Eletrobras profit falls 77% to $ 620 million

Eletrobras announced a net profit of R$ 3.1 billion ($ 620 mn) in the fourth quarter of last year, a result 77% lower than that recorded in the same period of the previous year, the company said in a statement. According to the state company, the drop in performance is explained by the positive non-recurring effects that influenced the company’s results in the last quarter of 2018.

Source: Money Times

Grinding of sugarcane has high of 88% in Brazil

Mills in the Center-South region of the Brazil processed 88% more sugar cane in the first half of March compared to the same period last year, according to data recently released by the Union of the Sugarcane Industry (Unica) . According to the survey, the milling in units that concentrate around 90% of national production was 2.99 million tons, compared to 1.59 million registered a year ago.

Source: G1

Central Bank will help SME’s in $ 8 bn

Brazilian Central Bank stated that the R$ 40 billion ($ 8 billion) payroll financing program for small and medium-sized companies is being put into operation. The bank also emphasized the innovative character of the initiative, announced last Friday, the 27th, and which targets businesses with annual revenues between R$ 360 thousand ($72 thousand) and R$ 10 million ($ 2 million).

Source: Agência Estado