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Starbucks expands in Brazil with new partnership

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BRASILIA: Starbucks Coffee Co. has entered into an agreement with SouthRock, a multi-brand restaurant operator in Brazil, to license Starbucks retail operations in the country. Starbucks currently operates 113 stores in 17 cities across the states of São Paulo and Rio de Janeiro, and the partnership with SouthRock will allow Starbucks to open more retail locations in Brazil, the company ... Read More »

Brazil cover-up allegations about salmonella in chicken

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The latest phase of Operation Weak Flesh has involved 270 federal policy and 21 federal agricultural tax auditors, who performed 91 court orders across the country. The investigation is also looking at whether a number of private laboratories covered up the existence of salmonella in products from BRF. Agriculture Minister Blairo Maggi said the latest phase of investigations dealt with ... Read More »

Structural reform needed to ensure Brazil’s inclusive growth

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BRASILIA: Brazil is emerging from its long recession and is headed for solid growth in 2018 and 2019 as recent structural reforms start to bear fruit, but the country still has some way to go. The mixed outlook comes in the latest OECD Economic Survey of Brazil which notes that sustaining this recovery, unleashing Brazil’s full economic potential and spreading the benefits ... Read More »

Brazil criticizes new U.S. steel aluminum tax

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BRASILIA:  Brazil’s Finance Minister criticized on Tuesday the decision by U.S. President Donald Trump to raise import tariffs on steel and aluminum. According to Minister Henrique Meirelles the measure could harm not only the world but U.S. industry as well. Investors generally find trade warfare very negative; it is negative for everyone involved and, of course, we are against it ... Read More »

Increased productivity key to Brazil’s growth says world bank

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BRASILIA: According to a just-released study from the World Bank, Brazil must increase its labor productivity in order to grow its stagnant economy. At the country’s current productivity rate, Brazil’s gross domestic product (GDP) is estimated to grow 1.8 percent, but should the country boost productivity, says the World Bank, it could rise to as much as 4.4 percent. In ... Read More »

Brazil tainted meat probe intensifies exports to SA stopped

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BRASILIA: The turmoil at Brazilian poultry giant BRF SA intensified after it became the target of a new phase of the food-safety probe that threw the country’s meat industry into disarray last year. Emails from BRF employees point to evidence of widespread fraud that reached the company’s top management, federal police said at a press conference on Monday in Curitiba. The ... Read More »

Brazilian SEC confirms digital currency niobium coin (NBC) is not a financial asset

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BRASILIA: Brazil’s capital market, the equivalent of the U.S. Securities & Exchange Commission (SEC), made a decision at the start of 2018 without precedent anywhere in the world. It determined that the digital currency Niobium Coin (NBC) is not a security. This decision is without any precedent in the international financial system, and opens up an enormous space for ICOs,” ... Read More »

Brazil prepares to join ISA reaches 200 MW of solar DG

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BRASILIA: Brazil could join the International Solar Alliance International (ASI) soon. In the framework of the recent Brazilian accession to the International Renewable Energy Agency (IRENA), the entry into the ASI will represent an important step in the international positioning of Brazil. According to the executive president of the Brazilian solar association ABSOLAR, Rodrigo Sauaia Brazil’s accession to the ASI ... Read More »

Brazil mail implements security tax for deliveries in Rio

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BRASILIA: Brazil’s state-run postal service says it will start charging extra to deliver letters and packages in Rio de Janeiro due to a wave of wave of violence in the state. Correios said in a statement on Wednesday that the so-called emergency tax of about $1 will be charged starting March 6 onwards. It said the tax will be scrapped once the ... Read More »

Brazil receives record 5.4b in from special oil royalty

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BRASILIA: Brazil received a record 5.4 billion reais ($1.66 billion) from a special royalty on oil and gas production in the fourth quarter, just below the 5.9 billion reais it received for all of 2016, Brazilian oil regulator ANP said on Tuesday. The payments, a windfall-profits tax known in Brazil as “the special participation,” is an additional royalty paid to ... Read More »

Brazil federal tax revenue up 10 pct in January

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BRASÍLIA:  Brazil’s federal tax revenues reached 155.619 billion reais ($48.11 billion) in January, 10.12 percent more than reported in the same month a year earlier, government data showed on Monday. It was the best result for the month since 2014 as the country continues to recover from a deep recession. Read More »

Brazil court lifts bank secrecy in bribery probe involving Temer

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BRASILIA: Brazil’s top prosecutor has obtained a Supreme Court order to lift the bank secrecy of several people and companies under investigation in a port corruption case that has implicated President Michel Temer. A spokesperson for Public Prosecutor Raquel Dodge said Justice Roberto Barroso had agreed to allow prosecutors to probe bank accounts, tax information and emails, but declined to ... Read More »

Brazil to export more soymeal on B10 rules and Argentine drought

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BRASILIA: Brazil is expected to export more soymeal in 2018 as crushing rates are forecast to rise on demand for soybean oil as a fuel as well as a drought that is slashing the size of the Argentine crop, analysts have said this week. Brazil will raise its mandatory blend of biodiesel in commercial fuels to 10% on March 1, ... Read More »

Brazil Stellar export performance by plantation sector

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BRASILIA: Brazil’s 2017 pulp exports increased 14% to US$6.4 billion. Paper exports were up marginally to US$1.9 billion and woodbased panel exports jumped 16% to US$289 million. Overall, 2017 was positive for the woodbased industry which saw a 13% increase in the trade balance. In terms of volume, international trade in 2017 was good with the pulp industries seeing a ... Read More »

Brazil steel sector raps US Section 232 investigation tariff

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BRASILIA: The Brazil steelmaker sector is not interested in negotiating lower US tariffs for its products, only their elimination, Marco Polo de Mello Lopes, president of the Aco Brazil steel institute, said Friday. As a result of a US Section 232 investigation, the Commerce Department Friday recommended a tariff of at least 53% on all steel imported from Brazil and ... Read More »

Sale of HMS ocean to Brazil ‘sad day for Devonport’

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BRASILIA: The sale of Royal Navy flagship HMS Ocean to Brazil is “another shrinking of the Royal Navy in Devonport”. That’s according to Plymouth MP Luke Pollard, who has described the move as a “sad day” for Plymouth’s naval base.Devonport remains home to our amphibious ships, survey vessels and half her frigates,” said Mr Mercer. “It also continues to provide repair and maintenance ... Read More »

Amazon to expand e-commerce footprint with new warehouse in Brazil

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BRASILIA: Amazon is considering a 50,000-square-meter warehouse for lease just outside Sao Paulo, Brazil, as it looks to expand its presence in the South American nation, Reuters reported.Although Amazon already sells books from an established website, the company may also begin handling its own distribution of electronics and other items. However, complex tax laws and chaotic logistics have thus far impeded real ... Read More »

Brazil instant coffee exports could return to 2016 record

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BRASILIA: A large 2018 harvest is expected to help the Brazilian instant coffee industry recover market share and boost exports in line with 2016 records, after a weak 2017, a leading industry executive told Reuters. Brazil is the world’s largest exporter of instant coffee, as well as green coffee beans, but droughts in 2015 and 2016 hammered the robusta crop ... Read More »

Brazil orange juice stocks to jump in 2017/18

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BRASILIA: Brazilian stocks of orange juice in the 2017/18 crop are expected to double from the previous crop due to higher production, the association of local juice processors CitrusBR said on Wednesday. Stocks are projected to reach 254,200 tonnes (frozen, concentrated orange juice equivalent) by June, 137 percent more than in the same period in the 2016/17 crop. The numbers ... Read More »

Oil boom could help Rio’s economy emerge from the recession

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BRASILIA: Rio de Janeiro has been the textbook example of the financial crises facing Brazilian states. Just weeks before the Rio Olympic Games in 2016, the state declared “public calamity” – just one step away from bankruptcy. Rio’s financial collapse has led to not only public safety crises, but also protests from public servants over months of undelivered paychecks. Yet according ... Read More »