First bloc to be auctioned this year will include port areas in the states of Pernambuco, Rio de Janeiro, and Rio Grande do Sul. Auction was postponed to August 21 following the loods in southernmost state Rio Grande do Sul.
Browsing: Economy
The central bank bumped its 2024 economic growth forecast despite the historic floods in Brazil’s southernmost state of Rio Grande do Sul that caused a significant downturn.
São Paulo governor and secretaries are on a roadshow to the United States, United Kingdom, and Portugal to present to investors the model of public offering of stocks of local water utility Sabesp.
The financing is designed to help Egypt address short-term challenges such as spurring private sector growth and creating a greener growth trajectory.
The North African country’s exports soared by 9.8% year-on-year in the first five months of 2024 to reach USD 16.55 billion.
Since February, XP’s wholesale banking brand has conducted transactions between Brazil and the UAE using only real and dirham, negating the need for US dollar brokerage.
At the FII Priority, held in Rio de Janeiro by a Saudi Arabia’s institute, the Brazilian president spoke of the strong partnership between the two countries at BRICS and noted Brazil has plenty of stability to offer.
Brazilian oil company approved the resumption of operations of plant ANSA, which is located in southern state Paraná and has been mothballed since 2020. Fertilizer production became part of Petrobras’s 2024-2028 strategic guidelines.
According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
The Brazilian gross domestic product grew compared to the same period last year. Compared to the last quarter of 2023, it rose by 0.8%, above market expectations. Industry and services posted growth, but agriculture was down.
Three protocols of intent were signed during a trip of Brazilian vice president Geraldo Alckmin to Saudi Arabia. Delegation features ministers, high-ranking officials, and business representatives.
As new refinery started operating at full capacity, the Arab country announced it reached a record 1.8 million barrels per day output.
The Arab country’s government has decided to raise the price of subsidized bread for the first time in 30 years. Some 71 million benefitted from bread subsidies, but the burden was unsustainable for state coffers.
An International Monetary Fund staff team has released an end-of-mission statement on the country’s economy saying investment in green growth opportunities could boost Brazil’s economic potential.
