Classic Layout

Temer gives Brazil states billions of relief on debt payment

  Bloomberg Brazil’s government says it struck a deal with state treasuries that’s designed to alleviate their fiscal crises without placing too much of a burden on federal coffers. The deal on the 427 billion reais ($126 billion) that states owe the federal government was reached in a meeting between Acting President Michel Temer and governors on Monday. It will ...

Read More »

Brazil ships corn to US amid supply crunch

  Bloomberg Corn from Brazil is heading to the U.S., the world’s biggest exporter, just as the South American country grapples with a shortfall of the grain. The vessel, Samsun, is estimated to arrive Aug. 12 at port in Wilmington, North Carolina, an area with many poultry and hog operations, according to a sailing schedule from the state’s port authority. ...

Read More »

Record sugar prices fail to lure Brazil millers to boost output

  Bloomberg Sugar prices in Brazil, the world’s biggest producer and exporter, have surged to a record, but that’s not enough to entice processors to increase investment, Louis Dreyfus Commodities Co.’s sugar unit says. While making the sweetener has become profitable again, companies are still reluctant to boost capacity as many still struggle with a debt hangover from the previous ...

Read More »

Can Sri Lanka leverage its location as Indian Ocean hub?

  Anushka Wijesinha SPECIAL TO EMIRATES BUSINESS Sri Lanka is in an enviable location. The busy East-West shipping route passes just six to ten nautical miles south of the island. More than 60,000 ships ply this route annually, carrying two-thirds of the world’s oil and half of all container shipments. Sri Lanka is also at the doorstep of a dynamic ...

Read More »

Artificial Intelligence has mastered painting

An iOS app called Prisma has been taking 10 post-Soviet nations by storm, reaching the No. 1 spot in app stores in record time. At first glance, the software does nothing special: It’s a collection of image filters that make photos look like paintings. But the technology is far more complex and troubling: It uses artificial intelligence to completely “repaint” ...

Read More »

Drop the UK panic talk and protect global markets

  The doomsday narrative of British Prime Minister David Cameron, the Bank of England and their official friends around the world is setting a course for a self-fulfilling financial panic. They insist that the British economy will be permanently poorer and global markets will be roiled if the British public votes to leave the European Union in a referendum on ...

Read More »

Bahrain investments surge to $110 million

  Manama / TNS Bahrain has attracted $110 million in investments and created 1,200 jobs since the beginning of the year, a top official has revealed. However, the aim is to attract double that amount by the end of the year, said Economic Development Board chief executive Khalid Al Rumaihi. “We think we’ll achieve that,” he said at a media ...

Read More »

Athletes who give ‘power’ kicks

  Rio de Janeiro / DPA The Morro da Mineira favela (slum) in Rio de Janeiro holds a striking number of turquoise houses: you can see them from afar, like boxes piled up on the hill, all of them turquoise. The story goes that a well-known drug lord hid in this poor neighbourhood near the Sambadrome, in central Rio. Police ...

Read More »
Send this to a friend