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Question 6-10

Washington, the United States

President Barack Obama is said to announce a three-billion-dollar plan to boost food security and farm productivity in Africa, US officials say. They say the initiative is aimed at alleviating shortages as world food supplies are being stretched by rising demand in Asia’s emerging markets. Foods security is expected to be on the agenda of this weekend’s G8 meeting. The summit near Washington is being dominated by Europe’s debt crisis and possible Greek exit from the Euro Zone. The head of the US Agency for International Development, USAID, Raj Shah said the move shows the administration’s commitment to boosting world food production as rising wealth in Asia drives consumption.

Madrid, Spain

Spain’s government called for come Friday, a day after Rating Agency Moody’s downgraded 16 Spanish banks in the latest sign of the stress in Europe. Among those who saw their ratings lowered were the country’s two largest banks. Had a cabinet meeting Friday, Spanish ministers agreed that the top priority regarding the economy is controlling the deficit. The downgrades commented rising concerns about the political and economic turmoil in Greece and the potential ripple effect of that crisis on nations like Spain and Italy that are struggling with low growth and big debts. Moreover, the realistic crisis that began in 2008 is ongoing and unemployment has risen to very high levels with rising risks to white-collar employment affecting the outlook for banks’ household lending.

Sao Paulo, Brazil

President Dilma Rousseff plans to cut and simplify taxes for electricity producers, two senior officials told royals as part of the strategy to reduce Brazil’s high business costs and stimulate its struggling economy. Brazil has been on the brink of recession since mid 2011 as high taxes and overvalued exchange rate and other structural problems squeeze what had previously been one of the world’s most dynamic emerging economies. Rousseff has in recent month announced targeted tax cuts for stagnant sectors such as the automotive industry. Embracing an incremental approach to reform that has strong criticism from the investors who say more drastic changes are needed.

New York, the United States

Children from racial and ethnic minorities now account for more than half the birth in the US according to estimates of the latest US census data. Black, Hispanic, Asian and mixed-race birth make up 51% of new arrivals in the year ending July 2011. It puts non-Hispanic white-birth in the minority for the first time. Sociologists believe the ongoing economic slowdown has contributed to a great decline in birthrates among white people. The US Census Bureau recorded two million babies born to minorities in the year to July 2011, just over half of all births, compared with 37% in 1990. US birth rates have been declining but the drop has been larger for white people. The nation’s minority population now makes up 36% of the total US population.

London, the United Kingdom

Oil prices slipped towards 107 dollars a barrel on Friday as investors fled risky growth sensitive assets on fears that Greece would leave the Euro, although short covering provided some support for brand. Brand crude was down 16 cents to 107 dollars and 33 cents a barrel after slipping to its lowest level for the year at 106 dollars 40 cents earlier in the session. Traders and analysts said short covering was providing a floor for brand futures but the overall trend remains to the down side given the uncertainty over what would happen with Greece.

6. Which of the following is not expected to be on the agenda of this weekend’s G8 meeting near Washington?

7. After Moody lowered the ratings of Spanish banks, what is the top priority regarding the economy as agreed by Spanish ministers?

8. What does Brazilian president plan to do to stimulate its struggling economy?

9. What can we know from the news about the new-born population in the United States?

10. At what price did brand crude oil end Friday on London market?

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