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Brazil extends preferential customs regime for oil industry

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BRASILA: Brazil’s chamber of deputies approved an extension of a preferential customs regime for the oil industry to entice investment in a vote late on Wednesday, according to the lower house’s news agency website. The measure was approved without an amendment proposed in the Senate earlier this week that would have reduced the extension of certain benefits through 2022, instead ... Read More »

Oil companies in Brazil will get tax breaks until 2040,

brazil

BRASILA: Brazil’s Chamber of Deputies rejected on Wednesday an amendment passed by the country’s Senate on Tuesday and upheld a bill that guarantees tax breaks to the world’s largest petroleum companies operating in the country until 2040. On Tuesday, December 12th, the Senate had amended the Chamber’s bill for the fiscal breaks to be given only until 2022. “I think ... Read More »

Brazil Senate OKs Repetro oil sector customs regime extension,

brazil

BRASILIA: Brazil’s Senate on Tuesday gave the green light to an extension of a preferential customs regime for the oil industry that has made the country more attractive to major global oil companies, sending the measure to the lower house for final approval. The so called Repetro scheme, which suspends import duties on equipment used in oil exploration and production, ... Read More »

Brazil police serving warrants linked to JBS tax probe,

brazil

BRASILIA:  Brazil’s federal police are serving 14 search warrants on Monday in connection with a bribery probe implicating meatpacker JBS SA and tax authorities, they said in a statement. The raids are based on plea bargain testimony by JBS executives who suggested that 160 million reais ($48.78 million) in bribes were paid to speed up the release of tax credits ... Read More »

Brazil’s center south seen producing 6 pct more ethanol in 2018,19

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BRASILIA: Mills in Brazil’s center south region are expected to produce 6 percent more ethanol in the 2018,19 season, which officially kicks off in April, reducing sugar output by a similar amount, according to some market estimates compiled by Reuters. On average, the projections indicate sugar production of 33 million tonnes next year in the center-south, the world’s largest sugar ... Read More »

Brazil airline Gol sees revenue, profit margins rising in 2018

brazil

BRASILIA: SAO PAULO, Dec 7 (Reuters)  Brazilian airline Gol Linhas Aereas Inteligentes SA expects its profit margins to rise next year as more international routes and cargo operations help to lift revenue, according to its preliminary 2018 operating estimates. In a securities filing on thursday, Gol forecast net revenue of around 11 billion reais ($3.3 billion) next year, up from ... Read More »

Brazil airline Gol sees revenue, profit margins rising in 2018

brazil

BRASILIA: SAO PAULO, Dec 7 (Reuters) – Brazilian airline Gol Linhas Aereas Inteligentes SA expects its profit margins to rise next year as more international routes and cargo operations help to lift revenue, according to its preliminary 2018 operating estimates. In a securities filing on thursday, Gol forecast net revenue of around 11 billion reais ($3.3 billion) next year, up ... Read More »

Brazil Nov ethanol imports plunge, first fall on year in 2017

brazil

Brazil Nov ethanol imports plunge, first fall on year in 2017: SECEX BRAZIL: Brazilian ethanol imports continued to drop, falling for the third consecutive month with 50.3 million liters entering the country in November, down almost 45% from October and 64% lower than a year earlier, the latest data from the Secretariat of Foreign Trade (SECEX) showed. Almost all of ... Read More »

“UPS customers tell us they are looking for a full suite of brokerage services, including trade.

brazil

BRAZIL:Management and advisory services, from a partner that can help them on a global basis,” said Jim Barber, president of UPS International. “Combining Sandler & Travis Trade Advisory Services with our existing UPS Trade Management Services provides customers with an even more powerful set of solutions designed to maximize their trade investments and minimize complexity, time and cost throughout their ... Read More »

Brazilian Customs reintroduce obligation to produce original bill of lading for taking delivery

brazil

BRASILIA: In 2013 the Brazilian Customs authorities authorised terminals to allow delivery of cargo upon the presentation of an Import Declaration, a copy of the Bill of Lading (front and reverse) and proof that they have paid the respective taxes, without the need for the importer/consignee to produce the original Bill of Lading. This was concerning for carriers because cargo ... Read More »

Man caught smuggling cocaine worth $1.3m

BRAZIL

  BRASILIA: “Inconsistencies” in a Brazilian man’s suitcase led to his arrest for attempting to smuggle in 3kg of cocaine, worth up to $1.3 million. The 38-year-old was caught at Auckland International Airport on Sunday, after arriving on a flight from Chile. A baggage search revealed inconsistencies with his suitcase, which was found to have the cocaine hidden in its ... Read More »

Soybeans fall more than 1% as Brazilian currency weakens

Soyabean

CHICAGO: US soybean futures fell by more than 1 percent on Friday, giving up all of Thursday’s rally and more, as Brazil’s currency fell, making Brazilian soy more competitive on the global market, analysts said. Corn and wheat followed soybeans lower. As of 12:47 p.m. CDT (1747 GMT), Chicago Board of Trade January soybeans were down 11-3/4 cents at $9.87-1/2 ... Read More »

Bunge eyes IPO for Brazilian sugar milling business

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CHICAGO: Bunge Ltd (BG.N) may be able to get the best value for its Brazilian sugarcane milling business by launching an initial public offering of the unit, Chief Executive Soren Schroder said on Wednesday, four years after he began exploring a sale. Schroder is weighing an IPO as a global oversupply of crops has hammered profits in the core grain ... Read More »

Brazil’s Banco Bradesco beats Q3 profit estimates as provisions fall

BRAZIL BRADESCO

SAO PAULO: Banco Bradesco SA, Brazil’s No. 3 listed bank, on Wednesday beat net income forecasts as lower loan-loss provisions offset a contraction in its loan book. Provision expenses fell to the lowest levels in two years as the bank’s efforts to focus on less risky segments bore fruit. Loans in arrears for more than 90 days, the industry’s standard ... Read More »

Brazil extends tax debt renegotiation program for 2 weeks

BRAZIL

  BRASILIA: Brazil’s President Michel Temer signed a decree on Monday extending for two weeks a tax debt renegotiation program known as Refis, the presidential office said. The program has collected more than 10 billion reais ($3.05 billion) in back taxes this year for the Treasury. Earlier this month, the Senate approved greater discounts to taxpayers in the program, depriving ... Read More »

Brazil oil auction beats expectations

OIL AUCTION

RIO DE JANEIRO: Oil executives and government officials were ebullient Friday following the conclusion of a major oil auction in Brazil, where a yearlong effort to lure foreign investment into the energy sector appeared to have paid off. Brazil auctioned off six of eight exploration blocks on offer, receiving commitments from oil majors to pay $1.88 billion in signing bonuses. Read More »

Brazil posts September current-account surplus of $434 mln

Current Account

BRASILIA: Brazil recorded a current-account surplus of $434 million in September, reversing a $302 million deficit in August, the country’s central bank said Thursday. The 12-month current-account deficit narrowed in September to $12.6 billion, or 0.63% of gross domestic product, from $13.5 billion in August. Net foreign direct investment rose to $6.3 billion in September from $5.1 billion in August, ... Read More »

Brazil signs agreement for system to speed up imports of agrochemicals

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SAO PAULO: Brazil’s Agriculture Ministry has signed an agreement for use of a system of the national revenue service that will speed up imports of products used in agriculture, such as agrochemicals and fertilizers, through the Port of Santos, Brazil’s busiest, according to a statement on Wednesday. The ministry said companies to benefit by the agreement include Basf SE, Bayer ... Read More »

Brazil central bank set to taper rate cuts near record low

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BRASILIA: Brazil’s central bank is set to slow the pace of interest rate cuts on Wednesday, taking its benchmark rate just above an all-time low as the economy finally starts to emerge from recession. All but one of 54 economists polled by Reuters last week expected the bank, following its two-day monetary policy meeting, to cut its Selic rate by ... Read More »

Brazil’s JBS appoints O’Callaghan as new chairman

JBS

SAO PAULO: The board of Brazilian meatpacker JBS SA elected Jeremiah O’Callaghan to the post of chairman, the company said on Friday in a securities filing. O’Callaghan has been investor relations director for 10 years at JBS. He will replace Tarek Farahat, who will hold a position as ‘global advisor’ while still keeping a board seat at the company’s U.S. ... Read More »