Entries by Gelcy Bueno

JBS donates R$700m for pandemic relief

JBS announced a package of donations to help the fight against covid-19. With annual sales of $50 billion a year, the world’s largest meat producer will donate R$700 million – R$400 million in Brazil and R$300 million in the US – or 28.7% of its net profit last year. In Brazil, the money will go […]

Safra bets on independent investment advisers

Brazil’s Safra took another step away from its conservative past, entering the until recently red-hot market for independent investment advisers. With its platform, SafraInvest, the bank hopes to establish a network of advisers and firms that can expand its reach to more clients and regions, a significant shift for a bank known for being discreet […]

M. Dias Branco posts higher 1Q sales amid pandemic

Sales by M. Dias Branco, Brazil’s largest biscuit and pasta manufacturer, grew 22.4% in volume from January to March compared to the same period last year and remain strong. The company’s revenue rose 24.3% in the first quarter to R$1.64 billion. Chief Investment Officer Gustavo Theodozio said the effect of the pandemic was seen in […]

BRAZILIAN CAPITAL OVERSEAS CENSUS – 2019 BASIS PERIOD

INFORMATIVE TO CLIENTS MURRAY ADVOGADOS   The Brazilian Central Bank started to receive Statements on Brazilian Capital Overseas (CBE) related to the fiscal year 2019, which is mandatory to residents in the country who have assets (goods and rights) against non-residents (including real estates, deposits, cash balances in foreign currency, among others) that totals one […]

Via Varejo sees new store’s sales at level seen before lockdown

Via Varejo, owner of Casas Bahia and Ponto Frio retail chains, said Monday that sales of stores opened after social distancing measures began to be lifted reached the same level seen before the lockdown. In addition, its online sales’ arm now offsets a good chunk of the revenue lost when the stores closed, CEO Roberto […]

Sugar-and-ethanol mills will have credit for storage

Sugar-and-ethanol mills are likely to receive a financing line aimed at storage, after requesting that and two other aid measures from the federal government. The other measures, involving changes in taxes, met resistance in the Ministry of Economy, sources say. In a live talk on video promoted by Valor, Cosan CEO Luis Henrique Guimarães said […]

Big five banks lend R$265.6bn in 30 days

The five largest banks in Brazil – Itaú Unibanco, Bradesco, Santander, Banco do Brasil and Caixa Econômica Federal – have lent R$265.6 billion between March 16 and April 17, the first month of the pandemic, according to the Brazilian Bank Federation (Febraban). The data includes new loans and financing, along with contract renewals and postponed […]

Banks considering grace period for payroll loans

Brazilian banks study offering grace periods for payroll loans (also known as consigned loans, where the borrowers’ wages are pledged as collateral and payments are discounted from paychecks). Brazilian Bank Federation (Febraban) Chairman Isaac Sidney said lenders are trying to overcome operational problems before launching the measure. “Unlike other lines, consigned credit involves thousands of […]

Caixa expected to offer R$10bn to very small companies

The federal government is working to hammer out by Tuesday a new credit line from Caixa Econômica Federal to very small companies. The state-owned bank is expected to allocate nearly R$10 billion in working capital loans while businesses are closed or operating below capacity. Nearly 2.2 million companies are expected to benefit. They will be […]

General Data Protection Law

Murray Advogados *Isabella Silva Machado   Introduction Law No. 13,709 of August 14, 2018, better known as the General Law for the Protection of Personal Data (“LGPD”), appears in the Brazilian legal system as an innovation in the scope of operation, operation and organization of personal data, thus introducing , high standard rules, able to […]