Stories for June 27th 2011

Monday, June 27th 2011 - 15:00 UTC
Soros: EU on verge of economic collapse; some countries will have to exit the Euro

US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.
Monday, June 27th 2011 - 07:25 UTC
Falkland Islands: Rockhopper 14/10-5 Appraisal well update – flow test result

Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to provide the following update on the flow test carried out at well 14/10-5. * Well flowed at commercially viable rates. * Well flowed at stabilised rates of 5508 stb/ * l achieved a maximum stabilised flow rate of 9036 stb/d
Monday, June 27th 2011 - 06:48 UTC
Brazil’s former Food Security minister voted next FAO Director General

The United Nations’ food agency, FAO, elected Brazil’s Jose Graziano da Silva as its Director General, the first new leader in almost two decades as the world faces near-record food prices that are driving millions into poverty.
Monday, June 27th 2011 - 06:44 UTC
Australia, Canada and most of Latam support Mexican candidate as IMF chief

Australia and Canada said they support Mexican central bank Governor Agustin Carstens for the top job at the International Monetary Fund over his rival Christine Lagarde, the French finance minister.
Monday, June 27th 2011 - 06:40 UTC
Global rice production reaches 476 million tons in 2011; strong Mercosur recovery

Global rice production is expected to touch 476 million tons in 2011, on the back of improved weather conditions, as the influence of La Niña is expected to neutralize by June, United Nation’s body FAO said.
Monday, June 27th 2011 - 06:30 UTC
Food inflation in Latam and Caribbean averaged 7.4% in May

The inflation for food items in Latin America and the Caribbean reached 7.4% in May, according to FAO. The sharp rise in the regional prices was attributed to an even sharper increase in food prices which on a world wide basis rose 37% in May compared to world food prices in May 2010, the FAO said in a report from its regional headquarters in Chile.
Monday, June 27th 2011 - 06:24 UTC
Parlasur member claims Mercosur summits have become ‘display of empty rhetoric’

Mercosur summits have become a display of empty rhetoric, full of protocol and ‘family photos’ but with no full hearted willingness to achieve a solid, fair integration, claimed the head of the Paraguayan delegation before Parlasur, the Mercosur Parliament.
Monday, June 27th 2011 - 06:19 UTC
Argentina’s soy bean crop will represent 8bn USD in levies for the Treasury

Soy export taxes for the 2010/2011 crop will represent 8 billion US dollars for the Argentine Treasury compared to 6.3bn in the previous season, according to estimates from the country’s Ministry of Agriculture and Livestock.
Monday, June 27th 2011 - 06:15 UTC
Central banks must raise interest rates to control inflation, says BIS

Central banks need to start raising interest rates to control inflation and may have to act faster than in the past according to the Bank of International Settlements.
Monday, June 27th 2011 - 06:09 UTC
US think-tank says hedge funds are behind “land grabs” in Africa

Hedge funds are behind “land grabs” in Africa to boost their profits in the food and bio-fuel sectors, a US think-tank says. In a report, the Oakland Institute said hedge funds and other foreign firms had acquired large swathes of African land, often without proper contracts. It said the acquisitions had displaced millions of small farmers.