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☆ COP28’s big challenge: green cash for poor states
▼ + stars: | 2023-11-15 | by ( George Hay | ) www.reuters.com time to read: +7 min

Rather than drawing attention to this paucity of ambition, al-Jaber wants states to commit to trebling global capacity of renewable energy by 2030. Progress in China and the West is largely a function of cash: these regions accounted for 84% of the $1.3 trillion committed to global climate finance in 2022. They calculate that by 2030, developing countries need to invest around $2.4 trillion a year in order to decarbonise their economies. The problem is that the developed world has consistently missed targets to channel climate cash to less developed counterparts. In September al-Jaber announced a $4.5 billion scheme to deploy UAE state cash and private sector resources to help Africa decarbonise.

Persons: al, Jaber, hasn’t, Nicholas Stern, Stern, Ajay Banga, Mark Carney, Shriti Vadera, Larry Fink, Joko Widodo, UAE Crown Prince Mohammed bin Zayed, Nahyan, Breakingviews, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, United, Conference of, Abu Dhabi National Oil Company, United Nations, International Energy Agency, The, IEA, World Bank, concessional, Bank, Bank of England, Prudential, BlackRock, U.S, Indonesian, Africa decarbonise, UAE Crown, Thomson Locations: United Arab Emirates, Abu Dhabi, Paris, China, The U.S, British, Egypt, Indonesia, Japan, South Africa, Vietnam, U.S, Al, UAE, Africa, COP28, Dubai

☆ Why inflation makes Britain’s debt the costliest among rich economies
▼ + stars: | 2023-08-22 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

Interest payable on UK central government debt hoovered up £7.7 billion ($9.8 billion) last month alone, hitting a record for July, the Office for National Statistics said Tuesday. That’s double the share in Italy, whose dependence on inflation-linked debt comes second only to that of the UK among advanced economies, according to Fitch Ratings. According to Fitch, Britain now spends more to service its debt than any other developed economy, as a percentage of government revenue. In a statement Tuesday, Hunt said: “As inflation slows, it’s vital that we don’t alter our course and continue to act responsibly with the public finances. Only by sticking to our plan will we halve inflation, grow the economy and reduce debt.”

Persons: That’s, ”, Ellie Henderson, Fitch, ” Ruth Gregory, Jeremy Hunt “, Gregory, Hunt Organizations: London CNN, National Statistics, United, Fitch, “, Investec, AAA, Capital Economics, CNN, Conservative Locations: Ukraine, United States, Italy, Fitch, Britain, London

☆ Iranian drones used by Russia in Ukraine are powered by stolen Western tech, research shows
▼ + stars: | 2023-04-28 | by ( Tim Lister | ) edition.cnn.com time to read: +8 min

Russia wants Iranian drones and ballistic missiles; Iran wants Russian investment and trade. And for the Russians, Iranian drones are a bargain substitute for much more costly missiles, stocks of which are dwindling, according to Western officials. Last October, the head of Ukraine’s Defense Intelligence, Kyrylo Budanov, said Russia had ordered about 1,700 Iranian drones of different types. “These modifications have prevented investigators from identifying the acquisition networks facilitating the international supply of key components into Iran,” CAR says. CARThe revenues from the sale of hundreds of Shahed-136 drones to Russia will likely be reinvested in further improving the industry.

☆ Botswana mining growth seen flat amid dim diamond outlook
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

GABORONE, March 1 (Reuters) - Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday. Diamond trading grew 41% in the year as Botswana also benefitted from Western buyers shunning stones from Russia following its invasion of Ukraine. In 2023, Botswana expects diamond output to decline by 1%, while diamond trading growth is seen slowing to 7% from 41% last year. Finance ministry estimates show that government expects mineral royalties to fall to 4,5 billion pula ($3.41 billion) in 2023, from 6.1 billion pula last year. Dividends due to the state will also decline to 11,3 billion pula from 15 billion pula in 2022.

☆ South Korea flags economic slump deepening for while
▼ + stars: | 2022-12-18 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. South Korea’s economy, the fourth-largest in Asia, relies heavily on exports ranging from cars and ships to chips and smartphones. The central bank last month cut its projection for next year’s economic growth to 1.7% from the previous 2.1% in its scheduled revision, citing falling exports and the resultant reduction likely in corporate investment. The ministry is due to unveil its 2023 economic projections and strategies on Wednesday. President Yoon, struggling against low approval ratings, says exports are the best choice for the manufacturing-heavy country to overcome its slump.

☆ Indonesia’s green step not yet a leap for mankind
▼ + stars: | 2022-11-18 | by ( George Hay | ) www.reuters.com time to read: +8 min

That’s where the private sector comes in, and why Just Energy Transition Partnerships (JETPs) are a potential game changer. More significantly, seven international banks, including HSBC (HSBA.L), (0005.HK), Citigroup and Bank of America (BAC.N), have promised to match that amount. International Finance Corporation figures show that “concessional” finance extended by public bodies at below-market rates can often attract 10 times its own level in private finance. The GFANZ working group will need to ensure Jakarta is sticking to its side of the decarbonisation bargain. The GFANZ group includes Bank of America, Citigroup, Deutsche Bank, HSBC, Macquarie, Mitsubishi UFJ Financial Group and Standard Chartered.

☆ A Core Question at COP27: Who Will Pay for Climate Change?
▼ + stars: | 2022-11-06 | by ( Elena Shao | ) www.nytimes.com time to read: +10 min

When world leaders gather in Sharm el Sheikh, Egypt, this week for the annual United Nations climate summit, the debate over who bears financial responsibility for climate change will be center stage. Most Vulnerable, but Least Responsible for Climate Change A vulnerability index developed by the University of Notre Dame measures countries’ exposure, sensitivity and capacity to adapt to the negative effects of climate change. 10 gigatons CO2 Climate change vulnerability index COUNTRY’s Total historical emissions 1 Somalia is highly vulnerable to the impacts of climate change, but has contributed only a tiny fraction of global emissions. Pakistan experienced widespread and deadly flooding this summer that scientists linked to climate change. India 57.1 Gt CO2 0.5 Middle income countries China 249.4 Gt CO2 0.4 Russia 117.5 Gt CO2 Japan 66.7 Gt CO2 Higher income countries United States 421.7 Gt CO2 0.3 United Kingdom 74.9 Gt CO2 Germany 93.1 Gt CO2 Wealthy countries are responsible for half of the world’s emissions since 1850.

Under the plan, Vivendi's top investor Vincent Bollore would sell all Editis shares he would receive after the transaction, which would consist of a simultaneous distribution of the publishing unit's shares to Vivendi shareholders and its listing. Vivendi wants to sell Editis to secure the takeover of French media group Lagardere. Vivendi's sales totaled 2.58 billion euros ($2.54 billion) in the third quarter, against 2.48 billion euros in the same quarter last year. Vivendi added however that growth at Havas was offset by a slowdown in its pay-TV unit Canal+. Canal+ revenues in the quarter dropped 4.9% at constant currencies and like-for-like, to 1.42 billion euros.

☆ India's young investors prefer crypto to gold and 'boring' stocks
▼ + stars: | 2022-03-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +8 min

New Delhi CNN Business —Indian businesswoman Swati Daga first bought bitcoin in 2017, when the cryptocurrency was trading well under $3,000. “I find stock markets boring,” she told CNN Business, adding that she enjoys the “thrill” and “recklessness” that comes with investing in volatile currencies. The growth is driven by younger investors — mostly under the age of 35 — and many of them are coming from smaller cities and towns, founders of two of India’s biggest crypto exchanges told CNN Business. WazirX also has over 10 million users, and called 2021 a “phenomenal year” for crypto trading in India. On-again, off-again relationshipThe excitement over crypto is rising in India despite the country’s on-again, off-again relationship with digital currencies.

☆ Call private sector initiative for Women Engagement
▼ + stars: | 2020-12-18 | by ( Alte Articole | ) www.civic.md time to read: +19 min

About Project “ Empowering Women in Tech”:Empowering Women in Tech is a project implemented by ATIC with UN Women and Sweden Support since 2018. 1.1 Private Initiatives for Women Economic Empowerment in TechThe overarching goal of the Call is to support women driven private initiatives to further engage women freelancers and entrepreneurs based on a public call in Partnership with “Empowering Women in Tech” Project, supported by Sweden and UN Women. Measure and make visible the impact of the new or existing initiatives, products, services and solutions, to support private sector engagement for sustainable development and attract more women in IT, support the women entrepreneurship, the women in IT sector growth, the promotion of tech jobs for women, other that may reach the provided goal. The Project plan should contain the detailed elaboration of the concept, analysis of the market, impact analysis of the action versus the objectives of the call, sustainability of the action, if any, envisaged development activities including staff engagement, necessary material means and needed advisory services and trainings. Only expenditures accrued during the project, in accordance with the Project Budget and completed by the end of the project, are eligible for financing.

Persons: ATIC, Gross Organizations: UN Women, TEKWILL, USAID, National Association of ICT Companies, TECH THE MOLDOVAN, OF ICT, Umbrella Organization, Moldovan ICT, ICT, Association, Women, Go, Tech, ATIC, Choose, Tech Women, Tekwill, Government of, Moldovan Government, IBM, Microsoft, Moldovan Association of Private ICT Companies, Ministry, Ministry of Education, Government Center, Women Economic Empowerment, “, UN, Tech Industry, Tech ” Project, Project, Independent, Assurance, an, Technology, – Bank Locations: Sweden, Republic of Moldova, Government, Government of Sweden, Moldova, Chisinau

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