South/Central America

TO GO WITH AFP STORY BY JEAN-MARC MOJON

African coffee producers suffer from low prices

The increasing output in Brazil and falling prices are posing a major challenge to African coffee producers. Coffee exports revenues are a major source of income for several African nations. The coffee production in Brazil is forecast to reach 52 million of bags in 2016 from 43.2 million bags in 2015.

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US President Barack Obama, with President of Colombia Juan Manuel Santos, hosts a reception for Plan Colombia

Colombia will receive $450 million fund from the United States

President Barack Obama said he would ask Congress for about $450 million in funding to help Colombia to reach an economic stability and peace in the country. Besides that the 'Plan Colombia' policy will also be changed to 'Peace Colombia' policy from now on.

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City Tour Of The 'Connected City' Ahead Of Mobile World Congress 2014

Telefonica Brasil SA Expects a Sales Growth Amidst Economic Slowdown

Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.

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China's Stock Market Rebounds To 3,400 Points

The US Dollar worst single day drop prompted Asian shares to climb higher as oil price increases

The US Dollar plunged to its worst single day drop outside of the 1998 and 2008 crisis today due to speculation regarding 'no rate hike' policy that the Federal Reserve might be implementing for this year. The plunged however, cause a reversal effect helping oil price to increase and help boosting Asian stocks.

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Zika Virus

Zika and Other Mosquito Borne Diseases’ Spreading May Turn Vigorous With Climate Changes

Zika has appeared as a nightmare to many Latin American countries. The number of Zika infected has reached 4 million landmarks since reporting of the first case just eight months earlier. Absence of proper vaccine has made the situation much more terrible. Recently, scientists have escalated the fears revealing climate change may also contribute to the spread of Zika and other mosquito borne diseases.

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TOPSHOT-UGANDA-HEALTH-ZIKA

Oxitec’s Gene Modified Mosquitoes Appear As Lone Mean To Fight Against Spread of Zika Virus

WHO on Thursday has warned for probable spread of Zika virus across the North and Central American countries. Ahead of rising concerns for Zika spreading, drug makers and scientists have commented that manufacturing of an appropriate vaccine may even require a decade. These warnings has opened a huge business potential for Oxitec, an Intrexon subsidiary. Oxitec’s gene modified mosquitoes are capable of ensuring security against Zika for large populations.

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VENEZUELA-COLOMBIA-BORDER-SMUGGLING-SECURITY

Gasoline smuggling dents export revenues for Venezuela

South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.

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A Swarm Of Locusts Arrives In Israel

Argentina Is Facing The Worst Ever Locust Plague In 60 years

Argentinean farmers are reportedly facing the worst kind of locust plague ever in the last 60 years. The plague if not contained could lead to severe crop infestation, resulting in starvation and famine.

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 Brazil Faces New Health Epidemic As Mosquito-Borne Zika Virus Spreads Rapidly

WHO Warns Zika Virus To Spread Across The US, Scientists Require A Decade Making Vaccine Available For Public

Aedes mosquitoes are the bearer of Zika virus which is available across the US. WHO warns the US for a probable Zika virus induced epidemic. Brazil has appeared as the most Zika affected country. The US and other governments have issued a travel alert for the pregnant women forbidding to visit the Zika prone region. The travel alert has offbeat the organizers of the Rio de Janeiro olympic scheduled to be held in August.

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Yellen Testifies At Joint Economic Committee Hearing On Economic Outlook

Overseas central banks are Fed's partner to accomplish rates

The Federal Reserve Bank have found a new partner in its struggle to confirm interest rate increase screens through the US economy. The trend of Fed borrowing billions daily to set a base under its standard policy rate has been conquered by foreign monetary authorities, Bloomberg said.

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IMF Director Christine Lagarde Holds Meeting In Nigeria

Nigerian Minister Claims $9 Billion Stolen from Nigerian Economy

Nigeria is one of populated country in Central Africa. The country is rich with the natural resources like oil and gas. But it faces a serious problem, that is corruption

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World Leaders Address The UN General Assembly

Venezuela’s President to Declare Economic Emergency

The slump of oil price has contributed to economic crisis in Venezuela. Inflation rate in the country has reached 141 percent. This situation has made president Venezuela to take some action.

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UAE-DUBAI-CHINA-XIAOMI-PRODUCTS

Retailing Giants Shut Hundreds of Stores Down In US & Elsewhere, Job Cutting Feared

Walmart and Macy’s have announced shutting hundreds of stores on Friday and thus lingers the list with other retailing giants like Sears and Target. Surprising growth of ecommerce has reduced growth of the departmental stores and shopping malls. With the announcement of the World’s largest retailer, traditional stores have been started to witness the blink of extinction.

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President of Venezuela Maduro

Economic Emergency In Venezuela Aims To Keep Maduro’s Anti Poverty Programs Alive

Just Prior to the State of Address to the Congress, Venezuelan President Nicolas Maduro has imposed economic emergency for 60 days. The concerned decree is aimed to allocate funds to keep alive the socialist government’s signature anti poverty programs. If opposition led Congress denies the imposed decree, Maduro will have to appeal to the Supreme Court of justice for its continued effectiveness.

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Consumer Spending Squeezed As Economy Falters

Inflation in Argentina at historic high 21%; government targets 5% by 2019

Argentina is struggling from soaring inflation, which is hovering at 21 percent. The inflation rate is expected to reach 25 percent in 2016. The government is targeting to bring it down to five percent by 2019. The soaring prices are forcing consumers to pay everything in installments.

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