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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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’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. […]
President Jair Bolsonaro traveled to Moscow last week without believing an armed conflict would occur on Ukrainian territory, despite several warnings raised in the international community in the weeks leading up to the visit. At the Planalto Palace and the Foreign Affairs Ministry, known as Itamaraty, the feeling was that Russia would not go ahead […]
The war between Russia and Ukraine may put even more pressure on Brazilian inflation in the short time this year, experts say. In practice, the conflict, close to oil and grain-producing regions, will raise commodity prices and Brazil will be somewhat impacted. Analysts say oil giant Petrobras could raise gasoline and diesel prices and warn […]