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Entries by Gelcy Bueno

Number of Cubans fleeing to Brazil spikes amid economic crisis

Tighter migration rules in the United States also explain increasing flow to Brazil 12/15/2022 The combination of a deepening economic crisis in Cuba, increased political repression, and greater difficulties to immigrate to the United States has led more and more Cubans to bet on Brazil as a country to try a new life. Last year […]

Major groups expected to compete in power transmission auction

There are six lots of almost 710 kilometers of transmission lines and substations, with investments of R$3.51bn 12/15/2022 The power transmission auction scheduled for Friday at exchange B3’s headquarters in São Paulo is expected to draw traditional groups, ample competition, and strong discount. The six lots offered in the event held by the Brazilian Electricity […]

Petrobras, BB shares plunge after change in rule for state-owned companies

Government-linked stocks suffer from measure that paves the way for political interference 12/15/2022 Change enabled nomination of Aloizio Mercadante as CEO of the Brazilian Development Bank — Foto: Cristiano Mariz/Agência O Globo A fast change in the State-owned Company Law, passed by the Chamber of Deputies on Tuesday night, worsened the market’s risk perception about […]

NGOs ask IFC to block financing of Suzano’s new pulp mill

Brazilian giant is investing R$19.3bn in the largest single production unit of this raw material in the world 12/15/2022 Suzano’s eucalyptus forest in Mucuri, Bahia — Foto: Divulgação More than 40 non-governmental organizations (NGOs) from different regions of the world have requested the International Finance Corporation (IFC), the financing arm of the World Bank for […]

Mubadala deal values Atvos at R$1.6bn

Deal for sale was closed between Mubadala and company’s creditor banks 12/14/2022 The sugar-and-ethanol company Atvos was valued at R$1.6 billion in the agreement closed between Abu Dhabi sovereign wealth fund Mubadala and the creditor banks of the company for its sale, sources say. The transaction, settled in defiance of the current controlling shareholder, the […]

Analysis: Fiscal expansion may have opposite effect to the one intended

Monetary Policy Commitee reviews all the channels through which fiscal policy can harm the scenario of inflation convergence to the target 12/14/2022 Central Bank’s building in Brasília — Foto: Jorge William/Agência O Globo The Central Bank’s Monetary Policy Committee (Copom) is adopting a wait-and-see approach until it gets to know in greater detail the fiscal […]

Pátria expands technology portfolio targeting 5G

Fund plans to invest $500m to $1bn in next three years in data infrastructure opportunities 12/14/2022 After the sale of the data center company Odata to the American Aligned, Pátria Investimentos fund, which held about 90% of the company’s capital, now seeks to expand its technology portfolio, with a focus on infrastructure for 5G networks. […]

Aligned buys Odata, plans to invest $1bn over 10 years

Data center company intends to accelerate expansion in Latin America, expects to quintuple revenues in five years 12/14/2022 Andrew Schaap — Foto: Divulgação The U.S.-based data-center infrastructure company Aligned announced on Tuesday the acquisition of 100% of the capital of the Brazilian company Odata, which has data center operations in Brazil and other Latin American […]

Brazil may become self-sufficient in uranium driven by private sector

Provisional measure paves the way for partnerships between INB and private-sector companies for ore production 12/14/2022 With the approval by the Senate of the provisional measure 1,133/2022, which allows private-sector investment in nuclear ore extraction in Brazil, the sector sees the possibility of new companies joining an activity previously exclusive to Indústrias Nucleares do Brasil […]