June, 2016

• 2 June

  World food-import bill to drop below $1 trillion to 7-year low

  

    Bloomberg The world’s food-import bill is set to tumble to a seven-year low in 2016 as a decline in grain prices and lower freight rates more than compensate for increased imports, according to the United Nations. Countries around the globe will probably spend $986 million importing food this year, the first drop below $1 trillion since 2009, the UN’s ...

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• 2 June

  Brazil’s industrial output rises in April

    Bloomberg Brazil’s industrial output unexpectedly rose in April, adding to indications that Latin America’s largest economy is close to hitting bottom. Production rose 0.1 percent in April after a 1.4 percent jump in March, the national statistics agency said on Thursday in Rio de Janeiro. That surprised all but one of the 37 economists surveyed by Bloomberg, whose median ...

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• 2 June

  US filings for jobless benefits dip again

    Bloomberg Filings for U.S. unemployment benefits declined for a third consecutive week, signaling sustained firming in the labour market. Jobless claims fell by 1,000 to 267,000 in the week ended May 28, a Labor Department report showed on Thursday. The median forecast of economists surveyed by Bloomberg called for applications to edge up to 270,000. Dismissals have been unusually ...

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• 2 June

  Monsanto to seal deal with Argentina over GMO soybean tests

  

    Bloomberg Monsanto Co. agreed to allow Argentina to help collect soybean royalty payments, according to two people with knowledge of the situation, a deal that may hasten the end of a lengthy dispute between the U.S. seed company and farmers in one of the world’s biggest agricultural exporters. St. Louis-based Monsanto also agreed to give the government full control ...

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• 2 June

  Obama flays Republican economic ‘myths’ at poll campaign rally

  

    Elkhart / AFP President Barack Obama shifted into full election campaign mode, accusing Republicans of trying to dupe middle class American voters about the economy and prey on their fears. Democrat Obama ditched his suit jacket and rolled-up his shirt sleeves for an hour-long partisan political speech in a predominantly Republican district of Indiana, a battleground state in the heart ...

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• 2 June

  Replete with solar energy, Chile gives it away free

  

    Bloomberg Chile’s solar industry has expanded so quickly that it’s giving electricity away for free. Spot prices reached zero in parts of the country on 113 days through April, a number that’s on track to beat last year’s total of 192 days, according to Chile’s central grid operator. While that may be good for consumers, it’s bad news for ...

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• 2 June

  OPEC content with oil market

  

    Vienna / AFP Saudi Arabia expressed confidence on Thursday that oil prices will keep recovering, cementing expectations that a divided OPEC will decide to keep crude gushing at its meeting in Vienna. “Everybody is very satisfied with the market. The market is rebalancing as we speak,” said Khaled Al Falih, newly appointed by the kingdom’s powerful and dynamic new ...

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• 2 June

  Indonesian minister hits back in Communist massacre row

    Jakarta / AFP Indonesia’s defence minister said on Thursday suspected communists killed in 1960s military-backed massacres “deserved to die”, as a backlash mounts against efforts to resolve one of the darkest chapters in the country’s history. Hardline ex-general Ryamizard Ryacudu made the comments to a gathering of former military figures and nationalist groups convened in response to moves by ...

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• 2 June

  Exiled Philippine Communist chief ‘home’ in July

    Manila / AFP The leader of the Philippines’ communist insurgency said on Thursday he expects to end nearly 30 years in exile by returning from Europe to Manila as early as next month. While running for office last month, Rodrigo Duterte, now the newly elected president, said Jose Maria Sison, the rebel leader and Communist Party of the Philippines ...

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• 2 June

  ‘Muslim practices to be protected during Ramadan’

    DUSHANBE / AP Officials from China’s traditionally Muslim region of Xinjiang say they will not interfere with fasting and other standard religious activities during the Islamic holy month of Ramadan. The officials said at a news conference on Thursday that restaurants will be allowed to keep their own hours and activities in mosques and homes will be legally protected. ...

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