Brazil’s president Jair Bolsonaro said maximum expenditure at duty-free shops in airports will increase from USD 500 to USD 1,000.
Browsing: Economy
The Brazilian food company is looking into processing product locally in the Arab country, where 60% of the poultry consumed is industrialized. Saudi Arabia is currently not purchasing product processed by BRF in its UAE facilities.
The apparent consumption from the Institute for Applied Economic Research (Ipea) was down 1.4% in August from July.
World Bank forecasts a 0.6% growth for the Middle East and North Africa this year, down from 1.4% estimated in April. Oil production cuts and geopolitical tension are some of the reasons.
Industry association Abraciclo’s chairman Marcos Fermanian said the availability of credit was the primary driver of the increase.
IPCA, official measure of inflation, slid by 0.04% last month
Foreign sales declined 7.1% year-on-year and 0.2% from August, Anfavea reported.
The Arab country’s economy grew 0.84% in the second quarter of this year, despite weaker oil industry performance.
The indicator from the National Confederation of Industry climbed in Q2 from Q1.
Volume reached 3.828 million barrels of oil equivalent per day in August, almost 3 million being in oil only.
Brazil ran a USD 2.2 billion surplus last month as exports cooled off and imports climbed, prompting the government to revise its yearlong estimate.
The World Trade Organization sees worldwide sales of goods going up 1.2% this year, down from last April’s 2.6% estimate.
A delegation from the northern Brazilian state visited the Arab Brazilian Chamber of Commerce’s international office in Dubai. Business owners are looking to carve out a market for themselves in the emirate.
Increase was recorded in August from July in survey by the IBGE. Year-on-year, it saw a decrease.
