The government accounts registered a deficit of R$ 96.096 bn ($17 bn) in August, the worst performance in the historical series, which began in 1997. In 12 months to August, the government presents a deficit of R$ 647.8 bn ($118 bn), equivalent to 8.96% of GDP.
Source: Isto É
Month: September 2020
Fund has $68mm to finance strategies in CLFI for Brazilian producers
The Sustainable Agriculture Finance Facility (SAFF) will offer to Brazilian producers credit to adopt or expand the use of Crop-Livestock-Forestry Integration (ILPF) strategies. In the first year, it will provide $68 million in funding, of which $62 million in producer credit and $6 million to finance certification programmes, research, technology transfer, technical assistance and certification.
Source: Agencia Estado
Mining investment in Brazil expected to reach $40 billion
Investments in mining in Brazil over the next five years are expected to reach around $40 bn, said Wilson Brumer, chairman of the board of the Brazilian Mining Institute (Ibram). According to him, Brazil has enormous potential to be developed, and the expansion of mineral research by the National Mining Agency (ANM) allows the sector to raise its investment projections.
Source: UOL Economia
IRB Brazil: governance changes awarded AAA rating
SP Global has given the IRB Brazil a national AAA rating. According to S&P, recent changes in the board and management will strengthen governance and improve the culture of risk. The new board and CEO are expected to implement changes to improve governance and transparency, improve risk culture and strengthen risk controls and compliance, it says.
Source: Money Times
Copel invests $6.9 mm to double capacity in Parana
Copel announced an investment of R$38 million ($6.9 mm) to expand the power substation located in the municipality of Guaíra. According to the company, the intervention will double the unit’s transformation capacity. The project will increase the unit’s transformation power from 300 to 600 MVA and will integrate a new transmission trunk planned by the Energy Research Company (EPE).
Source: Canal Energia
São Paulo Trade Balance exceeds $8 bn
From January to August 2020, São Paulo’s agribusiness showed a new increase in exports (+10.7%), reaching $11.10 bn, and a reduction in imports (-13.9%), totaling $2.73 billion; with these results, a surplus of $8.37 billion was obtained (+22%), when compared to the same period in 2019, reports the Secretariat of Agriculture and Supply, through the Institute of Agricultural Economics (IEA).
Source: Portal Agronegocio
VTEX receives $227 mn contribution and becomes the new Brazilian unicorn
VTEX, a Brazilian company in the e-commerce solutions sector, announced that it raised R$1.25 billion ($227 mm) in a round of D-series financing, which yielded a valuation of $1.7 billion, making it Brazil’s newest unicorn, a category of startups that are valued at more than $1 billion.
Source: UOL Economia
Sao Paulo industry rises 3.3%
São Paulo industry activity measured in hours worked in production grew 3.3% in August compared to July, according to a Fiesp survey. The Level of Capacity Utilisation (Nuci) grew 2.4 percentage points to 76.9%, the highest level since June 2015 (77.54%).
Source: Infomoney
FreteBras receives $17 mm from IDB Invest
FreteBras, the online cargo transportation platform FreteBras announced that it has received an investment of $17 mm from IDB Invest, the division of the Inter-American Development Bank (IDB). FreteBras presents itself as the largest digital cargo transportation platform in Latin America having intermediated 2 million freights in the first semester, 50% more than a year earlier.
Source: Reuters
Icon Energia to build 15 solar power plants in Minas Gerais
Icon Energia announced that it will build 15 photovoltaic plants by 2022, with investments of more than R$ 120 million ($22 mm) and a total installed capacity of 50 megawatt-peak (MWp). The projects are to be installed in the north, the mining triangle and the central-west of the state. The company’s focus is on serving condominiums and commercial establishments.
Source: Portal Solar
