In this week’s issue: Smaller Brazilian towns more dedicated to innovation. Unengaging campaign. The most important facts of the week.
The week in review
- Infrastructure. President Michel Temer prepares to launch a national infrastructure plan, aimed at reducing the saturation of Brazil’s highways and railways. If completed (and that’s a big if) it will reduce annual transportation costs by BRL 55bn until 2025. The plan will be launched through a presidential decree, next Monday.
- Mike in Brazil. U.S. Vice President Mike Pence visited Brazil this week, specifically the cities of Brasilia and Manaus. Though Mr. Pence said the U.S. will give Brazil USD 1.2 million to support Venezuelan refugees, he displayed a hard stance on immigration: “If you can’t come legally, don’t come at all.” Other than the discussion of migrants, Pence’s visit appeared light on substance, mainly due to President Michel Temer’s status as a lame duck.
- Oil & gas. Petrobras announced the sale of its Paraguayan operations to Copetrol, a local company. The deal is reportedly worth BRL 1.45bn (USD 383.5m) and is part of the state-owned oil and gas company’s
divestments plan, which kicked off back in 2015. The assets include 197 gas stations across...