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Search resuls for: "Oxfam"


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A European Union flag flutters outside the congress palace ahead of the European Political Community summit in Granada, Spain, October 4, 2023. The council said all three jurisdictions either lacked tax information or failed to deliver on commitments regarding governance and transparency reforms. Barring Russia, it said in a statement, the EU list only includes "small and vulnerable countries like Belize yet fails to include any EU member state" which were given the same Global Forum rating. Oxfam's EU tax expert Chiara Putaturo also slammed the list as "toothless" for not screening the United States, the UK, or EU states such as Luxembourg and Malta, adding "countries deemed too big to be listed can no longer escape scrutiny." The EU Council did not immediately respond to a request for comment.
Persons: Jon Nazca, Chiara Putaturo, Sarah Morland, Alvaro Murillo, Jose Sanchez, Bill Berkrot, Stephen Coates Organizations: REUTERS, European Union, OECD's, Transparency, Information, EU, Marshall, Thomson Locations: Granada, Spain, Seychelles, Caribbean, Belize, Antigua, Barbuda, Russia, Panama, EU, United States, Luxembourg, Malta, British Virgin Islands, Costa Rica, Mexico City, San Jose, Belmopan
LONDON (AP) — Najla Shawa and her family are safe for now after fleeing their home in Gaza City, but she’s worried she may never be able to return. But the compound has solar panels, so they have a few lights, internet service and are able to charge their phones. Now that her family is safe, at least for the time being, Shawa is thinking of what comes next. Now some people are talking about Gaza residents being evacuated to the Sinai Desert in Egypt, she said. “But the suffering, seeing our kids torn or severely injured, etc., not being able to treat them, to hospitalize them.
Persons: Shawa, she’s, , ’ ’ Shawa, , It’s Organizations: Oxfam, Associated Press, Gaza Health Ministry Locations: Gaza City, Gaza, Oxfam’s Gaza, I’m, U.N, Israel, Egypt
Key takeaways from the IMF/World Bank meetings
  + stars: | 2023-10-14 | by ( ) www.reuters.com   time to read: +5 min
Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.
Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S
Gaza’s only power station stopped working on Wednesday after running out of fuel, the head of the Gaza power authority Galal Ismail told CNN. So death was a blessing,” he told CNN, his voice broken, tears streaming down his tired, ashen face. Izzat al-Risheq, a senior Hamas official, told CNN on Wednesday that it’s too early to exchange Israeli hostages. “We are extremely worried that what is happening now is totally unprecedented,” Najla Shawa, an Oxfam worker in Gaza, told CNN. “I was sleeping, and then suddenly everything started falling on us,” one little girl waiting in a hospital with blood all over her face, told CNN.
Persons: Jerusalem CNN —, Israel, , Israel’s, Yahya Hassouna, Galal Ismail, Karama, , we’re, Jonathan Conricus, Khan, Ibraheem Abu Mustafa, Benjamin Netanyahu, Benny Gantz, Gantz, Netanyahu, Yoav Gallant, ” Gantz, Abir, Mahmoud Abbas, Antony Blinken, Abbas, King Abdullah II of Jordan, Mohammed Bin Salman, Ebrahim Raisi, Tom Hand, Emily, wasn’t, , Izzat, it’s, Risheq, Baz Ratner, Fabrizio Carboni, ” Carboni, Najla Organizations: Jerusalem CNN, Palestinian, Getty, Palestinian Health Ministry, United Nations Office, of Humanitarian Affairs, CNN, Israel Defence Force, Reuters, National Unity Party, Alternate, Defence, Chagall State, Palestinian Authority, Palestine Liberation Organization, PLO, West Bank, Oslo Accords, Israel, Saudi Arabia’s Crown, Saudi Press Agency, Hamas, International IDF, Kibbutz, International Committee, Cross, ICRC, UN, Oxfam Locations: Gaza, Jerusalem, Israel, Gaza City, AFP, Al, Khan Younis, Chagall, Abir Sultan, Amman, Oslo, Doha, Qatar, Egypt, Kibbutz Be'eri,
CNN —The British government approved the development of a huge oil and gas field in the North Sea Wednesday, sealing its commitment to keep producing fossil fuels for decades to come. “We have today approved the Rosebank Field Development Plan which allows the owners to proceed with their project,” said a spokesperson for oil and gas regulator the North Sea Transition Authority in a statement. The spokesperson added the decision had been made “taking net zero considerations into account throughout the project’s lifecycle.” Net zero is where the world removes at least as much planet-heating pollution as it emits. UK Prime Minister Rishi Sunak recently said he wanted to “max out” oil and gas developments in the North Sea and issue hundreds of new licenses. “Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas.
Persons: , , Rishi Sunak, Sunak, we’ve, ” Sunak, Tessa Khan, Lyndsay Walsh, Rosebank, Claire Coutinho Organizations: CNN, Transition, International Energy Agency, Oxfam, Shell Locations: Shetland, Scotland, Norwegian, North, Rosebank
Uganda bans imports of used clothing from 'dead people'
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Like most African countries, Uganda has traditionally imported large quantities of used clothing, which some consumers prefer because it is low-cost. At least 70% of garments donated to charity in Europe and the United States end up in Africa, according to Oxfam, a British charity. The East African Community, a regional economic grouping of which Uganda is a member, agreed in 2016 to a complete ban on used clothing imports by 2019, but Rwanda was the only country to enact it. As a result, the United States in 2018 suspended Rwanda's right to export clothing duty-free to the United States, one of the benefits of the United States' tariff and quota-free African Growth and Opportunity Act (AGOA). Museveni said the ban would also extend to electricity meters and electric cables, saying they should be bought from factories in Uganda.
Persons: Yoweri Museveni, Abubaker, Museveni, Elias Biryabarema, Christina Fincher Organizations: REUTERS, Rights, Oxfam, Reuters, East African Community, Thomson Locations: Kisozi, Gomba, Central Region, Uganda, Rights KAMPALA, Africa, Europe, United States, British, Sino, Mbale city, Rwanda, U.S, Kampala, Hereward Holland
Robert Alexander/Getty ImagesTo do this, the researchers analyzed huge datasets spanning 30 years to connect financial transactions to carbon pollution. They found the wealthiest 10% in the US, households making more than about $178,000, were responsible for 40% of the nation’s human-caused, planet-heating pollution. But a household making money from the hospital industry would need to bring in $11 million to produce the same amount of planet-heating pollution. Identifying the main actors behind the climate crisis is vital for governments to develop policies that cut planet-heating pollution in a fair way, he added. “At the moment, the way the economy works is that it takes money and turns it into climate pollution that is destabilizing life on Earth,” Nicholas said.
Persons: CNN —, you’ve, it’s, , Jared Starr, Robert Alexander, ” Starr, Starr, Kimberly Nicholas, Mark Paul, ” Nicholas Organizations: CNN, University of Massachusetts Amherst, Santa, Santa Fe Municipal Airport, Lund University, Rutgers University, Oxfam, Locations: Santa Fe, Santa Fe , New Mexico, Sweden
The UK will drill for more oil and gas in the North Sea
  + stars: | 2023-07-31 | by ( Anna Cooban | ) edition.cnn.com   time to read: +3 min
London CNN —The UK government has announced plans to allow a big expansion of drilling for oil and gas in the North Sea in a move that environmental activists have described as a taking a “wrecking ball” to the country’s climate commitments. “Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas. He also announced plans to build two new carbon capture and storage sites in the North Sea, to be completed by 2030, which would take the country’s total to four. The licensing process, overseen by the North Sea Transition Authority, will be more flexible to allow companies to drill near currently licensed areas, “unlocking vital reserves which can be brought online faster,” Sunak’s office said in a statement. “[The project] is a central part of plans to decarbonize North Sea operations, and to store emissions from other parts of Scottish industry,” he said.
Persons: Rishi Sunak, we’ve, ” Sunak, Simon Roddy, , ” Lyndsay Walsh, Philip Evans, , ” Evans Organizations: London CNN, International Energy Agency, Transition, Shell, , Greenpeace UK, Conservative, Labour Party Locations: North, Scotland, loggerheads
Sen. Bernie Sanders, alongside other progressives, is again trying to raise the federal minimum wage. He's introducing legislation to bring the federal minimum to $17 by 2028; currently, it's $7.25. However, past attempts to raise the minimum wage have been stymied by Republicans and moderate Democrats. Under the latest version of the Raise the Wage Act, the federal minimum would climb to $17 by 2028. "The President shares Congressional Democrats' commitment to put workers first and supports increasing the minimum wage.
Persons: Sen, Bernie Sanders, Sanders, Michael Douglas, Gordon Gekko, Hakeem Jeffries, It's, Democrats —, Biden, Michael Kikukawa, Pramila Jayapal, Jayapal, Frances Holmes, Holmes Organizations: Republicans, Service, Democratic, Senate, Democrats, Institute, Workers, National Employment Law, Congress, White, Congressional Progressive Caucus, Oxfam America, Busch Locations: Wall, Silicon, St Louis , Missouri
Reducing inequality by 2030 was one of the 17 UN Sustainable Development Goals adopted by most governments in 2015. But five years later, global inequality — measured as the difference in average incomes between countries — saw the largest annual rise in three decades, driven by the Covid-19 pandemic, according to the World Bank. The goal to reduce inequality “remains largely ignored,” Monday’s letter said. We ask you to seize this opportunity to back stronger goals.”A spokesperson for the World Bank welcomed the ideas proposed in the letter. At a meeting at the UN headquarters in New York Tuesday, due to be attended by representatives from governments, a group that includes Oxfam and UNAIDS will launch a “call to action” on global inequality.
Persons: London CNN —, António Guterres, Ajay Banga, Ban, Helen Clark, Joseph Stiglitz, Jayati Ghosh, Thomas Piketty, ” Guterres, , , , Vasco Cotovio Organizations: London CNN, United Nations, World Bank, UN, New Zealand, Sustainable, CNN, Oxfam, UNAIDS Locations: Russia, Ukraine, New York
The EU's migration chief spoke ahead of talks between home affairs ministers of the bloc's 27 member states on Thursday. "It's about having a European migration policy," EU migration commissioner, Ylva Johansson told reporters. Agreeing a joint approach has proven all but impossible for EU countries since 2015 when the sea arrivals caught them by surprise, overwhelming their reception and security capacity. Bad blood spilled over as eastern EU countries like Poland and Hungary refused to host any refugees and migrants from the mainly-Muslim Middle East and North Africa. Johansson said the tentative deal allowed for the latter, adding that it envisaged no "mandatory relocations" of people and that EU states could help differently.
Persons: Johansson, Ylva Johansson, Gabriela Baczynska, Ed Osmond Organizations: Luxembourg Deal, Oxfam, Union, EU, Thomson Locations: Luxembourg, BRUSSELS, Syria, Spain, Italy, Malta, Greece, Germany, France, Sweden, Poland, Hungary, East, North Africa, Europe
The April meeting of G7 climate ministers eventually agreed, despite tussles between Japan and European nations, that gas investments "can be appropriate to help address potential market shortfalls" following Russia's invasion of Ukraine and the disruption it has caused in global energy markets. Saturday's G7 leaders statement at their summit in Japan's Hiroshima changed the language - eventually formulated by Germany, sources say - to include gas investments again, with the G7 saying it was "necessary to accelerate the phase-out of our dependency on Russian energy". DEFENDING THE STANCEGerman government officials rejected that criticism, saying investments are needed to get away from Russian gas and find a replacement. The G7 pledged to achieve a net-zero emissions goal by 2050 and to limit global warming to 1.5 degrees Celsius. Max Lawson, head of inequality policy at activist group Oxfam, said the G7 had maintained a loophole for new fossil gas investments using the Russian military conflict with Ukraine "as an excuse."
The election came after World Bank board members interviewed Banga for four hours on Monday. Biden congratulated Banga on his “resounding approval” to run the World Bank, which he described as “one of humanity’s most critical institutions to reduce poverty and expand prosperity around the globe.”“Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President,” Biden said. “It is a challenging moment, but it’s a moment where the World Bank remains more vital than ever, and where getting the evolution of the World Bank is absolutely critical,” the official said. “The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process … on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries,” the bank said. The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European.
So when the Hong Kong government raised the minimum wage by a measly 32 cents on Monday, activists and community workers were scathing in their response. “It cannot cover basic needs in Hong Kong.”The new minimum wage now stands at 40 Hong Kong dollars ($5.1) per hour, up from the previous 37.5 Hong Kong dollars ($4.78) per hour. But Wong said this new increase will make little difference in Hong Kong, consistently ranked one of the world’s most expensive cities. The city’s median hourly wage last year was 77.4 Hong Kong dollars ($9.86), according to the Census and Statistics Department. A demonstration from the Hong Kong Women Workers Association in front of the Central Government Office on May 1, 2023.
Two big announcements in European climate policy came Thursday. In 2021, the bloc got 22% of its energy from renewable sources, though the level varied significantly between countries. Sweden leads with a 63% renewable energy share, while in Luxembourg, Malta, the Netherlands and Ireland, renewable sources make up less than 13% of total energy use. UK climate strategyThe United Kingdom also announced its own climate strategy Thursday. It includes support for offshore wind energy, electric vehicles, green hydrogen, nuclear technology, home insulation and home heat pumps.
India's rural women are bearing the brunt of climate related shocks like severe drought and extreme weather events, Universal Images Group | Getty ImagesIndia's rural women are bearing the brunt of climate related shocks like severe drought and extreme weather events, which are drastically affecting their daily livelihoods. The climate fund will allow women and communities to fight climate change and help provide new livelihood resources and education, said Clinton. Having access to clean water makes a huge difference in tackling the overall health issues for rural women, she added. In the latest economic survey released in February, the government said rural women were increasingly participating in economic activity. Government schemes and policies have helped rural women, said Akanksha Khullar, a visiting fellow with the Observer Research Foundation in New Delhi.
[1/2] A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. The bank's executive directors affirmed their commitment to an "open, merit-based and transparent selection process" for the new leader, and said countries could nominate candidates beginning Thursday through March 29. The World Bank board gave a list of criteria and relevant experience for would-be applicants, including "effective communication and diplomatic skills" and also said it "would strongly encourage women candidates to be nominated." The bank has never had a permanent woman president in its 77-year history, although current International Monetary Fund chief Kristalina Georgieva served as acting president for about two months in early 2019. The United States has historically selected the president of the bank, but some developing countries and civil society groups are challenging that tradition.
"BNP Paribas continues to write new blank cheques to the largest fossil fuel companies without setting any conditions for an oil-free, gas-free ecological transition," said Alexandre Poidatz, advocacy officer at Oxfam France. In a statement sent to Reuters, BNP said it regretted the advocacy groups chose litigation over dialogue and that it could not stop all fossil-fuel financing right away. "We're convinced that the ecological transition is the only viable path for the future of our economies," it said. "We are focused on our fossil-fuel exit path, accelerating financing for renewable energies and supporting our customers, without whom the transition cannot be made." No court in France has yet forced a firm to change its ways on the basis of this law.
Climate activists say BNP Paribas is violating a French law meant to reduce environmental risks. BNP Paribas defended its plan to exit the fossil-fuel sector and have a net-zero portfolio by 2050. BNP Paribas has pledged to achieve net zero carbon emissions across its portfolio by 2050. Ripoll said BNP Paribas should adopt a policy requiring fossil-fuel companies to stop developing new projects. If they fail to do so in a certain time frame, BNP Paribas should divest from these companies, she said.
“BNP Paribas continues to write new blank checks to the largest fossil fuel companies without setting any conditions for an oil-free, gas-free ecological transition,” said Alexandre Poidatz, advocacy officer at Oxfam France. In a statement to Reuters, the bank — the largest in the area that uses the euro currency — said it regretted that the advocacy groups chose litigation over dialog and that it could not stop all fossil fuel financing right away. “We’re convinced that the ecological transition is the only viable path for the future of our economies,” BNP said. The lawsuit is based on a French law adopted in 2017 that requires companies to draft so-called environmental damage vigilance plans. A much-awaited ruling in a similar case against TotalEnergies, a top client of BNP’s, is expected early next week.
New York CNN —The largest six banks in the United States have been given until July to show the Federal Reserve what effects disastrous climate change scenarios could have on their bottom lines. The Federal Reserve first announced the pilot program in September, noting that Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo would participate. In its announcement the Federal Reserve stressed that the exercise “is exploratory in nature and does not have capital consequences.” It also said that it would not publish individual banks’ results. San Francisco Federal Reserve President Mary Daly told CNN in October Thursday that this was a learning and exploratory exercise for the Federal Reserve. The other side: Critics of the pilot program have argued that the Federal Reserve was overstepping its boundaries and that they might soon begin to enforce financial penalties.
Over 200 millionaires are urging the elite echelons in attendance at this week's World Economic Forum in Davos to "tackle extreme wealth" and "tax the ultra-rich" to help relieve the cost-of-living strain off ordinary households. The letter questions the mission of the World Economic Forum in absence of concrete measures:"The current lack of action is gravely concerning. A meeting of the 'global elite' in Davos to discuss 'Cooperation in a Fragmented World' is pointless if you aren't challenging the root cause of division. CNBC has reached out to the Davos World Economic Forum for comment. Just one leader of the Group of Seven global economic — German Chancellor Olaf Scholz — was set to attend the Davos proceedings this week, as several of his counterparts battle the cost-of-living crisis.
Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.
A new report from Oxfam looks at how much wealth billionaires have accumulated. The report finds billionaires are collectively adding $2.7 billion to their fortunes daily, as inflation eats up workers' wages. As top tax rates fell, billionaire wealth grew — and Oxfam says wealth taxes are one solution. That's based on the difference between billionaires' wealth from March 18, 2020, adjusted for inflation, and November 30, 2022. However, while wealth taxes are popular, they're unlikely to ever advance in the US.
The top 1% has garnered two-thirds of the $42 trillion new wealth created since 2020, per UK non-profit Oxfam. Oxfam's calling on governments to impose much higher taxes on the super-rich to redistribute wealth. That's twice as much as what the rest of the 99% managed to amass in new wealth, Oxfam said citing Credit Suisse data. Just four cents of every tax dollar come from wealth taxes, according to Oxfam's analysis based on data from the Organisation for Economic Co-operation and Development. Oxfam published its report just as the World Economic Forum commences on Monday in Davos, Switzerland.
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