Day: August 25, 2020

Brazilian trade balance accumulates surplus of $5 bn

The trade balance registered a surplus of $4,926 billion in August, according to the Economy Ministry. The surplus happens when the exportations surpasses the importations. When the opposite occurs, it is registered trade deficit. In the partial year, positive balance is $34.91 billion, with an increase of 18.5% in relation to the same period in 2019.

Source: G1

Environmental and civil society present proposals for sustainable tax reform in Brazil

The Environmentalist Parliamentary Front promoted the presentation of nine proposals for the “Sustainable Tax Reform”. The proposals aim to respond to two challenges for the development of Brazil: on one hand, to simplify rules, reduce the tax burden and eliminate harmful subsidies; on the other hand, to favour the development of a green economy that puts the country at the forefront of the XXI century development paradigm.

Source: Money Times

Government raises $1.10 bn, the global limit for public sector credit operations

The National Monetary Council (CMN) approved a resolution to raise by R$6 billion ($1.1 bn) the global limit of credit operations that can be contracted by public sector entities in 2020. In a note, the Ministry of Economy informed that the limit for credit operations with Union guarantee was increased to R$7.5 billion ($1.3 bn). For the operations without federal guarantee, there was an increase to R$10.5 billion ($1.8 bn).

Source: Reuters

Vale will install energy storage system in RJ Terminal

Vale has signed a partnership to develop a battery energy storage system for its operations at the Guaíba Island Terminal in Rio de Janeiro, which will reduce the cost of energy at the port by 20%. The new equipment has the capacity to store 10 MW/H, enough to supply 45,000 homes for one hour. The company said in a note that the technology is an important step in the company’s decarbonisation process.

Source: Isto É