Day: May 12, 2020

Oil exports from Brazil rise 40% in early May

Oil exports from Brazil reached around 308 thousand tons a day in the first week of May, an increase of 40.4% in comparison with the result of the same month of last year. As a result, Brazil has already exported 1.5 million tonnes in the first five business days of the month, versus 4.8 million in the entire month of May 2019. Shipments from the country remain strong with Petrobras counting on firm demand from China.

Itaúsa increases shareholding in Alpargatas to 29.1%

Itaúsa increased its shareholding in Alpargatas by 0.31% to 29.1%. According to the document sent to the market, the negotiations were carried out for an average price of R$ 22.72 ($ 4,13) per share. Therefore, in the purchase of 1.78,900 shares of the company, Itaúsa disbursed approximately R$ 40.7 million ($ 7.45 million).

Financial market reduces again GDP prediction for 2020

The financial market revised for the 13th consecutive week the prediction of a fall in the economy this year. The estimate of retreat in GDP worsened from 3.76% to 4.11%. The estimate appears in the Focus bulletin, published weekly by the Central Bank (BC), with the projection for the main economic indicators. The forecast for GDP growth in 2021 remains at 3.2% and for 2022 and 2023 remains at 2.50%.

Chicken exports from Brazil fell 4.7% in April

Brazilian chicken meat exports fell 4.7% in April compared to the same period in 2019, but in the accumulated of the first four months of the year, they registered an increase of 5.1% in the volume shipped. Last month, the country exported 343,300 tons of the protein, considered fresh and processed products, compared to 360,100 tons shipped in April of the previous year.

Shopping mall record losses of $ 4.9 bn with closed trade

The ALSHOP (Brazilian Association of Shopping Tenants), points out that store owners in shopping centres have recorded losses of around R$ 27 billion ($ 4.9 billion) since the beginning of the new coronavirus pandemic. According to the association, only 81 of the country’s 577 shopping malls are open in more than 50 municipalities.