The National Bank for Economic and Social Development (BNDES) has invited eight banks to broker the sale of part of its Petrobras portfolio shares through a public offering of secondary distribution. The operation is expected to be done by March. . The development bank owns about 19% of the preferred shares and 10% of the common shares (as voting rights) of the oil company, which today are worth about R $ 56 billion.
The federal government is considering compensatory mechanisms for a possible rise in fuel prices if the crisis involving the United States and Iran hits the international oil market any harder, said Mines and Energy Minister Bento Albuquerque after meeting with President Jair Bolsonaro. However, he practically ruled out the possibility of instituting some kind of subsidy.
Former senator and two-time governor of Matto Grosso, 63-year old billionaire Blairo Maggi, has been instrumental in the growth of Brazil’s agribusiness sector. He remains a leader of the “ruralist bench”, the agribusiness lobby that dominates Congress and supports President Jair Bolsonaro. In an interview with Al Jazeera, Maggi says that it is possible to increase Brazil’s agribusiness in a sustainable way.
Brazil’s President Jair Bolsonaro said on Thursday that a bill authorising mining on protected indigenous reserves was ready and only needed to be sent to Congress for consideration. Bolsonaro told supporters that indigenous people should also be allowed to commercially farm on reserves, a practice currently prohibited, and that native populations should be involved in a drive to expand the country’s beef production.
Brazil’s Economy Minister Paulo Guedes said he had reached agreement with Congressional leaders on modernizing the country’s complex tax system next year and one option could be taxing online transactions. Brazil has brought its snowballing public debt under control with reform of the costly pension system and spending cuts, he said, while interest rates are at record lows after the central bank cut its benchmark Selic rate to 4.50%.
The Amazon biome is 84% intact. Despite having peaked after 2012, deforestation rates fell by 72 per cent over the last 15 years. More recently, Brazil has regenerated in the Amazon alone an area larger than Scotland and replanted forests covering an area the size of Wales. Brazil is on track to meet its Paris Agreement nationally determined contribution (NDC).
At the end of November 28, the federal government published Decree number 10.139/2019, requiring a review of all regulatory acts in the country within a period of 18 months. What at first appears to be merely another administrative act without any great importance, could, in fact, have serious effects on the entire federal apparatus.
President Jair Bolsonaro said trade with Argentina “will remain the same” despite his animosity with President-elect Alberto Fernandez but didn’t confirm whether Brazil will send a high-ranking representative to his inauguration in Buenos Aires.
For several months, crude oil has been appearing along 3,000km of Brazil’s coastline, and yet its origins remain uncertain. Alongside the limited clean-up efforts, months of confusion about the cause of the spill have spurred criticism of the Brazilian government’s response. This said, the Brazilian Navy has since deployed 8,500 personnel, 30 ships and 17 aircraft in the clean-up operation. Whatever the true cause of the spill, the impact on the environment continues to be felt.
The Brazilian city of São Paulo is launching the country’s first cash rebate for international productions which will see qualifying projects with an minimum local spend of $500,000 will be able to access up to $2.5m.