Brazil’s beef exports fell by around 3% due to Covid-19

Brazil’s meat exports fell about 3% in February compared to January and fell 6% compared to the same month of 2019, amid a slowdown in purchases by China. According to data from the Foreign Trade Secretariat (Secex) compiled by the entity, shipments of the product (fresh and processed) totaled 131,227 tonnes last month, against 135,451 tonnes handled in January.

Source: Reuters

Brazilian Navy spent $2 bn in four new ships

Brazilian Navy formalises the R$9.1 billion ($ 2 billion) contract for the acquisition of four advanced frigates of the new Tamandaré class. It is the first military contract of the Jair Bolsonaro government. The ships will be built in Santa Catarina, at the Oceana shipyards, in Itajaí, through the Águas Azuis consortium, formed by three companies: the German Maritime System Thyssenkrupp, associated with Atech and Embraer Defense and Security.

Source: Estadao

Dollar has a new record and rises to R$4.51

The dollar had the tenth consecutive high session and closed for the first time at the level of R$4.50. On a day noticeable by strong volatility, the dollar dropped to R$4.45 shortly after the FED – American Central Bank – cut the interest rate early this Tuesday, but then went up again with the worsening of the international market and the possibility of more interest rate cuts in Brazil to meet the coronavirus effects.

Source: Jovem Pam News

OLX Brazil buys Grupo Zap for $640 million

Adevinta, one of the controllers of the marketplace platform OLX Brasil, announced on Tuesday an agreement to purchase all the shares of Grupo Zap, which includes the real estate classified platforms Zap and Viva Real. The transaction, of R$2.9 billion ($640 million) in cash, will be financed equally by the two shareholders of OLX Brasil.

Source: Infomoney

Military agreement between Brazil and the US expects partnerships of $96 billion

Brazil and the United States closed an unprecedented military agreement that could help open the largest defence market in the world to the Brazilian industry. The text still needs to pass through the Congress of the two countries and expects partnerships supported by a fund of $96 billion. Itamaraty’s expectation is for a quick process that could allow the US to launch rockets from the Alcantara (Maranhao) base in about six months.

Source: Folha de Sao Paulo