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Brazil’s central bank cuts target rate to 14.75pc
Brazil’s central bank cuts target rate to 14.75pc
Sao Paulo, 18 March (Argus) — Brazil's central bank lowered its target rate to 14.75pc in its second meeting of 2026, in a bid to smooth out fluctuations in economic activity and boost jobs even amid the backdrop of rising global tensions. The decision to lower the rate, announced on Wednesday, follows a string of decisions to keep it unchanged at 15pc from June 2025 until now. Domestically, economic activity appears to be moderating while the labor market is showing signs of resilience, the central bank's monetary committee said. Headline and underlying inflation measures continue to soften, but still remain above the inflation target. Inflation risks are higher than usual after the US-Israeli war on Iran broke out, the committee, known as the Copom, said. In the US, Fed policymakers Wednesday, kept the target rate unchanged for a second meeting this year. The lower rate in Brazil may be the start of a cutting cycle for the year, former Copom member Sergio Goldenstein said last week. It is not a one-time adjustment despite the lack of predictability due to rising global conflicts since the start of 2026, he said. Brazil's headline inflation decelerated to an annual 3.81pc in February. Still, inflation expectations, as calculated by the bank's Focus survey, remain above target, at 4.1pc and 3.8pc for 2026 and 2027. For full-year 2025, GDP growth slowed to 2.3pc from 3.4pc in 2024 and 3.2pc in 2023, IBGE data show. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Qatar's Ras Laffan comes under attack: Update 2
Qatar's Ras Laffan comes under attack: Update 2
Adds more details. Washington, 18 March (Argus) — The Ras Laffan industrial complex sustained damage on Wednesday after a missile attack, QatarEnergy said. "Emergency response teams were deployed immediately to contain the resulting fires, as extensive damage has been caused," QatarEnergy said. All personnel have been accounted for, and no casualties have been reported, QatarEnergy said in a post on the X platform. Tehran earlier on Wednesday listed the 305,000 b/d Ras Laffan refinery in Qatar among five downstream facilities it would attack shortly in retaliation for what it described as US-Israeli strikes on Iranian gas treatment plants at the South Pars gas field. It was not immediately clear whether the refinery itself was directly attacked or sustained any damage. It also was not clear whether the 77mn t/yr Ras Laffan LNG export terminal sustained damage. Tehran also threatened strikes against the 400,000 b/d Samref refinery at Yanbu and the Sadara petrochemical complex at Jubail in Saudi Arabia, Qatar Chemical in Doha and the Al-Hosn sour gas field in Abu Dhabi. Riyadh also came under attack on Wednesday night local time. The Saudi defense ministry said it intercepted 4 ballistic missiles "... resulting in some debris falling in different areas of the capital" but without "damage or casualties, according to preliminary assessments". By Haik Gugarats and Annemarie Pettinato Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Qatar's Ras Laffan comes under attack: Update
Qatar's Ras Laffan comes under attack: Update
Updates with details throughout Washington, 18 March (Argus) — The Ras Laffan industrial complex sustained damage after a missile attack on Wednesday, QatarEnergy said. "Emergency response teams were deployed immediately to contain the resulting fires, as extensive damage has been caused," QatarEnergy said. Qatar's interior ministry attributed the attack to Iran and said that it has "gained preliminary control over the fire at Ras Laffan, with no reported injuries". Tehran earlier on Wednesday listed the 305,000 b/d Ras Laffan refinery in Qatar among five downstream facilities it said it would attack shortly in retaliation for what it described as US-Israeli strikes on Iranian gas treatment plants at the South Pars gas field. It was not immediately clear whether the refinery or the nearby 77mn t/yr LNG export terminal were directly attacked or sustained any damage. Tehran also threatened strikes against the 400,000 b/d Samref refinery at Yanbu and the Sadara petrochemical complex at Jubail in Saudi Arabia, Qatar Chemical in Doha and the Al-Hosn sour gas field in Abu Dhabi. Saudi Arabia also came under attack on Wednesday night local time, according to the Saudi defense ministry. "Part of an intercepted ballistic missile" fell near a refinery located south of Riyadh, the ministry said. It also reported intercepting drones aimed at an unnamed gas facility in the country's east. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil updates climate plan through 2035
Brazil updates climate plan through 2035
Sao Paulo, 18 March (Argus) — Brazil's government launched its updated climate plan on Tuesday, setting targets for specific sectors such as forests and transportation and proposing carbon-neutral technology roadmaps to more than halve its greenhouse gas emissions (GHG) by 2035 from 2005 levels. The previous plan was launched in 2008. Brazil has committed to reducing its GHG emissions by 59-67pc by 2035 and to achieve net-zero by 2050, according to its latest nationally determined contribution under the Paris Agreement. "There are no environmental policies without scientific evidence," Brazil's science and technology minister Luciana Santos said during an event in federal capital Brasilia to launch the plan. "We are not only reacting to disasters, we are anticipating solutions," she added. The plan draws up measures to attract climate financing in both the public and private sectors — with programs such as the Amazon fund and Eco Invest . The government expects to discuss the plan every two years and update it every four years, the environmental ministry said. The climate plan also includes eight policy routes for mitigation and another 16 for climate change adaptation, which were all approved in December, totaling 312 in all. It includes plans for adaptation measures in sectors such as agriculture, cattle raising, mining, energy and transport, among others. But some environmental groups said that the sectorial energy plan for mitigation is not ambitious enough to reach a fossil fuel phase-out. This particular plan foresees to reduce emissions in both crude and natural gas supply chains but does not provide any timeframes, while it also includes expanding the country's nuclear power generation, which would be "unnecessary" and more expensive than other power generation alternatives, climate umbrella group Observatorio do Clima's public policies coordinator Suely Araujo said. The government is working on a roadmap to phase out fossil fuels, but has not yet presented it . President Luiz Inacio Lula da Silva called for a global roadmap on the topic during a global summit days prior to the UN Cop 30 climate summit held last November in northern Brazil. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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