Everything you need to know about Brazil investing
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Foreign Investors Buy into Brazil, Lead M&A Activity
Brazilian companies are the cheapest they have been in years, presenting bargain hunters with prime buying opportunities.But foreign investors appear to be keener on the nation’s prospects than Brazilians, many of whom are spooked by the political turmoil that is worsening the nation’s economic slowdown. Earlier this month, New York’s Coty Inc. agreed to pay…
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Brazil keen to further strengthen trade ties with India
Brazil today called for expanding a trade pact with India by adding more products such as frozen chicken (whole) and processed soyabean in the tariff agreement and also stressed on technology transfer and investment in agriculture research. Brazil is also keen to export ethanol and milk products to India and boost shipments of edible oils. India…
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Europe’s Top Banks Are Cutting Losses Throughout Latin America
European banks are on the retreat all across Latin America.Societe Generale SA announced in February that it’s dismissing more than 1,000 workers while exiting the consumer-finance business in Brazil. In August, HSBC Holdings Plc sold its unprofitable Brazilian unit, with more than 20,000 employees. Two months later, it was Deutsche Bank AG’s turn. The German…
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Shares Drop As Commodity Saga Continues, Finance Minister Out?
Some headlines from Brazil, with the iShares MSCI Brazil Capped exchange-traded fund (EWZ) down 2.4% Local press reports in Brazil Wednesday said Brazil’s Finance Minister Joaquim Levy could be replaced within months as the economy and currency collapse. Brazil President Dilma Rousseff may choose Henrique Meirelles, a former central bank president. Brazil’s government says it…
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Oil Workers Strike in Brazil for Wages, Investments, Assets
Twelve oil work unions which are part of the Oil Workers Federation (FUP) in Brazil began on November 1st, a strike at Petrobras refineries all over the country. According to union officials, strikers are protesting against Petrobras’ asset sales, investment cuts, project suspensions, and reduction of some workers’ rights. “The strike was agreed upon more…
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Brazil Says Any Oi-TIM Deal Would Be Studied Closely
The Brazilian government would study any potential merger or acquisition agreement between telephone companies Oi SA and TIM Participações SA closely to avoid too much concentration in the sector, Communications Minister André Figueiredo said Tuesday.Oi announced Monday that LetterOne, an investment firm led by Russian billionaire Mikhail Fridman, is planning to invest $4 billion in…
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New investments signal turnaround in Brazil ethanol industry
Improved returns from sales at home and abroad are unleashing the first major flurry of investment in Brazil’s struggling ethanol industry in nearly a decade, with at least nine companies expanding or building new capacity. Medium-sized private mill Rio Verde said it would double ethanol output over the next two years to capture resurgent biofuel…
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Mikhail Fridman Proposes $4 Billion Investment in Oi of Brazil
The Russian oligarch Mikhail Fridman may spend as much as $4 billion to expand his telecommunication holdings into South America.On Monday, the Brazilian telecommunications company Oi said that Mr. Fridman’s investment group, LetterOne, had given it a proposal to invest in a possible merger of Oi with Telecom Italia’s local operator, TIM Participações. “In accordance…
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Foreign investment in Brazil grows in September, covers external gap
Brazil’s current account deficit grew wider than expected in September but was easily covered by foreign investments, central bank data showed on Friday. Brazil posted a current account deficit of $3.076 billion in September, larger than a gap of $2.487 billion in August and the $2.3 billion deficit forecast by economists for the month, central…
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