Read this Friday’s edition of the FolhaMercado newsletter (31) – 03/31/2023 – Market

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How the new rule was received

The Stock Exchange closed at an increase of almost 2% and the dollar below R$ 5.10, while market agents digested the new fiscal rule presented this Thursday (30) by the Minister of Finance, Fernando Haddad.

Understand: the rule that will replace the spending cap provides, according to the Sheet had anticipated, a new brake on expenses, which would grow above inflation, but at a slower pace than revenue.

• Here we gather the main points of the new fiscal framework proposed by the Lula government.

The repercussion:

• Among market analyststhe impression was left that the rule generates predictability of the trajectory of the public debt and sends a signal that the government works with a limit on expenditures, despite the focus being on rising revenues.

• Economists heard by Sheet praised the design of the rule, but a skeptical view of the significant increase in revenue predicted by the economic team prevails among them.

this thursdayHaddad said that he will present a package to increase the collection between BRL 100 billion It is BRL 150 billion per annum. He said that the idea is to review tax benefits and start charging taxes from sectors that currently do not pay, but did not provide further details.

Analyzes

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Chinese giant splits into six

Chinese group Alibaba this week announced its biggest restructuring since it was founded by billionaire and former English teacher Jack Ma 24 years ago.

• The giant will be separated into six independent business units, which are cleared to list their shares on the Stock Exchange.

Understand: the conglomerate, today with 240 thousand employees, will be separated into (1) domestic and (2) international e-commerce, (3) cloud computing, (4) local services, (5) digital media, and (6) logistics.

• Alibaba will own its Chinese e-commerce unit, which includes websites Tmall and Taobao and last fiscal year generated more profits than the group as a whole.

• At first, the shareholding control of the six units will be under the umbrella of the group.

Which explains: the company attributed the decision to the need for companies to become more agile to face the strong competitiveness of the Chinese market. But the change is also justified by economic and political reasons.

• Separated, the units can have their “unlocked value”, as they say in the market to refer to companies that were undervalued in a large and complex structure. Logistic and cloud computing units can get along well.

• The “full independence” of each of Alibaba’s arms could help ease the Communist Party’s fears about a company that has grown too big and come under the radar of Beijing’s regulatory crackdown in recent years.

The announcement of the restructuring happened days after Jack Ma, who is no longer the CEO of the group since 2019, was again publicly seen in China after being missing around the world.

• He disappeared from the spotlight after Beijing canceled the IPO of Ant, Alibaba’s fintech, which would be the world’s largest initial offering. At the time, Ma had been attacking China’s financial watchdogs and banks.

• The event sparked a Chinese regulatory crackdown on companies in the country. The tightness ended up being eased only this year, given the slow recovery of the economy in the post-Covid period.

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take a break

With four seasons, the program accompanies the routine operations of civil servants who work in the inspection of bags and passengers in the country’s airports, mainly in Guarulhos, the largest air cargo terminal in Latin America.

• The series returned to the spotlight at the beginning of the month, when the seizure of Saudi jewelry sent last year to former president Jair Bolsonaro (PL) came to light.

• Mario de Marco Rodrigues, Federal Revenue delegate who is a frequent presence on the program, was the one who refused a request made by former Revenue Secretary, Julio Cesar Vieira Gomes, to release the items, according to a report by UOL.

The cameras accompany the routine operations of professionals from bodies with different attributions: Federal Revenue Service, Anvisa, Vigiagro (International Agricultural Surveillance) and Ibama.

While in the first seasons the most shown seizures are of kilos of cocaine hidden in false bottoms of suitcases and undeclared goods that come from abroad, in the fourth season, recorded after the beginning of the Covid pandemic, there are cases of seizure of brazilwood illegally harvested and endangered fish that were heading abroad.

On Monday (27)who had to pass through the restricted area of ​​the Guarulhos airport was the Lebanese designer Elie Saab, who has already dressed the singer Beyoncé.