A thermoelectric power plant fed by pig excrement is providing electricity to 62 of the 71 public buildings of Entre Rios do Oeste, a town in southern state of Paraná. Pig excrement had become an environmental threat, but the installation in 2006 of a biodigester, an airtight container […]
The General Price Index-10 (IGP-10) had a positive change of 0.01% in February, after increasing 1.07% in January, according to data released today by Fundação Getulio Vargas (FGV). With this result, the index accumulated an increase of 1.08% in the year and 7.39% in 12 months. In February 2019, the index had registered an increase of 0.40% in the month and an increase of 6.98% in 12 months.
Banco do Brasil expects to post a return on equity above 18% this year and a net income between R$18.5bn and R$20.5bn after reporting Q4 profit rose by a fifth to R$4.62bn ($1.06bn). CEO Rubem Novaes, who has pushed unsuccessfully to privatise the entire bank, said that the lender will likely raise “billions of reais” from the sale of at least 51% of the lender asset management unit.
Banco do Brasil recorded a net book income of R$18.16 billion in 2019, this is an increase of 41.2% compared to 2018. In Q4, net income was R$5.69 billion, an increase of 49.7% compared to the same period of 2018 and an increase of 33.8% compared to Q3. Among largest banks, Itaú was the one that registered the greatest benefits in 2019, with earnings of R$26.583 billion, an increase of 6.4% compared to 2018, the highest nominal annual result (not adjusted for inflation) ever recorded by Brazilian banks.
Brazilian President Jair Bolsonaro on Wednesday hosts Argentina’s Foreign Affairs Minister Felipe Solá, who will also meet his counterpart Ernesto Araújo. They will discuss bilateral trade, the Mercosur customs union and Venezuela, according to official sources. Relations between the two key trade partners worsened late last year as Bolsonaro’s far-right administration clashed with Alberto Fernandez’s left-leaning government.
Corn production in Brazil is pegged at record 100.5 million mt in 2019, according to the monthly crop survey published by national agricultural agency Companhia Nacional de Abastecimento (Conab). Corn prices in the Mato Grosso, the largest grain producer in the country, rose to Real 37.69/60 kg ($8.72/60 kg) as of the week ended February 7, up 76.5% on the year. The agency also pegged domestic consumption at 70.5 million mt against 65.2 million mt in 2018-19.
Capital outflows from Brazilian asset markets and the real’s slide to new all-time lows against the U.S. dollar pose little threat to Brazil’s sovereign credit profile, ratings agency Moody’s said on Monday. Moody’s has a Ba2 rating on Brazil, with a stable outlook. Source: Reuters
Fomenting biogas production among agricultural producers may seem at first glance to be a distraction from the purpose of Itaipu – the world’s second largest hydroelectric power plant shared by Brazil and Paraguay – but in fact it is part of their energy business strategy. The efficiency of Itaipu has been proven by the record amount of electricity generated: 103 million megawatts/hour in 2016, which exceeds the best performance of China’s Three Gorges power plant, whose installed capacity is 60.7 percent higher.
The U.S. Department of Commerce reported its decision to remove Brazil from the list of developing countries, which may restrict trade benefits granted to nations in this category. Some practical consequences for Brazil may include the end of the unilateral exemption of export tariffs by the Generalized System of Preferences (GSP), the right to partial trade agreements with other developing countries, and part of the loans from the World Bank.
The price of the main products exported by Brazil plummeted after the outbreak of coronavirus in China, the main buyer of Brazilian products, according to BMJ Consultores Associados. Since the second half of January, the price of soybeans fell 5.13%, that of oil 15.5% and iron ore 14.3%. These three products accounted for 78% of Brazil’s foreign sales in 2019, which totalled $177.3 billion