Entries by Gelcy Bueno

Analysts see Selic at 2% by end of 2020

Uncertainties over the future of the Brazilian economy will likely force the Central Bank’s Monetary Policy Committee (Copom) to keep Selic policy interest rate unchanged next week. This assessment is unanimous among the 76 financial firms heard by Valor, which also expect the Selic to be maintained at the December meeting, the last one in […]

Asia absorbs almost half of Brazilian exports

Almost half of Brazilian exports travel 50 days by ship to Asia. From January to September, Asian countries bought $76.2 billion in Brazilian products, or 48.7% of all exports, in comparison to 40.5% during the same period last year. Exports to Asia grew 10.9% in the period, while total exports dropped 7.7%, according to data […]

Brazilian GDP will grow 7.1% in third quarter

The Brazilian Institute of Economics of Fundação Getúlio Vargas (Ibre/FGV) now estimates that the country’s GDP will grow 7.1% in the third quarter due to a stronger economic activity recovery, an indication of a little less severe recession for the year. The previous projection was for an increase of 6.6%. With the revision, the expected […]

Foreign investors see opportunities in Brazil once again

After a record exit in recent months, foreign investors seem to be finding some opportunities in the Brazilian stock market. From October 1 to 19, they invested R$2.55 billion, according to data from stock exchange B3’s secondary market. Although not a full month, the value is the highest since September 2018, when the inflow of […]

IPOs regain strength

Despite recent market turmoil that led some companies to cancel initial public offerings in September, a new wave of IPOs gained strength in October. So far, 12 were filed, the second highest monthly number, after August. Some are transactions of large scale and expected for some time, such as Casa de Pedra, CSN, Rede D’Or […]

Credit program for small business will become permanent

The National Program for Support of Micro and Small Business (Pronampe) will be granted a third phase this year, possibly with R$10 billion, and become permanent, said secretary of Productivity, Employment and Competitiveness, Carlos Da Costa. The amount contracted in this line of credit so far reached R$18.7 billion, according to data from the Ministry […]

WEG sees consistent demand for short-cycle product

WEG sees a consistent recovery of demand for short-cycle equipment, the most impacted by the pandemic. The improvement seen both in the domestic and foreign markets helped boost the company’s results in the third quarter. On the period, net income has grown 54% year over year, to R$644,2 million, while net income rose 43,5% to […]

Romi’s order backlog grows 41% in 3Q

Romi’s order backlog grew 41% year over year in the third quarter, to R$472.1 million. The company says the increase reflects the resumption of investments in the domestic market since June, among other factors. Romi makes machinery and equipment used by several industrial sectors. In the third quarter, the business unit focused on the Brazilian […]

Caixa may create subsidiary for digital operations

Government-owned bank Caixa is in discussions with Brazilian Central Bank to create a subsidiary for its digital operation, which has 100 million clients who started using online banking during the pandemic. The formal creation of the digital arm, currently being called Caixa Banco Digital, is the first step for an initial public offering (IPO). The […]