Brazilian Development Bank will support private sector with $20 bn

The Brazilian Development Bank (BNDES) offers around R$100 billion ($20 billion), that can be used to support the private sector. This cash list shows, that there is room for stronger action by public banks (BNDES, Caixa and Banco do Brasil) in credit. The BNDES money was reformed in February, with the sale of Petrobras’ common shares, in which the bank pocketed R$22 billion ($4 billion).

Source: Valor

Brazilian Stock Exchange jumps 7% after action of Central Bank

The Brazilian market recover partially from the impact of the collapse of oil prices and the outbreak of covid-19. The Ibovespa, the main index of the Brazilian stock exchange, closed up 7.14%, at 92,214.47 points, the highest daily appreciation since 2009. With that, it partially recovered from the historical fall of more than 12% registered on Monday.

Source: Economia UOL

Brazilian industrial production grows 0.9% in January

Brazilian industrial production raised 0.9% in January, in comparison with December, reported the Brazilian Institute of Geography and Statistics (IBGE). The result interrupts two months of decline in the sector, a period in which the accumulated loss reached 2.4%. It was the best January since 2017, when it stood at 1.1%, and the strongest monthly advance since October 2019, when it also rose 0.9%.

Source: G1

Localiza’s profit rises 26% and reached $45.8mn

The largest car rental company and fleet manager in Brazil, had profit growth in the fourth quarter, Localiza announced that it had consolidated net profit of R$228.4 million ($45.8 million) from October to December, an increase of 25.9% compared to the same period in 2018. The company’s operating result measured by Ebitda totalled R$629.6 million ($126 million), an increase of 40.2% year on year.

Source: Reuters

Atlas invested $176mn to sell 70MW of solar energy to Anglo American

Mining company Anglo American signed a contract with Atlas Renewable Energy to buy 70MW of solar energy, as it aims to acquire 100% of its electricity from renewable sources by 2022. According to Anglo American, Atlas invested R$881 million ($176 million) in a solar plant to achieve the contract, which will have more than 800,000 panels and an installed capacity of 330 MWp.

Source: Exame