Food prices dip in May, cereal output set to decline, UN agency says

World food prices dipped in May for a second consecutive month after hitting a record high in March, although the cost of cereals and meat both rose, the United Nations' food agency said on Friday, Reuters reported.

The Food and Agriculture Organization's (FAO) food price index, which tracks the most globally traded food commodities, averaged 157.4 points last month versus 158.3 for April.

The April figure was previously put at 158.5.

Despite the monthly decline, the May index was still 22.8% higher than a year earlier, pushed up in part by concerns over the impact of the Russian invasion of Ukraine.

In separate cereal supply and demand estimates, the FAO said it expected global cereal production would drop in the 2022/23 season for the first time in four years, easing 16 million tonnes from record 2021 levels to 2.784 billion tonnes.

While the dairy, sugar and vegetable oil price indices all fell last month, the meat index edged up to hit an all-time high and the cereal index climbed 2.2%, with wheat posting a 5.6% month-on-month gain. Year-on-year, wheat prices were up 56.2%

FAO said wheat prices were shunted higher by India's announcement of an export ban, as well as reduced production prospects in Ukraine following the Russian invasion, according to Reuters.

The vegetable oil price index dropped 3.5% from April, pushed down in part by Indonesia's decision to lift a short-lived export ban on palm oil.

"Export restrictions create market uncertainty and can result in price spikes and increased price volatility. The decrease in oilseeds prices shows how important it is when they are removed and let exports flow smoothly," said FAO Chief Economist Maximo Torero Cullen.

The dairy index also dropped by 3.5% month-on-month, with the price of milk powders shedding the most because of market uncertainties tied to continued COVID-19 lockdowns in China.

The meat index rose 0.6% in May, with stable world bovine meat prices and falling pig meat prices offset by a steep increase in poultry prices.

Issuing its first forecast for global cereal production, FAO predicted declines for maize, wheat and rice production, while barley and sorghum outputs were seen increasing, Reuters reported.

"The forecasts are based on conditions of crops already in the ground and planting intentions for those yet to be sown," FAO said.

World cereal utilization was forecast to ease in 2022/23 by 0.1% from 2021/22 levels, to 2.788 billion tonnes -- the first contraction in 20 years.

DoTM reduces public transportation fares

A day after the Nepal Oil Corporation (NOC) slashed the prices of petroleum petroleum, the Department of Transport Management reduced the public transportation fares.

The department reduced the fares of public transportation plying in the inter-state with effect from today.

The NOC had slashed the prices of petroleum products by Rs 10 per liter on Thursday evening.

The department has reduced the public transportation fares by 2 percent.

Similarly, the department has also reduced the fares by 2.6 percent and 2. 9 percent for cargo carriers serving routes in the hills and the Tarai respectively.

 

Death toll rises to 126 from heavy rains in Brazil; 9,302 people affected

The death toll from heavy rains last week in the Brazilian city of Recife and its metropolitan area has risen to 126, with two people still missing, the government of the northeastern state of Pernambuco said, Business Standard reported.

At least 9, 302 people have been driven from their homes due to rains that caused major floods and landslides in Recife, burying dozens of hillside houses and causing most of the deaths, Xinhua news agency reported.

It is the worst tragedy to occur in Pernambuco since the start of the 21st century and the second worst in the state's history, after the May 1966 flooding caused the Capibaribe river to overflow leaving 175 dead.

Firefighters and army soldiers are working to recover the bodies of the two missing victims with the help of trained rescue dogs.

A total of 31 municipalities in Pernambuco have declared a state of emergency due to the rains, while 51 towns suffered some type of damage.

The federal government has announced it will allocate some $200 million to rebuild affected areas, according to Business Standard.

Rains also affected the states of Sergipe, Alagoas, Paraiba and Rio Grande do Norte, in the northeastern region of Brazil.

In Alagoas, four people died and nearly 12,000 remain homeless.

 

Teenager found dead in Mulpani

A 16-year-old boy was found dead in Mulpani of Kathmandu.

Dharma Shahi of Budhiganga Municipality-9, Bajura was found dead near Laxmi Narayan Temple in Kageshwori Manohara Municipality-6.

Police said that they are looking into the case.

 

Sri Lanka hikes tax rates to boost government revenues

Sri Lanka’s cash-strapped government has announced a taxation overhaul to boost revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers, Reuters reported.

Prime Minister Ranil Wickremesinghe, who took office this month and plans to present an interim budget within weeks, said on Tuesday the measures were necessary as the current state of government finances was unsustainable.

“The implementation of a strong fiscal consolidation plan is imperative through revenue enhancement as well as expenditure rationalization measures in 2022,” Wickremesinghe’s office said in a statement.

Sri Lanka’s inflation rose to 39.1 percent in May, its statistics office said – a record level, compared with the previous high of 29.8 percent recorded in April.

An increase in value added tax (VAT) to 12 percent from 8 percent with immediate effect is among the key tax increases announced on Tuesday, which is expected to boost government revenues by 65 billion Sri Lankan rupees ($180.56m), according to Reuters.

Other measures, including increasing corporate income tax to 30 percent from 24 percent from October, will earn an additional 52 billion rupees ($143.46m) for the exchequer.

Withholding tax on employment income has been made mandatory and exemptions for individual taxpayers have been reduced, the statement said.

The island nation of 22 million people has been battered by its worst economic crisis since independence from Britain in 1948, with a severe shortage of foreign currency stalling imports of essentials, including food, fuel and medicines.

The roots of the crisis lie in tax cuts enacted by President Gotabaya Rajapaksa in late 2019, which came months before the COVID-19 pandemic that battered the country’s lucrative tourism industry and led to a drop in foreign workers’ remittances.

The tax cuts caused annual public revenue losses of about 800 billion rupees ($2.2bn), the prime minister’s office said in its statement.

The new tax regime and COVID-19’s impact, together with the pandemic relief measures, widened the budget deficit significantly to 12.2 percent of gross domestic product (GDP) in 2021 from 9.6 percent of GDP two years earlier, Reuters reported.

In an interview with the Reuters news agency this month, Wickremesinghe – who also holds the finance ministry portfolio – said he would cut expenditures down “to the bone” in the upcoming interim budget and reroute funds into a two-year relief programme.

The tax hikes are aimed at putting public revenues back at pre-pandemic levels and focused on fiscal consolidation as the country seeks a loan package from the International Monetary Fund (IMF), said Lakshini Fernando, a macroeconomist at investment firm Asia Securities.

“The tax increases are definitely a very positive first step, especially for IMF talks and debt restructuring,” Fernando said.

“This was required to take forward discussions and will also help the government in talks with bilateral and multilateral partners to secure more funding,” Fernando said, according to Reuters.

Oklahoma hospital shooting: Four dead after gunman targets doctor

Police have said a gunman who killed three employees and a patient at an Oklahoma hospital was targeting the surgeon who performed his back surgery, BBC reported.

Dr Preston Phillips was killed in Wednesday's attack, according to Tulsa city officials.

Police named the other victims as Dr Stephanie Husen, Amanda Glenn and William Love, at a news conference on Thursday.

The suspect died of self-inflicted gunshot wounds.

He had purchased a semi-automatic AR 15-style rifle just hours before the shooting, and was also armed with a handgun, police said.

Tulsa police chief Wendell Franklin said the man "blamed Dr Phillips for ongoing pain" following the surgery he received at St Francis Hospital on 19 May.

After his release from hospital, the suspect "called several times over several days complaining of pain and wanting additional treatment", Mr Franklin said. It is unclear if he received further assistance, according to BBC.

He added that a letter recovered from the crime scene made it clear the suspect "came in with the intent to kill Dr Phillips and anyone who got in his way".

"That letter told us the story. This was planned," Mr Franklin said.

Police reportedly arrived at the medical building three minutes after being alerted to the incident on Wednesday afternoon - which they say ensured the death toll wasn't higher. 

Ten other injuries have been reported, officials added.

"Our training led us to take immediate action without hesitation," Chief Franklin said.

Law enforcement response to active shooter situations is under heightened scrutiny after police in Uvalde, Texas reportedly waited 40 minutes before confronting a gunman who shot 21 dead, including 19 children.

Clinic appointments at the medical building have been cancelled for the rest of the week.

In a statement, St Francis Health Systems said it was "grieving the loss of four members of our family".

Dr Ryan Parker, an emergency physician at the hospital, apologised to the family of Mr Love, the slain patient, and said the loss of her own colleagues was "incomprehensible".

"All of my colleagues went into medicine to help people. We are supposed to be the ones that are caring for others during tragedies like this."

A tearful Tulsa Mayor GT Bynum thanked St Francis health workers for "coming to work today".

"Every day, for years... you have put your lives at risk to save the lives of people in this city and yet you're still here ready to save more lives every day," he said, according to BBC.

Ukraine war: Zelensky says Russia controls a fifth of Ukrainian territory

Ukraine's President Volodymyr Zelensky says that Russian forces have seized 20% of his country's territory, as Moscow's invasion nears its 100th day, BBC reported.

Addressing lawmakers in Luxembourg, he added that the front line extended for more than 1,000km (621 miles).

"All combat-ready Russian military formations are involved in this aggression," he told MPs via videolink.

Russian forces have been intensifying attacks on the city of Severodonetsk in the eastern Donbas region.

UK defence officials say Russia has seized most of the city and are making "steady local gains, enabled by a heavy concentration of artillery". 

Severodonetsk is the easternmost city under Ukrainian control and regional governor Serhiy Haidai said Russia was trying to break through defences in the city "from all directions". 

However he said Ukrainian troops were carrying out counter-attacks, "pushing back the enemy on some streets and taking several prisoners". 

Intense street-to-street fighting in the city had hampered evacuations, he said, describing such efforts as "extremely dangerous". 

In a video address late on Thursday evening, Mr Zelensky said the situation in Donbas had not changed significantly that day but that Ukrainians had experienced "some success" in battles in Severodonetsk, according to BBC.

Some 15,000 civilians remain trapped in the city, with many of them taking shelter at the massive Azot chemical plant. 

On Wednesday, Mr Zelensky accused Russia of "madness" after its troops allegedly targeted the site during an artillery barrage. 

Further south, the mayor of the occupied city of Mariupol has accused Russian forces of executing civil servants who have refused to collaborate with the new Moscow-backed city authority. 

Vadym Boychenko, who was evacuated from Mariupol before it fell, said dozens of residents were being held at the Olenivka Prison and that he had received reports of locals being tortured by occupying forces. The BBC cannot verify these allegations.

Last week an adviser to Mr Boychenko told CNN that at least 22,000 people had been killed during Russia's siege and bombardment of the city. 

In the north-east, Russian shelling killed a woman and injured a man in Kharkiv, regional officials said, BBC reported.

And in western Ukraine five civilians were hurt in missile strikes on Lviv, regional head Maksym Kozytskyi said.

Depp-Heard trial: Why Johnny Depp lost in the UK but won in the US

In 2020, Hollywood actor Johnny Depp lost a UK libel lawsuit against the Sun newspaper. But on Wednesday, he won a similar lawsuit against his ex-wife Amber Heard in a US courtroom, BBC reported.

At the start of his recent trial, many legal experts suggested that Mr Depp had a weaker chance of winning than he did in the UK, because the US has very strong free speech protections.

The fact that the jury found that Ms Heard was guilty of defamation with an article in which she claimed she was a victim of domestic abuse means they didn't believe her testimony.

Mark Stephens, an international media lawyer, told the BBC that it's "very rare" that essentially the same case is tried on two sides of the pond and gets different results.

He believes the main factor that influenced Mr Depp's victory in America was the fact that his US trial was before a jury while his UK trial, over an article in the British tabloid that called him a "wife-beater", was before a judge only.

In both the UK and the US trial, Mr Depp's lawyers argued that Ms Heard was lying - to make their case, they attacked her character and claimed that she was in fact the abusive partner, according to BBC.

This is a common defence tactic in sexual assault and domestic violence trials called "deny, attack, and reverse victim and offender" or "Darvo", said Mr Stephens.

The strategy turns the tables on the alleged victim, shifting the conversation away from "did the accused commit abuse" to "is the alleged victim believable". 

"They deny that they did anything, they deny they're the real perpetrator, and they attack the credibility of the individual calling out the abuse, and then reverse the roles of the victim and the offender," Mr Stephens said.

In the UK trial, Mr Stephens said the judge recognised that strategy, and dismissed a lot of the evidence that did not directly address whether Mr Depp committed assault or not. 

"Lawyers and judges tend not to fall for it, but it's very, very effective against juries," he said. Men are more likely to believe Darvo arguments, but female jurors are also susceptible. 

"People have a paradigm in their mind of how a victim of abuse might be like and how they might behave, and of course we all know that's often false." 

Hadley Freeman, a Guardian journalist who covered both cases, told the BBC that another major difference was the fact that the American trial was televised, turning the court case into "almost a sports game".

Each twist and turn of the trial was watched by millions of people - many of whom turned to social media to express support for Mr Depp, BBC reported.

On TikTok, the hashtag #justiceforjohnnydepp got about 19 billion views. The jury was instructed not to read about the case online, but they were not sequestered and they were allowed to keep their phones.

Ms Freeman also thinks that vitriol that the general public lobbed against Ms Heard was a "a bit of #MeToo backlash".

"'Believe women' seems a very long time ago when it comes to Amber Heard," she said.