The deforestation of the Legal Amazon in the first semester of 2020 was 25.47% higher than in the same period last year. The forest lost 3,070 km2, according to Inpe. This corresponds to about twice the area of the municipality of São Paulo. Also, this represents the worst result of the first semester in the last five years.
The share of railways in the total transportation in Brazil should reach more than 30% in up to eight years. This is the federal government’s plan. Currently, the railroad mode accounts for 15% of the Brazilian transport ecosystem. The Ministry of Infrastructure argued that the achievement of this goal should be guaranteed from the railroad concessions already planned.
Latam Brasil said it received $1.3 billion (R$ 7 billion) from an investment fund led by U.S. company Oaktree Capital Management L.P. The loan, made on the debtor-in-possession model, allows creditors to take priority in settling debts while a group is in judicial recovery.
The Economic Activity Indicator of the Getúlio Vargas Foundation (IAE-FGV) pointed to a growth of 0.5% in the economy in May compared to April. The index released shows a small recovery after strong retractions in the previous two months. FGV warns, however, that activity is still at a much lower level than in the pre-pandemic period.
Allianz announced the conclusion of the acquisition of SulAmerica’s car insurance operations and essential branches for R$ 3.2 billion ($ 615 mm). According to the German company, after the acquisition it becomes the second largest car insurance company. With the merger, Allianz projects a total turnover of R$ 7 billion ($ 1.3 bn) in 2020, compared to R$ 3.3 billion ($ 634 mm) last year.