Brazil

Saturday, October 31st 2020 - 17:21 UTC
Brazil purchasing soybeans from the United States for the domestic market

Bloomberg has reported that the United States began selling soybeans to Brazil after the Chamber of Foreign Trade (CAMEX) temporarily suspended import tariffs for corn and soybeans. This is a rare event that can be explained because Brazil has taken the lead in the production and export of the oilseed.
Saturday, October 31st 2020 - 08:33 UTC
Brazilian vice-president contradicts Bolsonaro, ”of course we will buy the (Chinese) vaccine”

Brazil's government will “of course” buy a Chinese COVID-19 vaccine that is being tested in the country, Vice President Hamilton Mourão said on Friday, in the latest example of him contradicting President Jair Bolsonaro.
Saturday, October 31st 2020 - 07:51 UTC
Brazil's central bank intervenes twice in the week in support of the weakening Real

Brazil's central bank intervened in the foreign exchange market on Friday, selling dollars to ease heavy downward pressure on the real that had pushed the local currency closer to its all-time low against the dollar struck earlier this year.
Friday, October 30th 2020 - 09:37 UTC
Brazil keeps interest rate at record low, despite a spike in food and fuel inflation

Brazil’s central bank kept its key interest rate at a record-low 2.00% on Wednesday, maintaining its “forward guidance” pledge to keep rates lower for longer and even the possibility of further easing, despite the recent rise in inflation and fiscal risks.
Thursday, October 29th 2020 - 09:20 UTC
Major US funds involved in Amazon degradation and indigenous rights violations, claim environmental groups

Major US financial firms are helping fund environmental destruction and indigenous rights abuses in the Amazon with billions of dollars in investments in questionable companies, according to a report published on Tuesday.
Thursday, October 29th 2020 - 09:10 UTC
Brazilian government borrowing jumped to second highest record in September

Brazilian government borrowing jumped to its second-highest on record in September, Treasury figures showed, meaning Brazil issued more debt in the first nine months of this year than the whole of last year.
Thursday, October 29th 2020 - 08:39 UTC
Brazil has a super port in the southern state of Rio Grande do Sul

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.
Thursday, October 29th 2020 - 08:28 UTC
Petrobras cutting losses as Brazilian economy and fuel demand are increasing

Brazil's state-run oil giant Petrobras announced on Wednesday it reduced its losses in the third quarter of the year, the company's third negative result in a row due to the global economic meltdown caused by the coronavirus pandemic.
Wednesday, October 28th 2020 - 09:25 UTC
Brazil third largest supplier of crude oil to China during September; Russia leads

Data from the Chinese Customs Administration indicates that in September, Brazil advanced to the position of third-largest supplier of crude oil to the Asian country, as independent Chinese refiners obtain cheap and a relatively high-quality supply from the South American exporter.
Wednesday, October 28th 2020 - 09:23 UTC
Huge volumes of discovered hydrocarbons remain 'stranded' in South Atlantic fields of Brazil, Angola and Falklands

Huge volumes of discovered hydrocarbons worldwide are currently ‘stranded,’ according to a study by Westwood Global Energy Group. The consultant has identified 119 fields in this category that were found between 2008 and 2016 with collectively 11 Bbbl of oil and 36 Bboe of gas, but currently not progressing toward development, including Brazil, Angola, and the Falkland Islands in the south Atlantic.