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MercoPress, en Español

Montevideo, November 27th 2024 - 09:37 UTC

Tag: Brazil

  • Tuesday, August 29th 2017 - 11:30 UTC

    Brazil limits discretionary subsidies through government banks lending

    BNDES the main provider of long-term corporate loans in Brazil has offered cheap loans for years, including meatpacker JBS SA, to boost growth and create jobs.

    Brazil’s lower house of Congress approved the main text of a bill creating a market-based benchmark interest rate for state lender BNDES, in a victory for President Michel Temer. The lower house will now have to analyze three potential amendments to the bill early on Tuesday before sending the measure to a final Senate vote, speaker Rodrigo Maia told reporters.

  • Friday, August 25th 2017 - 09:31 UTC

    Brazil opens vast Amazon nature reserve to mining

    Established in 1984 under the then military dictatorship, the reserve's protected status restricted mining activities to state companies.

    Brazil stripped a vast Amazon nature reserve of its protected status in a move that could expand mining in the region, in a decree published on Wednesday. The four million-hectare reserve is home to indigenous people but also rich in gold and manganese.

  • Thursday, August 24th 2017 - 09:54 UTC

    Ex president Lula admits he might have to step down as candidate in 2018

    “I know my enemies want to block any possibility of me being a candidate and I am fighting that,” Lula said. “But nobody is irreplaceable,” he added.

    Former Brazilian president Lula da Silva told Reuters on Wednesday that his recent conviction for corruption might mean that his Workers Party will have to field a candidate other than him in next year's election.

  • Wednesday, August 23rd 2017 - 09:55 UTC

    Temer prepared to privatize one of Brazil's jewels of the crown

    The transaction should be concluded by mid-2018 and could involve the sale of new stock to help replenish Eletrobras capital, Minister Fernando Coelho Filho said.

    Brazil's surprise move to privatize Centrais Eletricas Brasileiras SA sent the utility's shares soaring nearly 50% on Tuesday as investors bet the plan augured further moves to loosen the government's grip on the economy.

  • Sunday, August 20th 2017 - 13:14 UTC

    Batista family, Brazilian meatpacker JBS main shareholder face several civil lawsuits

    Brazil's BNDES, whose investment arm is JBS' No. 2 shareholder, said it would endorse a civil lawsuit against management and the billionaire Batista family

    JBS SA will proceed with plans to list a U.S.-based unit when market conditions allow, as the world's No. 1 meatpacker wrestles with a shareholder revolt over the role of the controlling Batista family in a massive graft scandal. In a conference call to discuss second-quarter results, CEO Wesley Batista said JBS Foods International Inc could be listed by the end of next year, once parent JBS finalizes 6 billion Reais (US$1.9 billion) in asset sales to cut debt and restore investor confidence.

  • Saturday, August 19th 2017 - 08:31 UTC

    UK envoy in Brazil promotes trade and scientific cooperation

    UK Trade Envoy for Brazil, Mark Prisk MP (C) with some of the new scholars from Recife (Pic Twitter)

    Mark Prisk, the UK’s trade envoy to Brazil makes his first visit to Recife this year with the purpose of increasing dialogue between the region and United Kingdom. He will discuss topics such as trade, smart cities and the UK government’s international awards scheme, Chevening in bilaterals with Porto Digital and Fiepe. The Trade Envoy was previously in São Paulo in where he held meetings with government and private sector representatives.

  • Friday, August 18th 2017 - 21:10 UTC

    Brazilian economic activity (and optimism) picking up

    The central bank reduced the benchmark Selic interest rate to the lowest in four years as inflation plunged below the bottom end of its target range.

    Economic activity in Brazil expanded at a faster pace than expected in June, the latest in a batch of reports suggesting an economic recovery may be taking hold. Economic activity rose 0.50% from May after seasonal adjustments, the central bank said on Thursday.

  • Tuesday, August 15th 2017 - 10:45 UTC

    Brazil opens first corn ethanol plant; the country leads in sugarcane ethanol

    Brazil is the biggest sugarcane ethanol producer globally. The US, meanwhile, is the top ethanol producer, relying mainly on corn as feedstock.

    Brazilian company FS Bioenergia inaugurated a corn ethanol plant, the first in the country, to produce 210 million liters year. The plant was built by a joint venture between the local agro-company Fiagril and US-based Summit Agricultural Group with investments of BRL 450 million (US$ 141.1m), said the Ministry of Agriculture, Livestock and Farming.

  • Tuesday, August 15th 2017 - 09:34 UTC

    Temer and Meirelles discussing with congress leaders budget deficit and cabinet positions

    Finance Minister Henrique Meirelles wanted to wait until September to weigh looser budget goals, but agreed to move up talks under pressure from Congress.

    Brazil's government delayed the announcement of looser budget targets for 2017 and 2018, previously expected for Monday, as authorities struggled to estimate revenues given strong opposition in Congress to tax hikes.

  • Monday, August 14th 2017 - 12:02 UTC

    Brazil’s Pre-Salt Extraction Costs Fall To US$8 Per Barrel

    In June Brazilian oil output rose from May to a daily average of 2.675 million barrels. Production in the pre-salt areas jumped to an average of 1.353 million bpd

    By Haley Zaremba from Oilprice - Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed down by allegations of involvement in Brazil’s widespread corruption. But that’s all changing.