Brazil has strong economic fundamentals and is pursuing increased infrastructure investment to support continued growth. The government aims to invest over $1.9 trillion in infrastructure like energy, transportation and sanitation from 2013 to 2016 through public-private partnerships partially financed by BNDES. Increased infrastructure investment is expected to boost productivity and economic integration, contributing to an estimated 0.5 percentage point increase in potential GDP growth per year.
Breakfast Forum: The Current State of the Capital Markets 2015BoyarMiller
As part of its ongoing Breakfast Forum series, BoyarMiller gathered industry experts for a panel discussion on the Current State of the Capital Markets. Speakers included:
• Drew Kanaly, Kanaly Trust – Equity & the Public Markets
• Colt Luedde, GulfStar Group – Private Equity and M&A
• Brandon Annett, Texas Capital Bank – Commercial Banking & Real Estate Lending
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Andrea Enria's (Chair of the Supervisory Board, European Central Bank) presentation at FIN-FSA Conference on EU financial markets today and in the future
Breakfast Forum: The Current State of the Capital Markets 2015BoyarMiller
As part of its ongoing Breakfast Forum series, BoyarMiller gathered industry experts for a panel discussion on the Current State of the Capital Markets. Speakers included:
• Drew Kanaly, Kanaly Trust – Equity & the Public Markets
• Colt Luedde, GulfStar Group – Private Equity and M&A
• Brandon Annett, Texas Capital Bank – Commercial Banking & Real Estate Lending
Banking sector resilience – the post-pandemic outlookFinanssivalvonta
Andrea Enria's (Chair of the Supervisory Board, European Central Bank) presentation at FIN-FSA Conference on EU financial markets today and in the future
Esta apresentação é parte da palestra O BNDES Mais Perto de Você, que apresenta as principais formas de apoio financeiro do BNDES para micro, pequenas e médias empresas.
Group work in International Trade (March 2015):
PESTLE model should help us to evaluate the country Brazil in terms of its attractiveness as a trade partner country. My part: "Future Development" of Brazil (Slide p. 35)
In course of the presentation, you get familiar with Brazil's politics, its economical situation, social environment, legal issues and shortly with its external environment. The research was conducted in March 2015.
The presentation highlights the status of Bangladesh economy, its challenges and prospects in future. Current scenario of Bangladesh economy along with the investment perspective of the country has been highlighted in a well manner.
The current Bangladesh Economic Update reveals that fall in growth in collection of revenue, rising per capita debt burden and shrinking public sector investment may contract expansion of gross domestic product (GDP).
Market outlook April 2021 - ICICI Prudential Mutual Fundiciciprumf
The resurgence of the pandemic may delay the recovery and growth of the Indian Economy. And with limited room for rate cuts going forward, investors could benefit from active duration management and accrual strategies.
To know more, read our Market Outlook for April 2021.
Alberto Carrasquilla - Setting the field for a faster growing economy: Colomb...ProColombia
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This presentation outlines the fundamental things for investors to know about Botswana as an FDI destination; from setting up
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Driving growth and differential performance among Class I railroadsDeloitte United States
Building a precision-scheduled railroad generated substantial benefit for Class I railroads and their shareholders when compared to their prior performance. However, with nearly all railroads pursuing the same strategy, we see differential performance among the Class I railroads driven primarily by changes in industrial production rather than strategic choices by management and Boards of Directors. Breaking away from the narrow range of industry peer performance will likely require more deliberate choices about the scope of operations and services that offer good prospects for returns on capital. Railroad executives should shift attention from operations to the configuration of commercial functions to help realize distinct competitive advantages and improved shareholder returns.
Equity Outlook: Long-term view on equity remains positive, however the medium-term view has turned cautious due to valuations moving higher.
Fixed Income: In the current phase, a more nimble and active duration management strategy is recommended
Similar to Investment opportunities in the brazilian economy (Oportunidades de investimento na economia brasileira) - Luciano Coutinho (20)
Nova Geração do Biogás - São Paulo, 09.05.2018BNDES
No evento "Nova Geração do Biogás", realizado dia 09.05.2018 pela ABiogás - Associação Brasileira de Biogás e Biometano, Marcos Rossi e Leonardo Nunes, do BNDES, falaram sobre o potencial do biogás e sobre financiamento a plantas de biogás no novo cenário tecnológico, destacando o Programa Fundo Clima, recentemente renovado.
Apresentação realizada durante coletiva de imprensa de 30.01.2018. Traz as informações consolidadas sobre o desempenho do BNDES em 2017, com aprovações e desembolsos totais segregados por setor econômico, região, produtos.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
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This strategic move aims to redefine and elevate the banking experience for customers.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
4. 4
Brazil has solid fundamentals for sustaining economic growth Stable legal and institutional framework; Social inclusion has spurred the domestic market; Healthy banking sector not exposed to troubled assets; Robustness of the external sector; Strengthening of long-term planning; Government has conditions to foster growth:
Fiscal and monetary instruments;
Improvement of regulatory framework;
Partnership with private sector.
9. 9
International Reserves (US$ billion)
Sound macroeconomic fundamentals: Strength of the external sector
Source: Brazilian Central Bank
10. 10
Foreign Direct Investment - FDI (US$ billion)
•Fonte: UNCTAD
•Elaboração: Ministério da Fazenda
FDI at highest levels
Source: UNCTAD
11. 11
Brazil will be the fifth largest global market in 2020
Global Consumer Market
in US$ trillion
Source: based on McKinsey, prepared by Ministry of Finance
12. 12
Ongoing economic inclusion fuels a dynamic market
Population by income class strata (# of people)*
* Source: IPEA, based on PNAD/IBGE data. Prepared by Ministry of Finance
13. 13
New macroeconomic framework
Tax Cuts
(US$ 23 bn in 2012)
Exchange Rate Policy
Monetary Policy
•Lower interest rates
•Inflation under control
•Maintaining competitiveness
•Floating exchange rate with reduced volatility
•Payroll tax reduction (40 sectors)
•Reform of VAT (ICMS)
•Reduction of the Tax on Industrial Producs (IPI)
•Reform of Social Contributions (PIS/COFINS)
14. 14
Expected growth in business
Recent survey* (with more than 1,300 CEOs), indicated Brazil as the third most often mentioned country for expanding business over the next 12 months
Countries where companies expect to expand their business
(% of total answers)
* “Dealing with disruption, adapting to survive and thrive”, PricewaterhouseCoopers, 16th Annual Global CEO Survey, January 2013, p.12.
15. 15
Sources: National Agency for Civil Aviation (ANAC), National Agency for Aquatic Transportation (ANTAQ), Brazilian Association of Highway Concessionaires (ABCR) and Brasilian Associationof Automative Vehicle Manufactures (ANFAVEA).
Increasing demand for infraestructure
17. 2013-2016: BNDES Investment Survey at highest level
Source: BNDES Investment Survey
3503703904104304504704905105305502006200720082009201020112012391,1441,1439,1419,8512,3475,4535,9Investment Outlook for 4 years ahead(Comparable Sectors -US$ billion -2012) Base yearofBNDESSurvey2007-20102008-20112009-20122010-20132011-20142012-20152013-2016
18. Investments will reach at least US$ 1.9 trillion in
coming 4 years
Source: BNDES
(*) Note : The BNDES research on the investment outlook for 2013-2016 covers 66% of the total industrial investments, and 100% of investments in
infrastructure, totalizing about 58% of the investments in the economy (excluding residential construction). Agriculture and Services investments are
based on queries to Sectorial entities and/or econometric forecast.
Sectors 2008-2011 2013-2016 Δ (%) CAGR %
Industry 434,4 529,7 21,9 4,0
Infrastructure 184,1 257,1 39,7 6,9
Housing 305,6 394,9 29,2 5,2
Agriculture and Services 589,2 776,1 31,7 5,7
Total 1.513,3 1.957,8 29,4 5,3
Investment Outlook for Brazil (2013-16)
(U$ billion - Constant prices)
18
19. Investments in logistics will increase 123% in coming 4 years
Source: BNDES
(US$ Billion)
Logística
80,4
179,2
123,0
* It represents an expansion 44.5 GW of power capacity and 23,600 Km Transmission Lines
Sectors2008-20112013-2016Δ(%) Infrastructure184.1257.139.7Electricity*82.291.311.0Power Generation52.557.29.0Transmission6.913.697.1Distribution22.820.5-10.0Telecommunications43.552.220.1Sanitation17.421.724.9Highways20.535.271.8Railways14.039.4182.6Ports5.012.5150.1Airports1.74.7170.9Logistics41.291.9123.0
21. Hydro Power Plant
Alternative energy
Distribution
Transmission Lines
Railways
Highways
Ports, Terminals, and
Warehouses
Airports and Air
Transportation
US$ Million
Source: BNDES 21
BNDES Disbursements in Electricity and Logistics
1,922
2006 2007 2008
4,430
8,214
7,836
1,726
3,649
2005 2009 2010 2011 2012
9,612
12,584
Electricity
Logistics
22. BNDES Financing in Electricity and Logistics
Sector # Projects Amount Financed Total Investment
Hydroeletric Power Plants 13 24.830 39.854
Wind Power Plants 44 7.096 11.608
Distribution 45 7.670 14.650
Transmission Lines 56 6.942 12.138
Thermal Plants 18 3.624 7.094
Nuclear 1 3.073 5.244
Small Hydros 30 963 1.489
Cogeneration 8 439 575
Energy Racionalization 14 63 84
Roadways 37 8.123 15.094
Ports, Terminals and Warehouses 44 6.425 12.406
Railways 16 3.899 6.655
Airports/ Air Transportation 9 3.678 5.253
Pipeline Transportation 1 2.051 4.345
Navigation 11 1.007 1.456
Others 5 32 36
TOTAL 352 79.914 137.979
(US$ million)
Source: BNDES (projects approved or in the pipeline)
22
27. Credit Lines for electricity and PIL government guidelines
Sectors
Amortization Schedule (up to – in yrs)
Grace Period
(up to – in yrs)
BNDES Credit (% - up to)
Financial Cost
Spread (% p.y.)
Power Generation
Hydropower
20
5
70
5 % *
0.9 + Risk rate
Alternative Energy
16
5
80
Thermal (Coal &1 Oil)
14
4
50
1.8 + Risk rate
Transmission
14
3
70
1.3 + Risk rate
Railways
30
5
65 - 80
5 % *
1.0
Toll roads
25
5
65 - 80
1.5
Airports
20
3
70
0.9 + Risk rate
Ports
20
3
65
2.5
Source: BNDES * TJLP - Long Term Interest Rate
27
28. Project Finance – typical toll road model
Auction
3 Months
Contracts Signed
/Bridge Loan
Approved
LT Loan
Approved
6 Months
30 Months to 60 Months
Completion
End of Concession
... 30 years total
Equity (20-35%)
Bridge Loan
Long Term Loan (65-80%)
Infrastructure Bonds (10-15%)
Strategic & Financial Investors, Local & Foreign
Financial Investors
Local & Foreign
Timing of Events
Banks &
Source: BNDES
28
29. Infrastructure Financing Holdings and SPC’s
Holding
Government Banks/Funds may co-invest with strategic and financial investors, either directly in the SPC’s or through the holding company’s equity, taking minority equity stake
SPC 1
SPC 2
SPC N
Bond
Equity
Bond
Equity
Source: BNDES
29
Brazilian Infrastructure Bonds and infrastructure investment funds – benefits for non-resident investors:
(i)zero Income Tax rate
(ii)zero IOF (Financial Operation Tax)
30. Each 1% increase in supply of infrastructure can add up to 0.5 percentage points to Potential GDP Induces economic integration of production clusters and increases efficiency of supply chains Increases competitiveness by reducing production costs... Therefore: generates systemic productivity gains... ... and contributes to improve life standards
The relevance of efficient eletricity, logistics and other infrastructures
30
31. Concluding remarks
•Brazilian growth will be led mainly by infrastructure investments
•Infrastructure pipeline: many opportunities of low risk and attractive yields
•Government financial institutions, like BNDES, will retain a role in financing Brazilian development, but…
•Investment financing in larger scale requires new private players and investors,
•making use of project finance and capital market instruments, led by private financial institutions
31
32. 32
London – March, 2013
Investment Opportunities in the
Brazilian Economy
Luciano Coutinho
President