Search Results for: Brazilian

BRAZIL’S senate is debating a bill 626/2011 that could lift an existing ban on harvesting sugarcane in the country’s Amazon region to make ethanol fuel. The proposal has been supported by Brazil’s centrist President Michel Temer but opposed by environmental groups and the Brazilian Sugarcane Industry Association (UNICA – União da Indústria de Cana-de-Açúcar).…

BRAZIL’S automotive industry is awaiting the final details and presidential sanction of a 14-year incentives program called Rota 2030, that will offer up to Brazilian Reals BRL1.5 billion (USD467.4 million) in annual tax credits sector-wide to auto and auto parts manufacturers selling cars in Brazil.…

THE EUROPEAN Commission wants to delist all companies involved in the latest cases of fraud in Brazil’s meat sector from having access to European Union (EU) markets, the EU executive’s spokesperson for health and food safety Anca Paduraru has told GlobalMeatNews.…

BRAZIL’S textile sector would contract, should the country abandon its protectionist policies, however, its added value clothing industry would perform better, an Organisation for Economic Cooperation & Development (OECD) report has concluded.

Noting that average tariffs levels weighted by imports are almost twice as high in Brazil as in Colombia and more than eight times higher than in Mexico or Chile, the report highlighted how around 450 tariff lines are at the maximum of 35%, including textiles, apparel and leather.…

MAJOR shifts in the power of exporting countries within the meat and livestock sector in the past decade have been identified in new statistical analysis released by the World Trade Organisation (WTO). The global body has noted how India between 2006 and 2016 became a bovine meat export power house (notably in buffalo meat) with overseas sales rising from 79,400 tonnes (1.9% of world exports) to 1.2 million tonnes (18.7%) and the world’s largest exporter to boot.…

Brazil’s textile industry has reported an overall growth in sales of 3.2% for 2017, and even bigger increases are forecast for the year ahead. Latest data from the Brazilian Textile and Apparel Association (ABIT – Associação Brasileira da Indústria Têxtil e de Confecção) predicts an overall growth in revenues of 3.29% for the year 2018.…

THE RUSSIAN government has said it plans to significantly increase its beef exports from Latin American states (except from Brazil) to compensate for potential domestic supply shortages created by the existing ban on imports of meat from western countries and a recent ban on beef imports from Brazil.…

Brazilian state-controlled oil giant, Petrobras, is offering to pay out USD2.95 billion to settle an American class action lawsuit by shareholders that lost money in the massive Brazilian corruption scandal uncovered in Operation Car Wash (Lava Jato). In a statement, Petrobras has said that the payout, which still needs to be agreed by a US federal court, is intended to resolve all pending and prospective claims against the company in the US, “eliminates the risk of an adverse judgment … and puts an end to the uncertainties, burdens and costs of protracted litigation.”…

EUROPEAN Union (EU) and Brazilian textile industry associations have joined forces to draw up common proposals to put to negotiators drawing up the clothing and textile chapters of a future free trade agreement (FTA) between the EU and Mercosur group of countries, consisting of Argentina, Brazil, Paraguay and Uruguay.…

OECD SAYS 49 JURISDICTIONS WILL AUTOMATICALLY EXCHANGE TAX INFORMATION THIS YEAR

THE IDENTITY of 49 jurisdictions that will automatically exchange tax information in 2017 under a global standard has been revealed by the Organisation for Economic Cooperation & Development (OECD).…