Brazil’s state-owned BNDES development bank said it planned to provide about 2.55 billion dollars in financing over the next four years to suppliers to the country’s oil and gas industry.
Lending by Brazil’s BNDES (National economic and social development bank) totalled 43.5 billion Real (29bn dollars approx) in the first five months of the year, representing a contraction of 6% compared to the same period in 2010, according to a bank’ release.
Brazilian retail tycoon Abilio Diniz has suspended plans to merge his supermarket chain Grupo Pao de Acucar with the local arm of France's Carrefour. The move comes after the Brazilian state development bank BNDES and a private fund backed out of supporting the deal.
The good performance of the Brazilian economy and its management of the 2008 world financial crisis have been headlines across the world, but there are also some warning signals form analysts regarding the possibility of asset bubbles and their consequences.
Brazil's state development bank, BNDES, is lending to companies at the lowest rate relative to the country's benchmark in two years, undercutting President Dilma Rousseff's efforts to curb inflation, revealed the Sao Paulo financial press.
BNDES bank will not put up the 2.4 billion US dollars it pledged for the merger of Brazil's biggest retailers, Grupo Pao de Acucar and France's Carrefour, unless France’s Casino is on board, bank president Luciano Coutinho said in a local magazine.
Brazil's government unveiled new financing and other incentives for sugar cane ethanol production, vowing to work closely with the private sector to boost production in an industry that has struggled recently despite its immense promise.
Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy.
Brazil which gets about 80% of its energy from hydroelectricity is considering a record investment of 4.1 billion Real (2.5 billion USD) for wind farms this year to diversify its power supply.
Revelations of a several times surge in the personal wealth of Brazilian government's influential chief of staff have triggered controversy and could drag on and become a major headache for President Dilma Rousseff.