The deal with the Moroccans is for US$ 6.21 billion, but the country intends to draw the funds only if the international crisis worsens. Over US$ 2 billion will be made available to the Jordanians.
Browsing: Economy
This Monday (6th), the oil company’ president Graça Foster said results will not be negative in quarters to come. The performance was influenced by depreciation of Brazil’s real.
According to figures disclosed by the Central Bank, Brazilian companies spent a net US$ 2.8 billion with purchases from companies abroad in the first half.
The Fund estimates that the country’s economy will grow 2.7% this year, 3.4% in the next, and reach 6% in 2016. In 2011, the GDP was down 1.8% because of the Arab Spring.
The loss was US$ 662 million. The company blames depreciation of the Brazilian real, greater costs and maintenance stops for the weak performance.
The country has been given seven more months to meet the targets of a US$ 3.58 billion deal. The funds are meant to finance the balance of payments.
The Lebanese-born Safa Jubran came to Brazil when her country was in a civil war. Here, she built a career which transformed her into a bridge between Arab literature and Brazilians.
The improvement of the economy of Brazil is gradual, according to an evaluation on Friday (3) by the Central Bank of Brazil.
In July, 72 million cubic metres were produced, up 5.2% from June and 7% from the same month of last year.
Electricity generation was down 0.8% in Brazil in July from June, at 57,700 megawatts. A decline in demand from industry was one of the causes.
The neonatology equipment producer has increased sales to the foreign market in the first half. Latin America was the main destination, but the company also exports to Arab nations.
From January to July, Brazilian foreign trade had a US$ 9.9 billion surplus, down 38.2% from the US$ 16.1 billion result in the same period of 2011.
Since 2011, the Brazilian Federal Savings Bank has loaned 13 billion reals (US$ 6.3 billion) to the oil, gas and naval industries. The bank wants to reach the 20-billion-real mark this year.
The outflow of foreign currency from Brazil exceeded the inflow by US$ 1.46 billion, according to the Central Bank.
