Overview of the Brazilian Cosmetic, Toiletry and Fragrance Industry
|
|
- Miles Little
- 8 years ago
- Views:
Transcription
1 Overview of the Brazilian Cosmetic, Toiletry and Fragrance Industry Página 1
2 Performance The Brazilian Cosmetic, Toiletry and Fragrance (CT&F) Industry recorded an average deflated compound growth rate of close to10% in the last 18 years, up from net exfactory sales of R$ 4.9 billion in 1996 to R$ 38 billion in Source: ABIHPEC Several factors have contributed to this excellent growth in the CT&F Industry, highlighting the following points: Greater affordability of CT&F products by D and E classes (lower middle and lower class, respectively) due to higher income. Newly arrived members of the C class (middle class) have started to consume higher value added products. Growing participation of Brazilian women in the job market Use of cutting-edge technology, leading to enhanced productivity and benefiting CT&F pricing, which has increased less than the price indexes of the overall economy Ongoing releases of new products to meet growing market needs Greater life expectancy, prompting the need to preserve a youthful impression Página 2
3 CT&F Growth vs. Economic Growth Brazil has recorded overall low growth rates in the last couple of years. The table below compares the performance of the Gross Domestic Product (GDP) with that of the overall manufacturing sector and with the rates for the CT&F industry, showing that the CT&F sector presented much more vigorous growth over the last couple of years than the other manufacturing sectors (average growth of 9.8% p.a. for CT&F versus 3.0% p.a. for total GDP, and 2.2% p.a. for the overall manufacturing industry). Variação Anual (%) Ano PIB Indústria Geral Setor Deflacionado ,7 3,3 17, ,3 4,7 13, ,2-1,5 10, ,8-2,2 2, ,3 6,6 8, ,3 1,6 10, ,7 2,7 10, ,1 0,1 5, ,7 8,3 15, ,2 3,1 13, ,0 2,8 15, ,1 6,0 9, ,2 3,1 5, ,3-7,4 9, ,5 10,5 10, ,7 0,4 6, ,9-2,5 8, ,3 1,2 4,9 Acum. últimos 18 anos Médio Composto últimos 18 anos 69,1 47,5 434,3 3,0 2,2 9,8 Fonte: IBGE - Banco Central ABIHPEC- Deflator: Índice IPC FIPE Higiene e Beleza Página 3
4 Comparative Price Indexes In the past 5 years, CT&F Industry prices have grown at a lower rate than both the inflation rate and the Consumer Price Index. Especially worthy of note is that the price index for Beauty products was substantially lower than the other price indexes. Variação Anual (%) FGV FIPE Ano Desvalorização Cambial Média Índice Geral Preços Índice Preço ao Consumidor Índice Preços Higiene Índice Preços Beleza ,9 7,9 4,4 2,0 1, ,0 9,1 6,2 5,9 3, ,2-1,4 3,7 2,1 2, ,4 11,3 6,4 1,5 4, ,7 5,1 5,8 5,0 1, ,2 7,8 5,1 9,4 5, ,7 5,5 3,9 1,6 4,2 Acumulado últimos 5 anos 18,9 31,2 27,4 20,9 19,3 Médio Composto últimos 5 anos 3,5 5,6 5,0 3,9 3,6 Fonte: ABIHPEC, Fundação Getúlio Vargas, Fundação Instituto de Pesquisa Econômicas da Univ ersidade de São Paulo Página 4
5 Foreign Trade Up until 1994, the country had been recording a surplus of between 10 billion and 15 billion dollars in its trade balance. In the post Real Plan period from 1995 to 1998, when the exchange rate became the main anchor for stabilizing Brazil s currency, the Brazilian trade balance recorded deficits of between 3 billion and 7 billion dollars. Starting 1999, the floating exchange rate was introduced, causing a major devaluation in the Brazilian real, at which time the deficit was reduced to 1.3 billion dollars, narrowing to 0.7 billion in the following year. In 2001, the Brazilian real was devaluated again, primarily because of the economic crisis in Argentina, triggering a surplus of US$ 2.7 billion. Another sharp depreciation of the real followed in 2002, which boosted the surplus to US$ 13.2 billion, and, in 2003, the surplus rose to US$ 24.9 billion. Despite appreciation of the real from 2004 to 2006, the surplus surged again, this time cresting at US$ 46.5 billion in In 2013, the surplus shrank to US$ 3 billion as an upshot of the continuous appreciation of the Brazilian real. BALANÇA COMERCIAL TOTAL BRASIL (US$ Bilhões) Ano Importação Exportação Saldo % Cresc. Últimos 10 anos 395,8% 230,8% % Cresc. Médio Últimos 10 anos 17,4% 12,7% Fonte: Aliceweb Importação Exportação Saldo Página 5
6 The table below shows the trade balance for CT&F products in the last ten years, indicating an average accumulated growth of 10.2% p.a. in exports between 2003 and 2013, while imports grew 21.4% p.a. in the same period. The CT&F Industry s trade deficit, which totaled US$ million in 1997, trended downward in the following years, sinking to US$ 8 million in 2001, but then bounced above the line in 2002 and onwards. In 2009, the surplus climbed to US$ 169 million, representing a 23.0% drop in relation to 2008, reflecting an appreciation in the real, which widened the deficit to US$ 412 million in BALANÇA COMERCIAL (US$'Milhões) HIGIENE PESSOAL, PERFUMARIA E COSMÉTICOS Ano Importação Exportação Saldo % Cresc. Últimos 10 anos 597,0% 165,3% % Cresc. Médio Últimos 10 anos 21,4% 10,2% Fonte: Aliceweb Importação Exportação Saldo Página 6
7 Exports Brazilian exports of CT&F products can be broken down into the following product segments: Página 7
8 Listed below are the top 10 major CT&F export destination countries from a total of 140: Descrição do País % Var. 13/12 % Partic. Total 2012 % Partic. Total Argentina ,8 25,3 24,1 2 Chile ,2 12,3 10,4 3 México ,8 7,2 9,7 4 Colombia ,3 7,0 7,5 5 Venezuela ,7 7,3 5,8 6 Peru ,0 5,7 5,6 7 Panamá ,0 3,6 5,3 8 Paraguai ,0 5,0 5,3 9 Uruguai ,6 3,3 3,4 10 Bolivia ,7 3,2 2,9 Total HPPC ,1 100,0 100,0 Total Top Ten ,0 79,9 80,0 Fonte: Aliceweb TOP TEN EXPORTAÇÕES BRASILEIRAS HPPC Acumulado janeiro a dezembro (FOB - US$'milhões) Página 8
9 Imports Listed below are the top 10 countries of origin of Brazilian CT&F imports, from a total of 59: Descrição do País % Var. 13/12 % Partic. Total 2012 % Partic. Total Argentina ,5 26,4 22,8 2 Estados Unidos ,1 13,6 14,1 3 México ,8 7,9 12,5 4 França ,6 13,1 11,2 5 China ,7 8,9 8,3 6 Alemanha ,1 5,5 5,8 7 Espanha ,0 2,9 3,0 8 Colômbia ,3 2,2 2,8 9 Índia ,4 1,3 2,4 10 Canadá ,1 2,3 2,3 Total Importações ,2 100,0 100,0 Total Top Ten ,8 84,0 85,2 Fonte: Aliceweb TOP TEN IMPORTAÇÕES BRASILEIRAS HPPC Acumulado janeiro a dezembro (FOB - US$'milhões) Página 9
10 Corporate Profile To date, there are 2,470 companies operating on the CT&F market in Brazil, in that 20 of these are large companies, with after-tax sales revenues of over R$ 100 million p.a., representing 73.0% of total revenues. These companies are distributed by region/state as follows: Página 10
11 CT&F INDUSTRIES BY STATE/REGION State Code Ind Ind Ind Ind Ind Ind Ind Ind Ind Ind Ind Bal. 14/13 Bal. 14/04 % Chg. 14/13 % Chg. 14/04 BRAZIL Total ,8 73,1 NORTH Subtotal ,2 80,8 AC ,0 100,0 AM ,7 60,0 RO ,0 233,3 PA ,0 71,4 TO ,0 20,0 AP ,0 N.A. RR N.A. N.A. CENTRAL-WEST Subtotal ,3 169,2 MS ,0 50,0 GO ,4 174,5 DF ,0 112,5 MT ,1 275,0 NOTHEAST Subtotal ,9 175,3 MA ,1 66,7 PI ,0 37,5 CE ,2 92,9 BA ,9 400,0 RN ,0 300,0 PB ,3 85,7 PE ,1 204,5 SE ,0 900,0 AL ,5 125,0 SOUTHEAST Subtotal ,1 57,1 MG ,4 123,2 ES ,9 312,5 RJ ,9 25,5 SP ,3 52,9 SOUTH Subtotal ,1 71,2 PR ,0 38,8 SC ,9 104,5 RS ,7 111,8 Página 11
12 Brazilian Market According to data from Euromonitor for 2013, the Brazilian market ranks third in the world CT&F market. Specifically, it ranks 1 st in fragrances and deodorants, 2 nd in hair care, men s and kids products, bath care, depilatories and sun care, 3 rd in color cosmetics (makeup and nail care), 4 th in oral care, and 5 th in skin care. US$ Bilhões (Preço ao consumidor) (%) Em percentual Higiene Pessoal, Perfumaria e Cosméticos Participação Variação 2013 x 2012 Mundo 446,7 454,1 1,7 EUA 72,0 73,3 16,1 1,8 China 39,9 44,2 9,7 10,8 Brasil 41,8 43,0 9,5 2,7 Japão 47,4 39,1 8,6-17,7 Alemanha 18,1 19,1 4,2 5,2 Reino Unido 16,8 16,9 3,7 1,0 França 16,1 16,8 3,7 4,2 Russia 14,2 14,2 3,1 0,1 Itália 11,9 12,2 2,7 2,3 México 10,0 10,8 2,4 8,1 TOP TEN 288,2 289,5 63,7 0,4 Fonte: Euromonitor Distribution Channels CT&F products are distributed through three basic channels: Traditional distribution, including wholesale and retail stores Direct sales, development of the at-home shopping concept Franchises, specialty and personalized stores Página 12
13 Labor Market In relation to jobs, the CT&F Industry also showed important results, as compared with the job rate growth in the country. The job opportunities created by the CT&F Industry, compared with those of 1994, are reflected in the following figures: JOB OPPORTUNITIES ('000) year Growth % 19-year Average Growth % CT&F INDUSTRY DISTRIBUTION CENTERS 35.0 N/A N/A FRANCHISES DIRECT SALES REPS BEAUTY SALONS TOTAL Source: ABIHPEC, ABEVD, ABF, FIESP and IBGE Página 13
14 Technical and Regulatory Issues This department of the Association deals with the technical, regulatory and scientific issues needed to operate the CT&F industries in Brazil. It coordinates several work groups to ensure that the CT&F industry sets down proposals and guidelines that will give support to both domestic and international governmental issues related to health surveillance and metrology. The upshot has been ethical demands put forth by companies, and other demands pertinent to reducing technical and regulatory barriers. In the past few years, a challenge has arisen, met by a commitment from the CT&F industry to keep in pace with the growing Brazilian market, and also to meet expectations to export quality products that are efficient, safe, competitive and recognized on both the domestic and the international market. The department develops activities designed to promote the growth in CT&F industries by researching and applying current subject matters related to the regulatory area, working in partnerships with associations that interface with the CT&F production chain, like SEBRAE (Brazilian Micro and Small Company Support Service), ABDI (Brazilian Industrial Development Agency), APEX-Brasil (Trade and Investment Promotion Agency), and ABNT (Brazilian Association of Technical Standards). Health legislation is periodically updated, so that it can keep current on ongoing technical and scientific advances, thus prompting the development of new technologies and/or new information related to the safe use of products. Handbooks are developed with guidelines for regulating companies and achieving the Good Manufacturing Practices, thus providing the structured technical support required to qualify companies to meet health regulations. The updating of Technical, Health and Metrological Regulations is done in line with International Regulations, in order to remove regulatory obstacles among regions, and minimize technical barriers to international trade, while ensuring a high level of consumer protection. International In view of the constant regulatory changes in the health field and the need to lend its contribution to the CT&F industry, and also in view of the foreign trade actions conducted by the Beautycare Brazil Project, handbooks are developed that provide information on health and metrological regulation, as well as other references for exporting CT&F products. In addition, events are promoted to enhance the business and technical skills needed for companies to conform their products more suitably to the project s priority markets. Página 14
15 ABIHPEC participates in the MERCOSUR Special Committee for Health Surveillance Consultancy and has a seat on the agency representing private initiative and addressing CT&F issues. The SGT 11 Health, AD HOC Cosmetics has already been able to place in conformity several technical CT&F-related criteria. In 2013, ABIHPEC started following the work on metrology being developed by MERCOSUR, and also attending the meetings of the SGT 03 Technical Regulations and Conformity Assessment, coordinated nationally by Inmetro. It is also responsible for bringing these regulations into agreement, thus keeping them from becoming technical barriers to trade among the member states (Argentina, Brazil, Paraguay, Uruguay and Venezuela) and between these states and other countries or economic blocks. CASIC In Latin America, ABIHPEC acting through its Technical and Regulatory Department is a member of the Technical Committee of the Latin American Cosmetic Industry Association Board, assembled to hold annual meetings of the Latin American health authorities. ICCR Since 2013, ABIHPEC was elected, together with ANVISA, to represent Brazil at the ICCR - International Cooperation on Cosmetics Regulation, an international group cooperating to regulate cosmetic products. It meets every year and has the objectives of removing regulatory obstacles among regions and minimizing technical barriers to international trade, while ensuring a high level of consumer protection. The group is composed of government and private initiative representatives from Canada, European Union, the United States and Japan. PCPC Every year, ABIPEC participates in an event held in the United States, organized by the PCPC Personal Care Products Council and made up of the most important international counterpart associations, as well as the chief industries operating in this market. In the last couple of years, this meeting has become the most important gathering of international organizations, where strategic matters are discussed at all levels, in all aspects and in respect to all areas, geared at developing these markets. Cosmetics Europe With this same aim, ABIHPEC also participates regularly in the European community, by attending the meeting of Cosmetics Europe, the European counterpart association for makers of cosmetic products. ISO/TC 217 By way of ABNT s Brazilian Cosmetics Committee (CB-57), ABIHPEC participates in the world forum through the ISO/TC 217 Committee organized by ISO International Organization for Standardization, a worldwide group for the global standardization of products from the Cosmetic, Toiletry and Fragrance Industry. Página 15
16 Responsibility for Post-Consumption Packages RESPONSIBILITY FOR POST-CONSUMPTION PACKAGES On August 2, 2010, President Lula sanctioned Law #12305, which introduced the National Solid Waste Policy in Brazil, after about 20 years of Congressional debate. Approval of the law found ABIHPEC already conducting one of its social programs, called Dê a Mão para o Futuro (Give the Future a Helping Hand), in full compliance with what this concept proposes. This is an example of the pioneering spirit and high degree of socioenvironmental commitment made by ABIHPEC s associated companies that participate in the program, and by its other associative partners: ABIPLA and ABIMA. SHARED RESPONSIBILITY The core principle behind Dê a Mão para o Futuro is shared responsibility. This entails the engagement by the entire society to resolve the issue of the suitable end use of postconsumption packages. Bearing this in mind, the actions conducted by the program aim at assuring: o o That the population acquires the habit of correctly separating recyclables from ordinary garbage. For this reason, the work of guiding the population to make it aware of the importance of conscious consumption, and the cooperation needed to enable waste sorting, are essential to the success of the program. Only in this manner can the volume of collected recyclable waste be increased. This result can be obtained by promoting public awareness campaigns in the participating cities. That the sorting of urban solid waste (the responsibility of public authorities) is carried out comprehensively and consistently, because only after the packages are collected and sorted can industry give them the most suitable environment end use. Awareness that solid waste reusability and recyclability constitutes an economic asset and one of social value, by enabling jobs and income to be created, and by promoting citizenship, is yet another principle that has steered this program since its very beginning. Brazil s socioeconomic conditions led to the creation of a unique model for collecting recyclable material. This model is based on waste pickers, who, through the years, got Página 16
17 together and formed associations and cooperatives. Although the model is considered a success, these workers still operate in a very informal manner. Considering that this area offers sizable opportunities for social inclusion, job creation and income generation, it has become necessary to improve the physical and management structures of these associations and cooperatives to ensure greater production capacity. This is the fundament guiding the program. There can no distinction between the post-consumption recyclable waste materials collected. They may belong to the Cosmetic, Toiletry and Fragrance industry, just as they may also belong to related industries. If the proposal is to work with waste picker associations and cooperatives, it is not possible to sort the waste according to segment; rather, it must be done according to the equivalent weight of the recyclable material. With this in mind, companies are taking on the responsibility of determining the most suitable end use of equivalent post-consumption packages in volume/weight terms, and are complying with the legislation. The program has the following goals: Contribute to improving the nation s scenario for correct end use of urban solid waste, by helping to reduce the volume of recyclable materials that end up in landfills. Increase the recycling feasibility of post-consumption packages, by expanding and improving their collection, sorting, processing, importance and marketing. Develop actions designed to support programs intent on creating jobs and generating income, and that promote the social inclusion, the improvement of work conditions and the quality of life of waste pickers, by developing integrated and sustainable programs. Offer creators of solid waste (society as a whole) a suitable option for managing their waste. Offer recyclers and/or manufacturers raw materials that are duly sorted and processed. The partners in the program are ABIPLA (Brazilian Association of Cleaning Product Industries and the Like) and ABIMA (Brazilian Association of Manufactured Pasta, Bread and Cakes). The Dê a Mão para o Futuro Program is being carried out with great success in several parts of Brazil, benefitting thousands of people! What s the upshot of this? More quality of life for all! Página 17
18 s OVERVIEW OF THE CT&F INDUSTRY CT&F Development Program The PDS-HPPC Cosmetic, Toiletry and Fragrance (CT&F) Industry Development Program is conducted by ABIHPEC, in partnership with the ABDI Brazilian Industrial Development Agency and with the SEBRAE Brazilian Micro and Small Company Support Service. The objective is to promote the development of CT&F companies sustainably by providing management and dissemination of know-how, by giving access to and ensuring alignment with the market, and by promoting developments in technology and innovation, in addition to strengthening CT&F micro, small and mid-size companies in the different states throughout the nation. Ever since 2006, the PDS-HPPC has been promoting actions statewide, providing training and lending its services to micro and small companies, driven by its endeavor to strengthen the production chain, and to foster the modernization and development of local production schemes and regional production structures. Specific tools are made available to drive the strategic actions of the agreement that have given CT&F companies access to expertise, technological innovations, CT&F trends, tax information, management skills, sustainable action and methodology to operate in compliance with ANVISA (Brazilian Health Surveillance Agency) regulations and to participate in the international market. The project is conducted in several regions of Brazil, where local partnerships have been forged to carry out the actions. These regions have been given the name of Regional Centers and are located in the following states: Santa Catarina, Rio Grande do Sul, Paraná, Rio de Janeiro, São Paulo (Diadema), São Paulo (Franca and region), Minas Gerais, Ceará, Bahia, Pernambuco, Pará and Goiás. By providing actions geared to development, the project focuses on lending ongoing assistance for companies to broaden their horizons, and not only take advantage of, but also maximize their potential. Página 18
19 Internationalization Program The Beautycare Brazil CT&F Project was created in 2000 and is managed by ABIHPEC (Brazilian Association of the Cosmetic, Toiletry and Fragrance Industry) in partnership with APEX-Brasil (Trade and Investment Promotion Agency). It has the support of the ABDI (Brazilian Industrial Development Agency), of SEBRAE Brazilian Micro and Small Company Support Service and of ITEHPEC (Institute of Cosmetic, Toiletry and Fragrance Technology and Studies). Its mission is to promote the competitiveness of the Cosmetic, Toiletry and Fragrance (CT&F) Industry by achieving internationalization. Among its objectives is the consolidation of Brazil as world leader in the consumption of CT&F products, thereby boosting the industry s national and international prestige through the recognition of its excellence in such requisites as production and global consumption, as regards production efficiency, innovation, high technological level and sustainability. Priority Market Strategy Beautycare Brazil has the primary goal of keeping up the level of exports of the companies supported by the project, and ensuring that these exports are higher than the CT&F international trade growth, even in a scenario of global crisis and fluctuations in the exchange rate. For this reason, stricter criteria were adopted to select target markets and strategic actions, highlighting especially the following: Opening the Market: The focus is on promoting business contacts by holding Road Shows, Trade Shows and the Buyer Project. Consolidating the Market: The focus is on expanding the distribution channels for the company s already existing sales operations. Actions will be developed involving pointsof-sale, brand activation, the Buyer Project aiming at training commercial partners, project image, and trade shows focused on promoting contacts with opinion setters. Página 19
20 Innovation and Technology ITEHPEC Institute of Cosmetic, Toiletry and Fragrance Technology and Studies was created in 2006 as ABIHPEC s innovation arm. Its main goal is to encourage, foster and promote activities related to technological innovation, research and technological development for CT&F products in any region, both domestically and internationally. ITEHPEC s Mission: Be a facilitator for technological development a tool for the enhancement of professional skills in companies and perform the fundamental role of pursuing competitiveness in the CT&F industry, creating information to steer technological policies and to manage CT&F change and innovation processes. Create business opportunities for innovation and technical training in CT&F companies. Establish and consolidate the interaction of universities and research centers with companies. Encourage the use of subsidies and tax benefit mechanisms to further innovation in companies. Encourage scientific and technological institutes to participate in the CT&F technological innovation process. ITEHPEC has a Scientific-Technological Board composed of specialists from industry, universities and learning institutions, who are experienced in research and technological innovation. The role of the board is to assist ITEHPEC management in establishing guidelines for CT&F innovation and technological development and in setting up a CT&F Innovation and Technological Development Program. Página 20
21 Among the initiatives made by ITEHPEC, the following should be highlighted: Innovation and Technology Intelligence Center production of innovation and technology expertise for the CT&F Industry Cosmetic Industry Innovation Management Inclusion Program strategic consulting in innovation for associated companies Production of Reference Documents reports on several technical and scientific topics Nanometrology Project a partnership with Inmetro (National Metrology, Quality and Technology Institute) is designed to develop benchmark nanomaterials for the cosmetic industry. Nanoencapsulation of Active Ingredients Project working in cooperation with the IPT (Institute of Technical Standards), the project fosters cooperation among CT&F companies to develop technological pathways for the nanoencapsulation of active ingredients for use in cosmetics formulas. Support for innovation project development associated companies can benefit from the support needed to deal effectively with issues related to the development of innovation projects. Professional qualification & training program international conferences, workshops, scientific conventions, courses, lectures and seminars Technical and Scientific Meetings with Associates meetings to put forth and address topics of relevance for discussion with Institute associates Página 21
22 Social Responsibility The ABIHPEC INSTITUTE is a non-profit civil association that emerged as an initiative of the Brazilian Association of the Cosmetic, Toiletry and Fragrance Industry (ABIHPEC), which decided to channel the social projects that it sponsored through an independent association designed specifically to fulfill a social purpose. The ABIHPEC INSTITUTE aims at promoting cancer-related actions by providing information and giving palliative care, by offering social assistance to cancer victims and/or people stricken by serious diseases, whose looks have been impacted, affording them the technical and material means needed for rehabilitation and raising their selfesteem, by protecting the integrity, individuality and dignity of children, adolescents and the elderly, by promoting the prevention and awareness of health and personal hygiene, and by fostering economic and social development by encouraging enterprise and employability. Today, the ABIHPEC Institute coordinates two projects directed at fulfilling its objectives. These are De Bem com Você a Beleza contra o Câncer (Feel Good about Yourself Beauty against Cancer) and the Pedofilia: não feche os olhos para isso (Pedophilia: Don t Close Your Eyes to It). Find out more about these projects: Página 22
23 De Bem com Você a Beleza contra o Câncer (Feel Good about Yourself Beauty against Cancer) Workshops teach women undergoing cancer treatment how to apply makeup, as a way to help them improve their self-esteem. The mission of the project is to promote self-esteem and enhance beauty and well-being, through workshops that teach women undergoing cancer treatment how to apply makeup. The project is a social program that teaches women with cancer and undergoing the several phases of cancer treatment makeup techniques for self-application and beauty tips. The aim is to help minimize the secondary effects related to the adverse reactions to chemotherapy, radiation and other treatments, as a way to improving their self-esteem. The project is sponsored by associated companies that are not only responsible for making the project feasible, but also donate products that are used in the workshops. The workshops are held in the facilities of hospitals that mostly serve patients from the public health service. Learn more: facebook/debemcomvoce Pedofilia: não feche os olhos para isso (Pedophilia: Don t Close Your Eyes to It) One of the objectives of this project conducted by the ABIHPEC Institute is to open the eyes of people to see what they don t want to see. It brings out into the open important information about pedophilia, so that the matter can be discussed and the society alerted to what may be happening right next to you. It is a project that uses a digital tool to alert the population through the social media channels of Facebook and Twitter. Keep your eyes open! Dial 100 to report a crime or suspected crime from anywhere in the country. Learn more: facebook/contrapedofilia Página 23
Brazil February Production Update and Weekly Crop Condition Report
February 27, 2014 Informa Economics South American Crop Reporting Service Brazil February Production Update and Weekly Crop Condition Report The Informa Economics staff in Brazil conducted its survey between
More information2 nd Annual LatAm International Mining Conference 13 14 March 2013, Rio de Janeiro, Brazil
2 nd Annual LatAm International Mining Conference 13 14 March 2013, Rio de Janeiro, Brazil The Significance of the Mining Industry for Brazil 13 March, 2013 PRESENTATION IBRAM Brazilian Mining Association
More informationSuccessful Strategy Business Portfolio Ensures Results. Mr. Fernando Henrique Schüffner Neto Chief Officer for Business Development
Successful Strategy Business Portfolio Ensures Results Mr. Fernando Henrique Schüffner Neto Chief Officer for Business Development 1 Disclaimer Some statements and estimates in this material may represent
More information2Q07 Results Conference Call. August 16, 2007 I SÃO PAULO
2Q07 Results Conference Call August 16, 2007 I SÃO PAULO Speakers Cesar Augusto R. Parizotto CEO Marco Antonio R. Parizotto Commercial Vice President Antonio Henrique Neves Commercial Vice-President Ricardo
More information3Q07 Results Conference Call. November 14 th 2007 I SÃO PAULO
3Q07 Results Conference Call November 14 th 2007 I SÃO PAULO Speakers Cesar Augusto R. Parizotto CEO Marco Antonio R. Parizotto Commercial Vice President Ricardo Perpetuo CFO and IRO José Alexandre Hamer
More informationAgri Commodities ABN AMRO Bank NV
Agri Commodities ABN AMRO Bank NV Fausto Caron Head of Commodities Brazil Chicago, June 2013 1 Agenda Brazilian Agriculture A Historical Perspective Infra-Structure: The Brazilian quest for competitiveness
More informationBelo Horizonte and Rio de Janeiro, October 15th 2015
Belo Horizonte and Rio de Janeiro, October 15th 2015 Minas Gerais: a large and important state 226,000 square miles (Larger than France or Spain) 20 million people (Comparable to Australia) 2 nd largest
More information3 rd Brazil - China Capital Markets Forum
3 rd Brazil - China Capital Markets Forum Ilan Goldfajn Chief Economist, Itaú Unibanco Partner, Itaú BBA August 30 th, 2012 In Brief World: consolidating a scenario of low growth. Slow recovery in the
More informationHow to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell
Case Study - 2012 How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Is it possible to increase client relationship efficiency and revenue by collect, analyze
More informationCredit Suisse II Brazil Construction & Mortgage Field Trip. August 30th, 2007 SÃO PAULO
Credit Suisse II Brazil Construction & Mortgage Field Trip August 30th, 2007 SÃO PAULO Speakers Cesar Parizotto CEO Marco Parizotto Commercial Vice-president Ricardo Perpetuo CFO and IRO 2 Agenda Chapter
More informationAn Overview of the Global Hair and Skin Care Market
An Overview of the Global Hair and Skin Care Market A Presentation to: The Society of Cosmetics Chemists: MidWest Chapter Chicago, IL April 12, 2011 www.klinegroup.com 2011 Kline & Company Contents Overview
More informationEmergency Agenda for the Brazilian airline industry
Emergency Agenda for the Brazilian airline industry ABEAR s proposals to stimulate air transportation, economy, connectivity and regional development in Brazil www.abear.com.br Proposals 1. Establishing
More informationChallenges and opportunities in the Digital World: Brazil perspective
Challenges and opportunities in the Digital World: Brazil perspective Virgilio A. F. Almeida National Secretary for Information Technology Policies Ministry of Science, Technology and Innovation São Paulo,
More informationBRAZIL MEANS BUSINESS. In spite of the world financial crisis, Brazil remains an appealing business destination.
BRAZIL MEANS BUSINESS In spite of the world financial crisis, Brazil remains an appealing business destination. GDP compared Latin America (in trillions of US$) REGIONAL DISPARITIES % of total GDP (2008)
More informationHow To Understand The Relationship Between Free Trade And Meat Production In Mexico
FREE TRADE AND MEXICO S MEAT SECTOR September 27, 2012 Contents I. Trade Agreements signed by Mexico II. Benefits of Foreign Trade III. External Challenges of Foreign Trade IV. Foreign Trade and the Mexican
More informationCOMPANY OVERVIEW. Feb 2012. Fast Company Brazil 2009-2012 All rights reserved
COMPANY OVERVIEW Feb 2012 Fast Company Brazil 2009-2012 All rights reserved Summary What we do? Performance Areas Our services Differentiated approach Compensation Models Why Brazil? Brazil in Brief Information
More informationWTM Origin Market Seminar 2013. Brazil
WTM Origin Market Seminar 2013 Brazil Brazil s Population Population 198.7 million (5 th in the world) Annual growth rate: 1.1% Relatively young population Diverse Ethnicity strong cultural links between
More informationTHE BRAZILIAN EXPERIENCE IN THE DEVELOPMENT OF HUMAN RESOURCES IN METROLOGY
XX IMEKO World Congress Metrology for Green Growth September 9-14, 2012, Busan, Republic of Korea THE BRAZILIAN EXPERIENCE IN THE DEVELOPMENT OF HUMAN RESOURCES IN METROLOGY G. M. Rocha 1, R. P. Landim
More informationAgricultural Reinsurance in Latin America Actual Situation & Outlook. 4 th Reinsurance Congress Rio de Janeiro (Brazil) April 2015
Agricultural Reinsurance in Latin America Actual Situation & Outlook 4 th Reinsurance Congress Rio de Janeiro (Brazil) April 2015 AGENDA Commodity Price & Food Consumption Context Worldwide Agriculture
More informationDeutsch Brasilianische Wirtschaftstage - 2009. 01. September 2009
Deutsch Brasilianische Wirtschaftstage - 2009 01. September 2009 Apex-Brasil The Brazilian Trade and Investment Promotion Agency was officially established in 2003 in partnership with national industry
More informationThe Healthcare market in Brazil
www.pwc.com.br The Healthcare market in Brazil Brazilian Healthcare market: one of the most promising and attractive in the world Context Fifth largest country in area and population, with 8.51 million
More informationTechnological Innovation in Brazil - Data Report
Technological Innovation in Brazil - Data Report Maria Cecília Junqueira Lustosa Universidade Federal de Alagoas, Brazil cecilialustosa@hotmail.com This data report is part of the project The PBR-5 Network
More informationCosmetics market research summary
522 SW 5 th Ave., Suite 708 Portland, OR 97205 USA Toll Free: 877-WITH-ACG Direct Line: 503-922-2966 info@aginskyconsulting.com www.aginskyconsulting.com Cosmetics market research summary October 2007
More informationThe Nail Factory is expanded with construction of a new plant in Passo Fundo (state of Rio Grande do Sul, Brazil), active until 1964.
30 GERDAU ANNUAL REPORT 2012 TIMELINE TIMELINE Learn about the key facts that marked Gerdau s history João Gerdau businesses branch into two separate areas: Hugo runs the nail factory and his brother Walter
More informationBrazil. Challenges in the Market
Brazil Type of Market: Large/Emerging Brazil has strong Health IT market potential for U.S. companies during this report s three-year time horizon, as sector development is currently at an early stage,
More informationAPEC Information Privacy Principles in the Development of Outsourcing Business: Contact Center in Peru
2008/SOM1/ECSG/SEM/018 APEC Information Privacy Principles in the Development of Outsourcing Business: Contact Center in Peru Submitted by: Peru Technical Assistance Seminar on International Implementation
More informationConference Call Santander Acquiring / Conta Integrada. São Paulo, 18 th March of 2010
Conference Call Santander Acquiring / Conta Integrada São Paulo, 18 th March of 2010 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Positive Macroeconomic Scenario
More informationCompany specialized in the Business tools and Innovation of the Luxury and Premium Present in Brazil and Latin America
Company specialized in the Business tools and Innovation of the Luxury and Premium Present in Brazil and Latin America MCF Consultoria & Conhecimento provides services focused on strategies development
More informationA Basic Primer for a Complex Country Ramon Frias Charles Maniace
More content. More experts. More answers. Indirect Taxation in Brazil A Basic Primer for a Complex Country Ramon Frias Charles Maniace Senior Tax Research Counsel Director - Tax Housekeeping This is one
More informationSão Paulo SP November, 20th, 2008. * Rubens C. D. Garlipp Sociedade Brasileira de Silvicultura - SBS
THE IMPORTANCE OF PLANTED FORESTS IN BRAZIL São Paulo SP November, 20th, 2008 * Rubens C. D. Garlipp Sociedade Brasileira de Silvicultura - SBS THE BRAZILIAN FORESTS- 2007 NATURAL PLANTED FLORESTA AMAZÔNICA
More informationCemig acting vertical
Alexandre Heringer Lisboa November/2015 Cemig acting vertical Generation capacity: 7.038MW 7% do mercado Predominantly hydropower Growth in renewable energy Natural gas as an alternative Unregulated market
More informationBBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th
BBVA Compass Giampaolo Consigliere, Head International Commercial Banking Washington, DC - March, 19 th 1 Banco Bilbao Vizcaya Starting from Strong Foundation Argentaria Banco Hipotecario, 1872 Banco de
More informationSECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
6-K 1 gol20051223_6k.htm GOL BEGINS TICKETS SALES TO CORDOBA AND ROSARIO SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF
More informationBreast cancer control in Brazil. Gulnar Azevedo e Silva
Breast cancer control in Brazil Gulnar Azevedo e Silva London, May 2014 The burden of breast cancer in Brazil Incidence Age-standardized incidence of breast cancer in Brazil, selected cities Ministério
More informationPresentation at the 14 th Annual Latin America Conference
Presentation at the 14 th Annual Latin America Conference MARCH, 2006 www.telemar.com.br/ir Telemar at a Glance December / 05 A leading telecommunication services provider in Brazil, offering a full range
More informationHow To Help The People Of Brazilian Powerplant
ABIMAQ Brazilian Machinery Builder s Association The Brazilian Machinery Builder s Association Founded in 1975, ABIMAQ Brazilian Machinery Manufacturers Builders Association is one of the most important
More informationLatin America s s Foreign Debt
Latin America s s Foreign Debt Causes and Effects Internal Causes of the Debt Overvalued currency associated with ISI Returns on projects in future, but payments now: Debt trap Populist economic policies:
More informationSantander Asset Management Focus on LATAM. Sao Paulo, May 2011
Santander Asset Management Focus on LATAM Sao Paulo, May 2011 2 Santander Asset Management advise that this presentation contains representations regarding forecasts and estimates. Said forecasts and estimates
More informationTABLE 2 CONSANGUINEOUS MARRIAGE IN THE AMERICAS
TABLE 2 CONSANGUINEOUS MARRIAGE IN THE AMERICAS Region/country Location Collection Study Sample Consanguinity Consanguinity Coefficient of Reference period population size (%) types inbreeding (α) Caribbean
More informationPROFILE. www.fibria.com.br/r2014/profile/
PROFILE 28 www.fibria.com.br/r2014/profile/ Brazilian company and world leader in eucalyptus pulp production, Fibria focuses its operation on forest plantations in the states of Bahia, Espírito Santo,
More informationPresentation to SHAREHOLDERS AND INVESTORS. Energy and Growth, a win-win Combination November 2013
Presentation to SHAREHOLDERS AND INVESTORS Energy and Growth, a win-win Combination November 2013 Disclaimer This presentation may contain forward-looking statements, Such statements are not statements
More informationRNP Experiences and Expectations in Future Internet R&D
RNP Experiences and Expectations in Future Internet R&D CPqD, Campinas 23 September 2009 Michael Stanton michael@rnp.br Director of Innovation Rede Nacional de Ensino e Pesquisa - RNP 2009 RNP Introduction
More informationManaus Free Trade Zone. Meeting with Taipei Delegation Brasília, October 25 th, 2013
Manaus Free Trade Zone Meeting with Taipei Delegation Brasília, October 25 th, 2013 MANAUS FREE TRADE ZONE (ZFM) MANAGEMENT MODEL PRESIDENCY OF THE REPUBLIC Ministry of Development, Industry and Foreign
More informationBrasil (e-mail :.geocompany@geocompnay.com.br) Tecnologia, Engenharia & Meio Ambiente Tel (011) 3083-5561 / 5563 Fax (011) 3082-6517
1 The Environmental Sector in Brazil Roberto Kochen, Ph. D. ( Director, Geocompany Technology, Engineering & Environment ) ( Professor, Environmental Geotechnics, University of São Paulo ) 2 Tecnologia,
More informationThe Importance of Graduate Programs in Brazil
Brazilian Financial Journal support of of Medical graduate and programs Biological in Brazil Research (2006) 39: 839-849 ISSN 0100-879X Concepts and Comments 839 Financial support of graduate programs
More informationDecember/2003. Corporate Presentation
December/2003 Corporate Presentation General Overview 1 HIGHLIGHTS Integrated Telecom Service Provider 15.1 million wirelines in service (Dec/03) Over 4.0 million wireless subscribers (Jan/04) Region I
More informationBank of America Merrill Lynch Banking & Financial Services Conference
Bank of America Merrill Lynch Banking & Financial Services Conference Manuel Medina Mora Chairman of the Global Consumer Banking Council November 17, 2010 Consumer Banking in Citicorp Agenda Our Business
More informationFLRY3. June, 2011. IBGC s 2010 Corporate Governance award in the category for listed companies. IBGC - Brazilian Institute of Corporate Governance
FLRY3 IBGC s 2010 Corporate Governance award in the category for listed companies IBGC - Brazilian Institute of Corporate Governance June, 2011 TODOS OS DIREITOS RESERVADOS 2010 Our business A Medical
More informationMOBILE ADS. HUNT Mobile Ads Traffic Q2-2011
HUNT Mobile Ads Traffic Q2-2011 Report #2-2011 Intro Continuing with the quarterly reports from HUNT Mobile Ads, the leading mobile advertising network in Latin America and the Spanish speaking markets,
More informationThinking globally and acting locally: HP community investment and involvement in Latin America
Thinking globally and acting locally: HP community investment and involvement in Latin America For HP, global citizenship is a long-standing corporate objective. We take responsibility for making a positive
More informationMin. Guido Mantega. November 2009
New Cycle of Brazilian Economic Growth Financial i Times Min. Guido Mantega November 2009 Reasons to begin a new growth cycle Brazil faced the crisis with a strong economy; Emerged from it stronger than
More informationPOSITIVO GRUPO POSITIVO
POSITIVO 6 GRUPO POSITIVO PROFILE With a presence in more than 40 countries, Positivo s origin and main focus of activity is education. In Brazil, around nine thousand employees work on the development
More informationBTMU Focus Latin America Mexico: Export performance in 2014
BTMU Focus Latin America Mexico: Export performance in 2014 MUFG UNION BANK Economic Research (New York) Hongrui Zhang Latin America Economist hozhang@us.mufg.jp +1(212)782-5708 June 15, 2015 Contents
More informationTrabalho apresentado durante o IX IPS International Productivity Symposium, Curitiba/PR, maio de 2000.
MEASUREMENTS OF QUALITY AND SYSTEMIC PRODUCTIVITY IN THE BRAZILIAN SOFTWARE INDUSTRY Kival Chaves Weber, Célia Joseli do Nascimento, Diva da Silva Marinho, Gislene Regina Durski, and Hélio Gilberto Amaral.
More information33/81/ 139 240/196/ 128/128/ 128 70/133/ 210 245/218/ 101 1st Quarter 157/190/ 2013 231 249/231/ 157 218/231/ 246
1 st Quarter 2013 1 Disclaimer This presentation may include references and statements, planned synergies, estimates, projections of results, and future strategy for Banco do Brasil, it s Associated and
More informationThe Cosmetics and Perfumery Association of Hong Kong Ltd. Position Paper. By Homer YU - Honorary Life President. Jacky Choi President
CB(1)1775/01-02(05) (Revised) The Cosmetics and Perfumery Association of Hong Kong Ltd. Position Paper By Homer YU - Honorary Life President Jacky Choi President Executive Committee Members Definition
More informationThe National Parks of Brazil.
The National Parks of Brazil. by Ariane Janér Instituto EcoBrasil Agulhas Negras Itatiaia National Park Bengt Janér Of Brazil s more than 300 conservation units, 64 are National Parks. The national parks
More informationWilliam Blair Growth Stock Conference June 12, 2013 Scott Settersten, Chief Financial Officer
William Blair Growth Stock Conference June 12, 2013 Scott Settersten, Chief Financial Officer Presentation Name, Month XX, 2012 Safe Harbor Statement This presentation contains forward-looking statements
More informationTópico: Epidemiologia no planejamento e gestão de serviços de saúde CO-AUTHOR ASSESSMENT AS AN INDICATOR OF NATIONAL AND INTERNATIONAL COOPERATION & Moisés Goldbaum Sonia Mansoldo Dainesi, MD, MBA PhD
More informationBRAZILIAN ECONOMY AND FOREING TRADE IN GLOBAL CONTEXT
São Paulo Rio de Janeiro Brasília Curitiba Recife Belo Horizonte Campo Grande London Lisbon Shanghai Beijing Miami Buenos Aires Johannesburg BRAZILIAN ECONOMY AND FOREING TRADE IN GLOBAL CONTEXT PROF.
More informationThe Impacts of Trade Facilitation on the Economy of Brazil and its Manufacturing Sector
The Impacts of Trade Facilitation on the Economy of Brazil and its Manufacturing Sector Lucas Ferraz Professor of São Paulo School of Economics at Getulio Vargas Foundation Head of Economic Modeling at
More informationColombia in the world
Colombia in the world Proexport around the world Process of attracting Foreign Direct Investment Proexport offers detailed and professional assistance for investors that find interesting business opportunities
More informationBrazilian perspec-ve on the future of learning and teaching.
Brazilian perspec-ve on the future of learning and teaching. Prof. Maria Paula Dallari Bucci University of São Paulo- Brasil, Faculty of Law Former Chairperson of Brazilian Higher EducaFon Secretary, Ministry
More informationInvestor Day LA&C Region Lausanne, June 21, 2012. James R. Mortensen President, Latin America & Canada Region Philip Morris International
Investor Day LA&C Region Lausanne, June 21, 2012 James R. Mortensen President, Latin America & Canada Region Philip Morris International What Latin America & Canada Offers Favorable environment for uptrading
More informationVotorantim Industrial Sustainability Report. External Audience
Votorantim Industrial Sustainability Report External Audience Message from the Senior Management In Votorantim Group s 93 years of history, we have maintained stability and consistency in creating value,
More informationWhat is the Issuer Driven ETF project?
What is the Issuer Driven ETF project? Background on Traditional Bond An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks (source: Investopedia) Bond hold securities
More informationAGENDA: Highlights Operational Performance Stock Market Business Strategy and Outlook
0 Disclaimer This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to Cia. Hering's growth prospects.
More informationCooling Air Conditioning Business in Brazil
Hitachi Review Vol. 58 (29), No. 6 287 Cooling Air Conditioning Business in Brazil Shigekichi Kouchiyama Yoshikazu Amou Machio Amano OVERVIEW: Air conditioning in Brazil is primarily used for cooling and
More informationDEA implementation and clustering analysis using the K-Means algorithm
Data Mining VI 321 DEA implementation and clustering analysis using the K-Means algorithm C. A. A. Lemos, M. P. E. Lins & N. F. F. Ebecken COPPE/Universidade Federal do Rio de Janeiro, Brazil Abstract
More informationTHE DEVELOPING INSURANCE MARKET IN BRAZIL
THE DEVELOPING INSURANCE MARKET IN BRAZIL Risk Management and Transfer for South American Risks Commercial Risk Europe in association with IGREA and APOGERIS Bruno Laval Regional Manager Iberia & Latin
More informationNonprofit Mergers and Collaborations. This is an abstract. Click here to access the full study, available in portuguese.
Nonprofit Mergers and Collaborations This is an abstract. Click here to access the full study, available in portuguese. Sponsored by Nonprofit Collaborations and Mergers In Brazil there are close to 300,000
More informationJBS reports R$3.6 billion in EBITDA and net revenue of R$38.9 billion in 2Q15
JBS S.A. (BVM&FBOVESPA: JBSS3; OTCQX: JBSAY) São Paulo, August 13 th, 2015 JBS reports R$3.6 billion in EBITDA and net revenue of R$38.9 billion in JBS S.A. announces results for its second quarter 2015
More informationChilean ICT Sector. Introduction. Chile-Taiwan. Raúl Ciudad President ACTi A.G.
Chile-Taiwan Chilean ICT Sector Raúl Ciudad President ACTi A.G. Introduction ACTI, the entrepreneurial community in action Chilean Association of Information Technology Companies (ACTI AG) Founded in 1984
More informationEstonia and the European Debt Crisis Juhan Parts
Estonia and the European Debt Crisis Juhan Parts Estonia has had a quick recovery from the recent recession and its economy is in better shape than before the crisis. It is now much leaner and significantly
More informationLITIGATION AND ARBITRATION IN BRAZIL: AN OVERVIEW
Presentation made at the China Economic and Trade Arbitration Commission - CIETAC Prof. Dr. Durval de Noronha Goyos Jr. President - Noronha Advogados Beijing November 1, 2012. Sao Paulo Rio de Janeiro
More informationThe Nail Factory is expanded with the construction of a new plant in Passo Fundo (state of Rio Grande do Sul, Brazil), active until 1964.
34 TIMELINE Learn about the important events that mark Gerdau s history The business started by João Gerdau is divided into two independent companies: Hugo runs the nail factory and his brother Walter
More informationStatistics and Business Intelligence in the Foreign Trade of Services: The Brazilian Experience SESSION # 1
Statistics and Business Intelligence in the Foreign Trade of Services: The Brazilian Experience SESSION # 1 Luiz Maurício NAVARRO Analista de Comércio Exterior, Secretariat of Commerce and Services Ministry
More informationPROFILES AND LECTURES
PROFILES AND LECTURES PROFILES AND LECTURES PROFILES AND LECTURES 7 ANTONIO PALOCCI FILHO, FINANCE MINISTER Finance Minister of Brazil since January 1, 2003. Mayor of the municipality of Ribeirão Preto,
More informationWHAT WILL WE MAKE OF THIS MOMENT? HENKEL SHOWER PROJECT: MARKETING CAMPAIGN FOCUSED ON SUSTAINABILITY
WHAT WILL WE MAKE OF THIS MOMENT? HENKEL SHOWER PROJECT: MARKETING CAMPAIGN FOCUSED ON SUSTAINABILITY Exploring Sustainability as a Strategic Opportunity (08.05.2015) Anastasia Lavrentyeva, Davide Bramati,
More informationElog, Columbia and EADI Sul join forces to create a new company
March 15, 2011 Elog, Columbia and EADI Sul join forces to create a new company Experience is added up and results, for customers, are multiplied The synergy from infrastructures and services generates
More informationFinance Ministers Speech NDTV Profit Business Leadership awards 2011
Finance Ministers Speech NDTV Profit Business Leadership awards 2011 Ladies and Gentlemen, I am very happy to be here today among this distinguished gathering of industrialists and business persons on
More informationLabs D Or Acquisition
FLRY3 IBGC 2010 Corporate Governance Award Listed Companies IBGC - Brazilian Institute of Corporate Governance Labs D Or Acquisition TODOS OS DIREITOS RESERVADOS 2011 2 Disclaimer This document contains
More informationThe Domain Name Industry Brief Volume 5 Issue 5 September 2008
The Domain Name Industry Brief Volume 5 Issue 5 September 2008 Regional Report: Latin America As the global registry operator for.com and.net, VeriSign reviews the state of the domain name industry through
More informationPARTNERS FOR EXCELLENCE PAEX
Campus Aloysio Faria Av. Princesa Diana, 760 Alphaville Lagoa dos Ingleses 34000-000 Nova Lima MG Brasil Unidade BH Rua Bernardo Guimarães, 3.071 Santo Agostinho 30140-083 Belo Horizonte MG Brasil Unidade
More informationGlobal payments trends: Challenges amid rebounding revenues
34 McKinsey on Payments September 2013 Global payments trends: Challenges amid rebounding revenues Global payments revenue rebounded to $1.34 trillion in 2011, a steep increase from 2009 s $1.1 trillion.
More informationSecond Quarter Results
Hemisphere São Paulo, SP, Brazil Launched in June 2008 Second Quarter Results August 15, 2008 1 Praça das Águas São Paulo, SP, Brazil Launched in May 2008 Second Quarter 2008 Highlights for the Year Elie
More informationAvoiding Crime in Latin America and the Caribbean 1
Avoiding Crime in Latin America and the Caribbean 1 WORLD BANK GROUP LATIN AMERICA AND THE CARIBBEAN SERIES NOTE NO. 7 REV. 8/2014 Basic Definitions Countries surveyed in 2010 and how they are grouped
More informationFOR IMMEDIATE RELEASE CANADA HAS THE BEST REPUTATION IN THE WORLD ACCORDING TO REPUTATION INSTITUTE
FOR IMMEDIATE RELEASE CANADA HAS THE BEST REPUTATION IN THE WORLD ACCORDING TO REPUTATION INSTITUTE Study reveals interesting developments in countries reputations amidst the Euro crisis, the rise of Asia
More informationFORECASTING MODEL FOR THE PRODUCTION AND CONSUMPTION OF COTTON FIBER VERSUS POLYESTER
1 FORECASTING MODEL FOR THE PRODUCTION AND CONSUMPTION OF COTTON FIBER VERSUS POLYESTER Elisa Mauro Gomes Otávio Lemos de Melo Celidonio Daniel Latorraca Ferreira Leandro Gustavo Alves Johnnattann Pimenta
More informationOpen access policies: What can we learn from Latin America? Roxana Barrantes Instituto de Estudios Peruanos
Open access policies: What can we learn from Latin America? Roxana Barrantes Instituto de Estudios Peruanos 8.00 GDP growth 1999 2009 (percetual variation) 6.00 4.00 2.00 0.00-2.00-4.00-6.00 1999 2000
More informationPlenary 3. 13. Market and Information Access for the Investor in the Internet Age, Speech by Mr. José Luis Osorio
Public Documents of the XXVI th Annual Conference of the International Organization of Securitie s Commissions ( IOSCO) 23-29 June, 2001, Stockholm, Sweden Plenary 3 Market and Information Access for the
More informationCosmetics Market in Asia: Favorable Demographics Fuel Sales
Brochure More information from http://www.researchandmarkets.com/reports/575260/ Cosmetics Market in Asia: Favorable Demographics Fuel Sales Description: The Japanese cosmetics market is in a stable condition
More informationBanco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Exchange legislation, hereby files the following RELEVANT EVENT
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Exchange legislation, hereby files the following RELEVANT EVENT Attached please find a press release on the changes of the
More informationPostal Services - enabling SME in E-commerce market. Paul DONOHOE Programme Manager, Electronic postal services & E-Commerce
Postal Services - enabling SME in E-commerce market Paul DONOHOE Programme Manager, Electronic postal services & E-Commerce UPU 2013 All rights reserved Agenda 1. Domestic SME support 2. International
More informationINTERNATIONAL FACTORING
INTERNATIONAL FACTORING November 3, 2011 1 L. Gabriel Segura President and founding officer of CVCredit Inc, a Miami-based company which focuses in USA-domestic and international factoring services. Nine
More informationRESOLUTION. (Adopted on Committee Two of CNMUN 2010)
RESOLUTION (Adopted on Committee Two of CNMUN 2010) Council: UN Human Rights Council Committee Two Topic: the Impact of Financial Crisis on the Universal Realization and Effective Enjoyment of Human Rights
More information2014 Brazil Digital Future in Focus
2014 Brazil Digital Future in Focus The 2013 Digital Year in Review & What It Means for the Year Ahead Alex Banks, VP Latin America & Director Brazil May, 2014 www.facebook.com/comscoreinc @comscorelatam
More information18th Year of Publication. A monthly publication from South Indian Bank. www.sib.co.in
To kindle interest in economic affairs... To empower the student community... Open YAccess www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank 18th Year of Publication SIB STUDENTS
More informationElectricity Tariffs Around The World
The Long and Winding Road Rio Slums & the Electric Utility Jerson Kelman Harvard Brazil Studies Program Electricity Tariffs Around The World Average Residential Tariff Index (without taxes) 2004-2008 (Brazil
More informationWelcome to SONDA. MBA Students and Faculty Robert H. Smith School of Business University of Maryland
MBA Students and Faculty Robert H. Smith School of Business University of Maryland Welcome to SONDA 1 Mr. Rodrigo A. Peña Investor Relations Officer May 27, 2008 AGENDA SONDA in a Snapshot IT Industry
More information