Banco do Brasil and World Bank ready cooperation on $400 mln for Amazon recovery
Reuters
23-09-19 17:42
Brazilian state-run Banco do Brasil and the World Bank have signed a memorandum of understanding for a $400m credit line to support sustainable agriculture and the restoration of degraded areas in the Amazon region. The agreement builds on a $500m project announced last year to expand sustainable finance and improve access to carbon credit markets. The credit line will provide resources for sustainable agriculture, restoration of degraded areas and the bioeconomy. The World Bank said the partnership will focus on identifying sustainable solutions for Brazil's bioeconomy, forest and land restoration, as well as low-carbon agriculture in the Amazon and Cerrado biomes.
UN General Assembly: End wars, focus on climate change instead -Colombia's Petro
Reuters
23-09-19 17:19
Colombian President Gustavo Petro has called for peace summits to resolve conflicts in Ukraine and between Israel and the Palestinians, so that the global community can focus on addressing climate change. In his speech to the United Nations General Assembly, Petro, who is seeking peace deals in his own country, emphasized the need to end wars in order to have the time to address the climate crisis. He called climate change "the mother of all crises" and urged the world to work towards a de-carbonized economy.
Exclusive: Canada worked closely with U.S. on India's possible link to killing- source
Reuters
23-09-19 16:04
Canada has been working closely with the US on intelligence that suggests Indian agents may have been involved in the murder of a Sikh man in British Columbia earlier this year, according to a senior Canadian government source. Prime Minister Justin Trudeau announced on Monday that domestic intelligence agencies were actively pursuing credible allegations linking New Delhi's agents to the shooting of Hardeep Singh Nijjar in June. The strain on diplomatic relations between Canada and India has also affected trade, with talks on a proposed trade deal paused and a trade mission postponed.
China's economic slowdown is not resulting in interest-rate cuts in neighboring countries in Asia. Despite China's efforts to push down domestic rates and free up cash for lenders, the Federal Reserve's actions still dominate financial conditions in the region. Central banks in South Korea, Indonesia, the Philippines, Australia, and Japan are all hesitant to cut rates due to concerns about inflation and a desire to align with the Fed's policies. China's economic performance is a secondary consideration for these central banks.
EU’s Von Der Leyen Says Massive China Subsidies for EVs Requires a Probe
Bloomberg
23-09-19 21:36
The European Union (EU) has called for an investigation into Chinese support for electric vehicles (EVs) due to the substantial subsidies provided to the industry. The EU's executive arm, the European Commission, announced an anti-subsidy probe last week, which could result in tariffs on EV imports from China. This move has been criticised by Beijing, which has called it an act of protectionism. If tariffs are imposed, China is expected to restrict access to its market. The investigation is part of a broader EU effort to manage its relationship with China and address perceived supply chain and national security risks.
Oracle says it is open banking ready to cater to Canadian banks
Reuters
23-09-19 20:51
Oracle is ready to provide tools for Canadian banks to meet their open banking needs, according to Sonny Singh, executive vice president of Oracle Financial Services. Open banking allows consumers and businesses to transfer their financial data securely between financial institutions and third-party service providers. Singh said Oracle’s suite of financial products, which include purpose-built products for risk management and compliance, could help banks meet open banking requirements. While open banking is not yet available in Canada, it is already in use in other countries including Australia and the UK.
Ecuador reports three birds dead from avian flu in Galapagos
Reuters
23-09-19 20:47
Three birds in Ecuador's Galapagos National Park have died from avian flu, prompting officials to activate biosecurity measures to prevent the spread of the virus. The park has approximately 78 species of endemic and native birds, many of which migrate to mainland Ecuador. Last year, Ecuador declared a state of emergency due to avian flu outbreaks on farms in the Andes.
Building begins on facility linking Canada hydropower to NYC
Reuters
23-09-19 19:45
Construction has begun on the converter station of the Champlain Hudson Power Express transmission line, which will bring Canadian hydropower to New York City. The 340-mile transmission line will deliver power from Quebec to Queens and is being developed by Hydro-Quebec and Transmission Developers. The converter station, set to begin operating in 2026, will convert 1,250 megawatts of clean energy into alternating current power for the state's grid. New York aims to have 70% of its electricity come from renewable sources by 2030.
BYD Launches Dolphin Hatch to Crack Japan’s Tricky EV Market
Bloomberg
23-09-20 01:00
Chinese automaker BYD has introduced its Dolphin electric car to the Japanese market in an effort to boost sales. The compact hatchback will be priced from JPY3.63m ($24,560) and will come in two models with different battery sizes and ranges. BYD, China's largest carmaker, has struggled to make headway in the Japanese market due to a preference for domestic brands and a focus on hybrid vehicles rather than pure electric cars. BYD plans to open 100 dealerships and showrooms in Japan by 2025 and hopes that the Dolphin will be successful in the country due to the improving quality of its vehicles and changing attitudes towards Chinese products.
The Brazilian Navy has announced that it seized 3.6 metric tons of cocaine on a boat off the coast of northeastern Pernambuco state. This is the largest single off-shore capture of cocaine by Brazil. The Navy captured a small motor boat with five crew members who were heading to Africa. This seizure is part of a series of operations by the Navy to combat drug transportation on the country's coast. Since 2020, the Navy has seized over 17 tons of cocaine, 4.3 tons of hashish, 695 tons of cigarettes, 113.34 tons of fish, 14 tons of marijuana, and 3,146 cubic meters of wood.
Peru president proposes international pact to combat El Nino effects
Reuters
23-09-20 00:02
Peruvian President Dina Boluarte has called for an international pact to address the effects of the El Nino weather phenomenon. Speaking at the United Nations General Assembly, Boluarte emphasized the need for collaboration to mitigate the impact of El Nino, which poses risks to Peru's economy and inflation.
Japan Exports Fall for Second Month as Global Demand Weakens
Bloomberg
23-09-20 00:00
Japan's exports have fallen for the second month in a row, raising concerns about the economy and its reliance on foreign demand. The value of exports fell by 0.8% in August from a year earlier, led by declines in mineral fuel and chip-making machinery. This follows the first drop in exports in over two years in the previous month. The decline in exports is worrying as consumers and businesses are cutting back on spending at home, limiting domestic drivers of growth. However, imports also fell for the fifth consecutive month, offering some respite for the country which has been hit by cost-driven inflation.
Paraguay's President, Santiago Pena, has expressed his country's support for Taiwan joining the United Nations system. Paraguay is the last South American country to have formal relations with Taiwan, which China claims as its own territory. Taiwan has been excluded from the United Nations since 1971, when a resolution recognised the People's Republic of China as the legitimate representative of China to the UN. However, Taiwan has acknowledged that achieving membership is "very hard".
Canada, Japan agree to work more closely on battery supply chains
Reuters
23-09-21 14:40
Canada and Japan have signed a memorandum of cooperation to work together on establishing sustainable and reliable global battery supply chains. Canada, which is home to a large mining sector for minerals such as lithium, nickel, and cobalt, wants to attract firms involved in all levels of the electric vehicle supply chain. The move comes as worldwide demand for cleaner forms of energy increases and Canada's critical minerals resources and battery supply chains are expected to play a vital role.
Aide says Bolsonaro floated Brazil coup with military officers after election -reports
Reuters
23-09-21 13:30
According to reports from O Globo and UOL, a close aide to former Brazilian President Jair Bolsonaro has told police that Bolsonaro and senior military officers met last year to discuss a military intervention to overturn the result of the election after he lost. The former aide, Mauro Cid, agreed to cooperate with Federal Police in their investigation into Bolsonaro for possible crimes including embezzlement and inciting the January riots in Brasilia. Cid allegedly told police that Bolsonaro had spoken with armed forces commanders about a draft decree to overturn the election. Bolsonaro's lawyers and the Federal Police declined to comment on the reports. Bolsonaro has already been banned from seeking office until 2030 by Brazil's federal electoral court.
Central banks around the world are approaching the end of their rate hiking cycles, with their outlooks diverging. The US Federal Reserve has indicated that it may raise rates again this year, while the Bank of England and the Swiss National Bank have chosen to keep rates unchanged. So far, nine developed economies have raised rates by a combined 3,965 basis points, with Japan being the only holdout.
The US is reshaping its regional alliances in Asia to counter China's growing military power and territorial claims in the South China Sea. China claims more than 80% of the South China Sea, but its claims are disputed by Vietnam, the Philippines, Brunei, Malaysia, and Taiwan. Conflicts over the disputed area have been ongoing for decades, and tensions have increased as China has reclaimed land and constructed military facilities in the Spratly archipelago. The US regularly conducts "freedom-of-navigation operations" to assert its right to travel through international waters in the region. Southeast Asian leaders are growing increasingly concerned about the potential for conflict between the US and China in their region.
Canada imposes sanctions against members of Haiti's economic elite
Reuters
23-09-21 12:18
Canada is imposing additional sanctions on members of Haiti's economic elite in response to acts of corruption. The sanctions are targeting businessmen Marc Antoine Acra, Carl Braun, and Jean-Marie Vorbe. These individuals are believed to be contributing to Haiti's ongoing humanitarian and security crisis through their involvement in corrupt practices.
Brazil top court rejects time limit on Indigenous land claims
Reuters
23-09-21 18:51
Brazil's Supreme Court has ruled against a cut-off date limiting Indigenous land claims. The restriction had been sought by the powerful farm lobby to block Indigenous rights to land that they did not live on in 1988. The court ruled that the deadline was unconstitutional, with six out of 11 justices rejecting it. Brazil has 1.6 million Indigenous people, half of whom live on ancestral lands that they say are vital for preserving their cultures and languages. Indigenous groups celebrated the court decision, which will resolve some 300 pending land recognition claims and protect communities from land-grabbers and illegal loggers.
Mexico sought 16 more military arrests over 43 missing students, president says
Reuters
23-09-21 18:08
Mexican prosecutors have requested new arrests of military officials in connection with the 2014 disappearance of 43 student teachers, President Andres Manuel Lopez Obrador announced. Sixteen new arrest warrants were sought in May, alleging that the suspects had maintained ties with organised crime and failed to prevent the students' disappearance. Last year, a judge ordered the arrest of 83 officials, but not all of the warrants were carried out. The attorney general's office did not immediately comment on the latest warrants. Only three of the students' remains have been found and identified so far.
