Monday, 1 March 2010

News Update: Strong Brazilian Performance - but Vale should be careful in China

On Vale in China:

  • The Chinese steel company Hebei Iron and Steel Group has made a request to the Chinese Trade Department that Vale limit its distribution operations in some parts of the Chinese territory. No good for Vale.

On Brazilian Equity Firms:

  • Buyout firms are poised to spend $9 billion in Brazil on everything from infrastructure to oil exploration as the economy recovers from a recession.

On Renova’s IPO:

  • Renova Energia SA, a Brazilian renewable energy company, said it may raise as much as 867.9 million reais ($480 million) in an IPO.

On Brazil’s Trade Surplus:

  • Brazil posted a $394 million trade surplus last month after a deficit in January as exports rose more than imports. This is good as it means that we’re selling more than we’re buying.

No comments: