In its Trade and Development Report, the UN agency also recommends more autonomy to countries in adopting commercial and industrial policies to ensure sustainable growth.
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US dollar outflows from Brazil exceeded inflows in the first week of September, according to the Central Bank. Year-to-date through September 5th, foreign exchange flows are negative by US$ 2.6 billion.
Default grew by 17.2% from the same period in August 2013, but decreased slightly from July, according to data from the consulting firm Serasa Experian.
The agency Moody’s changed the outlook on Brazil’s government bonds rating from stable to negative, reflecting the rising risk of low growth and worsening debt indicators.
Last week, exports amounted to US$ 4.336 billion and imports, to US$ 5.017 billion, resulting in a US$ 771 million deficit.
Financial institutions polled by the Central Bank revised down Brazilian economy growth projection for the year, from 0.52% to 0.48%
Brazilian women’s clothes brand designed its next collection based on images of handicraft from the Arab country. One of the main features of Brazoo’s products is manual embroidery.
Historian Arlene Clemesha will expound on the Middle East’s history from the Ottoman rule until our days, on September 16th at the Arab Chamber. Registrations are open but slots are limited.
The Brazilian government’s regulating body has extended the tax exemption on imports of the industry input for another 180 days. The maximum quota is 282,500 tonnes.
The official index was 6.51% in the twelve-month period ended August. Last month, the rate increased by 0.25%, as against 0.01% in July. Electricity tariffs and domestic workers’ wages drove the index up.
The region has gone from accounting for 3.9% in Brazilian foreign sales to nearly 5% year on year. Brands have strengthened their presence and business was less impacted by Chinese competition.
Savings deposits in the last month were the lowest figures for the month of August in the past eight years, according to the Brazilian Central Bank. Deposits surpassed withdrawals by nearly US$ 230.96 million.
Foreign sales of cars, trucks and buses were down 50.6% year-on-year in August. Revenues declined by 39.5%.
In July from June, use of installed capacity went from 80.4% to 81%, as per a survey conducted by Brazil’s National Confederation of Industry.
