Spanish company will start a court-supervised reorganization amid R$1.1bn debt, seeks to prevent blocking of funds 03/22/2024 Sébastien Durchon — Foto: Claudio Belli/Valor The DIA supermarket chain, which filed for court-supervised reorganization on Thursday (21), wants to prevent Daycoval from blocking its funds. The Spanish company claims that the bank is refusing to release the […]
Lula administration is considering restricting issuance of bonds by the oil and gas sector 03/22/2024 Percy Soares Neto — Foto: Divulgação The federal government is considering imposing new restrictions on the issuance of tax-exempt debentures and limiting their use to finance fixed concession payments. According to sources, one idea is to direct the instrument, which […]
The decision prevents an impact of R$480 billion, according to the 2024 Budget Guidelines Act 03/22/2024 Cristiano Zanin — Foto: Gustavo Moreno/SCO/STF In a surprising turn of events, when assessing the validity of amendments to the Social Security Benefits Act (Law 8213/1991) introduced by Law 9876/1999, the Federal Supreme Court overturned the “lifetime review” theory. […]
Oil giant disagrees with increasing biodiesel share in diesel blend as defended by the Lula administration 03/20/2024 Jean Paul Prates — Foto: Lula Marques/ Agência Brasil After the crisis generated by Petrobras’s decision to put the payment of extraordinary dividends on hold, a bill aimed at encouraging the production of more environmentally friendly fuels is […]
KPC’s subsidiary is analyzing assets of petrochemical company owned by Novonor and Petrobras 03/20/2024 Roberto Bischoff — Foto: Leo Pinheiro/Valor Two Arab groups interested in acquiring Braskem are conducting due diligence on the petrochemical company and a third one decided not to proceed with the deal, Valor has learned. Petrochemical Industries Company (PIC), a subsidiary […]
The idea is to use half the money to comply with the fiscal framework requirements 03/20/2024 Vilma Pinto — Foto: Wenderson Araujo/Valor The government wants up to half of the amount designated for congressional earmarks in the budget to be used to comply with the mandatory investment floor created by the new fiscal framework. Valor […]
Country’s expertise can support leadership of global hunger alliance 03/19/2024 Knowledge of tropical agriculture is expected to be one of Brazil’s main contributions to the global alliance against hunger and poverty that the country coordinates within the G20 agenda. One bastion of expertise that Brazil intends to present is the Brazilian Agricultural Research Corporation (EMBRAPA), […]
Opposition takes place amid pressure from wings of the government to increase spending; court has no date scheduled for decision 03/19/2024 Jhonatan de Jesus — Foto: Divulgação/TCU The technical department of the Federal Accounting Court (TCU) concluded that the government’s proposal to limit budget resources’ maximum contingency to R$25.9 billion in 2024 could constitute a […]
R$200m plan for laboratory and logistics center adds to purchase of natural rubber producer 18/03/2024 Cesar Alarcon — Foto: Gabriel Reis/Valor Carmakers have been in the news in recent weeks after announcing local investments, but they are not the only ones interested in Brazil: Pirelli also announced a R$200 million program on Wednesday. The acquisition […]
Market sees monetary authority cutting Selic by 50 basis points this week 18/03/2024 Eduardo Jarra — Foto: Silvia Zamboni/Valor The market is eagerly awaiting this week’s decision by the Central Bank’s Monetary Policy Committee (COPOM). Unlike January, when there were no surprises, this Wednesday’s decision is being closely watched by agents. At a time when […]