NEWSLETTER – DECEMBER 2024
MURRAY ADVOGADOS
Entries by Gelcy Bueno
Share buybacks surge during interest rate hike cycle
By November’s close, 98 companies had approved programs, marking a 20% increase over 2023 12/30/2024 Amid one of the leanest periods for stock offerings on the Brazilian exchange, banks are witnessing a notable surge in share buybacks within their brokerage divisions. With market valuations depressed and no clear signs of recovery, companies are ramping up […]
Growing trade friction over environmental issues at the WTO
Brazil emerges as second leading nation raising concerns over other countries’ or blocs’ practices 12/30/2024 Trade frictions centered around environmental and national security issues are on the rise at the World Trade Organization (WTO), highlighting Brazil’s increasing challenges in the global trade arena. A WTO study reveals that Brazil ranked second in raising trade concerns […]
Rio forecasts R$3.2bn impact from New Year’s Eve celebrations
City Hall anticipates 5 million attendees at events citywide 12/30/2024 Rio de Janeiro City Hall anticipates that New Year’s Eve 2025 will inject R$3.2 billion into the city’s economy, with an estimated 5 million people attending events across the capital. Copacabana alone is expected to host 2.5 million locals and tourists ringing in the new […]
Supreme Court Justice limits budget allocations but makes exceptions
Flávio Dino authorizes pending committee funds but imposes conditions on future allocations, impacting federal spending dynamics 12/30/2024 Supreme Court Justice Flávio Dino authorized the payment of committee budget allocations committed by December 23, even without disclosing identity of the requester. However, he prohibited new authorized payments unless a lawmaker takes responsibility for the funding request. […]
Brazilians transfer money abroad despite soaring dollar
Executive says the currency’s surge reflects “fearful money” held by conservative investors 12/19/2024 Brazilians are increasingly transferring money abroad, even as the foreign exchange rate reaches record highs—a departure from historical patterns. Roberto Lee, CEO of Avenue, a brokerage focused on facilitating international investments for Brazilians, notes that traditionally, a rising dollar dampens outflows. However, […]
Credibility crisis triggers new sell-off of Brazilian assets
Driven by local and external pressures, exchange rate against the U.S. dollar surged to R$6.26, while the Ibovespa stock index experienced its steepest daily drop since November 2022 12/19/2024 A storm driven by local and external factors sparked another round of turmoil in Brazil’s markets during Wednesday’s session. No asset was spared. The exchange rate […]
Amazon drought disrupts river transportation, raises manufacturing costs
Estimates suggest the dry season will impose R$1.3 billion in additional costs on the Manaus Free Trade Zone 12/19/2024 The Negro River in Amazonas has reached 12.1 meters this year, its lowest level in over a century. In some tributaries, what used to be waterways has turned into fields dominated by wild rice and mud. […]
MERRY CHRISTMAS AND HAPPY NEW YEAR!
MURRAY ADVOGADOS
Brava Energia in talks to divest all onshore exploration assets
Market pressures reshape Brava’s strategy as it seeks to streamline operations and stabilize finances 12/18/2024 Brava Energia, formed through the merger of oil companies 3R and Enauta, is evaluating its asset base to unlock capital and improve cash flow. The company announced on Tuesday an exclusive agreement to divest assets in Rio Grande do Norte. […]