Industrial production in Brazil falls 2.4% in March, says IBGE

Brazilian industry ended the first quarter with falling production in March, pressured by vehicles at a time of intensified restrictive measures due to the resurgence of the Covid-19 pandemic in the country. In March production fell by 2.4% compared to the previous month, according to the Brazilian Institute of Geography and Statistics (IBGE).

Source: Money Times

Bradesco announces $45 bn to social and environmental initiatives

Bradesco has announced the goal of directing R$250 billion ($45 bn) to sectors and assets of positive socio-environmental impact through its businesses by 2025. The goal, according to the bank, considers the granting of credit for activities classified as having a positive contribution, financial products and services with a social and environmental focus for individuals and companies.

Source: UOL Economia

TIM sells 51% stake in fiber business for $472 mm

TIM Brasil has signed an agreement with IHS Brasil Participações for a partnership at FiberCo Soluções de Infraestrutura. IHS will hold 51% of the fiber-optic infrastructure company, which is focused on providing wholesale services, and TIM Brasil will hold the remaining 49%. HIS, a Nigeria-based telecoms infrastructure provider, will invest R$2.6 billion ($472 mm) for its stake in FiberCo. The new company will be responsible for the “last-mile” infrastructure, the final stretch to the client’s home.

Source: Valor International