Entries by Gelcy Bueno
Market forecasts strong quarter for Petrobras
Average revenue estimate of R$163.7bn represents 34.6% increase over 2021 10/31/2022 Analysts expect that state-owned company will maintain good cash generation in the quarter — Foto: Geraldo Falcão/Agência Petrobras Oil prices and the exchange rate are expected to have a prominent role in the third-quarter earnings report Petrobras is set to release after the market […]
High-quality investment explains GDP growth, UBS says
Dynamism can help Brazil navigate almost unscathed through the stormy crisis raging abroad, economist says 10/31/2022 Alexandre de Ázara — Foto: Silvia Zamboni/Valor The dynamism of Brazil’s spending has helped create a stronger economy in Brazil. With an investment rate comparable to the best periods of the Workers’ Party (PT) administrations, the country has a […]
Foreign trade reaches record levels, exposes Brazil’s weaknesses
Situation of external account expected to remain benign, but in less relaxed picture than previously estimated 10/31/2022 David Beker — Foto: Silvia Zamboni/Valor Brazil’s foreign trade is at record levels, with flows increasing considerably. Although analysts view the country’s trade opening positively, it also results in greater exposure of the economy to global fluctuations amid […]
U.S. lifts surcharge on Brazilian hot-rolled steel exports
Brazilian exports of steel products to the country totaled $5.1bn last year 10/28/2022 The United States decided not to extend countervailing antidumping measures against Brazilian exports of hot-rolled steel products, which were in force since October 2016, according to a note released by Brazil’s ministries of Economy and Foreign Affairs on Thursday. The note mentions […]
Águas do Brasil to compete in new sanitation auctions
Group is targeting concessions in three states, São Paulo, Minas Gerais, and Rio Grande do Sul 10/28/2022 Carlos Eduardo Castro — Foto: Silvia Zamboni/Valor The Águas do Brasil group is getting ready to dispute new sanitation contracts. At least three projects are on the radar: the municipal concessions of Marília (São Paulo) and Nova Serrana […]
Unemployment is down, income is up, but economists see slowdown ahead
Between July and September, economy generated 1 million jobs, well below the 3 million in the previous quarter 10/28/2022 Brazil’s labor market ended the third quarter at a still strong pace: the unemployment rate is down and the average income of workers has increased for the first time since the beginning of 2021. Despite the […]
Power, sanitation utilities show better financial performance
Survey by Strategy&Brasil with 750 publicly traded companies around the world show average revenue growth of 3.3% between 2017 and 2021 10/27/2022 A study conducted by Strategy& Brasil, PwC’s strategic consulting arm, with 750 publicly traded utilities companies around the world concluded that electric power and sanitation companies showed better financial performance in the last […]
Central Bank keeps key interest rate at 13.75% per year
Decision was in line with median of market expectations and signaled in the previous meeting 10/27/2022 Central Bank’s building in Brasília — Foto: Jorge William/Agência O Globo The Central Bank’s Monetary Policy Committee (Copom) decided to maintain the key interest rate Selic at 13.75% per year on Wednesday, as signaled at the previous meeting in […]
Casino mulls sale of stake in Assaí for $500m
This could be largest the French group’s divestment in Brazil 10/27/2022 Cash-and-carry chain Assaí has a market capitalization of R$23 billion — Foto: Leo Martins/Agência O Globo Casino is likely to sell a stake in the Brazilian cash-and-carry chain Assaí for nearly $500 million. The decision to study such a move was communicated Wednesday to […]