A negative foreign market outlook caused the United States currency to hike and the main São Paulo Stock Exchange index to drop.
Author: From the Newsroom
Foreign sales of beef from Brazil were up 8% in value and 14% in volume last month. Egypt was the fourth leading buyer and Saudi Arabia was ninth.
It was the steepest increase in the official price index in a May since 2008. Housing was the sector responsible for the sharpest elevation in the period.
IBRD cut down from 2.9% to 2.4% the growth estimation for the global economy in 2016. And a recession in Brazil is more likely, according to the forecast. Arab countries will experience a more modest growth.
Investe SP will work with local businesses to devise strategies for the foreign market. The goal is to involve 260 companies in the capital and the state by April 2018.
Airplane crash impacted the industry, causing visitor influx to plummet by 54%. Russian tourist arrivals dropped the most, but arrivals from Arab countries went up.
Five of the world’s 15 leading sales hubs are located in the Middle East. Dubai is the biggest one in the region and fourth on a global ranking released by Jones Lang LaSalle.
Brazil’s national manufacturers association reported 46,895 units shipped last month, up 15% from May 2015, but domestic production declined.
A class of more than 80 students, most of them Syrian, was the first one to graduate from a course offered by mosque Mesquita Brasil in São Paulo.
International Monetary Fund staff met with local authorities and suggested measures to enable the country to borrow, support the poor and reduce its debt.
Purchases of clothing abroad declined 60% in April over the same month of 2015, according to the sector’s association.
Brazil’s surplus stood at USD 6.437 billion, the best result for the month since 1989. Exports dropped 0.2% in comparison to the same period of last year. Imports declined 24.3%.
Brazil’s Gross Domestic Product reached BRL 1.47 trillion from January through March as per a survey from the Brazilian Institute of Geography and Statistics (IBGE). All three sectors of economy contracted.
The autonomous region in the North of Iraq is receiving more refugees and internally displaced people due to the conflicts in the region, but it can resume inclusive growth, according to the World Bank.
