operator Equinor, remarked in a written statement emailed to Rigzone. “It is important to further optimize and improve the project business case to make it more robust for future market.”

 

By Matthew V. Veazey via Ringzone

 

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UPDATE 1-Brazil government raises 2021 inflation forecast to 4.4%

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BRASILIA, March 17 (Reuters) – Brazil’s economy ministry raised its inflation outlook for this year to 4.4% on Wednesday, the same day the central bank is widely expected to raise interest rates for the first time in six years to combat the strong buildup in price pressures.

That is up sharply from the ministry’s previous forecast of 3.2% in November and well above the central bank’s year-end target of 3.75%. It is lower, however, than what many economists are projecting.
By Jamie McGeever via Yahoo Finance

Brazil passes natural gas law to attract investors, cut red tape

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SAO PAULO, March 17 (Reuters) – Brazil’s lower house approved a new regulatory framework for the natural gas sector in the early hours of Wednesday, a move the government hopes will increase competition in the industry.

The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro.

 

By Luciano Costa via Yahoo Finance

 

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Economic activity up 1.04% in Brazil

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Brasília – Economic activity in Brazil was up in January 2021 from December 2020, as per numbers made public this Monday (15) by the Brazilian Central Bank. This was the ninth straight month-on-month increment – the last time activity shrank was in March and April 2020.

The season-adjusted Central Bank’s Economic Activity Index (IBC-Br) was up 1.04% in January from December. Year-on-year in January, it was down 0.46% (non-adjusted, since equal months are being compared). In the 12 months through January, the IBC-Br was down 4.04%.

 

Via Brazil-Arab News Agency

 

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Powertis to build 225 MW of PV parks in Brazil

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March 15 (Renewables Now) – Spanish firm Powertis SA has started the construction works on 225 MW of solar photovoltaic (PV) projects in the Brazilian states of Sao Paulo and Minas Gerais.

The company, a subsidiary of Soltec Power Holdings SA (BME:SOL), is planning to install two 112.5 MW PV facilities in the municipalities of Pedranopolis and Araxa, local news agencies reported last week.

 

By Lucas Morais via Renewables Now

 

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Brazil approves limited $8bn pandemic spending package

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Brazil’s Congress has approved an $8bn emergency aid package to help deal with a second wave of the coronavirus pandemic that has triggered economic shutdowns across the country.

The package, which is considerably smaller than the $50bn stimulus passed at the beginning of the crisis last year, was welcomed across the political spectrum, with economists and investors lauding its limited impact on Brazil’s growing debt pile.

 

By Bryan Harris and Michael Pooler via Financial Times

 

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Art for community development

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In underserved communities, adolescents and young people do not have qualified opportunities for work and income. The result is that many of them end up continuing their parents’ cycle of poverty. This one-year project will benefit 110 adolescents from Santa Luzia do Itanhy. It will provide an art & design residence with Ronaldo Fraga (well-known Brazilian stylist) and Miro Dantas (Brazilian artist) to introduce new illustration techniques using digital technologies.

 

By IPTI – Research Organization for Technology and Innovation INC

 

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Balancing economic growth and the environment: lessons from Brazil

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In many ways, Brazil is a global leader in the energy transition. Coupled with a strong domestic oil and gas sector that makes up almost 11% of its economy, more than 46% of Brazil’s energy mix is powered by renewable energy sources and Brazil also has the third- largest renewable electricity generation capacity globally. Last year, the World Economic Forum’s Energy Transition Index ranked Brazil at 45th out of 115 countries, driven by its strong performance in in areas such as near-universal energy access and access to clean cooking fuels, a high degree of energy security and the relatively low carbon-intensity of its energy mix.

 

By Stephanie Jamison and Roberto Bocca via World Economic Forum

 

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Brazil’s Renova gets DIP loan for 400-MW wind project

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March 8 (Renewables Now) – Brazilian renewables developer Renova Energia SA (BVMF:RNEW11) has received a BRL-362.5-million (USD 63.7m/EUR 53.4m) debtor-in-possession (DIP) loan to complete the 400-MW Phase A of the Alto Sertao III wind power complex.

The financing came from a bank credit note structured by Brazilian independent resource manager Quadra Gestao de Recursos Ltda, contracted by the company’s subsidiary Chipley SP Participacoes SA, Renova announced last week.

 

By Lucas Morais via Renewables Now

 

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Staples drove exports from Brazil during the pandemic

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Brasília – Exports from Brazil proved relatively resilient amid the Covid-19 pandemic in 2020, underpinned by stronger sales of staple goods. According to the Brazilian Central Bank, a hike in exports of soya, especially in Midwest Brazil, and iron ore, in the North, whose prices went up.

Exports of manufactured goods slowed down, as a result of the global economic slump, and this impacted predominantly the Southeast and South. A Central Bank analysis of exports was made public this Thursday (4) alongside its regional reports.

 

Via Brazil-Arab News Agency

 

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Massive stimulus helps Brazil to limit losses

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The Brazilian economy contracted 4.1 per cent last year, one of the most resilient performances in Latin America, after a massive fiscal stimulus package tempered the impact of the coronavirus pandemic.

Official data released on Wednesday showed that the Brazilian economy grew 3.2 per cent in the fourth quarter last year from the previous quarter, when it expanded 7.7 per cent. That left the Brazilian economy 1.1 per cent smaller than it was in the fourth quarter of 2019, before the pandemic spread globally.

 

By Bryan Harris via Financial Times

 

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Ports in Brazil handled 1 billion tons in 2020

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São Paulo – Despite the Covid-19 pandemic, cargo throughput at ports in Brazil was up 4.2% in 2020 from 2019 to 1.15 billion tons, as per an annual statistical report released this week by the National Agency for Waterway Transportation (Antaq).

The numbers include throughput at state-run and private ports combined. State-run units accounted for 34% of throughput, while private facilities handled 66%. The majority of cargo – 775.5 million tons – was outgoing, i.e., exports, whereas 377.2 million was incoming, i.e., imports .

 

Via Brazil-Arab News Agency

 

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UPDATE 1-Brazil real slide not justified by fundamentals, central bank president says

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BRASILIA, March 2 (Reuters) – Brazil’s real has suffered more than other emerging currencies as investors adjust to changing liquidity conditions globally, but some of it has not been justified by economic fundamentals, central bank President Roberto Campos Neto said on Tuesday.

Speaking in an online event hosted by Arko Advice and Empiricus, Campos Neto said the central bank has large currency reserves and will continue to act as it sees fit, adding that it remains focused on using all the tools at its disposal to meet it inflation goals.

 

By Jamie McGeever and Gabriel Ponte via Reuters

 

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Brazil may host $5.4bn green hydrogen plant

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Australia-based hydrogen specialist Enegix Energy is planning to build a green hydrogen plant on 500 hectares of commercial land in the Port of Pecém, in the Brazilian, northeastern state of Ceará.

The company said that a memorandum of understanding for the ‘Base One’ project was signed in mid-February with the state governor Camilo Santana and that the planned facility should generate over 600 million kilograms of green hydrogen per year. “Enegix’s planned next-generation facility will be run completely using renewable energy, with zero emissions, and will harness the great renewable energy potential that Ceará has available, with solar and onshore and offshore wind to be realized, allowing Base One to be expanded to over 100 GW to meet global demand,” the Australian company said in a statement.

 

By Emiliano Bellini via PV Magazine

 

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Brazil’s trade with Arab countries up 17%

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São Paulo – Brazil’s trade with the Arab countries climbed 17.3% in January from a year ago. The total amount reached USD 1.22 billion, and Brazil ran a USD 563.31-million surplus. The figures were made public by the Arab Brazilian Chamber of Commerce (ABCC).

Year on year, Brazil’s revenue from exports to the Arab countries climbed 7.4% to USD 891.85 million, keeping the Arab bloc as the 3rd largest destination of sales from Brazil, only behind China and the United States.

 

Via Brazil-Arab News Agency

 

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UPDATE 1-Brazil unemployment rate falls to 13.9% in quarter through December

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BRASILIA, Feb 26 (Reuters) – Brazil’s unemployment rate ended last year at 13.9%, figures showed on Friday, extending a recent dip as workers returning to the labor market found jobs, but the average jobless rate in 2020 was the highest since comparable records began in 2012.

That was down from 14.1% in the three months to November, statistics agency IBGE said, in line with the median forecast in a Reuters poll of economists and slipping further from the record 14.6% in the three months to September.
By Jamie McGeever via Yahoo Finance

Arabs the 2nd largest destination of food items from Brazil

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São Paulo – Exports from the Brazilian food and beverage industry to the Arab countries were down 8.7% in 2020 from the previous year. The bloc purchased USD 6.19 billion worth in products last year. Despite the decline, the Arabs remain as the second largest purchasing market of Brazil’s food industry, only behind Asia. The figures were made public on Wednesday (24) by the Brazilian Food Industry Association (ABIA).

The Brazilian food industry’s top purchasing countries include Saudi Arabia and the United Arab Emirates, which ranked 6th and 8th, respectively. “There’s a major focus on Asia and the Arab countries, where we have decades-long partnerships and there’s a very fruitful, complementary economy, and we still have many opportunities to tap into,” ABIA board chair Grazielle Parenti said during a press conference.

 

By Thaís Sousa via Brazil-Arab News Agency

 

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Brazil’s RecargaPay Raises $70 Million To Expand Payments App

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Brazil’s RecargaPay has raised $70 million in a Series C funding round to expand its payments platform for consumers and small businesses. The funding round, led by IDC Ventures and Fuel Venture Capital, brings RecargaPay’s total funding to over $100 million. Other investors include Experian, LUN Partners and ATW, according to a press release.

“Founded in Brazil in 2010, RecargaPay set out to provide a comprehensive and user-friendly financial services ecosystem that would be accessible even to people who do not have bank accounts,” the press release reads. The company’s goal is to “democratize access to digital financial services for millions of new users.” PYMNTS recently noted that more than 45 million adults in Brazil remain unbanked. The firm will also use the funding to further develop Prime+, its subscription program.

 

Via Pymnts

 

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Brazil current account deficit 0.65% of GDP, smallest in 13 years

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BRASILIA (Reuters) – Brazil’s current account deficit in the year to January as a share of the overall economy shrank to its smallest in 13 years, official figures showed on Wednesday, thanks mainly to a decline in the primary income and services deficits in the month.

The current account deficit of 0.65% of gross domestic product in the 12 months to January was down from 0.87% the previous month and the smallest since February, 2008, central bank figures showed.

 

By Jamie McGeever via Reuters

 

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Brazil’s consumer confidence rises in February for first time in five months

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BRASILIA (Reuters) – Consumer confidence in Brazil rose in February for the first time in five months, a survey indicated on Wednesday, lifted by the start of a nationwide vaccination program against COVID-19 and prospects of the government resuming emergency income transfers to the poor.

The rise was most pronounced among consumers in the lowest income bracket, although the overall level of confidence was still below that registered at the end of last year, the Getulio Vargas Foundation’s (FGV) findings showed.

 

By Jamie McGeever via Reuters

 

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Brazil Internet of Things Market, Competition, Forecast & Opportunities, 2021-2026

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DUBLIN–(BUSINESS WIRE)–The “Brazil Internet of Things Market by Platform (Device Management, Network Management and Application Management), by Component (Hardware, Services and Software), by Application, by Region, Competition, Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.

The Brazilian Internet of Things Market stood at USD 5.67 Billion in 2020 and is expected to grow at CAGR of 18.99% in the next five years to reach USD 16.43 Billion by 2026 on account of increase in adoption of cloud-based platforms, development of wireless networking technologies and surge in number of connected devices.

 

Via Business Wire

 

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Brazil: Industry 4.0 And Intellectual Property In Brazil

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The great technological advances of the last few decades, added to the world communication revolution with the popularisation of the internet, have resulted in an increase in data flows and the immediate transmission of information on a global scale. This scenario has allowed data to be elevated to the category of an essential economic asset, so that digitalisation has gained increasingly more space on the industrial development agenda.

Industry is extremely relevant in the Brazilian economic scenario. It currently represents 20.9% of national GDP, accounts for 70.1% of exports of goods and services, in addition to representing 72.2% of business investment in research and development (R&D) and 33% of federal taxes, not including social security revenues1.

 

By Bianca Kremer and Gustavo Piva de Andrade via Mondaq

 

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Cloud-focused company aims for growth in Brazil

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Claranet, a technology multinational focused on managed cloud services, has announced an investment of $100 million in its Brazil operation.

According to Brazilian technology site Tele.Síntese, the investment will support three aims: to continue with accelerated organic growth, which is claimed to have reached 37 per cent year on year over the past five years; to invest in improving internal performance; and to enable the acquisition of other companies in the sector.

 

By Vaughan O’Grady via Developing Telecoms

 

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Faro Energy to build 2.5 MW of PV plants in Brazil for retailer C&A

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February 16 (Renewables Now) – Faro Energy, a distributed solar company with global headquarters in London, and Brazilian retailer C&A Modas SA (BVMF:CEAB3) have signed a contract for the development of 2.5 MW of solar projects in Brazil.

Faro Energy plans to build two photovoltaic (PV) parks consisting of around 7,000 solar panels. The systems are expected to be up and running in the first half of 2021 and power 11 of C&A’s stores in the country’s capital Brasilia and Rio de Janeiro state.

 

By Lucas Morais via Renewables Now

 

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Brazil surpasses 4.7 GW of DG solar

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February 11 (Renewables Now) – Brazil’s installed solar distributed generation (DG) capacity has surpassed 4.7 GW, statistics by power sector regulator Aneel show.

The total DG capacity across the country went over 4.9 GW, as of Wednesday night, according to Aneel’s almost real-time update, with solar power being the most popular source, counting 401,199 grid-connected systems.

 

By Lucas Morais via Renewables Now

 

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Brazil passes law giving autonomy to central bank

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Lawmakers in Brazil have voted to grant autonomy to the central bank in a move aimed at improving the country’s reputation among international investors by removing the risk of political interference in monetary policy.

The legislation was approved by federal deputies in the lower house of Congress on Wednesday, after an almost year-long delay following the coronavirus crisis and local elections.

 

By Michael Pooler and Bryan Harris

 

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UPDATE 2-Brazil inflation slows in January, but 4.5% annual rate remains punchy

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BRASILIA, Feb 9 (Reuters) – Monthly inflation in Brazilslowed in January as a sharp fall in electricity prices draggeddown housing costs, official figures showed on Tuesday, but theannual rate of inflation remained high and significantly abovethe central bank’s year-end goal.

It was the third month in a row the benchmark annual IPCAconsumer inflation rate has been above 4%, having more thandoubled from the record low below 2% last May.

 

By Jamie McGeever via Yahoo Finance

 

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Open Banking Intro, Safer Internet Day 2021, Indústria 4.0, CannaBusiness Summit Brazil 2021 & Muito Mais

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A Matera, empresa de desenvolvimento de tecnologia para o mercado financeiro, fintechs e gestão de riscos, realiza a live “Open Banking Intro” logo mais, às10h30, com a participação especial do Banco Central. O objetivo é reunir especialistas para esclarecer as principais características do open banking, para que seus impactos e oportunidades sejam visualizados com mais clareza. Entre os speakers, estarão Carlos Netto, CEO da Matera, João André Pereira, chefe do Departamento de Regulação do Sistema Financeiro do Banco Central, Márcio Alexandre, superintendente de governança de TI e segurança cibernética do Sicoob, e Fabiano Amaro, consultor de negócios da Matera. A mediação da conversa fica a cargo de Alexandre Pinto, diretor de inovação e novos negócios da empresa. A inscrição é gratuita.

 

Via Forbes Brazil

 

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Vehicle exports from Brazil up in January

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São Paulo – Vehicle exports from Brazil were up 21.9% year on year in January, National Motor Vehicle Manufacturers Association (Anfavea) reported on Thursday (4). Car sales reached 25,000 units last month. Month on month, though, they declined by 35.8%.

The same occurred with Brazilian vehicle production in January: it climbed year on year, but slid month on month. It was down 4.6% in January, from 209,300 to 1997,700 units. Year on year, it climbed by 4.3%.

 

Via Brazil-Arab News Agency

 

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Neoenergia looks to MPLS for smart grid expansion in Brazil

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Brazilian electricity company Neoenergia is modernising its communication networks with MPLS (Multi-Protocol Label Switching).

Neoenergia is to adopt MPLS in the networks of its four distribution concessionaries, Celpe in Pernambuco state, Coelba in Bahia, Cosern in Rio Grande do Norte and Elektro in São Paulo and Mato Grosso do Sul.

 

Via Smart Energy

 

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Brazil favelas launch bank amid economic hit of pandemic

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The economic toll of the coronavirus pandemic has hit especially hard in Brazil’s favelas, but the country’s 10 biggest slums now have a plan to fight back: they are launching their own bank.

Dubbed the “G10 Bank,” the new financial institution is set to open later this month, offering micro-loans to small business owners struggling to survive the pandemic and debit cards to slum-dwellers excluded from the traditional banking system.

 

By Florence Goisnard via Yahoo Finance

 

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Open Banking kicks off in Brazil

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Today (1) the first of four phases of Brazil’s Open Banking implementation has started, as part of the country’s broader agenda of modernization of the national financial ecosystem.

The initiative, led by the Central Bank of Brazil, also aims to boost market competition and increase financial education in the Latin American country. Under the model, use of open application programming interfaces (APIs) enable third-party developers to build applications and services around the participating financial institutions, with consumer data shared with their consent.

 

By Angelica Mari via ZD Net

 

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2021 Will Be a Key Year for Brazil’s Fiscal Reform Agenda

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Fitch Ratings-New York/London-01 February 2021: Brazil’s large deficit and high public debt burden underscore its continuing fiscal challenges notwithstanding last year’s somewhat better-than-expected performance, Fitch Ratings says. With general elections due in October 2022, this year is a key year to revitalize the government’s fiscal reform agenda for boosting budgetary flexibility and maintaining the credibility of the spending cap.

Data on Friday showed Brazil’s general government deficit more than doubled to 14% of GDP from about 6% in 2019. This was better than our forecast of 16.4% primarily due to under-execution of budgeted spending, which improved the central government outturn, and higher regional government surpluses. Central government revenue contracted by a nominal 10.2%, while primary spending grew 35% as Brazil implemented one of Latin America’s biggest Covid-19 support packages.

 

By Shelly Shetty and Mark Brown via Fitch Ratings

 

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Petrobras makes hydrocarbons discovery in block C-M-411 offshore Brazil

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Brazilian state-owned oil firm Petróleo Brasileiro (Petrobras) has made a hydrocarbon discovery in the wildcat well of block C-M-411 in the pre-salt Campos Basin offshore in Brazil’s Rio de Janeiro state.

The hydrocarbon discovery was made at the well 1-BRSA-1377-RJS, informally known as Urissanê. It is located approximately 200km from the coast and at a water depth of 2,950m.

 

Via Offshore Technology

 

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Brazil’s railway sector expects USD 6 bn in investments

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São Paulo – Brazil’s railway sector expects a BRL 30 billion (USD 6 billion) in investments. This figure is particularly due to the renewal of concessions in some important lines. “It’s actually a conservative forecast, due to the renewal of contracts,” Brazil’s National Association of Rail Carriers (ANTF) executive director Fernando Paes told ANBA.

ANTF points out that these early contract extensions only could yield around BRL 30 billion. The renewals approved by the Investment Partnership Program (PPI) are expected to increase the share of the rail sector from 15% to 31% of all transportation in the country. “On one hand, we have this schedule of contract extensions. On the other, many of these companies are publicly traded,” Paes explained on other possibilities of new investors.

 

By Thais Sousa via Brazil-Arab News Agency

 

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Brazil ran a USD 6 bn surplus in trade with Arab League

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São Paulo – Brazil ran a USD 6.1 billion surplus in trade with the Arab League in 2020. The surplus is the difference between exports and imports. The result accounts for 12.2% of the USD 50 billion all-time record surplus Brazil reached throughout the year. It’s also a 16.2% increase from the surplus reached in Brazil-Arab League trade in 2019, as per figures from the Arab Brazilian Chamber of Commerce(ABCC).

The entity reports that Brazil’s exports to the bloc of 22 countries in the Middle East and North Africa (MENA) generated USD 11.47 billion in revenue, down 6.3% from 2019. The decline, however, was lower than in other relevant trade partnerships, such as the United States (-23.7%) and Mercosur (-17.7%).

 

Via Brazil-Arab News Agency

 

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Brazil’s Cade okays AES’ acquisition of 158.5-MW wind portfolio

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January 26 (Renewables Now) – Brazil’s competition regulator CADE has okayed the acquisition of a 158.5-MW wind portfolio by local power producer AES Brasil (B3:TIET11), formerly AES Tiete Energia SA.

The deal, approved without restrictions, is valued at BRL 806 million (USD 147.4m/EUR 121.4m), including BRL 277 million of net debt, AES Brasil said previously.

 

By Lucas Morais via Renewables Now

 

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Brazil rate outlook rises after cenbank drops forward guidance – survey

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BRASILIA, Jan 25 (Reuters) – The outlook for Brazilian interest rates over the next two years rose to their highest in many months, a central bank survey of economists showed on Monday, following the bank’s decision last week to drop its ‘forward guidance’ pledge to keep them low for a long time.

The average forecast of the benchmark Selic rate at the end of this year rose to 3.50% from 3.25%, and the end-2022 forecast rose to 5.00% from 4.75%, according to the latest weekly ‘FOCUS’ survey of around 100 economists.

 

By Jamie McGeever via Yahoo Finance

 

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Engie contracts Siemens Gamesa to supply turbines for Brazil wind farm

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Renewables company Engie has signed a contract with Siemens Gamesa to supply supply turbines for a wind farm in Brazil.

Under the contract, the company will supply 70 of its SG 5.8-170 turbines with OptimaFlex technology. These will generate energy at the 434MW Santo Agostinho wind farm in north-east Rio Grande do Norte.

 

Via Power Technology

 

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Brazil Senate Willing to Discuss New Round of Covid Assistance

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Senators are likely to consider a new round of financial help for vulnerable Brazilians as soon as a new head of the upper house is elected in February, with one of the candidates for the job defending an urgent discussion about the theme and another saying she wouldn’t oppose the idea either.

Senator Rodrigo Pacheco, the front-runner in the race, on Wednesday said that if elected he would immediately start a discussion about what to do with this “part of the population living in extreme poverty, whose situation was aggravated by the pandemic.”

 

By Samy Adghirni and Simone Preissler Iglesias

 

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Brazil braced for IPO spree this year after bumper 2020

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Brazil’s stock market is gearing up for another rush of flotations in 2021, after an army of new investors helped spur the strongest year for initial public offerings in more than a decade.

An iron ore miner, a crematorium operator and an online furniture seller are among a list of 41 companies that have announced their intention to debut on São Paulo’s B3 exchange, which in spite of the Covid-19 pandemic chalked up 28 IPOs last year — the biggest number since 2007’s all-time record of 64.

 

By Michael Pooler via Financial Times

 

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BNDES okays funding for 40-MW biomass power plant in Brazil

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January 20 (Renewables Now) – Brazil’s National Development Bank (BNDES) has approved financing of BRL 941.6 million (USD 177m/EUR 146m) for the construction of a 40-MW biomass power plant and several upgrades planned by Grupo Sao Martinho SA (BVMF:SMTO3).

Named UTE Sao Martinho Bioenergia, the new biomass plant will use sugarcane bagasse as fuel. Located in the municipality of Pradopolis, Sao Paulo state, Sao Martinho should be able to generate some 210,000 MWh per year.

 

By Lucas Morais via Renewables Now

 

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OVERVIEW – Brazil’s ageing hydro infrastructure is solar’s economic opportunity

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January 20 (Renewables Now) – Brazil, the world’s second-largest producer of hydroelectric power, has an energy problem. While hydropower accounted for 70% of the country’s electricity generation in 2018, its primary source of renewable power is becoming less effective than it once was. Brazil needs to urgently diversify its energy mix to counter the power outages that are becoming a feature of daily life.

 

By Jamie MacDonald-Murray via Renewables Now

 

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Brazil’s Solarian Energy connects 5-MW solar plant in Sao Paulo

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January 19 (Renewables Now) – Brazilian solar energy firm Solarian Energy announced recently it has commenced the commercial operation of a 4.9-MW solar plant in Sao Paulo state.

The UFV Salto de Pirapora II, as the photovoltaic (PV) plant is named, is the company’s first to use solar trackers. It required an investment of BRL 17 million (USD 3.2m/EUR 2.6m) made in partnership with an unnamed foreign fund.

 

By Lucas Morais via Renewables Now

 

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Nordex gets Brazil nod for 5MW model

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Nordex has obtained the accreditation in Brazil for the N163/5.X wind turbine model from National Bank for Economic and Social Development (BNDES).

Wind farm developers in Brazil will be able to purchase N163/5.X wind turbines using the credit line known as FINAME, as well as other similar financing lines that use the BNDES accreditation system to define local content.

 

Via Renews.Biz

 

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China/Brazil sea freight prices soar, almost five times higher than six months ago

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Sea freight on the China-Brazil route has soared and reached an unprecedented US$ 10,000 per TEU, according to importers and shipping companies operating in the port of Santos.

”It is a record high; I had never seen freight reach that amount,” said Luigi Ferrini, Senior Vice President of Hapag-Lloyd in Brazil. A year ago, the cost of this same route was in the range of US$ 2,000 per TEU.

 

Via Hellenic Shipping News

 

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Brazil: Brazil’s CNPE Establishes Guidelines For New Biodiesel Marketing Model

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On December 30, 2020, the National Energy Policy Council (“CNPE”)  published Resolution No. 14/2020 (“Resolution No. 14”), which establishes guidelines for the marketing of biodiesel in the national territory and provides for other measures.

Resolution No. 14 establishes that all biofuel necessary to comply with the mandatory percentage set forth by Law No. 13,033/2014 must be contracted by means of a marketing model, replacing the public auctions. The National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) shall be responsible for regulating the biodiesel marketing model, which became effective January 1, 2020.

 

By Bruno Triani Belchoir , Bárbara Eiroa Leite and Leandro Duarte via Mondaq

Brazil’s industry up 1.2% in November: IBGE

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São Paulo – Brazil’s industrial output climbed for the seventh month in a row, up 1.2% in November from October 2020. But year to date through November, it was down by 5.5%. In the twelve months through November, it declined by 5.2%. Despite the recent positive outcomes, industrial output is down 13.9% from the peak in May 2011.

Figures from the Monthly Industrial Survey made public on Friday (8) in Rio de Janeiro by statistic agency IBGE shows that the industry was up 2.8% from November 2019.

 

Via Brazil-Arab News Agency

 

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Enel allowed to switch on 260 MW of wind parks in Brazil

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January 5 (Renewables Now) – Brazilian power sector watchdog Aneel has given the green light to the start of commercial operations of 260 MW of wind parks owned by local units of Italian firm Enel Green Power SpA.

Aneel’s approval allows the company to generate power from the EOL Ventos de Santa Angela 6, 7, 8, 9, 10, 11 and 14 parks. These plants are situated in the cities of Queimada Nova and Lagoa do Barro, Piaui state.

 

By Lucas Morais via Renewables Now

 

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Brazil may add 9 GW of distributed solar over next two years

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“With the financial problems of our competitors, Aldo became the largest PV product distributor in Brazil this year”, said the president of Brazil’s largest PV product distributor and system integrator, Aldo Pereira Teixeira, in an interview with pv magazine. “Currently, our market share is around 35 to 36 percent.”

Aldo currently focuses on the sale of residential, commercial, and industrial photovoltaic systems and only 3 percent of the company’s revenue is concentrated on projects with a power greater than 1 MW, in which remote self-consumption is a priority. The situation of distributed generation in Brazil is still very promising, Pereira Teixeira added. “Brazil has 89 million consumer units and only 330,000 photovoltaic systems connected to the grid; we have a huge space to keep growing.”

 

By Emiliano Bellini via pv magazine

 

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China’s CEEC to build 869 MW of wind, solar parks in Brazil

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December 22 (Renewables Now) – China Energy Engineering Corp (HKG:3996), also know as CEEC, announced on Monday that one of its units has secured two contracts to build 869 MW of renewable power plants in Brazil.

The deal concerns a 231-MW wind farm and a 638-MW solar photovoltaic (PV) park, both to be built in Rio Grande do Norte state. The two engineering, procurement and construction (EPC) contracts were secured by China Gezhouba Group International Engineering Co Ltd.

 

By Lucas Morais via Renewables Now

 

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Brazil’s luxury real estate sees boom during pandemic

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Globally, affluent professionals are adopting a work-from-home lifestyle and affecting a mini-coronavirus exodus from dense urban centers. Brazil has the second-highest number of COVID-19 fatalities after the U.S., while the luxury real estate market is experiencing an unexpected boom.

In Rio de Janeiro’s exclusive neighborhood of Joa, real estate buyers are clamoring for the spectacular views overlooking the Atlantic Ocean.

 

By Lucreia Franco via CGTN

 

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Outlook for Good Growth Maintenance of AUM of Brazilian Asset Managers in 2021

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Fitch Ratings-Sao Paulo-17 December 2020: Fitch Ratings’ sector outlook for asset managers in Brazil is stable, as is the Rating Outlook. The agency highlights the return to growth amid shifting investor needs and uncertainties after the crisis caused by the coronavirus pandemic. The inflows have been propelled by the decline in benchmark interest rates to a historical low of 2.0%, driving strong demand for more sophisticated investment strategies, such as equity and multimarket. Fitch expects these dynamics to remain in place during 2021, despite ongoing concerns related to the government’s fiscal condition and the global pandemic.

 

By Pedro Gomes via Fitch Ratings

 

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BNDES okays loan for 90-MW Powertis solar complex in Brazil

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December 16 (Renewables Now) – Brazil’s National Development Bank (BNDES) has approved a BRL-191-million (USD 37.5m/EUR 30.8m) loan to support the construction of the 90-MW Pedranopolis photovoltaic (PV) complex owned by Spain’s Powertis SA.

Located in Sao Paulo state, the PV complex consists of three solar parks scheduled to commence operations in December 2021. Once operational, Pedranopolis will be able to generate enough power to meet the demand of 125,000 homes.

 

By Lucas Morais via Renewables Now

 

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Pix goes live: updated numbers on the new instant payment method in Brazil

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After much anticipation, Pix – Brazil’s instant payments platform developed by the Central Bank of Brazil – has gone live for the entire Brazilian population. The new payment method allows immediate money transfer, 24 hours a day, 7 days a week, including weekends and holidays.

By the 3rd  of December, the Central Bank of Brazil had registered over 100 million Pix keys. Now, 60% of Brazilians already prefer Pix over TED (Express Wire Transfer) and DOCs (Credit Transfer Document), according to a research carried out by C6 Bank and IBOPEdtm. Further, 91% already know about Pix and find the new payment method safe.

 

By Ralf Germer via Paypers

 

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Enel commences construction of 1.3-GW renewables portfolio in Brazil

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December 15 (Renewables Now) – The Brazilian green power unit of Italian energy major Enel SpA (BIT:ENEL) said on Monday it has initiated construction works on 1.3 GW of renewable energy plants in the Northeastern region of Brazil.

Enel Green Power Brasil Participacoes Ltda (EGPB) is building four wind farms and one solar plant at a total cost of about BRL 5.6 billion (USD 1bn/EUR 901m).

 

By Lucas Morais via Renewables Now

 

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Mass adoption of AI can aid Brazil’s economic recovery, study says

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The Brazilian economy could benefit from a boost of up to 4.2% within the next decade if companies and governments promote large-scale adoption of artificial intelligence, according to a new study by consulting firm FrontierView commissioned by Microsoft.

The potential of GDP increase of more than four percentage points is the most optimistic scenario set out in the reseach, whereby AI use goes beyond automation and is used to create highly skills jobs, drive productivity and economic growth.

 

By Angelica Mari via ZD Net

 

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Brazil Is a Lone Bright Spot for Oil Demand Outside of Asia

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Brazil is providing one of the few bright spots for oil demand outside of Asia with the coronavirus continuing to ravage the U.S. and Europe.

Fuel consumption in Latin America’s largest economy has already surpassed pre-virus levels and is expected to be stronger than 2019 going into next year on the back of robust agricultural demand and more driving.

 

By Lucia Kassai via Bloomberg

 

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Footwear exports from Brazil up 13.8% in November

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São Paulo – Footwear exports from Brazil were up 13.8% year-on-year in November to 9.55 million pairs, the Brazilian Footwear Industry Association (Abicalçados) reported this Tuesday (8). Revenue was down 23.8% to USD 53.4 million.

Flip flop exports soared by 52% year-on-year. ANBA had anticipated this trend in an article last September.

 

Via Brazil-Arab News Agency

 

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Why This Startup In Brazil Is Super-Optimistic About The Future Of Coworking Spaces

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If you thought that coworking was a non-starter during a pandemic, think again. Eureka Coworking is a Brazilian-based startup bringing people back to their offices with a commitment to safety, flexibility, and sustainability. Headquartered in São Paulo, Brazil, Eureka Coworking has offices in that city and its environs, as well branches in Portugal. Location has become even more important with the pandemic.

“This is the perfect moment for us because most people lack sufficient space to work at home in a professional manner, and our locations nearby bike lanes and within walking distance of neighborhoods help people who want to ride bicycles or walk to work,” said Daniel Moral, co-founder and CEO of Eureka Coworking. “We talked with our clients and decided to open together using safety measures.”

 

By Susan Galer via Forbes

 

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How emergency aid fueled economic recovery in Brazil

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São Paulo – Brazil’s Gross Domestic Product (GDP) numbers show that the economy is reacting to incentives such as the emergency aid program, said Ecio de Farias Costa, a professor at the Federal University of Pernambuco (UFPE), in an interview over the phone with ANBA. Brazil’s Q3 GDP was up 7.7% from Q2 to BRL 1.891 trillion (USD 364,5 bn), the Brazilian Institute of Geography and Statistics (IBGE) reported this Thursday (3).

Emergency aid was made available in April by the federal government to citizens deemed most vulnerable to the economic crisis triggered by the novel coronavirus – those unemployed or whose monthly per capita household income fell short of half a minimum wage. Aid was supplied in instalments of BRL 600 (USD 115), or BRL 1,200 (USD 230) for women-led households. By September, the aid was extended through December 31, in just four instalments of BRL 300 (USD 57), and double that amount for single-mother families. For these latter instalments, however, the criterion changed, and not everyone was able to get the cash.

 

By Thais Sousa via Brazil-Arab News Agency

 

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Brazil energy sector to thrive next decade

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The 2020s will be a key decade for Brazil, not only for oil and gas projects, but for the energy sector in general, as pre-salt production continues to soar to new highs and operators begin a gradual shift to cleaner energy sources.

“Next year will be huge, not only for Brazil’s deep-water and offshore plays, but as Brazil also moves to unlock the onshore,” Genesis Energies South America general manager Rodolpho Athayde told Upstream’s recent Brazil Oil & Gas digital event.

By Fabio Palmigiani via Upstream

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Brazil’s services sector expands in November, but growth slows, IHS Markit says

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BRASILIA, Dec 3 (Reuters) – Brazil’s services sector expanded in November for a third straight month but at a slower pace than the month before, a purchasing managers’ survey showed on Thursday, as worries over a second wave of the coronavirus cooled the recent recovery.

Services have lagged manufacturing and industry in the rebound from the COVID-19 crisis but had recently shown signs – particularly in job growth – that the bounceback was finally underway.

 

By Jamie McGeever via Reuters

 

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Vestas wins 534 MW order in Brazil to extend Casa dos Ventos’ wind farm

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Vestas wins 534 MW order in Brazil to extend Casa dos Ventos’ wind farm and make it the largest wind power project in Latin America.

Casa dos Ventos, one of the pioneers and largest investors in the development of wind energy projects in Brazil, has placed a 534 MW order for the second stage of the of the Rio do Vento complex, located in the state of Rio Grande do Norte in Brazil. The extension will add to the 504 MW first phase of the project that is currently under construction, and the combined complex of more than 1 GW will be the largest wind farm in Latin America to date.

 

Via Reve

 

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Brazil: General View Of The Project “Transfer Pricing In Brazil”

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In February 2018, the OECD and Brazil started a joint project to analyze the similarities and differences between Brazilian legislation and the transfer pricing (“TP”) frameworks to assess cross-border transactions between associated enterprises from a tax standpoint. This project is within the scope of Brazil’s initiative to engage with the OECD in tax-related projects, and, in a broader respects, consistent with Brazil’s interest in initiating the process to join the OECD.

Stages of the Project

The project had three stages:

  • Stage 1: preliminary analysis of the legal and administrative framework of Brazil’s transfer pricing rules;
  • Stage 2: assessment of the strengths and weaknesses of Brazil’s existing transfer pricing rules and administrative practices; and
  • Stage 3: options for alignment with the OECD transfer pricing standard.

 

By Ivan Tauil and Thais Rodrigues via Mondaq

 

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Brazil’s new basic sanitation legal framework A pathway for the transformation of the sanitation sector in Brazil and for private investors to be part of the change

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In brief

In July 2020, Brazil’s New Sanitation Legal Framework was approved. It aims at the universalization of sanitation and water supply in Brazil by 2033 by attracting investment of USD128 billion. The new regulatory framework is expected to transform the nation’s water and sanitation sector, creating a business environment with more competition and legal certainty, and fostering domestic and foreign private investment in the sector.

Introduction

On July 15, 2020, Brazilian President, Jair Bolsonaro, sanctioned Federal Law No. 14.026/2020, also called as Brazil’s New Sanitation Legal Framework. This new regulation had been awaited with great anticipation and promises to change the way water and sanitation services are provided in the country by bringing more stability and legal certainty and enabling domestic and foreign private investment in the sector.

 

By DLA Piper via Lexology

 

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Brazil eyes $100 billion annual exports to China within a decade – Guedes

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Economy Minister Paulo Guedes lauded the economic boost from Brazil’s policy mix of low interest rates and a weak exchange rate, forecasting that exports to China will reach $100 billion a year within a decade.

In two online live events, Guedes also reiterated his view that the economy is undergoing a “V-shaped” recovery and creating jobs, and said the government’s economic reform program will accelerate once this month’s local elections are done.

 

By Jamie McGeever and Marcela Ayres via Hellenic Shipping News

 

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Brazil on track to end recession early 2021, as private activity speeds up

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Brazil’s economy probably rebounded at a record quarterly pace in July-September and was on track for a better start to 2021 than previously thought, as businesses and households recovered from the first surge in COVID-19 cases.

But on a year-ago basis, gross domestic product (GDP) in Latin America’s No. 1 economy is still expected to shrink, as well as in the current quarter and modestly in the first three months of 2021, marking five straight quarters of contraction.

 

Via Merco Press

 

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Canadian Solar signs PPAs for 862 MWp of solar in Brazil

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November 24 (Renewables Now) – Canadian Solar Inc (NASDAQ:CSIQ) has recently signed power purchase agreements (PPAs) covering 862 MWp of new solar capacity in Brazil.

The first contract was sealed with Brazilian investment bank and energy trader Banco BTG Pactual SA (B3:BPAC11). Under its terms, Canadian Solar will supply electricity from a 170-MWp cluster of projects located in Minas Gerais state for a 12-year period.

 

By Lucas Morais via Renewables Now

 

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Brazil planning an 80% resumption of daily flights during December

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Brazil’s average daily flights fell from the original 2,500 to about 200 during the Covid-19 pandemic lockdown period. In the months with the highest surge of the pandemic, Brazilian airlines reduced their operations by 99%.

But now, Brazil’s civil aviation sector appears to have bounced back from the strong impact of the COVID-19 pandemic, and in December expects to be operating at 80% of the capacity it registered in the same month last year, Ronei Glanzmann, head of the National Civil Aviation Secretariat, said at a forum sponsored by the Ministry of Infrastructure.

 

Via Merco Press

 

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BRICS backing Brazil’s UN Security Council bid

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Brasília – The BRICS – Brazil, Russia, India, China and South Africa – have expressed their support of Brazil’s bid for a seat as a rotating member of the United Nations Security Council in 2022 and 2023. The move was made public in the minutes of the 12th BRICS Summit Meeting (pictured above), held online on Tuesday (18).

The meeting minutes also espouse international cooperation to address the Covid-19 pandemic and equitable distribution of a safe, effective vaccine. The BRICS also call for a reform of the World Trade Organization (WTO) to enable the defense of developing countries, prevent protectionism by wealthy nations, and to work for a “more resilient” global supply chain.

 

Via Brazil-Arab News Agency

 

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Brazil in 2021: The focus is on fiscal policy

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Brazil’s economic policy response to the pandemic was unusually aggressive by emerging market standards. The monetary easing was perhaps the most forceful in EM when you consider the current level of the policy rate of 2%, relative to the ten-year historical average of 10%. The persistent FX sell-off has been the primary side-effect of that easing, which is, arguably a minor concern in the current low-inflation environment.

Much more consequential has been the fiscal stimulus enacted, especially the household income transfers to help offset wage income lost to Covid-19 movement restrictions.

 

By Gustavo Rangel via Think.ING

 

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Brazil Is Emerging As The World’s Leading Offshore Oil Producer

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Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the third-largest supplier of crude oil to China, the world’s second-largest economy. The scale of Brazil’s deep-water offshore oil boom is underscored by the pre-salt Tupi oilfield which for the third quarter of 2020 reached the impressive milestone of having pumped two billion barrels of accumulated oil production in the decade since commercial oil production began. A key reason for this is the rapidly growing popularity of the sweet medium crude oil grades produced from Brazil’s pre-salt oil fields, notably Tupi the world’s largest deep-water oilfield, and the Buzios field.

 

By Matthew Smith via Oilprice.com

 

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Of the Ten Best Universities in Latin America, Three Are Brazilian

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Among the ten best universities in Latin America, three are Brazilian public education institutions. The ranking released by the British consultancy QS (Quacquarelli Symonds) evaluated USP, Unicamp and UFRJ as the most prestigious in the country.

The survey, published annually, evaluated 410 educational institutions from 20 countries in the region. The ranking is led, as in the previous year, by the Pontifical Catholic University of Chile.

 

By Isabela Palhares via Folha de S. Paulo

 

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Saudi Arabia’s poultry imports from Brazil up 22%

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São Paulo – Saudi Arabia’s poultry imports from Brazil were a highlight in October at 44,900 tons, up 22% year-on-year. The information was made public by the Brazilian Animal Protein Association (ABPA) this Wednesday (11).

Last month saw 319,700 tons of poultry shipped abroad from Brazil, down 9.4% year-on-year. Exports fetched USD 446.8 million, down 21.2%.

 

By Thais Souza via Brazil-Arab News Agency

 

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Footwear exports from Brazil up in October

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São Paulo – Brazilian footwear exports saw a slight month-on month growth in October, following a trend of gradual rebound from the economic impact of the pandemic. According to the Brazilian Footwear Industry Association (Abicalçados), October saw 10.43 million pairs of shoes shipped from Brazil, up. 28.6% month on month; revenue came out to USD 55.4 million, up 4.8%.

Year on year, though, volume was down 6.1%, and revenue 36.8%. Year to date through October, exports reached 74.9 million pairs of shoes, down 22.3%, for USD 545.35 million, down 33.6% from a year ago.

 

Via Brazil-Arab News Agency

 

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U.S. Seizes $24 Million In Cryptocurrency On Behalf Of Brazilian Government

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The U.S. Department of Justice (DoJ) has announced yesterday (4) the seizure of virtual currency worth around $24 million on behalf of the Brazilian government as part of an investigation into a large-scale fraud scheme.

According to the Brazilian authorities, more than US$ 200 million was obtained through the cryptocurrency fraud scheme, which is believed to have impacted “tens of thousands” of investors.

 

By Angelica Mari via Forbes

 

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Brazil to lead MERCOSUR talks; Deeper cooperation in defence, space, Ayurveda and agriculture, says India’s envoy to Brazil

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To further strengthen their ties, India and Brazil elevated their bilateral relations to a strategic partnership in 2006 and since then the relationship has witnessed an upward trend. President Jair Bolsonaro was the chief guest at the Republic Day this year. The largest economy in Latin America, Brazil offers a huge market for a wide range of Indian manufactured goods. Also, it is a country with a lot of natural resources and can help India in various sectors especially in agri-tech, bio-energy, pharmaceuticals, oil and defence and space.

Suresh K Reddy who has in September this year assumed charge as Ambassador of India to Brazil talks with Huma Siddiqui on a wide range of topics. Following are excerpts:

 

By Huma Siddiqui via Financial Express

 

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Brazil have digital version of Real, confirms minister Paulo Guedes

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During a ceremony held on Wednesday (4), the Minister of the Economy, Paulo Guedes, confirmed that Brazil will also have a digital currency. The project is already under study by the Central Bank (CB) and will be a direct consequence of the adoption of the PIX.

Guedes didn’t even mention the details of the project, but the idea of ​​a digital currency has already been explored by several countries around the world. The most advanced example is Chinese, since the country’s government has already launched the digital yuan.

 

Via Re: Jerusalem

 

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Brazil Industry Posts Longest Streak of Monthly Gains Since 2012

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(Bloomberg) — Brazil’s industrial production rose for the fifth straight month in September, representing the longest streak of gains since 2012, as billions of dollars in fiscal stimulus spurs broad-based consumer demand.

Output rose 2.6% from August, above the median estimate for a 2.4% gain from economists in a Bloomberg survey. Industrial production increased 3.4% from a year ago, returning

 

By Mario Sergio Lima via Bloomberg Quint

 

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Brazil’s Black Silicon Valley could be an epicenter of innovation in Latin America

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Over the last five years, Brazil has witnessed a startup boom.

The main startups hubs in the country have traditionally been São Paulo and Belo Horizonte, but now a new wave of cities are building their own thriving local startup ecosystems, including Recife with Porto Digital hub and Florianópolis with Acate. More recently, a “Black Silicon Valley” is beginning to take shape in Salvador da Bahia.

 

By Paulo Rogério Nunes and Tara Collier via Tech Crunch

 

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Brazil has a super port in the southern state of Rio Grande do Sul

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After two years of dredging works using a federal investment of R$ 500 million, (some 80 million dollars) the Port of Rio Grande – the main port in the southernmost Brazilian state of Rio Grande do Sul – will be able to receive vessels of up to 366 meters in length. This is because the port’s new draft, (15 meters) was officially approved on October 26th.

Thanks to the removal of more than 16 million cubic meters of sediment, the operational draft of the so-called internal channel, where the most important port terminals and the largest flow of cargo are located, went from 12.8 to 15 meters. The depth, which was 14.2, is now 16.5 meters. The handling capacity now meets international navigation standards, and the port is able to receive vessels of up to 366 meters in length- a difference of 29 meters in relation to the previous capacity of 337 meters in length.

 

Via Merco Press

 

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Distributed Generation Provides Hope of Energy for the Poor in Brazil

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RÍO DE JANEIRO, Oct 28 2020 (IPS) – “Showing solidarity is consuming the energy generated in your own municipality” – this is the motto of a project of distributed electricity generation in one of Brazil’s many poor neighbourhoods.

“Sertão (the word for the country’s semiarid hinterland) with solidarity” is how the director of the Brazilian Association of Distributed Generation (ABGD) in the southeastern state of Minas Gerais, Walter Abreu, named the project. The organisation promotes solar energy in the north of that state, where 1.5 million of the state’s 2.7 million people live in poverty and half of these in extreme poverty.

 

By Mario Osava via Inter Press Service

 

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BNDES okays funding for 505 MW of solar in Brazil

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October 26 (Renewables Now) – Brazil’s National Development Bank (BNDES) said on Friday it will support the construction of 505 MW of solar projects through loans of over BRL 1.1 billion (USD 195.7m/EUR 165m).

Some BRL 910 million of the total will be used for the 415-MW Sol do Sertao Solar Complex in Oliveira de Brejinhos, Bahia state. Brazil’s Essentia Energia is the project developer.

 

By Lucas Morais via Renewables Now

 

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Guedes Signs An Agreement to Finance US Exports to Brazil that May Reach US $ 1 billion

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During the last visit of a delegation from the Donald Trump administration to Brasília, Minister Paulo Guedes (Economy) and the president of Exim Bank (Bank of Exports and Imports of the USA), Kimberly Reed, signed a memorandum to identify financing possibilities for exports from that country to Brazil that may add up to US $ 1 billion.

The document signed at the Itamaraty ceremony establishes commitments between Brazil and the USA to advance cooperation on trading goods and services, especially in telecommunications and 5G, energy, infrastructure, logistics, mining, and manufacturing.

 

By Ricardo Della Coletta, Thiago Resende and Gustavo Uribe via Folha de S. Paulo

 

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BlackRock plans huge expansion in Brazilian ETF market

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BlackRock is planning to cross-list “up to 100” of its overseas exchange traded funds in Brazil to take advantage of a boom in investment sparked by plunging interest rates and market liberalisation.

The world’s largest asset manager said it hoped the ETFs would be available by the end of March next year, which would mark a huge expansion on its existing range of five São Paulo-listed ETFs.

 

By Steve Johnson via Financial Times

 

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Enel allowed to fire up 96 MW of solar plants in Brazil

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October 15 (Renewables Now) – Brazilian power sector watchdog Aneel has given the green light to the start of commercial operations of 95.68 MW of solar plants owned by local units of Italian firm Enel Green Power SpA.

Aneel’s approval allows the company to generate 50 MW from the UFV Sao Goncalo 5 park and 45.68 MW from UFV Sao Goncalo 6.

By Lucas Morais via Renewables Now

 

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Tender launched for utility-scale floating PV in Brazil

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Empresa Metropolitana de Águas e Energia (EMAE), the energy supplier for the Brazilian state of São Paulo, has launched a tender for the deployment of four utility-scale floating PV projects.

The arrays will be built at the largest water reservoir in the state, which hosts an 880 MW hydroelectric power plant. The power station supplies electricity to about 1.8 million people, and is also used for fishing and swimming.

 

By Emiliano Bellini via PV Magazine

 

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Large wind project to double renewable energy capacity in Brazil

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(Florianopolis/Oslo, 07.10.2020) Statkraft is ready to start construction of its Ventos de Santa Eugenia wind project in northeastern Brazil, after closing a turbine supply contract with German wind turbine manufacturer Nordex. Statkraft’s largest wind project in South America will more than double its renewable energy capacity in Brazil.

The 519 MW wind project entails 10 wind farms with a total of 91 turbines in the state of Bahia, located close to Statkraft’s existing Bahia wind power assets. Given the excellent wind conditions in the area, the project will generate almost 2.3 TWh of renewable energy per year, enough to supply 1.17 million Brazilian homes.

 

Via GlobeNewsWire

 

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Foreign-backed consortium in talks for Petrobras gas fields in Brazil, sources say

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RIO DE JANEIRO/SAO PAULO (Reuters) – A consortium of Brazil’s 3R Petroleum and Norway-linked DBO Energy is in bilateral talks with Brazil’s Petrobras to purchase a cluster of offshore natural gas fields, according to two sources with direct knowledge of the matter.

The Peroa cluster, located off the coast of Espirito Santo state, would be among the first all-gas offshore fields sold by Petrobras amid a larger push to break the company’s near-monopoly in Brazil’s natural gas value chain.

 

By Gram Slattery and Carolina Mandl via Reuters

 

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Brazil GDP decline set for less than feared at 5.8%: IMF

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WASHINGTON: Brazil’s economy is set to shrink by 5.8 per cent in 2020, the International Monetary Fund said on Monday (Oct 5), revising up an earlier forecast but warning the country faced “excpetionally high” risks.

“The economy is projected to shrink by 5.8 per cent in 2020, followed by a partial recovery to 2.8 per cent in 2021,” the IMF said in its annual report on Latin America’s largest economy.

 

Via CNA

 

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Brazil runs record trade surplus

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Brasília – Imports slowed down faster than exports in September in Brazil, yielding a record-high trade surplus. Exports exceeded imports by USD 6.164 billion, the strongest result for the month since record-keeping began in 1989.

Both exports and imports decreased during the month. Average daily exports from Brazil were down 9.1% year-over-year to USD 18.459 billion. Average daily imports slid by 25.5% to USD 12,296 billion.

 

Via Brazil-Arab News Agency

 

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Solar under net metering reaches 3.6 GW in Brazil

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The Brazilian solar association ABSolar has carried out a study on grid-connected photovoltaic distributed generation, which in Brazil includes all PV systems not exceeding 5 MW in size installed under the net metering regime. In total, there is more than 3.6 GW of installed power of distributed generation from photovoltaic solar sources throughout the country, representing more than 18.2 billion reais (€2.81 billion) in accumulated investments since 2012 and more than 108,000 jobs.

According to the association, in the number of systems installed, residential consumers are in the lead, representing 72.5% of the total. That figure is followed by companies in the commerce and services sectors (17.7%), rural consumers (6.8%), industries (2.6%), the public sector (0.4%), public services (0.03%) and public lighting (0.01%).

 

By Pilar Sánchez Molina via PV Magazine

 

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Statkraft to build 519-MW wind complex in Brazil

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September 29 (Renewables Now) – Norwegian state-owned energy company Statkraft AS will invest roughly BRL 2.5 billion (USD 444.6m/EUR 381m) in the development of a 519-MW wind complex in Brazil.

Named Ventos de Santa Eugenia, the asset is expected to break ground in January 2021 and have its first turbines generating power in 2022. Full completion is set for 2023, boosting Statkraft’s capacity in the country to 967 MW.

 

By Lucas Morais via Renewables Now

 

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Pandemic accelerates wearables market in Brazil

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The wearables market in Brazil has seen an acceleration during the second quarter of 2020, according to new numbers from market analyst firm IDC.

Sales of devices grew by 21.1% between April and June in Brazil compared to the second quarter of 2019. During the period, 208,350 fitbands and smartwatches were sold, according to the report.

 

By Angelica Mari via ZD Net

 

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Brazil To See Extra LNG Imports, Growing Natural Gas Demand Over Next Decade

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Brazil is set to be the center of new liquefied natural gas (LNG) demand activity in Latin America at least over the next decade, according to experts who spoke at a webinar Tuesday organized by the Institute of the Americas.

“Gas remains the transition fuel in Brazil because it allows for the highest possible penetration of wind and solar,” said Roberto Ferreira da Cunha, the director of consultancy BRG Energy & Climate for South America. He added that Brazil has 10 new LNG import plants in different phases of study.

 

By Christopher Lenton via Natural Gas Intelligence

 

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Brazil contracts 8.5m litres in 75th biodiesel auction

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September 21 (Renewables Now) – Brazil’s Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Friday that the country’s 75th complementary biodiesel auction contracted 8.5 million litres (2.3m gallons) in total.

The average price of BRL 5.723 per litre achieved in the tender resulted in a final contract value of around BRL 48.65 million (USD 9m/EUR 7.6m). In all, six producers offered some 9.5 million litres in the tender.

 

By Lucas Morais via Renewables Now

 

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Viasat delivers satellite internet to 93% of Brazilians

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Viasat’s high-quality residential internet service has expanded to an additional 14 states in Brazil, delivering services to more than 93% of the country’s population.

Launched across seven states and the Federal district in July, Viasat expects that upon completion of the residential launch rollout by year-end, it will be the only satellite ISP capable of making high-speed internet available across the entire country.

 

By Melanie Mingas via Capacity Media

 

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Brazil confident it can meet China’s growing appetite for iron ore

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Brazilian officials say there is no room for fear when it comes to the country’s capacity to keep up with Chinese demand for iron ore. Iron ore prices hit six-and-a-half year highs last week as the Chinese construction and manufacturing sector experiences levels of activity last seen almost a decade ago.

In the past three months China’s iron ore imports have climbed 20% year on year, while year-to-date they are up 11% compared to 2019.

 

Via Merco Press

 

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Short-term capacity contracts to boost competition on Bolivia-Brazil Gasbol pipeline

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New York — Brazil’s largest natural gas import pipeline will soon offer short-term transportation contracts for firm and interruptible capacity as regulators look to expand third-party competition and market access.

Following a Sept. 9 regulatory approval for the move, short-term capacity on the 1.1 Bcf/d Bolivia-Brazil Gasbol pipeline could be made available as early as October, the National Petroleum Agency said in a press release.

 

By J. Robinson via S&P Global Platts

 

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Brazil Says Central Bank Digital Currency Set For 2022 Rollout

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The race toward central bank digital currencies (CBDCs) is tightening, with Brazil reportedly looking to launch one by 2022 in a bid to help digitize payments. And although it’s not a winner-take-all competition, central banks first out of the gate might prove instructive to those who follow — particularly when it comes to new use cases or the goal of democratizing banking and digital payments.

Roberto Campos Neto, president of Brazil’s central bank, said his country’s new digital currency will work in concert with its new instant-payments system.

 

Via Pymnts

 

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Brazil could have CBDC in two years, says central bank president

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The president of Banco Central — Brazil’s central bank — has announced Brazilians could expect to see a central bank digital currency before 2023.

According to a Sept. 2 report from news outlet Correio Braziliense, Brazil could be ready for a central bank digital currency (CBDC) in 2022. Roberto Campos Neto, the president of Banco Central, stated that the country’s central bank had already undertaken measures to modernize the Brazilian financial system which has made a CBDC the natural outcome.

 

By Turner Wright via Cointelegraph

 

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Brazil switches on 5.6-MWp DG solar system in Goias

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September 1 (Renewables Now) – The Brazilian government inaugurated over the weekend a 5.6-MWp solar power system consisting of 26 distributed generation (DG) arrays spread across Goias state.

Located in the municipality of Caldas Novas, the system should be capable of meeting the power demand of 4,265 families. It is owned by domestic hotelier group Grupo diRoma, the Ministry of Mines and Energy said on Sunday.

 

By Lucas Morais via Renewables Now

 

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Brazil ETFs Jump on Easing Liquidity Concerns, Fiscal Economic Support

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Brazil country-specific exchange traded funds climbed Friday after a major institution of the Brazilian financial system moved to ease liquidity concerns and President Jair Bolsonaro aims to spend big on “Pro-Brazil” infrastructure to stimulate a beleaguered economy.

On Friday, the iShares MSCI Brazil Capped ETF (NYSEArca: EWZ) increased 4.3% and the iShares MSCI Brazil Small-Cap ETF (NasdaqGM: EWZS) advanced 3.4%.

 

By Max Chen via ETF Trends

 

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Roundup: Brazil’s industrial confidence continues to rise in August

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RIO DE JANEIRO, Aug. 27 (Xinhua) — Confidence among Brazil’s industrialists increased for the fourth consecutive month in August, almost fully rebounding from the negative impact of the COVID-19 pandemic, a Brazilian economic think tank said on Thursday.

According to the Getulio Vargas Foundation (FGV), the Industrial Confidence Index rose by 8.9 points in August to 98.7, recovering 40.5 points or 93.8 percent of the 43.2 points it lost in March and April, when the pandemic started to take hold.

 

Via Xinhua.net

 

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Internet use increases among poor Brazilians

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There has been a significant increase in online access to financial offerings and government services in Brazil among low-income citizens, according to a study on the role of the Internet during the Covid-19 outbreak.

The study carried out by Cetic.br, research arm of the Brazilian Network Information Center (NIC.br) suggests that Internet access through all devices has gone up significantly and online traffic in Brazil has reached record levels in the last five months, peaking at 13,5 Tbps.

 

By Angelica Mari via ZD Net

 

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Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-End

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Brazilian crypto companies have signed a code of self-regulation that aims to legitimize and to boost adoption of crypto assets in the country. The document was signed under the auspices of Abcripto, the country’s association of cryptocurrency companies.

According to regional media reports, Brazilian firms that specialize in cryptocurrency custody services, brokerage services, and exchanges “will now have to incorporate measures to prevent crime and money laundering on their platforms.”

 

By Terence Zimwara via Bitcoin.com

 

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Stimulating Brazil’s Bioeconomy

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SÃO PAULO – In the midst of the growing climate crisis, the world can no longer rely solely on old models of economic development. In this context, the concept of a bioeconomy – activities that produce relatively little carbon, using high-value-added processes – is gaining increasing prominence. But governments and civil-society actors face differing institutional and economic obstacles on the path to a true bioeconomy.

Given historical and current global energy-consumption trends, some European and North American countries have taken seriously the goal of developing renewable energy sources. On the other hand, some countries in the Global South, where agriculture represents the main source of greenhouse-gas emissions and biodiversity loss, face the challenge of establishing a bioeconomy based on new agricultural models.

By Pedro Frizo via Project Syndicate

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Why Brazil Increased Its Airline Bailout

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Last week, the National Bank for Economic and Social Development (BNDES) announced an increase in the airline bailout, from 2.4 billion reais (US$440 million) to 3.6 billion reais (US$660 million). Why did the bank do that? Also, what are the airlines thinking about financial support? Let’s investigate further.

Since March, Brazilian airlines and the BNDES have been negotiating on a bailout to help them during the COVID-19 crisis. However, the talks between the parties have had delays over and over again.

 

By Daniel Martínez Garbuno via Simple Flying

 

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Brazil imported 2.5 GW of PV panels in first half of 2020

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The Brazilian solar market seems not to have been significantly slowed down by the Covid-19 crisis, according to a new report from Brazil-based consultancy Greener.

The company’s analysts reported that total module shipments in the market in the first half of the year totaled 2,599 MW, with panel imports reaching 2,490 MW and domestic products accounting for 109 MW, which represents around 4.4% of the total market share.

 

By Emiliano Bellini via PV Magazine

 

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Brazil, Latin America’s Covid Hotbed, Leads Its Economic Rebound

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Brazil, home to the most severe Covid-19 outbreak in Latin America, is emerging with the region’s shallowest recession this year, thanks to a faster economic reopening and temporary stimulus measures.

The nation that trails only the U.S. as a global virus hotspot has seen key indicators including industrial output and retail sales outstrip economist expectations just as stores and factories resume operations and the government spends billions of dollars worth of emergency aid.

 

By Andrew Rosati via Bloomberg

 

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Chile´s Senate approves trade pact with Brazil

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SANTIAGO (Reuters) – Chile´s Senate approved late on Tuesday a free trade agreement with Brazil, cementing the South American nation´s long-standing relationship with its top trade partner in Latin America.

The agreement, which builds on rules facilitating commerce already in effect between Chile and Mercosur bloc nations Brazil, Argentina, Paraguay and Uruguay, is likely to boost thriving trade between the two nations.

 

By Dave Sherwood via WKZO

 

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Bitcoin trading soars in Argentina, Brazil as local currencies weaken

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While DeFi may have some traders dreaming of complicated lending strategies and governance protocols, in certain parts of the world it’s still Bitcointhat promises a censorship-resistant way to protect against rapidly inflating local currencies.

According to a recent report from analytics firm Arcane Research, Bitcoin has just broken price records in Argentina, Brazil, and Turkey—with growth (in fiat terms) of 169%, 20%, and 5%, respectively, over the last two months.

 

By José Antonio Lanz via Decrypt

 

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Brazil Consumer Prices Rose More Quickly in July on Fuel, Electricity

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SÃO PAULO–Brazil’s inflation accelerated in July from the previous month as fuel and electricity prices increased

Consumer prices increased 0.36% from June, the Brazilian Institute of Geography and Statistics, or IBGE, said Friday. Prices rose 2.31% from a year earlier. In June, prices rose 0.26% and increased 2.13% from a year earlier.

 

By Jeffrey T. Lewis via Market Screener

 

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Brazil cuts its benchmark interest rate to an all-time low

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Brazil’s central bank cut its key interest rate by a quarter point to an all-time low and didn’t rule out additional reductions as policy makers seek to stimulate an economy ravaged by the coronavirus pandemic.

The central bank, led by its President Roberto Campos Neto, on Wednesday lowered the benchmark Selic to 2% following back-to-back reductions of 75 basis points, as forecast by 33 of 37 economists in a Bloomberg survey. The other four analysts expected borrowing costs to remain steady.

 

By Mario Sergio Lima via Al Jazeera

 

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Most optimistic Brazil GDP outlook in over a month: central bank survey

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BRASILIA (Reuters) – The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.

That compares with -6.5% a month ago, and while it would still comfortably represent the steepest annual downturn on record, it is the most optimistic outlook since May.

 

By Jamie McGeever via Reuters

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Brazil Central Bank Authorizes Tests of Facebook’s WhatsApp Pay, Mastercard and Visa Say

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SAO PAULO — Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country, Visa Inc and Mastercard Inc said on Friday, easing an outright ban on the service imposed last month.

The ubiquitious messaging service in Brazil was finally entering the arena of payments by launching the service on June 15, after years of questions on how Facebook would make money from WhatsApp.

 

By Aluisio Alves via The New York Times

 

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Five fishing ports in Brazil to be privatized

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Brasília – Brazil’s federal government has included five state-run fishing ports in its privatization effort, the Investment Privatizations Program (PPI). A decree published in the Official Gazette this Tuesday (28) provides that ports in Natal, Rio Grande do Norte; Aracaju, Sergipe (pictured); Vitória, Espírito Santo; and Santos and Cananeia, in the state of São Paulo.

 

Via Brazil-Arab News Agency

 

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As Pandemic Rages, Brazil Sees Busiest IPO Market Since 2007

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(Bloomberg) — One of the world’s worst hotspots for the coronavirus is also seeing the fastest pace of initial public offerings in more than a decade.

From builders to retailers, five Brazilian companies are due to hold IPOs over the next two weeks, the highest number for any fortnight since 2007, according to data compiled by Bloomberg. An education firm, which is going public in the U.S. but has yet to announce a pricing date, could boost the tally to six.

By Vinicius Andrade, Andre Romani Pinto and Felipe Marques via Bloomberg Quint

 

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Brazil 2020 GDP outlook improves again to -5.8% – cenbank survey

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BRASILIA, July 27 (Reuters) – The outlook for Brazil’s economy improved for the fourth week in a row, a central bank survey of economists showed on Monday, with signs of recovery from the worst of the crisis lifting some of the heavy gloom that had built up in recent months.

Brazil’s gross domestic product will shrink 5.8% this year, according to the central bank’s weekly ‘FOCUS’ survey of around 100 economists, compared with a GDP fall of 5.95% forecast last week and 6.5% a month ago.

 

By Jamie McGeever via Market Screener

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Brazil eliminates import duties for cells, modules, inverters and trackers

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Brazil’s Resolution No. 70, of July 16 – published on Monday in official journal Diário Oficial da União – will remove import duties for goods including several types of PV module, inverter and solar tracker.

The measure, taken by the Foreign Chamber of Commerce of the Ministry of Economy, listed 101 types of exempt solar module as well as some three-phase inverters and trackers.

 

By Pilar Sánchez Molina via pv magazine

 

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Brazil boosts oil exports to Asia as global rivals make record cuts

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RIO DE JANEIRO/MEXICO CITY (Reuters) – Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic.

The rise reflects Brazil’s growing clout among global oil producers as its massive offshore projects come online. Brazil is expected to deliver one of the biggest increases to global supply in the next five years from nations outside of the Organization of the Petroleum Exporting Countries, according to the International Energy Agency.

 

By Sabrina Valle and Marianna Parraga via Reuters

 

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EMERGING MARKETS-Brazil stocks at over 4-mth high; Chilean c.bank meeting awaited

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July 15 (Reuters) – Brazilian stocks hit a more than four-month high on Wednesday as signs of progress in developing a coronavirus vaccine invited more buying into risk-driven assets, even as COVID-19 cases piled.

The Bovespa stock index .BVSP rose about 1% to its highest level since early March, propped up by financial and energy stocks.

 

By Shreyashi Sanyal and Ambar Warrick via Nasdaq

 

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Brazil Central Bank Must Adapt Regulation to Big Tech Companies, Director Says

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SAO PAULO — Brazil’s banking regulation must adapt to big technology companies to ensure competition in the financial arena, central bank director Joao Manoel Pinho de Mello said on Monday in a webcast with newspaper Valor Economico.

In June, the central bank issued a rule saying it could require market participants to receive prior approval to operate in payments. Simultaneously, it suspended the newly launched WhatsApp payment service by Facebook Inc in Brazil.

 

Via The New York Times

 

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Brazil schedules A-1 energy auction

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July 13 (Renewables Now) – Brazil’s Ministry of Mines and Energy (MME) announced on Friday that it plans to hold a new energy auction on December 4, 2020, provided there is demand from domestic power distributors.

Through a decree published in the Official Gazette, the government confirmed that the auction is dubbed as A-1 Existing Energy Auction. It will contract power from all available power plants in the country. The energy will be negotiated in Brazil’s regulated market in the form of volume of electricity.

 

By Lucas Morais via Renewables Now

 

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Will Record Low Interest Rates Help Brazil’s Small Businesses?

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Not long ago, I got a call from a New York-based accountant asking if what he was seeing was true: a Brazilian savings account statement showing double-digit monthly returns. “Oh yes,” I told him. It was absolutely normal – and the best deal in town! Just leave your cash parked in a bank and watch it grow.

Fast forward just a couple of years and, well, things have changed. At 2.25%, the basic interest rate has been cut eight times in a row since last year. If you’re an old Brazilian like me, a rate that low sounds like science fiction.

 

By Cecilia Tornaghi via Americas Quarterly

 

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Brazil central bank chief sees start of ‘V-shaped’ recovery, limited room for rate cuts

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BRASILIA (Reuters) – Brazil’s economy looks to have begun a “V”-shaped recovery from the worst of the COVID-19 crisis, central bank president Roberto Campos Neto said on Thursday, citing the latest energy, traffic and tax collection data as well as double-digit credit growth.

Speaking in a live online event hosted by newspaper Correio Braziliense and Itau bank, however, Campos Neto also cautioned that economic rebounds in other countries that have started in similar fashion have recently shown signs of fading.

 

By Marcela Ayres and Jamie McGeever via Reuters

 

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Brazil’s oil output grows by 7.8 pct in 2019

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RIO DE JANEIRO, June 30 (Xinhua) — Brazil’s oil output grew by 7.8 percent in 2019 compared with the year before, averaging 2.8 million barrels a day, the state-run National Agency of Petroleum, Natural Gas and Biofuels (ANP) said Tuesday.

The increase was mainly driven by deep-sea oil drilling in the Atlantic Ocean pre-salt deposits, where Brazil has giant reserves which are just beginning to be exploited.

 

Via Xinhua News

 

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BRAZIL DATA: Ethanol output surges to record high in May

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Rio de Janeiro — Brazilian ethanol production hit the highest level ever recorded in May amid expectations for a record sugarcane harvest and biodiesel output rebounded from coronavirus-related lows, according to data released June 29 by the National Petroleum Agency, or ANP.

Sugar mills produced 8.46 billion liters of ethanol in May, more than double the 4.05 billion liters produced in May 2019, the ANP said. That was the highest output recorded by the ANP since its inception in 2000. May’s ethanol production also more than doubled the 3.87 billion liters produced in April, the ANP data showed. The jump was driven by the accelerating sugarcane crush, which got off to a bit of a late start because of poor weather and social-distancing measures implemented in mid-March.

 

By Jeff Fick via S&P Global Platts

 

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Brazil industrial confidence posts record rise in June

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BRASILIA, June 29 (Reuters) – Brazilian industrial confidence rebounded sharply in June, the biggest ever rise, on growing hopes for recovery in the second half of the year, but still consistent with levels associated with severe recession, a survey showed on Monday.

The Fundacao Getulio Vargas’s national industrial confidence index jumped to 77.6 in June from 61.4 in May, with the rise of 16.2 representing the largest month-on-month increase since the series began in 2009.

 

By Jamie McGeever via Nasdaq

 

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Brazil tops demand for free access to essential online services during pandemic

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Mobile operators in emerging markets such as Brazil and South Africa are experiencing increased traffic and demand for free data as the coronavirus pandemic drives users online. That’s according to recent online search data from Upstream’s Zero-D, an ad-funded free mobile internet platform designed to keep users connected to the digital world even when they have run out of data.

Demand for free access to essential online services is highest in Brazil, with searches for “internet gratis” (free internet) surpassed only by searches for “Facebook” in the data from March 2020 to May 2020. In addition, Free Fire, a free online video game which took Brazil by storm in 2019, continues to dominate the entertainment category. Searches for “Free Fire” surpassed “Netflix” by more than 664 percent in Brazil, presenting mobile operators in the region with a unique challenge.

 

Via Total Telecom

 

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Brazil passes bill easing privatization of water utilities

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Brazil’s Senate passed a bill Wednesday paving the way to privatize state-owned water and sanitation companies and attract more private investment to the badly languishing sector.

The bill, which President Jair Bolsonaro plans to sign, aims to bring better service to the 35 million Brazilians who lack clean drinking water and 100 million whose sewage gets dumped raw, without ever being treated, its sponsors said.

 

Via Macau Business.com

 

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Brazil ecommerce jumps 57% in first five months of 2020 fueled by COVID-19

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SAO PAULO, June 23 (Reuters) – Brazilian e-commerce has risen by 56.8% in the first five months of 2020 from a year earlier, reaching 105.6 billion reais ($20.50 billion) in sales revenue, a survey showed on Tuesday, as more consumers have shifted to online shopping during the coronavirus pandemic.

The number of online orders grew by 65,7% in the same comparison, mostly driven by three categories: cosmetics and perfumes, furniture and eletronics, according to data compiled by Brazilian ecommerce consultancy Compre&Confie and industry body ABComm.

By Gabriela Mello via Yahoo Finance

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UPDATE 1-Brazil’s central bank unveils wide range of credit-boosting measures

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BRASILIA, June 23 (Reuters) – Brazil’s central bank on Tuesday announced a series of measures to potentially pump hundreds of billions of reais into the economy, boosting credit in particular to micro, small and medium-sized companies struggling in the coronavirus crisis.

The measures include allowing banks already extending loans to small and medium-sized enterprises, known as SMEs, to reduce reserve requirements, lowering banks’ requirements for contingent liabilities provisions, and possibly allowing firms to use real estate as collateral for new loans.

 

By Jamie McGeever via Reuters

 

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UPDATE 1-Brazil central bank sees rates ‘close’ to lower limit, stresses inflation goal commitment

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BRASILIA, June 23 (Reuters) – Brazil’s central bank sees little scope to reduce interest rates much further, with the current record low of 2.25% considered “close” to the level from which additional cuts could fuel financial market instability, according to meeting minutes released on Tuesday.

The minutes of the June 16-17 meeting of the rate-setting committee, known as Copom, showed that while the economic shock from the COVID-19 pandemic is disinflationary and inflation expectations continue to fall, policymakers urged caution in easing much further.

 

By Jamie McGeever via Reuters

 

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Brazil’s Northeast surpasses 10 GW of peak wind on June 21

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June 23 (Renewables Now) – Wind farms in Brazil’s Northeast have generated 10,121 MW at 1021 local time on June 21, thereby breaking the Northeast’s record for wind generation, the National Electric System Operator (ONS) announced.

The volume produced by wind farms during that day was enough to meet 100% of the Northeast region needs, currently at 8,500 MW, and generate an 18% surplus. The previous record was of 9,755 MW, registered seven months earlier on November 12, 2019.

 

By Lucas Morais via Renewables Now

 

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Brazil hits 16 GW of installed wind capacity

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June 17 (Renewables Now) – Brazil’s installed wind power capacity has reached 16 GW, reaffirming its position as the second largest source of electrical generation in the country, the National Wind Energy Association (Abeeolica) announced earlier this week.

Brazil now has 637 operational wind parks, according to the association. It says the country will have at least 24 GW of installed wind power capacity by 2024, taking into account only contracts already in place through auctions and the free market. “With new auctions, this number will be higher,” Abeeolica’s CEO, Elbia Gannoum, said.

 

By Lucas Morais via Renewables Now

 

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Brazil prepares to resume Angra 3 project

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First concrete was poured for Angra 3 – a 1405 MWe (gross) pressurised water reactor – in 2010, resuming a project that had first begun in the 1980s before a lengthy suspension. The project was again suspended in mid-2015. Two nuclear power units – Angra 1 and 2 – supply about 3% of Brazil’s electricity. The units are operated by Eletrobras subsidiary Eletronuclear.

Following a meeting of the PPI council yesterday, PPI Special Secretary Martha Seillier told reporters in Brasillia that the private partner in Angra 3 must be a minority stakeholder. Brazilian President Jair Bolsonaro had also attended the PPI meeting, she said.

 

Via World Nuclear News

 

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Shell looks to Brazil solar power sales from farms that are due online in 2023

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BRASILIA (Reuters) – Royal Dutch Shell PLC <RDSa.L> is ready to start negotiating with potential clients the sale of future solar power on Brazil’s free energy market from its first farms due to start operating in 2023, Shell’s solar business development manager for Latin America said.

In a telephone interview on Monday, Maria Gabriela da Rocha said the startup date would depend on the negotiations and was part of Shell’s strategy to move into renewable energy, betting on industries’ increasingly wanting to sign long-term clean energy contracts.

By Luciano Costa via Yahoo Finance

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Most Brazil Projects Progress Despite the Pandemic

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With nearly 700,000 confirmed cases of COVID-19, Brazil trails only the U.S. as the most-impacted country, but in pushing to maintain economic activity, leaders have allowed construction to continue.

Projects have not shut down in most of Brazil’s 27 states, including Rio de Janeiro, São Paulo and Minas Gerais—its three largest economies.

 

By Augusto Diniz via Engineering News-Record

 

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Foreign investment returns to Brazil in May, first since July 2019

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Brazil posted a net foreign exchange inflow of US$ 3.1 billion in May, central bank figures showed on Wednesday, its first net inflow since July last year.

The figures showed a surplus of almost US$ 4 billion from trade-related FX contracts and an outflow of US$ 882 million from financial FX contracts, resulting in the biggest monthly inflow since February last year.

 

Via Merco Press

 

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History Repeats As Brazil Delivers Another Iron Ore Boom

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Brazil’s worsening Covid-19 crisis is making waves in the commodities world with reduced iron ore shipments from the South American country lifting the price of the steel-making material by 30% to almost $100 a ton.

There could be more to come with some analysts forecasting a return to last year’s peak price of $125/t, an unexpected rise also caused by events in Brazil.

 

By Tim Treadgold via Forbes

 

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CONGRESS AUTHORIZES ADDITIONAL CREDIT OF R $ 343.6 BILLION TO GOVERNMENT SPENDING IN 2020

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With the votes of senators on the afternoon of Thursday (21), Congress completed passage of the bill authorizing the executive branch to open additional credit in the amount of R $ 343.6 billion, inform the agencies’ House and Senate ” .

There were 74 votes in favor and none opposed. Most of this money – R $ 213.7 billion – will be used to pay pensions, pensions and other social security benefits. The PLN 8/2020 now goes to presidential approval. In the morning, the deputies approved this project by 451 votes in favor and 1 opposed.

 

Via DATAGRO

 

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Brazil ETFs Rally on Central Bank Support, Goldman Sachs’ Bullish Outlook

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Brazil country-specific exchange traded funds surged Thursday after the Central Bank of Brazil stated its intent to increase support of the real currency and Goldman Sachs argued that this emerging market was a prime cheap opportunity.

Among the best performing non-leveraged ETFs of Thursday, the iShares MSCI Brazil ETF (NYSEArca: EWZ), the largest Brazil-related ETF, increased 4.3%.

 

By Max Chen via ETF Trends

 

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Brasil e Estados Unidos aprofundam Diálogo Comercial

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Videoconferência realizada na quinta-feira passada (14/5) reuniu representantes brasileiros e norte-americanos para a sessão plenária da 18ª edição do Diálogo Comercial Brasil – Estados Unidos. As delegações dos dois países abordaram questões que afetam o comércio de bens e serviços e reafirmaram a importância de remover barreiras não-tarifárias para o crescimento do intercâmbio bilateral.

A delegação brasileira foi chefiada pelo secretário de Comércio Exterior do Ministério da Economia, Lucas Ferraz, que conduziu os trabalhos com o subsecretário de Comércio Internacional do Departamento de Comércio (DoC) dos Estados Unidos, Joseph Semsar. A reunião contou, também, com a participação dos embaixadores do Brasil em Washington, Nestor Forster, e dos Estados Unidos no Brasil, Todd Chapman.

 

Via gov.br

 

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Brazil introduces open banking

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Brazil is the latest country to embrace open banking, rolling out a new regulation enabling licensed institutions to share customer data.

Under the new rules, banks, payment institutions and others licensed by the Banco Central do Brasil, can share – at the customers’ discretion – registration and transactional data from individuals or legal entities.
Via Finextra

Brazil maritime trade surplus widens as ports remain open, farm exports strong: ATP

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SAO PAULO (Reuters) – Brazil recorded a $19.7 billion maritime trade surplus in the first four months of the year as imports by value fell as the real currency weakened and exports of agriculture goods remained strong, a port operators group said on Monday.

The surplus is 14.56% wider than in the same period of 2019 despite the crisis caused by the novel coronavirus, which has disrupted transport systems worldwide, said ATP, which represents Brazilian private-sector terminal operators including miner Vale and grain merchant Bunge .

 

By Ana Mano via WHTC

 

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Poultry exports from Brazil up 5.1%

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São Paulo – Poultry exports from Brazil were up 5.1% year-to-date through April from a year ago, the Brazilian Animal Protein Association (ABPA) reported.

This was the increase in terms of shipped volume. Year-to-date through April, Brazil exported 1.36 million tonnes of raw and processed poultry, from 1.29 million a year ago.

 

Via Brazil-Arab News Agency

 

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Brazil approves quantitative easing to fight coronavirus woes

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Brazil’s Congress on Thursday ratified a landmark constitutional amendment allowing the central bank to begin what is expected to be the emerging market world’s biggest quantitative easing programme to fight the economic hardships of the coronavirus pandemic.

The country’s central bank has until now been banned by law from engaging in monetary financing — essentially buying bonds at government debt auctions — but was allowed to purchase them on the secondary market to provide money supply. Under the new measures, the central bank has been granted crisis-fighting powers to buy a range of private and public assets, including government and corporate bonds, to ensure liquidity and shore up an economy expected to shrink 5.3 per cent in 2020.

 

By Andres Schipani and Bryan Harris via Financial Times

 

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Brazil expects exports to China to help mitigate the contraction of the country’s economy

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Brazilian Economy Minister Paulo Guedes said that according to initial estimates, the country’s economy would shrink 6% as a result of the recession caused by the new coronavirus pandemic, but now, thanks to the increase in exports to China, expectations are of a retraction of only 4% this year.

“Brazil was going to fall 6%, of which 2% was to be the external shock and 4% due to internal slowing down, although the 2% external shock we anticipate will not be happening”, the minister told a video virtual hearing of the of the Lower House and Senate combined committee that is monitoring and following the COVID-19 situation.

 

Via Merco Press

 

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Brazil’s annual basic interest rate cut to record low

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RIO DE JANEIRO, May 6 (Xinhua) — The Monetary Policy Committee of Brazil’s central bank (Copom) announced Wednesday its decision to cut the annual basic interest rate (Selic) from 3.75 to 3.0 percent, the lowest since the country adopted an inflation-targeting framework in 1999.

This has been the seventh consecutive rate cut by the central bank since July last year. The latest cut was made due to the harsh effects of the COVID-19 pandemic on the Brazilian economy.

 

Via Xinhua Net

 

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Coronavirus crisis fuels Brazil e-commerce shift as malls suffer

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SAO PAULO (Reuters) – Brazil’s battered retailers are starting to reopen after weeks of coronavirus lockdown but may exit the crisis transformed, with the e-commerce sector strengthened and brick-and-mortar chains facing an uphill path to normality.

That is potential good news for major local online retailers B2W Companhia Digital SA, Magazine Luiza SA and Via Varejo SA, despite increasing competition from international players Mercado Libre and Amazon.com in Latin America’s largest market.

By Gabriela Mello via Yahoo Finance

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U.S. government announces US $950,000 in assistance to mitigate the impact of COVID-19 in Brazil

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Brasilia, May 1, 2020:   The United States is providing US $950,000 (approximately R$ 5.21 million) in new economic support funds to incentivize private sector investments in mitigating non-health COVID-19 impacts on rural and vulnerable urban populations in Brazil with a focus on the Amazon region. This assistance builds upon past U.S. investment in Brazil, which totals more than US $617 million over the past 20 years, including nearly US $103 million for health. These funds will be programmed by the U.S. Agency for International Development (USAID), working through its private sector and civil society partners and in coordination with the Brazilian government.

 

Via U.S. Embassies and Consulates in Brazil

 

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IRS Issues New Guidance Addressing COVID- 19 Travel Disruptions and the Impact on U.S. Tax Residency

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Lisa Goldman, CPA, TEP, M.Tax | Rebeccah Fontaine, J.D., LL.M of Berdon LLP Beth Tractenberg, J.D. | Zvi Hahn, J.D., LL.M, LL.B. | George McCormick, J.D., LL.M. of Steptoe & Johnson LLP

In our recent advisory—COVID-19 and the Unintended Resident; the Good, the Bad, and the Ugly— we alerted non-U.S. citizens unable to leave the United States due to COVID-19 travel disruptions of the potential tax implications of their unintended stay in the country. The IRS apparently heard the call and recently issued Revenue Procedure 2020-20 that provides guidance and relief for foreign individuals and corporations as it pertains to U.S. tax residency.

 

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GOVERNMENT PUBLISHES MORE STANDARDS TO FACILITATE ACCESS TO CREDIT DURING THE PANDEMIC

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The Federal Government issued another set of rules to facilitate access to credit and minimize the economic effects of the pandemic COVID-19, informs the “Agency Senate.”

MP

According to the Provisional Measure 958/2020 published in the Official Gazette (DOU) on Monday (27), it was determined that until September 30, 2020, public banks are not required to fulfill certain obligations in time to renew and new loans. Before the MP, for example, without proof that the person voted in the last election, it was paid their fine or that if properly justified, the voter could not borrow to financial institutions. Now, such a requirement is temporarily suspended.

 

Via DATAGRO

 

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BNDES APPROVES R $ 1.1 BILLION FOR COMPANIES AFFECTED BY PANDEMIC

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The release of working capital facilities to companies affected by coronavirus pandemic totaled R $ 1.1 billion, today reported on Thursday (23) the National Bank for Economic and Social Development (BNDES), informs the “Agency Brazil” . The amount is equivalent to 22% of R credit line of $ 5 billion announced last month to help micro, small and medium enterprises.

 

Via DATAGRO

 

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Brazil steps up imports amid the pandemic

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São Paulo – Amid the crisis wrought by the Covid-19 pandemic, which has countries around the world embracing self-isolation among other measures, Brazil stepped up its imports in some sectors this month. Foreign purchases went up for items including sanitary equipment and accessories, livestock, pipes, tubes and hoses, wheat, coal, fertilizers, taps, ethylene polymers and electric generators.

 

Via Brazil-Arab News Agency

 

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Tech driving Brazil solar project efficiency as GCL SI anticipates market rebound

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Module-level technologies are driving strong efficiency readings within Brazil’s portfolio of solar projects, data from the country’s industry regulator is finding.

GCL SI expects the market to rebound from any lasting effects of the COVID-19 pandemic, with the market boasting a strong pipeline of projects and appetite for solar PV.

 

Via PV Tech

 

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Brazil set to start QE cautiously but may need to bring out ‘bazooka’

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BRASILIA (Reuters) – Brazil appears set to embark cautiously on unconventional monetary policy using small interventions to tackle dysfunction in bond markets, as it does with foreign exchange, but the severity of the crisis may ultimately force it to emulate the dramatic steps taken in the United States and Europe.

Congress is debating a bill to grant the central bank emergency powers to carry out “quantitative easing” or QE as part of its crisis-fighting arsenal, allowing it to buy public and private financial assets during national emergencies.

By Jamie McGeever via Yahoo Finance

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Brazil government, banks in talks about bailing out companies

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BRASILIA/SAO PAULO (Reuters) – Brazil’s Economy Ministry is talking with banks about providing bailouts to sectors such as airlines, automakers, power companies and large retailers to help them survive the coronavirus crisis, bank executives confirmed on Wednesday in live presentations.

Reuters reported earlier on Wednesday that Brazil’s biggest lenders – such as Banco Bradesco, Itau Unibanco Holding SA (ITUB4.SA), Banco Santander Brasil and Banco do Brasil SA (BBAS3.SA) – have discussed with the country’s central bank and development bank BNDES how and which financial instruments could be used to rescue embattled companies.

 

By Marcela Ayres and Carolina Mandl via Reuters

 

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Central Bank of Brazil tests settlement infrastructure for instant payments

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The Central Bank of Brazil has kicked off a new phase in the testing process for Pix, the upcoming national instant payments platform, with the simulation of transfers.

The tests of the technology underpinning the settlement infrastructure will see participating institutions testing their settlement flows, so the process where resources are transferred from the payer to the recipient, with fictitious data.

 

By Angelica Mari via ZD Net

 

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China conducts fair online to boost cooperation with Latin America

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China launched an online fair for 15 days on Tuesday (14) to promote cooperation between Chinese and Latin American companies, reports “Xinhua” agency. The digital display of international trade China-Latin America (Mexico), sponsored by the China Council for the Promotion of International Trade (CCPCI), attracted around 2000 domestic companies and about 5000 foreign buyers.

The exhibition is closely monitoring the market demand in Latin America and offers the online trading opportunities companies and precise partnership services through big data, said Gao Yan, head of CCPCI.

 

Via DATAGRO

 

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House approves aid to states and municipalities to compensate for loss of revenue

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The Plenary of the House of Representatives approved on Monday (13), Union financial assistance to states, Federal District and municipalities to offset the revenue loss of ICMS and ISS this year compared to 2019. The decrease is forecast pandemic caused by COVID-19. The text (Project of Complementary Law 149/19) will be sent to the Senate, reports the “Agency Board”.

The matter was approved by 431 votes to 70, in the form of substitute Pedro Paulo deputy (DEM-RJ), and provides that the money should be used in actions against the coronavirus. The funds will be delivered from May to October and refer to the collection of difference, if any, between the months from April to September of both years. Thus, for example, in September is not observed drop in income, no pass.

 

Via DATAGRO

 

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UPDATE 1-Brazil’s retail sales post pre-coronavirus surge in February

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BRASILIA, April 7 (Reuters) – Retail sales in Brazil surged in February, recording their biggest rise for that month in six years, with consumers’ urge to spend yet to be affected by the looming coronavirus crisis, official figures showed on Tuesday.

Sales volumes excluding cars and building materials jumped 1.2% in February from January, government statistics agency IBGE said, much stronger than the median estimate in a Reuters poll of economists of a 0.3% decline.

 

By Jamie McGeever via Reuters

 

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Brazil’s regulators launch blockchain platform for info sharing

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Brazil has launched a blockchain platform that will allow its three main market regulators to share information seamlessly. The platform is known as PIER and was launched jointly by the Securities and Exchanges Commission (CVM), the private insurance superintendent (SUSEP) and the Banco Central do Brasil (BCB).

While announcing the big move, the CVM stated that the use of blockchain technology is a leap in quality for information security in Brazil. PIER will make access of information siloed by the three institutions safer, broader and more direct, an analyst with the CVM, Frederico Shu stated.

 

By Steve Kaaru via Coin Geek

 

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Coronavirus: Congress passes a bill that facilitates spending in combating the pandemic

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Gathered in session of Congress on Thursday (02), Senators approved with 78 votes in favor and none opposed the bill that regulates the execution of impositive amendments to the budget (PLN 2/2020), informs the “Agency Senate”.

Moreover, the text was changed to allow the federal government has budgetary margin to increase spending to deal with the economic consequences, social and health pandemic COVID-19, a disease caused by a new coronavirus. Before the senators, federal deputies had approved the project in the morning, early in the virtual session of Congress by 441 votes in favor and 1 opposed. The PLN 2/2020 goes to presidential approval.

 

Via DATAGRO

 

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Brazil unveils $10 bln scheme to protect jobs threatened by coronavirus

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BRASILIA, April 1 (Reuters) – Brazil’s government on Wednesday launched a program that will allow companies hit by the coronavirus crisis to reduce workers’ salaries and hours, or temporarily suspend contracts, in order to preserve as many jobs as possible.

The program could potentially help save up to 12 million jobs, according to Economy Ministry estimates, and will cost the Treasury 51 billion reais ($10 billion).

By Marcela Ayres and Gabriel Ponte via Yahoo Finance

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Senate approves benefit of R $ 600 to self-employed and informal

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The Senate approved on Monday (30) the payment of an emergency aid for three months in the amount of R $ 600, for the self-employed, informal and without fixed income workers, reports the “Agency Brazil.” Called “coronavoucher”, help comes to repair the losses of income for some slices of society during the period of isolation when job opportunities for these categories are scarce.

The approval was unanimous, with 79 votes in favor and support of the opposition senators and the government. The PSL leader in the Senate, Major Olimpio (SP), was one of several parliamentarians who have spoken. “We are in need of such initiatives in the vein inject money for citizens buy food and survive this calamity. The first time that money will come into the hand of the people will be in this project. It calamity, people are in need. ”

 

Via DATAGRO

 

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Brazil introduces surveillance tech to slow the spread of coronavirus

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Governments across Brazil are looking to roll out a system developed that uses geolocation tracking to support actions around the lockdowns intended to slow the spread of COVID-19.

Brazilian startup InLoco develops the geolocation technology, which is normally used by companies from sectors such as retail, to securely target and engage with users without the need to share personal information. Users are geotracked through a location map that doesn’t use GPS or beacons, which InLoco claims to be 30 times more accurate than GPS.

 

By Angelica Mari Via ZD Net

 

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Brazil opens funding for fintechs through state development bank

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SAO PAULO, March 26 (Reuters) – Brazil’s monetary council on Thursday said the country’s fintechs will be able to obtain funding from development bank BNDES, as their usual financing channels have dried up due to coronavirus-linked market tensions.

The authority also said that fintechs will be allowed to issue credit cards as an alternative source of revenue.

 

By Carolina Mandl via Nasdaq

 

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CNI calls for national strategy for foreign trade

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With the diagnosis that the encouragement of industry export capacity is essential for the recovery of the Brazilian economy, the National Industry Confederation (CNI) asked the government to draw up a national strategy for foreign trade, informs the “Agency Brazil.” It said foreign sales are one of the few engines for the resumption of growth will remain after the end of the pandemic caused by the new coronavirus covid-19.

The suggestion contained in the 5th edition of the International Agency of Industry, released on Wednesday (25) by CNI. The document lists 109 actions suggestions for the government and the entity itself, divided into four areas: trade policy, to support the internationalization services, actions in strategic markets and international cooperation.

 

Via DATAGRO

 

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Infrastructure ministry will work with states to avoid blocking highways

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The Ministry of Infrastructure announced on Monday (23) that the folder will work together with the governors of the states of South and Southeast to avoid local decisions which determine the blocking of roads as containment measure of the spread of the new coronavirus, informs the “Agency Brazil.” The subject was treated in videoconference between the Minister Tarcisio Gomes de Freitas and the governors of the Consortium of South and Southeast Integration (Cosud).

According to the ministry, there was consensus that state decrees shall ensure the free movement of cargo transportation and the operation of services of tire stores, auto repair shops, restaurants and eateries along the highways.

 

Via DATAGRO

 

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Debentures encouraged now total R $ 9 billion in investments in the biofuels sector

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The Ministry of Mines and Energy (MME) published two more ordinances framework of priority projects in the biofuels sector, aiming at issuing debentures encouraged. The measure encourages the expansion of investment by raising funds for infrastructure projects aimed at implementation, expansion, maintenance, recovery, adaptation or modernization of enterprises with tax breaks for investors and encouraging the growth of employment and income in the industry .

 

Via DATAGRO

 

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Falling fuel prices, weak currency drive Brazil switch from ethanol to sugar

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NEW YORK, March 23 (Reuters) – Brazilian mills are expected to make a sharp switch from ethanol to sugar production in the new season kicking off in the world’s largest sugarcane producer, as falling gasoline prices and a weak currency reduce the biofuel’s appeal, analysts said.

Mills in Brazil have the flexibility to partially switch cane toward sugar or ethanol production, depending on market prices. For the last two years, they have allocated an all-time low amount of cane for sugar, around 34%, as ethanol gave them higher returns.

 

By Marcelo Teixeira via Nasdaq

 

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Brazil launches national standard QR code

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The Central Bank of Brazil has launched its standard for QR Codes, to universalize cashless payments in the country. The new standard will become mandatory in September 2020.

“The new rules aim to increase transparency for end-users, both payers and recipients, by expanding and improving access to information and, thus, creating a pro-competitive environment in the Brazilian Payment System”, said the Central Bank, in a statement.

 

By Angelica Mari via ZD Net

 

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Golar Plans Brazil LNG Import Terminal

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Golar Power Limited has signed a “protocol of intentions” with the government of Brazil’s Pernambuco state to develop a liquefied natural gas (LNG) import terminal in the Port of Suape in northeastern Brazil, Golar LNG reported Monday.

Golar Power is a 50/50 joint venture (JV) between Golar LNG and the private equity firm Stonepeak Infrastructure Partners, according to Stonepeak’s website.

 

By Matthew V. Veazey via RigZone

 

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Ethanol exports reached 1.77 billion liters by the end of February 2020

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The month of February recorded that ethanol sales by mills in the South-Central region totaled 2.40 billion liters, with 2.28 billion liters for the domestic market and 120.79 million liters for export.

The export volume represents an increase of 41.40% over February 2019 (85.42 million liters), with 99.49 million liters sold in the last half of the month.

 

Via DATAGRO

 

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Bolsonaro and Trump talk about bilateral trade package

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Interested to strengthen the economic partnership between Brazil and the United States, the Presidents Jair Bolsonaro and Donaldo Trump instructed their negotiators to intensify the discussions prior to the possible signing of a bilateral trade package. The information was confirmed by the Ministry of Foreign Affairs. According to the folder, the intention is that an agreement will be signed later this year.

Bolsonaro and Trump met on Saturday night (07), during a dinner at a resort belonging to the very head of the US Executive, located in Palm Beach, Florida, announces the “Agency Brazil.”

 

Via DATAGRO

 

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Economy will grow more than 2% if reforms are approved, says minister Guedes

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The Brazilian economy will grow more than 2% in 2020 if the government-proposed reforms are approved, he said on Wednesday (04) Economy Minister, Paulo Guedes, informs the “Agency Brazil.” He said the coronavirus will have little impact on the country because the Brazilian economy is closed in relation to the economies of the rest of the world.

“In the second year [of government], I think we grow above 2%, even with the coronavirus. The Brazil has had two confirmed cases [the number rose to three today]. It is an economy that was relatively closed all these years, “said Guedes, he left the Ministry of Economy for a ceremony at the Presidential Palace.

 

Via DATAGRO

 

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Brazil Posts $3.1 Billion Trade Surplus in Feb, No Coronavirus Impact Yet

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BRASILIA — Brazil posted a trade surplus of $3.1 billion in February, official data showed on Monday, far stronger than forecast and confounding any expectations that the coronavirus outbreak might have dampened exports.

February’s figure was double the median consensus forecast in a Reuters poll of economists of a $1.5 billion surplus, a result of exports totaling $16.4 billion and imports reaching $13.3 billion.

 

By Marcela Ayres and James McGeever via The New York Times

 

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POLL-Brazil stocks to fly again once coronavirus worries subside

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BUENOS AIRES/SAO PAULO/MEXICO CITY, Feb 26 (Reuters) – Brazilian stocks are forecast to soar nearly 19% by the end of 2020, logging a fifth year of solid gains, according to a Reuters poll of market strategists who were looking beyond current jitters over the coronavirus outbreak.

The benchmark Bovespa stock index .BVSP is forecast to rise to 135,000 points by the end of 2020, a 18.8% increase over its last mark before Carnival holidays this week, according to the median estimate of 15 strategists surveyed Feb 13-25.

 

By Gabriel Burin, Paula Laier and Miguel Gutierrez via Nasdaq

 

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Centrica sends cargo to launch Brazil’s first private LNG terminal

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LONDON, Feb 25 (Reuters) – Britain’s Centrica CNA.L chartered a vessel to supply liquefied natural gas (LNG) this month to power firm Centrais Elétricas de Sergipe S.A. (CELSE) ELET6.SA, launching Brazil’s first private LNG terminal.

Brazil has been implementing reforms to end the monopoly of Petroleo Brasileiro SA PETR4.SA, known as Petrobras, in supplying natural gas to the domestic market. The new terminal was developed before the reforms were announced last year.

 

By Ekaterina Kravtsova via Reuters

 

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Brazil’s new ranks of shareholders reflect fundamental shift

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Mairton Garbelotti is taking a gamble.

Like many Brazilians, the 67-year-old pensioner from São Paulo has grown accustomed to high interest rates, which for decades fed through to double-digit returns in money-market investments backed by Treasury bills. But those high yields have evaporated with cut after cut to the country’s benchmark interest rate. In response, Mr Garbelotti has joined a new army of investors who are turning to riskier assets in search of higher returns.

 

By Jonathan Wheatley and Andres Schipani via Financial Times

 

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Brazil poised to make central bank independent of political control

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Brazil is poised to give its central bank independence from political control in a move spearheaded by the bank’s US-educated president Roberto Campos Neto to shore up its reputation with international investors. Legislation to implement the change was pushed through Congress’s committee stages last week and is expected to face a full parliamentary vote in the coming weeks.

 

By Bryan Harris via Financial Times

 

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Solar energy expands quickly in Brazil, attracts Chinese firms

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PORTO FELIZ, Brazil (Reuters) – Beside the green pastures and sugarcane plantations surrounding the farming town of Porto Feliz is the strange sight of hundreds of blue, silicon panes turned towards the sun.

This solar farm, about 150 km (93.2 miles) from Sao Paulo, produces electricity for around 40 homes and small businesses like restaurants and gyms.

 

By Luciano Costa via Reuters

 

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Brazil’s Central Bank to Launch Near-Instant Payments as a Response to Cryptocurrencies

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Called PIX, the project from the country’s central bank will provide 24/7 payments in up to 10 seconds via mobile apps, internet banking and ATMs, according to reports from Reuters and local crypto news site Livecoins on Wednesday.

Slated for launch on Nov. 10, 2020, PIX is aimed to speed up and reduce the costs of fiat transfers between individuals and businesses.

 

By Daniel Palmer via CoinDesk

 

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Retail sales in Brazil up 1.8 pct in 2019

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RIO DE JANEIRO, Feb. 12 (Xinhua) — Retail sales in Brazil were up 1.8 percent in 2019 compared with 2018, the Brazilian Institute of Geography and Statistics (IBGE) announced on Wednesday.

According to the IBGE, only one out of the nine sectors analyzed by the agency registered decrease in sales volume — books, newspapers and stationary products, whose sales were down 20.7 percent in 2019.

 

Via Xinhua Net

 

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Look on the bright side of the Brazilian real

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Is it time to buy the dip in Brazil? Local assets have been tanking. The currency has dropped 7 per cent this year to a record low. São Paulo stocks have slumped by a similar degree.

Investors were spooked last week when December’s industrial production data disappointed. The nervous mood certainly has not been helped by the coronavirus outbreak. Brazil is far from the centre of that storm but its large commodities exports and relatively liquid markets make it an easy target when jitters hit.

 

By Jonathan Wheatley via Financial Times

 

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UPDATE 2-Brazil central bank assessing increased ‘power’ of recent rate cuts – minutes

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BRASILIA, Feb 11 (Reuters) – The economic and financial impact of Brazil’s recent interest rate cuts may be greater than in previous periods, minutes of the central bank’s last policy meeting showed on Tuesday, thereby justifying a pause in its unprecedented easing cycle.

On balance, the minutes showed policymakers believe there may be less slack in the economy than previously thought, and that more flexible credit and capital markets have magnified the power of monetary policy.

 

By Jamie McGeever via Reuters

 

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Canadian Solar Secures 225.2 Million Brazilian Reais Financing for Lavras Project in Brazil

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GUELPH, Ontario, Feb. 10, 2020 /PRNewswire/ — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced it has secured 225.2 million Brazilian reais (US$ 55 million) non-recourse project financing from Banco do Nordeste do Brasil S.A. (BNB) for its Lavras solar power projects. Since the beginning of 2019, Canadian Solar has secured BRL 1,007 million (US$ 247 million) solar project financing with BNB.

The 152.4 MWp Lavras project will be funded over 21 years across the construction and operation phases of the projects. The inflation-linked debt tied to the National Consumer Price Index (IPCA) will provide improved capital and resource alignment with the Brazilian economy.

Via Yahoo Finance

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How Brazil Can Become An Economic Powerhouse

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In only one-year Brazil President Jair Bolsonaro has been able to revert 13 years of socialist policies which were implemented by the previous leftist presidents Lula and Dilma. His accomplishments include passing important free-market reforms such as the pension reform and different de-regulation laws, such as the reduction of the number of Ministries from 29 to 22, and the privatization of logistics networks from roads to airports. Thanks to the approval of the anti-crime package crime rates have dropped by 22%. Also, 2019 was the best year for employment since 2013, with almost one million jobs created.

 

By Lorenzo Montanari via Forbes

 

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CNA and the Ministry of Infrastructure discuss positive agenda for road transport

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The president of the Confederation of Agriculture and Livestock of Brazil (CNA), João Martins, discussed the construction of a positive agenda for the carriage of cargo with the National Secretary of the Ministry of Land Infrastructure Transport, Marcello da Costa Vieira.

The Confederation has presented proposals for the sector in order to facilitate the flow of agricultural production. “For us the dialogue with the government is important to work to find solutions for road transport is vital for agriculture,” Martins said. “It is the quality of the production flow that will make the country the largest exporter of food in the world.”

 

Via DATAGRO

 

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Brazil Pushes Its Great Downsizing and Rakes In $5.2 Billion

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(Bloomberg) — The Brazilian state development bank unloaded its voting stake in oil giant Petroleo Brasileiro SA, raking in 22 billion reais ($5.2 billion) as part of a wave of asset sales aimed at reversing years of growing government influence in Latin America’s biggest economy.

BNDES, as the bank is known, sold all 734 million shares, including over-allotments, for 30 reais apiece late Wednesday, the company said in a regulatory filing. That’s a discount of less than 2% to the closing price, an indication that demand held up well in the face of sinking crude prices. Shares rose more than 1% in early trading Thursday to top the offering price.

By Cristiane Lucchesi,  Vinicius Andrade and Sabrina Valle via Yahoo Finance

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Brazil Caps Record-Breaking Easing Cycle With Final Rate Cut

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Brazil’s central bank intends to hold interest rates going forward to consider the impact of the record-breaking monetary easing cycle it concluded on Wednesday with a quarter-point cut.

The bank’s board, led by its President Roberto Campos Neto, lowered the Selic rate to 4.25%, as forecast by 35 of 45 economists in a Bloomberg survey. The remaining analysts expected borrowing costs to stay at 4.5%.

By Mario Sergio Lima via Yahoo Finance

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A New Way Forward for Brazil’s Economy

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Part of a continuing series on how Latin America can overcome a decade of slow economic growth. 

Economic analysts, myself included, once thought that Brazil could reach a per capita income equal to Spain or Portugal by the early 2020s. Instead, the 2010s seem destined to go down as a lost decade for Brazil in many of the ways that matter most: productivity, living standards, health, education, and fairness.

 

By Thomas J. Trebat

 

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Hedge Fund Makes a Bold Bet on Brazil Rates

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A newcomer in Brazil’s booming hedge fund industry says the country’s interest rate cuts will have to run much deeper than most investors expect, defying calls that the easing cycle is close to an end.

Persevera Asset Management, a firm created by former executives at HSBC Holdings Plc in Brazil, expects Latin America’s largest economy to once again grow less than forecast. That will force the central bank to cut the key rate from the current 4.5% to as low as 3% this year.

 

By Vinicius Andrade and Felipe Marques via Bloomberg

 

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U.S. willing to help Brazil improve oil auctions, official says

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RIO DE JANEIRO, Feb 2 (Reuters) – The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation’s attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped.

In November, Brazil, a staunch U.S. ally under far-right President Jair Bolsonaro, tried to sell the rights to four offshore oil producing zones in a process that could have fetched some 106.5 billion reais ($25.5 billion) for the government.

 

By Gram Slattery via Reuters

 

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Brazil: A self-reporting take on digital finance

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First there is the tech itself. And while tech in finance is admittedly not a new addition to the beat, the pace of expansion has become to feel a little intense.

It’s not just that innovation is coming in faster waves or that it’s increasingly complex, it’s that technology is now actually changing business strategy. It is creating brand new ecosystems, rather than just giving a productivity jolt to existing financial segments.

By Rob Dwyer via Euromoney

 

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Brazil Taps a 36-Year-Old Mandarin Speaker to Boost China Trade

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A 36-year-old, Mandarin-speaking trade specialist is Brazil’s newest bet to boost food exports to China just as the Latin American country fights with the U.S. for a bigger share of the world’s largest commodities market.

Larissa Wachholz, who holds a masters degree from the Renmin University of China, was tapped in December by the Brazilian agriculture ministry to lead a trade unit dedicated to the Asian country, the first of its kind in Brazil. Her mission is to diversify Brazilian exports to its top trading partner beyond soybeans and beef, as part of a strategy to smooth out the ups and downs in trade flows between the countries.

By Samy Adghirni and Simone Iglesias via Yahoo Finance

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Confidence in Brazil’s construction sector reaches 5-year high in Jan.

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RIO DE JANEIRO, Jan. 28 (Xinhua) — Confidence in the Brazilian construction sector rose in January to a five-year record, Brazilian think tank Getulio Vargas Foundation (FGV) announced on Tuesday.

According to the FGV, the confidence indicator of the construction sector rose from 89.9 points in December to 91.9 points in January, the highest since May 2014.

 

By Xinhua Net

 

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India, Brazil sign 15 accords to deepen ties across range of sectors

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(Reuters) – India and Brazil have signed 15 accords aimed at forging closer ties between the two emerging market giants across a range of sectors, especially defense, both countries’ leaders tweeted on Saturday.

Indian Prime Minister Narendra Modi and Brazilian President Jair Bolsonaro took to social media to hail the closer cooperation and agreements struck during Bolsonaro’s official visit to India.

 

By Ismail Shakil and Jamie McGeever via Reuters

 

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Brazil government sees $100 billion interest savings, wiping out primary deficit by 2022

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BRASILIA (Reuters) – The Brazilian government’s interest payment bill on the national debt could fall by 417 billion reais ($100 billion) over the course of its four-year term ending in 2022, by which time the primary budget deficit could also be completely eliminated, a senior Economy Ministry official said on Thursday.

The fall to a record low 4.5% in the central bank’s benchmark interest rate since the middle of last year accounts for the interest savings, and the public finances could be even stronger if economic reforms accelerate growth further, said Waldery Rodrigues, special secretary to the Economy Ministry.

 

By Marcela Ayres via KFGO

 

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Brazil became 4 ° investment destination in the world in 2019

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With the help of federal enterprises privatization program, Brazil rose from sixth to fourth place among the leading foreign investment destinations in the world in 2019, informs the “Agency Brazil.” According to a report released on Monday (20) by the United Nations Conference on Trade and Development (Unctad), Brazil received US $ 75 billion in foreign investment last year, up from $ 60 billion in 2018.

The first three places in the ranking investment destination were with the United States, with US $ 251 billion last year; China, with US $ 140 billion and Singapore with US $ 110 billion. The $ 75 billion that arrived in Brazil amount to more than half of the $ 119 billion that South America received last year.

 

Via DATAGRO

 

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U.S. backs Brazil for OECD membership ahead of Argentina

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BRASILIA (Reuters) – The United States’ change of stance to support Brazil’s bid to join the Organization for Economic Cooperation and Development (OECD) ahead of Argentina was welcomed by the Brazilian government on Tuesday.

The U.S. government’s plans, after having previously said they wanted Argentina to be next in line to join the rich nations’ club, are a win for far-right President Jair Bolsonaro, a longtime admirer of U.S. President Donald Trump who has sought closer ties with Washington since taking office last year.

 

By Anthony Boadle via Reuters

 

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Brazil climbs to sixth from eighth biggest world market

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The year 2019 was quite good for the Brazilian auto industry although it could have been better.

Last month, for example, daily average sales were the best in six years, topping 13,173 registrations. This resulted in industry and dealer stocks of 33 days in December 2019, down from 38 days in November, slightly below the 35 considered normal.

 

By Fernando Calmon via Just Auto

 

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Brazil posts strongest November job creation since 2010

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BRASILIA, Dec 19 (Reuters) – Brazil added 99,232 payroll jobs in November, the best expansion in employment for the month since 2010, the Economy Ministry said on Thursday, as a gradual economic recovery brings improvement in the labor market.

The result was well above expectations, and more than double the forecast 47,500 new jobs in a Reuters poll of economists.

 

Via Reuters

 

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Brazil’s debt under control, tax reform next: economy minister

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BRASILIA (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Wednesday he had reached agreement with Congressional leaders on modernizing the country’s complex tax system next year and one option could be taxing on-line transactions.

Brazil has brought its snowballing public debt under control with reform of the costly pension system and spending cuts, he said, while interest rates are at record lows after the central bank cut its benchmark Selic rate to 4.50% on Dec. 11.

 

By Marcela Ayres and Anthony Boadle via Reuters

 

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Brazil congressional committee approves 2020 budget

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BRASILIA, Dec 17 (Reuters) – A Brazilian congressional committee on Tuesday approved the government’s budget for next year, with the bill based on projected 2.32% GDP growth in 2020 to be put to a vote in a joint session of Congress on Wednesday.

The budget proposal would raise the minimum wage earned by Brazilian workers to 1,031 reais ($246) a month from 998 reais ($238).

 

By Maria Carolina Marcello via Reuters

 

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Chinese companies to build Brazil’s second-longest bridge

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RIO DE JANEIRO, Dec. 13 (Xinhua) — A consortium of state-owned Chinese companies on Friday was awarded the contract to build and operate what will be the second-longest bridge in Brazil.

Under the project, a bridge will be built spanning the famed Bay of All Saints, which connects Salvador, capital of the northeastern Bahia state, with Itaparica Island. The project also involves the construction of related roads.

 

Via Xinhua Net

 

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Brazil services sector gets off to solid fourth-quarter start

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BRASILIA (Reuters) – Services sector activity in Brazil expanded in October far more than economists had expected, figures on Thursday showed, indicating that overall growth in Latin America’s largest economy continued to accelerate going into the year end.

The figures appear to back up the central bank’s statement on Wednesday accompanying its decision to cut interest rates to a new low of 4.50% that “economic activity since the second quarter indicates that the process of economic recovery picked up relative to the first quarter.”

 

By Jamie McGeever via KFGO

 

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S&P raises Brazil’s outlook to positive

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Dec 11 (Reuters) – S&P Global Ratings on Wednesday revised the outlook on Brazil to positive from stable, citing the government’s continued implementation of measures to reduce its fiscal deficit.

“The approval of social security reform and expected progress on fiscal and growth measures, along with moderate growth driven by stronger domestic demand, could improve Brazil’s fiscal position over the medium term,” the agency said in a statement here

 

By Shivani Singh via Reuters

 

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Brazil central bank cuts key rate to record low

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SÃO PAULO–Brazil’s central bank cut its benchmark interest rate by a half point Wednesday, as inflation has remained below target amid increasing signs the economy is improving.

The bank cut the benchmark Selic rate to 4.5%, a record low that follows a series of reductions that brought it down from 14.25% in 2016. In its post-meeting statement, the bank was less clear about its next step than in previous statements, but indicated it’s open to continue cutting rates next year.

 

By Paulo Trevisani via Market Watch

 

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Brazil’s booming credit markets fan hopes of ‘revolution’

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This weekend a group of executives from XP Investimentos, a Brazilian financial services firm, will fly to New York to oversee the company’s initial public offering on the Nasdaq stock exchange, due to be priced on Tuesday.

They hope to raise $1.7bn in a sale that would value XP, which was founded 18 years ago by a newly unemployed 24-year-old, at about $14bn.

 

By Jonathan Wheatley, Bryan Harris and Andres Schipani via Financial Times

 

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Brazil needs to invest 4.31% of GDP per year in infrastructure, says Abdib

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Investment in infrastructure in 2019 should reach R $ 131.7 billion, compared to R $ 122.8 billion in 2018, updated figures by the IPCA 2018 prices, point calculations of the Brazilian Association of Infrastructure and Basic Industries (Abdib). In 2017, investments totaled R $ 115.2 billion. In 2016, R $ 117.5 billion, the same criteria.

Already in 2020 the infrastructure sector, whose investments are at a level too low after significantly retreat in recent years, will contribute more positively to the recovery of the economy as a whole.

 

Via DATAGRO

 

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Brazilian stocks to rise in 2020 after 2019’s Latin American turmoil

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SAO PAULO — Brazilian equities are expected to shine amid a fog of political and economic uncertainty in Latin America next year, outperforming regional peers due to record-low interest rates and a pending lineup of market-friendly economic reforms.

The latest Reuters quarterly poll shows Brazil’s benchmark Bovespa stock index extending this year’s rally to end 2020 at 130,000 points, according to the median of 18 forecasts from traders, brokers and economists.

 

Via Gabriela Mello via Financial Post

 

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From UBS to JPMorgan, Brazil Stock Bulls Are Running Wild

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From JP Morgan Chase & Co. to UBS Group, big Wall Street banks reinforced their bullish bets for Brazilian stocks this week, suggesting a year-long rally has further to go.

They are recommending clients to be overweight in stocks from Latin America’s biggest economy, saying a pickup in growth next year and record-low interest rates set a Goldilocks scenario for equities. The rally that took the Ibovespa benchmark index to an all-time high this month is just the start, they say.

 

By Aline Oyamada and Vinicius Andrade via Bloomberg

 

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UPDATE 1-Brazil inflation in mid-November slips to second lowest in over 20 years

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BRASILIA, Nov 22 (Reuters) – Brazilian inflation fell to the second lowest level in more than two decades, according to a mid-month measure of consumer prices released on Friday, a figure likely to give the central bank extra cover to reduce interest rates again next month.

The annual rate of Brazil’s IPCA-15 consumer price inflation in the month to mid-November fell to 2.67% from 2.72% the month before, marking the lowest rate since September last year and the second lowest since March 1999.

 

By Jamie McGeever via Reuters

 

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What Brazil’s Tariff Changes Mean for U.S. Manufacturers

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After decades shielded by closed economic policies, Brazil is changing its course on trade. President Jair Bolsonaro’s administration is slashing import tariffs on more than 2,300 products — reducing some to zero from as much as 20%.

For local businesses accustomed to protectionism, the policy change means being forced to adapt to the challenges of free trade. For American manufacturers, however, the world’s eighth-largest economy just became a new opportunity.

By Shelagh Dolan via ThomasNet

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Brazil economic activity picks up in September

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SAO PAULO — Economic activity in Brazil accelerated in September, closing the third quarter on the upswing and offering hope that the country’s long-struggling economy may be turning the corner.

The central bank’s IBC-Br economic activity index, a leading indicator of gross domestic product (GDP), rose 0.44% in September from August, well above 0.07% growth the month before.

 

By Jose de Castro via Financial Post

 

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Brazil and China close agreements in innovation and agricultural technology

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Brazil and China signed today (13) agreements and memorandums of understanding in the areas of politics, economy, trade, agriculture, health inspection, transportation, health and culture. Chinese President Xi Jinping, is in Brasilia to attend the 11th meeting of BRICS Summit and met early on Wednesday with President Jair Bolsonaro, at the Itamaraty Palace, informs the “Agency Brazil.”

Speaking to press, Bolsonaro said the government and Brazilian businessmen want to expand and diversify trade with China. For the president, the acts signed give impetus to these relations. “This bilateral relationship in various areas, including the Chinese government’s nod on adding value what we produce, all this is very welcome,” he said.

 

Via DATAGRO

 

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Brazil government unveils package to create up to 4 million jobs by end-2022

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BRASILIA (Reuters) – Brazil’s government on Monday announced measures and legislative proposals to create up to 4 million jobs by 2022 and inject tens of billions of reais into the economy through loans and projected savings for private and state-run firms.

The proposals are aimed at generating jobs and growth in Latin America’s largest economy, which is on track to expand at a sluggish pace of around 1% for the third year in a row and boasts a stubbornly high unemployment rate of just under 12%.

 

By Marcela Ayres via Reuters

 

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Brazil unveils reform package to tackle huge fiscal deficit

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BRASILIA (Reuters) – Brazilian President Jair Bolsonaro’s government unveiled a bundle of wide-ranging reforms on Tuesday, aimed at cutting spending and reducing the size of the state to drive down its chronic fiscal deficit.

Pushing ahead with an ambitious privatization plan, he sent Congress a bill to sell Brazil’s largest utility, state-run Centrais Eletricas Brasileiras SA (ELET6.SA), known as Eletrobras.

 

By Marcela Ayres and Lisandra Paraguassu via Reuters

 

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Bulls Bank On Brazil Again

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Brazil, Latin America’s largest economy, is lowering interest rates and the Senate there recently passed much-needed pension reform. With those factors, among others, in mind, perhaps it’s not surprising some professional investors are again warming to Brazilian equities.

The iShares MSCI Brazil Capped ETF EWZ, +1.70% is up 18.53% year to date, a gain that’s well ahead of the 9.88% returned by the MSCI Emerging Markets Index. EWZ has a three-year standard deviation of 28.48%, also well above that of the MSCI Emerging Markets Index, but this year, Brazilian stocks are justifying the added risk.

 

Via Market Watch

 

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Brazil cuts rates to new low 5.00%, signals pace of future easing may slow

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BRASILIA (Reuters) – Brazil’s central bank cut its benchmark interest rate to a new all-time low of 5.00% on Wednesday as expected, but signaled that further easing may be less aggressive than it has been in recent months, despite inflation running well below target.

In a change from recent statements, the bank’s policymakers warned that the historically low level of rates could raise uncertainty and lift inflation within the time horizon for which the bank sets policy.

 

By Jamie McGeever via KFGO

 

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Controlling inflation Brazil central bank’s priority, says rate-setter nominee

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BRASILIA (Reuters) – The main aim of the Brazilian central bank’s monetary policy is to ensure low and stable inflation, Fabio Kanczuk, the monetary authority’s incoming director for economic policy, said at his Senate confirmation hearing on Tuesday.

In brief opening remarks, in which he made no further comment on his outlook for official interest rates, Kanczuk said “it is with monetary stability that we will get interest rates to the most appropriate levels, always firm in our objective of promoting an environment of sustainable economic growth.”

 

By Marcela Ayres via KFGO

 

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Brazil rates to hit record low 5.00%, seen falling further: Reuters poll

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BRASILIA (Reuters) – Brazil’s benchmark interest rate will be cut to a record low of 5.00% on Wednesday, according to the unanimous view in a Reuters poll of economists, as the central bank battles to spur economic growth and prevent inflation from falling further below target.

All 31 economists surveyed say the bank’s rate-setting committee known as ‘Copom’ will reduce the Selic rate by half a percentage point for the third successive meeting. A dovish outlook for the next year from 25 economists was also unanimous.

By Jamie McGeever via Yahoo Finance

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Mercosur agreement with Canada may open market of $ 300 billion, says diplomat

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Negotiations between Mercosur and Canada aimed at closing a free trade agreement are “intense”, with the possibility of being finalized by 2020. This was the information brought to the Committee on Foreign Relations and National Defense (CRE) of the Senate by the diplomat Pedro Henrique Lopes Borio on Thursday (24), when appeared before and had its name approved to head the Brazilian embassy in Canada.

“Interestingly, the coordinator of the negotiations on the Canadian side, David Usher, must occupy a prominent place in the new cabinet of Prime Minister Justin Trudeau, who has just been re-elected. This shows the importance that Canada gives the Mercosur because they want to reduce the dependence of the US economy have. They want to diversify its trade. But this agreement is also of paramount importance to Brazil. Will open the Canadian government procurement market for us, that comes to $ 300 billion [about US $ 1.2 trillion] per year, “Borio said.

 

Via DATAGRO

 

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Can Brazil’s pension reform kick-start the economy?

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After decades of delay and political deadlock, Brazil has finally passed its long awaited pension reform. It is a big victory for the country’s far-right president Jair Bolsonaro and his economic tsar, the University of Chicago-educated Paulo Guedes, who spearheaded its passage.  The costs of failure would have been high. Brazil’s ballooning pensions spending risked sparking “a social collapse” in Latin America’s largest economy, according to Rodrigo Maia, the Speaker of the lower house who shepherded the constitutional amendment required to reform the pensions system through a fractious Congress.

 

By Andres Schipani and Bryan Harris via Financial Times

 

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UPDATE 1-Brazil mid-month October inflation lowest in 21 years

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BRASILIA, Oct 22 (Reuters) – A measure of Brazilian inflation this month fell to its lowest in over 20 years, figures on Tuesday showed, cementing the view that the central bank will cut interest rates to a fresh all-time low next week and probably again before the year is out.

Consumer prices rose 0.09% from mid-September to mid-October, marking the weakest rate of this particular measure of monthly inflation for any month of October since 1998, according to government statistics agency IBGE.

 

By Jamie McGeever via Reuters

 

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UPDATE 1-Brazil awards contracts for 2.98 gigawatts of new power projects

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SAO PAULO, Oct 18 (Reuters) – The Brazilian government awarded on Friday contracts for companies to build new power generation installations with combined capacity of 2.98 gigawatts, that will cost about 11.16 billion reais ($2.71 billion) to be built.

According to the power trading chamber CCEE, the new plants, which will need to be operational in six years, will sell energy for an average price of 176 reais per megawatt, a 33% discount over the initial price at the auction.

By Luciano Costa via Yahoo Finance

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After trade talks in U.S., China ramps up Brazilian soy purchases

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CHICAGO/BEIJING (Reuters) – Chinese importers have been busy booking fresh purchases of soybeans from Brazil this week, despite the White House announcement that China had agreed to buy up to $50 billion of U.S. farm products annually during trade talks last week.

Two traders said China has booked at least eight boatloads, or 480,000 tonnes worth $173 million, of Brazilian soybeans since Monday.

 

By Karl Plume and Hallie Gu via Reuters

 

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Explainer: Translating TOR – How Brazil’s $26 billion oil rights auction works

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RIO DE JANEIRO (Reuters) – Brazil’s Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR – the ‘transfer-of-rights’ area.

The bidders who win exploration and production rights in the massive Nov. 6 auction will be obliged to pay the government a combined signing bonus of some 106.5 billion reais ($25.8 billion), making it the largest oil bidding round in history, according to Brazilian authorities.

By Gram Slattery and Marta Nogueira via Yahoo Finance

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Brazil Raises Over $2 Billion From Ten Oil Majors In Exploration Rights Auction

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In an encouraging development for Brazil’s offshore oil exploration and production (E&P) sector, a bevy of big industry names queued up for the latest rights on offer agreeing to fork up $2.2 billion.

On Thursday (October 10), the country’s government confirmed that ten companies had agreed to pay the amount for drilling rights in 12 offshore oil blocks, with the country’s pre-salt deposits, i.e. exploration prospects in which billions of barrels of oil are trapped beneath a layer of salt underneath the ocean bed, attracted the most attention.

 

By Gaurav Sharma via Forbes

 

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UPDATE 1-Brazil inflation falls to 2.89%, lowest since May last year

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BRASILIA, Oct 9 (Reuters) – Brazilian consumer price inflation fell to its lowest in more than a year in September, official figures on Wednesday showed, a reading below the central bank’s target that is likely to strengthen expectations of another cut in interest rates.

The benchmark IPCA index of inflation rose 2.89% in the 12 months through September, down from an increase of 3.43% in the previous month, government statistics agency IBGE said on Wednesday.

 

By Jamie McGeever via Reuters

 

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Brazil’s Strategic Expansion in the Indo-Pacific

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As part of its grander geostrategic ambitions, Brazil aims to expand its strategic reach in the Indo-Pacific region. Moving from a regional power in South America to a global player will entail Brasilia extending its influence across the Pacific to the west coast of Africa and eventually around to the wider Indo-Pacific region.

This grand strategic vision has accelerated under the current Brazilian leadership.

 

By Balaji Chandramohan via The Diplomat

 

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Brazil’s central bank drafts bill to modernize foreign exchange market

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BRASILIA, Oct. 7 (Xinhua) — Brazilian President Jair Bolsonaro on Monday submitted to Congress a bill drafted by the Central Bank of Brazil to modernize the foreign exchange market.

“The objective of the bill is to establish a new, more modern, more concise and legally secure framework for the foreign exchange and capital markets in Brazil and Brazilians abroad,” said the bank in a press release.

 

Via Xinhua

 

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UPDATE 1-Brazil’s industrial output posts biggest rise in over a year

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BRASILIA, Oct 1 (Reuters) – Industrial production in Brazil rose in August at its fastest pace in more than a year, official figures on Tuesday showed, a sign that Latin America’s largest economy may slowly be turning a corner after flirting with recession earlier in the year.

The recovery may be on an uneven footing, however, as intermediate goods production was the only one of four broad economic categories to grow, and only 10 of the 26 narrower sectors surveyed managed to expand in the month.

 

By Jamie McGeever via Reuters

 

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Brazil’s central bank takes ‘hands off’ approach to FX, focuses on growth

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BRASILIA (Reuters) – Seven months into the presidency of Roberto Campos Neto, Brazil’s central bank has implemented a quiet revolution in its monetary policy, with the former trader showing a willingness to tolerate a weaker currency.

In selling international reserves for the first time in 10 years to meet demand for dollars, while slashing interest rates to new lows to revive growth, the blue water between monetary and exchange rate policy is becoming ever clearer, analysts say.

 

By Jamie McGeever via Reuters

 

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JPMorgan Seeks a Piece of Brazil’s Flourishing Local Bond Sales

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(Bloomberg) — JPMorgan Chase & Co. is expanding its Brazil fixed-income business to include local bonds as issuance hits a record amid record-low interest rates and optimism about President Jair Bolsonaro’s economic reforms.

The bank started working with corporate clients earlier this year to manage their sales of bonds denominated in reais, according to Lucianna Lorenzo, the head of international and local debt capital markets at JPMorgan in Brazil.

 

By Pablo Gonzalez via Yahoo News

 

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How Brazil Could Tame Taxes Without Cutting Them

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Brazil is known for its complex business environment, and its byzantine tax system is a big reason why. According to the World Bank’s Doing Business rankings, Brazil is the world’s seventh-worst place to have to pay taxes, roughly on par with the Republic of Congo and Bolivia. President Jair Bolsonaro’s government, continuing to tackle some of the most vexing issues facing Latin America’s largest economy, hopes to simplify taxes for both business and ordinary citizens, a goal that eluded prior heads of state.

 

By Rachel Gamarski via Bloomberg

 

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Brazil wants more visibility into cryptocurrency trades

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Over the past few months, there has been some movement in the Brazilian political sphere which seems to be targeting increased transparency and auditability for cryptocurrency transactions.

New regulation has been approved that requires users to disclose more information about their cryptocurrency trades, and businesses are now required to register their holdings as well. Taxes have also been clarified and new measures are being discussed which could add additional taxes to any crypto-to-fiat trading.

By Pedro Febrero via Yahoo Finance

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Safe water from solar power in Brazil

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Twenty-one-year-old Brazilian Anna Luisa Baserra always wanted to be a scientist. From washing liquid to shampoo, no household item escaped the potential for becoming the next scientific experiment.

“I used to play with my cousins, trying to make chemical compounds from any liquids we could find, mixing them up and pretending to be professional scientists,” she recalls.

 

By Lis Mullin Bernhardt via UN Environment

 

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Brazil development bank BNDES mulls strategy for Petrobras, Vale asset sales -sources

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RIO DE JANEIRO, Sept 12 (Reuters) – Brazil’s development bank BNDES is mulling strategies to sell its stakes in listed companies such as state-controlled oil company Petrobras SA , two sources with knowledge of the matter said on Thursday.

As discussions are still ongoing, BNDES may start divestments only next year, the sources added.

By Rodrigo Viga Gaier via Yahoo Finance

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UPDATE 1-Brazil services activity in July rises at fastest pace this year

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BRASILIA, Sept 12 (Reuters) – Brazil’s services sector grew in July at its fastest pace this year, official figures showed on Thursday, another indication that Latin American’s largest economy started the third quarter on a solid footing.

A day after figures showed retail sales posting their biggest rise of the year in July, government statistics agency IBGE said service sector activity climbed 0.8% in the month and 1.8% on the year, both smashing forecasts.

 

By Jamie McGeever via Reuters

 

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UPDATE 2-Brazil, Mexico begin trade talks amid Bolsonaro push for export deals

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SAO PAULO, Sept 9 (Reuters) – Brazil and Mexico have begun talks on a free trade deal, a Brazilian official said on Monday, seeking to deepen commercial ties between the two largest economies in Latin America as trade tensions threaten to undermine global growth.

Marcos Troyjo, Brazil’s deputy economy minister for foreign trade, said Brazil had formally started free trade talks with Mexico, which recently ratified a new trade pact with the United States and Canada to replace the North American Free Trade Agreement (NAFTA).

 

By Ana Mano via Successful Farming

 

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Brazil Aug inflation limited, reinforcing rate cut bets

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BRASILIA, Sept 6 (Reuters) – Consumer price inflation in Brazil was well contained in August, as forecast, reinforcing expectations of deeper interest rate cuts by the central bank as it tries to fire up economic growth.

Prices measured by the benchmark IPCA index , rose 0.11% in August, government statistics agency IBGE said on Friday, in line with forecasts in a Reuters poll.

 

Via Nasdaq

 

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Trade balance surplus reaches $ 3,284 billion in August

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The Brazilian trade balance registered a surplus of US $ 3.284 billion in August, up 23.7% from the same month last year, which was US $ 2.775 billion. The data were released by the Special Secretariat of Foreign Trade and International Affairs of the Ministry of Economy (Secint / ME) on Monday (02).

“It is the largest surplus for August since 2017,” said Undersecretary of Intelligence and Foreign Trade Statistics, Herlon Brandão, at a press conference held at the Ministry of Economy, in Brasilia (DF), to comment on the numbers. From January to August, the surplus reaches US $ 31.759 billion.

 

Via DATAGRO

 

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Brazil beats expectations with 0.4 per cent expansion

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Brazil avoided falling into recession on Thursday with the release of new economic data showing South America’s largest economy grew by 0.4 per cent quarter-on-quarter in the three months to June, a better than expected performance. The figures showed that Brazil’s economy moved back into expansion after shrinking by 0.2 per cent in the first quarter, and its performance was better than analysts had expected; economists polled by Reuters had forecast 0.2 per cent growth.

The figures showed that Brazil’s economy moved back into expansion after shrinking by 0.2 per cent in the first quarter, and its performance was better than analysts had expected; economists polled by Reuters had forecast 0.2 per cent growth.

 

By Bryan Harris and Andres Schipani via Financial Times

 

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