China investiert weiter heftig in Brasilien: Schlagzeilen der internationalen Ausgabe von VALOR ECONÔMICO

BUSINESSChina Three Gorges becomes leading private-sector generator in Brazil Chinese company buys hydroelectric plants of Duke Energy, in newest chapter of Asian country’s investment wave in Brazilian power assets

POLITICS Spending-cap bill passes first round of Chamber voting Temer government appears poised to pass key fiscal reform, in a move that could trigger a market rally on Tuesday COMMENTARY Memories of a childish socialism... Perhaps it is time to set aside the dreamy search for a “perfect” society and admit the possibility of building a more modest “civilized” one BUSINESSBrazil is second largest ad market of Instagram ECONOMYBrasília wants more buyout programs at state-owned companies MARKETSCVM expands scope of agribusiness receivables BUSINESSPetrobras accelerates decommissioning of offshore rigs ECONOMYCompanies criticize oil price revision for royalty payments

BRIEFS New Anatel president says creation of Oi was a "mistake" The new president of the National Telecommunications Agency (Anatel), Juarez Quadros, told Valor that it was a mistake for the government to have authorized the merger of Telemar with Brazil Telecom in order to create Oi in 2008. He explained that the transaction, authorized by a decree from former President Luiz Inácio Lula da Silva, was not illegal, but allowed two "highly-indebted" companies to merge. "The proper strategic review was not undertaken," said Mr. Quadros, who takes office this Tuesday at Anatel. Oi’s debt totals R$65 billion, and the carrier has been under bankruptcy protection since June. The telecom owes more than R$13 billion to Anatel alone. Mr. Quadros pointed out that there is an "economic disaster" that needs to be resolved. "If they were still separate, it would be much easier to solve [the problem]. The debt would be lower, the geographic area smaller. Therefore, we’ve multiplied the problem," he noted. Ports Law to undergo changes aiming at faster private investment Judge demands Facebook to be blocked for 24 hours in Brazil New international bond sales on hold at Petrobras Brazil sugar exports facing possible restrictions in China Airlines await clarification of tax increase on leasing operations Students with Fies loans go to court for reimbursement on 2015 tuition Industrial services provider Priner aiming to expand operations

Neugierige brasilianische Papageien wollen anbändeln

Gefilmt am 9.10.2016 in der Nähe von Ubatuba an der Bundesstraße Rio - Santos

Überschriften der internationalen Ausgabe von VALOR ECONÔMICO vom 10.10.2016

MARKETS

Caixa to free up R$34 billion for mortgages

The bank has overcome limitations in funding, but faces weak demand for loans; also plans to transfer loan warranties to the Treasury

BUSINESS

Genish to step down from Telefônica

Chairman Eduardo Navarro will replace him in January; CEO Amos Genish does not plan retirement but for now will focus on his children

ECONOMY

Pay raise below inflation reaches 96% of state companies 

According to Planning Ministry, federal state-run firms are avoiding granting real wage increases in order to help fiscal adjustment 

ECONOMY

Pension costs exceed 30% of states’ personnel expenses

Disbursements on retirees and pensioners grow at faster pace than that of current workers, creating hurdles to complying with spending caps

BUSINESS

State Grid will create new power distributor in Brazil 

Chinese group plans to set up new unit after concluding purchase of CPFL, which could include a bid for Celg D and other Eletrobras distributors

COMMENTARY

Angela Bittencourt

Chamber vote will dominate market moves

Holidays lower liquidity but crucial vote on spending-cap bill and revamp of capital-repatriation law may trigger rallies

Claudia Safatle

Effects of PEC 241 vote on the economy

Government is marshaling its forces to approve reforms that might help Central Bank ease rates and bring optimism amid a still uncertain outlook 

Ribamar Oliveira

How to spend the repatriated money

Treasury Secretary Ana Paula Vescovi says funds that had been sent illegally abroad won't be used for new spending

MORE NEWS

• MARKETS

  Itaú expands high-income edge with Citi deal

  
  Deal does not herald major changes in competition for bank clients in Brazil, but still underscores importance of wealthy client segment
• BUSINESS

  BM&FBovespa program for state companies fails to draw participants

  Some companies are considering it but remain slow to join despite potential benefits
• POLITICS

  Spending-cap bill becomes even stricter

  Bill sponsor Deputy Darcísio Perondi changed proposal in a way that blocks creation of new spending without corresponding revenue 
• POLITICS

  Geddel guarantees key reform will be approved

  
  Top political negotiator of President Michel Temer says he is already in talks for Social Security proposal
• ECONOMY

  Petrobras speeds up reduction of losses on fuel prices

  
  State-run oil company managed to cut losses by 64% in September, to R$21.1bn year over year 
• AGRIBUSINESS

  Brazil’s grain harvest to hit record in 2016/17

  Estimates of National Supply Company point to 200m tonnes harvested next year amid possibility of favorable weather 
• POLITICS

  Temer studies provisional measure to solve Fies delays

  MP would clear R$1.1bn for the Ministry of Education and avoid jeopardizing the education of nearly 2 million students enrolled in the program
• BUSINESS

  EAS lines up $1.7bn order aimed at securing Petrobras leases

  Embattled shipyard wants to ensure operations after it delivers the last ship of an already scaled down contract with Transpetro
• MARKETS

  Mastercard leads push to expand card usage on public transportation

  
  Company launches pilot project in São Paulo and Rio to launch service that has gained popularity in other major world cities
• ECONOMY

  AGU seeks deal with Caixa to compensate savers in lawsuits

  
  New minister Grace Mendonça says biggest concern are Supreme Court cases that threaten public accounts
• BUSINESS

  Ready to invest, CCR wants review of concession terms

  
  Despite claiming being up to date with its financial and operating obligations, concessionaire plans to make adjustments in current projects
• BUSINESS

  Multiplus and Smiles face challenge from grey market

  
  Middlemen segment helps consumers trade unused miles, but loyalty programs complain they distort market amid lack of regulation
• BUSINESS

  Correios to seek new partner for postal bank

  Postal service to launch bidding for new 10-year contract after Banco do Brasil declines opportunity for renewal 
• BUSINESS

  Wave brings together senior executives to do business

  
  Using a new model, company plans to build the bridge between professionals and corporations
• BUSINESS

  Government will intervene in Transnordestina project

  State-owned company Valec could take over railroad project headed by CSN after failed request for new financing
• BUSINESS

  Bradesco’s R$100m bet on air conditioners

  Bank’s private-equity unit purchases 30% stake in retail chain Multi-Ar; owners argue that market consolidation creates opportunities
• BUSINESS

  Developers hit by consumer litigation

  
  Avalanche of consumer lawsuits seeking cancellation deteriorates even more already delicate finances of companies; PDG seeks new debt talks
• BUSINESS

  New sale model for BR attracts more investors

  
  Petrobras forwards pitch to 60 potential investors in BR Distribuidora, Brazil’s biggest fuel retailer and a key asset for its divestment plan
• ECONOMY

  Proposed changes to repatriation bill ease reporting requirements

  
  New version of the legislation leaves loopholes for possible past tax evasion and money laundering 
• BUSINESS

  Hospital da Bahia in talks to sell control to Fosun

  
  Chinese conglomerate plans to invest R$3bn to buy a stake and create hospital network in Brazil 
• ECONOMY

  Manufacturers fear damaging disclosures from stock reporting system

  
  Companies want to again postpone the operations of “Block K,” a new system offering real-time inventory data to state and federal tax officials
• BUSINESS

  Cargill develops soybean oil as a cosmetic product

  
  The company expects the product to account for 15% of soybean oil sales by 2020
• ECONOMY

  Fall in industrial output points toward another GDP drop

  Production of durable goods like autos still lags, but uptick in capital goods output offers a ray of hope 
• ECONOMY

  Ilan Goldfajn acts to temper market optimism over rate cut 

  Central Bank president signals that only lower inflation and successful economic adjustments will trigger monetary easing
• ECONOMY

  Reform proposal would end full heritable pensions

  Minimum age would rise to 65 years, with 15 and 20 year-transition periods for men and women, respectively
• ECONOMY

  BNDES goes green in new energy projects

  
  Development bank will focus on social and environmental returns and prioritize alternative sources, and even quit financing dirtier plants
• MARKETS

  Despite 100% rise, Petrobras consolidates leadership among stock picks

  Ecorodovias, Klabin and BM&FBovespa are the new recommendations for October’s Carteira Valor

Neues aus Absurdistan

Präsident Temer kämpft darum, die Staatsausgaben gesetzlich zu begrenzen. Das ist wohl ein Kampf gegen Windmühlenflügel, denn gleichzeitig stellt der Senat 28 Aufzugsführer ein, damit in den 12 Aufzügen keiner der hohen Amtsträger einen Knopf drücken muss. Die Kosten dieser Aktion? 1,3 Mio. R$ jährlich! Das sind mit dem heutigen Kurs 356 T€ jährlich, was umgerechnet auf einen Aufzugsführer 1.060 €/Monat  oder 3.869 R$/Monat ergibt. In der Privatwirtschaft würde eine solche Tätigkeit wohl höchstens den Mindestlohn einbringen. Mit dem kleinen Unterschied, dass es diese Funktion in der Privatwirtschaft wohl kaum gibt, weil sie einfach überflüssig ist.

Alle sind gleich!

Aber manche sind gleicher! Das hat schon George Orwell in ANIMAL FARM geschrieben, ohne je die ex-presidenta Dilma Rousseff kennengelernt zu haben. Diese hat das gemacht, was man nicht nur in Brasilien, aber besonders gerne hier macht, nämlich seine Macht und seinen Einfluss zum eigenem Vorteil eingesetzt.

Zuerst eine Statistik: Wenn man sich in Brasilien zur Ruhe setzt und seine Rente/Pension beantragt, muss man persönlich bei dem Instituto Nacional do Seguro Social (INSS) vorsprechen und dann im Mittel 74 Tage auf die Gewährung warten, in Brasília sogar 115 Tage.

Durch den Einsatz des ehemaligen PT-Ministers unter Dilma, Carlos Gabas, der eine Frau, die eine Vollmacht Dilmas hatte, zum INSS begleitete und dort nicht in der üblichen Schlange anstand, sondern vom Chef der aufgesuchten Agentur, Iracemo da Costa Coelho, in einem Besprechungsraum empfangen wurde, erhielt Dilma die Ruhestandsbezüge in weniger als 24 Stunden nach ihrer Entfernung von der Präsidentschaft zugesprochen. Sie erhält den höchstmöglichen Betrag von 5.189,82 R$ monatlich. Für brasilianische Verhältnisse viel, gemessen an ihren vorherigen Bezügen von über 30.000 R$ im Monat aber wenig. Sicher kann sie ihr reduziertes Einkommen aber durch Vortragshonorare u.ä. aufbessern. Ihr Amtsvorgänger Lula hat es dadurch immerhin zum Multimillionär gebracht.

Die INSS-Mitarbeiterin Fernanda Cristina Doerl dos Santos hatte am 10.12.2015 insgesamt 16 Änderungen im Register der ehemaligen Präsidentin vorgenommen, 8 Tage, nach dem der ex-Präsident der Abgeordnetenkammer, Eduardo Cunha, das Amtsenthebungsverfahren gegen Dilma zuließ.

Gabas, Iramo da Costa Coelho und Fernanda Cristina Doerl dos Santos sind zur Zeit beurlaubt und ihr sonst lobenswerter, aber hier ungewöhnlicher Diensteifer ist Gegenstand einer internen Untersuchung.