Thursday, July 14th 2016 - 07:43 UTC

Petrobras tenth FPSO vessel in the pre-salt Santos Basin begins production

Petrobras is the operator of the Lula field with a 65% interest. Royal Dutch Shell has a 25% stake while the remaining 10% is in the possession of Petrogal Brasil SA.

Petrobras declared the commencement of production from the Cidade de Saquarema floating production, storage and offloading (FPSO) vessel at the Lula oil field on Jul 8. The offshore oil field is situated in the pre-salt Santos Basin and most importantly, the Cidade de Saquarema unit is the tenth FPSO that is working in the pre-salt region of Brazil.

Thursday, July 14th 2016 - 07:30 UTC

A third of commercial fish stocks fished at unsustainable levels, says FAO

There were around 4.6 million fishing  vessels in the world in 2014, 90% of which in Asia and Africa, and only 64,000 of which were 24 meters or longer

Global per capita fish consumption has risen to above 20 kilograms a year for the first time, thanks to stronger aquaculture supply and firm demand, record hauls for some key species and reduced wastage, according to a new FAO report.

Thursday, July 14th 2016 - 07:27 UTC

Higher forecasts for wheat output and cereal consumption in 2016/17

Global wheat production is now pegged at 732 million tons, more than 1% higher than anticipated in June, due to improved prospects in EU, the Russia and the U.S.

FAO's Cereal Supply and Demand Brief pointed to improved production prospects primarily for wheat. Global wheat production is now pegged at 732 million tons, more than one percent higher than anticipated in June, mainly due to improved prospects in the EU, the Russian Federation and the U.S., as a result of better weather conditions.

Thursday, July 14th 2016 - 07:23 UTC

Food commodity prices shot up 4.2% in June, steepest in four years says FAO

The FAO Sugar Price Index rose 14.8% from May, as Brazil, the world's largest sugar producer and exporter, endured heavy rains that hindered harvesting

International food commodity prices shot up 4.2% in June, their steepest monthly increase of the past four years. The FAO Food Price Index averaged 163.4 points in June and is now one percent below the level reached a year earlier. The June rise, which affected all commodity categories except vegetable oils, was the fifth consecutive monthly increase.

Thursday, July 14th 2016 - 03:54 UTC

May pledges to work “for all not just the privileged few”; Johnson foreign secretary and Hammond chancellor

On arriving at Downing Street after being appointed by the Queen, Mrs. May vowed to lead a government that works for all, not just the “privileged few”.

New Prime Minister Theresa May has made Boris Johnson, the former London mayor who led the Brexit campaign, foreign secretary in her new government. He replaces Philip Hammond, who becomes chancellor and ex-Energy Secretary Amber Rudd is home secretary and Euro skeptic David Davis is the Brexit secretary. Ex-chancellor George Osborne was not included apparently because his “brand” was seen as “too tarnished”.

Wednesday, July 13th 2016 - 06:58 UTC

G20 trade ministers Shanghai meeting question China's industries overcapacity

 “We agree that we need to do more to achieve our common objectives for global growth, stability and prosperity.” said China’s Commerce Minister Gao Hucheng

In the face of a “worrying” rise in protectionism, trade ministers from the world’s major economies have agreed to cut trade costs, increase policy coordination and enhance financing, China’s Commerce Minister Gao Hucheng announced at the closing of the Group of 20, G20, meeting in Shanghai.

Wednesday, July 13th 2016 - 06:30 UTC

HSBC 2012 money laundering was so great that if charged it could have led to 'a global financial disaster'

The bank, which has its headquarters in London, paid a US$1.92bn settlement but did not face criminal charges . No top officials at HSBC faced any charges.

United States officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a “global financial disaster”, a report says. A US Congressional report revealed UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil.

Wednesday, July 13th 2016 - 03:34 UTC

Gibraltar lobbying for full involvement in mapping UK's exit from European Union

Minister for Europe David Lidington, Gibraltar Chief minister Picardo and officials from other UK government departments met at 10 Downing Street

A team from Gibraltar is making the round of British government offices, parliament, friends and supporters to ensure the Rock has a full input into the process triggered by Brexit. Chief Minister Fabian Picardo and the Deputy Chief Minister Dr Joseph Garcia have met with Conservative and Labour lawmakers and this week visited Downing Street to talk with the UK Government team mapping out the way forward following the result of the Referendum of 23rd June.

Wednesday, July 13th 2016 - 02:30 UTC

Beijing rejects adverse international ruling on South China Sea islands and maritime space

President Xi Jinping said China's “territorial sovereignty and marine rights” in the seas would not be affected by the ruling “in any way”

China has firmly rejected an international tribunal ruling that its claims to rights in the South China Sea have no legal basis. President Xi Jinping said China's “territorial sovereignty and marine rights” in the seas would not be affected by the ruling “in any way”, however he added that Beijing was still “committed to resolving disputes” with its neighbors.

Wednesday, July 13th 2016 - 01:57 UTC

Downing Street legend welcomes Theresa and says good bye to the Camerons

“Larry is staying. He's very much the Downing Street cat, not the Camerons' personal cat,” Cabinet Office spokesman Benjamin Oliver said

Britain's new leader Theresa May will move into her official residence at 10 Downing Street Wednesday as Prime Minister David Cameron moves out, but one member of his team is staying put: Larry the cat. The brown and white tabby is deemed to be a government worker and will continue to live at the famous address even after his boss packs his bags, officials said.


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