There is unanimous expectation that this week the Central Bank’s Monetary Policy Committee (Copom) will raise the Selic, Brazil’s benchmark interest rate, by 100 basis points, to 12.75%. However, if the decision itself gives signs of predictability, the communication to be adopted by the monetary authority has been widely discussed among market agents, as well […]
Pulp and paper manufacturer Suzano announced Thursday the purchase of a package of forestry assets with a total area of 206,000 hectares, in four Brazilian states, for $667 million. Those assets originally belonged to Fibria, a merger between Aracruz and Votorantim, which was incorporated by Suzano in 2019. The operation is strategic and ensures the […]
PetroRio agreed to buy a 90% stake in the Albacora Leste field, in the Campos Basin (Rio de Janeiro), from Petrobras. The company will dirburse $1.91 billion, of which $293 million have been already paid upon signing, and up to $250 million more depending on Brent prices in 2023 and 2024. The company estimates a […]
Mercado Pago — the digital wallet that was born in Mercado Libre and is now a big provider of several types of financial services — has teamed up with investment manager Órama to create an investment platform. The commercial agreement — there is no equity participation involved — has a minimum term of five years […]
Vale is in the crosshairs of the task force set up by the U.S. Securities and Exchange Commission to identify flaws or distortions in information provided by companies regarding ESG. In a document released Thursday, the regulator accuses the mining company of misleading investors about safety issues before the Brumadinho dam collapse in 2019, which […]
The appreciation of Brazilian risk assets this year was interrupted in April. As the U.S. Federal Reserve signals interest rate hikes amid the perception of unchecked inflation in Brazil, the local benchmark stock index Ibovespa and the real lost steam as the flow of foreign capital slowed down. The Ibovespa is down 8.4% this month […]
Eight months after holding the largest domestic IPO in 2021, Raízen, the country’s fourth largest company by revenues, is once again presenting to the market the reason that led it to seek the good graces of investors. With the support of the funds raised in the market, Raízen and its partner Geo Biogás e Tech […]
The cost to build remains high and continues to be the sector’s biggest concern in the quarter, pointed out the Construction Industry Survey held by the National Confederation of Industry (CNI). It was the seventh consecutive semester in which this concern was the most cited by businesspeople. High interest rates are the second-biggest concern, and […]
Central Bank’s Focus survey of market expectations, which was released Tuesday morning, was more or less within the expectations, but the high inflation projected for 2023 poses a challenge for the Monetary Policy Committee (Copom). The inflation expected by the market was 4%, well above the target set for the year, of 3.25%, on a […]
After more than 30 years of disputes in courts, the Brazilian government has reached an agreement with pension funds to pay in installments R$8.8 billion in court-ordered debts — the so-called “precatórios” — starting in 2023. This debt refers to a judicial battle started in 1991, when pension organizations disputed the way bonds of the […]