Brazil Financial News

06.07 / 01:33

Strategy No plans as of now to create a common currency: BRICS Bank CFO

New Development Bank, a financial institution created by the BRICS bloc of emerging markets, doesn't have any immediate plans for the group to create a common currency, its vice president and chief financial officer said. While the members of BRICS — Brazil, Russia, India, China and South Africa — are pushing to conduct more trade between each other in local currencies, they aren't ready to challenge the global dominance of the dollar, Leslie Maasdorp said in an interview on Wednesday with Bloomberg TV.

05.07 / 16:51

Citi Target Digital Amazon Aware Amazon Global Selling to surpass $8 bn in cumulative exports from India in 2023

NEW DELHI : Exports by Indian sellers to Amazon marketplaces the world over are on track to surpass $8 billion in 2023, said a top executive at the company. The business update comes over a year after the global e-commerce marketplace had doubled targets to achieve $20 billion in cumulative e-commerce exports from India by 2025. The update is part of Amazon Global Selling, the retailer’s e-commerce exports program, that has grown to more than 1.25 lakh Indian exporters since its launch in 2015.

05.07 / 03:19

Manufacturing Forrester Pfizer RIO PEP Backed PEP checks out JBS-backed engineering shop Scott Technology

Pacific Equity Partners is considering a tilt at New Zealand-listed engineering business Scott Technology, which is 53 per cent owned by Brazilian meat processor JBS and has Macquarie Capital running a strategic review.

05.07 / 01:39

Target Binance Digital Platform LiveCoin Crypto Exchange lawmakers Crypto scams MPs Brazilian Lawmakers Want to Hear from Binance, Bitso & OKX as MPs Target Crypto Scams

Brazilian lawmakers have summoned the heads of major crypto exchanges to parliament, with representatives of the trading platforms Binance, Bitso, and OKX all set to attend.

04.07 / 18:21

Citi Brazil's Neymar fined in USD 3.3 million for illegal artificial lake at mansion outside Rio

Neymar was fined more than USD 3.3 million for violating local environmental rules during renovations at his mansion in the city of Mangaratiba outside Rio de Janeiro. The Mangaratiba city hall said in a statement Monday night it had issued four fines totalling about 16 million Brazilian reals after Neymar was accused of illegally building an artificial lake at his mansion.

04.07 / 17:47

Provident Booking Manufacturing Strategy Align Honda stake Samvardhana Motherson to acquire 81% stake in Honda Motor arm Yachiyo; check details

Also Read: Samvardhana Motherson to buy 100% stake in France-based Cirma Entreprise for 7.2 million euros ‘’The company has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, said SAMIL. The acquisition requires approval from authorities in China, Brazil, United States, as well as the Reserve Bank of India, said SAMIL in the exchange filing.

04.07 / 16:01

Remark Lula says Mercosur eyeing fresh trade deals, increased regional commerce

SAO PAULO (Reuters) — Brazilian President Luiz Inacio Lula da Silva said on Tuesday he wants the Mercosur bloc to advance in talks for trade deals with Canada, South Korea and Singapore, while also aiming to increase commerce with other countries in South America.

04.07 / 12:45

COST Lowe's Reuters CEO India's June palm oil imports jump 49% from May over lowest prices in 28 months; check details

Also Read: Decoding the dilemma behind escalating cooking oil imports But lower imports in May and the price correction encouraged Indian buyers to increase purchases in June, Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage and consultancy firm told Reuters. Price-sensitive Asian buyers typically rely on palm oil because of the low cost and quick shipping times.

04.07 / 02:13

Citi Waters Brazilian football star Neymar fined $3.3 million. Here's why

Brazilian football star Neymar has been fined 16 million reais, or $3.3 million, for breaking environmental regulations while building his coastal mansion on the outskirts of Rio de Janeiro. Brazilian authorities accused Neymar of violating the use and movement of fresh water sources, rock and sand during the construction of the luxury property. The Paris Saint-Germain star has 20 days to appeal against the fine imposed by the Brazilian authorities.

03.07 / 20:07

UPS Target Strategy Global Trade Global trade fairs on cards; sectoral targets for $1 trillion exports by ’30

food, textiles and auto components, on the lines of Messe Frankfurt, Gulfood and Canton Fair, to achieve 12% growth in goods exports by 2030. These suggestions figured in a meeting held by commerce and industry minister Piyush Goyal with industry and exporters on Monday.

03.07 / 14:27

UPS FIVE Manufacturing Strategy Mobile Motorola Motorola aims to be among top three smartphone brands in India: President Sergio Buniac

Motorola Mobility aims to be among the top three smartphone makers in India and globally in the next three years, growing sales four times over the same period, its president Sergio Buniac said. The handset maker is increasing its investments in India this year to double its sales and will also open its first camera lab within this quarter. “…we are investing a lot in the brand again, and you will see our investments increase significantly.

01.07 / 02:27

FIVE Extreme Former Brazil President Jair Bolsonaro barred from running for office for 8 years

Brazil's highest electoral court has barred former President Jair Bolsonaro from running for political office till 2030. This comes after Bolsonaro was found guilty of abusing his power and misusing public media during last year's election campaign, CNN reported. The former president was found guilty by five out of seven judges, effectively ending any hope of a political comeback in the forthcoming 2026 election.

30.06 / 22:41

business Binance Latin America Bitfinex MicroStrategy expansion Crypto Biz: Binance’s chaotic June, miners gear up for halving, Bitfinex’s Latam expansion

June was a tough month for Binance, as it faced stress tests worldwide after the United States Securities and Exchange Commission (SEC) filed a lawsuit against the crypto exchange and its leadership.

30.06 / 21:25

Target FIVE Extreme Brazil’s ex-President Jair Bolsonaro barred from running for political office until 2030; Here’s what happened

Brazil's former President Jair Bolsonaro has been barred from running for political office until 2030 by the country's highest electoral court. The court reportedly found him guilty of abusing his power and misusing public media during the 2022 election campaign. This verdict effectively ends any possibility of Bolsonaro making a political comeback in the upcoming 2026 election.

30.06 / 12:27

UPS FIVE Digital reform UK calls for UN reform with permanent Security Council seat for India

United Nations as one of its top transnational priorities and supported India's bid for permanent membership of the powerful Security Council. India has been at the forefront of the years-long efforts to reform the UN Security Council (UNSC), saying it rightly deserved a place as a permanent member of the United Nations. Currently, the UNSC has five permanent members — China, France, Russia, the UK and the US.

29.06 / 10:57

business Binance Europe banking Support Binance to lose support of its euro banking partner

The cryptocurrency exchange Binance informed users that its current euro banking partner, Paysafe Payment Solutions, will not continue supporting the exchange.

27.06 / 06:19

UPS Binance Aware Police Bitcoin Brazil: Suspected Braiscompany Crypto Fraudsters Detained in Argentina

Three suspected Brazilian crypto fraudsters have been detained while trying to flee to Argentina – as police continue to probe the troubled Braiscompany.

26.06 / 08:37

BTC LiveCoin Bitcoin hospital National Brazilian Hospital Will Accept Crypto Pay in National First

A hospital in the Brazilian state of Rio Grande do Sul has become the first in the nation to accept crypto pay.

23.06 / 16:13

Provident Target Binance Platform Action Discover Bitcoin Executive regulatory Binance Brazil Executive Called to Testify in Congress Amid Regulatory Crackdown

Amidst a global regulatory crackdown on Binance, the director of Binance Brazil, Guilherme Haddad, has been summoned to testify before the Brazilian parliament.

23.06 / 10:03

business Ethereum Winklevoss Twins Staking Ethereum staking Winklevoss twins’ Gemini launches Ethereum staking in the UK

Winklevoss twins’ cryptocurrency exchange Gemini continues to actively expand its services across the world, debuting Ethereum staking in the United Kingdom.

23.06 / 09:23

Adoption economy economics financial literacy BRICS BRICS: History, objectives and an overview of the global alliance

BRICS is an acronym that represents an alliance of five major emerging economies: Brazil, Russia, India, China and South Africa. Jim O’Neill, an economist at Goldman Sachs, coined the phrase in 2001 to emphasize the combined potential of these countries in the global economy.

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