The federal government will pay debts of R$1.815 billion to the United Nations (UN) and the BRICS bank (a group comprising Brazil, Russia, India, China and South Africa) by the end of the year. On the other hand, it will no longer honor commitments to the Latin American Development Bank (CAF), the Inter-American Investment Corporation (IDB Invest), the Financial Fund for the Development of the La Plata Basin (FONPLATA), and the International Development Agency (IDA).
The incorporation of Colombian Almacenes Éxito into the Pão de Açúcar Group (GPA) provides positive results on all fronts said the company’s president Peter Estermann. Over the 12 months up to September, Pão de Açúcar Group (GPA) revenues in Brazil reached R$53 billion; operations in Colombia with the Éxito Group totaled R$18 billion.
Brazilian retail sales rose in October for the sixth month in a row, official figures on Wednesday showed, although the pace of growth slowed to just 0.1%, suggesting the consumer started the fourth quarter on a cautious footing. That was below the 0.3% median increase forecast in a Reuters poll of economists, and the lowest month-on-month rise since May, figures from government statistics agency IBGE showed.
XP Inc., Brazil’s largest brokerage by equity-trading volume, raised $1.96 billion in its U.S. initial public offering, pricing its shares above the marketed range. The company and its existing shareholders sold 72.5 million shares Tuesday for $27 each after offering them for $22 to $25, according to a statement. That gives XP a market value of about $14.9 billion based on the outstanding shares.
A top White House adviser cast doubt on President Trump’s statements last week that he intended to immediately place steel and aluminum tariffs on Argentina and Brazil. The White House is considering the action, Lawrence Kudlow, the director of the White House National Economic Council, said at The Wall Street Journal CEO Council meeting on Tuesday, but the U.S. might not move forward with the tariffs.
Shares in Brazilian telecoms Oi and Telefonica Brasil SA fell sharply in early trade on Tuesday, dragging the sector lower, after they were cited in the latest phase of the country’s sweeping Car Wash corruption probe. Oi’s preferred shares fell as much as 4.8% .
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.
Vehicle Sales totaled 2.53 million units from January to November, representing an 8.3 percent increase compared to the same period last year, says National Association of Motor. In November, the number of vehicle registrations reached 242,300, corresponding to a drop of 4.4 percent over October and a rise of 4.9 percent over November of last year.
Revenue from the electro-electronic industry should end 2019 at R$154 (US$37) billion. According to the Brazilian Association of the Electrical and Electronic Industry (Abinee), despite the nominal growth of five percent compared to 2018 (R$146.1 billion), there was no real increase, since inflation in the sector, according to the Producer Price Index (IPP), also closed the year at five percent. Exports shrank five percent in 2019, from US$ 5.9 billion to US$ 5.6 billion. Imports rose one percent from US$ 31.8 billion in 2018 to US$ 31.9 billion this year.