South Africa’s coal-mining heartland has the worst air quality in the world, according to a recent study by environmental organization Greenpeace. The 12 large coal mines in this area make it the world’s hotspot for toxic nitrogen dioxide emissions. Residents and health experts say the effects of this are ruining their health and their lives. VOA’s Anita Powell went to the coal heartland of Middelburg, South Africa, and filed this report. …
Rising-Star Philippine Economy Slips, 2019 Seen as Pivotal
The Philippines ranked among Asia’s 10 fastest growing economies in 2017. Consumer power, remittances from overseas workers and an influx of call centers had given it that status, raising hopes for easing rampant poverty. Then GDP expansion wobbled in 2018 because of rising prices and lack of new direct investment. Now state spending on new infrastructure and local tourism are expected to decide whether the Philippines can get back on track this year. The Philippine economy grew 6.2 percent last year, down from 6.7 percent in 2017 and 6.9 percent a year earlier. Inflation dented consumption in late 2018, while factory investors stayed away for lack of infrastructure compared to what’s available elsewhere in Asia. Storm damage to crops, another economic backbone, and the six-month shutdown of the tourist hotspot Boracay Island ate away further at growth. “I think it’s a combination of factors,” said Eduardo Araral, associate professor at the National University of Singapore’s public policy school. “One would be inflation, because that would slow down consumption. Infrastructure is always a constraint. The economy is growing, but the bottlenecks are not yet fixed.” Slumps in farming, consumption A spike in consumer prices in the Philippines in late 2018 angered many, testing the popularity of President Rodrigo Duterte in his third year in office. August inflation set a nine-year record at 6.4 percent, then the highest in Southeast Asia. World oil price hikes were felt at the pump, while reports of rice scarcity raised prices in some parts of the …
South Korea’s Difficult Road Ahead to Combat Fine Dust
South Korea’s initial attempt at countermeasures to end the country’s current fine dust problem failed this week. Officials had sought to create artificial rain to address the current heavy air pollution many in Seoul blame on neighboring China. It’s an issue becoming more and more critical for residents. Kim Byung-gon, a Professor at Gangneung-Wonju National University Department of Atmospheric and Environmental Sciences told VOA that while fine dust particles from China are part of the problem, it isn’t the only thing causing South Korea’s bad air. “Fine dust occurs when pollutants emitted from China and internal (South Korean) pollutants stay in the air,” said Kim, who also noted that the exact cause of Seoul’s pollution problem has yet to be fully identified. Dong Jong-in, a professor in the Department of Atmospheric and Environmental Sciences at the University of Seoul, said that while domestic factors do affect the overall particulate matter in the air, “fine dust that has flowed from the outside [the country] in the upper air stream is the key factor.” As a result of continued concern by residents about the on-going increase in bad air quality days, South Korean President Moon Jae-in has announced that resolving the country’s fine dust problem will be one of the policy tasks his administration will undertake. Choking on air For three consecutive days in mid-January, the South Korean government issued alerts to citizens, warning of high levels of micro-dust in the air and urging them to stay inside, or if they had …
Study: Climate Change Linked to ‘Arab Spring’ Mass Migration
For the first time, scientists have linked climate change to the mass migration flows that followed the Arab Spring in North Africa and the Middle East a few years ago. According to scientists from the International Institute for Applied Systems Analysis in Austria, water shortages and droughts contributed to the Arab Spring conflicts, particularly in Syria, which remains mired in a civil war. “People started not being able to produce agricultural production, and that was the start of migration from the rural areas to urban areas, which were already quite crowded. And the resources in the urban areas were also scarce. So with that kind of tension, fighting for limited resources, and on top is the ethnic polarization in Syria. So, it’s sort of all that combination,” said Raya Muttarak, of the University of East Anglia in Britain. She co-authored a report on the subject. The researchers used United Nations’ data on asylum applications and conflict-related deaths. They combined this with data on drought and rainfall, plus other variables like population size and measures of democracy and ethnic diversity. All the figures were combined in a mathematical model. “So, let’s look at how climate affects the probability of conflict. And once we estimate that we use the number that we got from that to estimate the next step. So, the countries that experience conflict from climate variation — are they likely to send out the refugee flows or not?” explained Muttarak. She said that climate change would not cause conflict …
Climate Change Link to Arab Spring’ Mass Migration
The mass migration flows that followed the Arab Spring in North Africa and the Middle East were partly caused by climate change, according to new research. Scientists from the International Institute for Applied Systems Analysis in Austria say that in certain circumstances, climate conditions can lead to conflict, which drives increased migration. Henry Ridgwell reports. …
Energy-Short Pakistan Moves to Power Up Solar Manufacturing
Pakistan’s government has proposed to eliminate taxes associated with manufacturing of solar and wind energy equipment in the country, in an effort to boost the production and use of renewable power and overcome power shortages. A new government budget bill, expected to be approved in parliament within a month, would give renewable energy manufacturers and assemblers in the country a five-year exemption from the taxes. “Pakistan is paying the heavy cost of an ongoing energy crisis prevailing for the last many years,” Finance Minister Asad Umar said last week in a budget speech. “In this difficult time, the promotion of renewable energy resources like wind and solar has become indispensable.” Only about 5 to 6 percent of the power to Pakistan’s national electrical grid currently comes from renewable energy, according to the country’s Alternate Energy Development Board (AEDB). The proposed tax reduction should boost that by encouraging greater local manufacturing of equipment needed for renewable power expansion, said Asad Mahmood, a renewable energy expert with the National Energy Efficiency and Conservation Authority, which sits within the Ministry of Energy. Remaining hurdles But manufacturers said the tax breaks likely would not be sufficient to spur expansion of local renewable energy industries. Naeem Siddiqui, the chairman of Ebox Systems, which assembles solar panels in Islamabad, said the new tax breaks were good news but Pakistani manufacturers would still struggle to compete with tax-free, low-priced imports of foreign-built solar panels and other renewable energy equipment. “The government has already waived off taxes and …
Utility Bankruptcy Could Be Costly to California Wildfire Victims
Faced with potentially ruinous lawsuits over California’s recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could lead to higher bills for customers of the nation’s biggest utility and reduce the size of any payouts to fire victims. The Chapter 11 filing allows PG&E to continue operating while it puts its books in order. But it was seen as a possible glimpse of the financial toll that could lie ahead because of global warming, which scientists say is leading to fiercer, more destructive blazes and longer fire seasons. The bankruptcy could also jeopardize California’s ambitious program to switch entirely to renewable energy sources. PG&E said the bankruptcy filing will not affect electricity or gas service and will allow for an “orderly, fair and expeditious resolution” of wildfire claims. “Throughout this process, we are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating Northern California wildfires,” interim CEO John R. Simon said in a statement. PG&E cited hundreds of lawsuits from victims of fires in 2017 and 2018 and tens of billions of dollars in potential liabilities when it announced earlier this month that it planned to file for bankruptcy. The blazes include the nation’s deadliest wildfire in a century — the one in November that killed at least 86 people and destroyed 15,000 homes in Paradise and surrounding communities. The cause is under investigation, but suspicion fell on PG&E after …
PM: Ireland Ready to Tap Range of Emergency Aid in No-Deal Brexit
Ireland has alerted the European Commission that it will seek emergency aid in the event of a no-deal Brexit and is considering a range of other ways to help firms cope, Prime Minister Leo Varadkar said on Tuesday. With close trading links with Britain, Ireland’s export-focused economy is considered the most vulnerable among the remaining 27 European Union members to the impact of its nearest neighbor’s departure from the bloc. Ireland’s finance department forecast earlier on Tuesday that economic growth could be 4.25 percentage points less than forecast by 2023 in a disorderly Brexit and would disproportionately hit agricultural goods and small- and medium-sized enterprises. Varadkar said last month that Dublin was discussing with the Commission what state aid might be available if Britain leaves the bloc without a deal, and confirmed on Tuesday that it had informed Brussels that such a request would be forthcoming. “The purpose of this aid would be to help cope with the impact on Irish trade, particularly for the beef, dairy and fishing sectors,” Varadkar said in the text of a speech to be delivered at the Irish Farmers’ Association’s annual general meeting. Additional exceptional EU supports available in the case of serious agricultural market disturbance that Baltic states used when the Russian market was closed to them “can be used for us too,” Varadkar added. He said the government has been engaging on these issues with EU Agriculture Commissioner, Phil Hogan, a former Irish government minister and member of Varadkar’s Fine Gael party. …
US Consumers Rattled by Shutdown, Roiling Markets
U.S. consumer confidence tumbled this month to its lowest reading in a year and a half, tested by the partial government shutdown and roiling financial markets. Still, consumer spirits remain robust by historic standards. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 120.2 in January, down from 126.6 in December and the lowest level since July 2017. The index measures consumers’ assessment of current economic conditions and their expectations for the next six months. Both declined in January. Consumers’ expectations for the future dropped to the lowest point since October 2016. The government reopened Monday after the 35-day shutdown, the longest federal closure in U.S. history. The shutdown is expected to cause slight permanent harm to the economy — about $3 billion — according to a new government report. The January decline in consumer confidence “is more the result of a temporary shock than a precursor to a significant slowdown in the coming months,” said Lynn Franco, the Conference Board’s senior director of economic indicators. He noted that “shock events” such as government shutdowns “tend to have sharp, but temporary, impacts on consumer confidence.” The U.S. economy is healthy. Economic growth clocked in at a brisk 3.4 percent annual pace from July through September after surging 4.2 percent in the second quarter. At 3.9 percent, the unemployment rate is near its lowest level in five decades. The U.S. stock market is steadier after its wild gyrations and heavy losses late last year. …
North Korea’s Push for More Coal Clouds Environmental Future
North Korean leader Kim Jong Un sees coal as a key way to boost the economy, but burning more coal may worsen pollution in a country already choking on some of the world’s most toxic air. With the country staggering under the weight of international sanctions over its nuclear weapons program and human rights violations, defectors and analysts say Pyongyang has increased the domestic use of coal, which is blocked for export. Seven coal power plants and one oil-fired plant produce nearly 50 percent of North Korea’s electricity, with the rest coming from hydro power, according to South Korean government data. For households, coal is also a key fuel source for cooking and heating. But an increased reliance, which Kim announced in his New Year address, may have deadly implications. Per capita, North Korea’s air pollution mortality rate was the world’s highest at 238.4 deaths per 100,000 population as of 2012, a 2017 report from the World Health Organization (WHO) showed. That was 10 times higher than the rate in South Korea and higher than those of China and India, where smog often envelops major cities. North Korea has acknowledged the correlation between coal and polluted air, but said it has had limited access to cleaner options. “A combination of limited capital investment in infrastructure, limited access to efficient and low emission technologies … and reliance on energy produced from coal in low efficiency thermal power plants has impacted air quality in urban and industrial areas,” North Korea’s 2012 report …
As Arctic Chill Hits US, Trump Again Casts Doubt on Climate Change
A Tuesday tweet from a U.S. government scientific agency seems relatively innocuous: “Winter storms do not prove global warming is not happening.” The message from the National Oceanic and Atmospheric Administration (NOAA), which is devoted to climate science and information, includes a link citing research that severe snowstorms may be even more likely in a warming global climate because higher ocean temperatures appear to create more moisture. Many are viewing Tuesday’s post as a rebuttal to President Trump’s tweet late Monday noting an approaching deep freeze for the American Midwest and asking “What the hell is going on with Global Waming (sic). Please come back fast, we need you.” A polar vortex has returned this week to the Midwest bringing extremely low temperatures that could break records. NOAA denies any connection between the president’s comment and its social media posting. “We routinely put this story out at these times,” the agency said in a statement. “Our scientists weren’t responding to a tweet.” Most scientists say there is little valid research to counter the prevailing view climate change is real and note research also demonstrates that with global warming there will be more frequently extreme temperatures at both ends of the thermometer. With a forecast of icy roads around the nation’s capital, one item of unanimous consent throughout the Trump administration Tuesday is non-emergency federal workers – just two days back on the job after a record-long shutdown – could leave early because of the weather. “Employees of …
НБУ посилив гривню ще на дві копійки щодо долара
Національний банк України за підсумками торгів на міжбанківському валютному ринку встановив на 30 січня курс на рівні 27 гривень 77 копійок за долар США. Це на дві копійки менше за курс, встановлений на 29 січня. Раніше цього місяця голова Національного банку України Яків Смолій заявив, що обсяги міжнародних резервів України сягнули найвищого рівня за останні п’ять років завдяки зміцненню гривні. За його даними, національна валюта протягом року зміцнилася на 1,4%, що дозволило Нацбанку купувати валюту на міжбанківському ринку. Читайте також: НБУ повідомляє про зміцнення гривні «За рік сальдо наших валютних інтервенцій склало еквівалент 1,4 мільярда доларів США, які були спрямовані до наших резервів. Іншим джерелом стало зовнішнє фінансування: Україна отримала нову програму співпраці з МВФ, яка є фундаментом для подальшого зміцнення макрофінансової стабільності. Завдяки цьому до резервів від міжнародних партнерів – МВФ, Євросоюзу та Світового банку – надійшло 2,4 мільярда доларів США. У підсумку ми маємо найбільший обсяг міжнародних резервів за п’ять років. Це 20,8 мільярда доларів США. Востаннє такі цифри ми бачили восени 2013 року», – розповів Смолій. Зміцненню гривні, пояснив він, сприяла жорстка монетарна політика, сприятливі ціни на український експорт і високий врожай. Читайте також: Навіщо Україні гроші МВФ і скільки доведеться повернути За висновками голови НБУ, економіка України «показала максимальне зростання за останні сім років». Зокрема реальний валовий внутрішній продукт за підсумками трьох кварталів 2018 року зріс на 3,8%. Смолій очікує, що річний показник складе 3,4%, причому інфляція, додає він, вперше за п’ять років знизилася до 9,8%. «Це перевищувало нашу інфляційну ціль, яка складала 6%, плюс-мінус 2%. За підсумками року …
World’s Worst Air is in S. African Coal Community
South Africa’s coal mining heartland has the worst air quality in the world, according to a recent study by environmental group Greenpeace. The 12 large coal mines in this area make it the world’s hotspot for toxic nitrogen dioxide emissions. Residents and health experts say the effects are ruining their health and their lives. Patrick Mdluli, 35, considered himself healthy until he moved two years ago to Mpumalanga province – South Africa’s coal mining heartland. He developed breathing problems, including tuberculosis and nasal issues. “The mines, the dust, pollution — you go to doctors, they tell you the very same thing. ‘Are you living next to a mine?’ Yes, I am. ‘Are you living next to a dumping site?’ Yes, I am,” said Mdluli. A large coal mine operates, literally, in Mdluli’s backyard. The mine has conducted blasts every day, shaking his small home to its foundation and causing a large crack in the wall. This sunny swath of South Africa last year earned the unfortunate distinction of having the world’s worst air quality, says the environmental group Greenpeace. And it shows, said the head of one of Middelburg’s main clinics, Dr. Mohammed Tayob. Tayob has lived in the area his entire life and says the emissions from the mines have made many of his patients sick. “Children and adults are paying the ultimate price. When we say ultimate price, it’s the neurocognitive, loss of neurocognitive development, children’s infant mortality rate is higher in our …
UNICEF Needs Nearly $4 Billion to Help 73 Million People
The U.N. Children’s Fund is launching its largest-ever appeal for $3.9 billion in life-saving assistance for 73 million people, including 41 million children affected by conflict, natural disasters and other emergencies in 59 countries. This year marks the 30th anniversary of the Convention on the Rights of the Child. The U.N. Children’s Fund says 2019 also marks a year of heightened conflict, with more countries at war than at any time in the past three decades. Among the greatest victims are more than 34 million children affected by conflict or disaster. UNICEF says they are suffering horrific levels of violence, deprivation and trauma with little access to protection and life-saving assistance. UNICEF Director of Emergency Operations Manuel Fontaine says 88 percent of this year’s appeal is for humanitarian crises driven by conflict. He says the single biggest operation is to help Syrian refugees, the largest displacement crisis in the world, and the host communities in five neighboring countries of asylum. “The 2nd largest appeal is for Yemen, which over the past year has seen conditions, unfortunately, that were already catastrophic for children get even worse, if that is possible” Fontaine said. “Eight out of 10 children, which is over 11 million, now require humanitarian assistance in Yemen.” UNICEF’s biggest operations traditionally have been in Africa. But this year the Democratic Republic of Congo places third, followed by Syria and South Sudan. Fontaine says Africa unfortunately is the continent with the biggest gap in funding. He tells VOA African countries are …
У Huawei заперечують звинувачення США
Китайська компанія Huawei відреагувала на висунуті американською владою звинувачення у шахрайстві. «Компанія заперечує, що вона або її дочірня структура, або афільована організація вчинили будь-які з інкримінованих їм порушень законодавства США, зазначених в кожному з пунктів звинувачення», – ідеться в заяві, оприлюдненій у Twitter Huawei. У Huawei також підкреслили, що не знають, про будь-які злочинні дії фінансового директора компанії Менг Ванчжоу, та сподіваються, що американські суди дійдуть того ж висновку. На початку року американська розвідка запідозрила компанії Huawei і ZTE в недобросовісних зв’язках із китайським урядом. У Вашингтоні вважають, що за допомогою обладнання компаній китайська влада може збирати дані, що становлять комерційний або військовий інтерес для Пекіна. Huawei – це один із найбільших у світі виробників телекомунікаційного обладнання і мобільних телефонів. Раніше США внесли компанію в чорний список постачальників обладнання для державного використання. ФБР і ЦРУ також рекомендували американцям не купувати смартфони цих виробників. Від використання інфраструктури Huawei відмовилися в Австралії та Новій Зеландії. Рішення заборонити державні закупівлі обладнання компаній Huawei і ZTE ухвалила також влада Японії. …
«Індекс сприйняття корупції 2018»: Україна піднялася на 10 позицій
29 січня організація Transparency International оприлюднила результати дослідження «Індекс сприйняття корупції 2018». Порівняно з попереднім роком, Україна покращила свої результати – 32 бали та 120 місце серед 180 країн (2017 рік – 30 балів, 130 місце). Втім, серед сусідів Україні вдалося обійти лише Росію, яка з 28 балами займає 138 місце. Решта мають вищі оцінки: Польща – 60, Словаччина – 50, Румунія – 47, Угорщина – 46, Білорусь – 44, Молдова – 33 балів. Виконавчий директор Трансперенсі Інтернешнл Україна Андрій Боровик вважає, що «такий результат не відповідає задекларованим нашою країною прагненням до швидкої євроінтеграції, реформ та очищення від корупції всіх сфер життя». «Якщо ситуація з корупцією в Україні продовжить змінюватися такими темпами, то наздоганяти ту ж таки Польщу доведеться не одне десятиліття. Влада повинна, а громадянське суспільство давно готове подвоїти зусилля на цьому шляху», – вважає Боровик. Зазначається, що показники України покращилися завдяки оцінці ситуації у сфері бізнесу. «Позитивний вплив справило запровадження процедури автоматичного відшкодування податку на додану вартість, розширення сфер роботи систем ProZorro і ProZorro.Продажі та діяльність інституту бізнес-омбудсмена», – зазначили в організації. В ТІ заявили, що українська влада проігнорувала більшість її рекомендацій. «Українська держава не дослухалася до рекомендації підвищити роль громадськості у процесі перевірки кандидатів на посади суддів. Громадська рада доброчесності неодноразово опинялася в ситуації, коли Вища кваліфікаційна комісія суддів ігнорувала її висновки щодо претендентів. Не було посилено Національного антикорупційного бюро України», – заявили в організації. В ТІ стверджують, що публічне протистояння між правоохоронними органами минулого року посилилося, а тиск на журналістів і активістів не припинився. Також, як …
«Індекс сприйняття корупції-2018»: Україна піднялася на 10 позицій
29 січня організація Transparency International оприлюднила результати дослідження «Індекс сприйняття корупції-2018». Порівняно з попереднім роком, Україна покращила свої результати – 32 бали та 120-е місце серед 180 країн (2017 рік – 30 балів, 130-е місце). Втім, серед сусідів Україні вдалося обійти лише Росію, яка з 28 балами займає 138-е місце. Решта мають вищі оцінки: Польща – 60, Словаччина – 50, Румунія – 47, Угорщина – 46, Білорусь – 44, Молдова – 33 бали. Виконавчий директор «Трансперенсі Інтернешнл Україна» Андрій Боровик вважає, що «такий результат не відповідає задекларованим нашою країною прагненням до швидкої євроінтеграції, реформ та очищення від корупції всіх сфер життя». «Якщо ситуація з корупцією в Україні продовжить змінюватися такими темпами, то наздоганяти ту ж таки Польщу доведеться не одне десятиліття. Влада повинна, а громадянське суспільство давно готове подвоїти зусилля на цьому шляху», – вважає Боровик. Зазначається, що показники України покращилися завдяки оцінці ситуації у сфері бізнесу. «Позитивний вплив справило запровадження процедури автоматичного відшкодування податку на додану вартість, розширення сфер роботи систем «ProZorro» і «ProZorro.Продажі» та діяльність інституту бізнес-омбудсмена», – зазначили в організації. В ТІ заявили, що українська влада проігнорувала більшість її рекомендацій. «Українська держава не дослухалася до рекомендації підвищити роль громадськості у процесі перевірки кандидатів на посади суддів. Громадська рада доброчесності неодноразово опинялася в ситуації, коли Вища кваліфікаційна комісія суддів ігнорувала її висновки щодо претендентів. Не було посилено Національного антикорупційного бюро України», – заявили в організації. В ТІ стверджують, що публічне протистояння між правоохоронними органами минулого року посилилося, а тиск на журналістів і активістів не припинився. Також, як вважають …
What Are Dangers of Mining Waste in Brazil?
As rescuers in Brazil search for survivors of a dam collapse, questions abound about the health and environmental risks of the thick, brown, metal-laden mine waste that flowed over buildings. The accident comes after the United Nations and others warned that dam failures in the mining industry are becoming increasingly catastrophic because the structures are growing larger and more numerous around the globe. A look at some of the hazards: What Are Mine Tailings and How Are They Stored? Mine tailings are large volumes of waste rock and other material left behind after companies dig up mineral-bearing ore and run it through mechanical and chemical processes to remove the most valuable components. The tailings are disposed of in ponds or other “impoundments,” often in a mud-like mixture of water and rock known as slurry. A single large mine can produce hundreds of thousands of tons of tailings each day that are typically pumped into a massive holding area behind a dam, where the waste can remain for decades. Tailings piles can be dry enough on the surface to allow people to walk on them, but the inside is often wet, with a jelly-like consistency. A breach can release a runny, muddy material. In Friday’s disaster in Brumadinho, Brazil, the dam that failed was 282 feet (86 meters) high and held more than 400 million cubic feet (11.7 million cubic meters) of waste material, according to its owner, Brazilian-mining company Vale. Are the Tailings Toxic? …
US Announces Sanctions on Venezuela’s State-Owned Oil Company
The U.S. has imposed sanctions on Venezuela’s state-owned oil company, PdVSA, in an increased effort to pressure Nicolás Maduro to relinquish power to Juan Guaidó, now recognized by the U.S. and a number of other nations as the country’s legitimate president. VOA’s diplomatic correspondent Cindy Saine reports from the State Department. …
Brazil Eyes Management Overhaul for Vale After Dam Disaster
Brazil eyes management overhaul for Vale after dam disaster Brazil’s government weighed pushing for a management overhaul at iron ore miner Vale SA on Monday as grief over the hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By Monday night, firefighters in the state of Minas Gerais had confirmed that 65 people were killed by Friday’s disaster, when a burst tailings dam sent a torrent of sludge into the miner’s offices and the town of Brumadinho. There were still 279 people unaccounted for, and officials said it was unlikely that any would be found alive. Brazil’s acting president, Hamilton Mourao, told reporters a government task force on the disaster response is looking at whether it could or should change Vale’s top management. Public-sector pension funds hold several seats on the board of the mining company, and the government holds a “golden share” giving it power over strategic decisions. “The question of Vale’s management is being studied by the crisis group,” said Mourao, who is serving as acting president for some 48 hours while President Jair Bolsonaro recovers from surgery. “I’m not sure if the group could make that recommendation.” Shares of Vale, the world’s largest iron ore and nickel producer, plummeted 24.5 percent on Monday in Sao Paulo, erasing nearly $19 billion in market capitalization. A U.S. law firm filed a shareholder class action lawsuit against the company in New York, seeking to recover investment losses. Igor Lima, a …
Report: ‘Food Shocks’ Increasing in Frequency Over Last Five Decades
Food shocks, or sudden losses of crops, livestock or fish, due to the combination extreme weather conditions and geopolitical events like war, increased from 1961 to 2013, said researchers at The University of Tasmania in a report released Monday. Researchers saw a steady increase in shock frequency over each decade with no declines. The report, published in Nature Sustainability, said that protective measures are needed to avoid future disasters. The authors studied 226 shocks across 134 countries over the last 53 years and, unlike previous reports, examined the connection between shocks and land-based agriculture and sea-based aquaculture. “There seems to be this increasing trend in volatility,” said lead author Richard Cottrell, a PhD candidate in quantitative marine science at the University of Tasmania in Australia. “We do need to stop and think about this.” Extreme weather events are expected to worsen over time because of climate change, the report said, and when countries already struggling to feed their populations experience conflict, the risk of mass-hunger increases. The researchers found that about one quarter of food resources are accessed through trade, and many countries could not feed their populations without imports, making them particularly vulnerable to food shocks of trading partners. As the frequency of shocks continues to increase, it leaves what Cottrell called “narrowing windows” between shocks, making it nearly impossible to recover and prepare for the next one. The report said trade-dependent countries must find ways to store food in preparation for inevitable shocks elsewhere. Countries must invest in …
Caterpillar, Nvidia Warnings Send Wall Street Tumbling
U.S. stocks tumbled on Monday after warnings from Caterpillar and Nvidia added to concerns about a slowing Chinese economy and tariffs taking a bite out of U.S. corporate profits. Shares of Caterpillar, the world’s largest heavy equipment maker, fell 9.13 percent and had their worst day since 2011 after the company’s quarterly profit widely missed Wall Street estimates, hit by softening demand in China and higher manufacturing and freight costs. Caterpillar’s drop accounted for nearly a third of the Dow’s fall, and the S&P industrial index dropped 1.0 percent. Nvidia tumbled 13.82 percent after the chipmaker cut its fourth-quarter revenue estimate by half a billion dollars on weak demand for its gaming chips in China and lower-than-expected data center sales. The Philadelphia semiconductor index slumped 2.09 percent, while the S&P technology index dropped 1.40 percent. “People had some optimism last week on earnings when numbers were pretty good, and today it’s clearly gone the other way. China is such a big part of so many companies’ earnings picture,” said Rick Meckler, a partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey. Also hurting global investor sentiment, China data showed earnings at industrial companies shrank for a second straight month in December, hit by slowing prices and weak factory activity amid a protracted trade war with the United States. As signs of a slowdown in the world’s second-largest economy become stark, investors are pinning their hopes for a compromise between Washington and Beijing on trade when …
Mexico Teachers Block Railway Lines; Food Shortages Feared
Mexico could soon face a shortage of staple foods such as corn flour and wheat flour as railways remain blocked after two weeks of teacher protests in the western state of Michoacan, railroad operator Ferrocarril Mexicano (Ferromex) said Monday. Teachers from the National Committee of Education Workers union began blocking the railroad tracks on Jan. 14 to protest labor demands. That has hampered the distribution of supplies for various industries, including hydrocarbons and grains such as corn, a staple of the Mexican diet, Ferromex spokeswoman Lourdes Aranda said. “There may be a shortage of wheat flour and corn flour in the coming days, meaning that prices for something that is consumed on a daily basis, such as bread and tortillas, may be affected,” she told local television station Televisa. “There is already serious shortage in many other industries, such as steel making and the automotive industry … because they no longer have the necessary inputs to continue operating,” Aranda added. A total of 252 trains have been unable to transport 2.1 million tons of products, with about 10,500 containers stranded in the ports of Manzanillo in Colima state and Lazaro Cardenas in Michoacan, according to railway and shipping industry associations. The data includes figures from Ferromex, which is part of the transportation division of mining giant Grupo Mexico, and Kansas City Southern. Economic losses from the blockade amount to 14 billion Mexican pesos ($736 million), according to the Mexican Confederation of Industrial Chambers. …
НБУ незначно посилив гривню щодо долара
Національний банк України за підсумками торгів на міжбанківському валютному ринку встановив на 29 січня курс на рівні 27 гривень 79 копійок за долар США. Це на дві копійки менше за курс, встановлений на 28 січня. Раніше цього місяця голова Національного банку України Яків Смолій заявив, що обсяги міжнародних резервів України сягнули найвищого рівня за останні п’ять років завдяки зміцненню гривні. За його даними, національна валюта протягом року зміцнилася на 1,4%, що дозволило Нацбанку купувати валюту на міжбанківському ринку. Читайте також: НБУ повідомляє про зміцнення гривні «За рік сальдо наших валютних інтервенцій склало еквівалент 1,4 мільярда доларів США, які були спрямовані до наших резервів. Іншим джерелом стало зовнішнє фінансування: Україна отримала нову програму співпраці з МВФ, яка є фундаментом для подальшого зміцнення макрофінансової стабільності. Завдяки цьому до резервів від міжнародних партнерів – МВФ, Євросоюзу та Світового банку – надійшло 2,4 мільярда доларів США. У підсумку ми маємо найбільший обсяг міжнародних резервів за п’ять років. Це 20,8 мільярда доларів США. Востаннє такі цифри ми бачили восени 2013 року», – розповів Смолій. Зміцненню гривні, пояснив він, сприяла жорстка монетарна політика, сприятливі ціни на український експорт і високий врожай. Читайте також: Навіщо Україні гроші МВФ і скільки доведеться повернути За висновками голови НБУ, економіка України «показала максимальне зростання за останні сім років». Зокрема реальний валовий внутрішній продукт за підсумками трьох кварталів 2018 року зріс на 3,8%. Смолій очікує, що річний показник складе 3,4%, причому інфляція, додає він, вперше за п’ять років знизилася до 9,8%. «Це перевищувало нашу інфляційну ціль, яка складала 6%, плюс-мінус 2%. За підсумками року …