Brazilian petrochemical company Braskem (NYSE: BAK) has agreed with Venezuelan state petrochemical company Pequiven to build a urea plant in Venezuela with production capacity of 1.5Mt/y, Venezuelan President Nicolas Maduro said in a visit to Brazil. After a meeting with Brazilian President Dilma Rousseff, Maduro said the urea production would be used to supply fertilizers to north and northeastern Brazil, as well as to the agricultural sector in Venezuela. Braskem has also agreed to build a plant to improve the quality of Venezuelan coke and supply it to Brazil, Maduro said, according to press reports. Maduro said exports from these plants would reduce Venezuela's US$4bn annual trade deficit with Brazil.
Brazilian banks Banco do Brasil (BB) and Bradesco have approved financing for steelmaker CSN to acquire German group ThyssenKrupp's (Frankfurt: TKA) Steel USA processing plant in Alabama and the CSA steel mill in Rio de Janeiro state, local press reported. Each bank will contribute US$1bn for the acquisition. Bradesco is the steelmaker's financial advisor in the transaction. CSN has made an offer of around US$2.5bn to acquire both plants. With the funding announcement, CSN's needs to obtain an extra US$500mn in financing for the necessary investments in the Rio de Janeiro plant from the national development bank BNDES drop significantly, making a possible intervention from the state government, which is against the acquisition, more difficult. The proposal being discussed states that CSN would acquire 100% of the Alabama rolling mill and approximately 33% of the CSA plant, but the percentage is still being negotiated. In this potential deal, ThyssenKrupp would remain a partner of the Brazilian unit and, in turn, would concede to receiving less than the original US$3.8bn price. Both plants are part of Thyssenkrupp's loss-making Steel Americas division, which the German company is seeking to sell after classifying it as a discontinued operation last year. CSA is 73.1% owned by ThyssenKrupp in a JV with miner Vale (NYSE: VALE), which holds the rest, and according to the CSA shareholders' agreement, Vale has the right to veto any mining competitor as a possible buyer. The deal also gives Vale exclusive rights to supply iron ore and pellets to the steel plant. Vale's only goal is to maintain its rights throughout the sale process. We are not looking to become active players in the [sale] process, the miner told BNamericas on May 3. On May 3, ThyssenKrupp announced it was in intense negotiations regarding the sale of the assets. CSN is Brazil's third largest steelmaker.
Brazilian President Dilma Rousseff has caused a division in the nation's Congress with a proposal to earmark all oil royalties collected by the state for public education.Rousseff made her proposal publicly after lawmakers shelved an earlier effort.She appeared in a televised speech to say she wanted to improve education for the sake of Brazil's development in a highly competitive world.The president called on all Brazilians to press legislators to back her initiative to tie oil royalties to education.Last year she proposed earmarking for education all revenue from future oil royalties, which are expected to rise when Brazil taps huge sub-salt fields off its Atlantic coast. Legislators suspended discussion of the plan last week after members argued that Brazil's states should decide how to share out the country's oil wealth.Ms Rousseff has promised to boost Brazil's sluggish economy after it was revealed during the week that Brazil's manufacturing output had barely expanded in the month of April.
The Brazilian Ministry of Development, Industry and Foreign Trade has brought a delegation of 85 business leaders to Dubai to attract $ 526 billion from foreign investors for high-profile projects in Brazil beginning 2013.
Embraer announced today that it has signed a firm order with United Airlines for the sale of 30 EMBRAER 175 jets, with options for an additional 40 of the same model, taking the firm order and options to a total of up to 70 aircraft. If all options are exercised, the combined order has an estimated value of USD 2.9 billion at current list prices. With this order for the new enhanced E175 jet, we are delighted to reinforce and extend our long-standing partnership with United Airlines, which was the ERJ 145 launch customer back in 1996, known at that time as Continental Airlines, said Paulo Cesar Silva, President and CEO, Embraer Commercial Aviation. This order from United, one of the world s leading airlines, validates our investment strategy in the E-Jets, where we offer an optimized product with all of the additional benefits of a proven and mature platform. The E175 has proven itself to be the best product for the U.S. regional market for the next decade and beyond. The partnership between Embraer and United, which is the product of the 2010 merger of United Airlines and Continental Airlines, started with the sale of EMB 120 Brasilia turboprops to Continental Airlines in the 1980s. Subsequently, Continental was also the ERJ 145 jet launch customer, eventually acquiring 275 jets, the largest ERJ fleet in the world. Currently, 38 E170s are flying with United s regional partners under the United Express brand.The E175s will be operated under the United Express brand. The aircraft will be configured in a 76-seat layout. The first delivery is scheduled for the first quarter of 2014. At United, we are focused on modernizing our fleet, and we look forward to introducing the E175 to our United Express service. Compared to the 50-seat aircraft we are replacing, these aircraft provide a superior customer experience and are more fuel efficient, said Jim Compton, United s Vice Chairman and Chief Revenue Officer. With a large first-class cabin, wider fuselage, and larger overhead bins, this aircraft brings an improved regional flying experience to our customers. As the leader in the 70 to 120-seat jet segment, Embraer continues to invest in the E-Jets family, which is flown by over 60 airlines from more than 40 countries. The Company has begun implementing a series of enhancements to the E175, including new wingtips, systems optimization, and aerodynamic refinements that will lower fuel burn by as much as 5%. Longer maintenance intervals and component improvements will increase aircraft productivity and bring maintenance costs down. All of the United Airlines deliveries will include these enhancements. More than 150 E175s are currently in service with 12 carriers around the world. The aircraft offers a 2,000 nm (3,706 km) range, short-field performance, and superior hot-and-high capability.
SAO PAULO, BRAZIL -- (Marketwired) -- 04/23/13 -- Investing in Brazil is not for the uncommitted or faint-hearted, but it offers immense promise to those who are well informed, says a new report released today by The Boston Consulting Group (BCG). While Brazilian growth has slowed recently, it retains advantages over the other BRIC economies; it is richer than India and China and larger and more democratically stable than Russia.
PALO ALTO, CA -- (Marketwire) -- 03/01/13 -- HP Enterprise Services today announced that Telefónica Vivo, the largest mobile operator in Brazil, is using HP (NYSE: HPQ) technology to accelerate the introduction of new mobile services to millions of subscribers.
OGX PetroAleo e Gas Participacoes S.A. ("OGX"), the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announces that it has signed an agreement ("Agreement") with MPX Energia S.A. ("MPX") for the sale of a 50% stake in the PN-T-168, PN-T-153, PN-T-113 and PN-T-114 onshore exploration blocks ("Blocks"), located in the Parnaiba Basin, which were acquired by OGX during the 11th Exploration License auction round organized by Brazil's National Petroleum, Natural Gas and Biofuels Agency (ANP) on May 14, 2013.
Petrominerales is pleased to announce that, following the Brazilian 11th Bid Round ("Bid Round"), administered by the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis of Brazil ("ANP"), we successfully bid on three blocks. We were awarded Block REC-T 106 and Block REC-T 107 in the Reconcavo Basin and Block TUC-T 177 in the Tucano Basin, all located in the state of Bahia, onshore Brazil.
NEW YORK, NY -- (Marketwired) -- 05/16/13 -- Moments ago, Equity-Plays.com released another issue of its world-class newsletter in which it took time to review and explain some of the most talked about situations on wall street today.
NEW YORK, NY -- (Marketwired) -- 05/16/13 -- Moments ago, Equity-Plays.com released another issue of its world-class newsletter in which it took time to review and explain some of the most talked about situations on wall street today.
GOL Linhas Aereas Inteligentes S.A., a low-cost and low-fare airline in Latin America announced a key milestone in its partnership with Delta Air Lines: the implementation of GOL codeshare on Delta's flights from Brasilia to Atlanta.
NEW YORK, NY -- (Marketwired) -- 05/14/13 -- Moments ago, Equity-Plays.com released another issue of its world-class newsletter in which it took time to review and explain some of the most talked about situations on wall street today.
IFC, a member of the World Bank Group, has become an anchor investor in BHG S.A.- Brazil Hospitality Group with a $25 million equity investment during the company's recent successful public offering of approximately $200 million.
SAO PAULO, BRAZIL -- (Marketwired) -- 05/09/13 -- Companhia Providência Indústria e Comércio - Providência (BMFBOVESPA: PRVI3), a leader in the manufacture and sale of nonwovens in Brazil with a significant presence in the Americas and operating globally, today announces its results for the first quarter 2013 (1Q13).
NEW YORK, NY -- (Marketwired) -- 05/03/13 -- Moments ago, Equity-Plays.com released another issue of its world-class newsletter in which it took time to review and explain some of the most talked about situations on wall street today.
NEW YORK, NY -- (Marketwired) -- 05/01/13 -- Moments ago, Equity-Plays.com released another issue of its world-class newsletter in which it took time to review and explain some of the most talked about situations on wall street today.
Brazil and Venezuela have flagged greater energy cooperation under plans for a 150% increase in bilateral trade between the neighbors to US$15bn/y, Brazils government said Friday (May 10). Brazils President Dilma Rousseff discussed the proposal with her counterpart Nicols Maduro in Brasilia, part of the Venezuelan leaders tour of South American countries following his April election victory. We have decided to expand cooperation projects in areas like food, electric energy, oil and agriculture as well as social development, said Rousseff, who referred to Maduro as a friend of Brazil. Today we have reinforced our commitment to a strong strategic partnership between the countries. According to a government statement, the talks principally sought to find a solution to power outages and food shortages that have afflicted the Caribbean nation. Brazil will send technicians to assess faults in Venezuelas power grid, which Maduro has blamed on sabotage by the opposition. Maduro also announced a deal with Brazilian construction firm Odebrecht to build a 1.5Mt/y urea plant for the production of fertilizer in Venezuela. In addition, the countries agreed to increase military ties and step up cooperation in the area of oil and fuel derivatives. Brazil's federal energy major Petrobras (NYSE: PBR) is still awaiting a US$5bn commitment from Venezuelas PDVSA, after the state-run firm agreed to a 40% stake in the Abreu e Lima oil refinery in 2005.
Brazil exported $7.48 million worth of pharmaceutical products to the GCC in 2012, increasing by over 73 per cent compared to $4.31 million in 2011, according to figures released by the Arab Brazilian Chamber of Commerce (ABCC). Saudi Arabia and the UAE accounted for the biggest share of the Brazilian pharmaceutical exports at 57.02 per cent and 41.61 per cent, respectively. The total pharmaceutical exports to Saudi surged by 95.63 per cent in 2012 to reach $4.26 million from $2.18 million in 2011, while exports to the UAE were valued at $3.11 million, up 56.28 per cent from $1.99 million in 2011. The top Brazilian pharmaceutical products that are exported to the region include antibiotics, dental products and vaccines for veterinary use. The Arabian Gulf region ranks 44th among the top export destinations of Brazilian pharmaceutical products, but the Arab Brazilian Chamber of Commerce believes this presents a huge window of opportunity for Brazilian exporters to further expand their trade activities in the region. Michel Alaby, the general secretary and CEO of Arab Brazilian Chamber of Commerce, said: "The dramatic increase in the value of pharmaceutical exports to the GCC clearly demonstrates the strategic importance of the Gulf region as a key trade partner of Brazil." Saudi and the UAE, two of the biggest economies in the region, are particularly important and highly influential markets, he remarked Brazil has been a leading global supplier of pharmaceutical products with 10 of the world's biggest pharmaceutical companies - Pfizer (United States), Novartis (Switzerland), Sanofi-Aventis (France), Roche (Switzerland), Medley (France), AstraZeneca (Anglo Swedish), EMS Sigma Pharma (Brazil), Eurofarma (Brazil), Aché (Brazil) and Merck (Germany) - having established manufacturing facilities in the country. Brazil's global exports of pharmaceutical products amounted to $2.98 billion in 2012 with Denmark, Venezuela, United States, Argentina and Mexico among its biggest global markets. "While the recent figures point to the robust growth performance of Brazilian pharmaceutical exports, it also underlines a huge potential to further expand our regional presence by opening new trade routes in other Gulf countries," said Alaby. "ABCC will therefore play an important role in connecting Brazilian exporters to key players in the GCC's highly lucrative pharmaceutical market,” he added.-TradeArabia News ServiceOc
Brazil's candidate Roberto Carvalho de Azevedo is well qualified to lead the World Trade Organization (WTO), Foreign Minister Antonio Patriota said Monday.
