DIRS.INFO The most relevant business & tech news

☆ How European Businesses Survived the Ukraine War and Last Year’s Energy Shock
▼ + stars: | 2023-03-25 | by ( Tom Fairless | Photographs Patricia Kuhfuss For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Claas, a manufacturer of agricultural machinery, increased output at its main German factory by 30% last year. HARSEWINKEL, Germany—When Russia invaded Ukraine, Russian President Vladimir Putin was counting on soaring energy prices and falling confidence to sink European companies, undermining the West’s support for Kyiv. One year on, many European companies have overcome the blow after slashing energy use and pivoting to a friendly and booming U.S. market. Such resilience has helped shore up political and popular support in Europe for Ukraine.

[1/2] Staff members chat behind Chinese and U.S. flags displayed at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2021. REUTERS/Florence LoBEIJING, March 23 (Reuters) - China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. She said this was needed to "create the conditions for enterprises from both sides to expand trade cooperation and reduce the trade deficit through dialogue". The goods trade gap with China widened $29.4 billion to $382.9 billion in 2022. Trade tensions between the United States and China have been simmering ever since the US-China Phase One Trade Deal expired at the end of 2021.

The aim was to combat a global food crisis that was fueled in part by Russia's Feb. 24, 2022, invasion of Ukraine and Black Sea blockade. The United Nations and Turkey said on Saturday that the deal had been extended, but did not specify for how long. [1/2] Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Turkey, October 31, 2022. Dujarric said on Saturday that the United Nations was strongly committed to implementing both the Ukraine Black Sea grain deal and the pact with Moscow and urged "all sides to redouble their efforts to implement them fully." Ukraine has so far exported nearly 25 million tonnes of mainly corn and wheat under the deal, according to the United Nations.

☆ Ukraine war live updates: Russia extends grain export deal for 60 days; Bakhmut fighting 'hard' and 'very painful,' Kyiv says
▼ + stars: | 2023-03-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

A vital grain export deal between Ukraine and Russia has been extended for 60 days, according to Russia's deputy foreign minister, who was quoted by a Russian news agency. The deal, known officially as the Black Sea Grain Initiative, has facilitated the export of agricultural products, such as wheat, corn and sunflower oil, from Ukraine via the Black Sea. Early on in the war a blockade on such exports contributed to global food shortages and rising prices. The grain initiative, brokered by Turkey and the United Nations last July, has enabled millions of tons of agricultural products to be exported from Ukraine, alleviating shortages elsewhere. Moscow has complained that international sanctions on its logistics, insurance and payments industries have continued to impede its own agricultural exports of grain and fertilizers.

☆ Climate change to cost Germany up to 900 billion euros by 2050 - study
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

BERLIN, March 6 (Reuters) - Extreme weather caused by climate change could cost Germany up to 900 billion euros in cumulative economic damage by mid-century, a study showed on Monday, as Europe's biggest economy seeks climate adaptation measures to cut the damages bill. The study, by economic research companies Prognos and GWS and Germany's Institute for Ecological Economic Research, comes as Berlin works on a climate adaptation strategy soon to be presented by the environment ministry. Germany's economy and environment ministries cited the study as showing that extreme heat, drought and floods could cost between 280 billion euros ($297.81 billion) and 900 billion euros between 2022 and 2050, depending on the extent of global warming. Climate change extreme weather events have already cost Germany at least 145 billion euros between 2000 and 2021, 80 billion of which were in the past five years only, including the 2021 floods in the states of Rhineland-Palatinate and North Rhine-Westphalia, the economy ministry said. The study did not mention how much climate adaptation measures could cost the federal and state governments.

☆ Most of Ukraine's winter grain crops in good condition - scientists
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Sofiia GatilovaKYIV, March 6 (Reuters) - Most of Ukraine's winter grain crops - winter wheat and barley - are in good condition and could produce a good harvest, Ukraine's academy of agricultural science was quoted as saying on Monday. Ukraine is a traditional grower of winter wheat which accounts for around 95% of the country's overall wheat output, and key for both local consumption and exports. Of the winter wheat sown last year, only 4.9 million hectares were harvested in Ukrainian-controlled territory, as Russian forces occupied some areas. Ukraine's wheat harvest declined to 20.2 million tonnes in 2022 from 32.2 million tonnes in 2021. Overall grain output fell to around 54 million tonnes from a record 86 million in 2021.

[1/6] A man arranges the flags kept outside the venue for G20 foreign ministers’ meeting in New Delhi, India, March 2, 2023. The Russian foreign ministry said Lavrov and Blinken spoke "on the move" but did not hold negotiations or a meeting, Russian news agencies reported. News of the exchange came at the end of the day-long G20 meeting which, as expected, was overshadowed by the Ukraine war. "Unfortunately, this meeting has again been marred by Russia’s unprovoked and unjustified war against Ukraine," Blinken said. French Foreign Minister Catherine Colonna said the war in Ukraine had hurt "almost every country on the planet, in terms of food, energy, inflation".

REUTERS/Lisi NiesnerBILOZERKA, Ukraine, March 1 (Reuters) - When Ukraine recaptured Kherson in November, Andrii Povod returned to find his grain farm in ruins. The institute's Baliuk said the war damage could lead to an alarming loss of fertility. ECHOES OF WORLD WAR ONEA working group of soil scientists created by the Ukrainian government estimates it would cost $15 billion to remove all mines and restore Ukraine's soil to its former health. If studies of damage to land during World War One are anything to go by, some areas will never recover. To be sure, World War One lasted four years, and the war in Ukraine only one year so far, but lead remains a key component of many modern munitions, Rintoul-Hynes said.

☆ UK begins long and uncertain road back from Brexit
▼ + stars: | 2023-02-27 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

LONDON, Feb 27 (Reuters Breakingviews) - Britain is beginning the long and uncertain road back from Brexit. Changes to the so-called Northern Ireland Protocol were inevitable. There’s still scope to improve Johnson’s trade deal, struck in 2019. The route back is uncertain, but the symbolic importance of the Northern Ireland deal is not. The agreement marks a “new chapter” in relations between the UK and European Union, Sunak said in a press conference.

☆ A year into the war, Ukraine and the West prepare for the biggest reconstruction since World War II
▼ + stars: | 2023-02-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

People help to clean up debris at a bus station damaged after a shelling, amid Russia's attack on Ukraine, in Kherson, Ukraine February 21, 2023. Lisi Niesner | ReutersOne year since the start of Russia's full-scale invasion, Ukraine's economy and infrastructure are in tatters, with the government and its allies planning the largest rebuilding effort since World War II. The International Monetary Fund estimates that the Ukrainian economy contracted by 30%, a less severe decline than previously projected. IMF Managing Director Kristalina Georgieva visited Ukraine this week, meeting with President Volodymyr Zelenskyy and NBU Governor Andriy Pyshnyy, among others. It is difficult to predict the size of this debt reduction as it depends on the state of the Ukrainian economy at the time the restructuring is agreed," Nasser said.

☆ Ukraine wants one-year grain deal extension to include new ports
▼ + stars: | 2023-02-22 | by ( Pavel Polityuk | ) www.reuters.com time to read: +3 min

[1/2] A grain ship carrying Ukrainian grain is seen in the Black Sea, amid Russia's attack on Ukraine, near Ukrainian port of Odesa, Ukraine November 2, 2022. The Black Sea Grain Initiative brokered by the UN and Turkey last July allowed grain to be exported from three Ukrainian ports. At the same time, the UN, Turkey and Ukraine are ready to conduct 40 inspections per day if necessary. Ukraine exports around 3 million tonnes of agricultural products a month under the deal, but Vaskov said Ukraine was able to export 6 million tonnes a month from the ports of Odesa region and boost it to 8 million tonnes if Mykolaiv joins. Despite a decrease in the 2022 grain harvest to around 54 million tonnes from a record 86 million in 2021, at least 30 million tonnes of grain are still in silos and could be exported, according to the agriculture ministry.

☆ Iranian foundation offers land to Salman Rushdie's attacker - state media
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Feb 21 (Reuters) - An Iranian foundation has praised the man who attacked novelist Salman Rushdie last year, leaving him severely injured, and said it will reward him with 1,000 square metres of agricultural land, state TV reported on Tuesday through its Telegram channel. Some Muslims saw passages in the novel about the Prophet Muhammad as blasphemous. Khomeini's successor, Supreme Leader Ayatollah Ali Khamenei, was suspended from Twitter in 2019 for saying the fatwa against Rushdie was "irrevocable." The man accused of attacking the novelist has pleaded not guilty to second-degree attempted murder and assault charges. Reporting by Dubai Newsroom; Editing by Michael Georgy and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ In Argentina's drought-hit fields, billion dollar losses and farmers going under
▼ + stars: | 2023-02-16 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

[1/5] Dried sunflowers are seen on a farm, amid Argentina's worst drought in sixty years, in Tostado, northern Santa Fe Argentina February 8, 2023. The wheat harvest was already slashed in half by drought. Like many farmers, Giailevra - who has experienced bad droughts before - has seen his livelihood hammered over the last year. Many farmers in the area say they have lost early-sown corn, wheat and soy, so to rake back income they have planted fields with more drought-resistant cotton. The government has rolled out some tax relief measures for farmers, though with depleted state coffers has limited firepower.

☆ Brazilian fishermen follow instructions from wild dolphins to know where to throw their nets, video shows
▼ + stars: | 2023-02-10 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

A video shows a rare example of wild dolphins collaborating with humans to fish in a small lagoon in Brazil. The dolphins learned how to tell the humans exactly when to throw their nets to catch the most fish. The fishers need the dolphins to know when to cast their netsFishermen toss these circular nets to catch the fish in the water. After the net is cast, the dolphins can catch stray fish or pick a few fish out of the net. The Laguna dolphins are about 13% more likely to reach old age, per the study.

☆ The hidden price of eggs: How high costs may trickle into other foods
▼ + stars: | 2023-02-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The average price for all types of eggs ballooned 60% in 2022, according to the consumer price index. Higher egg prices are largely the result of a deadly outbreak of bird flu in the U.S., economists said. Since February 2022, bird flu killed more than 44 million hens in commercial table-egg-laying flocks, according to the U.S. Department of Agriculture. But there isn't a one-to-one relationship between higher egg prices — whether shelled or in another form — and the cost of other foods. In short: Eggs are one of many factors in inflated consumer food prices.

Bulk exports including corn, soybeans, wheat, cotton and sorghum totaled 146 million tonnes, down 6% from 2021. The average exported cost of U.S. corn, soybeans and wheat all hit new records in 2022 as a result. CHINAU.S. agricultural and related exports to China in 2022 reached a record $40.85 billion, up 14% from the prior high set last year. U.S. corn exports to China last year were down 14% by volume from 2021’s high, and forward bookings are relatively very light. U.S. beef exports to China hit a record 244,000 tonnes in 2022, up 28% on the year and worth $2.16 billion, surpassing pork’s $1.36 billion.

☆ Here's why you don't bring a trader knife to a bull gunfight — and other lessons for navigating this new market
▼ + stars: | 2023-02-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

What matters in a real bull market, though, is the company and the sector it's in, not the S & P 500 . So, the first lesson is to understand that in a bull market the buyer gets the benefit of the doubt, not the seller. Secondly, in a bull market you have to fight the temptation to trade down. So, again, know that in a bull market the sellers better have a lot of conviction or else they will lose the opportunity to make money. It's our job to keep you from doing so by helping you to navigate this bull market that started in October 2022 — a bull market that almost no one seems to recognize except us.

☆ China says it successfully cloned 3 highly productive ‘super cows’
▼ + stars: | 2023-02-01 | by ( Nectar Gan | ) edition.cnn.com time to read: +2 min

They were cloned from highly productive cows from the Holstein Friesian breed, which originated in the Netherlands. The chosen animals are capable of producing 18 tons of milk per year, or 100 tons of milk in their lifetimes. The scientists made 120 cloned embryos from the ear cells of the highly productive cows and placed them in surrogate cows, according to the Technology Daily. Jin Yaping, the project’s lead scientist, called the birth of the “super cows” a “breakthrough” that allows China to preserve the very best cows “in an economically feasible way,” the state-run newspaper Global Times reported. But some highly productive cows are not identified until the end of their lives, making it difficult to breed them, Jin said.

☆ China claims it successfully cloned 3 'super cows' that make vastly more milk than normal cows do
▼ + stars: | 2023-02-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

China claims it's cloned three cows that make up to 18 metric tons of milk per year. "Super cows" are hard to breed since they're identified at the end of their lives, per state-affiliated media. The scientists say they plan to build a herd of 1,000 super cows in the next two to three years. The calves were cloned from "super cows" — unusually productive cows that can make 18 metric tons of milk per year and 100 tons of milk in their lifetimes, pro-government tabloid The Global Times reported. "We plan to take two to three years to build up a herd comprised of over 1,000 super cows," Jin said, per The Global Times.

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates had pledged a staggering $30 billion in investment in the Asian country. The news came after the leaders of the two nations held talks in Abu Dhabi on Sunday, in a landmark trip that marked the first-ever state visit to the UAE by a South Korean president, according to a statement from Yoon’s office. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office. Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products. Going forward, South Korea “will be a key partner in the global supply chain,” using its expertise in sectors such as semiconductors and steel-making to help stabilize supply chains, he pledged.

☆ School lunch, eggs and airfare: Why inflation soared for 10 items in 2022
▼ + stars: | 2023-01-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%. Overall food prices have been pressured on many fronts, too, funneling into school meals. Oil prices retreated in the second half of the year, though, as fears mounted of a possible recession and an accompanying weakness in oil demand. Monthly milk production among major suppliers fell each month from September 2021 to June 2022, according to the U.S. Department of Agriculture.

In a statement Tuesday, the agriculture ministry said 9.98 million animals had been killed this season, surpassing a previous record of 9.87 million that were slaughtered in fiscal 2020, during a previous bird flu crisis. The National Federation of Agricultural Cooperative Associations, known as Zen-Noh, gave a higher tally, saying approximately 10.9 million birds had been killed as of Tuesday night. “The market price is expected to soar.”The spread of bird flu has already pushed up egg costs around the world in recent months. In Japan, wholesale prices for eggs reached a record high last month as shipments dropped, according to public broadcaster NHK. Avian flu is caused by infections that occur naturally among wild aquatic birds, according to the Centers for Disease Control and Prevention.

☆ Deere & Co. will allow farmers to repair their own equipment
▼ + stars: | 2023-01-08 | by ( P.J. Huffstutter | ) www.reuters.com time to read: +3 min

CHICAGO, Jan 8 (Reuters) - The American Farm Bureau Federation and machinery manufacturer Deere & Co (DE.N) signed a memorandum of understanding on Sunday that ensures farmers have the right to repair their own farm equipment or go to an independent technician. The Farm Bureau's memorandum of understanding with Deere "will ensure farmers everywhere are able to repair our own equipment," Farm Bureau president Zippy Duvall said, speaking at the federation's convention in Puerto Rico. It benefits farmers and independent repair facilities in the United States and Puerto Rico, for the "lawful operation and upkeep of Agricultural Equipment," the MOU states. For Deere and rival equipment manufacturers such as CNH Industrial and AGCO Corp, repairing machinery has given them a solid boost for their parts and services business. Duvall said Farm Bureau officials will meet regularly with Deere to discuss "solutions to the challenges farmers are facing in repairing their equipment", and said he hoped other farm equipment makers would take similar steps.

☆ Citi strategist expects weakness in early 2023 is a buying opportunity. Here are his large-cap stock picks
▼ + stars: | 2023-01-05 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

With recession risks in focus for investors positioning for 2023, Citi strategist Scott Chronert refreshed his large-cap stock picks for the year ahead. According to a Tuesday note, the strategist projects the broader market index will hit 3,700 mid-year, while rising to 4,000 at year-end. For investors, that means any volatility in the first part of 2023 could be used to their advantage. Chronert added T-Mobile to the bank's large cap focus list, saying the telecommunications stock is a defensive pick. Meanwhile, HCA Healthcare is a defensive pick expected to benefit from "improving labor supply" this year, according to the note.

☆ Ukraine sees speeding up inspections as key to Black Sea grain deal
▼ + stars: | 2023-01-04 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

KYIV, Jan 4 (Reuters) - Ukraine's efforts to increase exports under the Black Sea grain deal with Russia are currently focused on securing faster inspections of ships rather than including more ports in the initiative, a senior Ukrainian official said on Wednesday. Ukraine is a major global grain producer and exporter, but production and exports have fallen since Russia invaded the country last February and started blockading its seaports. Three leading Ukrainian Black Sea ports in the Odesa region were unblocked in July under an initiative between Moscow and Kyiv brokered by the United Nations and Turkey. Kyiv accuses Russia of carrying out the inspections too slowly, causing weeks of delays for ships and reducing the supply of Ukrainian grain to foreign markets. "Ukraine focuses on normalising inspections rather than opening new ports," the senior Ukrainian official said.

Search resuls for: "of Agricultural"

25 mentions found