Brazil is on track to pierce its spending ceiling by 2% GDP this year, Citi economists have warned, predicting that the government will significantly ease its fiscal policy to tackle the Covid-19 pandemic. The cap limits the growth of public spending to the previous year’s inflation rate and is widely seen as the government’s most important fiscal rule.
Source: Money Times
The consortium Via Mobilidade, led by CCR, won the auction for the concession of lines 8-Diamante and 9-Esmeralda lines of the Metropolitan Trains Company of São Paulo (CPTM), with an offer of R$ 980 million ($175 mm), a premium of about 202% on the minimum value. The concession and foresees investments of R$3.35 billion ($600 mm) over the 30-year contract, of which R$2.6 billion ($463 mm) in the first six years.
Source: 6 Minutos
Echoenergia Participações announced the issuance of R$ 142 million ($25.3 mm)in green debentures, related to the wind power projects in Serra do Mel II (RN). The offering was coordinated by UBS BB Investment Bank and XP Investimentos, and is certified as a green bond, which guarantees that the resources are directed to sustainable initiatives.
Source: Canal Energia
IBGE released the data from the Continuous Pnad that researched access to Information and Communication Technology (ICT). According to the figures the percentage of Brazilian households that have access to the internet rose from 79.1% to 82.7% from 2018 to 2019, representing a rise of 3.6 percentage points. Even so that year 12.6 million did not have access. The main reasons given for the difficulty in connecting are lack of interest, expensive service and the fact that no resident in the household knows how to use the technology.
Source: Portal do Agronegocio
The Inter-American Development Bank (IDB) has approved a $1 billion credit line to finance projects that improve digitalisation and connectivity in Brazil. The objective is to promote initiatives that increase the use of technology in the production and availability of public services. The resources of the “More Digital Brazil” line may be accessed by the Union, States and municipalities, as well as small companies, through development banks.
Source: UOL Economia
Itaú Unibanco said it raised $400 million with the United States International Development Finance Corporation (DFC) to expand credit to small and medium-sized companies. According to the bank, the supply of loans will focus on regions such as the North and Northeast of Brazil, and companies that are majority controlled or led by women.
Source: UOL Economia
The sales of biological pesticides industry should grow 33% this year, to R$1.79 billion ($320 MM), estimated on Monday the entity that represents the sector CropLife, highlighting an advance in the participation of soybeans, a crop that already leads this market in value.
Source: R7 Economia
The Secretariat of State for Family Agriculture (SAF) of the government of Piauí invested R$ 1.44 million ($250k) in 18 projects for the implementation of photovoltaic systems. Almost 2 thousand families were benefited with this initiative that aims at reducing production costs for small rural producers. The main investments are through the Project Live the Semi-Arid (PVSA) and the Employment Generation Program.
Source: Energia Hoje
After a speech at the swearing-in ceremony of Petrobras’ new CEO, Joaquim Silva e Luna, the company’s shares soared this afternoon. Petrobras gained more than R$20 billion ($3.6 bn) in market value during the trading session. At 4:05 pm, the company’s value reached just over R$318 billion ($57 bn), compared to R$297 billion ($53 bn) at Friday’s close.
Source: Valor Investe
Brazil’s trade balance posted a $3 billion surplus in the third week of April, bringing the accumulated positive balance for the month to $6.310 billion, the Economy Ministry said. In the month, exports totalled $15.381 billion, with $6.844 billion in the third week. Imports, meanwhile, reached $9.071 billion for the month, after totalling $3.840 billion in the last week.
Source: Money Times