The Brazilian state-run oil company is handing over its 66% stake in the block known as Carcará for USD 2.5 billion.
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Brazil’s federal, state and local governments posted a combined USD 3 billion deficit in June, the poorest result for the month since record-keeping began in 2001.
Asfour Crystal is now represented by business owner Mohammed Darwich in the country. The brand wants to expand as it’s planning to handle 30 to 40 containers per month.
The Trade Facilitation Agreement will enter into force when two thirds of the World Trade Organization member countries have formally accepted it. Over 80% of those two thirds have been reached.
The Brazilian federal government had a USD 9.9 billion deficit in the first half of 2016.
Collection of taxes and contributions reached BRL 617 billion in the first half of this year and BRL 98 billion in June, the worst result for the month since 2010.
Exports climbed 27% in volume and only 1% in revenue in the first half, reflecting a widespread drop in international prices.
The credit rating agency believes that stability in the price of commodities will improve the state of emerging economies such as Brazil and Russia. Forecast on the fall of the Brazilian economy went from 3.8% to 3.3%.
Foreign sales of Brazilian capital goods totaled USD 4 billion, an increase of 1.1% over the same period of last year. Volume shipped, however, climbed more than 10%.
According to Brazil’s National Federation of Industry (CNI), the share of foreign sales in total production value climbed to 15.8% in the 12 months ended May, up from 14.2% in the preceding 12 months.
The international scenario and its implications to Brazil will be one of the subjects of a meeting on August 3 at the organization’s auditorium. Admission is free for member companies.
A forecast done by ECLAC on the GDP decline of countries in the region and the Caribbean brings a sharper fall than the 0.6% from an April forecast. South America had the worst performance.
The Lebanese International Business Council is holding the Immigrants’ Reunion 2016 on August 9 in Beirut. The agenda will include applications for citizenship, voting rights and investments in tourism.
After two months of surpluses, the result was negative by almost USD 2.5 billion in June, mostly due to the primary income and services accounts.
