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 […]
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. […]
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, […]
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 […]
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. […]
MURRAY ADVOGADOS
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. […]
Government spending pressures and revenue assurance efforts could still prompt rate adjustments 12/18/2024 Brazilian Lower House’s rejection of 34 amendments made by the Senate to the tax reform regulation—which had contributed to raising the standard rate of the Value Added Tax (IVA)—is unlikely to ensure that the rate remains at 26.5%, experts interviewed by Valor suggest. […]
Paraná’s highway Lot 6 draws bid from EPR; three port terminals up for auction 12/17/2024 The federal government is set to conduct auctions this week for three port terminals—in Maceió, Rio de Janeiro, and Amapá—in addition to a major highway concession in Paraná. These projects are expected to attract a combined investment of R$16.3 billion, […]
President-elect says tariffs “will make the U.S. rich” and signals trade will be based on reciprocity 12/17/2024 In his first press conference since the election, U.S. President-elect Donald Trump defended his plans to impose tariffs on imports from several countries. Speaking at his Mar-a-Lago resort in Florida, Mr. Trump publicly included Brazil for the first time among […]