The U.S. Commerce Department launched anti-dumping investigations into wood moulding and millwork product imports from Brazil and China worth about $500 million annually. Seven U.S. manufacturers has reported possible anti-dumping duties of 86.7% for products from Brazil and 181.2% to 359.2% from China. Preliminary results are expected on Feb. 24.
Brazil will have great business opportunities with Great Britain after its separation from the European Union on January 31, said the advisory minister of the Brazilian embassy in London, Robert Doring. The United Kingdom imports 50% of the food and beverages it consumes, 60% of them from the European Union and 4% from South America (2018).
Brazil’s federal public debt increased 9.5% in 2019 compared to the previous year, reaching a record R$ 4.248 million ($1.012 billion), the National Treasury Secretariat of the Ministry of Economy of Brazil reported. However, despite the increase, the 2019 Annual Financing Plan (PAF) was fulfilled, which established that the public debt could end last year between R$ 4.1 billion and R$ 4.3 billion.
Brazil may take advantage of low interest rates to issue a 20-year benchmark bond later this year if demand is sufficient, the country’s Treasury said, as it set out its 2020 debt forecasts and financing plans. Securities linked to the central bank’s benchmark Selic rate are expectred to account for between 40% and 44% of outstanding debt this year versus 38.9% last year, while fixed-rate securities will account for between 27% and 31%, compared with 31% last year.
Brazil’s state-controlled oil company Petroleo Brasileiro SA has hired seven investment banks to sell a stake in its fuel distribution unit, Petrobras Distribuidora SA (BRDT3.SA). Petrobras is working to reduce its hefty debt load by selling some $20 billion-$30 billion in assets over the next five years, among them the 37.5% stake in BR Distribuidora about $3 billion.
Brazil’s external accounts registered a deficit of $ 50.7 billion, the worst result in the last four years, according to information published by the Central Bank. The report says that the result was caused by the trade balance, which in 2019 was $ 13.6 billion below the amount recorded in the previous year. Brazil’s trade surplus decreased from $ 53 billion in 2018 to $ 39.4 billion in 2019, reflecting retractions of 6, 3% in exports and 0.8% in imports.
Brazil antitrust regulator Cade approved Boeing Co’s (BA.N) purchase of Embraer SA’s (EMBR3.SA) commercial aviation division without restrictions. Boeing has offered to pay $4.2 billion for 80% of Embraer’s commercial jet division. That puts it in direct competition with next-generation jets designed by Bombardier Inc (BBDb.TO) and acquired by Europe’s Airbus SE (AIR.PA). The deal is still under investigation pending regulatory approval in the European Union.
Brazil’s government has raised R$1.06 billion ($252 million) from a sale of shares in state-run Banco do Brasil SA carried out last week via the BNDES national development bank. The share sale had been included in the government’s asset disposal program unveiled last August, and was concluded on Thursday, the government said.
Brazilian state-controlled bank Banco do Brasil SA is planning reforms to better compete with private rivals, after President Jair Bolsonaro quashed an attempt by management to fully privatise it. The plan includes changing employment rules, maintain its dividend payout ratio, and forming partnerships with financial technology and other startups.
Oi (OIBR4) hired Bank of America to accelerate the sale of its participation in mobile telephony. The operators Vivo, Claro and Tim were informed of the operation with which Oi expects to obtain R$15 billion ($3.5 b). The announcement comes days after Oi (OIBR3) confirmed the sale of Unitel, its subsidiary in Africa, to Sonangol, for $1 billion.