Category: Macroeconomy/Finance

Information regarding Brazil’s finance sector and the country’s macroeconomy.

Lindal Group to start contruction of $25mn landmark facility in Brazil

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.

Brazilian soybean exports could hit 9 million mt in February, up 80% on year: Conab

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.

Brazil oil workers clash with Petrobras in 18-day strike

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.

Brazil analyses a $5bn bi-national hydroelectric power plant with Bolivia

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.

General Price Index slows in February from 1.07% to 0.01%

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 ROU above 18% and asset management sale

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.