Eletrobras recorded net income of R$1.6 billion ($307 mm) in the first quarter, a figure 31% higher than the same period in 2020, according to a balance sheet released. The EBITDA showed annual growth of 11%, staying at R$ 3.8 billion ($730 mm). The net operating revenue increased by 8%, reaching R$ 8.2 billion ($1.6 bn).
Source: G1 Economia
In a two weeks of operation, the programme to temporarily reduce wages and suspend work contracts during the pandemic of the new coronavirus (covid-19) has helped preserve 1,543,441 jobs. According to the Ministry of Economy, 384,682 employers have joined the programme. Contract suspension agreements represent 41.4% of the total, which is equivalent to 638,893 jobs. In this modality, employees receive 100% of unemployment insurance while their employment contract is suspended.
Source: Agencia Brasil
The National Bank for Economic and Social Development (BNDES) had profits of R$ 9.8 billion ($1.8 bn) in the first quarter of this year, up 78% compared to the same period last year. In the report, the BNDES detailed that the positive result was driven by the sale of equity and financial intermediation.
Source: Valor Investe
One of the biggest auditoria and consulting companies of the world, Grant Thornton has settled partnership with the Brazilian risk classification and governance agency BR Rating. Together, the two companies should act on the analysis of the corporate governance level and on the structuring of strategic planning to assure the business integrity.
The bank Barclays has revised upwards its projections for the performance of the Brazilian economy in the first two quarters of the year and also for 2021. The institution now sees gross domestic product (GDP) growth of 0.8% in the first quarter over the final three months of 2020, well above the previous forecast of a 0.3% decline.
Source: UOL Economia