Entries by Gelcy Bueno
Vibra creates largest power trader in Brazil
Vibra Energia made official on Wednesday the creation of the largest trader in the free electricity market in the country. In the wake of the multibillion transaction announced in October — which began with an investment of R$2 billion in a convertible debenture — Vibra, formely known as BR Distribuidora, confirmed its option to take […]
Scania halts exports from Brazil to Russia
Scania has suspended exports of trucks from the São Bernardo do Campo plant to Russia. The Brazilian subsidiary follows the decision of the parent company in Sweden, which halted sales in the Russian market after President Vladimir Putin decided to invade Ukraine last week. The company did not inform how many vehicles will no longer […]
Russia-Ukraine war to drive up prices of chemical products
The costs of the Brazilian chemical industry, which were already under pressure from the Covid-19 pandemic, tend to rise further with the Russia-Ukraine war amid rising oil and natural gas prices, said Fátima Giovanna Coviello Ferreira, head of Economics and Statistics at the Brazilian Chemical Industry Association (Abiquim). Naphtha, a petroleum product that is the […]
As oil rises, gap with fuel prices widens in Brazil
With the peak of oil prices in recent days, the gap between prices practiced by Petrobras and the international parity has widened and reached R$1 in the case of a liter of diesel, according to market estimates. The state-owned company has not changed fuel prices at refineries for 49 days and a new adjustment is […]
Brazil moves forward with crypto legislation
The economic affairs committee of the Brazilian Senate unanimously approved legislation to regulate crypto assets, paving the way for votes in the upper and lower houses of Congress. If passed, the legislation will give the Central Bank of Brazil new powers to regulate the crypto asset market. There is some debate over how many crypto […]
Brazilian GDP expected to rise 4.5% in 2021
The Brazilian economy is expected to have closed 2021 at a faster pace in November and December, offsetting the weak performance in October. In the year, GDP growth is expected to have reached 4.5%, after the 3.9% drop with the pandemic in 2020. For this year, expectations still tend to shape in the coming days […]
Brazil’s Embraer, airlines monitor impacts on costs, operations
Although the war in Ukraine has not affected the flights of Brazilian companies so far, planemaker Embraer and airlines Latam, Gol and Azul are closely monitoring its developments, which may have a significant impact on costs and operations in the sector. In the case of Embraer, the international community’s sanctions against Russia may disrupt access […]
War likely to have little impact on Brazilian economy, experts say
Economists and banks, however, warn that it depends on the duration of the conflict The Brazilian economy is little exposed to the Russia-Ukraine war and is likely to suffer little impact, at least for now. This scenario, however, will only be confirmed if the conflict does not spread to other European countries, economists and banks […]
Ukraine calls for “solidarity” from Brazil, condemnation to Russia
Ukraine’s chargé d’affaires in Brazil, Anatoliy Tkach, demanded an “official expression of solidarity” of the Brazilian government with Kiev and the country’s condemnation of Russia’s “aggression” against its territory. “We are still waiting for the official expression of solidarity [from the Brazilian government] along with messages in favor of [the Russians] ceasing their aggression,” Mr. […]