European organizations have been reacting with alarm to reports that farmers in Brazil are seeking to end the Amazon Soy Moratorium, a commitment made by traders and crushers not to buy soy from cleared land after 2008 in the Amazon.
MOSCOW, Nov 29 (Reuters) – Russia’s agriculture safety watchdog said on Friday it removed temporary restrictions on beef supplies to Russia from two plants in Brazil starting from Nov. 29. One of the plants authorized to resume sales to Russia is operated by Minerva SA and the other one by JBS , the Russian regulator, Rosselkhoznadzor said in a statement.
Telxius has struck a deal with Telefónica Brasil (Vivo) for the acquisition of 1,909 sites in Brazil for R$ 641 million ($153 million). Under the terms of the agreement, Telxius will double its existing portfolio bringing it to a total of 3,850 sites and reinforcing its position as a one of the biggest infrastructure operators in the country.
Brazil is hoping global investors demand for green debt will help raise funds for some of its largest infrastructure projects, including a multi-billion railway crossing through a portion of the Amazon rainforest. Latin America’s largest economy is seeking a “green seal” for the $3.1 billion Ferrograo railway.
Brazil’s central bank capped the rates of overdraft loans, one of the country’s most expensive forms of credit. Overdraft loans may not surpass a limit of 8% per month, or about 150% a year, starting on Jan. 6 2020. At present, interest rates on this automatic banking credit averages around 306% a year.
Compass Group, the world’s largest caterer, has announced plans to scale back operations in Europe, Japan, and Brazil by £300m as the global economy shows signs of weakness.
According to Der Spiegel magazine, German Environment Minister Svenja Schulze is proposing to complement the sustainability rules of the Mercosur Free Trade Agreement between the European Union and the Latin American countries with a certification system for both products. The country wants to avoid buying soy and meat whose production has affected the environment in the Amazon.
Swedish telecoms equipment maker Ericsson plans to invest 1 billion reais ($238.30 million) in Brazil to add a new assembly line dedicated to 5th generation technology (5G) for its Latin American operations.
Brazilian Economy Minister Paulo Guedes said on Monday that Brazil’s economy was starting to recover and he was not worried about exchange rate fluctuations that saw the real close the day at its weakest ever against the U.S. dollar.
Brazilian President finance minister Paulo Guedes has been pursuing a reform programme which is among the emerging market world’s most ambitious. The first significant fruit of Mr Guedes’ efforts was reform of the country’s unaffordably generous public sector pensions, which finally passed congress last month.