World Bulletin / News Desk
World food prices surged in July after falling in the previous three months and could rise further, increasing the potential for a food crisis of the kind seen in 2007/08, the United Nations food agency said on Thursday.
"Prices have the potential to increase further," the Food and Agriculture Organisation's senior economist and grain analyst Abdolreza Abbassian told Reuters. "Definitely it is not going to be a season where prices fall below the previous year."
A food crisis erupted five year ago as soaring grain futures markets helped push up prices and sparked violent food riots, although a rerun would only happen if countries started to introduce policies such as export bans, he said.
The FAO Food Price Index, which measures monthly price changes for a food basket of cereals, oilseeds, dairy, meat and sugar, averaged 213 points in July, up 12 points from June, and back to levels seen in April this year, the FAO said in a monthly index update.
July's level is still below a record of 238 points reached in February 2011, FAO said, but close to levels seen during the food crisis in 2007/08.
Global economic trend does not augur well for developing countries: UN Conference on Trade and Development report
"We will look carefully at tax rulings issued by Luxembourg to GDF Suez," Vestager said in the Commission statement.
The Bank for International Settlements (BIS) -- dubbed the central bank of central banks -- said a gauge of Chinese debt had hit a record high in the first quarter of the year.
Civil claims involve bank's mortgage activities
Adeosun said that the bonds are expected to go on sale in December, with the proceeds channelled into capital projects.
May also ruled out a new general election anytime soon, saying Britain needed stability following June's referendum vote to pull out of the European Union.
A 2nd airport would put Rwanda on par with its regional peers, as more tourists flock to East Africa
Country GDP shrank by 2.06 percent in second quarter of 2016
Afghan traders worried fruit exports are rotting after two-week border closure
Foreign trade minister says Trans-Atlantic Trade and Investment Partnership negotiations should stop
Overnight lending rate gets cut by 25 points to 8.50 percent; overnight borrowing rate remains unchanged at 7.25 percent
"It appears that a programme of public spending in Germany would not be the most appropriate tool to help give a strong stimulus to the international economy," the central bank said following a study into the issue.
The 0.3 percent quarterly gain was in line with average forecasts compiled by data company Factset.
Qatari Ambassador to Ankara says bi-lateral trade could double through committment to undertake further investments in Turkey
Radical cleansing will start a new era in Turkey, says the head of the Turkish Cooperation and Development Agency (TIKA)