By Nancy Lapid
July 14 (Reuters) &#8211; Here is a roundup of some of the latest scientific studies on the novel coronavirus and efforts to find treatments and vaccines for COVID-19, the illness caused by the virus.

Lung diseases worsen COVID-19 by altering airway genes
New findings shed light on why chronic lung diseases that block the airways &#8211; such as chronic bronchitis, emphysema and pulmonary fibrosis &#8211; increase patients&#8217; risks for severe COVID-19. The diseases cause genetic changes in the epithelial cells that line the airways, making the cells more vulnerable to attack from the coronavirus, researchers reported on Wednesday in Nature Communications https://go.nature.com/3kmjsYy. Laboratory studies of these cells found changes in their molecular makeup that likely make it easier for the virus to enter the body, make copies of itself, and trigger out-of-control immune responses that fill the lungs with fluid and cause severe organ damage. The researchers, led by Nicholas Banovich at Translational Genomics Research Institute in Phoenix, were only able to examine cells from lung-disease patients without COVID-19 but said their &#8220;study highlights crucial areas for future research.&#8221;

Anemia linked with rehospitalization
Anemia, a blood disorder characterized by a low red blood cell count, should probably be added to the list of risk factors for poorer COVID-19 outcomes, according to researchers who studied 374 COVID-19 survivors who were hospitalized and then released, with tests showing the virus was gone from their systems. They found that 104 patients needed to be rehospitalized, and rates of moderate or severe anemia (as indicated by levels of hemoglobin, a protein in red blood cells that carries oxygen) were higher among the readmitted patients in the year before their COVID-19 diagnosis and while they were sick with the coronavirus. The study, published in iScience https://bit.ly/3wHhHaO, cannot prove that anemia caused or contributed to the readmissions. Still, the research team from data analytics company nference in Cambridge, Massachusetts said the &#8220;robust association&#8221; of anemia with rehospitalization calls for research into whether anemia treatments might be beneficial in some cases.

Heart problems unlikely after mild COVID-19
Survivors of mild cases of COVID-19 do not need to be screened later for heart problems, researchers advise. They performed cardiovascular magnetic resonance imaging on 74 healthcare workers who had recovered six months earlier from mild or asymptomatic coronavirus infections, and on 75 uninfected individuals matched for age, sex, and ethnicity. According to a report published on Tuesday in European Heart Journal: Cardiovascular Imaging ttps://bit.ly/2U9Brqx, there were no differences between the survivor group and the control group in any parameters of heart structure or function or in lab tests that would suggest heart disease. The researchers, led by George Joy of Barts Heart Center in London, conclude, &#8220;Our study provides societal reassurance for the cardiovascular health of working-aged individuals with convalescence from mild SARS-CoV-2. Screening asymptomatic individuals following mild diseases is not indicated.&#8221;
Variants causing more severe COVID-19 in Canada
The Alpha, Beta and Gamma variants of the novel coronavirus increased patients&#8217; risks of hospitalization and death by 60% compared to earlier forms of the virus, and the Delta variant was even more virulent, according to researchers who studied more than 211,000 patients in Canada diagnosed with COVID-19 between February and June 2021. Alpha, Beta and Gamma &#8211; first seen in the UK, South Africa and Brazil &#8211; more than doubled the risk of needing intensive care, even though the patients were generally younger and healthier than those infected earlier in the pandemic. With the Delta variant, first identified in India and now becoming dominant in many countries, &#8220;risks of hospitalization and death more than doubled, and risk of ICU admission more than tripled&#8221; compared to earlier SARS-CoV-2 strains, said Dr. David Fisman of the University of Toronto, who coauthored a report posted on Monday on medRxiv https://bit.ly/3egxgjs ahead of peer review. He told Reuters his team did find an overall downward trend in disease severity over time, likely because of vaccinations.
Click for a Reuters graphic https://tmsnrt.rs/3c7R3Bl on vaccines in development.
(Reporting by Nancy Lapid; Editing by Tiffany Wu)
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COVID SCIENCE-Lung disease weakens cells for virus attack; anemia tied to readmission

* Latam FX rise as dollar slip after Powell stays dovish * Brazil&#8217;s real jumps 1.9% * Chile&#8217;s peso up, 25 bps hike expected * America Movil jumps as Q2 profit more than doubles (Updates prices, adds reaction after Powell&#8217;s speech) By Ambar Warrick and Susan Mathew July 14 (Reuters) &#8211; Brazil&#8217;s real shot up 2% on Wednesday after a significant upgrade to the country&#8217;s economic growth forecast, while Chile&#8217;s peso rose as investors penciled in a possible rate hike by the central bank later in the day. Most other Latin American currencies also rallied strongly as the dollar slumped after U.S. Federal Reserve Chair Jerome Powell held his dovish stance, alleviating fears that rising inflation could see the Fed bring forward policy tightening. The real last traded at 5.077 to the dollar. Brazil&#8217;s economy ministry said the country&#8217;s GDP was expected to grow 5.3% in 2021, far more than a previous forecast of 3.5%. It added that the country hoped to raise 100 billion reais ($19.64 billion) with a much-awaited income tax reform proposal. The new forecast supports market expectations of improving growth in Latin America&#8217;s largest economy, which have also helped the real weather political noise from a growing corruption scandal. Chile&#8217;s peso added 0.4%, with investors expecting a 25 basis point rate hike by the bank to 0.75%, given some hawkish commentary from the minutes of the bank&#8217;s last meeting. With inflation also on the rise, many expect the bank to step in and curb any further price pressures. Increasing economic growth expectations for the country have also reduced the need for overly accommodative policy. Tighter policy has become a common trend across emerging markets this year, with inflation picking up on reopening momentum. But for EM bonds, Tina Vandersteel, head of emerging country debt at GMO, sees rising inflation as an overall &#8220;benign&#8221; risk given hawkish central banks. She sees Mexico, Turkey, and South Africa as holding opportunity in sovereign debt. Mexico&#8217;s peso added 1%, while Colombia&#8217;s peso rose 0.8%, despite tumbling oil prices. Mexico&#8217;s peso was recovering from steep losses triggered by fears of government interference in the country&#8217;s energy sector. The country also recorded its biggest increase in new COVID-19 infections since February. &#8220;In the medium to longer term, we see MXN appreciation potential limited by the fragile economy and subdued growth prospects due to a lack of investment,&#8221; said Elisabeth Andreae, FX and EM analyst at Commerzbank. Mexican stocks gained on the day, with telecommunications giant America Movil jumping 6% after its said its second quarter net profit more than doubled. Colombia will seek to raise nearly $4 billion through a new tax reform measure to be proposed to Congress, Finance Minister Jose Manuel Restrepo said on Tuesday. Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging Markets 1339.33 -0.01 MSCI LatAm 2604.50 1.41 Brazil Bovespa 128315.80 0.12 Mexico IPC 49440.44 0.34 Chile IPSA 4158.69 -0.95 Argentina MerVal 64149.35 -0.35 Colombia COLCAP 1285.43 -0.64 Currencies Latest Daily % change Brazil real 5.0771 2.04 Mexico peso 19.8651 0.95 Chile peso 746.9 0.33 Colombia peso 3790 0.77 Peru sol 3.9543 0.55 Argentina peso 96.1500 -0.02 (interbank) (Reporting by Ambar Warrick Editing by Marguerita Choy) 
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EMERGING MARKETS-Brazil’s real jumps 2% lifted by growth prospects, Chile rate hike on tap

CAIRO, July 14 (Reuters) &#8211; A surge of coronavirus cases in several Middle Eastern countries could have dire consequences, aggravated by the spread of the Delta variant and low vaccine availability, the World Health Organisation said on Wednesday.
After a decline in cases and deaths in the WHO&#8217;s Eastern Mediterranean region for eight weeks, the agency said there had been significant increases in cases in Libya, Iran, Iraq and Tunisia, with sharp rises expected in Lebanon and Morocco. (Graphic on global cases and deaths) https://tmsnrt.rs/34pvUyi
Next week countries across the region will mark the Muslim Eid al-Adha holiday, which traditionally includes religious and social gatherings where infections could spread.
&#8220;WHO is concerned that the current COVID-19 upsurge may continue to peak in the coming weeks, with catastrophic consequences,&#8221; the agency&#8217;s regional office said in a statement.
A lack of adherence to public health and social measures and &#8220;increasing complacency by communities&#8221;, as well as low vaccination rates and the spread of new variants, were to blame, the WHO said. (Graphic on global vaccinations) https://tmsnrt.rs/34pvUyi
The agency highlighted Tunisia as the country with the highest coronavirus mortality rate per capita in the region and in Africa, and noted that daily cases had almost doubled in Iran over four weeks to early July.
Overall, the number of reported COVID-19 cases in the Eastern Mediterranean region, which includes Pakistan, Afghanistan, Somalia and Djibouti as well as Middle Eastern states, had surpassed 11.4 million, the statement said.
More than 223,000 deaths had been reported, it added.

(Reporting by Nafisa Eltahir Editing by Aidan Lewis and Lisa Shumaker)
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Risk of ‘catastrophic’ coronavirus surge in Middle East- WHO

SOUTH AFRICA MINISTER IN PRESIDENCY SAYS GOVERNMENT WORKING WITH CONSUMER COUNCIL TO ENSURE FOOD SECURITY
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SOUTH AFRICA MINISTER IN PRESIDENCY SAYS GOVERNMENT WORKING WITH CONSUMER COUNCIL TO ENSURE FOOD SECURITY

By Alexander Winning
JOHANNESBURG, July 14 (Reuters) &#8211; Days of riots and looting in South Africa have left more than 70 people dead, hurt thousands of businesses and damaged major infrastructure in some of the worst civil unrest https://www.reuters.com/world/africa/south-african-crowds-rampage-overnight-defying-calls-end-violence-looting-2021-07-14 since the end of white minority rule in 1994.
What is driving the violence?

ZUMA&#8217;S JAILING
The unrest started after former President Jacob Zuma handed himself over last week to start a 15-month prison sentence for contempt of court.
Zuma supporters, who believe he is the victim of a political witch-hunt, burned tyres and blocked roads in his home province of KwaZulu-Natal.
Support for Zuma stems partly from his image as a man of the people during his nine years in power until 2018, and because some see his jailing as an attack on the nation&#8217;s largest ethnic group, the Zulu.
Although many wealthy and middle-class South Africans were overjoyed when Zuma was ousted after multiple sleaze and graft allegations, he still retains loyal followings in KwaZulu-Natal and some poor, rural areas.
His support among the population mirrors a division within the governing African National Congress (ANC), where a pro-Zuma faction opposes his successor President Cyril Ramaphosa.

POVERTY, INEQUALITY
The hardship that persists 27 years after the end of apartheid is a major reason why hundreds of shops and dozens of malls have been stripped bare.
Statistics agency data show roughly half of the country&#8217;s 35 million adults live below the poverty line and that young people are disproportionately affected by unemployment.
South Africa has one of the highest levels of inequality in the world according to the commonly-used Gini index, with a &#8220;dual economy&#8221; catering to a small, largely white elite and large, mainly black majority.
Moves by the ANC, which has governed since the start of democratic rule, to redistribute land and wealth have progressed slowly.

COVID-19
COVID-19 has exacerbated poverty, with a recent survey showing a sharp increase in hunger.
Official unemployment hit a record high above 32% in the first three months of 2021.
Although the government increased social grants to cushion the pandemic, it cannot afford to match the costly furlough schemes of wealthier nations.

CRIMINAL ELEMENTS
Police say some criminals have been taking advantage of anger over Zuma&#8217;s imprisonment to steal and cause destruction. So far more than 1,200 people have been arrested.

INFLAMMATORY MESSAGES
People are fanning the violence with inflammatory comments and social media posts, security officials say.
Two people drawing criticism are a spokesman for Zuma&#8217;s charitable foundation, Mzwanele Manyi, who attributed some early acts of violence to &#8220;righteous anger&#8221;, and Zuma&#8217;s daughter Duduzile.
Manyi told Reuters the violence could have been avoided and that the manner in which 79-year-old Zuma was jailed reminded people of the apartheid days.
An account bearing Duduzile&#8217;s name has repeatedly posted images and videos of protests and violence on Twitter with the rallying cry &#8220;Amandla!&#8221; (Power!) used during the liberation struggle. Reuters has not been able to reach her to verify she posted those messages.
The ANC has said it is concerned by the tweets and that party member Duduzile will have to explain herself.
(Reporting by Alexander Winning; Editing by Tim Cocks and Andrew Cawthorne)
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EXPLAINER-Why violence is engulfing South Africa

* U.S. look at cross-border migration threats due in August
* Advocacy group pushes for new protections for climate migrants
* Republican pushback likely against proposed changes
By David Sherfinski
WASHINGTON, July 14 (Thomson Reuters Foundation) &#8211; As U.S. President Joe Biden prepares to tackle the thorny issue of cross-border migration related to climate change, he is set to run headlong into political and legal realities, analysts warned this week.
Biden&#8217;s national security team has been tasked with reporting back to him on climate-related migration threats by early August. The issue has taken on new urgency amid reports of surging heat deaths in Arizona among illegal migrants arriving from Mexico.
But House Republicans have staunchly warned they will not back major changes to existing migrant rules, arguing tighter immigration controls have made the country safer.
Currently migrants who flee their homes and countries as a result of climate change have no international legal status &#8211; something the president and other world leaders need to address as climate impacts strengthen, refugee advocates said.
In a report released Wednesday, Refugees International recommended the administration consider new legal protections for cross-border migrants fleeing climate pressures, as well as more financial assistance to help them remain at home.
The report urges &#8220;the administration to aim high at a time when the politics generally and politics around this issue often force decision-makers to aim not so high,” said Eric Schwartz, president of the non-profit group, which advocates for displaced populations.
The group&#8217;s task force, made up of more than a dozen non-profit leaders, former government officials and other experts, recommended the U.S. government recognize that climate-driven migrants may be entitled to protection under international refugee law.
They also urged the administration and Congress to write special climate accommodations into U.S. refugee and asylum laws.

LACK OF POLICY
The recommendations amount to uncharted territory for the United States and much of the world, analysts said.
Neither international nor U.S. refugee laws recognize environmental or climate pressures as valid reasons for migrants to claim refugee status because of grave dangers to their lives or to their freedoms in their home country.
Judging whether someone left home largely because of climate impacts is also difficult, as many migrants are driven by a range of pressures &#8211; though that may change as future sea level rise, heat or other pressures make parts of the world uninhabitable, climate experts say.
“I think the Biden administration has unlimited opportunity to change, essentially, the game around climate change migration and displacement issues,” said Kayly Ober who directed the Refugees International task force.
The task force said Biden&#8217;s team should consider climate change threats when making decisions on shielding migrants from deportation and look at expanding the use of visas to respond to climate-related migration pressures.
The administration also should boost funding for international efforts to adapt to climate change, and assist other countries in crafting their own internal displacement and relocation policies, it said.
“I don’t discount the fact that these issues can be politically charged – they can be. But that doesn’t mean we should flee from sensible policy proposals,” Schwartz told the Thomson Reuters Foundation.
As the August deadline approaches, a senior Biden administration official told the Thomson Reuters Foundation a “thorough review” was underway of whether new legal protections for migrants might be necessary, but said it was premature to comment until the report is finished.
Biden has made clear through several executive orders that &#8220;climate considerations are an essential element of United States foreign policy and national security, and an area in which the United States intends to be a global leader,” the official said, noting they were not authorized to talk on the record.
As the administration has struggled to contain a surge of migrants venturing across the U.S.-Mexico border, officials have not shied away from making a connection between climate change and migration.
Vice President Kamala Harris, who is helping lead an examination of root causes of migration to the United States, said in a May speech that a “lack of climate adaptation and climate resilience” were key drivers of migration from Central America.

REPUBLICAN PUSHBACK
But policy shifts as far-reaching as expanding refugee protections to accommodate climate migrants will meet stiff opposition from Republicans in Congress.
They say stricter refugee and asylum policies under former U.S. President Donald Trump made the country safer.
“The Biden Administration must not seek to expand this definition through administrative action, nor should it participate in the attempts by certain activist groups to expand the traditional and legal understanding of ‘refugee,’” more than two dozen House Republicans wrote in a February letter.
Ober acknowledged that changes requiring congressional support would be politically tricky.
“There may be limitations to that politically right now, but I think it’s important to at least set the goal that we should all kind of be steering towards,” she said.
Worldwide, climate displacement within national borders has been a more pressing concern than cross-border issues.
The World Bank has estimated that unchecked climate change could cause more than 140 million people to move within their countries&#8217; borders by 2050 in sub-Saharan Africa, South Asia and Latin America.
The European Union has been closely examining climate-driven cross-border migration, but most wealthy countries have been slow to enact specific protections for people who are displaced by environmental pressures.
The Biden administration has a chance to take a leading role in shifting that, said Taylor Dimsdale with E3G, a climate change-focused think tank.
“It’s a material difference just to recognize and acknowledge the problem that climate change has a role to play in displacement and migration,” said Dimsdale, director of the group&#8217;s risk and resilience program.

(Reporting by David Sherfinski. Editing by Laurie Goering. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)
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ANALYSIS-As climate change spurs migration, Biden urged to weigh new protections

SANDWICH, England, July 14 (Reuters) &#8211; It has been a decade since Lee Westwood was at the top of his game and the world rankings but the Englishman sees no reason why he cannot find the missing pieces of the puzzle to become a first-time major champion at this week&#8217;s British Open.
After sinking to 125th in the world rankings in 2018, Westwood found a second wind to his career when he won his first title in four years at the Nedbank Challenge in South Africa.
Since then, Westwood won again in Abu Dhabi and was crowned the European Tour&#8217;s order of merit winner in 2020 and remains a shoo-in for a place in Europe&#8217;s Ryder Cup team.
Having briefly topped the leaderboard before finishing tied-35th at the Scottish Open last weekend, Westwood believes his game is in a good place heading into the final major championship of the year starting Thursday.
&#8220;Coming into this week, I&#8217;ve played here twice in the Open Championship, missed the cut both times,&#8221; Westwood, 48, told a news conference on Wednesday.
&#8220;I had it in my head a bit of a mental block that I didn&#8217;t like the golf course, but played it yesterday and really enjoyed it and loved the way it was set up.
&#8220;I&#8217;m positive and hoping I can find some form and get into contention. Like all links tournaments, you need a little bit of luck with the weather, and like golf, you need a little bit of luck, you need some good breaks.&#8221;
At the age of 50, Phil Mickelson became the oldest man to win a major title at the U.S. PGA Championship in May.
Westwood said it was a reminder to the rest of the veterans on the field that a golfer&#8217;s prime can be extended, thanks to the advances in sports science.
&#8220;My generation, mine and Phil&#8217;s generation, are now reaping the benefits of the hard work for the last 20 years, analysing movements in the swing and working on injury prevention to those parts of the body that get injured,&#8221; Westwood added.
Westwood has featured in every edition of the British Open since his debut in 1995 and will break the record for major appearances without winning one if he fails on his 88th attempt at Royal St George&#8217;s.
&#8220;That&#8217;s nice, that record,&#8221; Westwood said. &#8220;It shows I&#8217;ve been a good player for a long, long time. There&#8217;s not many people who have played in as many major championships as me.&#8221; (Reporting by Hardik Vyas in Bengaluru Editing by Christian Radnedge)
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Golf-Westwood confident of breaking major duck at British Open

CAPE TOWN, July 14 (Reuters) &#8211; Maersk has shut down all its depots, warehouses and cold stores in Durban and Johannesburg, a company spokeswoman said on Wednesday, as looting in the two South African cities bearing the brunt of rampaging crowds continued.
&#8220;The port of Durban has had many of the terminals shut over the last 24 hours, however at this stage we have not triggered any contingencies that will cause ships not to call at Durban,&#8221; Kerry Rosser, the company&#8217;s Africa spokeswoman, told Reuters.
(Reporting by Wendell Roelf Editing by Alexander Winning)
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Maersk shuts down key South Africa operations as looting continues

By Kim Harrisberg
JOHANNESBURG, July 14 (Thomson Reuters Foundation) &#8211; As looters ran through the streets of Johannesburg, South African grandmother Evelyne turned off her lights, stood by her window and carefully lifted her curtain, surveying the chaos as gunshots and screams filled the night air.
The 72-year-old was guarding her property, but she was also gathering information to share with her neighbourhood watch team, made up of a few male patrollers and about a dozen grandmothers in the inner city&#8217;s Bertrams neighbourhood.
&#8220;I was scared to go outside, but I heard that there were gunshots coming from a nearby shop and groups of men running through the streets,&#8221; said Evelyne, who relayed her observations to her team who then alerted police.
&#8220;One man tried to jump over my wall but I shouted through the window and he ran away,&#8221; Evelyne, whose full name is being withheld to protect her identity, told the Thomson Reuters Foundation.
South Africa&#8217;s worst violence in years broke out after last week&#8217;s arrest of former president, Jacob Zuma, with soldiers deployed to stop crowds looting everything from washing machines to fridges and groceries.
The unrest comes at a time of frustration with COVID-19 restrictions, government corruption scandals and inequality that persists 27 years after the end of white minority rule, with unemployment hitting a new high of 32.6% this year.
One of the most unequal countries in the world, South Africa saw its highest murder rate in a decade in 2020, with 21,000 homicides, or 58 a day, a figure five times higher than the global average, according to government statistics.
Residents say rising unemployment fuels drug use and crime, as more than a year of COVID-19 lockdowns has triggered major job losses, particularly in construction, the informal sector and private homes.
The grandmother lookout team &#8211; who generally patrol from the safety of their patios &#8211; have become more valuable than ever, said Thomas Makama, founder of the neighbourhood watch scheme.
&#8220;About two shops were looted, but we managed to stop up to 10 shops from being attacked because we were on the lookout and called police for urgent backup,&#8221; said Makama, who called and visited the grandmothers to gather information.
&#8220;It&#8217;s dangerous work,&#8221; said 61-year-old Makama, who never carries a weapon and relies on his people skills to engage with criminals and police and dissipate danger.
EXTRA EYES
Makama founded the Bertrams Residents Movement in 2015, after the community helped him get back his home when he was evicted and forced on to the streets by &#8220;hijackers&#8221; who were trying to illegally take over the site where he lived.
Makama, who was working as a panel beater and unable to afford rent for his family of six, had been given permission to build a shack on the land by its owners, who lived in Canada.
&#8220;The community realised what had happened and protested my eviction. We got legal support and eventually returned,&#8221; said Makama, sitting alongside his corrugated iron shelter. &#8220;The community saved my life, so now I dedicate mine to them.&#8221;
Makama patrols the streets at night on foot to make sure residents are safe, while the grandmothers act as extra eyes, quickly phoning Makama if they hear or witness crime.
Residents say Makama comes quickly at any hour to calm people down as they wait for the police to arrive.
&#8220;It takes two to fight crime: we need the community involved because they are there 24 hours and they know what is happening in their environment,&#8221; said Bertrams police captain Richard Munyai, cautioning residents not to approach criminals.
&#8220;They mustn&#8217;t be heroes, just informers.&#8221;
Criminologist Anine Kriegler said the grandmothers sitting on their porches and looking out their windows are using a tried-and-tested method known as natural surveillance, which deters criminals by increasing the number of eyes on them.
&#8220;Grandmothers have been playing an important role in looking after young people for most of human history,&#8221; said Kriegler of the University of Cape Town.
Such surveillance tools, which also include keeping entrances well-lit and cutting down bushes to eliminate hiding spots, offer a low-cost alternative to barricading yourself behind high walls and electric fences, she said.
&#8220;The wealthy buy themselves &#8230; fortification that harms natural surveillance,&#8221; she said. &#8220;We can&#8217;t look out for each other if we live in fortresses.&#8221;
Although many South Africans have lost faith in the police, with some even resorting to vigilantism, communities can work together to improve their security through neighbourhood watches, she said.
Makama is a firm believer in non-violent crime prevention, citing how one grandmother called him to stop a drug dealer beating his daughter. The police rushed to the scene and arrested the man who is still in prison today.
&#8220;There are a lot of problems but we do something to protect one another instead of waiting for things to get better,&#8221; agreed Evelyne.
The group, made up of just 18 regular volunteers, also helps the community respond to illegal evictions, contact the government over water or electricity cuts, escorts children safely to school and runs a soup kitchen.
&#8220;We play an important role, even though we do it free &#8211; we do it because we care,&#8221; said Elizabeth, a 60-year-old volunteer.
Uncertain whether looting would continue as darkness fell, Makama was preparing for another sleepless night, determined to give back to neighbours who have helped him over the years.
He described how he nearly cried at Christmas when he was short of food and 72-year-old Evelyne delivered a trolley filled with groceries to his door.
&#8220;If you love and protect your community, they will love and protect you too,&#8221; he said. (Reporting by Kim Harrisberg @KimHarrisberg; Editing by Katy Migiro. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)
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FEATURE-Sharp-eyed grandmothers combat looting and crime in South Africa

SOUTH AFRICA&#8217;S TRANSNET SAYS SERVED WITH FORCE MAJEURE NOTICE BY REFINERY SAPREF, TRYING TO AVERT COMMERCIAL FUEL OPERATIONS BEING AFFECTED
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SOUTH AFRICA’S TRANSNET SAYS SERVED WITH FORCE MAJEURE NOTICE BY REFINERY SAPREF, TRYING TO AVERT COMMERCIAL FUEL OPERATIONS BEING AFFECTED

* Turkish central bank expected to hold main rate at 19%
* South African rand at three-month low as unrest continues
* Czech crown down but tighter policy expected to support
By Ambar Warrick
July 14 (Reuters) &#8211; Emerging market stocks and currencies fell on Wednesday after a surge in U.S. inflation raised fears the Federal Reserve might tighten policy sooner than expected, while Turkey&#8217;s lira dipped ahead of an interest rate decision.
U.S. consumer prices surged at their fastest pace in 13 years in June, sending the dollar and Treasury yields higher as markets bet that the Fed would raise rates by the end of 2022.
MSCI&#8217;s index of emerging market currencies fell 0.2% while stocks retreated 0.3%. A rise in U.S. lending rates usually makes risk-driven assets appear less attractive and drives capital out of emerging markets.
In Europe, the Middle East and Africa, Turkey&#8217;s lira fell 0.2% to 8.6373 ahead of an interest rate decision, with the central bank expected to maintain rates at 19% amid spiking inflation in the country.
The lira is the worst performing emerging market currency this year, down nearly 16% on government interference in policy making. Analysts are doubtful about the lira&#8217;s prospects, despite a sharp rebound in growth from the COVID-19 pandemic.
&#8220;We are quite cautious about Turkey&#8217;s macroeconomic imbalances and uncertain policy outlook with respect to the central bank, but this does not mean that we do not expect a punchy activity rebound in the near term,&#8221; Tatha Ghose, FX and EM analyst at Commerzbank wrote in a note.
However, Ghose said growth would take a severe downturn in 2022 as Turkey&#8217;s &#8220;unconventional monetary policy experiment unravels&#8221;.
Credit Suisse had said in a note last week that tighter policy was needed to rein in runaway inflation.

Turkish stocks rose 1% on reports that the country expanded regulations for asset management firms, allowing for more flexibility in debt transfers.
South Africa&#8217;s rand dropped 0.2% to a new three-month low of 14.7648 to the dollar, with violence in the country showing little sign of stopping.
The rand tumbled 3.9% over the past two sessions, turning negative for the year, as violence over the jailing of former president Jacob Zuma killed more than 70 people, wrecked several businesses and even shut down the country&#8217;s largest refinery.
The Czech crown fell 0.2% versus the euro, faring slightly better than its peers in Central Europe as rising inflation and comments from central bank officials suggested more monetary policy tightening was on the way.
Specialist emerging market asset manager Ashmore Group said its quarterly assets under management rose by $4.5 billion, reflecting some improvement in sentiment towards emerging markets during the second quarter.
For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see https://tmsnrt.rs/2OusNdX

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For CENTRAL EUROPE market report, see
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(Reporting by Ambar Warrick; Editing by David Clarke)
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EMERGING MARKETS-FX hit by U.S. inflation, Turkish lira drops before rate decision

JOHANNESBURG, July 14 (Reuters) &#8211; Crowds looted shops and businesses in South Africa on Wednesday, defying government calls for an end to a week of violence that has killed more than 70 people, wrecked hundreds of businesses and shut down a refinery.
Protests that followed the jailing of ex-president Jacob Zuma last week for failing to appear at a corruption inquiry have widened into looting and an outpouring of general anger over the hardship and inequality that persist 27 years after the end of apartheid.
Shopping malls and warehouses have been ransacked or set ablaze in several cities, mostly in Zuma&#8217;s home in KwaZulu-Natal (KZN) province to the country&#8217;s biggest city Johannesburg and surrounding Gauteng province..
But overnight it spread to two other provinces &#8211; Mpumalanga, just east of Gauteng, and Northern Cape, police said in a statement.
A Reuters photographer saw several shops being looted in the town of Hammersdale, Mpumalanga, on Wednesday. Local TV stations meanwhile showed more looting of shops in South Africa&#8217;s largest township Soweto, and in the port city of Durban.
South Africa&#8217;s largest refinery SAPREF in Durban has been temporarily shut down due the unrest, an industry official said on Wednesday.
The United Nations in South Africa expressed concern that the violence was disrupting transport for workers and medical staff and causing shortages of food, medicine and other essential products.
&#8220;This will exacerbate the already social and economic hardships caused by joblessness, poverty and inequality in the country,&#8221; it said in a statement on Tuesday night.
Security officials said on Tuesday the government was working to halt the spread of the violence and looting.
The national prosecuting authority has said it will punish those caught looting or destroying property, a threat that so far has done little to deter them.
Soldiers have been sent onto the streets to help outnumbered police contain the unrest. (Reporting by Olivia Kumwenda-Mtambo and Tanisha Heiberg in Johannesburg, Wendell Roelf in Cape Town, and Rogan Ward in Hammersdale, Editing by Tim Cocks and Angus MacSwan )
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South African crowds rampage overnight, defying calls for end to violence, looting

LONDON, July 14 (Reuters) &#8211; Africa-focused Tullow Oil expects a full-year operating cashflow of $600 million, steady from last year, if the oil price averages $60 a barrel for the rest of the year, it said on Wednesday.
If oil prices, currently at around $76 a barrel, average $70 for the remainder of the year, operating cashflow would go up by $50 million, it added. (Reporting by Shadia Nasralla, editing by Louise Heavens)
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Tullow Oil expects FY cashflow of $600 mln at $60/bbl oil price

SOUTH AFRICA&#8217;S LARGEST REFINERY SAPREF SHUTDOWN TEMPORARILY DUE TO UNREST &#8211; INDUSTRY OFFICIAL
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SOUTH AFRICA’S LARGEST REFINERY SAPREF SHUTDOWN TEMPORARILY DUE TO UNREST – INDUSTRY OFFICIAL

* Lower wheat production forecast in top exporter Russia supports prices
* Dryness seen curbing U.S. spring wheat production
* Corn dips, losses curbed by expectation of drop in Brazil output (Recasts with move in wheat prices, adds details on Russian wheat output, fund positioning)
By Naveen Thukral
SINGAPORE, July 14 (Reuters) &#8211; Chicago wheat futures rose on Wednesday, with prices underpinned by a forecast of lower output in top supplier Russia and adverse weather hurting crops in the United States.
Corn and soybeans eased.
The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.2% to $6.35 a bushel, as of 0225 GMT.
Corn lost 0.4% to $5.38-1/2 a bushel and soybeans gave up 0.2% to $13.49-1/2 a bushel.
Russia&#8217;s Sovecon agriculture consultancy said on Tuesday it had downgraded its forecast for the country&#8217;s 2021 wheat crop by 2.3 million tonnes to 82.3 million tonnes after lower-than-expected yields at the start of harvesting.
Russia is the world&#8217;s largest wheat exporter, supplying mainly to Africa and the Middle East, with the European Union as its main competitor.
The U.S. Department of Agriculture (USDA), in a monthly report, slashed its harvest outlook for spring wheat, other than durum, by 41% year-on-year to 345 million bushels, putting it 25% below the average of analysts&#8217; estimates.
The agency, in a separate weekly report, said 16% of the U.S. spring wheat crop was in good-or-excellent condition, down from 68% a year earlier and in line with forecasts.
Corn futures were also underpinned by optimism about export demand for U.S. supplies, given declines in the size of Brazil&#8217;s corn harvest. The USDA on Monday lowered its estimate of Brazil&#8217;s 2020/21 corn production to 93 million tonnes, from 98.5 million a month earlier.
Brokers were also considering whether the USDA might eventually lower its forecast of the U.S. 2021 corn yield from its current projection of 179.5 bushels per acre, signalling tighter supplies of new-crop corn.
U.S. soybean crushings likely dropped in June to the lowest in four months amid thinning supplies and scattered processor downtime, analysts said ahead of a National Oilseed Processors Association (NOPA) report due on Thursday.
NOPA members, which handle about 95% of all soybeans processed in the United States, were estimated to have crushed 159.483 million bushels of soybeans in June, according to the average of estimates from 12 analysts.
However, China&#8217;s soybean imports in June rose 11.6% from May, customs data showed on Tuesday, continuing the trend of resurgent demand in the world&#8217;s top buyer as it strives to meet meal demand for its burgeoning hog herds.
China took in 10.72 million tonnes of soybeans in June, up from 9.61 million tonnes in May, and the third-highest monthly amount on record, data from the General Administration of Customs showed.
Commodity funds were net buyers of CBOT corn, soyoil and soybean futures contracts on Tuesday and net sellers of wheat and soymeal futures, traders said. (Reporting by Naveen Thukral; Editing by Subhranshu Sahu)
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GRAINS-Chicago wheat futures climb on supply worries, corn eases

(Adds U.S. market close)
* U.S. consumer prices surge in June
* U.S. Treasury yields slip after initial jump
* Treasury auction of 30-year bonds poorly received
* Global asset performance http://tmsnrt.rs/2yaDPgn
By Herbert Lash and Tom Arnold
NEW YORK/LONDON, July 13 (Reuters) &#8211; Bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in U.S. inflation in 13 years rattled investors who fear rising interest rates could end a stock market rally that has doubled prices from 2020 lows.
The yield on U.S. Treasury debt initially fell on news the U.S. consumer price index in June jumped 5.4% year over year, the largest gain since August 2008, the Labor Department said.
But a weak Treasury auction sparked a 4.7-basis-point jump in the benchmark 10-year note to 1.41% after initially falling to 1.343% after the CPI data was released.
The inflation spike followed a 5.0% increase in the 12 months through May, while CPI rose 0.9% month over month after advancing 0.6% in May, gains that unnerved investors.
Stocks on Wall Street at first took the CPI data in stride, bidding up technology stocks that typically thrive with low interest rates.
The $24 billion of 30-year bonds were sold to yield 2.00%, or more than two basis points above where the debt had traded before the auction.
The jump in inflation ultimately is a negative hanging over a market that has enjoyed a remarkable rally since the lows of March 2020, said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.
&#8220;Inflation is not the worst news for stocks, but it&#8217;s very bad news for bonds,&#8221; Meckler said. &#8220;You&#8217;re starting to see some of the potential negatives that could bring an end to this incredible rally this year.&#8221;
MSCI&#8217;s world equity index, which tracks shares in 50 countries, fell 0.14% to close at 726.33, after earlier setting a new high at 728.77. In Europe, the broad FTSEurofirst 300 index added 0.07% to set a record close of 1,779.34.
On Wall Street, the Dow Jones Industrial Average fell 0.31% to 34,888.79, the S&amp;P 500 lost 0.35% to 4,369.21 and the Nasdaq Composite dropped 0.38% to 14,677.65.
Stock investors could re-enter the market to buy &#8220;on the dip&#8221; as investors wait to see if the Federal Reserve takes aggressive steps to halt rising inflation, Meckler said.
Federal Reserve Chair Jerome Powell testifies before Congress on Wednesday and Thursday.
&#8220;A lot of this will play into the Fed&#8217;s transitory story,&#8221; Gennadiy Goldberg, interest rate strategist at TD Securities in New York, said about the CPI data. &#8220;You can argue that a lot of this (inflation spike) is due to the recovery.&#8221;
The dollar index, which tracks the greenback versus a basket of six currencies, rose 0.56% to 92.778. The euro fell 0.70% to $1.1776, while the Japanese yen was last up 0.24% at $110.6200.
Overnight in Asia, MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan rose 1%, its best daily gain since late June, led by a 1.6% rise in Hong Kong, where tech stocks rose broadly. Japan&#8217;s Nikkei was up 0.5% while Australian shares closed broadly flat.
In Hong Kong, tech behemoth Tencent Holdings Ltd jumped 3.9% after China&#8217;s antitrust regulator on Tuesday approved its plan to take China&#8217;s No.3 search engine, Sogou Inc , private in a $3.5 billion deal.
Euro zone government bond yields have fallen in line with U.S. Treasuries in recent weeks, and are running close to their lowest levels since early April.
Germany&#8217;s 10-year bond yield was unchanged at -0.297%, close to a three-month low of -0.344% hit last week.
South Africa&#8217;s rand dropped to a three-month low, slipping 1.2% to 14.4000 against the dollar, as violence escalated over the jailing of former President Jacob Zuma.
Brent crude settled up $1.33 at $76.49 a barrel. U.S. crude rose $1.15 to settle at $75.25 a barrel.
Gold was little changed as a firmer dollar offset support from bets that the Fed was unlikely to respond to the jump in U.S. inflation with immediate monetary tightening.
U.S. gold futures settled up 0.2% at $1,809.90 an ounce.
(Reporting by Herbert Lash; additional reporting Karen Brettell and Saqib Ahmed in New York, Karen Pierog in Chicago, Julie Zhu in Hong Kong; Sujata Rao and Vidya Ranganathan; Editing by Stephen Coates, Emelia Sithole-Matarise, Gareth Jones, Dan Grebler and Sonya Hepinstall)
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GLOBAL MARKETS-Stocks, debt yields slip on U.S. CPI, poor bond auction

* U.S. June CPI comes in hotter than expected
* Loonie slips ahead of BoC monetary policy decision (Updates to U.S. afternoon)
By Saqib Iqbal Ahmed and Marc Jones
NEW YORK, July 13 (Reuters) &#8211; The U.S. dollar climbed to a 5-day high against a basket of currencies on Tuesday after data showed U.S. inflation data for June coming in hotter than expected, raising the prospect that inflationary concerns are set to linger.
U.S. consumer prices rose by the most in 13 years in June https://www.reuters.com/article/usa-economy-inflation/u-s-consumer-prices-surge-in-june-idUSL1N2OO1VQ amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum.
&#8220;(This was) clearly an upside surprise. It will make (Federal Reserve Chairman Jerome) Powell&#8217;s testimony on Capitol Hill tomorrow a much trickier exercise than it would&#8217;ve otherwise been given that it will put some additional pressure on the &#8216;transitory&#8217; narrative,&#8221; said Michael Brown, senior analyst at payments firm Caxton in London.
&#8220;FX reaction is as one would expect given an upside surprise, with the dollar rallying across the board in line with the sharp rise in Treasury yields,&#8221; said Brown.
Traders are looking forward to Powell testifying before Congress on Wednesday and Thursday for any signals on the timing of potential U.S. tapering.
Powell has repeatedly stated that higher inflation will be transitory, noting that he expected supply chains to normalize and adapt. Treasury Secretary Janet Yellen shares that view.
The dollar index, which measures the greenback against a basket of six currencies, was 0.59% higher at 92.762, its highest since July 8. The index is just shy of the three-month high of 92.844 touched last week.
The possibility of U.S. stimulus withdrawal &#8211; brought to the fore by a surprise shift in tone last month from the Fed &#8211; has boosted the dollar in recent weeks despite a renewed rise in coronavirus cases in many parts of the world.
U.S. consumer price inflation data is likely to help boost the dollar higher.
&#8220;It kind of reinforced the Fed taper story and the dollar has been consolidating for the front of the week, and I think this was the kick that it needed to renew its gains,&#8221; said Kathy Lien, managing director at BK Asset Management in New York.
Modest strength in the price of oil, a major export for Canada, failed to stanch the Canadian currency&#8217;s losses against its U.S. counterpart. The loonie was down 0.5% to a four-day low against the dollar. The Canadian central bank is due to update its economic forecasts at a policy announcement on Wednesday.
Sterling fell on Tuesday https://www.reuters.com/article/britain-sterling/update-1-pound-extends-fall-after-u-s-inflation-data-lifts-dollar-idUSL1N2OP17X after the Bank of England scrapped pandemic-era curbs on dividend payments by banks, but warned some asset prices look stretched.
The pound was last down 0.49% against the dollar, with the bulk of the day&#8217;s losses coming after the release of the U.S. CPI data.
Escalating violence over the jailing of former President Jacob Zuma https://www.reuters.com/article/safrica-zuma/update-3-worst-violence-in-years-spreads-in-south-africa-as-grievances-boil-over-idUSL1N2OP0HW sent South Africa&#8217;s rand down more than 2% to a three-month low against the U.S. dollar.
China&#8217;s yuan rose to a near one-week high after surprisingly strong trade data https://www.reuters.com/world/china/chinas-june-exports-growth-beats-fcast-easing-global-lockdowns-boost-demand-2021-07-13 eased fears about a slowdown in what has been one of the world&#8217;s strongest economic recoveries.
Cryptocurrencies remained on the back foot on Tuesday, with bitcoin down about 2.18% at a four-day low of $32,384.64, as investors shed riskier assets following U.S. inflation data.
(Reporting by Saqib Iqbal Ahmed Editing by Sonya Hepisntall)
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EMERGING MARKETS-FX hit by U.S. inflation, Turkish lira drops before rate decision

South African crowds rampage overnight, defying calls for end to violence, looting

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SOUTH AFRICA’S LARGEST REFINERY SAPREF SHUTDOWN TEMPORARILY DUE TO UNREST – INDUSTRY OFFICIAL

GRAINS-Chicago wheat futures climb on supply worries, corn eases

GLOBAL MARKETS-Stocks, debt yields slip on U.S. CPI, poor bond auction

FOREX-Dollar rises as U.S. data shows inflation running hot

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