Category: Business

Information regarding the business sector

JBS profit exceeds projections

JBS, the world’s largest meat processor, on Wednesday posted a net profit of R$ 2.43 billion ($480 million) for the fourth quarter of last year, a jump on the approximately R$ 560 million ($ 110 million) obtained a year earlier and higher than expected by analysts. The performance was supported by strong demand from China, which increased food imports after the African swine fever epidemic that hit its herd.

Gol reduces air network to 50 daily flights

Gol announced that due to the pandemic of the new coronavirus (covid-19) in Brazil and worldwide, that between March 28 and May 3, it will keep in operation only the essential network of 50 daily flights, connecting all the capitals of the Brazilian states from the international airport of São Paulo, in Guarulhos (GRU).

BNDES suspend loan collection for 6 months

The BNDES announced on Sunday (22) the suspension of collection of loans for 6 months due to the coronavirus. Sectors such as Oil and Gas, Airports, Ports, Energy, Transport, Urban Mobility, Health, Industry and Commerce and Services will be served by the action, totaling R $ 30 billion ($ 6 billion), of which R $ 19 billion ($ 3.8 billion) for direct operations and R $ 11 billion ($ 2.2 billion) for indirect operations.

Car industry will close plants in Brazil

Vehicle industries have already announced that they will close factories at the end of the month due to the pandemic of the coronavirus and the market demand. The three main companies that have already confirmed collective holidays and together employ almost 50,000 employees. In addition to paralysing the production of five Brazilian factories indefinitely (in São Paulo, Rio Grande do Sul and Santa Catarina), General Motors suspended the investment of R$ 10 billion ($ 2 billion) planned for the period from 2020 to 2024.

Brazilian airlines will have a longer period to reimburse cash for tickets

The measures announced by the federal government to minimize the impact of the new coronavirus pandemic on Brazilian commercial aviation are positive, evaluates the president of the Brazilian Association of Airlines (ABEAR). Among the emergency measures announced are a longer period for airlines to reimburse cash for tickets, the postponement of airport fares and airport grants.

Odebrecht Closes Agreement for $10bn

The company was expected to update its judicial reorganization plan. The reorganization procedure is expected to be voted at a general meeting this month. Odebrecht, one of the main symbols of Operation Lava Jato, reached an agreement with its main creditor banks to restructure more than R$50 billion ($10 billion) in debt.

Coronavirus: companies may cut hours and wages by half

In addition to allowing the payment of taxes and contributions to be postponed, the government wants to allow companies affected by the coronavirus crisis to temporarily cut half the workday and workers’ wages. According to the Ministry of Economy, the measure is important to avoid layoffs and job losses caused by the fall in economic activity. The negotiation will be individual.

American Airlines cancels all flights to Brazil until May

American Airlines decided to suspend 75% of its international flights, including all routes to Brazil, for 51 days, counting from this Monday (16). The decision comes in response to the decreasing demand for flights and amid restrictive measures adopted by the American government due to the advancement of the coronavirus. The country closed its borders to European countries and recently declared a state of national emergency.

Biotechnology Center wants to create new industrial pole in Amazonas

The Amazon Biotechnology Center (CBA) wants to enable the creation of a new industrial pole in the state of Amazonas. The idea is to bring together, in a structure similar to that of the Manaus Free Trade Zone, companies that add value to products that have, as raw material, the region’s biodiversity. The Amazon Biotechnology Center has, among its main objectives, to develop new technologies based on integrated research, which will be carried out directly and indirectly by a network of regional and national laboratories.