Mining company Vale informed that a judicial decision established that the company must present guarantees worth about R$ 7.9 billion ($ 1.5 bn) by July 23 to ensure possible payment of fines for the Brumadinho (MG) disaster.
The Gross Production Value (GVP), which measures the revenues from agricultural activities, should reach R$746.2 billion ($143 bn) in 2020, 11.5% more than in 2019, according to the Brazilian Confederation of Agriculture and Livestock (CNA). For agriculture, CNA projects an increase of 16.2% in 2020 compared to last year, with gross revenues of R$478.2 billion ($91 bn).
Castlelake resource manager has plans to invest between R$4 billion and R$5 billion ($769 and $960 mm) in renewable energy in Brazil in the next five years, after closing the acquisition of the Queiroz Galvão construction company’s generation unit in the country. The investments will be made through Ibitu Energia and the objective is to double the installed capacity in the next five years.
Enel Brasil invested R$ 55 million ($10.5 mm) in projects and social initiatives in 2019, generating about R$9.5 million ($1.8 mm) in income for the communities where the company operates. The data outlines the financial and socio-environmental impacts and performance of Enel’s operations in the country, as well as the progress of the company’s goals with the Sustainable Development Goals of the 2030 UN Agenda.
The Gross Domestic Product (GDP) fell 10.5% in the quarter ended in May this year, compared with the same period last year. In comparison with the quarter closed in February of this year, the drop reached 9.4%. The data are from the FGV – GDP Monitor. Considering only the month of May, there was a 13.3% drop compared to the same month last year.
Caixa has reached the approved limit for the support programme for micro and small companies, Pronampe. In contracts signed and proposals in the final phase of analysis are already R$ 5.9 billion ($ 1.1 bn), the limit authorised by the Operations Guarantee Fund (FGO). With other credit lines […]
In the 2019/2020 harvest, rural credit in Brazil grew 30%, reaching R$ 225 billion ($ 43 bn), according to the Ministry of Agriculture. The resources are from the 2019/20 harvest plan, Agribusiness Credit Bills (LCAs), acquisitions of Rural Product Notes (CPRs) and operations with agribusiness.
After four months of pandemic, companies are beginning to collapse to cash flow shortages and the financial inability to pay all their debts. Last month, the number of judicial recovery requests grew 44.6% and the number of bankruptcies decreed, 71.3% compared to the same period in 2019, according to a survey by Boa Vista SCPC.
After two months of sharply declining, economic activity in Brazil recorded growth in May. The IBC-Br rose 1.31% in May, compared to April this year, according to data released by the Central Bank (BC). Under the effects of the covid-19 pandemic, the IBC-Br fell 9.45% in April and 6.14% in March, compared to the previous month.
As a result of the economic effects of the new coronavirus pandemic, Brazilian exports to the United States are expected to fall between 20% and 25% by 2020, predicts Amcham, the U.S. chamber of commerce in Brazil. Imports from the U.S., on the other hand, are expected to […]