World Bulletin / News Desk
D-8 Organization for Economic Cooperation has launched a new project to avoid food crisis around the world.
Speaking to AA correspondent on Wednesday, D-8 Secretary General Prof. Widi Pratikto said that the world was facing another food crisis.
"To prevent new food crisis, the organization has launched a "Seed Bank" project which will be focused on the sectors of agriculture, food safety, energy, trade as well as industry and transportation," said Pratikto.
Pratikto stated that D-8 countries, Turkey, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria and Pakistan, make one-sixth of world's all population.
After making several arrangements on the structure of organization, "Despite the economic downturn around the globe, in 2009 D-8 had a trade of 5.7 billion USD, and following the new agreements it reached 7.3 billion USD in 2011," said Pratikto.
Mentioning the new project of the organization, Pratikto said that Turkey would prepare a rough draft until October.
The IMF warned that "significant policy uncertainties imply larger-than-usual" risks to the US outlook on either side, since spending cuts could lower growth, while tax cuts could provide stimulus and expand the economy.
Now the VNO-NCW is calling for the Dutch parliament to reverse a 2015 decision to introduce a cap of 20 percent of annual pay on the bonuses which can be paid out to top managers in the banking industry.
The state-owned energy trading firm Lietuvos Duju Tiekimas said it signed the deal with the Texas company Cheniere Energy.
Adding to the upward pressure for oil is the crisis in the Middle East, where a Saudi-led blockade of Qatar has fuelled concerns of possible conflict.
Bourses in both Paris and Frankfurt dipped after a report from data monitoring company IHS Markit showed Eurozone private sector business activity slowed sharply in June while staying in expansion mode.
Analysts said that while the downturn in the headline readings was disappointing, the economy continued to put in a strong performance.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
Move estimated to save company $1B in investment costs
However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.
The purchase in one fell swoop gives Amazon, which until now has operated almost entirely on the internet, a big presence in the brick-and-mortar world on Main Street, with more than 450 stores in the US, Canada and Britain.
"The Bank of Russia Board of Directors decided to cut the key rate to 9.00 percent per annum," the bank said in a statement. The cut follows a half-point decrease in late April.
Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices.
"In May 2017, passenger car registrations across the EU increased by 7.6 percent to 1.387 million units," ACEA said in a statement.