The International Food Policy Research has warned that the world is teetering close to the brink of a global food crisis as a drought ravages corn corps in the United States, the world’s largest grower.
Speaking at an interview with Bloomberg TV, director-general of the Institute Fan Shenggen urged US policymakers to abandon its biofuel programme.
India, Thailand and Myanmar will soon be linked by a 3,200km highway, running from India’s North-eastern states to the Thai border with Myanmar, reported the Times of India on Monday, after the Indian government agreed to loan Myanmar $500 million in order to complete the project.
Oil rich yet plagued with high unemployment, Oman has announced plans to spend an additional $1 billion to create jobs for its citizens over the next 12 months.
According to Reuters, the Arab state had reported earlier this month that government revenues surged 35 percent from a year earlier to 7.37 billion rials ($19.1 billion) in the first six months of this year, because of higher-than-anticipated oil prices and sharper growth in gas revenue.
London Olympics draws to a close with all eyes on Rio for 2016. The highlight of the week will undoubtedly be the situation facing Standard Chartered Bank, as it faces allegations of money laundering for transactions tied to Iran. The bank is due for a hearing to defend its New York license this Wednesday.
Monday, August 13
The Olympic flag arrives in Rio de Janerio, where the 2016 Summer Games will be held.
Myanmar’s parliament debates foreign investment law.
U.K. bankers can “learn a thing or two” about fair play and motivations from the nation’s Olympic athletes and volunteers, said Bank of England governor Sir Mervyn King on Sunday, following a series of high-profile financial scandals that have tarnished the reputation of Britain’s banking industry.
India’s sovereign credit rating may fall below investment grade within the next 12-24 months, warned Fitch Ratings on Monday, as the country continues to struggle with an uncertain investment climate, which has deterred several foreign investors.
The United States Justice Department has said it will not pursue criminal charges against Wall Street titan, Goldman Sachs, nor its employees, for its roles in the 2007/08 subprime mortgage crisis.
In a statement, the Justice Department said “the burden of proof” could not be met to prosecute Goldman Sachs criminally based on claims made in an extensive reported prepared by a US Senate panel that had investigated the bank for its role in selling toxic debt.
As we mark the fifth-year of the global financial crisis today, experts from the United Nation’s food agency have warned that soaring world food prices could lead to a repeat of the 2007/08 food crisis which hurt some of the world’s poorest communities.
According to the Food and Agriculture Organisation of the United Nations, global food prices surged 6 percent in the month of July after three months of decline.
Investors at Standard Chartered Bank are reportedly unconvinced by the company’s attempts to defend itself from allegations that it assisted Iran with over $250 billion in financial transactions, said Reuters on Thursday, with many investors now blaming StanChart’s lack of direct communication with shareholders for limiting its share price recovery.
Kenya could become the first-ever African nation to host the Summer Olympic Games, reported the Financial Times on Thursday, after Prime Minister Raila Odinga announced his intention to bid for the 2024 Olympics in the capital of Nairobi.
According to Odinga, Africa’s time to host the games had come, especially after South Africa’s and Egypt’s attempt to host the games, in 2004 and 2008 respectively, had failed.
