Day: February 20, 2020

Antitrust watchdog Cade allows Embraer-Boeing deal to proceed

The majority of councillors at Brazil’s antitrust agency Cade voted on Wednesday against a prosecutors’ request to review the sale of Embraer SA’s EMBR3.SA commercial division to Boeing Co BA.N and allowed the deal to proceed. Earlier this month, Brazilian prosecutors had filed an appeal with Cade asking the regulator to reconsider its approval of the deal due to potential omissions in the decision. It tie-up had been approved without restrictions on Jan. 27.

Brazil oil production rises 20% in January to all-time high

Oil companies produced 3.17 million barrels per day (BPD) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said. Natural gas production increased 22% over January 2019 to 138.7 million cubic meters per day on average last month, also a record.

Brazil to have 20 million 5G users by 2023 – Cisco

Brazil will have around 20 million 5G users by 2023, accounting for 6% of the mobile base, according to Cisco’s Annual Internet Report 2018-2023. In the same period, the 4G customer base will grow to 58.4% from 53.8% of mobile accesses. By contrast, 3G and older technology will drop to 29.6% from 46.1% while IoT accesses will grow to 6% from 0.1 percent.

Supermarket chain GPA posts 70% profit drop in Q4

Brazilian supermarket chain GPA SA reported a 71% drop in its fourth-quarter net income year-on-year, missing market expectations, after completing a corporate reorganisation. In a securities filing, the local subsidiary of French group Casino Guichard Perrachon SA said its quarterly net profit hit R$98 million ($22.45 million) compared with a consensus estimate of R$327.6 million compiled by Refinitiv.