Archive for June, 2013

Government Removes IOF Tax on Foreign-Exchange Derivatives

Comments Off | 06-15-2013

On Wednesday (June 12), the Finance Minister, Guido Mantega, announced a new measure to remove the Financial Transactions Tax (IOF) on foreign-exchange derivatives. The measure allows for a greater supply of dollars in the futures market and decreases depreciation of the real.
Mantega explained that in 2011 the trend was for investors to increase the short [...]

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Caixa Expands FGTS Withdrawal Service In Europe

Comments Off | 06-15-2013

Caixa Econômica Federal (Federal Savings Bank) has expanded operation of the Government Severance Indemnity Fund (FGTS) in another six European countries. Brazilians residing in Germany, Austria, Spain, Italy, Portugal and Switzerland can now withdraw their benefit without needing to return to Brazil. The strategy, which began in Europe in May 2012, is part of a [...]

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FINEP Launches R$ 41 Million Tender for the Shipbuilding Industry

Comments Off | 06-6-2013

The Brazilian shipbuilding industry has just received R$ 41 million to invest in new technology and equipment. FINEP has launched a public invitation with non-reimbursable funds (which do not need to be returned) from the National Fund for Scientific and Technological Development (FNDCT)/Sector Funds to support cooperative projects between scientific and technology research institutions and [...]

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Agricultural and Livestock Plan to Provide R$ 136 billion for the 2013-2014 Season

Comments Off | 06-6-2013

The 2013-2014 Agricultural and Livestock Plan (PAP), announced on Tuesday (June 4) in Brasilia by President Dilma Rousseff, reached its highest financial volume ever of R$ 136 billion. The amount is divided into R$ 97.6 billion for costing and marketing financing, and R$ 38.4 billion for investment programs. Credit available under the plan has increased [...]

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Over 500% Increase in Loans under the ABC Program in Three Years

Comments Off | 06-5-2013

Since the creation of the Low Carbon Agriculture Program (ABC) credit line, under the 2010-2011 Agricultural and Livestock Plan, 14,000 contracts have been concluded, totaling over R$ 4.46 billion in finance agreements. In three years, there has been a 507% increase in the acquisition of loans by farmers to adopt technologies for the recovery of [...]

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Brazilian government announces airspace control plan for the Confederations Cup

Comments Off | 06-4-2013

The six host cities (Brasilia, Recife, Fortaleza, Salvador, Rio de Janeiro and Belo Horizonte) are to be patrolled by 10 aircraft. Government agencies will operate collaboratively
On Wednesday (May 29, 2013), in Rio de Janeiro, the Brazilian Air Force (FAB) announced planning for airspace control and defense actions during the FIFA Confederations Cup Brazil 2013. The [...]

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