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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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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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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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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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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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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 (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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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

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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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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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’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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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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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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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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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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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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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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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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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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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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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

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 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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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’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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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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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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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 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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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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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.

 

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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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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“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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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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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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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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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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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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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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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 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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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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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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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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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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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 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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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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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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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’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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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’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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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’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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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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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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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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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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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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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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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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(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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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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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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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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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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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 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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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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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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(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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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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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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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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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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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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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 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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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’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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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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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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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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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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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 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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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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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 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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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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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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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, 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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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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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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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’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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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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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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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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(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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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’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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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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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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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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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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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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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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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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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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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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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’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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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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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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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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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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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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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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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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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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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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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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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 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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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 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

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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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’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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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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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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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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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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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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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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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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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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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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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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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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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 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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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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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 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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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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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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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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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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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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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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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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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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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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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 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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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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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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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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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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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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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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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 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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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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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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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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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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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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GUELPH, OntarioFeb. 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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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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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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(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’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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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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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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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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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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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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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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(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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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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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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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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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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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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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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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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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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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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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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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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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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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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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 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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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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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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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 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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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(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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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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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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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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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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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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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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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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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 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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SAO PAULO/RIO DE JANEIRO (Reuters) – Brazil’s planned privatization of eight Petroleo Brasileiro SA (PETR4.SA) refineries has lured several of the world’s largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said.

Around 20 companies have signed non-disclosure agreements granting them access to the refineries’ data and signaling that they are considering a bid, the sources added, speaking on condition of anonymity to disclose private details of the sale.

 

By Tatiana Bautzer and Rodrigo Viga Gaier via Reuters

 

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SAO PAULO, Aug 26 (Reuters) – Brazilian power companies are raising a record amount of debt in local markets this year to finance construction of generation assets and transmission lines.

Tax-exempt local infrastructure bonds have been the main instrument to finance power investment in the country. Power companies have issued 12 billion reais ($2.9 billion) of the local bonds in the first seven months of the year, 83% of the total amount issued across all industries.

 

By Luciano Costa via Reuters

 

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Brazil is readying a plan to accelerate the sale of state-controlled assets as well as partnerships with private companies, as part of President Jair Bolsonaro’s push to shrink the public sector and spark investments.

The federal government will put state development bank BNDES in charge of organizing and paying for feasibility studies, which are mandatory for asset sales and auctions and are crucial for their success. BNDES will also be able to hire outside consulting companies based on technical capacity and not just price.

 

By Simone Preissler Iglesias via Bloomberg

 

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There are 332 million cars on the road in China, more than anywhere in the world. Most run on pure petrol, but from next year Chinese fuel companies will add 10% ethanol, a move that could have far reaching implications for the consumption of fossil fuels.

Brazil’s biofuel industry is the world’s second largest behind the US. In recent years it has suffered from fuel price shocks resulting from shifts in government policy, but it has been buoyed by the enormous potential of the Chinese market.

 

By Sarita Reed and Vinicius Fontana via China Dialogue

 

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When U.S. Commerce Secretary Wilbur Ross toured Latin America, President Trump hinted to reporters of his main mission: “We’re going to work on a free trade agreement with Brazil.”

Trade agreements that reduce barriers for the exchange of goods, services, and terabytes have the ability to raise incomes and boost opportunities for all countries involved, if they play by the rules.

 

By Philip Thompson via Washington Examiner

 

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Brazilian state lender Banco do Brasil SA (BBAS3.SA) is readying a secondary share offering that may raise up to 7.9 billion reais ($2 billion), three people familiar with the matter said.

One of the sources, who spoke on condition of anonymity because the transaction has not been announced, said the banks are planning to price the offering by the end of September.

The investment banking units of Itau Unibanco Holding SA (ITUB4.SA), XP Investmentos SA, Caixa Economica Federal, Credit Suisse Group AG (CSGN.S), JPMorgan Chase & Co (JPM.N) and Banco do Brasil have been hired to manage the deal, sources said.

State bank Caixa Economica Federal has said it is looking to sell a 2.4% stake in Banco do Brasil held by a workers severance fund, according to a Tuesday securities filing. The transaction could raise nearly 3.1 billion reais for the FI-FGTS fund, which Caixa manages, based on Monday’s closing share price.

Reporting by Carolina Mandl and Tatiana Bautzer; editing by Jonathan Oatis via Reuters

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Brazil’s central bank on Wednesday delivered its strongest message yet that it’s poised to pump more stimulus into an ailing economy after lowering its key rate by a half percentage point.

The bank’s board, led by its President Roberto Campos Neto, cut the benchmark Selic to a record low of 6%, as forecast by 18 of 45 economists surveyed by Bloomberg. The others expected a smaller reduction or even no cut at all. While stating that their next move will depend on activity and inflation data, policy makers signaled that forecasts for below-target consumer prices in 2020 leave the door open to more easing.

By Mario Sergio Lima via Bloomberg

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WASHINGTON/BRASILIA/SAO PAULO (Reuters) – President Donald Trump on Tuesday said he will pursue a U.S. trade agreement with Brazil, suggesting a friendly relationship with President Jair Bolsonaro could help lower trade barriers between the two biggest economies in the Americas.

“We’re going to work on a free trade agreement with Brazil,” Trump told reporters at the White House, without giving details.

 

By Alexandra Alper, Marcela Ayres and Marcelo Rochabrun

 

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Fortaleza, the fifth-largest city in Brazil with a population of about 2.7 million, is set to accept bitcoin (BTC) payments for public transportation by the end of this year.

Local news outlet O Povo reported the news late last week, saying that the Ceara State Co-operative Autonomous Passenger Co-operative (Cootraps) will provide Fortaleza citizens the options to buy bus tickets using bitcoin, credit and debit cards, in addition to the current cash system.

By Yogita Khatri via Yahoo Finance

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Brazil’s economic recovery after the 2015−2016 recession remains sluggish. Real per capita growth has fallen by 8 percent since the beginning of the recession in 2014, and poverty and inequality are on the rise. While the unemployment rate did fall this year, it is still high compared to pre-crisis levels.

To boost growth and create more jobs, Brazil needs to vigorously pursue pension and tax reforms, trade openness, investment in infrastructure, and key financial reforms, the IMF stated in its latest annual economic assessment.

 

Via International Monetary Fund

 

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BRASILIA (Reuters) – New measures unveiled by the Brazilian government on Wednesday allowing employees to access cash from worker guarantee funds will be worth 0.35 percentage points to gross domestic product over the next 12 months, the Economy Ministry said on Wednesday.

Freeing up 42 billion reais ($10.6 billion) from the “FGTS” severance fund and more cash from the social contribution fund known as “PIS/Pasep” will also create 3 million jobs and increase GDP per capita by 2.5 percentage points over 10 years, the Ministry added.

 

By Marcela Ayres and Lisandra Paraguassu via Reuters

 

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The Brazilian trade balance registered a surplus of US $ 409 million in the third week of July, according to a survey released on Monday (22) by the Ministry of Economy. The positive balance is the result of US $ 4.829 billion in exports and US $ 4.420 billion in imports, according to data from the Foreign Trade Secretariat.

In the month, exports total US $ 13.550 billion and imports reach US $ 11.367 billion, with a positive balance of US $ 2.182 billion. Year-to-date exports totaled $ 123.392 billion, with imports of $ 95.134 billion and a positive balance of $ 28.258 billion.

 

Via DATAGRO

 

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Renewables (excluding hydropower) are expected to reach 60.8GW capacity in 2030 registering a compound annual growth rate (CAGR) of 5.4%, according to analysts GlobalData.

The company’s latest report ‘Brazil Power Market Outlook to 2030, Update 2019 – Market Trends, Regulations, and Competitive Landscape’ reveals that, installed renewable capacity in Brazil increased from 2.9 Gigawatt (GW) in 2000 to 31.1GW in 2018, at a CAGR of 14%.

 

By Global Data Energy via Power Technology

 

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Brazilian stocks have extended their year-to-date gain to about 20% on renewed optimism that Latin America’s largest economy will finally overhaul its heavily indebted social security system. But the rally that has pushed the market to record highs still may have some juice left.

The benchmark Ibovespa index may climb 11% from current levels to about 115,000 by the end of 2019, according to the average forecast of 10 strategists surveyed by Bloomberg. Their targets range from 105,000 to 123,000, implying an increase of as much as 18%. That would mark the fourth year of double-digit gains for Brazilian stocks.

 

By Vinicius Andrade via Bloomberg

 

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Brazil is on a tear lately. Its Bovespa Index is the beating all of the emerging markets. It’s besting China. It’s besting Trump’s super-duper stock market here at home. It’s all thanks to a once unpopular pension reform bill, which saw tens of thousands rally late last month in support of the new president’s push to overhaul Brazil’s teetering public pension system.

Over the last month, the iShares MSCI Brazil (EWZ) has gained 7.5% versus just 2.24% for the benchmark MSCI Emerging Markets Index. If you had put $10,000 in that Brazil ETF last Fourth of July weekend you’d have $3,700 extra for summer play money as your 12-month gain.

 

By Kenneth Rapoza via Forbes

 

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The Brazilian diplomatic academy, the Rio Branco Institute, will now require that candidates have knowledge of cryptocurrencies and blockchain, Cointelegraph Brazil reported on July 8.

The Rio Branco Institute — established in 1945 and offering two advancement courses for diplomats — has published the 2019 edict for the selection of new diplomats in Brazil where it included the requirement that candidates know about blockchain and digital currencies.

 

By Ana Alexandre via Cointelegraph

 

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The announcement of the closure of the Mercosur-European Union agreement will provoke the emergence of a “negotiating appetite” from other nations in favor of investments in Brazil or in association with the South American bloc, the Brazilian chancellor Ernesto Araújo, informs the “Agência Brasil”.

“We are very close to an agreement with the EFTA (Free Trade Association composed of Switzerland, Norway, Iceland and Liechtenstein) and with Canada, perhaps in the second half of 2019,” said Araújo. According to him, the closure of a Mercosur agreement with Singapore and South Korea is also close.

 

Via DATAGRO

 

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A new world record low price for solar power generation has been achieved in Brazil, where the government’s latest renewables auction saw contracts for six solar PV projects awarded at an average of just 1.65 cents per kilowatt hour.

Brazil’s regulator Agencia Nacional de Energía Eléctrica (ANEEL) announced the latest auction results on Friday, confirming a total of 401.6MW of electricity capacity has been contracted across 15 projects with supply slated to start in January 2023. The successful bids include five hydroelectric plants, one biomass thermal facility, and three wind farms.

 

By Michael Holder via BusinessGreen

 

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WASHINGTON- U.S. Transportation Secretary Elaine L. Chao and Brazilian Minister of Infrastructure Tarcísio Gomes de Freitas today signed a Memorandum of Cooperation (Memorandum) that will strengthen collaboration on transportation infrastructure investment strategies and on key transportation priorities in technology and innovation between the U.S. and Brazil.

“The Department is committed to strengthening our longstanding cooperative relationship with Brazil by sharing data and best practices to build safer and smarter transportation systems,” said Secretary Elaine L. Chao.

 

Via Transportation.gov

 

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The promotion of the green economy – which reconciles development, environment and poverty reduction – involves the articulation between governments, civil society and companies. This was the conclusion of the participants of the 1st Regional Ministerial Conference of the Americas on Green Economy, which closed on Wednesday (26) in Fortaleza, after two days of discussions and talks, reports Agência Brasil.

Following the closure of the discussions, the countries of Latin America and the Caribbean adopted a joint document with commitments to promote sustainable development on the continent. The final text will only be published next week, but the draft has 22 suggestions.

 

Via DATAGRO

 

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Brazil was the standout in JPMorgan’s re-rating of Latin American equity markets as the firm raised its year-end price target for the Ibovespa index while lowering forecasts for the rest of the region.

Strategist Emy Shayo increased the 2019 target for the Brazilian benchmark to 108,000 from 105,900, implying about a 6% increase from current levels. The more optimistic projection is based on expectations that approval of social security reform will lead to more growth and lower risk. It comes as Brazil’s weaker-than-expected economic recovery has been leading to downward revisions to earnings estimates.
By Vinicius Andrade via Bloomberg

Mobile banking is becoming increasingly popular in Brazil, with more consumers making use of mobile banking services for the execution of daily financial transactions.

The number of transactions performed by Brazilian citizens on their mobile phones increased significantly in 2018. Compared to 2017, mobile banking use increased by 24 percent in 2018. While mobile banking is mostly used to check banking statements and balances by many people, the number of other transactions such as money transfers went up by a factor of almost 80% in Brazil. This reveals that Brazilian citizens have become more dependent on their mobile phones for the execution of their financial transactions.

 

By Ali Raza via LearnBonds

 

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Brazil held its benchmark interest rate at a record low and signaled it can cut borrowing costs to help a frail economy once a key austerity measure advances further in Congress.

The bank’s board, led by its President Roberto Campos Neto, on Wednesday
kept the Selic unchanged at 6.50% in a decision expected by all but one of the 39 economists in a Bloomberg survey. Officials have held borrowing costs steady for over a year.

 

By Mario Sergio Lima via Bloomberg

 

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(Bloomberg) — Brazil’s equity benchmark Ibovespa index closed above the 100,000 mark for the first time on record as dovish signals from the Federal Reserve added support to global asset prices, and potentially signaling increased odds for rate cuts in Brazil.

The index rose 0.9% to 100,303 on Wednesday, pushing gains this year to 14%.

By Vinicius Andrade via Yahoo Finance

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[SÃO PAULO] Measuring the height of Brazil’s towering rainforests can be a tall order. But an international team of researchers say they are working together to turn unmanned aerial vehicles (UAVs), or drones, into efficient, low-cost data collectors that can monitor the progress of forest restoration.

The team developed a drone equipped with three-dimensional laser scanning and hyperspectral imaging systems capable of producing high-resolution maps and collecting hundreds of images at different wavelengths for a given area.

 

By Rodrigo de Oliveira Andrade via SciDev.Net

 

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BRASILIA, June 13 (Reuters) – Services activity in Brazil rebounded in April from a sharp fall in the previous month, government statistics agency IBGE said on Thursday, marking the first rise this year, although growth was slower than economists had expected.

Activity also shrank more than forecast on an annual basis, suggesting the economy started the second quarter on a weak note, having contracted in the first quarter for the first time in more than two years.

 

By Jamie McGeever via Reuters

 

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BRASILIA (Reuters) – Brazil’s Supreme Court ruled on Thursday that state-run firms do not need congressional approval to sell their subsidiaries, a major victory for the government of President Jair Bolsonaro and state-run oil firm Petrobras.

Also on Thursday, Supreme Court Justice Edson Fachin, who ruled in May to suspend the $8.6 billion sale of Petrobras’ TAG pipeline unit to France’s Engie SA, reversed his decision in light of the full court’s ruling, allowing Petroleo Brasileiro SA, as the firm is formally known, to go ahead with the divestment.

 

By Ricardo Brito via Reuters

 

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The EU and the South American trade bloc Mercosur are very close to finalizing their bilateral trade agreement, the presidents of Brazil and Argentina said Thursday.

“We’re on the verge of signing an agreement between Mercosur and the European Union,” Brazilian President Jair Bolsonaro said during a press conference with his Argentine counterpart Mauricio Macri in Buenos Aires. “We are all going to win with this: Argentina, Brazil and the other countries of this bloc, [Paraguay and Uruguay],” he added.

 

By Hans von der Burchard via Politico

 

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Betting on Brazil’s central bank to further slash the benchmark interest rate is the best way to make money in the nation’s assets right now, according to hedge fund Truxt Investimentos.

“With inflation under control and slow growth, our preferred trade right now is to receive rates in Brazil,” said Mariana Guarino, a portfolio manager at Truxt, which has 10.6 billion reais ($2.7 billion) in assets under management. “Once pension reform is approved, the tail risk of a quick fiscal deterioration will be removed, so Brazil’s central bank will have room to cut rates.”

 

By Vinicius Andrade via Bloomberg

 

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The President of the Chamber of Deputies of Brazil has ordered to establish a commission to consider cryptocurrency regulation in the country, Cointelegraph Brasil reported on May 31.

The Chamber of Deputies of Brazil is a federal legislative body and the lower house of the National Congress of Brazil, and consists of representatives of the states elected every four years. The Chamber discusses and approves proposals for economic and social areas such as educationhealth, transport, and housing.

 

By Ana Alexandre via Cointelegraph

 

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SAO PAULO (Reuters) – The builders of a new power transmission line to the northern Brazilian state of Roraima have pledged to deploy 200 inspectors to reduce the environmental impact on an indigenous reservation where they will erect 250 pylons, according to an environmental assessment document seen by Reuters.

It said they also had committed to keeping secret any geological information on the discovery of mineral resources to avoid drawing illegal mining interests that have long set their sights on the land of the Waimiri Atroari tribe.

 

By Luciano Costa via Reuters

 

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Brazil’s move towards cryptocurrency regulation took a step closer this month as the government in Brasilia agreed and published ‘instruction 1888’.

The instruction passes new rules that come into force on August 1, meaning that individuals, legal entities and brokerage firms that carry out operations with crypto will have to inform the treasury of every detail of their transactions.

By Gabriel Quintanilha via Yahoo Finance

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The state of Paraná will have the first energy plant in Brazil generated from “waste” – that is, a combination of organic waste and sewage sludge. The plant will use biodigestion technology: from this input, it will produce biogas which, in its turn, will be converted into electric power.

The project aims to reuse 1,000 cubic meters of sewage sludge and 300 tons of organic waste daily – a volume which would be disposed into the environment. It’s also planned to convert organic waste into biofertilizers and recycle waste plastic to produce bags.

 

Via Bluevision Braskem

 

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HOUSTON (Reuters) – Brazil expects to collect at least $47 billion in signing bonuses this year from three upcoming offshore oil auctions set for October and November, an official said on Monday.

An Oct. 27 sale of production rights in Brazil’s so-called transfer-of-rights area – one of the world’s most promising offshore oil areas off the coast of southeastern Brazil – could draw $27 billion (106 billion reais) in signing bonuses, said Marcio Felix, executive secretary for oil, gas and biofuel at Brazil’s Ministry of Mines and Energy, at a Houston energy conference.

 

By Collin Eaton via Reuters

 

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May 2 (Renewables Now) – Spanish energy company Iberdrola (BME:IBE) informed on Tuesday that shareholders of its Brazilian unit Neoenergia SA had voted to approve the company’s initial public offering (IPO) of shares.

Iberdrola, which holds a 52.45% stake in Neoenergia, said ahead of the vote this Monday that the listing would take place in the first half of the year.

 

Via Renewables Now

 

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Rio de Janeiro — Brazil’s Petrobras plans to sell eight refineries, accounting for nearly half the country’s refining capacity, amid an aggressive move by the company’s new management to ramp up asset sales and open the domestic refined product market.

 

“The new directives for asset sales, with a focus on the refining and distribution segments that includes the full sale of PUDSA, a service-station network in Uruguay; eight refineries totaling 1.1 million b/d of refining capacity; and the sale of an additional stake in Petrobras Distribuidora, or BR,” the company said in a filing made with stock regulators Friday.

 

By Jeff Fick via S&P Global Platts

 

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RIO DE JANEIRO, BRAZIL – The man in charge of Brazilian sugar giant Cosan Ltd. has little interest in talking about the sweetener. These days, he’s all about railways, writes Bloomberg in its latest report. Cosan is controlled by 69-year-old Rubens Ometto, one of the sixty most powerful men in Brazil.

 

The business that gave life to Cosan — the world’s biggest sugar-cane operation — has been stuck in the doldrums following years of depressed global prices and government policies that curbed the expansion of cane ethanol in Brazil. In stark contrast, the commodity powerhouse is ready to invest “tens of billions” in a plan that will reshape how the nation’s crops get transported, Chief Executive Officer Marcos Lutz said.

 

Via The Rio Times

 

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Brazil’s coastline of some 3,000 nautical miles includes several large cities in a layout that makes Brazil the ideal location to develop, manufacture and operate maritime transportation technology that could also have international market potential.

While Russia is internationally recognized in high-speed maritime transportation technology courtesy of their construction and demonstration of the Caspian Sea Monster ground-effect plane, Russia is also at a disadvantage in terms of testing, demonstrating, domestically operating and improving a commercial version of such technology. Much of Russia’s population lives at western inland locations and not along Russia’s coast. A mega-size commercial freight transport ground effect vehicle might optimally be developed in a nation with an extensive coastline that includes multiple large cities spread along that coastline. The vehicle needs to be proven in domestic coastal transportation service.

 

By Harry Valentine via The Maritime Executive

 

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Investment worth $621 million will be provided by BRICS New Development Bank (NDB) to Brazil, according to the Institute for Applied Economic Research (Ipea).

It said the bank has approved Brazilian projects on renewable energy, road building, railway construction, sanitation, telecommunications and an oil refinery. NDB has also plans to launch its Americas Regional Office in Brazil.

 

Via RT

 

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(Reuters) – Brazilian Economy Minister Paulo Guedes said on Wednesday he is “optimistic” that Congress will pass a pension reform bill that will generate savings of 1 trillion reais ($261.68 billion) over 10 years, in line with the government’s ambitious proposal.

 

Guedes is also confident Brazil will exceed its 2019 privatization goal of raising $20 billion from the sale of public assets by as much as 40 percent, he told a conference in New York, without giving any detail on which sectors or assets.

 

By Jamie McGeever via Reuters

 

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Miami real estate agents have one reason to be happy – Brazilian buyers are back as a dominant buyer pool in South Florida, amid an increase in foreign investment.

Political turmoil in Brazil and a strong dollar have kept buyers away from South Florida in recent years – until now. Brazil ranked as the top country buying South Florida homes in 2018, according to a new report from the Miami Association of Realtors.

 

By Katherine Kallergis via The Real Deal

 

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All the tensions that have rattled Brazil traders over the past few weeks have done nothing to shake Teresa Barger’s optimism over the country.

The chief executive officer and co-founder of the $2.6 billion Cartica Management LLC hedge fund is sticking to her “very bullish” views on Brazil, confident that growth in Latin America’s largest economy will start to pick up and that a planned overhaul of the nation’s pension system will be approved. That means she avoids watching the developments too closely, sidestepping the jitters that come with it.

 

By Aline Oyamada via Bloomberg

 

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BRASILIA, April 3 (Reuters) – Growth in Brazilian economic activity picked up to its strongest in over a year in March, driven by solid increases in domestic new orders across both the manufacturing and services sectors, IHS Markit Insight said on Wednesday.

The closely-watched purchasing managers indices (PMIs) for March, often seen as a leading indicator of overall economic growth, showed the sixth straight month of service sector growth and ninth consecutive month of rising manufacturing activity.

 

By Jamie McGeever via Nasdaq

 

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SAO PAULO/BRASILIA, March 28 (Reuters) – Brazilian logistics company Rumo SA on Thursday won an auction to build and operate a 1,537-kilometer freight railway for 30 years, with a bid of 2.7 billion reais ($694 million), according to the government.

Rumo Chief Executive Julio Fontana said that the Norte-Sul Railway would be used to transport primarily agricultural commodities, but would also ship some fuel and bauxite. The railway could be operational within 2 years, Fontana said.

 

By Aluisio Alves and Jake Spring

 

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China is open to negotiate trade and investment agreements with Brazil, including a double tax treaty, as part of a broader move to engage the Latin American commodities giant, Beijing’s new ambassador in Brasilia said.

“We’re willing to study, together with the Brazilian side, measures to facilitate and liberate trade and investments, negotiate agreements to protect investments and avoid double taxation,” Ambassador Yang Wanming wrote in response to questions from Bloomberg.

 

By Samy Adghirni via Bloomberg

 

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Travelers are scrambling to get plane tickets to Brazil now that the country has erased the need for a visa.

Australian, Canadian, Japanese and American tourists will no longer need a visa starting June 17, 2019, and a new Kayak survey revealed searches for flights have shown double-digit increases. The highest increase was registered in Australia (36 percent), followed by the United States (31 percent), Canada (19 percent) and Japan (4 percent).

 

By Janeen Christoff via Travel Pulse

 

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Brazil has just overtaken China in terms of consumer sentiment, as the world’s second-largest economy slows down and spending intention on big ticket items decline, according to a Credit Suisse survey released Monday.

Speaking to CNBC at the Credit Suisse Asian Investment Conference in Hong Kong on Monday, Eugene Klerk, the bank’s managing director of global thematic research said China showed weaker readings in spending intentions compared to Brazil and India.

 

By Shirley Tay via CNBC

 

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BRASILIA (Reuters) – Brazil Mines and Energy Minister Bento Albuquerque said on Thursday that the government will present a program for overhauling the natural gas sector by June, a move aimed at lowering energy costs in the country.

The program will be called the “New Gas Market” and is separate from the “Gas for Growth” program pursued under previous President Michel Temer, Albuquerque told reporters in a briefing.

 

By Jake Spring via Reuters

 

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Brazil’s central bank held its benchmark interest rate at an all-time low in the first meeting under its new boss and signaled it could lower borrowing costs in the future if growth continues to disappoint.

The bank’s board on Wednesday kept the Selic rate unchanged at 6.50 percent for the eighth straight meeting in an announcement expected by all 39 economists in a Bloomberg survey. It was the first monetary policy decision under Roberto Campos Neto, who was sworn in as head of the monetary authority earlier this month.

Following the impeachment of President Dilma Rousseff in mid-2016 and the inauguration of President Michel Temer, who had been Vice President, the new team responsible for Brazil’s international economic agenda worked diligently for greater integration of our country into the world economy. That has happened in many areas, including relations with international organizations, the domestic framework for officially supported export credits and trade policy.

With regard to relations with international organizations, the team has contributed to deepen Brazil´s participation in the Organisation for Economic Co-operation and Development (OECD), the mandate of which focuses on the discussion and international consolidation of best practices in public policies. 

 

By Marcello Estevão via International Banker

 

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President Jair Bolsonaro’s market friendly agenda faces a key test on Friday with an airport auction that will serve as a gauge of investors’ appetite for the administration’s massive privatization plan.

The tender is expected to generate 3.5 billion reais ($910 million) in investments in the next 30 years. That figure includes a minimum initial fee of 219 million reais and a minimum investment of 1.48 billion reais in the next five years –starting on the sixth year of the license, operators will also pay the government a percentage of their gross revenue.

 

By Vinicius Andrade and Fabiola Moura via Bloomberg

 

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What makes some oil plays more valuable than others? The answer: big discoveries in excellent reservoirs that are cheap to exploit. Few places on earth do all three. Brazil does, as I was reminded on a trip to Rio last month. Its pre-salt Santos basin fields, such as Lula and Libra, have these attributes in abundance.

The reservoirs in these giants lie at the “Goldilocks” depth – not too expensive to drill, but deep enough for oil to flow freely to surface. Individual wells in the exceptional pre-salt carbonate reservoirs can produce up to 50,000 barrels in a single day – a good Permian fracked well takes two months to do that. Many producing wells are choked because the subsea flow lines or platform just can’t cope with the sheer volumes. Nice work if you can get it.

 

By Simon Flowers and Wood Mackenzie via Forbes

 

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Brazil’s central bank would be better equipped to keep inflation low if its autonomy to decide on monetary policy were guaranteed by law, the bank’s new chief said as he was sworn in on Wednesday.

“It’s important to keep the recent gains obtained in monetary policy,” Roberto Campos Neto said, stressing that increased central bank credibility has been crucial for reining in inflation. “We believe that an autonomous central bank would be better prepared to consolidate these recent gains.”

 

By Rachel Gamarski via Bloomberg

 

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27 February 2019, Panama City, Panama – Brazil just became the first country to receive financial resources from the Green Climate Fund (GCF) for having successfully reduced greenhouse gas (GHG) emissions from deforestation in the past.

The payment from the GCF is based on results achieved by Brazil in the Amazon biome between 2014-2015, and which have been reported and validated by experts from the United Nations Framework Convention on Climate Change (UNFCCC). This is the essence of REDD+: a mechanism to reward countries for having reduced their deforestation.

 

By UNDP

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BRASILIA, Feb 26 (Reuters) – Brazil’s Senate confirmed Roberto Campos Neto as central bank governor on Tuesday, after he stressed that controlling inflation and reining in public spending were critical to supporting economic growth.

Much work must still be done to secure Brazil’s economic recovery, Campos Neto told the Senate’s economic committee at his confirmation hearing.

 

By Jamie McGeever via Reuters

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Minister Bento Albuquerque defended the electric car using ethanol or natural gas as a source of energy during a meeting organized by the ANP, the National Agency of Petroleum, Natural Gas and Biofuels. According to him, there are significant competitive advantages due to the already being technology in development by some assemblers, in addition to reconciling the efficiency of the electric motors and the national vocation for the production of biofuels. He also stressed the importance of solving the problems associated with the recharging time of the batteries. “Vehicular electrification technologies should not only consider the battery as the only trajectory to be followed, but as a trend of decarbonization on our planet,” says Beto Albuquerque – Minister of Mines and Energy.

By DATAGRO

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Trade activity grew 0.9% in January compared to December 2018, according to the latest Serasa Experian Trade Activity Index numbers released on Tuesday (January 19). The highlights of the month were the construction materials industry, with 1.7% growth, and the cars, motorcycles & parts sector, which grew by 0.5%. On the other hand, the textiles, clothing, footwear and accessories category had the largest drop, at 5.4%, followed by supermarkets, hypermarkets, food and beverages (-1.4%); furniture, electronics and computers (-2.3%) and fuels and lubricants (-1.8%).

By BrazilGovNews

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When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market.

The mammoth facility — long and wide enough to fit an American football field — is the first of four similar platforms to begin pumping crude this year, lifting Brazilian output by roughly 365,000 barrels a day, its largest annual increase in at least 20 years, International Energy Agency estimates show. A second platform, P-76, has also started production, according to a regulatory filing Wednesday.

By Sabrina Valle and Javier Blas via Bloomberg

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The Minister of Mines and Energy, Bento Albuquerque, signed during the first 45 days of the government all grants to build 53 projects from the New Energy Auction A-6, which was held in August 2018. The projects total R $ 6, 8 billion in investments and 1,572,356 kW of final power. More than eight thousand direct jobs will be generated during the construction phase of the plants.

By DATAGRO

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Agribusiness continues to be strong and farmers’ capitalization in general is very good, says Pedro Estevão Bastos, president of the Chamber of Agricultural Machinery and Implements (CSMIA), of the Brazilian Association of Machinery and Equipment Industry (Abimaq), on the perspective of the 10% increase in sales in the segment in 2019.

However, Bastos warns that such variables as exchange rate, credit availability, crop productivity and the consequences of the China-US trade war, which influence soybean prices, may interfere with the performance of the agricultural sector this year. “We also need to know how the new government’s agricultural policies will be in order to have the best forecast in the market.”

By DATAGRO

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Feb 12 (Reuters) - Most Latin American stock markets rose on Tuesday, buoyed by hopes of a U.S.-China trade deal as they more than recovered ground lost during the previous session, while
resurgent risk appetite strengthened Latin American currencies against a softer dollar.

U.S. President Donald Trump said he expects to meet Chinese President Xi Jinping to close a deal on trade at some point, while officials from both countries expressed hopes on Monday a
new round of talks would help improve strained trade ties between the world's top two economies.

By Aaron Saldanha via Reuters

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Changes in economic policy and trade relations should boost sales of Brazilian products abroad. Experts consulted by the Central Bank are betting that Brazil may reach almost US$ 300 billion in exports in the coming years. The estimate is in the Market Expectations System, which gathers daily forecast surveys of the Brazilian economy from about 130 banks, fund managers and other institutions. The numbers were released on February 1.

This year, foreign sales are expected to total US$ 249.05 billion, according to market forecasts. In 2023, the estimated value is US$ 295 billion. If predictions are confirmed, total growth in the period will be of 18.47%.

By BrazilGovNews

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BRASILIA, Feb 12 (Reuters) – Inflation risks in Brazil have moderated and threats to domestic and global economic growth have intensified, minutes of the Brazilian central bank’s last policy meeting showed on Tuesday.

Policymakers also noted that risks associated with U.S. Federal Reserve policy tightening have diminished, according to minutes of the Feb. 5-6 meeting, where they unanimously agreed to keep the benchmark Selic rate unchanged at a record low 6.50 percent.

By Jamie McGeever via Nasdaq

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Brazil’s economy minister has vowed to end years of failed state interventions as Latin America’s largest economy embarks on sweeping free-market reforms under President Jair Bolsonaro.

In a wide-ranging interview, Paulo Guedes, the former fund manager chosen by the rightwing president to rekindle the Brazilian economy after the worst recession in its history, said a pension overhaul would save R$1tn ($350bn) over 10 years and be approved “within five months”.

By John Paul Rathbone and Andres Schipani via Financial Times

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Privatization is yesterday’s political polemics. The market wants Brazilians to work more and earn less from government pension plans. Privatization is old school. Boring pension reform, that’s the new sexy. When doubts arise about Brazilian pension reform, the market tanks like it did on Wednesday.

“It’s an overreaction,” says Michael Reynal, a fund manager for Sophus Capital. Markets were down across the board today, but Brazil underperformed the MSCI Emerging Markets by over 300 basis points. ”We are not looking to sell Brazil, but there is some confusion over what proposal we are going to get,” he says, naming outgoing president Michel Temer’s watered-down but acceptable pension reform, or that of the new president, Jair Bolsonaro.

By Kenneth Rapoza via Forbes

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When Brazil’s central bank meets on Wednesday, its outgoing President Ilan Goldfajn will leave the door open for his successor to deliver an unprecedented borrowing cost cut at his first policy meeting.

Since at least 1996, when the country’s current monetary policy board was created, no incoming bank governor has ever cut the benchmark Selic in his first meeting. Roberto Campos Neto, who was appointed by President Jair Bolsonaro and will face his Senate confirmation hearing as soon as this month, could be the first. The chances are so good that when Campos Neto attended an event in Rio de Janeiro last month, several former central bank chiefs joked how it was going to be smooth sailing for him and how he was lucky.

By Raymond Colitt and Mario Sergio Lima via Bloomberg

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BRASILIA (Reuters) – Brazil’s government has opened discussions with congressional leaders, state governors and mayors on a pension reform bill that would set the minimum retirement age for men and women at 65, a government official said on Monday.

The proposal is one of several under consideration, as President Jair Bolsonaro looks to get the legislative ball rolling on his ambitious plans to overhaul Brazil’s creaking social security system.

By Reuters

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The Brazilian productive sector began the year optimistic with the country’s economy. The Industry Confidence Index (ICI), measured by the Getulio Vargas Foundation (FGV), reached the highest level since August last year. The rate reached 98.2 points in January, a 2.6-point increase in comparison with December.

By BrazilGovNews

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Judging by the reaction of financial markets, the Brazilian economy started the year at high speed. The real is among the world’s best-performing currencies so far in 2019 and the main stock market index Ibovespa hit a string of record highs leading into last week, when it broke the 97,000-point mark. Future interest rates have fallen sharply.

Foreign investors are buying in as well. The premium demanded as compensation for the inherent risk of buying Brazilian bonds, the Credit Default Swap rate (CDS), that in September was above 310 basis points has fallen to around 180 basis points, a range close to that of emerging countries with an investment-grade seal.

By Otaviano Canuto

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Brazilian President Jair Bolsonaro’s government wants to sell at least $20 billion in assets of state-owned companies this year including parts of Petrobras and Banco do Brasil, the country’s secretary of privatization said on Tuesday.

Salim Mattar said the government wants state-controlled oil company Petroleo Brasileiro SA and lenders Banco do Brasil SA and Caixa Economica Federal to sell most of their subsidiaries within four years.

Mattar, a former businessman, estimated that Brazil could raise up to 800 billion reais ($214 billion) by selling state-owned companies. The privatizations, along with cuts in spending on pensions and social security, are key to Economy Minister Paulo Guedes’s plan to reduce public debt, now equivalent to 77 percent of gross domestic product.

“If we reduce the debt, the amount of interest we save annually would allow us to increase expenditures in education and health,” Mattar said.

By Tatiana Bautzer for Reuters

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DAVOS, Switzerland (Reuters) – An overhaul of Brazil’s pension system could save up to 1.3 trillion reais ($345 billion) over the next decade, Economy Minister Paulo Guedes told Reuters on Wednesday, aiming as much as two-thirds higher than the previous government’s failed effort.

In an interview during the World Economic Forum at the Swiss ski resort of Davos, Guedes underscored the enormous scale of a pension reform that investors consider the cornerstone of new right-wing President Jair Bolsonaro’s sweeping economic agenda.

By Mark Bendeich via Reuters

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BRASILIA, Jan 22 (Reuters) – Brazil will add the Trans-Amazonian Highway to the list of projects for privatization, its infrastructure minister said on Tuesday, seeking new investment to pave a roadway that has already been blamed for deforestation.

The government also plans to sell to investors a concession to run BR-163, a key northern route for shipping Brazilian grains, adding it along with the Trans-Amazonian to a priority list for privatization at a meeting next month, Infrastructure Minister Tarcisio Freitas told Reuters in an interview.

By Jake Spring via CNBC

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Sales of Brazilian soybeans for the 2017/18 harvest reached 99% of production expected until the last day of January 18. The percentage is above the 94% recorded in the same period of the previous harvest and is also higher than the previous record of 98% observed in 2013 and 2015, highlight data from the DATAGRO Consulting.

“In addition to the supply being brought to an end, the expected fall in prices occurred in general, keeping producers’ sales interest loose,” says DATAGRO grain analyst Flávio Roberto de França Jr.

By DATAGRO

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Brazilian markets are off to a strong start in 2019. And while worries about much needed structural reforms remain, a market-friendly government and supportive fundamental backdrop could make this year a doozy, according to bullish analysts.

The year is still young, but so far the real USDBRL, +0.0107%  has gained 3.8% against the U.S. dollar, while the popular Bovespa stock index BVSP, +0.78%  has rallied more than 9%. In dollar terms, the Bovespa is up 12.4% so far this month, versus a 6.6% rise for the S&P 500 SPX, +1.32% according to FactSet.

Just last year, Brazil’s contentious presidential election and worries about much needed structural reforms to shore up the country’s fiscal health curbed investor enthusiasm. Economists say the reforms are still needed, but sentiment seems increasingly supportive even before outspoken newly elected President Jair Bolsonaro takes the stage at the World Economic Forum in Davos, Switzerland, next week.

By Anneken Tappe via Market Wacth

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Jan 18 (Reuters) – Brazil’s benchmark stock index reached an all-time high on Friday on positive investor sentiment about the new government’s pension reform plans and U.S.-China trade talks, while Latin American currencies steadied against the U.S. dollar. The Bovespa, one of 2018’s top performing indexes across the globe, hit a record high, crossing the 96,000 mark as investors hoped the new government’s pension reforms plans may be revealed earlier than expected.

By Agamoni Ghosh via CNBC

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The US $ 58.7 surplus recorded by Brazil last year is a result of increased imports from China, as well as increased international demand for Brazilian commodities. The data are from the Foreign Trade Indicator (Icomex) of January released today (17) by the Brazilian Institute of Economy of the Getulio Vargas Foundation (Ibre-FGV).

By DATAGRO

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The financial market remains optimistic with its forecasts for economic growth in 2019. According to the latest edition of the Focus Bulletin, released by the Central Bank on Monday (January 14), analysts are predicting Brazil’s Gross Domestic Product (GDP) will grow 2.57% this year, up from the previous 2.53%.

By BrazilGovNews

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The marketing of hydrated ethanol continues to be heated in the domestic market. Biofuel sales totaled 858.11 million liters in the second half of December, an increase of 26.57% over the volume traded in the same period of 2017 (678.00 million liters), according to data from the Cana- of Sugar (UNICA).

Considering December sales, sales also increased, registering 1.79 billion liters, an increase of 25.26% over December 2017 (1.43 billion liters). “This volume, a record for a month in December, is due to the maintenance of biofuels’ competitiveness against gasoline in the domestic market. This is the beginning of the most advantageous year for ethanol in this decade “, points out UNICA.

By DATAGRO

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Brazil’s outgoing central bank President Ilan Goldfajn told Swiss newspaper Le Temps that conditions remain in place for strong economic growth, while he warned against inflated expectations under the country’s new populist government.

“The expectations are now very high in Brazil,” Goldfajn said in an interview with the French-language newspaper ahead of an address at the International Center for Monetary and Banking Studies scheduled for Tuesday in Geneva.

By Andy Hoffman via Bloomberg

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Brazil stocks have been rallying since Bolsonaro’s presidential victory in October last year. The most popular Brazilian ETF, iShares MSCI Brazil ETF EWZ rose 13.3% in the fourth quarter of 2018. Brazil’s Bovespa index gained about 10.8% in the same time frame. Jair Bolsonaro was sworn in as Brazil’s president on Jan 1.

EWZ has continued its strong run this year by returning 12.5% in the year-to-date time frame (as of Jan 9). This indicates market participants faith in the newly elected president’s ambitious agenda.

By Zacks Equity Research via Nasdaq

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SAO PAULO (Reuters) – Far-right Brazilian president Jair Bolsonaro’s new government wants to save 1 trillion reais ($269.48 billion) over 10 years via pension reforms economists say are vital to undo the growing fiscal deficit, a Brazilian newspaper reported on Monday.

Bolsonaro, a former army captain who has surrounded himself with generals and liberal economists as top advisers, made pension reform a staple of his campaign. But he has given few details before his inauguration or as president.

By Reuters Staff via Reuters

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SAO PAULO (Reuters) – At BM Multimarcas, a used-car dealer on the outskirts of Sao Paulo, owner Santel de Abreu Bernardo can show you jalopies that most big banks would not touch.

There is a faded blue 2003 Renault hatchback with 195,000 kilometers on the dial. And a Volkswagen Gol Turbo so old that it could vote.

But when he needs to seal a deal, Bernardo has a go-to option for financing: the Brazilian unit of Spain’s Banco Santander.

By Carolina Mandl via Reuters

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On Monday, the presidents of public banks will begin their mission of reducing distortions in the Brazilian credit market and balancing the interest rates charged by financial institutions. The statement came from the Minister of Economy, Paulo Guedes, who participated in their inauguration ceremony in the Planalto Palace.

According to Guedes, interventions made by past governments in public banks have contributed to making credit cheaper for large companies and more expensive for the rest of the population, an imbalance which should be corrected by the new management.

By BrazilGovNews

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President Jair Bolsonaro sanctioned a law on Monday (January 7) that allows the creation of endowment funds, as a way to encourage private donations to projects of public interest. With the decision, the areas of education, science, technology, research and innovation, culture, health, environment, social assistance and sport will be strengthened.

In practice, all money donated by individuals and private companies, along with the income received from their investment, will be passed on to institutions and projects of public interest, increasing the sustainability of important public policies.

By BrazilGovNews

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The Brazilian government plans to privatize or liquidate some 100 state-run companies, reflecting the new administration’s drive to reduce the size of the state, Infrastructure Minister Tarcisio Freitas said on Tuesday.

Freitas also said in a radio interview that the right-wing government of President Jair Bolsonaro, inaugurated on Jan. 1, is considering awarding licenses for private-sector firms to build and operate 5,600 kilometers of new toll roads and bid again on 4,000 kilometers of existing toll roads.

By Reuters Staff

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It’s just a week into 2019 and Brazil is the best stock market in the world. Parabens, Jair Bolsonaro. Until the army tanks roll in, as his opponents believed just four months ago, Brazil is on track to be the best performing market this quarter, if not in the first half of 2019.

Based on the biggest, passive trades in the markets, the iShares MSCI Brazil is beating the SPDR S&P 500, Russia, India, China (duh), Mexico, FTSE Europe, Japan and the broader MSCI Emerging Markets Index.

Fitch Solutions forecast Brazil’s GDP growth to hit 2.4% this year, up from 1.3% last year.

Brazil’s economic recovery will pick up steam over the next couple of quarters, Fitch Solutions researchers wrote in a report published on Tuesday. They cited positive business sentiment bolstered by Bolsonaro’s new administration.

By Keneth Rapoza via Forbes

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By Agamoni Ghosh and Sruthi Shankar

Dec 13 (Reuters) – Brazilian stocks edged higher for the third straight day in line with global equities on signs of
easing China-U.S. trade tensions, while most Latin American currencies weakened.

Investors have been slowly growing less pessimistic about the chances of a China-U.S. trade deal after a slew of news this week pointed to easing tensions between the two powers.

China made its first major U.S. soybean purchases in more than six months on Wednesday, evidence that it was living up to pledges made when Presidents Donald Trump and Xi Jinping agreed to a 90-day detente to negotiate a trade deal.

Sao Paulo’s benchmark stock index rose 0.4 percent led by shares of material and consumer companies, shrugging off data that showed a surprise fall in retail sales volumes excluding cars and building materials in October from September.

Utility giant Companhia Paranaense de Energia was the top gainer on the index on news of a former executive director of a television channel, Daniel Pimentel Slaviero, taking over as the president of the state electricity company.

The Brazilian real edged lower, pushing MSCI’s Latin American currencies index down 0.6 percent.
Brazil’s central bank on Wednesday held interest rates at an all-time low and hinted that it will hold off from raising them for longer than expected.

“The dovish statement could cause the real to weaken a little, but I wouldn’t expect a huge move.”
– said Edward Glossop, emerging markets economist at Capital Economics, specializing in Latin America.

The Mexican peso dipped for the first time in three days as investors awaited the first budget from the country’s new leftist government on Saturday.

“I suspect there might be some weakness in the peso leading up to the budget. There could be some uncertainty about what might be included.” – said Glossop.

New finance minister Carlos Urzua, who is due to present the 2019 budget, told a congressional hearing he was targeting a primary surplus of about 1 percent of gross domestic product.

A group of investors holding bonds issued for a new Mexico City airport that President Andres Manuel Lopez Obrador has canceled said that it cannot support an amended bond buyback because problems still remain despite improvements to the plan.

Read full article on reuters.com

By Mario Sergio Lima and Matthew Malinowski

Brazil held its benchmark interest rate unchanged at a record low amid a sharp downturn in inflation and feeble economic activity.

The bank board, led by its President Ilan Goldfajn, on Wednesday kept the Selic rate at 6.50 percent for the sixth straight meeting in a move expected by all 39 analysts in a Bloomberg survey. The meeting was one of the last under Goldfajn, who will step down from his position in the coming months.

In a statement accompanying the decision, board members wrote that the risk of slow growth leading to lower-than-expected inflation had increased. In addition, chances of stronger price pressures stemming from the possible frustration of domestic reforms had moderated.

“The Committee judges that various measures of underlying inflation are running at appropriate or comfortable levels. This includes the components that are most sensitive to the business cycle and monetary policy,” policy makers wrote.

Brazil has withstood turbulence stemming from this year’s presidential vote and global investors’ stampede from risky assets. As the country’s currency weakened to a record low before the October vote, investors started betting on interest rate increases as early as this year. But the victory of Jair Bolsonaro, combined with tepid economic growth and faster-than-forecast deflation, eventually delayed such bets to end-2019.

 

Read full article on bloomberg.com