From Breakingviews: Russia is joining the fight against COVID-19 with antiviral drug Avifavir. But the tests are only preliminary, and the country faces mounting virus-related risks
Soybean plantation is seen in Rio Verde, Goias state, Brazil January 31, 2019. REUTERS/Jose Roberto GomesGLIMMER OF HOPE. Russia is joining the fight against Covid-19. The country’s ministry of health has approved the use of antiviral drug Avifavir, a generic version of Fujifilm’s Avigan, funded by the country’s sovereign wealth fund Russian Direct Investment Fund alongside pharma group ChemRar. Some 60,000 doses will be made available in June.
HILL OF BEANS. China is telling state-owned firms to halt purchases of some U.S. agricultural products, including soybeans, according to Reuters, after the Trump administration said it would start the process of ending the country’s special relationship with Hong Kong. One short-term beneficiary of this may be soybean mega-exporter Brazil. It’s struggling mightily as it reports the world’s second-highest number of cases of the new coronavirus. Trade tensions between global powers aren’t great, in general, for risky emerging markets. If China shifts some of its purchases to Brazilian farmers, the country may get a much needed, if fleeting, shot in the arm.
The commission is also toying with a carbon tax, a levy on plastics and taxing tech companies. But the corporate levy is broader. According to the Financial Times, it would charge 70,000 big companies an annual lump sum payment for using the single market. The notion of an extra EU-wide charge is bound to face fierce resistance from low-tax countries like Ireland, not to mention the companies themselves. Still, it’s another sign that lockdowns will be followed by new levies.
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