247 - The proposal for taxing large fortunes is gaining more and more support among Brazilians. Seven out of ten Brazilians support the idea. According to Jamil Chade in his column on UOL, the data is part of a survey published by Ipsos, which reveals that in the world's major economies, more than two-thirds of the populations believe that the rich should pay a higher volume of taxes. "Support for a wealth tax on rich people is highest in Indonesia (86%), Turkey (78%), the United Kingdom (77%), and India (74%). Support is lowest in Saudi Arabia (54%) and Argentina (54%), but still more than half of those surveyed," he indicates.
In Brazil, a major enthusiast of the proposal is the Finance Minister, Fernando Haddad. He emphasizes the urgency of implementing taxes on large fortunes to raise resources to fight global hunger and promote actions against climate change.
Recently, he met with Pope Francis at the Vatican. The meeting was not open to the press, but one of the topics discussed was the global taxation of large fortunes, an idea advocated by Brazil during its G20 presidency.

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Tax on Large Fortunes Has the Support of 70% of Brazilians

247 – The Global Organisation of BRICS (GoBRICS), recently established in New Delhi, India — which will host this year’s annual BRICS summit — has begun outlining an early-stage project for the development of a sovereign data center in Brazil, in partnership with ESDS and with support from the government of Bahia. The initiative reflects a strategic intention to expand digital infrastructure and deepen technological cooperation among BRICS nations.
The initiative is currently advancing through its initial planning phase, with details regarding investment scale and implementation timeline expected to be defined as the project progresses. Nevertheless, the proposal points to the potential positioning of Brazil — particularly the state of Bahia — as a relevant digital hub in Latin America, aligned with broader efforts toward technological autonomy and data sovereignty.
<h2>Project in formative stage</h2>
According to initial discussions, the planned data center could eventually serve as a platform for sovereign cloud services, AI-driven enterprise solutions, and secure data exchange among BRICS countries.
The concept also includes potential support for sectors such as fintech, digital trade, and government services. However, these elements remain part of a preliminary framework, subject to further development as the project evolves.
<h2>Focus on digital sovereignty</h2>
GoBRICS Executive Director and CEO, Colonel Pawan Josh, emphasized the strategic ambition behind the initiative, while acknowledging its forward-looking nature.
<blockquote>"This initiative is not just about building a data center, but about building digital sovereignty for the future. Brazil, particularly Bahia, has the potential to become a strategic gateway for the BRICS ecosystem", he said.</blockquote>
He noted that the proposal aims to establish secure and scalable infrastructure, though it still depends on institutional alignment and future partnerships.
<h2>Technology partnership under evaluation</h2>
Mr. Piyush Somani, CMD &amp; Chairman of ESDS Software Solution Ltd., expressed confidence in the initiative’s potential:
<blockquote>"At ESDS, we have always believed that sovereign digital infrastructure is the foundation of a nation’s technological future. Our partnership with GoBRICS in Brazil is a reflection of that conviction, and we are committed to bringing world-class capabilities to the BRICS ecosystem."</blockquote>
ESDS Director Amit Sisodia highlighted the company’s experience in digital infrastructure, while indicating that its involvement in Brazil is still under consideration.
<blockquote>"Our collaboration in Brazil represents a transformative opportunity, not only to deploy advanced technology, but to create a long-term digital backbone that supports innovation and national growth", he stated.</blockquote>
He added that the initiative is still in development and will require further definition before moving forward.
<h2>Brazil as a potential regional leader</h2>
GoBRICS Country Ambassador in Brazil, Leonardo Attuch, pointed to Brazil’s strategic position in the evolving global digital landscape.
<blockquote>"Brazil stands at the threshold of a new digital era. This initiative reflects the strength of BRICS cooperation and the vision of building independent technological capabilities", he said.</blockquote>
Attuch emphasized that the effort seeks to bring together key partners, though it remains in an initial articulation phase.
<h2>Brazil–India cooperation in focus</h2>
The proposal also reflects growing alignment between Brazil and India in areas such as the digital economy, infrastructure development, and innovation ecosystems.
Bahia is seen as a potential focal point for this cooperation, although expected impacts such as job creation and investment inflows will depend on the project’s eventual implementation.
<h2>Next steps remain open</h2>
GoBRICS positions itself as a catalyst for international collaboration within the BRICS framework, and the Brazil data center initiative could evolve into a significant project in the future.
Further announcements are expected in the coming months as the initiative advances and gains greater definition.

GoBRICS e ESDS planejam datacenter na Bahia

GoBRICS outlines early-stage project for sovereign data center in Brazil with Bahia support

247 — Brazil’s Securities and Exchange Commission (CVM) has reversed an earlier ruling that would have required Ambipar's controller. to launch a mandatory tender offer to minority shareholders.
In a decision reached during its 27th board meeting on July 29, 2025, the commission concluded that there was no irregularity in the recent appreciation of Ambipar’s shares and that no coordinated action had occurred between the company’s controlling shareholder and affiliated investors.
The reversal overturns a prior determination by CVM’s Securities Registration Superintendence (SRE), which had argued that asset manager Trustee, businessman Nelson Tanure, and Banco Master had acted in concert with Ambipar’s controller, Tércio Borlenghi Júnior, to increase their stake in the company — thereby triggering a mandatory public offer under Brazilian securities law.
In its official bulletin, CVM noted the tie-breaking vote cast by interim chair Otto Lobo, along with a supporting vote from board member João Accioly. The ruling accepted appeals filed by the parties involved and concluded that the case did not meet the criteria established under Article 30 of CVM Resolution No. 85/2022. Dissenting votes were recorded from former chair João Pedro Nascimento, who resigned on July 21, and director Marina Copola, both of whom had supported requiring the tender offer.
Ruling ends months-long uncertainty in the market
The decision brings to a close a period of legal and market uncertainty that began in March, when the SRE first ordered Ambipar to carry out a tender offer on the basis that its shareholder group had exceeded the one-third threshold of freely traded shares.
At the time, Ambipar said it was “fully compliant with applicable laws and regulatory requirements,” and that it would seek clarification from CVM regarding the order.
With the regulator’s final ruling now in place, analysts expect the decision to restore market predictability and reduce legal risk for publicly traded companies in similar situations.

Brazil’s CVM reverses ruling, says Ambipar's controller not required to launch tender offer

247 – President Luiz Inácio Lula da Silva’s government is considering tightening quarantine rules for former public officials, extending the restriction period from 6 to 18 months during which they are barred from representing private interests before the sector in which they served. The information was reported by the Painel column in Folha de S.Paulo and confirms that the measure has been under discussion since July 2024 within the Public Ethics Commission (CEP) and the Ministry of Management. The proposal also includes maintaining compensatory remuneration only for the first six months.
The initiative is a direct response to recent episodes that exposed the fragility of current rules, such as the case of former Central Bank president Roberto Campos Neto, who, after leaving the monetary authority at the end of 2024, was quickly hired by Nubank as vice-chairman and global head of public policy. The episode raised red flags within the government and civil society sectors over the risks of the so-called "revolving door" — the practice whereby high-ranking state officials transition almost immediately into the private sector, taking with them sensitive knowledge, political influence, and privileged access.
In a Roda Viva interview in June 2024, the Minister of the Office of the Comptroller General (CGU), Vinicius Marques de Carvalho, had already publicly defended a longer quarantine period to prevent abuses. “The quarantine issue isn’t just about privileged information, right? We always need to think of the remedy in relation to the disease we want to cure,” said the minister, pointing to the ethical imbalance caused by these rapid transitions.
The Campos Neto case is particularly symbolic — and serious. After leading the Central Bank with formal autonomy but frequent alignment with financial market interests, his move to one of the country’s largest fintechs — which is regulated by the very authority he headed — is a clear example of conflict of interest. By accepting the Nubank position immediately after leaving the Central Bank, Campos Neto not only fueled suspicion about the neutrality of his decisions while in office, but also exposed the lack of effective ethical barriers between public and private sectors.
Criticism of the revolving door is not new, but gains renewed urgency in a context where large corporations seek to directly influence public policy by hiring former authorities. In the financial sector specifically, where information asymmetry can generate billions in profits, the unrestricted movement of former officials between regulatory roles and banks severely undermines institutional credibility and public trust.
The proposed change in quarantine rules thus represents an effort to restore integrity in public service and shield the state from corporate capture. However, the measure still needs to be translated into a robust bill with effective oversight, or it risks remaining a mere rhetorical gesture.
Cases like that of Campos Neto lay bare the urgent need to reform this system and make it clear that public interest cannot be treated as a gateway to private gain. Democracy suffers when its highest officials turn their positions into credentials for immediate personal profit in the private sector. The government is right to open the debate — now it must show the political will to ensure the new rules have real teeth.

Government seeks to change quarantine rules to prevent cases like Campos Neto and Nubank

247 – Amid ongoing diplomatic efforts to reactivate peace talks between Russia and Ukraine, President Luiz Inácio Lula da Silva spoke by phone with Russian President Vladimir Putin during a technical stop in Moscow on his way back from an official visit to China.
According to information from Kommersant, Lula reiterated Brazil's commitment to promoting dialogue and encouraged Putin to personally attend the talks scheduled for May 15 in Istanbul.
The call came after Lula announced, in Beijing, the signing of a joint declaration with the Chinese government in support of the immediate resumption of direct negotiations between Moscow and Kyiv. The Brazilian president stated he would do "everything possible" to contribute to the success of the meeting.
The Kremlin has yet to confirm whether Putin will attend the negotiations in Turkey. Ukrainian President Volodymyr Zelensky declared that he would only participate in the talks if the Russian leader were present, directly challenging Putin to attend in person.
The peace proposal advanced by Brazil and China, which advocates resuming dialogue and de-escalating the conflict, had previously been rejected by Kyiv. Zelensky called the initiative “destructive” and accused its proponents of ignoring Ukrainian sovereignty.
Meanwhile, Western leaders like French President Emmanuel Macron warn of the risks of prolonging the war and support a negotiated solution. Macron stated that "the war must end and Ukraine must be in the best possible position to enter negotiations."

Lula tries to convince Putin to take part in direct negotiations with Zelensky in Istanbul

247 – President Luiz Inácio Lula da Silva once again criticized, this Monday (12), the trade tariffs imposed by U.S. President Donald Trump, stating that protectionism threatens the global trade order and could lead to conflict.
Lula said he is “inconformado” (outraged) by the taxation that the U.S. president is trying to impose on the world and made a strong defense of multilateralism in a speech at the Brazil-China Business Forum in Beijing.
“That’s why I can’t accept the so-called taxation that the president of the United States [Donald Trump] tried to impose on planet Earth overnight, because multilateralism after World War II was what guaranteed all these years of harmony between nations. It wasn’t protectionism,” the president declared.
According to Lula, protectionism in international trade can lead to conflict, as has happened many times throughout history. “Protectionism in trade can lead to war, as has happened so many times in the history of humanity. What we want is multilateralism so we can practice free trade,” he said.

In China, Lula criticizes Trump’s tariffs and rejects protectionism

By Cui Xingyu, reporter for CGTN, special to Brasil 247 – Over the past decade, China and Latin America have built a dynamic partnership marked by deepening economic cooperation, cultural exchanges, and mutual understanding. From the launch of the Chancay Port in Peru — a key logistics hub linking the Asia-Pacific region — to the construction of Line 1 of the Bogotá Metro, Colombia’s first railway project, the shared ambition between both sides has materialized in concrete progress on the ground. Beyond infrastructure, it is the lived experiences of individuals that truly strengthen this growing bond. Through their personal journeys, we see how two geographically distant regions can — and are — building meaningful connections. <h3>A Brazilian scholar’s lifelong bond with China</h3> For Evandro Menezes de Carvalho, head of the Brazil–China Research Group at the Getulio Vargas Foundation in Rio de Janeiro, China is more than an object of academic study. His connection with the country began in 2013. Driven by a deep curiosity about different legal systems and a growing interest in Brazil’s largest trading partner, Carvalho arrived in Shanghai as a visiting researcher. His three-year stay provided him with a radically different perspective on China compared to the one often portrayed by Western media. What began as an academic inquiry soon became a deep engagement with Chinese society, culture, and governance. Since then, Carvalho has returned to China frequently, with each visit enriching his understanding of the country. In 2023, he spent nearly a year at Peking University, deepening both his research and personal experiences. He currently serves as the Wutong Chair Professor at Beijing Language and Culture University and remains committed to fostering intercultural dialogue. He also brings his insights into the classroom in Brazil, encouraging a new generation of students to explore and understand China beyond stereotypes. Outside academia, he translated Chinese President Xi Jinping’s book Up and Out of Poverty into Portuguese, making it accessible to Brazilian readers. He is also the author of China: Tradition and Modernity in the Country’s Governance, which offers local readers a detailed and accessible view of China. In 2023, Carvalho was awarded the Chinese Government Friendship Award — the highest honor given to foreign experts in China.  <figure><img src="https://cdn.brasil247.com/pb-b247gcp/swp/jtjeq9/media/20250413050452_edcc4c6f97fd02406827179805a92a71b4b21441315020cdbcf2fc37f58e6b10.png" data-media-id="editor_0" data-image-id="20250413050452_edcc4c6f97fd02406827179805a92a71b4b21441315020cdbcf2fc37f58e6b10" data-rendition-name="original" width="2698" height="2058" loading="lazy" alt="Evandro Menezes de Carvalho"><figcaption>Evandro Menezes de Carvalho(Photo: Divulgação)</figcaption></figure>  Evandro Menezes de Carvalho (left) receives the Chinese Government Friendship Award at the Great Hall of the People in Beijing, China, February 4, 2024. Photo: Courtesy of Evandro Menezes de Carvalho <h3>A Peruvian entrepreneur’s business success in China</h3> In Yiwu, a bustling city in China’s eastern Zhejiang Province — known as the “world capital of small commodities” — Harold Mori, a young entrepreneur from Peru, is building a thriving export business. Like many others, Mori’s journey began with the goal of studying abroad. Fresh out of university, he wanted to learn a new language and quickly chose China as his destination. In 2015, he arrived in Shanghai to study Chinese, later pursuing an MBA in the city. Immersed in the country’s dynamic urban life, Mori became fascinated by the constantly evolving market. After finishing his studies, he made a bold decision: instead of returning to Peru, he stayed and launched a business in nearby Yiwu. There, he found a golden opportunity — an abundance of competitively priced products. From phone accessories and toys to kitchenware and small appliances, Mori’s business specializes in exporting popular Chinese goods to Peru. Now, with the launch of Chancay Port — a flagship project of China’s Belt and Road Initiative — shipping time from China to Peru has been cut to around 20 days. For entrepreneurs like Mori, this means more than faster deliveries: it signals the opening of new opportunities and a future full of potential. <h3>A Chinese doctor’s healing mission in Argentina</h3> In the heart of Buenos Aires, Dr. Li Wenzhong has become a pioneer in building cultural bridges through the healing power of Traditional Chinese Medicine (TCM). As the founder of a TCM clinic and pharmaceutical company, he introduced acupuncture, herbal therapies, and diagnostic techniques to patients far from his hometown of Beijing. His journey to Argentina began in the 1980s, during the early period of China’s reform and opening-up. With the vision of sharing the benefits of TCM with the world, he moved to Buenos Aires and began practicing medicine in a completely different cultural setting. At the time, head lice infestations were a common public health issue in Argentina, especially among school-age children. Conventional treatments were often ineffective and caused unwanted side effects. After months of research and clinical trials, Dr. Li developed a TCM-based treatment that proved safe and effective. The therapy quickly gained popularity and earned the trust of local families. He later turned his focus to education and cultural exchange, becoming a visiting professor at the Faculty of Medicine of the University of Buenos Aires, where he introduced TCM to a new generation of Argentine students. Between 2012 and 2015, with Dr. Li’s support, Argentina’s Ministry of Health sent several delegations to China to explore partnerships in the field of TCM. These exchanges laid the foundation for broader public health cooperation between the two countries. <h3>Geographically distant, united at heart</h3> “True friends always feel close, no matter how far apart they may be.” Chinese President Xi Jinping once cited this line from an ancient Chinese poem to describe the relationship between China and Latin America and the Caribbean. Since 2012, China has been the region’s second-largest trading partner, with cooperation extending beyond raw materials and manufactured goods to include green energy, digital innovation, and cross-border e-commerce. Over the past decade, the Belt and Road Initiative (BRI) has given new momentum to this partnership. To date, 22 countries in the region have signed cooperation agreements with China under the BRI, deepening integration and opening new paths for mutual development. These real-life stories are powerful reminders that although oceans may separate continents, shared aspirations and enduring friendships can bring people even closer. Cui Xingyu is a reporter for CGTN and host of the podcast “Footprints” – which explores personal stories behind China’s global connections.

China deepens ties with Latin America through cultural, commercial and human connections

By Leonardo Attuch
The appointment of former Central Bank president Roberto Campos Neto as vice-chairman and global head of public policy at Nubank is a striking example of the practice known as the “revolving door,” in which public officials, upon leaving strategic positions, take on prominent roles in companies directly benefited by their previous decisions — something that can also be classified as postdated corruption.
The announcement of his hiring came directly from Grand Cayman, in the Cayman Islands — a jurisdiction widely recognized as a tax haven and where Nu Holdings is based. The formalization of the appointment in offshore territory further intensifies ethical and political concerns. What is at stake is not just a career change, but the very real risk that Campos Neto’s previous tenure at the Central Bank may have already been covertly aligned with the interests of the private group that now welcomes him.
During his time at the Central Bank, Campos Neto was responsible for implementing policies that greatly boosted the growth of fintechs in Brazil. Measures such as the launch of Pix, the expansion of open finance, and the development of Drex (digital real) had positive aspects but disproportionately favored fintechs and lacked regulatory and supervisory mechanisms equivalent to those required of traditional banks.
This deregulated environment allowed for the rapid rise of digital companies, many of which operated without adequate transparency or oversight. There have been numerous financial scandals involving fintechs, including fraud against consumers and predatory lending practices. Nubank, Campos Neto’s new employer, may have been one of the beneficiaries.
In addition to the deregulated promotion of fintechs, Campos Neto was one of the main supporters of Constitutional Amendment Proposal No. 65, which aims to weaken institutional oversight tools over the financial system and could directly undermine the role of notary offices in Brazil as instruments of public trust. The initiative has been widely criticized by experts and civil society for reducing the State’s capacity to supervise financial operations and ensure legal security.
These moves, combined with his immediate transition to an influential executive role at Nubank, raise legitimate doubts about the line between public policy and private interests. The statement from Nu Holdings to the U.S. SEC confirms that the transition had been coordinated in advance, despite public claims of compliance with the legally required quarantine period.
Moreover, Campos Neto was at the center of another unprecedented and troubling fact: he was the first president of the Central Bank to remain in office even after admitting to having personal investments in companies located in tax havens. The acceptance of such a conflict of interest by Brazil’s institutional structure set a serious precedent. His direct link to Nu Holdings — also based in the Cayman Islands — deepens this contradiction and points to a pattern of behavior that prioritizes transnational interests over Brazil’s regulatory sovereignty. What is at stake is not only the institutional image of the Central Bank but the credibility of the Brazilian State as a whole in the face of a financial system that has grown increasingly influential.
Another relevant factor is Nubank's history as a sponsor of far-right content in Brazil. The company’s presence in the country’s digital ecosystem has gone beyond finance and into the promotion of political agendas that attack democratic institutions and engage in historical revisionism, as seen in its association with the platform Brasil Paralelo. The link between a former Central Bank president and a company with such a record reinforces the perception of state capture by both private and ideological interests.
If Campos Neto had already been under criticism for imposing exorbitant interest rates on Brazil, the ethical issue now adds to the concern — and should serve as a warning to his successor. The appointment of Gabriel Galípolo as Central Bank president was met with high expectations by sectors advocating for a fairer and more sovereign development model. However, so far, the abusive interest rate policy imposed on the country has not been reversed. The basic interest rate remains high — potentially rising to 14.75% per year — continuing to stifle economic activity, discourage investment, and increase inequality.
It remains to be seen whether Galípolo will represent a true break from Campos Neto’s legacy or follow the same path of subordination to financial capital interests, which cases like Nubank’s exemplify.
The “revolving door” between state and market, when operated without scrutiny or ethical limits, undermines trust in institutions and weakens the country’s ability to build a nation-oriented project for the common good. Campos Neto’s case merely exposes a long-standing problem that has now reached its most scandalous point.

Campos Neto's move from the Central Bank to Nubank is the most scandalous revolving door case in Brazil's history

247 – The Minister of Planning and Budget, Simone Tebet, said in an interview with TV 247 this Monday (May 5) that the election of Donald Trump as president of the United States has created "uncertainties."
Despite the impact of trade tariffs, the Brazilian economy will remain resilient and growth projections will be maintained, Tebet stated. “In light of this, many tectonic plates will shift internally. We are optimistic about Brazil's growth,” she said.
“We are presenting the numbers of the Budget Guidelines Law (LDO) with great firmness and confidence,” she added, referring to the fiscal framework that forecasts a GDP growth of 2.31% for this year and 2.5% for 2026.
Regarding the tariffs imposed by Trump on Brazil, the minister criticized what she called the "chauvinistic, nationalist and completely misguided view of the American government."
In the global "tariff surge" announced by Trump in April, Brazil was hit with a 10% surcharge on all exports to the U.S.

Government remains optimistic about GDP growth despite Trump’s tariffs, says Tebet

João Candido Portinari apresenta a Exposição "O Brasil de Portinari", em Pequim