São Paulo State GDP grew 9.4% in third quarter

The GDP of the state of São Paulo grew 9.4% in the third quarter, compared to the second, when it fell 6.8%, as a result of seasonal adjustment, reported Fundação Seade. Over the same period last year, there was growth of 1.6%. In 12 months, there was a drop of 0.7 percent. Seade estimates that São Paulo’s GDP should close the year with a contraction of only 0.6%.

Source: Valor Investe

Petrobras strengthens environmental agenda and projects $1 bn investments

Petrobras is gradually broadening its environmental discourse, amid increasingly frequent movements of oil companies betting on renewable energies. For the period 2021 to 2025, the company projects investments of around $1 bn in environmental commitments. In the short and medium term, however, the state-owned company should continue to focus almost 100% on fossil fuels.

Source: Exame

Railway new legal framework to attract private investment to be voted

The new legal framework for railways is to be voted on by the Senate next week, with the promise of organising the sector’s framework and allowing new formats for attracting private investments. The project was born from the idea of ​​introducing the authorisation regime in the railway market. In it, it is the investor who takes his interest in building and operating a new line to the government, at his own risk and therefore with more freedom.

Source: 6 Minutos

Brazil Steel Institute estimates domestic sales to rise by 5.3% in 2021

The president of the Brazil Steel Institute estimates that domestic sales of this input will rise by 5.3% in 2021. According to the institute, Brazilian crude steel production is expected to close by 30.746 million tonnes by 2020, a 5.6% drop compared to last year. Domestic sales are expected to grow by 0.5% to 18,885 million tons this year.

Source: Valor Investe

Brazil’s foreign trade shrinks by $14 bn

Brazil’s foreign trade contracted by $14 bn in the third quarter compared to the level before the covid-19 pandemic in the fourth quarter of 2019, show data from the Organisation for Economic Cooperation and Development (OECD). Brazilian exports declined by $3.8 bn between July and September compared to before the pandemic. Imports contracted much more, by $10.2 bn.

Source: Valor Investe