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☆ Brazil's economy enters negative territory in Q3, shows central bank data
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Nov 17 (Reuters) - The Brazilian economy ended the third quarter in negative territory, central bank data showed on Friday, reversing a performance that had been surprisingly positive due to a booming farming sector. The IBC-Br index, a key predictor of gross domestic product (GDP), posted a seasonally adjusted 0.64% decline in the third quarter. The Finance Ministry last estimated a 3.2% gross domestic product (GDP) growth for this year after a robust first-half performance, a figure expected to be revised next week. Meanwhile, private economists surveyed weekly by the central bank project a 2.89% increase in GDP for this year. The September IBC-Br index was in line with a negative performance of the service sector, which accounts for roughly 70% of the country's activity, said Nova Futura economist Nicolas Borsoi.

Persons: Fernando Haddad, Nicolas Borsoi, Luiz Inacio Lula da Silva's, Marcela Ayres, Steven Grattan Organizations: IBC, Reuters, Finance, Finance Ministry, Nova Futura, Thomson Locations: BRASILIA, Brazilian

☆ Battery maker IBC to set up plant in India's Karnataka for nearly $1 bln
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - International Battery Company (IBC) has signed an investment pact worth 80 billion rupees ($971.89 million) with India's southern state of Karnataka to build a battery manufacturing facility, the state's minister said on Tuesday. The manufacturing facility will be spread across 100 acres in the state, Minister for Commerce & Industries, Infrastructure MB Patil said in a post on messaging platform X.Bloomberg News reported on Tuesday that the company would manufacture lithium-ion cells at the facility. IBC plans to begin production by 2025, Bloomberg News reported, citing Gunjan Krishna, commissioner at Karnataka's Industries and Commerce Department, adding that the private company is aiming to ramp up capacity to 10 gigawatt by 2028. The company, which met state government officials in June, had then expressed an interest in investing on battery production in Karnataka, Patil had said in a post in June. ($1 = 82.3140 Indian rupees)Reporting by Anirudh Saligrama in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gunjan Krishna, Patil, Anirudh, Shailesh Organizations: International Battery Company, Commerce & Industries, Patil, Bloomberg, IBC, Bloomberg News, Karnataka's Industries, Commerce Department, Thomson Locations: Karnataka, Bengaluru

The government is aiming to reach 2 million sales of electric motorbike in 2025 as the Indonesia attracts billion of dollars of investment in processing its rich nickel reserves into battery materials. Indonesia sold less than 40,000 electric motorbikes between 2019 and 2022, while its total motorbike sales in 2022 alone were 5.22 million units, industry data showed. Now their (annual) electric motorbike sales have reached more than 30 million," he said. Indonesia's government is targeting as much as 300,000 units of electric motorbike sales for 2023. The plant would have 10 Gigawatt hour capacity which would be enough to power 200,000 electric cars or up to 2.5 million electric scooters.

☆ Investments in Indonesia's nickel industry
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +4 min

Here are some of the major investment deals involving nickel in Indonesia:Jan. 2020: Indonesia bans exports of unprocessed nickel to attract investment in downstream processing. Dec. 2020: Indonesia's investment ministry signs an MOU with LG Energy Solution (373220.KS) on integrated EV battery investment with total investment of $9.8 billion. 2021: Indonesia establishes the Indonesia Battery Corporation (IBC), a joint venture of state owned enterprises to cooperate with foreign investors in developing an EV battery supply chain. Jan. 2022: Indonesia's Investment Ministry signs an MoU with Foxconn (2317.TW), Gogoro Inc, IBC and Indika Energy (INDY.JK) for investment in electric vehicle and battery development. Sept 2022: Vale Indonesia signs an agreement with Zhejiang Huayou to build a second plant to produce nickel MHP with 60,000 tonnes capacity.

Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

☆ After Fiona, climate experts urge Canada to fix flagship adaptation strategy
▼ + stars: | 2022-09-28 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Sept 28 (Reuters) - Canada's first national climate adaptation strategy needs to be improved to include near-term targets and specific solutions ahead of its November release to mitigate worsening global warming impacts, experts advising the government told Reuters in the wake of devastation caused by storm Fiona. The destruction comes weeks before Ottawa releases its first ever National Adaptation Strategy (NAS) in early November. A 2020 report from the Federation of Canadian Municipalities estimated Canada needs to spend C$5.3 billion a year to adapt to climate change but the country is at least a decade behind Europe in developing a national strategy, experts said. Britain released its first national adaptation program in 2013, with five-year targets, and is currently developing a third version. "Our first adaptation strategy needs to be a home run," said Ryan Ness, adaptation research director for the Canadian Climate Institute (CCI).

Today, there are 56 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated on June 30, 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

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