Day: June 22, 2020

European investors threaten to divest in Brazil due to deforestation

Seven major European investment firms have told they will divest in Brazil if they don’t see progress towards a solution to the growing destruction of the Amazon rainforest. The growing threats from investors with more than $2 trillion in managed assets, show how the private sector is taking global action to protect the world’s largest rainforest.

Crisis leads 20,000 stores to close in the capital

Approximately 20 thousand stores have ended their activities in the capital of São Paulo since March, when the social distance started due to the pandemic. The number represents 10% of the total of commercial establishments in the city of Sao Paulo. Fecomercio estimates that, in the capital alone, the trade lost almost R$17 billion ($3.2 bn) between March and June.

Transport between ports increase 11.3% this year

In the midst of the pandemic, the port sector in Brazil ended up registering a positive performance. Cabotage grew 11.3% between January and April compared to the same period last year, according to data from the Ministry of Infrastructure. In total, the sector transported 60.8 million tons in the period.

Brazilian share of funds among Brics falls by half

Brazil’s participation in international funds remains in free fall. In global funds, the share of Brazilian assets fell to just 0.2% in May, from 0.4% in December 2019, according to a study by BTG Pactual. In funds dedicated to the BRICS (Brazil, Russia, India, China and South Africa) the fall was even more pronounced, from 17.4% in December to half, 8.8% last month.

Morgan Stanley increases shareholding in CESP to 5%

Morgan Stanley increased its shareholding in CESP to 5%, shows a document sent to the market this Friday (19). As a result, the bank now holds 10 million shares in the electricity company. In addition, Morgan Stanley reported that the operations are not intended to change the composition of the controlling interest or the administrative structure of the company.