São Paulo – Last Tuesday evening (23rd) in São Paulo, the embassy of Oman in Brasília inaugurated the exhibition Tolerance, Understanding, Coexistence –Oman’s Message on Islam, featuring panels of photographs and texts portraying the history and the culture of the Gulf country. The show was designed by the Omani Ministry of Endowments and Religious Affairs, backed by the Arab Brazilian Chamber of Commerce and will be short-lived, lasting until next Friday (27th). From June 30th through July 4th it will feature in Foz do Iguaçu, Paraná.

The exhibition features books written in Arabic and 44 panels recounting the history of Oman, highlighting its culture, architecture, the role of women in society, arts and handicraft. The panels also show that in Oman, Islam, Christianity and Judaism coexist in harmony, as do the Islamic branches of the Sunnis, Shiites and Ibadis. Some of the panels depict the Arab country’s natural landscapes, its economy, the legal system, tourism and infrastructure. All photographs are accompanied by explanatory texts.

 The show also features four panels with Arabic phrases and words written in relief. When lit up, the words cast shadows resembling people praying.

World tour

At the opening cocktail party held by the Omani embassy, the advisor to the Ministry of Endowments and Religious Affairs, Mohammed Said Al-Mamari, stated that the exhibition aims to show the respect to diversity is a reality in Oman. The show has been to 47 cities in Japan, Germany, United States, United Kingdom, Austria, Netherlands, Slovenia, Spain, Italy, Belgium, Estonia, Lithuania and Kuwait.

“It is good to be able to hold the show in Brazil at a time when the country is in the spotlight because of the World Cup. It is a great opportunity to convey our message of tolerance and respect,” said Mamari. “We want to show that our country is a place where different people and cultures coexist peacefully,” he said. After Foz do Iguaçu, the exhibit will leave Brazil and should keep travelling for another three years. According to Mamari, cities in South and North America should host the show.

 Arab Chamber president Marcelo Sallum said he has travelled to Oman and that the country is a role model when it comes to being in good terms with all Middle East nations. “Commerce requires peace in order to take place. Thus being, we provide support to events of this kind with utmost satisfaction,” he told ANBA.

Service

Exhibition Tolerance, Understanding, Coexistence –Oman’s Message on Islam
June 25th to 27th
From 10:00 am to 8:00 pm
Club Homs – Paulista Avenue, 735, Bela Vista, São Paulo – SP
Admittance is free

*Translated by Gabriel Pomerancblum

São Paulo – Foreign direct investment (FDI) from Middle Eastern countries increased by 65% in 2013 from 2012, according to the World Investment Report 2014 disclosed this Tuesday (24th) by the United Nations Conference on Trade and Development (Unctad). The result was boosted by the Gulf Cooperation Council member nations, group consisting of Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Kuwait and Oman. The FDI, as a general rule, are resources applied to productive sectors of the economy.

According to the organization, these countries have high level international reserves of hard currency. They are traditional producers and exporters of oil, gas and oil products, and therefore have large liquidity in dollar. Each member has increased foreign investments, but, according to the Unctad, Qatar stands out as it has increased fourfold the amount, and Kuwait, which has increased it by 159%.

The report adds that the resources originated in the region should increase in the future. On the other hand, the perspectives for the block as an investment destination are not bright, given the political uncertainties surrounding Middle East.

Last year, the flow of FDI for the nations in the region declined for the fifth consecutive year. The total amount posted was US$ 44 billion, a decline of 9% when compared to 2012, according to the Unctad. “High and persistent regional tensions continue to increase political uncertainty and hold back foreign direct investors,” said the organization on a communiqué.

There are, however, differences between the countries. Investment flow to Iraq, for instance, amounted to US$ 2.9 billion in 2013, an increase of 20% from 2012. In the Emirates, the inflow of resources reached US$ 10.5 billion, an increase of 9% in the same comparison. This has positioned the country as the second FDI recipient in the region last year, only behind Turkey.

Investments in Saudi Arabia dropped by 24% to $ 9.3 billion. This has repositioned the country from the second to third largest FDI recipients in Middle East.

Jordan’s flow has increased, while Lebanon’s and Kuwait’s decreased.

In North Africa, FDI flow stood at US$ 15.5 billion in 2013, down 7% from the previous year. The Unctad, however, points out that the overall level seen is relatively high and investors are expected to return.

Egypt remains as the main destination of investments in the region, in spite of a 19% decline to US$ 5.6 billion from last year. Other North African nations, however, received more resources than in 2012. Morocco and Sudan, for instance, attracted US$ 3 billion each.

Global flow

According to the Unctad, the global flow of foreign direct investment reached US$ 1.45 trillion last year, an increase of 9% from 2012. The organization estimates the total to reach US$ 1.6 trillion in 2014, US$ 1.75 trillion in 2015 and US$ 1.85 trillion in 2016. The projections are still below the record of US$ 2 trillion reached in 2007, before the international financial crisis.

In the years following the crisis, the international flow of direct investments was pushed by emerging countries, and last year these nations received US$ 778 billion, a record value equivalent to 54% of the world’s total.

In the next years, however, developed nations should resume receiving more resources. The Unctad forecasts that these countries’ share should amount to 52% of the total in 2016, after standing below 40% in 2012 and 2013.

Investments in developing countries, however, should reach a higher level in the next years.

Brazil

In Latin America, the FDI flow reached US$ 182 billion in 2013, up 6% from 2012. The increase was driven by Central America Central and the Caribbean.

Brazil, the main destination in the region, received US$ 64 billion, down 2% from the previous year. However the Unctad said that some sectors, such as the primary sector, auto, electronic and beverage industries, have actually received more resources. The organization pointed out the growth potential of the Brazilian auto industry, with new investments announced and under way.

The 2013 result, however, moved Brazil from fourth to fifth position among the nations with highest inflow of FDI. The country is behind the United States, China, Russia and Hong Kong. Russia, on the other hand, moved from the seventh to the third position.

*Translated by Rodrigo Mendonça

Brasília – Overseas spending by Brazilian travellers reached a new record in May. According to figures released by the Brazilian Central Bank (BC, in the Portuguese acronym) this Tuesday (24th), US$ 2.266 billion were spent last month, the highest amount ever for the period. In May 2013, expenditure reached US$ 2.221 billion.

Year-to-date through May, overseas spending by Brazilians amounted to US$ 10.484 billion, as against US$ 10.301 billion in the same period of 2013.

Spending by foreigners during trips to Brazil stood at US$ 531 million in May 2014, as against US$ 522 million in May last year. Year-to-date through May, foreigners spent US$ 2.849 billion in the country, as against US$ 3.027 billion in the same period of 2013.

The resulting travel account deficit was US$ 7.635 billion year-to-date through May and US$ 1.735 billion in May alone. The BC informed that it has revised its international travel account deficit projection for this year down from US$ 18.5 billion to US$ 18 billion.

As for Brazil’s current account deficit, the BC has kept its deficit projection for this year at US$ 80 billion. The deficit is expected to amount to 3.47% of the Gross Domestic Product (GDP); the prior forecast was 3.59%. The bank revises its projections on a quarterly basis.

The BC’s trade balance surplus (exports exceeding imports) forecast for this year has dropped from US$ 8 billion to US$ 5 billion. The services account deficit forecast (international travel, transportation, equipment rental, insurance and others) has been lowered from US$ 51.2 billion to US$ 47.6 billion.

Regarding the income account (profit and dividend remittances, payment of interest and wages), the US$ 39.9 billion deficit estimate has been maintained.

The net inflow of unilateral current transfers (US dollar donations and remittances to or from other countries, with no counterpart in services or goods) has been revised down from US$ 3.1 billion to US$ 2.5 billion.

Deficit

Year-to-date through May, the current transaction deficit was US$ 40.074 billion, as against US$ 39.295 billion in the same period of 2013. The sum is equivalent to 4.26% of the GDP.

Whenever the country incurs a current account deficit, the result has to be financed either via foreign direct investment (FDI) or via loans from foreign countries. FDI is considered the best mode of financing due to its long-term character.

However, the BC does not expect FDI to completely offset the deficit this year. The bank believes FDI should reach US$ 63 billion this year, same as in the prior estimate. FDI is now expected to amount to 2.73% of the GDP, as against 2.83% in the previous forecast. Year-to-date through May, FDI in Brazil stood at US$ 25.34 billion.

The BC expects foreign investment in shares traded in Brazil and abroad to amount to US$ 12 billion, as against US$ 5 billion in the prior forecast. Investment in bonds traded in Brazil should be US$ 18 billion; the previous estimate was US$ 15 billion.

*Translated by Gabriel Pomerancblum

São Paulo – Algeria is still going for the classification for the round of 16 at the World cup. After losing 2 – 1 against Belgium on Tuesday (17th), in Belo Horizonte, the Arab team won against South Korea 4 – 2 on this Sunday (22nd), in Porto Alegre. And once again supporters flocked to the stadium. According to Rio Grande do Sul’s government’s website, 42,000 people, among Algerians, Brazilians and South Koreans, watched the game at the stadium Beira-Rio.

After the victory, Islam Slimani, striker of the “greens”, as the Algerian team is known, stressed the support and enthusiasm of the supporters. “That is the way our supporters are, you haven’t seen a thing yet,” said the athlete, chosen as the best player in the match, according to the website of the government. The Algerian team went to the part of the stadium where the supporters were located to celebrate the victory.

One of these supporters is Dekkar Rafik, who is in Brazil for the first time and watches all Algeria’s games. “People here are very nice, everything is well-organized and there is a lot of beef in the city,” he said, according to the website. Barbecue is typically eaten in Rio Grande do Sul.

According to the government’s website, besides Algerian who flew to Porto Alegre, 30 buses took Algerian supporters from other Brazilian states to the city. There were also 800 people who were in Gramado, in the Gaucho Highlands (Serra Gaúcha).

According to information from the state government, the attendance of the Algerian public helped Gramado’s hotel break the occupancy rate by foreign visitors. Over 30% of the beds in the city were occupied by foreign tourists, surpassing previous 3% record.

With the result, Algeria got 2nd place in Group H with three points, behind Belgium, with six, and ahead of Russia and South Korea, both scoring only one point. Two teams per group move to the next stage.

Belgium is already classified, but which team gets the second spot will be decided only in the third turn of the group, which will be held on Thursday (26th). Algeria and Russia will play at stadium Arena da Baixada, in Curitiba, and South Korea and Belgium will play at the Itaquerão stadium, in São Paulo.

But there were also problems at the game on Sunday. According to the website of Porto Alegre’s mayor hall, supporter Djamell Marref was injured in the face in a brawl with fellow Algerian supporters and suffered a hemorrhage in one of the eyes. He was rushed to the hospital (Hospital de Pronto Socorro or HPS) and was in observation until this Monday (23rd) morning.

Another Algerian supporter, according to the mayor hall’s website, went to the First care unity (Unidade de Pronto Atendimento or UPA) of Fifa’s Fan Fest in Porto Alegre. According to the website, he fell and hurt his knee, though stiches were not necessary so he was released soon after.

*Translated by Rodrigo Mendonça