Nestle SA is launching a reforestation project to plant at least 3 million trees in Mexico and Brazil in the next year and a half as the Swiss food group strives for carbon neutrality by 2050, executives told Reuters. Source: Financial Post
Congress in Brazil maintains sanctions over $6.7 billion of the budget. An agreement was signed that, in addition to the loss of Congress power over this amount, R$15 billion ($3 billion) will be returned to the government. The rest will remain under the command of the congressmen, but under more lenient rules.
The coronavirus outbreak has a negative impact of $104 million on Brazilian exports. In global terms, losses to different economies in the world would already be estimated at $50 billion, a demonstration of the dependence that has been created in relation to the supply of Chinese parts and items in several global production chains.
The announcement by the Central Bank of Brazil happened with the dollar close to R$ 4.55, of which it will make today (5) an exchange swap auction of up to $1 billion, but it did not satisfy the market due to the volume and timing. Therefore, the currency continued to rise to close at R$ 4.58. The Real has been showing more severe pressure than its peers against the dollar due to the Selic cut, with the chance of falling by 0.5 points in March.
In the first year of the Bolsonaro government, GDP advanced 1.1%. The result of the year was driven by the growth of private investments, which increased by 2.2%. On the supply side, the highlight was the services sector, which increased 1.3%. The recovery of the labour market, although slow, contributed to the results.