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World faces fresh food price surge, FAO warns

FRANKFURT, Aug 5 - The world is on the verge of another bout of food inflation as wars in Iran and Ukraine along with El Nino create a perfect storm of higher costs and lower crop yields, the chief economist of the United Nations Food and Agriculture Organization said.

Asia

Brace for higher US interest rates from the Fed

The bond market has been pushing interest rates higher in recent weeks. Though the Federal Reserve Board’s Federal Open Market Committee kept the benchmark federal funds rate unchanged at its Aug. 28-29 meeting, it could well follow suit by year’s end. The policy statement the

Asia