Brazil an agricultural powerhouse

The Brazilian Institute of Geography and Statistics (IBGE) has reduced its estimate for the country’s grain harvest in 2021 to 251.7 million tons, down 1% compared to 2020. According to a new Systematic Survey of Agricultural Production (LSPA) released on Thursday (Sept. 9), the volume is 1.7% lower compared to the previous projection. LSPA provides estimates on planted areas, harvested areas, amount

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Banks forecast stock market selloff anytime before year-end

Stocks are hovering around record highs with the S&P 500  of US shares up about 18% in 2021, the tech-heavy Nasdaq about 19% higher and the Europe-wide Stoxx 600 up 17%, but investors are expecting a pullback in stock markets of 5% to 10% before the end of the year. According to a monthly poll from Deutsche Bank conducted between 7-9 September and covering over

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India plans to impose tax on cryptocurrency trades – report

The government  in India is planning to tax cryptocurrency exchanges and trades, The Economic Times reported on Monday (Sept.13), citing sources. The cabinet is likely to discuss the bill on the proposed regulation “soon,” according to the report. Chairman of India’s Parliamentary Standing Committee on Finance Jayant Sinha on Wednesday (Sept.8) stressed that the country will take a stance on cryptocurrencies like

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Nord Stream 2 pipeline completed Gazprom says

Russian energy giant Gazprom said in a statement on Friday (Sept. 10) that the construction of the Nord Stream 2 pipeline has been fully completed. “Chairman of the Management Committee Alexei Miller said that this morning at 8.45 Moscow time (05:45 GMT) construction of the Nord Stream 2 gas pipeline was fully completed,” Gazprom said in a statement. Earlier this month, Miller announced the first gas deliveries via

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ECB takes first small step in withdrawing stimulus

The European Central Bank (ECB) announced its decision on Thursday (Sep. 9) to lightly reduce its emergency bond purchases over the coming quarter, as policymakers worry higher inflation may last long. The Governing Council decided to buy bonds under its 1.85 trillion euro Pandemic Emergency Purchase Programme (PEPP) at a pace moderately lower than the 80 billion euros a month it bought

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Russia’s international reserves top $618 billion

Russian  international gold and foreign currency reserves rose to a record high of $618.1 billion as of September 1, according to monthly data published by the Central Bank of Russia (CBR). The amount increased by 2.9% or $17.1 billion, since August 1. The previous all-time high of $615.6 billion was recorded on Aug.27, CBR said. The state’s international reserves are highly liquid

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Bauxite-rich Guinea’s coup sends aluminum prices to decade high

Guinea coup may hit global bauxite supply market analysts said, as the West African country is the world’s second-biggest producer of the raw material that is converted to alumina and then aluminum and is the top supplier to China. The coup began on Sunday (Sept. 5) when special forces detained  long-serving President Alpha Condé, and then announced on state television that the

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