Wheat prices surged to a new record high on Monday after India decided to prohibit exports of the commodity as a heatwave hit production. The price climbed to €435 ($453) per ton as the European market opened. Soft red winter wheat for July delivery rose 4.2%. New Delhi said this …
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Skyrocketing food prices worldwide are the result of Russia pursuing a hybrid war strategy, German Foreign Minister Annalena Baerbock claimed on Saturday following a G7 meeting. However, Moscow immediately hit back by blaming Western sanctions for the spike. “Russia made a conscious decision to turn the war against Ukraine into …
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Claims by high-ranking officials that the Russian economy is crashing are completely inaccurate, according to former Austrian foreign minister Karin Kneissl, who spoke to RT about the global crisis. She explained that the Russian economy is an important part of the global economy, especially though not exclusively due to its …
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The international sanctions campaign to punish Russia over the Ukraine conflict will backfire, causing suffering by people around the world while failing to promote peace in the former Soviet republic, a top Chinese diplomat has told the UN Security Council. “Sanctions will not bring peace but will only accelerate the …
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Russian Sports Minister Oleg Matytsin has warned “cunning” outside forces against attempting to isolate his country, stressing that global sport cannot hope for successful development without Russian participation. A host of federations across a variety of sports have imposed bans on Russian and Belarusian athletes in the wake of Moscow’s …
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Western sanctions against Russia and Moscow’s retaliatory measures will have big implications for the global energy market, Fatih Birol, Executive Director of the International Energy Agency (IEA), said in Vienna on Friday. “I believe that we are in the middle of the first global energy crisis. In the 70s we …
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The World Health Organization is currently the only body that can create and manage a “top-notch” multi-domain team of health experts to detect, prevent and battle future pandemics, the Microsoft co-founder said, bemoaning its underfunding despite beeing the top donor. With over 6.2 million people estimated to have died from Covid-19 and …
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The military spending of all nations combined set a new record in 2021, exceeding the $2 trillion mark for the first time ever, the Stockholm International Peace Research Institute (SIPRI) revealed in a report published on Monday. Governments spent a total of $2.113 trillion on weapons last year. The top …
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Global growth is expected to decelerate to 3.2% this year, the World Bank said on Monday, citing the impacts of the conflict in Ukraine, inflation, and the lingering effects of the coronavirus pandemic. The bank had previously projected 4.1% global economic expansion in 2022. World Bank President David Malpass told …
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Indonesia’s ban on exports of palm oil, the world’s most consumed edible oil, is set to severely exacerbate the already-squeezed supply of cooking oil across the globe. Developing nations are expected to take the biggest blow.The world’s biggest producer of palm oil will effectively ban exports of the good starting …
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