Tag Archives: South America

Poland has imposed a quarantine of travelers from Brazil, India and South Africa | Instant News


WARSAW, May 4 (Reuters) – People traveling to Poland from Brazil, India and South Africa must be quarantined, Poland’s health minister said on Tuesday, as he announced an outbreak of the COVID-19 variant first detected in India in Warsaw . and the Katowice area.

“In the case of Brazil, India and South Africa, people traveling from these locations should automatically be quarantined without the possibility of being exempted due to tests,” Adam Niedzielski told a news conference. (Reporting by Alan Charlish and Pawel Florkiewicz; Editing by Alex Richardson)

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UPDATE 1-Itau beat Brazil’s estimate on lower terms, trading gains | Instant News


(Adds return on equity, loan book)

SAO PAULO, May 3 (Reuters) – Brazil’s biggest lender, Itau Unibanco Holding SA, on Monday reported better-than-expected first-quarter profit, as loan loss provisions for bad loans fell and trading profits rose.

Recurring net income, which excludes one-time items, was 6.398 billion reais ($ 1.18 billion), more than 11% above the 5.753 billion reais forecast compiled by Reuters and 63.6% above the prior year result.

Provisions are down 59.2% from last year, when Itau set aside billions of reais to cover potential losses caused by the coronavirus pandemic.

The drop in provisions suggests that the bank believes that the brutal second wave of pandemic Brazil is experiencing will not lead to further asset quality deterioration in the coming months.

The 90 day default ratio remained stable at 2.3%, despite higher loan arrears with smaller firms.

The lender’s net interest income also rose 4.7% from a year earlier, to 18.634 billion reais, driven by trading gains as yields with clients fell.

The return on equity rose to 18.5% from 12.8% last year, and is also above the previous quarter.

$ 1 = 5,4395 reais Reporting by Carolina Mandl / Editing by Leslie Adler and Sam Holmes

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FIXED-Brazil’s manufacturing PMI fell to a 10-month low in April -IHS Markit | Instant News


(Fixed first paragraph to “April” instead of “March”)

BRASILIA, May 3 (Reuters) – Brazil’s manufacturing sector growth slowed in April to its slowest rate since June last year, a purchasing manager activity survey showed on Monday, and prices charged to customers rose to recent historic highs.

While the brutal second wave of the COVID-19 pandemic weighed on activity as a whole, employment was up and companies were more optimistic about future conditions, according to IHS Markit’s latest purchasing managers index (PMI) report.

The PMI headline fell to 52.3 in April from 52.8 in March, the lowest since last June.

A reading above 50.0 indicates expansion, while a number below indicates contraction. The series was launched in 2006.

“Survey participants saw the light at the end of the tunnel, with many hoping that greater availability of the vaccine would help curb the spread of disease and restriction (lift). Business sentiment is improving … supporting new job creation, ”said Polyanna de Lima, director of the economic association at IHS Markit.

“Inflation has continued to surge, with goods producers raising their tariffs at the third highest level in a survey for more than 15 years of history,” he said, citing global raw material shortages.

The IHS Markit employment index rose back above the threshold of 50.0, to 51.8 from 48.5, while the index of future output rose, IHS Markit said.

The output price index, which measures the price charged to customers, rose to the third highest in the series’ history and is close to the top two readings from last year.

Consumer price inflation in Brazil is running at more than 6%, well above the central bank’s year-end target of 3.75%. The central bank is widely expected to raise interest rates next week by 75 basis points for the second time. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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Brazil recorded 1,202 deaths from COVID-19 as of Sunday | Instant News


RIO DE JANEIRO, May 2 (Reuters) – Brazil recorded 1,202 deaths from COVID-19 as of Sunday and an additional 28,935 cases, according to data released by the country’s Ministry of Health.

The South American country has now recorded 407,639 total deaths from the coronavirus and 14,754,910 total confirmed cases.

New cases in Brazil have fallen since a peak in late March, although by historical standards they remain high. The country’s total COVID-19 deaths are second only to the United States. (Reporting by Gram Slattery; Editing by Peter Cooney)

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Eletrobras Brasil said SEC enforcement units asked for information | Instant News


FILE PHOTO: The logo of Eletrobras, a Brazilian electric utility company, is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, USA, April 9, 2019. REUTERS / Brendan McDermid

SAO PAULO (Reuters) – Brazilian state-controlled power company Eletrobras said the Securities and Exchange Commission’s enforcement ruling had requested information on some of the mandatory loans provided by industrial power users, without specifying potential problems.

More than 60 years ago, the Brazilian government forced industrial companies to finance expansion of the country’s power sector, pledging to repay loans.

However, payments are constantly being delayed and the government says it could later be done in Eletrobras stock, creating a legal battle.

Eletrobras also said it would delay filing the 20-F form, which was originally expected on April 30, to review its 2018 and 2019 financial statements to better reflect its employees’ retirement plans. The company does not expect significant changes.

Eletrobras hopes to deliver the 20-f on May 15.

Reporting by Carolina Mandl and Luciano Costa; Edited by Chris Reese and Cynthia Osterman

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