Central Bank anticipates production of $ 1.6 bn in banknotes

The Central Bank (BC) anticipated for this month a request for the production of banknotes, in the amount of R $ 9 billion ($ 1.6 billion), for the Casa da Moeda. This production was already foreseen in the annual schedule, but the advance was necessary to avoid the lack of bills. Since the beginning of the covid-19 pandemic, the BC has observed that there is “hoarding” of money in the country.

Loan to support electricity companies will involve up to $ 2 bn

An operation under evaluation by the government to support energy distributors due to the impacts of the coronavirus pandemic on the sector should involve loans of up to R$ 12 billion ($ 2 billion) to electricity companies, according to current estimates. Financing is expected to be amortized over approximately 60 months, with payments by the end of 2025.

JHSF’s profit grows and totals $ 3.2 mm

JHSF ended the first quarter of 2020 with a net profit of R$ 19 million ($ 3.2 mm), according to the financial result disclosed by the company. The value grew 61.1% compared to the same period in 2019. Net revenue also rose 35.8% with a total of R$ 166.9 million ($ 28.7 million) compared to R$ 122.9 million ($ 21 million) in the same three months last year

Cyrela has net income of $ 8.2 mm in the quarter, down 21.44%

The construction company Cyrela reported net income of R $ 48.235 million ($ 8.2 million) in the first quarter of 2020. The amount represents a 21.44% decrease in comparison with the net profit of R$ 61.400 million ($ 10.5 million) in the same period of the previous year. The company also recorded net income attributed to the controllers of R$ 27.934 million ($ 4.8 million).

Senate approves MP that releases $ 1.5 billion to fight Coronavirus

The Senate approved the Provisional Measure that extinguishes the monetary reserve fund and allocates the resources, about R$ 9 billion ($ 1.5 billion), to fight the Covid-19. The proposal goes to the sanction of President Jair Bolsonaro. The text expects that the money will be distributed in the proportion of 50% for states and 50% for municipalities according to rules to be stipulated by the federal government.

Petrobras will pay $ 472 mm to consortium members

Petrobras informs that it has signed the Spending and Volume Equalisation Agreements (AEGV) with the respective consortium companies of the shared deposits of Lula, Atapu and Sépia, in Rio de Janeiro. As a result of the process, the company will pay the consortium members and their affiliates the approximate net amount of $ 472 million, which will occur in the second quarter of 2020.

Ultrapar has a 31% drop in profit in the 1st quarter, to $ 28 mm

Ultrapar recorded net attributable to the company’s shareholders of R$ 160.9 million ($ 28 million) in the first quarter, down 31% compared to the R$ 233.7 million ($ 40 million) recorded a year earlier. Despite the improvement in operating performance, the company ended the quarter with a net financial expense of R$ 168 million ($ 29 million), compared to revenue of R$ 1 million ($ 173 k ) in the same period of 2019.

Government revises estimate for GDP in 2020 to fall 4.7%

The federal government revised the official estimate for the Gross Domestic Product (GDP) of 2020 and started to forecast a fall of 4.7%. The number was released by the Ministry of Economy on Wednesday (13) through the 2020 budget revenue and expenditure report. The previous forecast, released in March, at the beginning of the crisis generated by the new coronavirus pandemic, was that the economy would grow by 0.02% this year.