Petrobras reduces price of gasoline and diesel in refineries

Petrobras has confirmed a 3% reduction in the price of diesel and gasoline for refineries from today. President of the National Federation of Trade in Fuels and Lubricants (Fecombustíveis), Paulo Miranda Soares, said the reduction was expected since the price of oil barrel returned to levels previous to the tension between Iran and the USA. He stressed, however, that consumers will have to wait two weeks until distributors manage the inventory.

Source: Agência Brasil

Chinese industrial group to open bank in Brazil

Xuzhou Construction Machinery Group (XCMG) will open a bank in the Brazilian state of Minas Gerais in the first quarter of 2020. Banco XCMG S.A. will be the first foreign financial institution launched by a Chinese industry group and headquartered in Pouso Alegre, southern Minas Gerais, where the Chinese group has been operating an industrial park since 2015.

Source: Notícias Ao Minuto

Brazil is emerging as a world-class AI innovation hub

In the last four years Brazil has emerged as one of the top five countries in the world with the fastest growth in AI hiring, a study by Stanford University says. Accenture Research forecast that by 2035 AI will “boost the 2035 GVA of the Brazilian economy by $432 billion.” Other Latin American countries stand to gain AI-driven boosts in annual GVA in that same time frame — notably $78 billion in Colombia, $63 billion in Chile, and $59 billion in Argentina.

Source: Venture Beat

Brazil’s Ingresse raises $22 million

Brazilian ticketing platform Ingresse has raised R$90 million (US$21.8m) in a series-C funding round led by Endurance Fund Ltd. Founded in 2013, Ingresse aims to “consolidate the ticketing market” in Brazil, following the recent acquisitions of rivals Ingresso Certo, BlackTag and PixelTicket. The new investment will fund both new acquisitions and the development of new products.

Source: IQ Magazine