The Brazilian aircraft maker reported USD 99.8 million in losses in Q3, down from nearly BRL 400 million in net income in Q2.
Author: Agência Brasil
The CEO of Banco do Brasil said that alongside other banking institutions, the bank will finance bids by hydroelectric plants. The bidding is slated to begin in early November.
Respondents of a survey conducted by the Brazilian Central Bank among poll Brazilian financial institutions estimate the economy will contract by 3.02% this year. This is the 15th straight downward revision.
Weak economic activity was responsible for the decline of 4.12% in tax collection and social contributions in September, to USD 24.43 billion, over the same month of last year.
The rise of the US dollar relative to Brazil’s real inhibited expenditures in foreign currency, causing them to plummet in September. A USD 3 billion current account deficit was registered in the month.
The US currency closed at BRL 3.908, down 0.9% from a day earlier, but it has appreciated by 47% to date this year.
The estimation was made by the government’s chief of staff, Jaques Wagner. New fiscal target will be officially presented by the government this Friday.
The United States currency closed at a 15-day high this Tuesday (20th). The day was marked by instability on the financial market.
As per the Eclac’s forecast for 2015, the primary reasons for the slump in foreign sales from Latin America and the Caribbean are plummeting raw material prices and weaker international demand.
The auction is taking place in February of next year and concerns contracts with delivery due in 2021. Overall, 1,055 power generation projects have been registered.
Projections by financial institutions polled by the Brazilian Central Bank indicate that benchmark rate Selic will not be raised at Monetary Policy Committee meeting this week or in November. The rate is now 14.25%.
For Otaviano Canuto, IMF’s director, labor shortage in some areas could be solved by immigrants.
The sector was one of the least impacted by cuts in financing from the Brazilian Development Bank (BNDES) and should see a 5% increase in loans this year.
Gross value of the sector’s production increased 1.3% from January to September of this year over the same period of last year.
