Economy

• Wednesday, February 16th 2011 - 00:32 UTC

  World Bank food prices index jumps 15% in four months, just below 2008 record

  

  Rising food prices have driven an estimated 44 million people into poverty in developing countries since last June as food costs continue to rise to near 2008 levels, according to new World Bank Group numbers released ahead of the G20 Meeting of Finance Ministers and Central Bank Governors in Paris.

• Wednesday, February 16th 2011 - 00:30 UTC

  IMF calls for Yuan and SDRs to play greater role in global finance

  

  IMF chief Dominique Strauss-Kahn said the currencies of China and other emerging economies such as Brazil should play a greater role in global finance, as part of a bid to promote monetary stability

• Wednesday, February 16th 2011 - 00:28 UTC

  Japan insists G-20 must address the issue of capital inflows to emerging economies

  

  Japan's finance minister made it clear Tuesday that Tokyo is particularly interested in discussing ways to deal with the problem of strong capital inflows into emerging economies when he meets with officials from the Group of 20 industrial and developing nations in Paris later this week.

• Tuesday, February 15th 2011 - 21:45 UTC

  New CPI basket eases China inflation; Beijing says it has abundant grain reserves

  

  China said on Tuesday consumer prices rose 4.9% in January, a lower-than-expected figure. According to data released by the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), the main gauge of inflation, was 0.3 percentage points higher than in December but still lower than November’s 28-month-high of 5.1%.

• Tuesday, February 15th 2011 - 19:26 UTC

  France warns it wants EU/Mercosur farmers subject to the same “strict” rules

  

  France warned Tuesday that it is following closely European Union/Mercosur trade talks to ensure that farmers from both blocks are strictly subjected to the same rules.

• Tuesday, February 15th 2011 - 11:35 UTC

  Extreme weather and panic buying send wheat soaring to new highs

  

  Countries anxious to avoid a repeat of the 2007-2008 global food crisis when they were caught short of grain supplies, have stepped up their buying programs and are driving prices to new highs.

• Tuesday, February 15th 2011 - 05:34 UTC

  US farmers have planted the biggest crop in 13 years reports USDA

  

  United States farmers have planted the biggest crop in thirteen years according to a report released by the US Department of Agriculture which estimated the area sown to the eight major field crops in 2011 at 103.3 million hectares.

• Monday, February 14th 2011 - 23:54 UTC

  Former UK farmers’ leader calls for stricter foot and mouth disease controls

  

  A leading farmer form South West England has called for new measures to stop another outbreak of foot and mouth disease (FMD) in the UK. Anthony Gibson, former regional director of the National Farmers Union, wants disinfectant footbaths for travellers arriving from problem areas.

• Monday, February 14th 2011 - 23:47 UTC

  Roubini warns of “hard landing” if developing countries don’t control inflation

  

  Nouriel Roubini the New York University professor, who predicted the credit crisis, said China and other emerging markets risk a “hard landing” as they start raising interest rates to fight inflation.

• Monday, February 14th 2011 - 23:37 UTC

  Uruguay manufacturing recovered mildly in 2010: “industry is stagnant”

  

  Uruguay’s manufacturing industry expanded 4.5% in 2010, but if the pulp industry hub is excluded the percentage drops to 3.5%, according to the latest release from the National Statistics Institute, INE.