Ratings agency Fitch kept Brazil’s long-term credit rating in local and foreign currency unchanged at BB-, as well as the “negative” outlook. In a report released earlier, Fitch reports that the country remains with high public debt, rigid fiscal structure, fragile economic growth potential and challenging political scenario, which makes it difficult to advance economic and fiscal reforms in the appropriate period of time.
Source: Valor Investe
Sales of São Paulo industries should grow by 10.2% this year, according to a survey conducted by the Federation of Industries of the State of São Paulo (Fiesp) and the Center of Industries of the State of São Paulo (Ciesp). Named São Paulo Industry Directions, the survey was conducted with 400 businessmen between May 6 and 14.
Source: G1 Economia
The creation of a free trade agreement between Brazil and India could result in a cumulative increase of $21 bn in Brazilian exports to India by 2035, favouring, among other sectors, the sugar chain. According to the study, the reduction of tariff barriers between the countries should benefit the volume of Brazilian exports.
Source: Money Times
Omega Energia, from the same group as the renewable energy company Omega Geração, will build until the end of 2023 wind or solar projects in Brazil with about 240 megawatts of capacity to meet the contract signed with the German company Bayer.
Source: UOL Economia
Eletrobras informed the market that its subsidiary CGT Eletrosul signed a contract for the acquisition of the remaining 49% of the capital stock of CEEE-T in Transmissora Sul Litorânea de Energia (TSLE). With the completion of the operation, CGT Eletrosul will hold 100% of the capital stock of TSLE, in which it was already a shareholder. The operation is conditional on obtaining the consent of TSLE’s creditors.
Source: Canal Energia