Additional tax on sugary drinks reinstated as Congress debates changes 12/17/2024 The tax reform working group in Brazil’s Lower House has proposed rejecting tax breaks approved by the Senate for sectors such as veterinary services, pet health plans, basic sanitation, funeral homes, commercial representatives, biscuits, mineral water, and soccer corporations (SAFs). The group also opted […]
Maria Luiza Paiva had been with Vale since February 2021 after holding a similar position at Suzano; projects team led by Alexandre Pereira could be disbanded as well 12/11/2024 Under new leadership, Vale continues to overhaul its management structure. On Tuesday (10), the mining giant informed employees of further changes in its executive ranks, sources […]
Citing an adverse scenario, the Monetary Policy Committee unanimously raised the Selic policy rate to 12.25% 12/12/2024 The Monetary Policy Committee (COPOM) accelerated its tightening pace, raising the benchmark Selic rate from 11.25% to 12.25%. Citing a more adverse and less uncertain scenario, the committee also signaled two additional hikes of 100 basis points each […]
By Alexandre Tuzzolo Paulino
November saw an accelerated decline, with impacts visible in key indicators, currency shifts, and long-term interest rates, heightening economic concerns 12/10/2024 The government’s fiscal adjustment package and the proposed income tax exemption for individuals earning up to R$5,000 per month have worsened Brazil’s financial conditions, a composite measure of variables such as interest rates and […]
Expansion aims to boost production of enzymes essential for manufacturing Ozempic and Wegovy, medications used to treat diabetes and obesity 12/10/2024 Danish pharmaceutical company Novo Nordisk announced on Monday (9) an additional investment of R$500 million in Brazil. The funds will be used to construct a new annex at the company’s plant in Montes Claros, […]
President underwent emergency surgery Monday night; he is in the ICU at Hospital Sírio-Libanês in São Paulo 12/10/2024 President Lula is stable, speaking normally, and has not suffered any brain impairment after an emergency surgery on Monday night, said Roberto Kalil Filho, the head of the medical team that operated on him. This was announced during […]
According to the company, shift reduces the carbon footprint by 75% 12/09/2024 Norwegian agricultural giant Yara has started using biomethane as a substitute for natural gas in its production of sustainable ammonia. According to the company, this shift reduces the carbon footprint by 75% compared to traditional ammonia derived from fossil fuels. Yara aims to […]
Petronas enters the market and Texaco makes a return, while Larco, Ale, and SIM vie for top rankings 12/09/2024 The entry of new brands into Brazil’s fuel distribution market, such as Petronas and Texaco—making a comeback after 16 years—along with the accelerated growth of medium-sized distributors, has shifted the balance of power in the sector in 2024. […]
Trade surplus hits $7bn, down 20% year-on-year, as imports outpace exports 12/06/2024 Oil has set a new record in export value for the year through November, becoming Brazil’s top exported product for the first time since the country began tracking trade balance data in 1997. The export of the commodity totaled $42.76 billion over the […]