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Petrobras sells ethanol stake to sugar maker Tereos

Petrobras Biocombustível has announced an agreement to sell its shares in Guarani, a Brazilian sugar and ethanol producer, to Tereos Participations, an arm of French group Tereos, for $202 million (€192m). According to Petrobras Biocombustível, a wholly-owned subsidiary of Brazil-based oil company Petrobras, Guarani is the third largest sugar producer in Brazil. It operates eight…
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China Nov sugar imports down 48.0 pct y/y at 140,000 tonnes – customs

China imported 140,000 tonnes of sugar in November, down 48 percent from a year ago, as firmer global prices hurt purchases, customs data showed on Wednesday. China, the world's largest sugar consumer, has been buying less from overseas markets as global supplies tighten. Benchmark prices shot to nearly 24 cents a pound in early October, more than double the levels in the third quarter of 2015,…
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What Castro’s death and Trump’s election mean for Cuba’s economic awakening

Before his death on Nov. 25 at the age of 90, Fidel Castro had made no secret about his reservations about the normalization of relations with the United States and had insisted that the ideals of the Cuban Revolution would never be abandoned. So following his death it is natural to wonder if the economic reforms initiated by his brother, Raúl Castro, will accelerate or what else might…
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