In a surprise U-turn, China's Ministry of Agriculture has decided not to continue with a program which developed genetically-modified rice and corn. Some environmentalists say public concerns about GM crops played a key role in the decision. On August 17, when these permits were up for renewal, the Ministry of Agriculture decided not to extend them. In 2009, the ministry's Biosafety Committee i [...]

America's second largest lender has reached a $16.65 billion settlement with US federal authorities for selling toxic mortgages misleading investors, the Justice Department said Thursday. “This historic resolution - the largest such settlement on record - goes far beyond ‘the cost of doing business,’” Attorney General Eric Holder said in a statement posted on the US Justice Department w [...]

A couple of weeks ago the German newspaper Süddeutsche Zeitung claimed that Germany was refusing to sign off the Comprehensive and Economic Trade Agreement (CETA). The simple reason being the Investor-State Dispute Settlement (ISDS) regulation which I have written about here. [...]

Russia and China plan to increase technology cooperation, with Moscow set to increase exports of software in exchange for data storage, Russia's Communications Minister said. Nikolay Nikiforov, head of Russia's Ministry of Communications, announced via Twitter that Russia and China have agreed to increase the supply of Chinese servers and storage systems and production in Russia, and to boost t [...]

The European Commission said it will provide up to €125 million from Monday till the end of November to compensate food producers coping with Moscow’s food ban. “The exceptional measures announced today will include market withdrawals especially for free distribution, compensation for non-harvesting and green harvesting. [...]

Forget Visa and MasterCard. After the two American credit system payment companies froze accounts without notice in March, Russia has been looking for an alternative in China UnionPay. China UnionPay plans to have 2 million cards in Russia in the next three years. [...]

While the West is continuing to try and punish Russia via economic sanctions, the response of the Russian Central Bank has been to diversify away from the euro and dollar – and to buy up more gold. As the geopolitical situation in Ukraine deteriorates, Russia is moving to protect itself from currency risks associated with the euro and the greenback. [...]

Washington has refused to allow the UN International Court of Justice (IJC) to hear Argentina's claims that US court decisions on the country's debt have violated Argentina's sovereignty. “We do not view the ICJ as an appropriate venue for addressing Argentina’s debt issues, and we continue to urge Argentina to engage with its creditors to resolve remaining issues with bondholders,” the U [...]

Google's hired eyes in the sky will soon be able to make out “manholes and mailboxes.- What else? Google will soon have an unprecedented ability to spy on you from space. Theoretically, at least. How? Two months ago, after much lobbying by the biggest satellite company in North America, DigitalGlobe, the US government relaxed restrictions to allow for commercially available satellit [...]

Russia will increase exports of wheat to Egypt and imports of other agriculture products from it, Russian officials said on Tuesday as the two countries discussed the potential for free trade. The move comes as Russia seeks new sources of supply after it banned most food imports from the United States, the European Union, Australia, Canada and Norway last week in retaliation for Western sanctio [...]

Ecuador doesn't need anybody's permission to export agricultural products to Russia, which now has a big gap that needs to be filled after it banned supplies from a number of western countries, said President Rafael Correa. “I want to immediately say that we don’t need to get anybody’s permission to sell products to friendly countries: as far as we know Latin America isn’t a part of the [...]

Argentina asks the international court of justice to act over an alleged breach of its sovereignty after hedge funds dispute. Argentina has asked the international court of justice (ICJ) in The Hague to take action against the United States over an alleged breach of its sovereignty as it defaulted on its debt. [...]

Russia's 1-year ban on food products from the EU, US, Canada, and Norway will force Russia to increase food imports from Latin America, specifically Ecuador, Brazil, Chile, and Argentina. Russia will ban meat, dairy, fruit, and vegetable imports from countries that have imposed sanctions on Russia over the Ukraine conflict, which opens the door to Russia’s partners on the other side of the wo [...]

Russian PM Dmitry Medvedev has signed a decree on the full ban for imports of beef, pork, poultry meat, fish, cheese, milk, vegetables and fruit from Australia, Canada, the EU, the US and Norway. The ban will last a year, starting August 7. The Prime Minister also said Russia has stopped transit flights by Ukrainian airlines to such destinations as Georgia, Azerbaijan, Armenia and Turkey, addin [...]

Moscow and Tehran have signed far-reaching deals, from energy to consumer goods, which are expected to undermine Western-led sanctions against the two countries. Russia’s Energy Minister Aleksandr Novak met with Iran’s Oil Minister Bijan Namdar Zanganeh and signed a five year memorandum of understanding between the two governments, Russia’s Energy Ministry announced in a statement release [...]

Millions of cubic meters of water, sand and chemicals, which were released into the waterways of British Columbia, Canada, from a breached mine tailings pond have led to a total water ban for residents in the area of the incident. Some 10 million cubic meters of water and 4.5 million cubic meters of fine sand from the tailings pond of the Mount Polley copper and gold mine spilled over into lake [...]

The World Trade Organization got a surprise setback on Thursday when India, pushing for concessions on agricultural stockpiling, vetoed plans for universal customs rules. The deal could have added $1 trillion and 21 million jobs to the world economy. The July 31 deadline on the first proposal for major global economic reform in two decades - a series of customs procedures known as "trade facili [...]

After a short video clip went viral last month of American astrophysicist Neil deGrasse Tyson defending GMO foods, the scientist took to his Facebook page to publish a statement speaking further on the subject. As RT reported last month, Tyson was caught on camera recently saying that critics of GMOs, or genetically-modified organisms, should “chill out.” [...]

Peter Schiff says two catalysts this week could send gold prices higher. Despite the constant drumbeat of geopolitical turmoil, gold, which investors often buy in times of uncertainty, has fallen 6 percent from its March highs. But even with the sell-off, bullion's biggest gold bug isn't throwing in the towel anytime soon. [...]

Obama's State Department bears a heavy responsibility for promoting a civil war in Ukraine. The belief that calling for and instituting sanctions against Russia is a sound policy, illustrates the economic disconnect of the Obama administration. With the fervor for starting a new cold war, the propaganda machine is working overtime to paint a picture that ignores real economic synergism. Note th [...]

A 6 year-old boy from Florida born with right arm deficiency has received a prosthetic arm. Now climbing a tree and catching a ball will become easier for him. Students from Florida University made it on a 3D printer for just $350 in just 8 weeks. [...]

Russian-made firearms are reportedly flying off the shelves of American gun stores after the United States Treasury Department announced sanctions last week against the maker of the popular AK-47 rifle. Kalashnikov Concern, the company responsible for the eponymous gas-operated 7.62 caliber assault rifle known largely around the world as the AK-47, is among the latest Russian-owned entities to [...]