The oil industry accounts for over half of the country’s budget. Falling prices led to a 28% decline in quarter one this year.
Browsing: Economy
According to the sector’s association, motorcycles international sales dropped 47.8% last month over the same period of last year. In all, 3,600 unities were shipped.
The target set is part of the expansion plans of the DIFC, the Emirate’s financial free zone, for 2024. The goal is to triple the number of companies in the area.
In a lecture at the Arab Brazilian Chamber of Commerce offices, José Roberto Mendonça de Barros discussed the country’s current scenario and gave suggestions for businesses to navigate the crisis.
Watch in this episode: Brazilian vice president Michel Temer was honored by Arab ambassadors in Brasília.
The new phase of Logistics Investment Program was launched this Tuesday (9th) and should help unlock Brazil’s economic potential. Private investments will be made in roads, railways, ports and airports.
Foreign sales by automakers operating from the country increased in May from April and helped improve year-to-date performance. However, the basis of comparison is too low, says a specialist.
In May, sales at Brazilian stores were 0.6% higher than in April and 3.4% higher than in May of last year.
The sale of an oil rig helped drive export revenues up and reduce the country’s trade deficit year-to-date.
Survey of the Brazilian Central Bank with financial institutions indicates an expectation for a 1.3% decline for Brazil’s GDP in 2015. Last week estimation was of 1.27%.
The event occurs on June 14th, 20th and 21st at the Immigration Museum, in the city of São Paulo, featuring handicrafts, cuisine and dances from several countries, with Arabs among them.
Report from Unctad shows that foreign direct investments even quadrupled in least developed countries between 2002 and 2014.
The IMF assigns this negative performance to the oil price decline, but states that the country is capable of making a fiscal adjustment because of the great wealth accumulated with exports of the commodity.
US dollar outflows exceeded inflows by US$ 2 billion in Brazil last month, the Brazilian Central Bank has reported.
