Major emerging economies are ready to provide financial help to the Euro zone via the International Monetary Fund but in return want commitments to reform the IMF to be implemented, Russian Foreign Minister Sergei Lavrov said Monday.
Paraguay’s Livestock Service has confirmed that negligence in the handling of foot and mouth disease vaccines was the cause for the September FMD outbreak that forced the country to cease exports. The announcement discards doubts about the quality of the vaccines.
Iran has eclipsed Russia to become the biggest buyer of beef from Brazil, the world’s top exporter of the meat, strengthening the countries’ controversial ties.
US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft. The venture seemingly extinguishes any remaining chance of UK’s BP reviving its own deal, which lapsed in May.
The United States said Wednesday it would like China to explain why it needs an aircraft carrier amid broader US concerns about Beijing's lack of transparency over its military aims.
Chinese military officials have confirmed that the country is completing work on its first aircraft carrier, based on the hull of Russian carrier Varyag.
The Russian market which has been the main buyer of Uruguayan beef helping to boost cattle prices has virtually ceased operations according to Uruguayan exporters who claim deals are limited to small shipments of livers and tongues.
Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
Uruguayan president Jose Mujica warned that several abattoirs will run into deep trouble and might have to close down because of the lack of livestock ready for slaughtering. He also cautioned that “there is not much more the Executive can do”.
World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.