Latest news with #Brasília
Reuters
3 days ago
- Business
- Reuters
Brazil economic growth stays strong, supported by farm output, investments
BRASILIA, May 30 (Reuters) - Brazil's economy posted robust growth in the first quarter despite climbing interest rates as fixed investments, household consumption and strong farm output underpinned activity, pushing inflation to a two-year high. Gross domestic product in Latin America's largest economy rose 1.4% in the January-to-March period from the previous quarter, government statistics agency IBGE said on Friday, in line with the growth forecast in a Reuters poll of economists. GDP expanded 2.9% from a year earlier, below expectations for a 3.2% increase. On the supply side, agriculture stood out with a 12.2% gain from the previous quarter, fueled by a bumper soybean harvest. Services, which make up roughly 70% of Brazil's economy, expanded 0.3% amid a tight labor market, while industrial output slipped 0.1%. On the demand side, investments measured by gross fixed capital formation stood out with a 3.1% rise from the prior quarter. Household consumption also contributed with 1.0% growth, supported by measures from leftist President Luiz Inacio Lula da Silva to boost disposable income, including a minimum wage hike. Government spending increased by 0.1%. The strong economic performance came despite the central bank's aggressive monetary tightening, which has raised the benchmark Selic interest rate by 425 basis points since September, to a nearly 20-year high of 14.75%. The government expects soaring interest rates to weigh more on economic activity in the second half of the year, projecting GDP growth to slow to 2.4% in 2025 from 3.4% last year.
Zawya
4 days ago
- Business
- Zawya
New Achievement in Global Industrial Digital Transformation: "2025 International Cooperation Forum on Industrial Digital Transformation" held in Brazil, co-hosted by WAA
BRASÍLIA, BRAZIL - Media OutReach Newswire - 29 May 2025 - The World WLAN Application Alliance (WAA), in collaboration with the International Economic and Technical Cooperation Center of China's Ministry of Industry and Information Technology (CIETC) and the Brazilian Trade and Investment Promotion Agency (ApexBrasil), successfully co-hosted the 2025 International Cooperation Forum on Industrial Digital Transformation in Brazil. Nearly 200 stakeholders from government authorities, industry organizations, leading enterprises, research institutions, universities, and standardization and testing agencies across over ten countries and regions gathered to explore cutting-edge trends in industrial digital transformation and pathways for international cooperation, actively advancing the global development of industrial digitalization. The forum featured opening remarks by XIONG Jijun, Vice-Minister of China's Ministry of Industry and Information Technology; Jorge Viana, President of Brazilian Trade and Investment Promotion Agency; Henrique de Oliveira Miguel, Vice Minister of Science of Technology and Innovation of Brazil; ZOU Ciyong, Deputy to the Director General of United Nations Industrial Development Organization and YANG He, Executive Deputy Secretary-General of World WLAN Application Alliance. The opening session was moderated by ZHENG Hong, Director-General of the Center for International Economic and Technological Cooperation of Ministry of Industry and Information Technology. As a new engine for global economic growth, industrial digital transformation drives the upgrading of traditional industries, unleashes new growth momentum, and reshapes production, trade, and industrial landscapes. However, challenges persist, including significant disparities in digital infrastructure and technology adoption across regions, as well as divergent standards and certification systems that hinder cross-border collaboration. Deepening international innovation cooperation is critical to building a more resilient global industrial chain and fostering sustainable development. The forum unveiled multiple collaborative achievements: ApexBrasil, CIETC and the BRICS PartNIR Innovation Center signed a Memorandum of Understanding (MoU). São Paulo's Agency for the Promotion of Investments and Competitiveness (Investe SP) and China International Capital Corporation Limited (CICC) inked an MoU. WAA and partners released the "Research Report on AI-Powered New Connectivity Enabling the New Industrial Revolution". The BRICS Industrial Innovation Contest – Brazil National Round and The World Consumer Electronics Innovation Congress 2025 were officially launched. Keynote speeches were delivered by representatives from global institutions and enterprises, including BPIC, the Department of Sectoral Studies and Policies of Innovation and Infrastructure (IPEA), University of Brasília (UnB), International SparkLink Alliance (iSLA), Network Innovation and Development Alliance (NIDA), Suzano, Vale Brazil, Huawei TECHNOLOGIES CO.,LTD., CICC and Kuaishou. Participants engaged in thematic discussions on "Towards 2030 AI-Powered WAN Infrastructure (AI WAN)" and "How to Promote the Sustainable Development of Industrial Digital Transformation", sharing best practices, exploring collaboration models, and promoting synergy across industries to accelerate cooperation in the new industrial revolution. Yang He, Executive Deputy Secretary-General of WAA, stated that the 2025 International Cooperation Forum on Industrial Digital Transformation will provide significant momentum for global industrial digital transformation. It is expected to make proactive explorations in standard formulation, cooperation mechanism development, and ecosystem innovation. With its vision of "Providing the best WLAN experience for the digital world", WAA will continue to aggregate global WLAN industry chain resources, promote coordinated development across the entire industrial chain, empower the construction of digital world infrastructure, and drive industrial digital transformation through premium WLAN experiences. As the world's first international industrial and standards organization dedicated to WLAN application experiences, WAA has attracted over 80 global industry chain partners since its establishment in September 2022, establishing cooperative relationships with numerous international industrial organizations. WAA has developed a mature WLAN product performance testing and certification system, having released multiple white papers and application experience standards while completing certifications for multiple products. These efforts have significantly contributed to the healthy development of the global WLAN industry. The issuer is solely responsible for the content of this announcement. Comentropy Industry and Standards Innovation Service Center (Comentropy)
Malay Mail
4 days ago
- Business
- Malay Mail
New Achievement in Global Industrial Digital Transformation: "2025 International Cooperation Forum on Industrial Digital Transformation" held in Brazil, co-hosted by WAA
New Achievement in Global Industrial Digital Transformation: '2025 International Cooperation Forum on Industrial Digital Transformation' held in Brazil, co-hosted by WAA BRASÍLIA, BRAZIL - Media OutReach Newswire - 29 May 2025 - The World WLAN Application Alliance (WAA), in collaboration with the International Economic and Technical Cooperation Center of China's Ministry of Industry and Information Technology (CIETC) and the Brazilian Trade and Investment Promotion Agency (ApexBrasil), successfully co-hosted the 2025 International Cooperation Forum on Industrial Digital Transformation in Brazil. Nearly 200 stakeholders from government authorities, industry organizations, leading enterprises, research institutions, universities, and standardization and testing agencies across over ten countries and regions gathered to explore cutting-edge trends in industrial digital transformation and pathways for international cooperation, actively advancing the global development of industrial digitalization. The forum featured opening remarks by XIONG Jijun, Vice-Minister of China's Ministry of Industry and Information Technology; Jorge Viana, President of Brazilian Trade and Investment Promotion Agency; Henrique de Oliveira Miguel, Vice Minister of Science of Technology and Innovation of Brazil; ZOU Ciyong, Deputy to the Director General of United Nations Industrial Development Organization and YANG He, Executive Deputy Secretary-General of World WLAN Application Alliance. The opening session was moderated by ZHENG Hong, Director-General of the Center for International Economic and Technological Cooperation of Ministry of Industry and Information a new engine for global economic growth, industrial digital transformation drives the upgrading of traditional industries, unleashes new growth momentum, and reshapes production, trade, and industrial landscapes. However, challenges persist, including significant disparities in digital infrastructure and technology adoption across regions, as well as divergent standards and certification systems that hinder cross-border collaboration. Deepening international innovation cooperation is critical to building a more resilient global industrial chain and fostering sustainable forum unveiled multiple collaborative achievements: ApexBrasil, CIETC and the BRICS PartNIR Innovation Center signed a Memorandum of Understanding (MoU). São Paulo's Agency for the Promotion of Investments and Competitiveness (Investe SP) and China International Capital Corporation Limited (CICC) inked an MoU. WAA and partners released the "Research Report on AI-Powered New Connectivity Enabling the New Industrial Revolution". The BRICS Industrial Innovation Contest – Brazil National Round and The World Consumer Electronics Innovation Congress 2025 were officially speeches were delivered by representatives from global institutions and enterprises, including BPIC, the Department of Sectoral Studies and Policies of Innovation and Infrastructure (IPEA), University of Brasília (UnB), International SparkLink Alliance (iSLA), Network Innovation and Development Alliance (NIDA), Suzano, Vale Brazil, Huawei TECHNOLOGIES CO.,LTD., CICC and Kuaishou. Participants engaged in thematic discussions on "Towards 2030 AI-Powered WAN Infrastructure (AI WAN)" and "How to Promote the Sustainable Development of Industrial Digital Transformation", sharing best practices, exploring collaboration models, and promoting synergy across industries to accelerate cooperation in the new industrial He, Executive Deputy Secretary-General of WAA, stated that the 2025 International Cooperation Forum on Industrial Digital Transformation will provide significant momentum for global industrial digital transformation. It is expected to make proactive explorations in standard formulation, cooperation mechanism development, and ecosystem innovation. With its vision of "Providing the best WLAN experience for the digital world", WAA will continue to aggregate global WLAN industry chain resources, promote coordinated development across the entire industrial chain, empower the construction of digital world infrastructure, and drive industrial digital transformation through premium WLAN the world's first international industrial and standards organization dedicated to WLAN application experiences, WAA has attracted over 80 global industry chain partners since its establishment in September 2022, establishing cooperative relationships with numerous international industrial organizations. WAA has developed a mature WLAN product performance testing and certification system, having released multiple white papers and application experience standards while completing certifications for multiple products. These efforts have significantly contributed to the healthy development of the global WLAN industry. The issuer is solely responsible for the content of this announcement.
Malay Mail
4 days ago
- Business
- Malay Mail
Brazil shuts Brasilia zoo after bird flu kills wild pigeon and duck, export halt hits 24 countries including China
BRASÍLIA, May 29 — Brasilia's zoo shut out visitors yesterday after detecting suspected fatal cases of bird flu in a pigeon and a duck two weeks after an outbreak was detected on a poultry farm in Brazil's south. The agriculture department announced the zoo in Brazil's capital would be closed temporarily, but without saying when it will reopen. The dead birds were wild, not part of the zoo's stock, said the department, adding the risk of human infection 'is considered low.' Brazil, the world's leading exporter of chicken meat, halted shipments to 24 countries — including China, its biggest customer — after registering a bird flu outbreak on a farm in the state of Rio Grande do Sul on May 16. Infections in humans can cause severe disease with a high mortality rate, according to the World Health Organization, but the virus does not appear to move easily from person to person. Human cases detected so far were mostly in people who had close contact with infected birds and other animals, or contaminated environments. — AFP
Reuters
5 days ago
- Business
- Reuters
Brazil's debt issuance cost rises to highest level in more than eight years
BRASILIA, May 28 (Reuters) - The average cost of Brazil's domestic debt issuance rose to the highest level in more than eight years, Treasury data showed on Wednesday, as elevated interest rates and persistent inflation continue to weigh on the country's debt profile. The cost reached 13.05% in April, up from 12.61% the previous month and the highest since January 2017. Local currency debt accounts for 96% of the total public debt in Latin America's largest economy. Brazil's debt burden is under pressure from high interest rates - nearly half of the public debt is linked to the Selic rate - as well as persistent inflation, which has long remained above the 3% target, making inflation-linked bonds more expensive. The central bank has raised interest rates by a total 425 basis points to 14.75% since it began a tightening cycle in September to curb sticky inflation. Annual consumer prices reached 5.40% in mid-May. According to Treasury data, Brazil's total public debt stock, including external debt, rose 1.44% in April from the previous month to 7.617 trillion reais ($1.34 trillion). Gross debt issuance totaled 204.6 billion reais, while redemptions reached 164.6 billion reais, resulting in net issuance of 40 billion reais. The debt stock was also impacted by 68.3 billion reais in interest payments, the Treasury said. Year-to-date, Brazil's public debt has increased by 300.6 billion reais, driven by 259.4 billion reais in interest payments and net issuance of 41.2 billion reais. ($1 = 5.6894 reais)
