Brazilian production averaged at 2.5 million barrels per day in 2016, up 3.2% from 2015. Exports reached an all-time high.
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The organization celebrates its anniversary this Sunday. ‘We have earned the respect of governments and of Brazilian and Arab business owners as an effective, transparent and fair partner,’ said president Rubens Hannun.
The sector’s foreign sales to the Arab countries generated USD 893,000 in revenues in May, well above the USD 286,000 from April. Overall, exports increased 10.5%.
Brazilian carriers registered a 6.9% drop in 2016, which came after 13 straight years of growth.
At the end of May there were 13.8 million unemployed persons in the country, according to the national household sampling survey from the Brazilian Institute of Geography and Statistics (IBGE).
A survey from the WTO showed that 42 such policy measures were put in place by the bloc’s countries from October 2016 to May 2017. Their impact, however, is not as serious as trade facilitation actions.
An event organized by NGO Adus and Fundação Ema Klabin will happen tomorrow (1) featuring Arab, African and Colombian food, alongside typical Brazilian festa junina dishes. Ethnic items will be on sale.
The oil price slump and increasing imports have stemmed the influx of currency to the country. Foreign exchange reserves amount to USD 108 billion right now.
The Japanese group JTEKT will build its first plant in Africa and the Middle East in Tangier. The project’s first phase will require investments of EUR 15 million.
The National Monetary Council has set a 4.25% target for 2019 and a 4% one for 2020. The rate pursued by the federal administration had been 4.5% since 2003.
Index measured by Fundação Getulio Vargas on the issue climbed 14.4 points in June over May and reached 142.5 points, in a reflection of Brazil’s economic uncertainty scenario.
Data made public by SPTuris reveal which are the largest communities of expats in the city of São Paulo. Lebaneses are the most numerous among the Arabs.
The minister of Finance declared that the Brazilian economy will grow less this year than was estimated by the government.
The Brazilian capital goods industry exported USD 705 million worth of product last month. The amount is up 12% from April and 1.3% from May 2016.
