Costa Rica, Uruguay and Brazil, lead the Latin American sustainability ranking prepared by América Economía Intelligence considering seven dimensions: greenhouse gas emissions, energy matrix, biodiversity and forest management, agricultural pollution, water resources management, air quality in urban areas and environmental taxes. Bolivia, Peru and Paraguay are at the end of the list of eleven countries studied.
Carrefour Brasil SA expects to keep capital expenditure to convert 30 stores acquired from smaller rival Makro into its Atacadão wholesale format below R$300 million ($68.41 million). After local antitrust regulator Cade approves the recent acquisition, it should take three to six months to reopen each store as Atacadão, Roberto Müssnich, who leads Carrefour Brazil’s wholesale unit said.
Brazil presented on Sunday to the financial G20 meeting in Riyadh its ‘Programa Verde Amarelo’ (Yellow Green Program) with which the Jair Bolsonaro government seeks to generate 1.8 million jobs in three years for young people aged 18 to 24. This represents a 2% increase in the employed population and a projected reduction of more than 30% in labour costs for companies, said the Secretary of International Economic Affairs, Erivaldo Gomes, replacing the Minister of Economy, Paulo Guedes, who did not attend the meeting in Saudi Arabia.
The president of the Swiss bank UBS in Brazil, Sylvia Coutinho, estimates that Brazil “has the largest environmental assets on the planet” and conditions to assume a global role in “green finance.” Capital is looking for these environmental assets, as warned at the World Economic Forum in Davos, and I think the government took note of this message, so we must learn to monetise our environmental assets, she said.
The U.S. has reopened its doors to fresh beef from Brazil after a more than two-year ban, in a significant win for President Jair Bolsonaro ahead of a scheduled meeting with Donald Trump in March. Brazil can now begin shipping raw meat from cattle slaughtered from Feb. 21, according to a letter sent by the Food Safety and Inspection Service to the Brazilian minister. The U.S. suspended imports in 2017 after finding meat containing blood clots and lymph nodes. In 2016, sales of fresh Brazilian beef to the United States totalled $284 million.
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 state-owned lender Caixa Economica Federal is partnering with the world’s largest payments network Visa Inc to issue debit and credit cards, it said on Friday. The partnership comes as Caixa revamps its card business prior to selling a stake the newly created company, Caixa Cartoes. Caixa had 109.3 million debit and credit cards issued to clients in December, up 6.2% from a year earlier. Payments with Caixa cards totaled 210.8 billion reais ($47.97 billion) last year.
Amaggi, the Brazilian soybean group owned by entrepreneur-turned-politician Blairo Maggi, is in advanced talks to buy the local unit of Argentina’s El Tejar (O Telhar) to capitalise on increasing crop demand from China. The proposed acquisition, yet to be confirmed by both companies, would encompass all assets in Brazil, including about 70,000 hectares (173,000 acres) of farming land, cotton mills, warehouses and machinery.
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.