GFM Network News


Incoming WTO director-general Ngozi Okonjo-Iweala takes part in an online meeting before speaking during an interview with Reuters in Potomac, Maryland on Feb. 15, 2021. (Photo: Reuters/Joshua Roberts)

Nigeria’s Okonjo-Iweala makes history as new head of WTO

Geneva-based body leaderless for six months; Trump paralyzed some of WTO's functions

Geneva/Washington | Reuters — Three months after the Trump administration rejected her, former Nigerian finance minister Ngozi Okonjo-Iweala received unanimous backing on Monday to become the first woman and first African director-general of the World Trade Organization. A self-declared “doer” with a track record of taking on seemingly intractable problems, Okonjo-Iweala will have her work […] Read more

The World Trade Organization (WTO) headquarters in Geneva, Switzerland on Oct. 28, 2020. (Photo: Reuters/Denis Balibouse)

Ban on food aid restrictions blocked at WTO

WTO says outcome 'disappointing' in difficult year

Geneva | Reuters — World Trade Organization members were at odds on Friday over a proposal that would ban countries from restricting food aid deliveries, potentially complicating the response to a feared COVID-fuelled humanitarian catastrophe next year. The proposal was one of two related to the pandemic that failed to make headway at a three-day […] Read more


An image created by Nexu Science Communication, together with Trinity College in Dublin, shows a model structurally representative of a betacoronavirus, the type of virus linked to COVID-19. (Nexu Science Communication via Reuters)

Irritated trade partners push back on China’s coronavirus food tests

Canada rips testing as 'unjustified trade restrictions'

Beijing/Geneva | Reuters — Major food-producing countries are growing increasingly frustrated with China’s scrutiny of imported products and are calling on it to stop aggressive testing for the coronavirus, which some say is tantamount to a trade restriction. China says it has found the virus on the packaging of products from 20 countries including German […] Read more

Vitol plans grain market debut, hires Viterra traders

Hired Trading houses expanding into new commodities markets 
were quick to pounce on Viterra staff not needed by Glencore

Reading Time: 2 minutes Reuters / Top oil trader Vitol is building a global grains desk and has taken advantage of Glencore’s takeover of Canadian grains giant Viterra to hire a team of its traders, trading sources said Feb. 20. Vitol, which has an annual turnover of nearly $300 billion, will vie for market share along with rival trading […] Read more