EMGA raises US$160m from AIIB for Brazil's BTG Pactual
The US$160 million 7-year senior unsecured loan was provided by AIIB, and the transaction follows on from several prior transactions for BTG also advised by EMGA for a cumulative US$1.1bn.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
10 minutes ago
- The Star
Roundup: Italy urges dialogue with U.S. as tariff hikes threaten blns in loss
ROME, July 14 (Xinhua) -- Italian Foreign Minister Antonio Tajani said Monday the European Union (EU) is prepared to impose billions of euros in retaliatory tariffs on U.S. goods should ongoing trade negotiations between the two sides fail to produce an agreement. In an interview published Monday by Italian daily Il Messaggero, Tajani emphasized that while the EU has the tools to defend its economic interests, dialogue remains the preferred path forward. "Tariffs hurt every side, including the U.S.," he said. "If the stock market falls, that puts the pensions and savings of Americans at risk." Tajani's remarks followed U.S. President Donald Trump's announcement on Saturday that Washington will impose a 30 percent tariff on imports from the EU and Mexico starting Aug. 1. The move marks the latest escalation in a series of tariff policies introduced by the Trump administration, even as U.S. and European officials are still working on a trade agreement. Italian Prime Minister Giorgia Meloni also voiced concern over the prospect of a transatlantic trade war, warning that such a development would harm both sides. "Our government is in close contact with the European Commission and all parties involved in the tariff negotiations," Meloni said in a statement. "A trade war within the West would make us all weaker in the face of global challenges we are addressing together. Europe has the economic strength to protect its interests and reach a fair agreement." An analysis by the Milan-based Institute for International Political Studies suggested that Italy would be among the EU countries most affected by the U.S. tariffs. Under a 30-percent duty scenario, Germany's gross domestic product (GDP) would contract by an estimated 0.5 percent compared to a no-tariff baseline, while Italy's GDP would shrink by approximately 0.36 percent. On Monday, the Association for the Development of Industry in the Mezzogiorno (SVIMEZ) released its estimate of the impact of the U.S. tariffs on Italy's exports, projecting a reduction of nearly one-fifth in export volume and a loss of 12.4 billion euros in trade once the tariffs take effect. SVIMEZ also warned of broader macroeconomic consequences, estimating a 0.5-percent reduction in Italy's GDP in 2026 and the potential loss of up to 150,000 jobs, including some 13,000 in the country's southern regions. "The repercussions would be nationwide," SVIMEZ President Luca Bianchi told Class CNBC. Italy's main agricultural organization, Coldiretti, echoed the concerns, warning that the proposed tariffs could deal "a deadly blow" to the agri-food sector. "Thirty-percent tariffs could inflict combined damages of up to 2.3 billion euros on Italian producers and U.S. consumers alike," Coldiretti said. Key agricultural exports such as cheese, wine, and processed foods would be hit hardest, the group noted. According to Coldiretti's estimates, the new duties would raise overall tariffs on Italian cheese to 45 percent, wine to 35 percent, processed tomatoes to 42 percent, stuffed pasta to 36 percent, and jams and marmalades to 42 percent. (1 euro = 1.17 U.S. dollar)
The Star
an hour ago
- The Star
ADB approves loan to boost potable water services in India's West Bengal
MANILA, July 14 (Xinhua) -- The Asian Development Bank (ADB) said on Monday it has approved a loan of 101 million U.S. dollars as additional financing to the ongoing West Bengal Drinking Water Sector Improvement Project to scale up access to drinking water services in rural West Bengal, India. The additional financing and the ongoing project demonstrated an innovative, effective, and sustainable service delivery model for rural drinking water supply in West Bengal, the Manila-based bank said in a statement. "The new financing builds on the innovative practices of the ongoing project and aims to expand access to piped water supply systems, reducing communities' reliance on contaminated groundwater sources affected by arsenic and fluoride," said ADB Urban Specialist Sourav Majumder. "It will ensure last-mile water service delivery and empower local communities, particularly women, through inclusive infrastructure and targeted capacity-building efforts," said Majumder.
Malaysia Sun
2 hours ago
- Malaysia Sun
Germany only has six Patriots left defense minister
US President Donald Trump said earlier that he was ready to supply more air defense systems to Ukraine, but the EU would have to foot the bill Germany has only six US-made Patriot air defense systems available, Defense Minister Boris Pistorius has told the Financial Times. The official added that Berlin could no longer deplete its own stocks to arm Kiev. While Ukraine has received a number of Patriot units since its conflict with Russia escalated in February of 2022, Vladimir Zelensky has been increasingly urging his Western backers to provide more recently. In an interview with the FT published on Sunday, Pistorius said that "we only have six left in Germany," revealing that two of the country's Patriot units had been lent to Poland, while another was unavailable due to maintenance or training. "That's really too few, especially considering the NATO capability goals we have to meet. We definitely can't give any more," the German defense minister stressed. Speaking to reporters on Sunday evening, US President Donald Trump indicated his readiness to supply several Patriots to Ukraine. However, he stopped short of saying whether he was talking about entire air-defense systems or just the missiles for them. "But the European Union is paying for them. We are not paying anything for them... This will be a business for us," Trump emphasized. The comment came shortly after the Pentagon reversed its decision to cut some of its military aid for Kiev. The US president has recently toughened his rhetoric toward his Russian counterpart, Vladimir Putin, accusing him of being unwilling to end the hostilities. Commenting on the Patriot system, valued at around $1 billion per battery, Trump said earlier this month that "it's a shame that we have to spend so much money" on supporting Ukraine. The Russian military claims to have destroyed some of the Western-supplied Patriot air defense systems during the course of the conflict. Moscow has consistently stressed that no amount of Western military aid to Ukraine can change the course of the conflict but only serves to prolong the bloodshed and escalate the hostilities. (
