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November 1, 2021November 1, 2021

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Change at Petrobras increases uncertainty
Board meeting may be decisive to protect pricing policy One day after the government’s decision to change Petrobras CEO – the third in little more than a year – the market’s perception of risk regarding the company’s pricing policy has increased even more. The oil company’s board of directors meets on Wednesday, and the meeting […]
Bolsonaro changed Petrobras CEO again. Now what?
Valor listed points likely to define corporate governance agenda in coming weeks José Mauro Ferreira Coelho Divulgação/Bruno Spada/MME José Mauro Coelho’s dismissal from Petrobras, on Monday, left open several changes the government may put in place in the company. These include the substitution of directors and tweaks in the pricing policy of the state-owned oil […]
Analysis: Inflation nightmare is not over
Unlike what Economy Minister Paulo Guedes said, strong price hikes persist in every industry The snapshot of inflation offered by mid-month inflation index IPCA-15 in May makes it clear that Brazil is still in inflation hell, unlike what Economy Minister Paulo Guedes said last week. Inflationary pressures remain widespread, with strong increases in the prices […]
Brazil will “dance” with U.S., China, Guedes says in Davos
Economy minister said in Davos country escaped pandemic, Ukraine crises Guedes met UBS CEO Colm Kelleher Reprodução/Twitter/ME Economy Minister Paulo Guedes said that “everyone is going after Brazil” at the World Economic Forum and that, with the turnaround in world geopolitics, the country will “dance” with the U.S. and China at the same time. In […]
Medium-sized banks face more defaults than large ones
With less diversified portfolio and aggressive strategies to draw clients, they see quality of assets deteriorate Mid-sized banks are suffering more than their larger rivals in the current cycle of rising default rates. With a less diversified portfolio, a more aggressive approach to draw clients and a less attractive funding structure, these lenders tend to […]
Antitrust regulator may fine iFood for acquisition
CADE says company did not submit acquisition of Pedidos Já to approval IFood announced the purchase of Pedidos Já in August 2018 Reprodução South African investment group Naspers, which controls over 55% of iFood’s capital through its Dutch subsidiary Prosus, is the target of investigation by the antitrust regulator CADE over negotiations not submitted to […]
Fruit prices rise twice as much as inflation
Sector maintains strong export pace; farmers face disruption during pandemic recovery The prices of five of the fruits most consumed by Brazilians rose 32% to 46% between April 2020 and 2022 at Ceagesp, data from the National Supply Company (Conab) show. Ceagesp is the third largest wholesale food center in the world and the main […]
Companies report higher profits driven by economy
Analysis carried out by Valor Data with 389 public companies shows that combined sales revenue grew 21% Carlos Sequeira Divulgação It was already known that the rising costs would hit the earnings reports, but the stronger-than-expected economic activity helped companies to close the first quarter season with some slack. An analysis carried out by Valor […]
Government makes new cuts in import tax to cheapen products
New 10% reduction is extended to products like rice, beans, meat, cookies, construction materials Rice, beans, meat, cookies and construction materials are among the 6,195 tariff codes that had their import tax rates reduced by 10% on Monday, after an extraordinary meeting of the Executive Management Committee of the Foreign Trade Chamber (Gecex/Camex). According to […]
Optimism not here to stay, FGV warns
One reason is that Brazil will face long period of high interest rates to slow down inflation, which will weigh on activity Optimism of the first quarter should be considered with caution and it is not expected to continue in the second half of this year and in 2023, the Brazilian Institute of Economics of […]
Vale among world’s largest dividend payers
World’s top-10 distributed $56bn in first quarter Vale was the world’s ninth-largest dividend payer in the first quarter of 2022, according to a report by Janus Henderson seen by Valor. The Brazilian mining company, which was in the eighth place in the same period in 2021, remained the only representative of emerging markets among the […]
Aperam to invest $120m in Brazil
Largest producer of stainless steel in Latin America raised total investment in the country to R$831m Frederico Ayres Lima Maria Tereza Correia/Valor Aperam South America, the largest producer of stainless steel in Latin America, has started a new investment round in Brazil, raising to R$831 million the total that will be invested in the local […]
Nestlé buys Puravida to expand health science portfolio in Brazil
Deal is in line with category’s growth and Swiss company’s moves around the world Adrian Francisco, Flávio Passos and Marcelo Melchior Divulgação Nestlé’s Brazilian operation announced on Monday the purchase of natural food and supplement company Puravida. The value of the deal was not disclosed. The acquisition was carried out by Nestlé Health Science (NHSc), […]
CVM to analyze due diligence of Klabin directors
Brazil’s securities market authority investigates due diligence of administrators about royalties Marcelo Barbosa Leo Pinheiro/Valor The Securities and Exchange Commission of Brazil (CVM) will judge this Tuesday the sanctioning proceeding against 13 board members of Klabin. The case was an offshoot of when the company — Brazil’s biggest paper maker — was still trying to […]
Red-hot sanitation market taps tax-exempt bonds
Use of mechanism to finance projects reached all-time high levels this year The advance of basic sanitation, a red-hot market since a new legal framework came into effect about two years ago, has been increasingly financed by private-sector funds – and not only in those places that auctioned water and sewage services. The use of […]
Healthcare groups lose profit margin
Weak economy, omicron and high interest rates affect earnings reports through March Hapvida was the most affected operator in the quarter Divulgação The 14 publicly traded healthcare companies — hospitals, diagnostic medicine laboratories, and health insurance companies — had a loss in profitability in the first quarter, when compared to the same period last year. […]
Vocational education is key for Brazil but a pact is needed
Brazil needs to change way it sees this type of course, specialist says Guilherme Lichand Thays Bittar/Divulgação The advancement of vocational education to 40% or 50% of the places offered in high schools, from 10% now, is a strategy that can contribute to the country’s development, with increased productivity, reduced inequality, and increased opportunities for […]
Solvay gives up selling Latin American assets
Region gains relevance with spin-off of group’s business into two independent companies Daniela Manique Ana Paula Paiva/Valor Belgium’s Solvay, owner of Rhodia, closed the doors to a potential sale of assets in Latin America after deciding to split businesses into two independent, public companies. Instead, the operation will gain prominence within the global essential chemicals […]
Projects recreate ecosystems in Amazon, Atlantic Forest
Country is far from goal of recuperating 12 million hectares The restoration of forests in Brazil has been gaining supporters in the private sector and also in the public sector. Despite the long and uncertain way to go to reach the government’s goal of recovering 12 million hectares until 2030, recent initiatives like the one […]
B3 acknowledges error in numbers of foreign investments
Instead of inflow of R$7bn, Brazil’s stock exchange saw an outflow of R$72bn in 2021 B3, the Brazilian stock exchange, made late Friday afternoon an additional revision of the data referring to the flow of foreigners in the stock market, contemplating now 2020, 2021 and stock offerings. The secondary market balances for this year had […]