Economy

• Friday, August 17th 2018 - 10:10 UTC

  Eliminating glyphosate would be a “disaster” for Brazilian agriculture

  

  A potential ban on the popular herbicide glyphosate in Brazil over concerns it may cause cancer in humans would be a “disaster” for the country’s agricultural industry, Agriculture Minister Blairo Maggi said on Thursday.

• Friday, August 17th 2018 - 08:58 UTC

  Argentina struggling to tame markets and inflation; talks for a currency swap with China

  

  Argentina’s central bank said on Thursday it hiked reserve requirements by 3 percentage points for the country’s largest banks, as it tries to keep its plan for reducing short-term debt from adding to already high inflation.

• Thursday, August 16th 2018 - 22:42 UTC

  Brazil corn production next season could reach a first time 100m tons

  

  Brazilian farmers are expected to plant a record amount of soybean acres this coming season, encouraged by strong demand from China, and yield a record harvest next year, consultancy Céleres said in its first forecast for the new cycle. The next crop cycle in Brazil, the world's No. 1 soybean exporter, begins in September.

• Thursday, August 16th 2018 - 22:12 UTC

  Mercosur reliance on China and industrial protectionism, challenges for a deal with EU

  

  Mercosur excessive reliance on exports to China and industrial protectionism in chemicals are core stumbling blocks to reaching a free trade agreement (FTA) with the EU, a policy paper published by the 28-country bloc released on Monday.

• Thursday, August 16th 2018 - 21:15 UTC

  Brazilian food giant JBS hit by a surge in feed costs and trade conflicts

  

  Brazilian food company JBS SA would need to raise product prices by another 7% at its processed foods division Seara to offset a surge in feed costs, executives said on Wednesday. Seara raised prices by 3% in the second quarter, the executives said on a conference calls with analysts to discuss second-quarter results.

• Thursday, August 16th 2018 - 15:43 UTC

  Brazilian economy contracts 0.99% in second quarter because of truckers strike

  

  Brazil's economy contracted nearly one percent in the second quarter due to a truckers' strike, the country's Central Bank said on Wednesday. The nine-day strike that ended in late May caused fuel shortages, cut into food deliveries and backed up exports.

• Thursday, August 16th 2018 - 14:48 UTC

  US condemns Turkey's doubling of tariffs on US imports: “a step in the wrong direction”

  

  The White House on Wednesday condemned Turkey’s doubling of tariffs on U.S. cars, alcohol and tobacco imports, calling the action “a step in the wrong direction.” Turkey took the action in response to what it called the Trump's administration's attack on its economy. The United States doubled tariffs on Turkish steel and aluminum last week, which contributed to a tumble in the Turkish lira.

• Thursday, August 16th 2018 - 14:38 UTC

  Corona beer owner investing US$ 4 billion in the cannabis industry

  

  Corona beer owner Constellation Brands is set to pour some US$ 4 billion into Canada's top cannabis producer, Canopy Growth, in a deal marking the largest investment in the industry to-date. Last year, Constellation injected US$ 200m into Canopy in a deal to produce a non-alcoholic cannabis-based beverage. The alcohol firm wants to capitalize on the growing legalization of the drug.

• Thursday, August 16th 2018 - 10:40 UTC

  UK inflation in July climbed to 2.5%: a blip or a trend?

  

  UK inflation climbed in July as had been expected, according to the latest data from the Office of National Statistics, ONS, released on Wednesday. ONS reported that the rate of consumer price inflation, the most-watched measure, increased from 2.4% in June to 2.5% in July, reversing a trend of gradually declining inflation over the course of 2018.

• Thursday, August 16th 2018 - 09:13 UTC

  Qatar to the rescue of Turkey with US$ 15bn in direct investments

  

  Qatar has come to the rescue of Turkey and its ruler Amir Sheikh Tamim bin Hamad al-Thani issued directives to support the Turkish economy with a host of economic projects, investments and deposits worth a total of US$ 15 billion. This follows a meeting of the Amir with the Turkish president Recep Tayyip Erdogan on Wednesday in Ankara.