Day: March 27, 2020

Coronavirus: Caixa announces $6.6bn into the economy

Caixa Econômica Federal announced new measures to stimulate the economy during the new coronavirus pandemic. Changes range from a reduction in interest rates to an increase of R$ 33 billion ($ 6.6 billion) in credits and working capital, in addition to the R$ 78 billion ($ 15 billion) announced last week.

Petrobras suspends dividends of $340mn

Petrobras postpones the payment of dividends of R$ 1.7 billion ($ 340 million) for 2019 to December, due to the war against the coronavirus, which caused a drop oil prices and reduced consumption, factors that put pressure on the company’s cash. Petrobras decided to reduce oil production on its platforms located in shallow waters (with higher extraction costs), totalling 100 thousand barrels per day.

Embraer has a loss of $76mn

Embraer had a net loss of R$ 383.6 million ($ 76 million) in the fourth quarter of 2019, reversing a net profit of R$ 79.7 million ($ 15 million) a year earlier. The adjusted Ebitda fell to R$ 270.7 million ($54 million), from R$ 502.8 million ($100 million) a year earlier. The data show that Embraer reached R$ 8.6 billion in net revenue in the 4th quarter, and the operating result in that period includes the recognition of R$ 294.2 million ($58 million)to impairment in the executive aviation segment.

IATA projects 40% drop in Brazil in 2020

The International Air Transport Association (IATA), which brings together the 300 largest airlines in the world, projects a 40% drop in revenue for the airline industry in Brazil in 2020, compared to last year, because of the effects of the covid-19 pandemic. . In revenue, the estimated loss is $ 7.7 billion in the country this year.

Ibovespa rises and accumulates high of 22%

The Ibovespa closed higher for the third consecutive trading session this Thursday (26th), accumulating an increase of 22.24% since last Monday. The Exchange followed the performance of foreign markets. The Dow Jones and S&P 500 indices were up more than 6%, extending gains from the last few sessions.