The BNDES has already released R$ 1.1 billion ($ 200 million) for micro, small and medium-sized companies affected by the economic effects of the coronavirus pandemic, equivalent to about 20% of a working capital line reserved for the segment. Most of the funds (65%) were released to companies in the Southeast region. The average value of operations was R$ 368 thousand ($ 66K), the bank said.
Steel distributors expect a 45% drop in purchases and sales in April, according to a survey released on Thursday, 23, by the National Institute of Steel Distributors (INDA). In April, steel demand fell sharply, which led mills to decide to quell ovens. Imports made by the chain ended March with a decrease of 9.6% in relation to the previous month, with a total volume of 58.5 thousand tons.
Source: Agencia Estado
Itaú BBA’s strategy team cut the projection for the Ibovespa from 94 thousand points to 90 thousand points, after having more drastically reduced expectations on March 24 for the stock market benchmark from 132 thousand to 94 thousand points. However, it is worth noting that this target still represents a positive variation of 13.93% compared to Friday’s closing (17).
Trisul’s board of directors approved the payment of R$ 40 million ($ 7 million) in dividends, which corresponds to 28% of net income, shows a document sent to the market on Thursday (23). The gross amount will be R$ 0.214 ($0.038) per share, which will be paid in two equal instalments of R$ 20 million ($ 3.63 million), the first being paid by May 15 and the second by July 15.
Source: Money Times
Shopping centre manager Iguatemi is expected to cut investments by 40% in 2020 to offset revenue losses from rental exemptions and condominium discounts for retailers affected by the coronavirus. Iguatemi has a portfolio composed by 15 shopping malls, two outlets, three commercial towers and a centre of energy.