Four oil blocks were on offer in the 6th Production Sharing Bidding Round. A consortium of Petrobras and China’s CNODC placed the winning bid for the Aram area, in the Santos Basin.
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Brazil shipped 7.9 million pairs, up 65% year-on-year. Revenues climbed 44% to USD 84.35 million.
Jorindo Group director Kamal Suleiman visited the Arab Brazilian Chamber and said he’s searching for Brazilian distributors to start selling their products in Brazil.
Exports by the bloc’s members were up a meager 0.4% in Q1, while imports slid by 1.2%. The organization points out the negative effects of the USA-China trade war.
The number was up 2% from the first quarter of 2018. India remained the biggest source country, followed by Saudi Arabia and the United Kingdom.
USD 526 million worth of product got shipped from Brazil, up 6.3% from February 2018, with added demand from Asian countries, notably China. Half of Brazil’s top ten destinations are Arab countries.
The non-oil trade volume between the two countries reached USD 53 billion. China will participate in the Annual Investment Meeting in Dubai.
Global expansion is weakening amid risks, says International Monetary Fund economic counsellor and director of Research Gita Gopinath.
In line with the upward trend of the past few years, foreign sales are expected to reach 1.62 million tons in 2018 – the biggest volume ever shipped from Brazil. Revenues are seen climbing 7.4% to over USD 6.5 billion.
Since October of this year, oil prices have fallen by a quarter to below USD 70 per barrel. A report by the International Energy Agency was released this Wednesday.
A group of businessmen from Minas Gerais, Brazil, led by trade association ACMinas, will be in the UAE on November 7 to spread awareness of the state’s economic potential and to join business meetings.
Foreign sales of basic goods rose 2.7% in September, while sales of other items dropped 7%, according to Fundação Getulio Vargas (FGV).
The organization’s new forecast for growth in trade volume in 2018 went from 4.4% to 3.9% in face of the trade war between the United States and China and the volatility in exchange rates.
The district will be part of mega development Dubai Creek Harbour. The announcement was made on the eve of the visit of China’s president to the UAE.
