If the state-run company approves distribution of retained dividends, government could receive about R$32.6bn 06/18/2024 Move may pave the way for Petrobras to decide on distribution of R$21.9 billion in extraordinary dividends from 2023 retained as capital reserve — Foto: Leo Pinheiro/Valor Petrobras’s board of directors approved on Monday the payment of R$19.8 billion related […]
CEO Magda Chambriard appointed Fernando Melgarejo, a director at Banco do Brasil’s pension fund, as the oil company’s chief financial and investor relations officer 06/17/2024 Fernando Melgarejo — Foto: Divulgação Petrobras CEO Magda Chambriard announced her first changes to the company’s executive team on Friday (14), nominating three new executives. Analysts interviewed by Valor expressed […]
Scenario forces government to review revenue and spending, posing risk of shutdown 06/17/2024 Manoel Pires — Foto: Wenderson Araujo/Valor The change in the federal government’s primary result target for 2025 slowed the fiscal adjustment process and compromised the debt trajectory. The increase in mandatory expenses and the decreasing room for discretionary expenses, which fell by […]
Only 9 of the 132 analysts surveyed by Valor anticipate a rate decrease in upcoming Central Bank decision 06/17/2024 Laiz Carvalho — Foto: Nilani Goettems/Valor The outlook for Brazil’s monetary policy indicates that the period of monetary easing may have concluded. The recent depreciation of the real and the uptick in inflation expectations, pushing the […]
Statement comes amid growing pressure for spending-cut measures 14/06//2024 Fernando Haddad and Simone Tebet — Foto: Diogo Zacarias/MF Finance Minister Fernando Haddad said on Thursday that it is essential to intensify studies on the review of public spending. According to Mr. Haddad, “primary spending needs to be reviewed, tax spending needs to be reviewed, and […]
Financially viable solutions, investments in biorefineries, and large-scale renewable energy production are all viable for addressing climate change and goals 06/13/2024 Mubadala’s Yamamoto stressed the need for large-scale initiatives to counteract climate change effects — Foto: Christopher Pike/Bloomberg Leonardo Yamamoto, executive director of Mubadala Capital, emphasized that the private sector plays a crucial role in […]
Exchange rate hits R$5.4 per dollar, long-term interest rates exceed 12%, and Ibovespa reaches yearly low amid growing investor pessimism 06/13/2024 Eduardo Cotrim — Foto: Luciana Whitaker/Valor Domestic assets in Brazil suffered from a fresh wave of risk aversion, reaching their lowest levels of the year. Comments from President Lula, who suggested that increased tax […]
Strategic expansion focuses on key sectors, highlighting Brazil’s role in renewable energy and AI’s growing energy demands 12/06/2024 The Governor of Saudi Arabia’s Public Investment Fund (PIF), Yasir Al-Rumayyan, expressed keen interest in broadening Saudi investments in Brazil. “We started investing in 2016 through one of our subsidiaries. Now we are focusing on technology, renewable […]
Business sectors praise decision to reject controversial measure 12/06/2024 Rodrigo Pacheco — Foto: Brenno Carvalho/Agência O Globo After significant pressure from industry and agribusiness leaders, Senate President Rodrigo Pacheco returned on Tuesday part of the provisional presidential decree (MP) that limited social taxes PIS and Cofins credits. Mr. Pacheco said that it was a “constitutional […]
With greater pressure from food in the South, benchmark index rises 0.46% in comparison to April 12/06/2024 Marcela Rocha — Foto: Ana Paula Paiva/Valor The Extended Consumer Price Index (IPCA), Brazil’s official inflation index, interrupted a sequence of more favorable readings and rose again above expectations in May. The indicator brings the first impacts of […]