Brazilian unemployment insurance claims fell 18.7% in August

New unemployment insurance claims in Brazil fell sharply in August. New claims totaled 463,835 in August, economy ministry figures showed, down 18.7% from the month before and down 18.2% from August last year. This marks the third consecutive monthly fall in new claims since the record of nearly 1 million in May, although the total 4.99 million claims in the first eight months of this year is still up 7.5% on the same period a year ago, the ministry said.

Source: Reuters

Brazilian retail sales increase 5.2%, the highest in six years

Brazilian retail sales in July surged to their highest in almost six years, official figures showed, as the continued easing of lockdown measures across the country fueled another strong monthly rebound in activity. The 5.2% rise in retail sales excluding cars and building materials last month was more than four times the median forecast of a 1.2% rise in a Reuters poll of economists. On an annual basis, sales rose 5.5% in July compared with the same month last year, statistics agency IBGE said, more than double the 2.2% rise economists in the Reuters poll had expected.

Source: Reuters

Latin America is emerging as a green powerhouse with Brazil generating 50 GW

Latin America is emerging as a green powerhouse. With auctions already adopted throughout Latin America, Rystad Energy expects the region’s 49 GW of renewable capacity will skyrocket to 123 GW by 2025, with one the biggest increases coming from Brazil. Brazil has generated a mammoth 50 GW. With prices dropping to the mid-$20’s per MWh, and even as low as $18 per MWh in Brazil, auctions are likely to move forward in most countries despite pandemic-related delays.


Cement sales in Brazil increase 13.6% in August

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.

Source: CemNet

Brazil administrative reform to generate at least $57 bn savings over 10 years

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.

Source: Reuters

Brazil judge denies prosecutors’ request for urgent removal of Vale executives

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.

Source: Nasdaq

Urbanization and agriculture are land uses that most affect Brazil’s rivers

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.