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Brazil federal tax auditors call two day strike

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BRASILIA:  Brazilian federal tax auditors will start a two-day strike on Tuesday to demand payment of a salary bonus, their union Sindireceita said, a stoppage that could further reduce income tax revenue. Some 7,000 workers will strike, affecting a wide range of services to taxpayers and oversight at customs posts at Brazilian ports and airports, the union said in a ... Read More »

Brazil forum to focus on expanding trade ties with Arab states

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BRASILIA: Arab-Brazilian Chamber of Commerce (ABCC) will host a forum tomorrow (April 2) in an effort to expand the trade relations between Brazil and its fourth largest export destination abroad, the Arab world. The one-day economic forum will be held under the theme ‘Building the Future’, in partnership with the Union of Arab Chambers and the League of Arab States, ... Read More »

Brazil’s pulp production grew 10.2% in January

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BRASILIAS: Brazil’s pulp production grew 10.2% in January 2018 compared to the same month last year. This represents a total of 1.83 billion tons of pulp, as the Brazilian Tree Industry (Ibá) said in the press release received by Lesprom Network. There was a small increase in total paper production, 1.9%, with the tissue sector standing out; production of this ... Read More »

Brazilian paper and pulp industry over view

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BRASIL: Brazil primarily started in the 1950s. The industry was kickstarted by the BNDES (the development bank of Brazil). Silviculture was one of the five “priority areas” for investment and development for the Brazilian government in the late 1950s which was demonstrated through several eucalyptus pulp projects. The industry started with firm regulatory support and was further strengthened by a ... Read More »

Verescence sales its Brazilian business to focus on Europe and North America

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BRASILIA:  Verescence (formerly SGD) has sold its Brazilian subsidiary Verescence do Brasil to Wheaton Brasil Vidros, the leading producer of high-end glass packaging for the cosmetics, perfume and pharmacy markets in Brazil. Thanks to this acquisition Wheaton consolidates its position in the Brazilian market and becomes one of the world’s leading glass manufacturers for the luxury sector. The operations of Verescence do Brasil, located ... Read More »

SA halts some meat imports from Brazil

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BRASILIA: The department of agriculture, forestry and fisheries suspended meat imports from three Brazilian production facilities last week as a result of ongoing investigations by Brazilian authorities into alleged food safety fraud. According to Bomikazi Molapo, the department’s spokesperson, Brazilian officials suspended the facilities on March 5, after which South Africa suspended imports from these plants on March 16, when ... Read More »

Imports of food products from Brazil shut down amid safety check scandal

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BRASILIA: The Department of Agriculture, Forestry and Fisheries has suspended imports of food products from various establishments in Brazil suspected of fraudulently evading food safety checks. Brazilian police are said to be investigating executives at the country’s main poultry exporter, BRF, after claims of corruption and the evasion of food safety checks in the Brazilian meat and poultry industries. In ... Read More »

Brazil fuel imports to fall from record as Petrobras cuts prices

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BRASILIA: Brazil fuel imports are set to fall from a record as the country’s state-owned oil company lowers prices in a bid to regain market share. Petroleo Brasileiro SA, which owns 13 out of the 16 refineries in the country, cut diesel prices by 47 per cent and gasoline by 38 per cent at the refinery gate since January. As ... Read More »

Imports halted from Brazilian meat company

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BRASILIA: Brazil by BRF, and was engaging with the relevant authorities on the matter. “Only three establishments, two of which are from the BRF company, have been implicated in the fraudulent activities. There is no indication that the other BRF plants are implicated. Investigations by the Brazilian authorities are ongoing. They have [also] suspended the establishments under investigation. None of ... Read More »

Brazilian consulate tells nationals caught importing drugs

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BRASILIA: Brazil’s consulate in Auckland is telling its nationals that if they are caught smuggling drugs into New Zealand they will only serve a couple of years in prison, a court has heard. The claim was made today during the sentencing of a 33-year-old Brazilian man who was stopped at the border last year with up to $1.68 million worth ... Read More »

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 »