Cement sales in Brazil continued to rise in August with a 13.6% year-on-year (YoY) increase to 5.7Mt, reported the country’s cement association, SNIC. Per working day, sales reached 244,400t, representing a YoY increase of 18.5%. The central-western region saw sales up 25.3% YoY to 728,000t while in the northeast and north sales advanced to 1,197,000t (+23.9%) and 268,000t (+22.9%), respectively. In the south, sales were up 11.6% to 936,000t. In the southeast, the increase was more modest at 6.7% to 2.615Mt.
The Brazilian government’s administrative reform proposals to simplify and reduce the cost of the public sector will generate at least R$300 billion (($57 billion) of savings over the next decade, according to Economy Minister, Paulo Guedes. This was the first estimate of how much the wide-ranging reforms will save the public purse. The government presented its constitutional reform bill to congress last week, the first of a three-part legislative process. Officials said savings forecasts would come when second and third phases of guidelines on salaries are presented.
A Brazilian federal judge has denied an immediate legal intervention request from prosecutors who filed an injunction last week for the urgent removal of top Vale SA executives in charge of safety and to suspend dividend payments, according to a court filing. The judge based in Minas Gerais state said it would be inappropriate to decide on the injunction request before the Brazilian mining company had a chance of defending itself.
Brazilian pet store chain Petz, controlled by U.S. private equity firm Warburg Pincus, raised R$3.03 billion ($570.71 million) in an initial public offering, according to a securities filing. The company priced its shares at R$13.75 in the offering.
Brazil has more freshwater than any other country, but this resource is dwindling because of climate change, rising consumption and inadequate treatment. Brazil’s rivers are increasingly polluted due to a lack of proper land use planning. Agriculture and urbanization are the main culprits, closely followed by mining. Although mining occupies a small percentage of Brazil’s territory, it has a huge impact on water quality, according to a literature review by a group of researchers published in Journal of Environmental Management.