Day: July 6, 2020

BNDES provides $944 mn for SME’s

The National Bank for Economic and Social Development (BNDES) reached a total of R$5 billion ($944 mm) for micro, small and medium businesses in the working capital loan line. According to BNDES, 16,318 operations have already been approved with 15,094 companies, employing 372,800 people, with an average value of R$318,000 ($60k) per operation.

CPFL directs $1.5 mn in incentives to exchange electric motors

Companies in São Paulo and Rio Grande do Sul, which exchange old engines for more efficient technologies, may have a bonus of up to 40% in the acquisition of the new model. This is the motto of an action developed by CPFL Energia in partnership with the manufacturer Weg. The energy company will invest R$8.1 million to CPFL Paulista, CPFL Piratininga, CPFL Santa Cruz and RGE.

Brazil’s EMBI+ projected to close 2020 with an average of 350 points

Since the outbreak of the coronavirus, Brazil has risen from 210 to 388 points between February and June on JPMorgan’s EMBI+ (Emerging Markets Bond Index). This indicator works as a thermometer of the level of confidence that foreign investors have in emerging countries. Consultancy Macrosector project that EMBI+ Brazil could close the year with an average of 350 points. If this estimation is correct, it would be the worst result since the impeachment of president Dilma Rousseff in 2016, when the index hit 384 points.

Minister of Agriculture states that “Agribusiness doesn’t need the Amazon”

According to the Minister of Agriculture, Tereza Cristina, agribusiness does not need the Amazon to expand its production in the country. This statement is made at a time when Brazil is leading record of deforestation in the largest tropical forest on the planet. The minister says that part of the criticism is related to commercial interests and competition, and that agro, despite the pandemic, has increased exports and domestic consumption.