Brazilian President Jair Bolsonaro said on Twitter on Friday that he will be discussing the potential opening of a Tesla plant in Brazil during his trip to the United States in March, among other issues. On Thursday, Eduardo Bolsonaro, President’s son and lawmaker said he participated in a video conference with the Minister of Science and Technology, Marcos Pontes, and the minister-adviser of the US embassy, William Popp, to discuss the attraction of Tesla’s investment.
Brazilian supermarket chain GPA SA, controlled by French retailer Casino Guichard Perrachon SA, could sell more than R$3 billion ($683.99 million) in assets in the coming months, its CFO Christophe José Hidalgo said after weaker-than-expected quarterly results hammered its shares. They may include real estate assets, gas stations and even operations in Argentina or Uruguay. His remarks come as consolidation intensifies in Brazil’s food retailing amid fierce competition from regional players and GPA’s largest rival Carrefour Brasil SA.
Brazil’s government is trying to fight off a move by some lawmakers to grant the central bank autonomy and force it to target growth as well as inflation. Opposition lower house deputies plan to present an amendment to the autonomy bill that would set an additional target for the central bank – either employment or growth level – alongside its mandate to keep prices stable. The autonomy bill is ready to be put to a vote in the lower house.
Petrobras posted a net profit of R$40.137 billion ($9.2bn) in 2019, a 55.7% increase over the amount recorded in 2018. The figure also represents the highest nominal profit in the history of capital companies according to Economatica. In Q4 alone the net profit was R$8.153 billion – an increase of 287.87% over the same period the previous year.
Global aerosol dispensing company, LINDAL Group has held a ground-breaking ceremony marking the start of construction for its $25m landmark facility in Brazil, a project which represents the company’s largest investment to date. Work began at the Industrial Park in Jundiai, SÃo Paulo where a formal gathering was attended by Mayor of Jundiai, Luiz Fernando Machado, and LINDAL representatives, including; CEO Francois-Xavier Gilbert, and Managing Director of LINDAL Brazil, Moacir Camargo.
Brazil is the world’s largest soybean producer and exporter. According to agricultural consultancy AgRural, Brazil’s soybean harvest reached 21% of the projected area of 36.4 million ha in the 2019-20 crop year (September-August) as of February 13, up 5 percentage points week on week on favorable weather in the key producing states of Mato Grosso, Goias and Mato Grosso do Sul.
RIO DE JANEIRO, BRAZIL – According to reports in the NSC Total column, the Minister of Science, Technology, Innovation and Communications, Marcos Pontes, is negotiating with federal Deputy Daniel Freitas the installation of a Tesla plant in Brazil.
Brazilian oil workers and oil giant Petrobras are locked in a power struggle over plans to shift focus away from non-core assets, with a federation of unions saying that 21,000 employees in 13 states (60% of the company’s workforce) are on strike indefinitely. Petrobras did not confirm those numbers but said it has been able to maintain oil and gas production levels and meet fuel demand across the country by bringing in temporary workers on emergency contracts.
Itaú Unibanco and Bradesco, Brazil’s two largest banks, maintain their estimates of 2.2% to 2.5% Brazil GDP growth this year, although they warn that the next two months will be crucial for the government. This is due to the below-expected productive activity in December and slightly contradictory economic indicators in January.
Brazil is studying the construction of a bi-national hydroelectric plant with Bolivia on the Mamoré river (northwest of the country) at a cost of $5 billion, said the Brazilian general director of Itaipu Binacional, general Joaquim Silva e Luna. In the next three years, Itaipú Binacional will have its debt settled for the construction of its plant, which will release about $2 billion annually, half for Paraguay and half for Brazil, which can count on this money to invest in the construction of the new central, he said.