About Gelcy Bueno

This author has not written his bio yet.
But we are proud to say that Gelcy Bueno contributed 6819 entries already.

Entries by Gelcy Bueno

Auren Energia debuts on B3 with eye on renewables

Auren Energia, a power generation company created from assets of Votorantim and CPP Investments, debuted in Novo Mercado, the strictest governance segment of the Brazilian exchange B3, valued at R$16 billion. Auren plans to expand and be among the leaders of the industry and says it is ready for acquisitions of renewable assets, a segment […]

Analysis: Survey tests Central Bank’s plan to stop raising rates

The Focus bulletin of financial market expectations represents a first warning sign to Central Bank’s strategy of stopping interest rates hikes in May at 12.75% per year, compared with 11.75% per year now. Interest rate projections for the end of the monetary tightening cycle remained at 13% per year. But inflation expectations have gone up […]

Exporters keep $70bn abroad despite high interest rates

Exporters are choosing to keep hard currency abroad despite higher interest rates in Brazil. The internalization of funds has not materialized more than a year since the beginning of the tightening cycle. A survey by Valor Data based on data by the Foreign Trade Secretariat (Secex) and the Central Bank shows that the 12-month spread […]

NBR group to open automaker in Pernambuco

The NBR group, led by businessman Evandro Lira, is going to build an automaker of popular and compact vehicles made of fiberglass and carbon in Araripina, Pernambuco. The initial investment — which includes the renovation of a castor oil factory deactivated in the 1990s — is R$260 million in three years, but can reach R$1 […]

ISA Cteep to build Brazil’s first large energy storage project

ISA Cteep, a private-sector power transmission company, agreed to build the first large-scale energy storage project linked to Brazil’s National Interconnected System (SIN). The company signed a contract with a consortium that includes You.On Energia, a company specialized in energy storage systems, and TS Infraestrutura, which gathers engineering assets spun off from Toshiba. The companies […]

High interest rates lead market to expect a more appreciated real

The 14.86% drop of the dollar against the real this year leaves no doubt that the market has been putting in prices the expressive interest differential between Brazil and the United States, which is expected to remain at high levels. Although the Federal Reserve (Fed) has started a process of monetary tightening and now indicates […]

War boosts commodities, trade balance may have record

The effects of the Russian invasion of Ukraine on commodity prices have prompted a wave of upward revisions in bank and consultancy forecasts for this year’s trade surplus. The new estimates in many cases show the prospect of a new record balance in 2022, with projections reaching more than $80 billion. An expected slowdown in […]

Airfares rose 20% in Brazil in 2021

After a period of reduced prices as the pandemic took air tickets to the lowest level in 20 years in 2020, airfares surged again. The average price of air tickets sold in the local market in 2021 was R$494.01, up 19.28% compared with 2020 and 2% compared with 2019, data by the National Agency of […]

Unemployment to hit 11% by year-end

Brazil will probably end 2022 with an unemployment rate of at least 11%, representing about 12 million people unemployed — and without recovering the real income from work, currently damaged by the growth of inflation. This is what specialists consulted by Valor predict. Analysts with Tendências, XP, Ativa, LCA and Fundação Getulio Vargas (FGV) unanimously […]

Citi plans to increase revenues in Brazil by 50% in 3 years

Citi is Brazil’s ninth-largest bank by assets and the second-largest foreign one, but has outlined a plan to speed up in the country. The bank led by Marcelo Marangon has set the goal of expanding revenue by 50% in three years. To do so, it will invest more than $50 million in technology and hire […]