Bayer on Tuesday, November 3, published every other huge loss because of steep impairment costs at its agrochemical division and elevated legal expenses over its glyphosate weed killer linked by plaintiffs to cases of cancer.
The German prescribed drugs and chemicals massive made a 3rd area internet lack of 2.7 billion euros ($3.2 billion), as compared with a profit of one.04 billion euros in the equal area final 12 months.
The outcomes had been nicely down on analyst estimates for 798 million euros in profit, consistent with the FactSet economic information provider.
Bayer's sixty three-billion-euro acquisition of United States agrochemical group Monsanto, completed in 2018, has exposed the Leverkusen-based totally agency to multibillion-euro fits over its Roundup glyphosate weedkiller, whilst it has also been hit hard by means of the coronavirus pandemic.
The organization stated it would take a non-coins impairment price of nine.3 billion euros because of "reduced increase expectancies" on numerous property in its agricultural enterprise, as COVID-19 places "additional pressure" on the unit, finance leader Wolfgang Nickl said in a declaration.
Sales fell thirteen.Five% to eight.5 billion euros.
However, the quarterly end result improves on the nine.5-billion-euro loss Bayer posted in the 2d zone, which covered provisions for greater than $10 billion (8.Five billion euros) in settlements for maximum lawsuits over Roundup introduced in June.
In the beyond, Mindanao changed into known as the us of a's "Land of Promise" because of its widespread, then surprisingly unpopulated tracts of land and nearly unharnessed coastal regions. However, with the massive migration of settlers from the islands of Luzon and the Visayas within the Nineteen Fifties as much as the Nineteen Seventies, blended with fast population boom, Mindanao's populace now stands at round 24 million. Its as soon as- plentiful natural assets, both land and sea, had been exploited to assist the wishes of its developing populace and generate sales that the island calls for to finance its development tasks.
Despite this, the improvement capacity of Mindanao is a long way from being absolutely found out.
Mindanao's contribution to the u . S . A .'s gross domestic product (GDP) is simplest round 13 percent, compared to Luzon's 70 percent. In fact, the National Capital Region (NCR) and Calabarzon's (Region 4A) contributions to GDP, which stand at round 37 percent and 15 percentage, respectively, are higher than that of Mindanao. Thus, there may be a great deal room for the improvement of the Mindanao economic system.
Within Mindanao, Region 11 (Davao) contributes the very best percentage to the gross regional home product (GRDP), that's round 30 percent, followed by using Region 10 (Northern Mindanao) at 25 percent. The Mindanao regions which have the least contribution to the island's GRDP are Caraga (around eight percentage) and Bangsamoro Autonomous Region in Muslim Mindanao (just above four percent). It isn't unexpected then that the best attention of the poorest residents in Mindanao are found in those areas.
Mindanao's agriculture
Contrary to the commonly held notion that Mindanao hasa predominantly agricultural financial system, facts display that this is no longer actual. Agriculture's percentage to Mindanao's GRDP is now down to around 18 percent, even as its industry area's proportion is 36 percent and offerings, the largest zone, is forty six percent. Mindanao's agriculture continues to be of strategic importance to the Philippine agriculture sector as it contributes a third of general agricultural gross price brought.
Mindanao brings in round 1/2 of the full harvest of corn and coconut within the united states. Its fishery subsector represents a full-size capture of the united states's fish products. It is home to agribusiness organizations that export bananas and pineapple to the world marketplace. It produces a number excessive price agricultural commodities inclusive of cacao, coffee, palm oil, rubber, veggies, sugar, cutflowers, amongst others.
A few years ago, we carried out for the World Bank a fee chain analysis of 21 agricultural commodities grown in Mindanao. The examine team was then led by now Acting Socio-Economic Secretary Karl Kendrick Chua under whom I served as chief adviser. The have a look at discovered that throughout those 21 commodities, the pinnacle three problems farmers encountered are: low farm productiveness; awful infrastructure (in particular roads) that makes it hard to move produce from the farms to the marketplace; and access to credit score for the working capital of farmers.
The German prescribed drugs and chemicals massive made a 3rd area internet lack of 2.7 billion euros ($3.2 billion), as compared with a profit of one.04 billion euros in the equal area final 12 months.
The outcomes had been nicely down on analyst estimates for 798 million euros in profit, consistent with the FactSet economic information provider.
Bayer's sixty three-billion-euro acquisition of United States agrochemical group Monsanto, completed in 2018, has exposed the Leverkusen-based totally agency to multibillion-euro fits over its Roundup glyphosate weedkiller, whilst it has also been hit hard by means of the coronavirus pandemic.
The organization stated it would take a non-coins impairment price of nine.3 billion euros because of "reduced increase expectancies" on numerous property in its agricultural enterprise, as COVID-19 places "additional pressure" on the unit, finance leader Wolfgang Nickl said in a declaration.
Sales fell thirteen.Five% to eight.5 billion euros.
However, the quarterly end result improves on the nine.5-billion-euro loss Bayer posted in the 2d zone, which covered provisions for greater than $10 billion (8.Five billion euros) in settlements for maximum lawsuits over Roundup introduced in June.
In the beyond, Mindanao changed into known as the us of a's "Land of Promise" because of its widespread, then surprisingly unpopulated tracts of land and nearly unharnessed coastal regions. However, with the massive migration of settlers from the islands of Luzon and the Visayas within the Nineteen Fifties as much as the Nineteen Seventies, blended with fast population boom, Mindanao's populace now stands at round 24 million. Its as soon as- plentiful natural assets, both land and sea, had been exploited to assist the wishes of its developing populace and generate sales that the island calls for to finance its development tasks.
Despite this, the improvement capacity of Mindanao is a long way from being absolutely found out.
Mindanao's contribution to the u . S . A .'s gross domestic product (GDP) is simplest round 13 percent, compared to Luzon's 70 percent. In fact, the National Capital Region (NCR) and Calabarzon's (Region 4A) contributions to GDP, which stand at round 37 percent and 15 percentage, respectively, are higher than that of Mindanao. Thus, there may be a great deal room for the improvement of the Mindanao economic system.
Within Mindanao, Region 11 (Davao) contributes the very best percentage to the gross regional home product (GRDP), that's round 30 percent, followed by using Region 10 (Northern Mindanao) at 25 percent. The Mindanao regions which have the least contribution to the island's GRDP are Caraga (around eight percentage) and Bangsamoro Autonomous Region in Muslim Mindanao (just above four percent). It isn't unexpected then that the best attention of the poorest residents in Mindanao are found in those areas.
Mindanao's agriculture
Contrary to the commonly held notion that Mindanao hasa predominantly agricultural financial system, facts display that this is no longer actual. Agriculture's percentage to Mindanao's GRDP is now down to around 18 percent, even as its industry area's proportion is 36 percent and offerings, the largest zone, is forty six percent. Mindanao's agriculture continues to be of strategic importance to the Philippine agriculture sector as it contributes a third of general agricultural gross price brought.
Mindanao brings in round 1/2 of the full harvest of corn and coconut within the united states. Its fishery subsector represents a full-size capture of the united states's fish products. It is home to agribusiness organizations that export bananas and pineapple to the world marketplace. It produces a number excessive price agricultural commodities inclusive of cacao, coffee, palm oil, rubber, veggies, sugar, cutflowers, amongst others.
A few years ago, we carried out for the World Bank a fee chain analysis of 21 agricultural commodities grown in Mindanao. The examine team was then led by now Acting Socio-Economic Secretary Karl Kendrick Chua under whom I served as chief adviser. The have a look at discovered that throughout those 21 commodities, the pinnacle three problems farmers encountered are: low farm productiveness; awful infrastructure (in particular roads) that makes it hard to move produce from the farms to the marketplace; and access to credit score for the working capital of farmers.
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