Brazil’s Modern Logistics seeks $200m in new investment
Modern Logistics, a freighter-operating Brazilian “integrated logistics” company, is looking for $200m in investments so ...
With even airports running low on fuel reserves, the Brazilian government has struck a last-minute deal to avert 15 days of nationwide truck strikes. In the port of Santos there were virtually no arrivals or departures of trucks for three days, the management said, even if the “loading and unloading operations of ships continues normally” for now. In Brasilia, the airport was allowing only planes to land that had enough fuel to take off again, while the price of fruits and vegetables rose up to 400%.
Outlook India reports the deal came through last night. The agreement will see one diesel tax abolished and new subsidies implemented resulting in a 10% fuel price reduction. For now, the strikes are only suspended, but the government needs to put the changes into law, said the union.