COP27 offers a breakthrough in the climate fund at the cost of advances in emissions

The COP27 climate summit ends after long negotiations at the end of the week Delivers final agreement on the creation of a landmark climate finance fund Negotiators say some have blocked tougher emissions targets SHARM EL SHEIKH, Egypt (November 20) (Reuters) – Countries wrapped up this year’s United Nations climate summit on Sunday with a … Read more

The Fed raised interest rates by 50 basis points, but the peak interest rate could be higher

BENGALURU (Reuters) – The Federal Reserve will drop in December to raise interest rates by 50 basis points, but economists polled by Reuters say a longer period for US central bank tightening and a higher interest rate hike are the biggest. Risks to the current outlook. US consumer inflation unexpectedly fell below 8% last month, … Read more

Solar Internet Download Opportunities for African Refugees

Solar panels and internet installed in a refugee camp in Kenya Refugee-led businesses open the door to online education and jobs Finding enough work for the newly educated remains a challenge SHARM EL SHEIKH, Egypt, November 17 (Thomson Reuters Foundation) – When Innocent Chilombo arrived in Kenya’s remote Kakuma refugee camp in 2009 after fleeing … Read more

The European Union supports the COP27 call for a phase-out of all fossil fuels

SHARM EL SHEIKH, Egypt (Reuters) – The European Union’s head of climate policy, Frans Timmermann, said on Tuesday that the European Union supports India’s call to reduce fossil fuel use under the COP27 agreement, provided it does not weaken it. Previous agreements on limiting coal use. India, the world’s second largest buyer of coal, wants … Read more

COP27: We’re on a highway to climate hell, says UN chief

China and the United States have a leading role Guterres aims to phase out coal by 2040 The UAE, which is hosting the 2023 talks, says it will continue to produce fossil fuels SHARM EL-SHEIKH, Egypt (Reuters) – United Nations Secretary-General Antonio Guterres told countries gathered at the start of the COP27 summit in Egypt … Read more

Russia says the British Navy blew up Nord Stream, and London denies involvement

Russia says British Navy personnel have blown up pipelines Russia says British naval personnel helped attack Crimea Russia does not provide evidence for the claim Britain denies the Russian allegations Russia says it will seek the attention of the United Nations LONDON (Reuters) – The Russian Defense Ministry said on Saturday that British naval personnel … Read more

Analysis: Poor countries are at risk from elusive G-20 debt relief efforts

LONDON/WASHINGTON (Reuters) – The failure to make concrete progress on debt relief for the world’s poorest countries at the annual meeting of the International Monetary Fund and World Bank in Washington frustrated policymakers, activists and investors. Two years ago, the Group of Twenty launched the Joint Framework – a mechanism designed to provide a rapid … Read more

Russia is largely preparing to avoid the new G7 oil price ceiling

LONDON (Reuters) – Russia can access enough tankers to ship most of its oil beyond the new Group of Seven price ceiling, industry players and a U.S. official told Reuters, underlining the limits of the most ambitious plan yet to rein in Moscow. Wartime proceeds. The Group of Seven agreed last month to limit Russian … Read more

Druzhba pipeline leak reduces Russian oil flow to Germany

Poland discovered a leak late Tuesday Poland says the leak is likely accidental rather than sabotage Germany says its supplies of crude oil are sufficient Schwedt refinery serving Berlin has few alternatives WARSAW (Reuters) – Germany said on Wednesday it was receiving less oil but still had enough supplies after Poland found a leak in … Read more

Brazilian markets have their best day since 2020 as Bolsonaro beats polls

São Paulo (Reuters) – Brazilian markets jumped on Monday as a stronger-than-expected performance by President Jair Bolsonaro and his allies in Congress in the first round of a general election eased concerns about sharp changes in economic policy. The Brazilian currency strengthened more than 4% against the dollar, while the benchmark Bovespa stock index (.BVSP) … Read more