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Rise in grain prices leads to fear for food

Rise in grain prices leads to fear for food

A sharp rise in grain prices is reverberating around the world as nations face food inflation. There has been a 30-50 percent gain in the benchmark price of corn, wheat and soyabeans, are echoing the 2007/8 food crisis. Countries likely to face the biggest repercussions are those dependant on agricultural imports. The Indonesian tofu industry […]
Taiwanese economy shrinks

Taiwanese economy shrinks

Taiwan’s economy has contracted in the second quarter by 0.16 percent, according to official data. Analysts surveyed by Bloomberg had expected it to grow by as much as 0.5 percent. “With deteriorating of European debt crisis and slowdown in major economies, the global demand is expected to decelerate and the outlook of world trade in […]
German banks’ lending to periphery lowest in 7 years

German banks’ lending to periphery lowest in 7 years

Lending by German banks to weaker parts of the eurozone has dropped to nearly 20 percent since the beginning of the year and is currently at its lowest level since 2005, according to central bank data. A total of €55bn less in net loans were granted to Greece, Ireland, Italy, Portugal and Spain by  German […]
Record high for Spanish unemployment

Record high for Spanish unemployment

Spain’s unemployment rate has risen once again to 24.6 percent in the three months to June, despite a small decline at the beginning of the summer attributed to temporary positions linked to the holiday trade, according to the National Statistic Institute. Half of those under the age of 26 and available for work are unemployed, […]
Weak ore prices hit Vale profit

Weak ore prices hit Vale profit

Brazilian iron ore giant Vale has reported a quarterly drop in net income of 59 percent as slow growth in China has affected iron ore prices. Further foreign exchange losses were triggered by a weak Brazilian real. The world’s largest iron ore miner has recorded a second quarter net income of $2.66bn, equivalent to 52 […]
Apple’s weak quarter dampened by iPhone 5 rumours

Apple’s weak quarter dampened by iPhone 5 rumours

Apple, currently the most valuable public company in the world, has missed growth forecasts in the third quarter of the fiscal year as the public held out for the release of their new iPhone. After selling 26 million iPhones in the three months to June 30, Apple recorded a 28 percent increase on the same […]
WTO investigates Chinese limit on rare earth exports

WTO investigates Chinese limit on rare earth exports

The World Trade Organisation has announced it will be investigating China’s quotas and tariffs on exported tungsten and molybdenum following complaints by the US, the EU and Japan that it might be breaking global trade rules. Over 90 percent of the world’s rare earths are produced in China; they are 17 key metallic elements used […]
New rules help South Korea’s housing market

New rules help South Korea’s housing market

Policy makers have stepped up plans to stimulate the real estate market and entice more buyers after the country registered tentative demands and want to prevent further wavering domestic growth. The debt-to income ratio, which monitors the type of mortgage loan imposed by banks, is due to be incremented to meet the needs of borrowers, […]
World braced for global food shortages

World braced for global food shortages

In the last five months, the US has lost around 100m tonnes of crops, predominately in South America and the US grain belt, an area which has been struggling with over 37.C degree (100F) temperatures. Maize prices have risen by 40 percent and soya bean by 25 percent. These crops are then converted into other […]
Shakeup at Singapore Stock Exchange

Shakeup at Singapore Stock Exchange

The change comes after the Hong Kong market watchdog, the Securities and Futures Commission (SFC), threatened to move in on investment banks if they allowed any false information about the companies to float on the exchange. Recent difficulties with companies like KXD Digital Entertainment, which had breached a string of rules including failure to disclose […]