Category: Business

Information regarding the business sector

CPFL directs $1.5 mn in incentives to exchange electric motors

Companies in São Paulo and Rio Grande do Sul, which exchange old engines for more efficient technologies, may have a bonus of up to 40% in the acquisition of the new model. This is the motto of an action developed by CPFL Energia in partnership with the manufacturer Weg. The energy company will invest R$8.1 million to CPFL Paulista, CPFL Piratininga, CPFL Santa Cruz and RGE.

BNDES approves $39 mm for new wind farm

BNDES announced the approval of a financing in the amount of R$208 million ($39 mm) for the implementation of the Ventos de Santa Martina 14 wind farm in Rio Grande do Norte. According to the institution, the financial support stimulates the diversification of the Brazilian energy matrix through a clean and renewable source. The complex that spans three municipalities in the state will have a total installed capacity of 504 megawatts (MW).

Petrobras breaks record of 664,000 barrels per day

Petrobras informed, in a statement to the market, that the P-74 to P-77 platforms of “Campo de Búzios” reached record production, on June 27, of 664 thousand barrels of oil per day and 822 thousand barrels of oil equivalent per day. The Búzios Field is in the Santos Basin pre-salt.

Sales drop 90% which affect one third of merchants in Sao Paulo

A survey by the Brazilian Association of Shopping Tenants (Alshop), carried out between June 24th and 26th, found that sales dropped 90% which affects one third of merchants in the state of São Paulo due to the effects of the pandemic. The value obtained by sales was reduced by up to 80% for 41% of the retailers and by up to 70% for 24% of them.

Petrobras offers up to $1.8 million to finance startups

The Petrobras Connections for Innovation Program, in partnership with Sebrae, offers resources of up to R$10 million ($1.8 million) for projects in nine technological areas: digital technologies, robotics, energy efficiency, catalysts, corrosion, carbon reduction, geological modelling, and water inspection and treatment technologies. The goal is to utilise the innovative products in Petrobras’ operations.

Crisis leads 20,000 stores to close in the capital

Approximately 20 thousand stores have ended their activities in the capital of São Paulo since March, when the social distance started due to the pandemic. The number represents 10% of the total of commercial establishments in the city of Sao Paulo. Fecomercio estimates that, in the capital alone, the trade lost almost R$17 billion ($3.2 bn) between March and June.

Morgan Stanley increases shareholding in CESP to 5%

Morgan Stanley increased its shareholding in CESP to 5%, shows a document sent to the market this Friday (19). As a result, the bank now holds 10 million shares in the electricity company. In addition, Morgan Stanley reported that the operations are not intended to change the composition of the controlling interest or the administrative structure of the company.

European investors threaten Brazil divestment over deforestation

Seven major European investment firms told Reuters they will divest from beef producers, grains traders and even government bonds in Brazil if they do not see progress in resolving the surging destruction of the Amazon rainforest. The rising threats from investors with more than $2 trillion in assets under management, including Finland-based Nordea and the UK’s Legal & General Investment Management (LGIM), show how the private sector is taking global action to protect the world’s largest rainforest.