miércoles, 16 de febrero de 2011

The rise in food prices fell to 44 million people in poverty

The increase in food prices, close to record levels of 2008, amounted to 44 million people in developing countries under the poverty line, according to a report released Tuesday by the World Bank (WB).World Bank President Robert Zoellick, has called the situation "dangerous" and has urged the leaders of the G20 that will meet within a few days in Paris to consider the issue of food as an issue "fundamental" to the agenda .
According to the latest World Bank report, the global food prices have risen by 15% between October and January, which means 29% more than last year.
"The rising prices are pushing millions of people into poverty, especially the most vulnerable who spend over half their income on food," said in conference call Zoellick the  expensive food and the poverty people..

Poverty people in the Word



World Bank chief stressed that the "increased price volatility due to higher inventories and increased demand, and compounded by the adverse weather conditions," the issue of food can turn into a "big problem."
Foods that have shown an increase is particularly wheat, which has doubled in the last six months, and corn, which has soared 73%, or sugar, which has increased more than 20% the  expensive food and the poverty people.
However, the WB has indicated that the moderate behavior of the prices of rice, whose prices have risen at a slower pace, has kept the number of people who have crossed the poverty level is lower.

The agency has acknowledged that the rise in prices caused 24 million people out of poverty due to higher revenue, but stressed that those affected by this rise was more, 68 million people, leaving the net 44 million people living below the poverty line.
The WB puts the poverty threshold income of less than $ 1.25 a day and the  expensive food and the poverty people..

The World Bank has recommended measures to mitigate the effects of this sharp increase "the extent of food security programs, the removal of export restrictions and reducing the use of biofuel

Food and poverty people

Zoellick has not linked this rise in prices in the recent protests in several Arab countries like Egypt and Tunisia, but has acknowledged that failure to address the food crisis "could be used to increase pressure on fragile political systems and join the grievances. "
For its part, the nongovernmental organization Oxfam has highlighted the speculation as a major cause of the rising price of food.

"The global grain stocks are still relatively healthy. Circumstantial evidence points to speculation as responsible for this crisis in food prices," said Luc Lampriere in a statement, a spokesman for Oxfam.The nongovernmental organization Oxfam urged the leaders of major economies in the world, will gather in Paris to take action on rising prices before they escape the reach of the poorest.

"If you earn $ 20 an hour, the high prices will end up affecting your pocket. If you win $ 20 a month, this price increase can mean the difference between eating or not, has ruled Lampriere.

miércoles, 5 de enero de 2011

The EU wants the big banks are more controlled


The European Union wants to give national regulators more power to limit the risk of banks deemed "too big to fail" as part of its plan to protect the public finances of future financial crises.
In particular, the EU is looking for supervisors, as the Bank of Spain, new products may block, restrict the claims or force these banks considered systemic to leave some businesses, according to a draft proposal cited Bloomberg.

In Spain, one such regulation would affect at least Santander and BBVA, the two entities considered "at risk of systemic spread to other entities for its large size if they have problems-for the G20 last November and the EU Banks controller .

EU Banks controller

National banking regulators could require "a change of legal and operational structures" to entities that need "extraordinary financial aid"during a crisis, says the specializing in economic data.
"They are saying clearly between the lines that if you believe that any institution is too risky to be rescued could be segregated, "says a legal expert in financial regulation at Bloomberg and the EU Banks controller .Depending on the environment, it is expected that the European Commission to present this draft, which is dated in December, this week. Later, you hear the view of banks, consumers and investors before submitting a final proposal to discuss with the 27 EU members this year.
European countries have had to spend more than $ 5 billion -3.7 billion euros to help banks since the financial crisis that erupted with the collapse of Lehman Brothers in 2008 and the EU Banks controller .

domingo, 2 de enero de 2011

Estonia, new euro country

Estonia adopts the January 1 the euro and thus became the country number 17 in the eurozone, which will have its entry with 331 million inhabitants.
The Baltic state has failed to meet the convergence criteria required despite the economic situation, but joins the single currency at its moment of greatest crisis for debt problems. Irreversible exchange rate is fixed at EEK 15.6466 per euro.
Despite the success of entry into the euro, Economic Affairs Commissioner, Olli Rehn, has recommended to the authorities of Estonia to continue with sound macroeconomic and fiscal policies and stable to avoid creating imbalances and take advantage of the single currency.

Estonia Economy

To enter the euro, Estonia has commissioned about 45 million banknotes and 194 million coins, which have been supplied by the Central Bank and the Mint of Finland.During the first two weeks of the year, the Estonian kroon and the euro will circulate in parallel. However, it has asked retailers to return from the first change in euros to accelerate the transition and reduce its cost.

To reassure consumers concerned about rising prices and potential abuses in the transition period, shops, banks and local authorities have signed an agreement in which they undertake not to raise prices without justification during the transition period. Commission recommends that this initiative will be extended to SMEs.The decision to accept the entry of Estonia into the euro was adopted in July after finding that the country meets all the criteria. As for inflation, between March 2009 and March 2010, the average rate in Estonia was 0.7%, well below the reference value set at 1%. In addition, Brussels believes that price stability is sustainable and the estonia economy.

UE Economy

As regards public finances, the deficit stood at 1.7% of GDP in 2009, despite a drop of unprecedented growth. The public debt amounted in 2009 to 7.2% of GDP, well below the 60% threshold and will remain at around this level but will increase slightly from 2013.The euro was launched in 1999 with the participation of 11 countries: Spain, Belgium, Germany, Ireland, France, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland. The first expansion came in 2001 with Greece. Banknotes and coins began circulating in 2002. In 2007 Slovenia joined in 2008, Cyprus, Malta and Slovakia in 2009 and the estonia economy.

miércoles, 15 de diciembre de 2010

A plan to triple in 2012 Chinese tourism

The Ministry of Industry, Tourism and Commerce wants the 89,523 Chinese tourists arriving in Spain in 2009 to be 300,000 in 2012 and one million in 2020. To this end, the holder of the portfolio, Miguel Sebastian, has used his official visit to China to present the China Tourism Plan. However, this niche market grew last year by 2.9% over the previous 470% in the last decade.

This package will include the development of guides on Spain in Mandarin, adjusting meal times, training for tour guides and exploring ways to increase the frequency of direct flights between China and Spain.
For now, Spain has two tourist offices in China, in Beijing and Guangzhou, although the government is considering strengthening the promotion campaign in China and the Chinese tourism.
Spain Tourism

Spain is not a relevant target of China's foreign investment, which represents less than 1% of foreign direct contribution, while Spain goes to China for 1.8% of direct investment. The minister "trusts" that the forthcoming visit to Spain of Chinese Vice Premier Li Keqiang, are finally closed several contracts which will provide 1,000 million euros in investments in China.
One of the awards "unlocked thanks to work done by all parties is that of Villar Mir, which plans to invest 860 million euros in two factories of silicon and power complex and the Chinese tourism..

Chinese tourism

Another contract is closed and the Spanish company ENSA nuclear equipment and SENPEC China, which will provide two steam generators at a nuclear future China 100 million euros and the Chinese tourism..
For his part, stressed the importance Sebastian to be opening an office in Spain in the Chinese bank Industrial and Commercial Bank of China (ICBC), scheduled for January 24, to attract investment from China to Spain and to make Bridge for SMEs that decide to export to China.

martes, 7 de diciembre de 2010

U.S. wins U.S. $ 12,000 million to the rescue of Citigroup


The Treasury Department United States has sold the last package of shares held in Citigroup in exchange for their support during the financial crisis.
Have entered the public purse of $ 10,440 million (7.828 million euros) for the sale of 7% of shares still owned by the state, so the gross profit of the whole speech was about 12,000 million dollars (8.985 million euros) and the U.S. Economy.

City Group

The government injected between 2008 and 2009 to 45,000 million dollars in the state, the operation which took control over 36% of the capital stock of Citigroup. Citi paid $ 20,000 million in preferred stock and another 25,000 billion dollars were converted into common shares of the bank, which were held by the U.S. Treasury and the U.S. Economy..

U.S. Economy


"With the sale of remaining shares of Citigroup have had the opportunity to achieve substantial benefits for taxpayers and avoid future risks," said Tim Massad, representative of the Treasury and the U.S. Economy..
"With this transaction, we advance our goals of recovering funds (TARP, created in the Bush administration to save the banks), to protect the interests of taxpayers and to end government involvement in the companies," he said and the U.S. Economy.