The Brazilian government expects up to R$70 billion ($13.2 billion) to be invested in micro and mini distributed generation (MMDG) systems by 2030, for a total capacity of 24.5 GW, according to its most optimistic projections.
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.
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.
This year’s fire season is worse than usual in Brazil’s Amazon region, where fires have begun spreading into areas of virgin forest. During the first week of September, more than 8,000 blazes were reported, about one-quarter of which are in virgin areas that have not been cleared or used as farmland.
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 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.
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.
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.
Brazilian pet store chain Petz, controlled by U.S. private equity firm Warburg Pincus, raised R$3.03 billion ($570.71 million) in an initial public offering, according to a securities filing. The company priced its shares at R$13.75 in the offering.
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.