Lula's Betting Ban, Diesel Subsidy Extended

• retail
• finance

Lula bans betting with immediate effect

President Luiz Inácio Lula da Silva signed a provisional measure banning betting activities in Brazil, effective immediately. The measure targets both physical and online sports betting and gaming, citing public health concerns and family indebtedness as reasons. The ban requires approval by a mixed congressional committee within 120 days to become permanent, according to O Globo. The National Association of Games and Lotteries plans to challenge the measure in court, A Tarde reports.

Impact Betting operators must cease operations immediately, affecting revenue and employment in the sector.

Watch The measure needs congressional approval within 120 days.

Sources: Extra ↗, AgenciaBrasil ↗, O Globo ↗, A Tarde ↗

• energy
• logistics

Diesel subsidy extended by 30 days

The Ministry of Finance extended the diesel subsidy of R$ 2.12 per litre for road use by 30 days, according to a late-night portaria. This prevents the subsidy from dropping to R$ 1 per litre, as the measure supporting the additional R$ 1.12 was set to expire. The extension comes just days before the elections, as reported by Extra.

Impact Transport and logistics companies benefit from continued cost relief on diesel fuel.

Sources: Extra ↗, O Globo ↗, Folha de S.Paulo ↗