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US Gulf Coast braced for impact as Hurricane Isaac makes landfall

On August 29, 2012,

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US Gulf Coast braced for impact as Hurricane Isaac makes landfall

US Gulf Coast braced for impact as Hurricane Isaac makes landfall
(Image credit: kakela via Flickr)

Chris Laws examines the preparations made in the US as Hurricane Isaac finally hits Louisiana

On 28 August 2012, Hurricane Isaac made landfall in the southeast of the US state of Louisiana, almost seven years to the day that Hurricane Katrina, the most destructive hurricane in US history, struck the country. As a tropical storm, Isaac had already affected Cuba, Haiti and the Dominican Republic with deadly consequences en route to the US Gulf Coast, where it intensified to hurricane strength. While Hurricane Isaac is not as powerful as Katrina, the storm’s arrival in Louisiana and the city of New Orleans will provoke memories of the destruction caused in 2005 and be the first real test of the city’s new flood defences.

(more…)


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in Climate change and environmental, Environment, by Jason McGeown
Tagged with: Barack Obama • Gulf Coast of the United States • Haiti • Hurricane Isaac • Hurricane Katrina • Isaac • Louisiana • New Orleans
 

Growing political risk in Argentina hinders attempts to attract investment

On August 22, 2012,

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Growing political risk in Argentina hinders attempts to attract investment

Growing political risk in Argentina hinders attempts to attract investment

By Irenea Renuncio

The Argentine government’s decision on 9 August to increase natural gas wellhead prices by 300% has gone mostly unnoticed by investors, who are increasingly worried about the country’s growing political risk. The business environment continues to deteriorate amid growing policy unpredictability and resource nationalism, which is further enhanced by the new Hydrocarbon Sovereignty Decree.

Increase of gas prices unlikely to calm investors

President Fernandez is trying to attract investment in the energy sector amidst growing concerns over the industry’s exposure to government intervention, which was marked by the April nationalisation of Repsol’s YPF shares. (more…)


If you would like to comment on this article, request further in-depth analysis, or contact the analyst for media comment please contact: blog@maplecroft.com

in Issues, Latin America, Political risk, by Jason McGeown
Tagged with: Argentina • CNOOC Limited • Energy industry • Fernandez • Petróleos de Venezuela • Repsol YPF • Venezuela • YPF
 

US drought reducing crop harvest, raising global food security concerns

On August 20, 2012,

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US drought reducing crop harvest, raising global food security concerns

US drought reducing crop harvest, raising global food security concerns

By David Lewis

The worst US drought in over fifty years has caused a fall in crop harvests and a rise in food prices, raising food security concerns for developing countries. The US Department of Agriculture has reported that nearly 62 percent of the US is experiencing drought conditions, with 85 percent of the corn crop falling within this area. As the largest exporter of agro-commodities, a shortfall in the US harvest will likely force food retailers around the world to increase prices for consumers.

Corn and soybean crops, both of which are important components of livestock feed, have been particularly hard hit. The Food and Agriculture Organization (FAO) estimates that corn prices have risen 23 percent in July 2012 alone, largely as a result of depressed US crop yields. Moreover, the shortfall has prompted calls for a temporary suspension of the Renewable Fuel Standard, which diverts approximately 40 percent of the US corn crop for use as ethanol biofuel. (more…)


If you would like to comment on this article, request further in-depth analysis, or contact the analyst for media comment please contact: blog@maplecroft.com

in Agri-business, North America, Sectors, by Jason McGeown
Tagged with: Arab Spring • Crop yield • Democratic Republic of Congo • Drought • Energy Policy Act of 2005 • Food and Agriculture Organization • Food security • United States
 

Resurgent violence in Cote d’Ivoire may stall long-term economic recovery

On August 17, 2012,

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Resurgent violence in Cote d’Ivoire may stall long-term economic recovery

Resurgent violence in Cote d’Ivoire may stall long-term economic recovery

By Alpha Diedhiou

The succession of attacks against state security forces since the beginning of August 2012 by unidentified armed groups raises risks of a gradual return to heightened insecurity, both in the western regions and in the capital city – Abidjan. Increasing insecurity may undercut early efforts at public integrity enhancement and national reconciliation, which are vital for sustained economic recovery and long-term political stability.

A group of 10 armed men attacked state security forces and a prison on 15 August in the town of Dabou, 50km from Abidjan, killing five people, freeing and arming prisoners in the process. This incident follows another attack on 13 August against army positions on the border with Liberia in the south-western region of the country. Earlier attacks against army positions in Abidjan on 5 and 6 August killed 10 soldiers, illustrating the fragility of the transition from the 2010-2011 post-electoral crisis. (more…)


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in Conflict, Economics, Issues, by Jason McGeown
Tagged with: Abidjan • Alassane Ouattara • Arrah • Côte d'Ivoire • Dabou • Economic Community of West African States • Mali • West Africa
 

Violence in platinum mine has potential to spread, destabilising South Africa’s mining sector

On August 16, 2012,

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Violence in platinum mine has potential to spread, destabilising South Africa’s mining sector

Violence in platinum mine has potential to spread, destabilising South Africa’s mining sector

By Sarah Collier

Since an unauthorised strike by some 3,000 rock drill operators that began on 10 August 2012 at Lonmin’s platinum mine in Marikana, ten people have been killed in clashes between rival unions and with the security forces. The two unions involved – the National Union of Mineworkers (NUM), and the newer and more militant Association of Mineworkers and Construction Union (AMCU) – have both blamed each other for the killings. Relations between the unions are extremely volatile, with NUM spokesperson Lesiba Seshoka claiming that AMCU is ‘not a union, it is a criminal organisation’ and was fully responsible for the deaths. Meanwhile, AMCU has accused NUM members of firing into a crowd of striking workers. Reports suggest that the striking workers are AMCU members demanding that their pay is tripled.

Over the past eight months the unions have competed for members at the mine, with AMCU embarking on an aggressive recruitment drive and NUM attempting to ‘reclaim Lonmin’. Rivalry between AMCU and NUM was also partly behind violence which led to the six-week closure of Implat’s Rustenburg platinum mine in January and February 2012. This began with an unsanctioned strike by several thousand rock drill operators, initiated after an 18% bonus increase was given to selected workers in higher-category jobs.
(more…)


If you would like to comment on this article, request further in-depth analysis, or contact the analyst for media comment please contact: blog@maplecroft.com

in Conflict, Mining, by Jason McGeown
Tagged with: African National Congress • AMCU • ANC • Congress of South African Trade Unions • Lonmin • National Union of Mineworkers • NUM • South Africa
 

Venezuelan entry into MERCOSUR set to have strategic and business impact

On August 9, 2012,

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Venezuelan entry into MERCOSUR set to have strategic and business impact

Venezuelan entry into MERCOSUR set to have strategic and business impact

By James Lockhart-Smith

On 31 July, Venezuela formally joined the Common Southern Market (MERCOSUR), a South American trade bloc comprising Brazil, Argentina, Uruguay and until recently Paraguay. The presidents of Argentina, Brazil and Uruguay had agreed to admit Venezuela at a summit on 28-29 June, at which they also suspended Paraguayan membership pending upcoming presidential elections in that country in April 2013. Indeed,  Venezuela’s entry into the regional trading bloc may prove to be the most significant consequence of the event that prompted Paraguay’s suspension in June – the rapid impeachment and removal from office of left-wing president Fernando Lugo earlier in the same month. This had been provoked by concern over his failure to manage escalating violence over land rights, and was seen by fellow MERCOSUR states as an unacceptable breach of democratic process. In this context, Venezuela’s move from associate to full member of the trade bloc, which had been blocked by the Paraguayan legislature, fulfils a long-held ambition of Venezuelan president Hugo Chavez. Lugo’s loss therefore became Chavez’s gain.

(more…)


If you would like to comment on this article, request further in-depth analysis, or contact the analyst for media comment please contact: blog@maplecroft.com

in Elections, Issues, Latin America, Political risk, by Jason McGeown
Tagged with: Argentina • Brazil • Fernando Lugo • MERCOSUR • Paraguay • Venezuela
 

UN calls for investigation into alleged human rights abuses in restive Rakhine state

On August 1, 2012,

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UN calls for investigation into alleged human rights abuses in restive Rakhine state

UN calls for investigation into alleged human rights abuses in restive Rakhine state

By Giulia Zino

On 28 July 2012, the UN High Commissioner for Human Rights, Navanethem Pillay, called for an independent investigation into reported human rights violations perpetrated by state security forces in Myanmar’s Rakhine state, during the latest wave of sectarian violence which began in May. UN observers claim security forces purposely targeted members of the Muslim minority instead of quelling unrest – allegations the government in Naypyidaw strongly denies. Several human rights organisations, including Amnesty International and Human Rights Watch, have documented systematic abuses committed by security forces in Rakhine in May and June 2012, while earlier in June, the EU had praised the handling of the crisis by state security forces as ‘measured’ and ‘appropriate’. The UN’s Special Rapporteur for Human Rights, Tomas Ojea Quintana, arrived in Rakhine’s capital Sittwe on 31 July for a fact-finding mission but has yet to make any public comment on his trip. It is likely that Quintana also held talks with authorities regarding the status of five UN workers still under detention for ‘questioning’ in the country. Another five international workers from Doctors Without Borders are also still held in connection with the unrest. They are broadly accused of inciting violence although charges against them have yet to be formalised (the government has turned down requests by the UN to explain why they were arrested).
(more…)


If you would like to comment on this article, request further in-depth analysis, or contact the analyst for media comment please contact: blog@maplecroft.com

in Human rights, Issues, by Jason McGeown
Tagged with: Aung San Suu Kyi • Bangladesh • Human rights • Myanmar • Navanethem Pillay • Rakhine • Rakhine State • Rohingya • Rohingya people
 
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