Author: mike

Wanted Live Cattle

Need offer of Live Cattles to be exported to Turkey On CIF basis working with  LC. and possible FOB on board.

From South American Countries only and in order of preferences as follow: Argentina, Paraguay, Colombia, Brazil.

Need offers for Slaughter Cattles 450-650 kg under 24 months of age, to start with 10.000 heads.

Need Offers for Feeder Cattles  160-260 kg under 12 months of age, to start 20.000 heads.

Offers must contain Price, shipping method, timing including the time for quarantine CIF price and FOB on board of a vessel.

we must have both prices CIF and FOB, what will be the ultimate number of deliveries per year under contract.

Please include in your offer the race of the Cattle and Male and female, how do you provide the passport of the cattle etc..

Full details, please.

thank you

send your offers to: cattle@iseetrust.com

thank you

 

 

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Argentina Economic Outlook.

Argentina Economic Outlook

February 13, 2018

Recent data suggest economic growth cooled in the fourth quarter of 2017. Industrial production barely increased in December after eight consecutive months of expansion, and the index of economic activity lost steam in November. The external sector closed 2017 with the largest trade deficit on record and will likely cause the current account deficit to swell in Q4. Argentina’s widening current account deficit is becoming increasingly worrying, not only because it drives up the economy’s vulnerability to external shocks, but also because it is putting additional pressure on the Argentine peso and the country’s ballooning external debt obligations. The currency continued to depreciate in January at a moment when subsidies for basic products, such as energy and transportation, were slashed, contributing to stubbornly-high inflation. Despite additional subsidy cuts in the pipeline, the government’s fiscal spending and need to tap into international debt markets are expected to remain elevated in the foreseeable future.

Argentina Economic Growth

The economy is set to grow at a faster pace in the next two years on the back of growth in fixed investment and private consumption; private consumption is nevertheless expected to decelerate from 2017’s print in part due to persistent inflation. FocusEconomics panelists see the economy expanding 3.0% in 2018, which is unchanged from last month’s forecast. For 2019, growth is expected to reach 3.2%.

Argentina Economy Data

2012 2013 2014 2015 2016
Population (million) 41.7 42.2 42.7 43.1 43.6
GDP per capita (USD) 13,885 14,540 13,133 14,854 12,507
GDP (USD bn) 579 614 560 641 545
Economic Growth (GDP, annual variation in %) -1.0 2.4 -2.5 2.6 -2.2
Domestic Demand (annual variation in %) -1.3 4.0 -3.9 4.0 -0.7
Consumption (annual variation in %) 1.1 3.6 -4.4 3.5 -1.4
Investment (annual variation in %) -7.1 2.3 -6.8 3.8 -5.1
Industrial Production (annual variation in %) -7.8 0.0 -1.8 -4.6
Retail Sales (annual variation in %) 26.3 26.7 37.3 27.3 26.2
Unemployment Rate 7.2 7.1 7.3 7.1 8.4
Fiscal Balance (% of GDP) -2.1 -1.9 -2.4 -3.9 -5.9
Public Debt (% of GDP) 34.1 33.0 39.6 53.5 54.2
Money (annual variation in %) 38.4 25.7 28.9 28.2 30.4
Inflation Rate (CPI, annual variation in %, eop) 10.8 26.6 38.0 26.9 41.0
Inflation Rate (CPI, annual variation in %) 10.0 18.4 38.0 26.7 41.2
Inflation (PPI, annual variation in %) 13.1 14.8 28.3
Benchmark Interest Rate (%) 12.42 17.75 19.61 27.56 18.17
Stock Market (annual variation in %) 15.9 88.9 59.1 36.1 44.9
Exchange Rate (vs USD) 4.92 6.52 8.46 12.94 15.86
Exchange Rate (vs USD, aop) 4.55 5.48 8.12 9.27 14.77
Current Account (% of GDP) -0.4 -2.1 -1.6 -2.6 -2.8
Current Account Balance (USD bn) -2.3 -13.0 -8.9 -16.8 -15.0
Trade Balance (USD billion) 12.0 1.5 3.2 -3.0 2.1
Exports (USD billion) 80.0 76.0 68.4 56.8 57.7
Imports (USD billion) 68.0 74.4 65.2 59.8 55.6
Exports (annual variation in %) -3.6 -5.0 -9.9 -17.0 1.7
Imports (annual variation in %) -8.1 9.5 -12.4 -8.4 -6.9
International Reserves (USD) 43.3 30.6 31.4 25.6 38.8
External Debt (% of GDP) 28.0 25.9 29.0 26.6 35.3

credit: https://www.focus-economics.com/countries/argentina

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World Bank’s role in looting of Africa

Picture: THINKSTOCK

Picture: THINKSTOCK

A new World Bank report, The Changing Wealth of Nations 2018, documents Africa’s impoverishment by rampant minerals, oil and gas extraction. Yet the bank enforces the foreign loan repayments and trans-national corporate profit repatriation that sustain the looting.

Using “natural capital accounting”, the bank derives “adjusted net savings”, to better measure economic, ecological and educational wealth. This is preferable to “gross national income” (GNI), a minor variant of gross domestic product (GDP). GNI fails to consider depletion of non-renewable natural resources and pollution, not to mention unpaid women’s and community work.

The bank concludes that Sub-Saharan Africa loses about $100bn worth of adjusted net savings annually. It is “the only region with periods of negative levels — averaging negative 3% of GNI over the past decade — suggesting that its development policies are not yet sufficiently promoting sustainable economic growth … Clearly, natural resource depletion is one of the key drivers of negative adjusted net savings in the region.”

The bank asks, “How does Sub-Saharan Africa compare to other regions?” And answers, “Not favourably.” Contrary to the “Africa Rising” mythology, the adjusted net savings decline was worst here from 2001-09.

Attracting foreign direct investment in mining is counter-productive. The bank concedes, “Especially for resource-rich countries, the depletion of natural resources is often not compensated for by other investments. The warnings provided by negative adjusted net savings in many countries and in the region as a whole should not be ignored.”

But warnings such as the 2012 Gaborone Declaration by 10 African leaders are mainly ignored. There is a simple reason, related to power. “The adjusted net savings measure remains very important, especially in resource-rich countries. It helps in advocating for investments toward diversification,” the bank notes, “outside the resource sector.”

Africa desperately needs diversification from mining, but governments remain influenced by trans-national corporations intent on extraction. Even within the World Bank such bias is evident, as the case of Zambia shows.

Zambia’s missing copper

Last year, Zambia became a pilot study within the bank’s wealth accounting and valuation of ecosystem services project. Forests, wetlands, farmland and water resources were considered “priority accounts”. Conspicuously missing was copper, the main component of Zambia’s natural wealth.

Was copper neglected because such accounting would show a substantial net loss? A decade ago, one World Bank estimate of copper’s annual contribution to Zambia’s declining mineral wealth was 20% of GNI. Discussing such data might compel Zambians to rethink their economic strategy.

Bank staff work not in Zambians’ interests, but on behalf of other international banks and trans-national corporations. From 2002-08, Zambia’s president Levy Mwanawasa came under severe privatisation pressure from the World Bank so as to repay older loans, including those taken out by his corrupt predecessor, Frederick Chiluba. That debt should have been repudiated and cancelled.

When privatising Africa’s largest copper mine, Konkola, Mwanawasa should have received $400m for Zambia’s treasury. But the buyer, Vedanta CEO Anil Agarwal, bragged to a 2014 investment conference in Bangalore how he tricked Mwanawasa into accepting only $25m. “It’s been nine years and, since then, every year it is giving us a minimum of $500m to $1bn.”

Top-down or bottom-up?

From 1990-2015 many African countries suffered massive shrinkage in adjusted net savings, including Angola (68% of its wealth), the Republic of the Congo (49%) and Equatorial Guinea (39%).

There are two ways to address trans-national corporations’ capture of African mineral wealth: bottom-up through direct action to block extraction, or top-down through reforms. The latter is exemplified by the African Union’s 2009 alternative mining vision (AMV).

It proclaims, “Arguably the most important vehicle for building local capital are the foreign resource investors — trans-national corporations — who have the requisite capital, skills and expertise.”

South African activist Chris Rutledge opposed this neo-liberal logic in a 2017 ActionAid report titled, The AMV: Are we repackaging a colonial paradigm?

“By ramping up models of maximum extraction, the AMV once again stands in direct opposition to our own priorities to ensure resilient livelihoods and securing climate justice. And it does not address the structural causes of structural violence experienced by women, girls and affected communities,” it says.

Perhaps community-based opposition is more effective. According to the Bench Marks Foundation, in a pamphlet prepared for the civil society Alternative Mining Indaba (AMI) in Cape Town this week, “Intractable conflicts of interest prevail with ongoing interruptions to mining operations. Resistance to mining operations is steadily on the increase along with the associated conflict.”

The AMI’s challenge is to embrace community resistance, neither retreating into narrow NGO silos nor ignoring mining’s adverse impact on energy security, climate and resource depletion.

In 2015, when all new mines were valued at $80bn, Anglo American CEO Mark Cutifani conceded, “There’s something like $25bn worth of projects tied up or stopped” by critics.

Africa desperately needs diversification from mining, but governments remain influenced by trans-national corporations intent on extraction

Meanwhile, the World Bank still attracts intense protest. Women from Marikana’s slums, organised as Sikhala Sonke, remain disgusted by the bank’s $150m financing commitment to Lonmin. From 2007-12, the bank considered the company its “best case” for community investment — until the police massacre of 34 workers there during a wildcat strike. (World Bank president Jim Yong-kim even visited Johannesburg two weeks after that, but didn’t dare mention, much less visit, his mining stake.)

The bank’s other local operations included generous credits to the apartheid regime; relentless promotion of neo-liberal ideology after 1990; a corrupt $3.75bn Eskom loan in 2010 (the largest-ever World Bank project loan, which funds the world’s most polluting coal-fired power plant); and lead-shareholder investments in the Cash Paymaster Services-Net1 rip-offs of SA’s 11-million poorest citizens that receive social grants.

In spite of revelations about trans-national corporation exploitation in The Changing Wealth of Nations 2018, an increasingly schizophrenic World Bank is a sponsor of this week’s African Mining Indaba at Cape Town’s convention centre.

Each year, it’s the place to break bread and sip fine local wines (though perhaps not water in this climate-catastrophic city) with the world’s most aggressive mining bosses and allied African political elites, conferring jovially about how to amplify the looting.

link to original article: https://www.businesslive.co.za/bd/opinion/2018-02-08-the-world-banks-role-in-the-systematic-looting-of-africa/

• Bond teaches political economy at the Wits School of Governance. He is the author of Uneven Zimbabwe: A Study of Finance, Development and Underdevelopment, and co-author of Zimbabwe’s Plunge: Exhausted Nationalism, Neoliberalism and the Search for Social Justice.

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Looting of Africa calls for Action

Looting of Africa calls for action

Loss? Copper, Zambia’s main resource, was left out of the World Bank’s study on the value of ecosystem services. (Ivan Alvarado/Reuters)
Loss? Copper, Zambia’s main resource, was left out of the World Bank’s study on the value of ecosystem services. (Ivan Alvarado/Reuters)

A new World Bank report, The Changing Wealth of Nations 2018, documents Africa’s impoverishment by the rampant extraction of minerals, oil and gas. Yet the bank enables the repatriation of foreign loan repayments and transnational corporate profits that sustains the looting.

Using “natural capital accounting”, the bank calculates “adjusted net savings”, to better measure economic, ecological and educational wealth. This is preferred to “gross national income”, a minor variant of gross domestic product, which does not consider the depletion of nonrenewable natural resources and pollution, not to mention unpaid women’s and community work.

The bank concludes that sub-Saharan Africa loses about $100-billion worth of adjusted net savings annually. It is “the only region with periods of negative levels — averaging negative 3% of gross national income over the past decade — suggesting that its development policies are not yet sufficiently promoting sustainable economic growth … Clearly, natural resource depletion is one of the key drivers of negative adjusted net savings in the region.”

The bank asks: “How does sub-Saharan Africa compare to other regions? Not favourably.” Contrary to “Africa Rising” mythology, the adjusted net savings decline of the continent was at its worst from 2001 to 2009.

Attracting mining foreign direct investment is counterproductive. The bank concedes: “Especially for resource-rich countries, the depletion of natural resources is often not compensated for by other investments. The warnings provided by negative adjusted net savings in many countries and in the region as a whole should not be ignored.”

But warnings such as the 2012 Gaborone Declaration by 10 African leaders are mainly ignored. There is a simple reason; it’s related to power.

“The [adjusted net savings] measure remains very important, especially in resource-rich countries. It helps in advocating for investments toward diversification outside the resource sector,” the bank states.

Africa desperately needs diversification from mining but governments remain influenced by transnational corporates intent on extraction. Even within the bank, this bias is evident, as the case of Zambia shows.

Missing copper

Last year, Zambia became a pilot study in the bank’s Wealth Accounting and Valuation of Ecosystem Services project. Forests, wetlands, farmland and water resources were considered “priority accounts”. Conspicuously missing was copper, the main component of Zambia’s natural wealth.

Was copper neglected because taking it into account would show a substantial net loss? A decade ago, one bank estimate of copper’s annual contribution to Zambia’s declining mineral wealth was 20% of gross national income. Discussing such data might compel Zambians to rethink their economic strategy.

World Bank staff do not work in Zambians’ interests but on behalf of other international banks and transnational corporates. From 2002 to 2008, Zambian president Levy Mwanamasa came under severe pressure from the bank to privatise state assets to repay older loans, including those taken out by his corrupt predecessor, Frederick Chiluba. That debt should have been repudiated and cancelled.

When Africa’s largest copper mine, Konkola, was privatised, Zambia’s treasury should have received $400-million. But the buyer, Vedanta chief executive Anil Agarwal, bragged to a 2014 investment conference in Bangalore about how he had tricked Mwanawasa into accepting only $25-million. “It has been nine years and since then every year it is giving us a minimum of $500-million to $1-billion,” he boasted.

Stop the looting

From 1990 to 2015, the adjusted net saving of African countries shrank, including Angola’s (68% of its wealth), the Republic of the Congo’s (49%) and Equatorial Guinea’s (39%).

There are two ways to address transnational corporates’ capture of African mineral wealth: bottom-up direct action or top-down reforms to block extraction.

The latter is exemplified by the African Union’s 2009 Alternative Mining Vision (AMV). It proclaims: “Arguably the most important vehicle for building local capital are the foreign resource investors — transnational corporates — who have the requisite capital, skills and expertise.”

South African activist Chris Rutledge opposed this neoliberal logic in a 2017 ActionAid report, The AMV: Are We Repackaging a Colonial Paradigm?

“By ramping up models of maximum extraction, the Alternative Mining Vision once again stands in direct opposition to our own priorities to ensure resilient livelihoods and securing climate justice. And it does not address the structural causes of structural violence experienced by women, girls and affected communities,” Rutledge said.

Perhaps community-based opposition would be more effective. According to the Bench Marks Foundation, in a pamphlet prepared for the civil society Alternative Mining Indaba held in Cape Town this week, “intractable conflicts of interest prevail with ongoing interruptions to mining operations. Resistance to mining operations is steadily on the increase along with the associated conflict.”

The Alternative Indaba’s challenge is to embrace community resistance, and not to retreat into narrow nongovernmental silos or by ignoring mining’s adverse effect on energy security, climate change and resource depletion. In 2015, when all new mines in South Africa were valued at $80-billion, Anglo American chief executive Mark Cutifani conceded: “There’s something like $25-billion worth of projects tied up or stopped [by critics].”

Meanwhile, the World Bank still attracts intense protest. Women from Marikana’s slums organised as Sikhala Sonke remain disgusted by the bank’s $150-million financing commitment to Lonmin. From 2007 to 2012, the bank considered the firm its “best case” for community investment — until the police massacre of 34 workers there during a wildcat strike.

(Bank president Jim Yong Kim even visited Johannesburg two weeks after that but didn’t dare mention it, much less visit his mining stake.)

The bank’s other local operations included generous credits to the apartheid regime, relentless promotion of neoliberal ideology after 1990, a corrupt $3.75-billion Eskom loan in 2010 (the largest-ever World Bank project loan, which funds the world’s most polluting coal-fired power plant) and lead shareholder investments in Cash Paymaster Services, whose Net1 has ripped off South Africa’s 11-million poorest citizens who receive social grants.

In spite of the bank’s revelations about the exploitation by transnational corporates in its recent report, an increasingly schizophrenic World Bank is a sponsor of this week’s African Mining Indaba at Cape Town’s convention centre. Each year, it’s the place to break bread and sip fine local wines (though perhaps not water in the climate-catastrophic city) with the world’s most aggressive mining bosses and allied African political elites, conferring jovially about how to amplify the looting.

link to original article: https://mg.co.za/article/2018-02-09-00-looting-of-africa-calls-for-action

Professor Patrick Bond teaches political economy at the University of the Witwatersrand’s School of Governance

Patrick Bond

Patrick Bond

Patrick Bond teaches political economy at the Wits School of Governance. He is the author of Uneven Zimbabwe: A study of finance, development and underdevelopment (1998) and co-author ofZimbabwe’s Plunge: Exhausted nationalism, neoliberalism and the search for social Justice (2003).

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Latin America: the emerging focus

Latin America: the emerging focus

Investors in North America feeling frustrated with the relative lack of PPP and transport activity are increasingly looking south. Mexico was the sixth biggest infrastructure debt market globally in 2017 with $12.5billion of deals, while there is encouraging activity in Peru, Colombia and Chile; including transportation PPP and the presence of European contractors and equity investors.

There is evidence to suggest these markets should no longer be considered emerging, with many deals sold to international investors based on strong financial structures. Argentina continues to provide a mix of renewables and power project deals, while Brazil recovered from its investment doldrums with over $9 billion of transactions in 2017, mainly in the renewables sector.

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Compliance is not enough to thwart cyber attacks

The energy industry is at a significant inflection point. Today’s utilities must contend with an electric power grid that has become significantly more distributed, more networked, and more transactional. Meanwhile, oil and gas companies are in the middle of a prolonged downturn, causing leaders to look for new innovations that can make their businesses more efficient. (more…)

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Sustainability is action today that anticipates tomorrow

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Anti-money laundering (AML) is ready for a revolution

Our financial crimes team, made up of AML industry experts, regulatory experts, and technologists, has developed an end-to-end AML solution designed to drive efficiency and enhanced compliance. (more…)

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Accelerating medical tech to advance public health

An ever-expanding landscape of new medical products and therapies demands an equally fast-moving evolution of regulatory actions and policy. From brand new drugs to insulin delivery devices and cancer screening equipment, agencies including the Food & Drug Administration and the Center for Drug Evaluation & Research face the challenges of rapidly evolving science and technology. (more…)

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