Brazil’s Magazine Luiza launches fintech with personal loans and credit cards for businesses

RIO DE JANEIRO, BRAZIL – On May 12, Magazine Luiza (MGLU3) officially launched Fintech Magalu. According to the company, the fintech is already one of the ten largest in Brazil, with more than 16 million unique customers among individuals and companies. The company highlighted in a statement that the arrival of the Fintech Magalu brand … Read more

Commodity prices at a glance – May 12

RIO DE JANEIRO, BRAZIL – With the new geopolitical situation in the world, the unprecedented sanctions frenzy, and the possibility of more global events, The Rio Times will list daily prices of major commodities for comparison and review.     &nbsp . . . To read the full NEWS and much more, Subscribe to our … Read more

Will the Bolsonaro administration use its majority on the Petrobras board to stabilize diesel prices in Brazil?

RIO DE JANEIRO, BRAZIL – The federal government wants to keep Petrobras’ diesel oil prices stable in the future. This would be done through the board of directors of the state-owned company, where the Union has 6 of the 11 seats, writes Poder360 newspaper in its latest report. According to the newspaper, the aim is … Read more

Brazil: Volume of services advances 1.7%, highest for the month in the historical series since 2011

RIO DE JANEIRO, BRAZIL – The volume of services provided in the country rose 1.7% in March, compared to February, according to data from the Monthly Service Survey (PMS) released on Thursday, May 12, by the Brazilian Institute of Geography and Statistics (IBGE). In February, the sector had advanced 0.4% (revised data after the initial … Read more