A presidential decree issued this Friday eliminates the 1% rate levied on hedging operations made by exporters. The tax was implemented in 2011 to curb foreign exchange speculation.
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According to an evaluation of the International Monetary Fund, the country’s banking system is healthy. However, declining oil prices may harm the recovery of government-related enterprises.
A group of Moroccan women established the first female motorcycle club in the Arab world so as to enjoy themselves. They have organized a trip to Marrakech next Sunday.
The petrochemical company posted foreign sales revenues of US$ 6.5 billion last year, driven by increases in prices of some products. Still, the enterprise posted a loss.
The net inflow of foreign currency into Brazil was calculated up to the 9th, according to the Central Bank. There was a surplus in financial and trade operations.
In the preceding year, the growth rate was 5%. The economies of the countries surveyed grew by 0.7% in the fourth quarter of 2011, as against 0.9% in the third quarter.
Brazil’s Guido Mantega stated that 2012 will be a year of challenges for the Brazilian economy, but the country is capable of facing up to the crisis.
Japan purchased less in the period and Iran has been reducing imports since 2011. Sales to Iraq also fell. In the accumulated result for the year, however, shipments rose 3.1%.
Industrial activity lost momentum in January in nine out of 14 regions surveyed by the Brazilian Institute of Geography and Statistics (IBGE).
Brazil exported the equivalent to US$ 6.517 billion from the 1st to the 11th of this month, whereas imports totalled US$ 6.257 billion.
From now on, loans settled before five years will pay 6% Tax on Financial Operations. The measure caused the dollar to appreciate.
Last Friday, requests started being bids for raises of the Import Tax on products whose sales were hindered by the world crisis. Requests may be submitted up until April 2nd.
The Brazilian minister of Finance, Guido Mantega, stated that taxes charged on companies’ payrolls will be lowered.
This was the total turned to exploration of 1,700 licenses granted by the country. Up to now, concession holders have revenues of US$ 4.3 billion.
