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A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries
A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries Ecuador has sought funding to fight the effects of climate change, like this June 2023 flood that followed heavy rains in Esmeraldas. So far, the developed world has offered the debt-strapped nation more loans than grants. […]
Three Russian grain regions declare emergency over cold weather, frost damage
Three Russian grain regions declare emergency over cold weather, frost damage MOSCOW, May 8 (Reuters) – Three of Russia’s key grain-growing areas declared a state of emergency on Wednesday, citing May frosts that have caused severe damage to crops and will reduce this year’s harvest. The central regions of Lipetsk, Voronezh and Tambov all imposed […]
China can’t quit coal by 2040, researchers say, despite global climate goals
China can’t quit coal by 2040, researchers say, despite global climate goals A general view of a coal mine during a Huawei-organised media tour, in Yulin city, Shaanxi province, China April 24, 2023. REUTERS/Tingshu Wang Purchase Licensing Rights, opens new tab BEIJING, April 23 (Reuters) – China’s coal consumption will fall by just one-third by 2040, according […]
FBI says Chinese hackers preparing to attack US infrastructure
FBI says Chinese hackers preparing to attack US infrastructure FBI Director Christopher Wray testifies before the House Approbations Subcommittee on Capitol Hill in Washington, U.S., April 11, 2024. REUTERS/Michael A. McCoy/File Photo Purchase Licensing Rights, opens new tab Nashville, Tennessee, April 18 (Reuters) – Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for […]
Houthi Rebels Hit Norwegian-Flagged Tanker With Anti-Ship Cruise Missile At Key Maritime Chokepoint
Houthi Rebels Hit Norwegian-Flagged Tanker With Anti-Ship Cruise Missile At Key Maritime Chokepoint An anti-ship cruise missile fired by Yemen’s Houthi rebels struck a Norwegian-flagged tanker in the Red Sea near a key maritime chokepoint known as the Bab el-Mandeb Strait, where nearly 10% of all crude traded at sea passes through. Reuters quoted Houthi military […]
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90%
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90% Cash is now king in Lebanon, where a three-year economic meltdown has led the country’s once-lauded financial sector to atrophy and turned the country into a Venezuelan-esque hyperinflationary hell. The country has been hit hard by events over the past few years, starting with COVID. In […]
BIS warns of $80 trillion of hidden FX swap debt
BIS warns of $80 trillion of hidden FX swap debt LONDON — The Bank for International Settlements (BIS) has warned that pension funds and other ‘non-bank’ financial firms now have more than $80 trillion of hidden, off-balance sheet dollar debt in the form of FX swaps. Dubbed the central bank to the world’s central banks, […]
Crude Prices Jump After Israeli Tanker Hit By Iranian Drone Off Oman Coast
Crude Prices Jump After Israeli Tanker Hit By Iranian Drone Off Oman Coast Crude prices are higher Wednesday morning after a bomb-carrying drone on Tuesday evening struck an oil tanker owned by an Israeli billionaire, The Associated Press reported. The Liberian-flagged oil tanker Pacific Zircon was approximately 150 miles off the Omani coast at 730 pm local […]
Germany To Nationalize Struggling Uniper In Deepening Energy Crisis
Germany To Nationalize Struggling Uniper In Deepening Energy Crisis Germany on Wednesday announced a move to nationalize struggling natural gas supplier Uniper SE as it strives to keep the industry functioning in the wake of a global energy crisis, according to Reuters. Uniper is Germany’s largest importer of Russian NatGas and has suffered tremendous losses after Russian energy […]
Angry Customers Demand Explanation As German Energy Bills Soar
Angry Customers Demand Explanation As German Energy Bills Soar Utilities in Germany have had to handle a surge in customer service calls in recent weeks from clients angry or desperate about their sky-rocketing energy bills, Reuters reports. The biggest utility, E.ON, has ramped up its capacity to handle calls from consumers who are shocked to find […]
Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation
Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation People walk near power plant number 10 at Saudi Electricity Company’s Central Operation Area, south of Riyadh, April 27, 2012./File Photo Summary This includes content produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Kingdom burns Russian fuel […]
Gazprom Reportedly Declares Force Majeure, Will Halt Gas Flows To Germany Indefinitely
Gazprom Reportedly Declares Force Majeure, Will Halt Gas Flows To Germany Indefinitely Already days before the July 22 European “Doomsday” when the scheduled Russian 10-day maintenance of the crucial Nord Stream pipeline to Germany is slated to end – but which was thrown into deep doubt given Gazprom recently said it can no longer guarantee its “good […]
