Former president Luiz Inácio Lula da Silva won the second round of the presidential elections in Brazil on Sunday with 50.84% of the votes, compared to 49.16% for the current president, Jair Bolsonaro, with 99.10% of the ballot boxes counted. The leader of the Workers’ Party (PT), who governed between 2003 and 2010, will once again occupy the presidency of an extremely divided Brazil from 1 January 2023 and for…
Crédito y Caución (Atradius) | On October 2, general elections were held in Brazil in order to elect all seats in the lower house of Congress, one-third of seats in the Senate, all 27 state governors and the president. The race for president will be decided in a run-off on October 30, featuring incumbent far-right Jair Bolsonaro and left-wing former President Luiz Inacio Lula da Silva. In a polarised first…
Intermoney |In line with information provided by Aena to the Stock Market Regulator (CNMV), and picked up by various media outlets, the airports operator (Hold, TP 140 euros/share) has won an auction to manage 11 airports in Brazil. The duration of the contract is 30 years and the value is 780 million euros, which includes both the price of the concession itself and an obligatory payment to the regulator. The…
The impact of the coronavirus pandemic has put an end to the modest economic rebound since 2017. The recovery followed Brazil’s longest and deepest recession in 2014-2016, when GDP shrank by almost 9%. However, Brazil’s less stringent containment measures and stronger fiscal support have led to smaller output losses compared to most other countries in the region. In 2020 GDP is expected to contract by 4.6% (an upward revision from the 6.2% contraction expected in August). Business confidence has rebounded since June.
ACS’ subsidiary Cobra has won a contract worth 126 million euros to build various electricity transmission lines in Brazil, boosting its portfolio of these projects in that country to 3 billion euros.
Caixin | As two of the most significant economies driving global growth today, commentators often compare the emerging market behemoths, China and India. In recent times, the two countries have eclipsed Brazil, Russia and South Africa, their BRICS counterparts, in terms of economic growth. However, there are significant differences between the two Asian economies.
If Telefonica approves the choice of current CEO José María Álvarez-Pallete to replace Cesar Alierta as Chairman, he will be the first Executive Chairman not to be appointed by the Spanish government. Alvarez-Pallete will face two main challenges: securing European Commission approval for the sale of O2 and dealing with the weakness of the LatAm economies, particularly Brazil.
Citi | After the recent events, culminating in the execution of the bench-warrant of former President Lula on February 4 , we have reassessed the probability of our current muddling – through macroeconomic scenario and conjectured alternative scenarios .
Brazil’s financial markets are being hit by political turmoil, economic deterioration and external factors.
MADRID | The Corner | Vivendi board has decided to enter into exclusive talks with Telefónica for the disposal of its Brazilian subsidiary company Global Village Telecom (GVT), preferring Telefónica’s bid over the Telecom Italia’s one. Telefónica will pay a total consideration of €7.45 bn, of which €4.66bn in cash and the remainder in newly issued shares of the combined Telefónica Brazil-GVT entity corresponding to a 12% economic interest.