World

World

Merger to create first Canada-US-Mexico railroad

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A $29billion purchase of Kansas City Southern, KCS, by Canadian Pacific Railway Ltd., CP, will create a new entity called Canadian Pacific Kansas City and the first rail network connecting the three countries from Vancouver to Veracruz.

“Joining seamlessly in Kansas City, Mo., in America’s heartland, CP and KCS together will connect customers via single-network transportation offerings between points on CP’s system throughout Canada, the U.S. Midwest, and the U.S. Northeast and points on KCS’ system throughout Mexico and the South Central U.S.,” said CP and KCS in a joint statement announcing the acquisition.

By Milan Sime Martinic

Latin American projected GDP growth held back by Brazilian problems

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Projected Gross Domestic Product growth for Latin America and the Caribbean is put at 3.2% for 2021-2023, according to projections of the Inter-American Development Bank, while Brazil’s expected growth is 2.7%. When Brazil is excluded, projected growth for the Southern Cone countries–Argentina, Chile, Paraguay, and Uruguay –is 3.5%.

“Brazil has significant challenges –it needs to enact a set of pro-growth reforms, as well as adopt a fiscal policy that maintains confidence and ensures fiscal sustainability, stabilizes rising public sector debt, and gradually reduces debt levels,” said IDB’s Chief Economic Adviser Andrew Powell, speaking about the lackluster expectations for Latin America’s largest country.

By Milan Sime Martinic

Brazil becomes first country in Latin America to approve a cryptocoin-based EFT

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SAO PAOLO, Brazil – The Comissão de Valores Mobiliários do Brasil has approved blockchain investment EFTs to trade the Sao Paulo-based B3 exchange. The move follows the approval of 3 similar funds in Canada in the last months. Rio-based QR Asset Management will make its first offering of $100m for qualified investors in June.

By Milan Sime Martinic

IDP camp catches fire in Mrauk U

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YANGON, Myanmar – The Tin Nyo IDP camp in Mrauk U, Rakhine state caught fire due to negligence and 700 houses were burnt.

People from 13 villages had been displaced to the camp, with a population of 3000, in consequence of the clashes between Arakan Army and the Myanmar military in recent years.

Recently the Myanmar military declared a unilateral ceasefire with the Arakan Army, but the military had made fierce a offensive attack on the Arakan Army, causing the deaths of non-combatants.

Mrauk U was the capital of the Arakan kingdom, noted for peace and prosperity in terms of diversity, from the 15th century to the 18th century.

By Htay Win
Photo credit Narisara

Myanmar: Textile factories catch fire during the protest

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YANGON, Myanmar – Two textile factories of owned by Chinese companies in the Hlaing Tharyar industrial zone caught fire during the violent confrontation between protesters and security forces on March 14. No one has claimed responsible for that incident.

The Chinese embassy has called for the Myanmar military to undertake further measures for the security of Chinese investments and Chinese workers in Myanmar.

Due to the violent crackdown of security forces, 50 people have died and 129 others have been wounded in Yangon. Myanmar’s military declared the martial law in five townships of the Yangon area.

After declaring martial law, there internet services in Myanmar has been cut off.

Many people who work for the factories are going back to their localities. Hlaing Tharyar is a populous area due largely to migrant workers.

By Htay Win
Photo credit- Khit Thit

Prices of cars double in Argentina in just 2 years

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The Association of Automotive Dealerships in Argentina (ACARA) reported that their survey shows that the amount of money needed to buy a car has almost doubled, projecting an increase of 80% over 2018 prices by the end of 2021.

ACARA says inflation, wage delays, and rising prices for new cars make it difficult for car buyers in the country. A comparable VW costs 30% more in Argentina than it does in next-door Brazil.

By Milan Sime Martinic

China buys nearly 4 million tons of corn from the US in 4 days, in possible political move

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A purchase of 800k tons Friday topped a volume greater than 100k for the fourth time this week, resulting in interim purchases of 3.876 million tons, announced the USDA. All sales made on a single same day to the same destination with volumes over 100k tons are required to be reported to the department.

It may not be what it seems, however. “Recent purchases, of almost 4 million tons, may have a more political than commercial motivation, since of the total already committed on behalf of China in the USA– 23.6 million tons–only 7.8 million tons have been loaded so far, suggesting that their need for corn would not be an emergency or immediate,” say analysts at Agrinvest Commodities.

Corn prices have declined in recent years despite deals with China, which is expected to become the world’s largest corn importer due to its increasing purchases of the animal feed after storms and drought damaged their local supply. While farm bankruptcies have been on the increase, up 25% in 2019 alone, and with the debt-to-asset ratio for farms steadily increasing for the past 15 years, the recent large purchases of corn are driving up corn prices globally, and may even contribute to food inflation in some economies.

By Milan Sime Martinic

Peru’s ex-president Vizcarra to avoid prison, for now; only second president since 1985 to do so

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After being impeached for “moral incapacity” last November, Peru’s attorney general asked for 18 months of preventative prison while Martín Vizcarra is investigated for corruption charges, but a judge this week ruled he can remain free during the investigation, with certain restrictions such as no travel outside his home area and having to appear in court when required.

The country has a political system that has been described as cannibalistic, which has devoured the ambitions of those who achieved its highest political office and set up an amazing President-to-prison conveyor that has ensnared all but one of its presidents since 1985. Persecution, prosecution, prison–Peru is one of the most frequent presidential impeachers of all countries on Earth.

Vizcarra, who was president since 2018, has had 21 of his properties seized by the country’s attorney general office to guarantee eventual payment of reparations that may be ordered by the courts, said the AG’s office as it announced it will appeal the ruling.

By Milan Sime Martinic

Uproar after Bolivian congressmen given gift of ‘Viagra’ for Father’s Day

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Male members of the Bolivian lower house of congress received a packet of generic Sildenafil, the main ingredient in the ED pill Viagra, as they entered Congress Thursday, an early gift anticipating Bolivian Father’s Day Friday. It is believed the gift came from the MAS ruling party.

Opposition congresswoman Samantha Nogales called the gift “unacceptable, and a highly machista act,” while Senator Andrea Barrientos denounced the act in a tweet, “In times when we should speak of joint responsibility of care, of equity, of stability, public resources are spent on Viagra. A shame.”

The pills were wrapped in a crafts-tie made of construction paper which many of the men hung around their necks. Other congressmen, however, said they felt insulted, calling for an investigation of the use of funds.

By Milan Sime Martinic

Immigrants climb 30-foot Trump-built border wall and suffer serious injuries, some charge CBP ignores the hurt and returns them to Mexico without treatment

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A pregnant woman who fell off the wall west of El Paso died last year, and Border Patrol, CBP, takes many badly injured people to clinics near the border, reported the Texas Standard, but their report also interviewed several people who were sent back across the border in trauma without medical treatment. It is negligence, charged Pastor Rosalio Sosa, a director of Mexican shelters helping the injured immigrants. “They just pick them up and send them over here. No wheelchair, nothing. Not even a Tylenol.”

When it is apparent that someone is hurt we will administer first aid and request assistance as needed,” responded El Paso Sector CBP Chief Gloria Chavez in an email to Texas Standard.

Fall trauma ranges from multiple leg fractures, broken ankles, hips, pelvises, ribs, and “a good number of spinal injures,” according to the director of Annunciation House, an organization that provides temporary shelter for migrants and refugees in El Paso,

CBP’s own standards on transport and detention say, “Any observed or reported injury or illness must be reported, and appropriate medical care must be provided or sought in a timely manner.” CBP says they have no record the immigrants were injured when they were expelled back to Mexico.

By Milan Sime Martinic