Day: March 2, 2020

Credit card companies starts using dollar exchange rates on the day of purchase

Brazilians who using credit cards abroad will be able to more precisely estimate the cost of international purchases. The Central Bank’s determination (Circular nº 3918) that forces card operators to use the dollar quotation on the day of purchase – and no longer that on the invoice’s due date – came into effect on March 1st, to convert the amount into Brazilian Real. The change aims to give more predictability to consumers who use the card abroad or who make purchases on foreign websites.

Almost half of the shares of Eucatex Company go to auction

Condemned of money laundering and imprisoned at home, former governor Paulo Maluf transferred funds that came out of public works and ended up in shares of his family’s company, Eucatex. An international collection action by the Municipality of São Paulo to recover about $230 million attributed to Paulo Maluf will result in the auction of almost half of the shares of Eucatex, a flooring and laminates company of the former governor’s family.

Brazilian startups create model in which sponsors fund donations from individuals to NGOs

A new business model created by Brazilian startups allows people to donate money to social causes without spending a cent. This is possible thanks to partnerships between these companies and sponsors. The application converts the money generated with digital ads into donations for four NGOs, with a focus on access to clean water, food, medicines and basic health. Through the App, the user receives news with a positive content and when accumulating this fictitious money, the user can choose which of the four NGOs he wishes to donate.

Air transport loses space in Brazilian exports and imports

The share of the airline sector in shipments and purchases of more expensive goods from other countries has fallen in recent years. A study by the National Industry Confederation (CNI) shows that the percentage of goods transported by planes fell from 18-7% in 2000 to 11.1% in 2018. It is a reflection of the increase in exports of basic products, such as agricultural products, which are exported mainly by sea, but also of the decrease in the sale of industrial goods.

Climate Change could reduce coffee production in Brazil by 60%

A new study indicates that climate change could devastate coffee production in Brazil. The study’s models show that Brazil’s southeastern mountain areas of Matas de Minas Gerais, as well as Montanhas, do Espírito Santo, will be a lot warmer and drier in 2050. This will mean a 60% reduction in the area that is prime for coffee production. These areas produce over 20% of Brazil’s Arabiga coffee and this could severely impact thousands of livelihoods in a negative way.