Day: May 29, 2020

Due to Covid-19, government accounts record shortfall of $ 17 bn

The primary result, balance between expenses and revenues excluding interest expenses, from the Central Government, which includes the National Treasury, Central Bank and Social Security accounts, registered a deficit of R$ 92.902 billion ($ 17 bn) in April 2020. The value is the worst for April and is close to the R$ 95 billion ($ 17,3 bn) fiscal deficit in 2019.

Santander invests $ 5 mm in Brazilian fintech

Santander announced an investment of $ 5 million in the Brazilian startup a55 through its Santander InnoVentures venture capital fund. This is the fourth investment that the fund makes in Latin America and the 30th made in a fintech. Prior to this round, a55 had raised $ 3 million from Brazilian and foreign angel investors.

Petrobras raises $ 3,25 bn abroad during pandemic

Petrobas raised $ 3.25 billion by issuing bonds in the international market. It was the first capture of a Brazilian company after the start of the pandemic. The capture was made in two different plots. The first, of $ 1.5 billion expires in 2031 and has an interest rate of 5.6% per year. The second, of $ 1.75 billion expires in 2050 and has an interest rate of 6.9% per year.

Hering’s profit falls 89% with store closings

Fashion retailer Hering saw nearly a 90 percent drop in first quarter earnings, directly affected by the social isolation measures taken in mid-March in the country to try to contain the coronavirus pandemic. The company reported that its profit for the period amounted to R$ 5 million ($ 1 million), down 89.2% from the same stage of 2019.

Exports of orange juice from Brazil grew 17%

Brazilian exports of orange juice rose 17% in the accumulated ten months of the 2019/20 harvest, compared to the same period of the previous season, with an increase in demand from the European Union, the main buyer, the association of the sector CitrusBR said based on government data.