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A senior UBS analyst in Singapore stated that many Asian companies are not fully aware of the potential financial impacts of carbon pricing in the region, nor are they ready for the risk of carbon import duties on their products. Various sectors, including airlines, cement and steel firms, computer manufacturers, and shipping companies, could be affected based on their profit margins, ability to pass on costs, and exposure to the US and Europe. The analyst believes that a major climate conference in Denmark in December could lead to a broader implementation of carbon pricing in Asia, with a carbon tax or emissions trading potentially affecting numerous companies across all Asian markets within three years. The analyst also noted that investors in Asia tend to overlook this issue due to their short-term focus and belief that governments in India and China are not prioritizing climate change. Smiles, the author of a major UBS report titled "How could carbon pricing impact Asian company earnings?", recently published his findings. He examined three scenarios: domestic carbon pricing in Asian countries, "equalising" carbon import duties between richer and poorer nations, and harsher climate change carbon import duties. He stated that the second option is the most likely in the medium term, citing signals from the United States and the European Union regarding potential duties on goods from countries without greenhouse gas caps. The Waxman-Markey climate bill, which has yet to be voted on in Congress, includes a proposal for an international reserve allowance programme. This scenario would require American companies to purchase energy-intensive products from countries that do not share the same emissions goals as the United States. In order to offset the carbon emissions associated with these foreign goods, US companies would need to purchase allowances. According to Smiles, industries such as marine transport, airlines, steel production, and technology companies would be impacted by this second scenario, as exporters would be responsible for paying for the carbon emissions they produce. However, domestic companies would not be affected. Smiles also mentioned that once the US implements carbon pricing, more than half of global private consumption will be subject to carbon pricing. The report suggests that Asian airlines such as Taiwan's Eva Airways, Thailand's Siam City Cement, and South Korean Hyundai Merchant Marine would be significantly affected by potential carbon-related import duties. The study projected that Eva Airways' earnings per share could drop by 34.3 percent, Siam City Cement's by 10.6 percent, and Hyundai Merchant Marine's by 51.4 percent based on 2010 earnings projections and a carbon price of US$9 per tonne. The most affected industries would be airlines, power utilities, marine transport, and cement makers if domestically focused firms and exporters were required to pay for the CO2 they emit. The study assumed that Asian countries would implement domestic carbon taxes or carbon trading schemes aiming for a 20 percent reduction in CO2 emissions. China Airlines is expected to experience a significant decrease in its 2010 EPS due to its high exposure to the United States and EU, a 30 percent fuel cost exposure, and a slightly negative earnings margin. On the other hand, Singapore Airlines' EPS is projected to only decline by 8.6 percent, attributed to its 9.5 percent net profit margin and slightly lower fuel cost exposure. The possibility of exporters being held accountable for the CO2 emissions of their home countries seems less likely currently. This scenario was seen as a way to pressure countries like China and India to participate in global efforts to combat climate change. The report examines the potential costs of implementing a domestic carbon pricing regime in these countries. It was believed at that time that the US and Europe placed a uniform tax on all manufactured exports from each country, resulting in the assumption that the total cost for every country was borne by these two regions. In 2007, China's estimated carbon cost was $55 billion, and India's was $9 billion.

The first global carbon offsetting system for the aviation industry, created by the International Civil Aviation Organization (ICAO), is expected to help reduce emissions from commercial flights without significantly impacting industry revenues. While individual governments still need to enforce the agreement's limits, the system will be voluntary from 2021 to 2026 and mandatory from 2027 for states with larger aviation industries. Airlines will need to purchase carbon credits from specific environmental projects worldwide to offset the increase in emissions. According to Olumuyiwa Benard Aliu, president of ICAO's governing council, the system is the result of compromises and consensus. Aliu stated that objections from a small number of countries would not derail the plan. He mentioned that participation in the voluntary first phases by 65 countries, covering over 80 percent of aviation activity, exceeded the agency's expectations and is expected to continue growing. The tensions revolved around developed nations, which have been responsible for most greenhouse gas emissions in the past, and emerging and developing countries that are concerned added costs could hinder growth. Russia and India have announced they will not participate in the voluntary phases, arguing that the deal unfairly burdens emerging countries. However, China has stated its intention to join the voluntary phase. Brazil, which had previously expressed concerns, has now shown support for the deal. However, it has not confirmed whether it will participate in the initial stages. According to ICAO figures, the agreement is expected to cost airlines between $1.5 billion and $6.2 billion in 2025, depending on future carbon prices. This amounts to no more than 1.8 percent of industry revenues by 2035. Despite airlines' slim profit margins, with an average of 4 percent over the past decade, the International Air Transport Association has stated that the deal is more cost-effective than a fragmented system of national and regional climate agreements. Paul Steele, a vice president of IATA, stated that although the deal represents an additional cost for the industry, it is manageable. The US Department of State has advocated for a deal that aims to lead the industry towards sustainable, carbon-neutral growth. However, environmentalists argue that the voluntary phase and exceptions for smaller markets will prevent the scheme from achieving its objectives. The International Council on Clean Transportation predicts that airlines will only need to offset around three-quarters of growth post-2021, which equates to a quarter of total international traffic. Critics also question the deal's heavy reliance on offsets, with Transport and Environment director Bill Hemmings stating that air travel is a major contributor to environmental damage and this agreement will not reduce the demand for jet fuel. Discussions will now focus on the technical specifics of the agreement, particularly the types of offset credits that will be deemed acceptable. The deal, which was approved by an assembly of ICAO's 191 member states in Montreal, will be applicable to international passenger and cargo flights, as well as business jets that produce over 10,000 tonnes of emissions annually. Prior negotiations almost led to a trade dispute before the 2013 ICAO assembly, as the European Union, frustrated by slow progress, mandated foreign airlines to purchase credits under its program. This move was seen as a violation of sovereignty by China and other nations. The agreement was reached shortly after the Paris agreement to combat climate change came into effect. The aviation sector was not included in the agreement, even though it is responsible for around 2% of carbon dioxide emissions, a greater amount than some industrialized countries. With the industry anticipating a doubling of passenger numbers to 7 billion by 2034, it is crucial to reduce aircraft pollution in order to meet the temperature goals set by the Paris agreement, according to Lou Leonard, a vice president at the World Wildlife Fund.

A survey commissioned by HSBC Bank International found that some of the world's highest-paid expatriates live in Asia and the Middle East. In Russia, a third of expats earn over $250,000 a year, with similar numbers in Japan and Qatar. Additionally, between a third and a quarter of expats in Hong Kong, the UAE, Thailand, and India earn over $200,000 annually. Asia is home to the highest paid expats, with one in four earning over $200,000 per year. Russia was named the top country for expats in terms of wealth, with the rest of the top nine being in Asia and the Middle East. Expats often view building a nest egg as a benefit of their lifestyle, with Saudi Arabia, Russia, Qatar, India, and the United Arab Emirates being the top five countries for increased savings. However, the global economic crisis has negatively impacted expats in Britain and the United States, with nearly a quarter considering returning home due to high living costs, lack of savings, and lower wages. Australia and Belgium were also found to have limited opportunities for generous salaries. The majority of expats in both countries earn less than $100,000, which is lower than the global average of 35 percent. According to Paul Say, head of marketing and communications for HSBC Bank International, expats are still considered wealthy despite the credit crunch. The Expat Explorer survey, the largest of its kind, interviewed over 3,100 expats from different nationalities living in 26 countries. More than two-thirds of expatriates around the world reported that the credit crisis had impacted their spending habits, particularly in terms of luxuries and day-to-day expenses. Nearly 40 percent stated that they were now saving more for unexpected expenses. The majority of expats in Japan, at 53 percent, were reducing their spending on holidays and other extras, while nearly half of expats in Thailand and Hong Kong were also making cutbacks. However, two-thirds of expats in Qatar and over half in Bahrain stated that the global financial crisis would not change their spending behavior, suggesting that some oil-rich Gulf Arab states were less affected by the economic downturn. Expats in Saudi Arabia, Brazil, and Russia were also among the least likely to reduce their spending on luxuries, according to the survey. The individuals surveyed were selected based on four primary factors: earning over $200,000 annually, having a monthly disposable income of over $3,000, saving more money while working overseas, and owning at least two luxury items in their current country of residence. The survey took place from February to April 2009.

A recent survey of some of the largest pension schemes in Britain found that only a small number of them have disclosed their investment views on issues such as climate change and company governance. The survey, which looked at the 20 largest occupational pension funds totaling over 250 billion pounds, revealed that only five of them have policies in place for engaging with companies on environmental, social, and governance issues. Environmental activists and other campaigners have been urging big investors like pension plans and insurance funds to use their influence to push for change within the companies they invest in. The survey also found that organizations such as the BBC and Royal Mail have not been transparent about their investments, while BT Group's pension scheme was the only one to disclose how votes were cast on behalf of its members. The Universities Superannuation Scheme (USS) and the UK rail industry pension fund provided only partial voting data, according to the report. The survey revealed that 15 participants shared information about their largest investments. Alex van der Velden, Executive Director of FairPensions, stated that pension scheme members are worried about the impact of issues like climate change on their pensions, but they do not receive adequate information to address these concerns.

Fourth-placed Arsenal, among the top five teams, has the worst home record. Disgruntled supporters have expressed frustration over the club's failure to finish first in the league for the 12th consecutive year. Fans from the Arsenal Supporters' Trust, the Black Scarf Movement, and Red Action plan to protest at Saturday's match against Norwich City under the banner of "Time for Change" in the club's management. Wenger told reporters that some people question the team's character, but they have character and attitude, and those who doubt them have even less character. He emphasized the need for unity and support for the team. We were defeated in the championship game at our home stadium by teams that are ranked lower, but we faced challenging weather conditions. Despite this setback, we are currently leading the league among the top teams and are looking to make necessary additions. Concerns were raised about Arsenal's ambition when they only signed goalkeeper Petr Cech during the offseason, leading to questions about whether manager Wenger was receiving enough financial support from majority stakeholder Stan Kroenke to strengthen the squad. Wenger stated that Kroenke has never restricted him from making transfers and preferred not to comment personally on his owners. Arsenal's longest serving manager emphasized the importance of clubs working with the resources they generate. He mentioned that the values he speaks about include ambition and support in the transfer market. Despite injuries to key players like Santi Cazorla and Alex Oxlade-Chamberlain, both are expected to be available for selection in the upcoming match against Norwich. Wenger noted that one of the two players could be involved, as Cazorla has been training with the team for two weeks and Oxlade-Chamberlain for one week. The team from north London currently holds a five-point lead over Manchester United, who are in fifth place and have one game in hand. They are aiming to secure their spot in next season's Champions League by defeating Norwich on Saturday.

Sri Lanka captain Kumar Sangakkara is emphasizing the importance of mental strength and fortitude for his team at the Twenty20 World Cup following the traumatic incident in Lahore earlier this year. He acknowledges that there is never a 100 percent guarantee of safety, but believes that they must stay focused on playing cricket. Sangakkara highlights the global security concerns and the need for certain measures to ensure their mental comfort, expressing satisfaction with the arrangements so far. Six members of the Sri Lanka cricket team, including Sangakkara, were injured when gunmen fired at their team bus while they were on their way to the Gaddafi Stadium for the second test against Pakistan in March. In addition to the players, six Pakistani policemen and the bus driver carrying match officials were killed in the attack. The Sri Lanka team is now in constant communication with a national police intelligence cell that has been established to oversee security for the upcoming World Cup in England, which is set to begin on Friday. Steve Elworthy, the director of the World Twenty20 tournament and a former South African player, mentioned that security measures have been significantly increased following the incident in Lahore. Elworthy informed Reuters that the circumstances have shifted significantly, presenting a new challenge for cricketers and officials. The incident prompted a reassessment of the security plan for the event, which was already well-developed. Tournament organizers and the ICC are confident in the measures taken to ensure the safety of players, including police escorts and dedicated security personnel for each team. Elworthy stated that he was unable to disclose the specific information regarding team security. Leading the event's security is John Evans, the former chief constable of Devon and Cornwall in south-west England, who has also provided advice on security to the Football Association. Reg Dickason, the England team's security chief, as well as the ICC's independent security consultants, are also involved. Despite the enhanced security measures, Sangakkara mentioned that his team remained focused on cricket and that the tournament felt like any other, with efforts made to keep everything discreet. "We are able to solely focus on cricket, which is a very pleasant opportunity."

In early September, a seawall at Japan's Kansai International Airport on a reclaimed island near Osaka was breached by Typhoon Jebi. The runway was flooded, leading to a 17-day restoration period that had a significant impact on the region's economy and airlines that had to cancel flights. Other major airports in Hong Kong, mainland China, and North Carolina were also closed due to tropical storms last month. These incidents underscore the risks of disasters for investors and insurers involved in the global construction projects worth an estimated $262 billion, according to Fitch Solutions. Fitch Solutions Head of Infrastructure Richard Marshall noted the increasing frequency and severity of climate change-related events. "If people do not take that seriously, there is a risk involved." According to Airports Council International (ACI) Director General Angela Gittens, fifteen out of the 50 busiest airports worldwide are situated at an elevation of less than 30 feet above sea level, making them particularly susceptible to the impacts of climate change such as rising sea levels and increased storm surges. Gittens mentioned that some airports, like those in Vanuatu and the Maldives, are already experiencing the effects of sea level rise, while even airports in well-developed economies are facing challenges such as more frequent storms and increased need for drainage systems, as seen in Miami. A preliminary version of an ACI policy paper, which was reviewed by Reuters and is scheduled for release this week, highlights the increasing dangers that facilities face from climate change. The paper advises member airports to conduct risk assessments, implement mitigation measures, and consider climate change in their future development plans. It mentions examples of airports that have already integrated climate change considerations into their planning, such as the Istanbul Grand Airport, a $12 billion project on the Black Sea that is set to be one of the largest airports in the world upon its opening next month. Debt investors, particularly those with investments in airports mostly owned by governments or pension funds, face significant exposure. Ratings agency Moody's covers $174 billion worth of airport bonds, with lead analyst Earl Heffintrayer highlighting the increased risk of climate change post Superstorm Sandy in 2012. The storm resulted in the closure of major New York airports, leading to the cancellation of thousands of flights and significant financial losses for airlines. Investors are now scrutinizing mitigation plans, especially for low-lying airports like San Francisco and Boston, as they consider long-term bond investments. San Francisco International Airport, which was built on reclaimed land that is sinking, has completed a feasibility study on a $383 million project to enhance its resilience to rising sea levels along its 8 miles (12.9 km) of bay front shoreline by 2025. Gary Moran, head of Asia aviation at insurance broker Aon, noted an increase in efforts to protect against flood damage and ensure storm drains are effective. More consideration is being given to potential worsening weather conditions in the future. According to a US Coast Guard handout via Reuters, Singapore's Changi Airport has taken measures to address sea level rise by resurfacing its runways for better drainage and constructing a new terminal 18 feet above sea level. These actions are seen as prudent and reassuring to insurers by providing protection against weather-related risks. Singapore anticipates a sea level rise of 2.5 feet by 2100. Changi Airport and various rating agencies did not provide estimates on the cost of climate change protection at airports. The cost of protective measures is often included in larger construction projects. Brisbane Airport in Australia, located on low-lying land, is building a new runway higher than originally planned to mitigate rising sea levels. The incremental cost of these adaptations is relatively low, but the benefits are significant. Coughlan stated that regardless of whether one believes in climate change or not, it is wise to incorporate considerations for rising sea levels, increased rainfall, and flooding into design projects. By integrating these factors from the beginning, the cost is not significantly higher and provides added protection.

Bangladesh will be receiving a $2 million grant from Japan, facilitated by the Asian Development Bank, to address the significant challenges presented by climate change in the coming years. The ADB recently approved a technical assistance grant of $2 million from the Japan Special Fund to enhance the capabilities of government agencies responsible for carrying out the 10-year Bangladesh Climate Change Strategy and Action Plan. This plan focuses on crucial issues such as food security, disaster readiness, and other concerns related to climate change. According to Zahir Ahmad, the Project Implementation Officer for ADB's Bangladesh mission, it is crucial for Bangladesh to prepare for climate change and protect the well-being of its citizens. The assistance from ADB will enable the government to implement the Strategy and Action Plan, leading the country towards a path of low carbon growth, increased climate resilience, and improved food and energy security. According to a statement by ADB, the country has experienced higher temperatures, heavier monsoon rains, and more tropical cyclones and storms due to climate change in recent years. It is predicted that average sea levels could rise by 30 centimeters by 2050, putting 14% of the country at high risk of flooding. To address these challenges, the Ministry of Environment and Forests and other government agencies will receive support to enhance their capacity, and specific climate change programs and projects will be developed. A sub-program will also be implemented to attract private sector investments in clean energy projects eligible for carbon credits under the Kyoto Protocol's Clean Development Mechanism. The total cost of the technical assistance is estimated at $2.5 million, with the government contributing $500,000 in-kind. The program will last for a duration of two years, commencing in August 2009, and will be carried out by the Ministry of Environment and Forests. The Japan Special Fund, which is funded by the government of Japan, will be managed by ADB.

The agency stated that several states in Malaysia, including Kelantan, Terengganu, Pahang, Johor, Malacca, Negeri Sembilan, and Sabah, are still experiencing floods, with 8,727 individuals seeking refuge in 128 relief centers. A total of 125,490 people have been affected by the floods nationwide, with 117,700 evacuees having returned home. The floods, which are common on the eastern coast of Malaysia during the monsoon season from October to March, have been particularly severe this year due to heavy rainfall since December 17. The emergency services have been strained as a result. According to a police tweet quoting Inspector-General Acryl Sani Abdullah Sani, fifty people have died in the floods and two are still missing. In response to the meteorological department's warning of ongoing heavy rainfall, the National Disaster Control Centre has issued a disaster operation preparedness notice. The Department of Irrigation and Drainage has warned of high tides from Jan. 2-5 in Peninsula Malaysia's west coast. Malaysia has announced it will offer 1.4 billion ringgit ($336.22 million) in cash aid and other assistance for flood victims this month. The country is also requesting $3 million from the UN Green Climate Fund to create a national plan for dealing with climate change.

The Batman movie "The Dark Knight Rises" made $64.1 million in U.S. and Canadian theaters in its second weekend, leading the box office despite a slow market due to Olympic television coverage and the Colorado shooting. The final installment in Christopher Nolan's Batman trilogy, starring Christian Bale, earned an additional $122.1 million internationally, bringing its total overseas earnings to $248.2 million since its release on July 20. With domestic ticket sales totaling $289 million, the film has now made $537 million globally. Despite a 60% drop in sales from its opening weekend, "The Dark Knight Rises" still outperformed its predecessor "The Dark Knight" and other superhero films. This year, the summer blockbuster "The Avengers" saw a 50 percent drop in sales the weekend after its May release, while "The Amazing Spider-Man" experienced a 44 percent decline in June. Despite being one of the top grossing movies of the year, "Dark Knight Rises" did not meet pre-release sales forecasts due to the tragic shooting in Aurora, Colorado, which overshadowed its opening weekend. Sales for "Dark Knight Rises" in North America were lower than its predecessor, "Dark Knight," which made $313.8 million in its first two weekends. The impact of the Olympics and the shooting in Aurora likely contributed to lower turnout for the Batman film and other movies, according to industry analysts. Warner Bros. officials declined to comment on the box office numbers and their connection to the shooting. The Olympics and the Aurora shooting have been receiving a lot of media attention recently, possibly causing many people to stay home on Friday night. Lackluster reviews for this weekend's new movies may have also contributed to lower theater attendance. However, it is predicted that next weekend will see an increase in moviegoers as there will be more time since the Aurora shooting, the Olympics will be less of a novelty, and some exciting films like "Total Recall" and "Diary of a Wimpy Kid: Dog Days" will be released. Domestic ticket sales for the weekend were 25 percent lower than the same weekend last year, according to Hollywood.com Box Office. The second spot at the box office this weekend was taken by the animated children's movie "Ice Age: Continental Drift," which earned $13.3 million. It outperformed the comedy "The Watch" and the dance film "Step Up Revolution," both of which also premiered in theatres this weekend. "The Watch" came in third place, making $13 million in domestic theatres. The movie features Ben Stiller, Vince Vaughn, and Jonah Hill as men who form a neighbourhood watch group to combat aliens. Despite its star-studded cast, the film received mostly negative reviews, with only 14 percent of critics giving it positive feedback on Rotten Tomatoes. "The Watch" was also impacted by actual events. In response to the fatal shooting of black teenager Trayvon Martin by Neighbourhood watch volunteer George Zimmerman in Florida, 20th Century Fox changed the movie's title from "Neighbourhood Watch" in May. Prior to the weekend, the $68 million production was projected to earn $13 million to $15 million. Fox's executive vice president for domestic distribution, Chris Aronson, expressed uncertainty about the box office performance following the shooting, calling it a unpredictable weekend. Aronson expressed optimism for a rebound in the general market, believing it would positively impact all films. "Step Up Revolution" earned $11.8 million domestically, ranking fourth at the box office. The film, part of a franchise that has made over $400 million globally, follows a group of flash-mob dancers in Miami. The distributor had anticipated an opening in the low- to mid-teens. Comedy "Ted" secured the fifth spot with $7.4 million. The movie "Step Up Revolution" was distributed by a subsidiary of Lions Gate Entertainment. "The Watch" and "Ice Age" were both distributed by 20th Century Fox, a subsidiary of News Corp. Sony Corp's film division released "Spider-Man."

The United Nations warned of a "silent tsunami" caused by expensive food that could impact 100 million people. Aid groups expressed concern that limiting exports would exacerbate the situation. Prime Minister Gordon Brown stated that Britain would push for changes to EU biofuels targets if it was proven that growing crops for fuel was contributing to high food prices. The World Food Programme described the situation as a new form of hunger affecting millions of people who were not previously at risk. Riots in poor Asian and African nations have erupted due to soaring food prices influenced by various factors such as costly fuel, adverse weather conditions, increased demand from rising incomes, and the conversion of land for biofuel production. The price of rice from Thailand, the leading exporter globally, has increased by more than 100% this year. Several major food exporting countries, such as Indonesia, Kazakhstan, Egypt, and Cambodia, have implemented restrictions on food exports in order to ensure their own supplies. According to Sheeran, shortages that have been artificially created have worsened the situation, as the world has been consuming more than it has been producing for the past three years, leading to a depletion of stocks. The rising prices have caused the World Food Programme to face financial challenges in purchasing food for its programs, resulting in cutbacks to school feeding initiatives in Tajikistan, Kenya, and Cambodia. The WFP, which had initially estimated it would need $2.9 billion in 2008 to meet its needs, now anticipates having to increase that amount by 25% due to the sharp increase in prices of essential grains like wheat, maize, and rice. The end of an era was marked by Britain's pledge of $900 million to assist the WFP in addressing immediate issues, as well as Brown expressing concerns about using crops for fuel production. He mentioned the possibility of changing their approach based on a UK review, and indicated a push for change in EU biofuels targets. Japanese Agriculture Minister Masatoshi Wakabayashi proposed clear rules for food export restrictions at the World Trade Organisation, allowing importers like Japan to provide input on restrictions imposed by exporting countries. Asian Development Bank's managing director general, Rajat Nag, stated that the era of cheap food was over and advised against market distortion through export curbs, advocating for fiscal measures to aid the poor. U.N. Secretary-General Ban Ki-moon has warned that rising food prices could undo efforts to reduce poverty. Kofi Annan, the former Secretary-General, has stated that climate change is worsening the global food crisis and could lead to severe hunger crises in many developing countries. He emphasized that the poor, who are least responsible for climate change, are suffering the most and called for those responsible for pollution to take responsibility. Annan also highlighted the broad impact of climate change on health, security, political stability, and social cohesion.

Malpass stated during a virtual event held by the Washington Post that the sanctions would have a greater effect on the global economy than the war. He anticipated that producers worldwide would respond vigorously by increasing supplies as necessary, and he believed there was no need for individuals to stockpile extra supplies in their homes or restaurants.

According to a UK official, Bangladesh should consider adopting cleaner technology in order to generate power from coal without worsening the country's climate change situation. John Ashton, special representative for the UK foreign secretary, emphasized the importance of balancing the need for power with the need to minimize pollution. He suggested that the government could seek financial support from development partners to implement carbon capture and storage (CCS) technology in coal-fired power plants. Bangladesh, a country facing gas shortages, is exploring alternative options such as coal for power generation. Ashton suggested that organizations like the World Bank or DFID could assist with the additional costs of CCS technology. He emphasized the importance of political consensus in addressing climate change, stating that all political parties must collaborate on policy formulation. Additionally, Ashton mentioned that the British government is prepared to support Bangladesh with carbon trading. He explained that in order to have buyers in the carbon market, contracts need to be legally binding so that low emission countries can sell carbon emissions quotas to others. He also mentioned that the UK government is eager to collaborate with Bangladesh in this area. Bangladesh is considered one of the most climate change vulnerable countries in the world, with concerns that a significant portion of the country may be flooded by the end of the century due to climate change.

According to a statement from IFC, the equity investment fund will assist small and medium enterprises in enhancing their ability to address challenges related to climate change. The fund is a part of SEAF BV and has received support from the Climate Investment Funds-Pilot Programme for Climate Resilience, which aims to help developing countries improve their climate resilience. SEAF BV, established in 2010 by IFC and the Small Enterprise Assistance Funds, focuses on investing in SMEs. SEAF's CEO and co-founder, Hubertus Jan (Bert) van der Vaart, expressed gratitude for IFC's ongoing support, emphasizing that it will enable the fund to invest in activities that promote climate resilience for small businesses, allowing them to better withstand the negative effects of climate change. The IFC stated that it had previously put $12 million of equity into the fund in order to stimulate investment in high-growth SMEs.

Ghana's High Commissioner to Britain warned that ending imports of fresh food from Africa in the name of fighting climate change could harm communities reliant on the trade. The issue of food miles, or the distance food travels from producer to consumer, has become a contentious topic as environmentalists push for reduced carbon emissions. Annan Cato emphasized that airfreighted food makes up less than 0.1 percent of Britain's carbon emissions, questioning the impact on global justice if small African farmers lose economic opportunities. He addressed a gathering of artists, musicians, and scientists discussing the effects of global warming on Africa. Environmentalists suggest increasing local food production and consumption to reduce airfreighted imports of fruits and vegetables. However, development specialists argue that many poorer African communities rely on the income from these imports. Cato suggests that British shoppers can reduce their carbon footprint in other ways without harming African farming families. Scientists predict a rise in global temperatures due to carbon emissions from fossil fuels, leading to dangerous consequences such as floods and famines. Africa, despite having low per capita carbon emissions, is expected to be heavily impacted. Cato emphasized the importance of reducing greenhouse gas emissions in a fair and rational manner, stating that making cuts that disproportionately affect the world's poorest is not only unjust but also hinders the international consensus needed for a global deal on climate change. UN environment ministers are set to meet on the Indonesian island of Bali to discuss urgent talks on a successor to the Kyoto Protocol, which expires in 2012. Europe is pushing for a deal by the end of 2009, but the United States and China, the world's biggest polluters, are hesitant to take action despite growing pressure. Cato stressed the need for the post-Kyoto agreement to include proposals for promoting adaptation to climate change with an effective implementation regime. "This is a matter that pertains not just to fairness on a worldwide scale but also to the very existence of nations," he further stated, noting that while the harm has been caused by some of the wealthiest countries, it is the least advantaged nations that bear the brunt of the consequences.

To live a comfortable life despite the challenging economy, it is suggested to move to Eastern countries, as a survey has revealed that some of the highest-paid expatriates reside in Asia and the Middle East. The 2009 Expat Explorer survey, conducted by HSBC Bank International, found that a significant number of expats in Russia, Japan, and Qatar earn more than $250,000 a year, with a large proportion of foreigners in Hong Kong, the United Arab Emirates, Thailand, and India earning over $200,000 annually. Additionally, countries like Malaysia, China, and India were noted for their affordable accommodation options. The survey concluded that Asia is the region with the highest-paid expatriates, with a quarter of expats earning more than $200,000 per year. Russia was ranked as the number one country for expats in terms of wealth. The top nine countries following Russia were all in Asia and the Middle East. Expats often find that they are able to build up their savings while living abroad, with Saudi Arabia, Russia, Qatar, India, and the United Arab Emirates being the top five countries where people have been able to increase their savings. However, the global economic crisis has had a negative impact on expats in Britain and the United States, with close to a quarter of expats in these countries considering returning home due to high living costs, lack of savings, and lower wages. The survey also found that generous salaries are hard to come by in Australia and Belgium. In both countries, over 60 percent of expats earn less than $100,000, making them the lowest paid expats globally where the average is 35 percent. According to Paul Say, head of marketing and communications at HSBC Bank International, despite the credit crunch, expats are still considered a wealthy group, with over half earning $100,000 or more. The Expat Explorer survey, in its second year, included more than 3,100 expats from 26 countries, making it the largest survey of its kind, as stated by HSBC. More than two-thirds of expatriates around the world reported that the credit crisis had impacted their spending habits, particularly in terms of luxuries and day-to-day expenses. Almost 40 percent stated that they were increasing their savings for unforeseen circumstances. In Japan, over half of expatriates were reducing their spending on vacations and other extras, while a significant number in Thailand and Hong Kong were also making cutbacks. On the other hand, expats in Qatar and Bahrain were less affected by the financial crisis, with the majority stating that their spending attitudes would remain unchanged. Expatriates in Saudi Arabia, Brazil, and Russia were shown to be the least likely to reduce their spending on luxury items according to the survey. The individuals surveyed were selected based on four primary factors: having an annual income over $200,000, a monthly disposable income over $3,000, building savings while working overseas, and owning at least two luxury items in their current country of residence. The survey took place from February to April 2009.

More than 50 speakers from Bangladesh and other countries will be sharing their expert opinions in five panel discussions during the forum, as announced by the organisers during a media briefing on Monday. The Bangladesh Apparel Exchange, in collaboration with the Bangladesh Garment Manufacturers and Exporters Association, will be hosting the forum. The panel discussions will focus on critical issues in the country's apparel industry including human rights, transparency, water usage, purchasing practices, and climate change. Founder and CEO of BAE, Mostafiz Uddin, stated that sustainability is not a choice but a necessity for the Bangladesh apparel industry, and the forum aims to accelerate the momentum towards sustainability and foster discussions on this topic. BGMEA President Rubana Huq highlighted the importance of sustainable labor practices and industry environment. The Netherlands Ambassador in Bangladesh, Harry Verweij, attended the briefing as the embassy is the main sponsor of the forum, in partnership with H&M. Better Work Bangladesh and C&A Foundation are also collaborating with the event organizers.

According to experts, if Barack Obama was a corporate CEO, he would be praised for his management style. His calm demeanor and consistent leadership have earned him the nickname "No Drama Obama" and serve as a valuable example for business leaders. Paul Reagan, a management consultant from Wayne State University, believes Obama's clear values and credibility make him an effective leader. Paul Copcutt, a personal brand strategist from Dundas, Ontario, pointed out that one unique aspect of Obama's leadership style is his keen awareness of his own strengths and weaknesses. This awareness is reflected in his choice of cabinet members, as he selects veterans to provide expertise in areas where he may be lacking. In contrast, Copcutt noted that in corporate culture, individuals are often encouraged to focus on improving their weaknesses. However, Copcutt believes that effective leaders should instead focus on their strengths and delegate tasks that they are not skilled at. Obama's selection of cabinet members, including former rival Hillary Clinton and holdover from the Bush administration Robert Gates, demonstrates his effort to build a diverse coalition of differing views. Chief executives often create a close-knit team of advisors who may not provide a diverse range of perspectives necessary for effective leadership, according to a business historian from Harvard Business School. While President Obama has shown some skill in selecting cabinet members and pushing for an economic stimulus plan, it is still too early to determine his overall success. The real challenges will arise once he assumes the presidency on January 20th. Reagan warned that a management style like Obama's, which attracts a wide range of supporters, carries the risk of disappointing many people. He suggested that Obama may have promised too much change, leading to confusion and an inability to fulfill expectations. Koehn suggested that CEOs could learn from Obama's handling of challenges during his presidential campaign, where he showed emotional intelligence. This skill could be beneficial for leaders facing challenges in today's uncertain financial environment. She stated that business leaders must be aware of the non-material aspects of their employees and organization, beyond just tangible resources, head count, market, and customers. CEO coach Deb Dib has identified several traits in Obama that she believes are essential for business executives to possess, such as being caring, confident, consistent, commanding, and calm. Dib emphasizes that these attributes are not limited to politics, but are qualities that effective CEOs tend to exhibit. She believes there is much to be learned from Obama's leadership style.

By the year 2030, no state is expected to have an obesity rate higher than 60 percent, which is a significant decrease from the 13 states projected in the business-as-usual scenario.

An international group of bankers has pledged to provide financial products to a billion customers who do not have access to traditional banking services. The Global Alliance for Banking on Values, a network of sustainable banks, made this commitment at the end of a three-day conference in Dhaka. Fazle Hasan Abed, founder-chairperson of BRAC and co-founder of the GABV, announced the pledge to reach one billion people by 2020, which could have a significant impact on global efforts to combat climate change. Bank representatives from Asia to Latin America attended the seminar in Dhaka to discuss building a sustainable future for the financial industry. The GABV, established in March 2009, utilizes financial resources to provide sustainable development tools for underserved individuals, communities, and the environment. It represents approximately seven million clients in 20 countries, with a total capital exceeding $14 billion. The organization has pledged to secure $250 million in new capital over three years to facilitate $2 billion in lending to environmentally friendly projects and underserved communities worldwide. The funds are anticipated to come from various sources, including current clients, institutions, and new investors. The alliance believes that expanding the network's membership and establishing new banks will enable them to serve more customers, as stated in their announcement. The members of the network are planning to promote and demonstrate the impact of business models that focus on addressing the world's most urgent social and environmental issues. Peter Blom, who is the chair and co-founder of the GABV, emphasized the importance of raising more money and investing in sustainable bankers to fully utilize financial resources. Blom, who is also the CEO of Triodos Bank, a GABV member based in the Netherlands, believes in the potential of values-led banking to positively impact the lives of one in six people within the next ten years. Participants from the member banks noted that increasing this capital significantly in the coming years will assist in achieving the goal of one billion.

Bangladesh's health minister, A F M Ruhul Haque, stated that the country will require approximately $2 billion over the next decade to address health risks associated with global warming. Following a meeting on climate change, the minister informed reporters that the exact amount would be confirmed by June of the following year. Haque emphasized that if sea levels rise by one meter due to global warming, a total of $2.08 billion will be needed between 2010 and 2021 to mitigate the impacts. The meeting also saw the reading of an eight-point Dhaka Declaration highlighting the government's concern, with 55 delegates from various countries, including 11 ministers, discussing measures to combat climate change effects. In addition, 17 articles were showcased during the conference. Specialists are forecasting that a portion of Bangladesh will be submerged in water within the next 20 to 30 years. Haque mentioned that despite this concerning prediction, there doesn't seem to be much concern about the potential health impacts. The primary focus of this meeting is on this particular issue.

The European Union has announced that they will be allocating nearly €1.1 billion for humanitarian aid, which is the highest budget for life-saving relief in both man-made and natural disasters to date. This funding makes the EU the first humanitarian assistance partner of Bangladesh, with multiple projects currently ongoing in various regions of the country. In August of this year, the EU provided €0.5 million in aid to help those affected by floods in Bangladesh, in addition to their ongoing project support. This increase in budget comes as global humanitarian needs are rising due to the growing number of refugees and displaced persons resulting from armed conflict, natural disasters, climate change, and economic crises. Christos Stylianides, the EU Commissioner for Humanitarian Aid and Crisis Management, stated that next year's budget will also be a record high due to the tragically high levels of need around the world. In 2016, the EU will continue to be a leading global donor of humanitarian assistance and will focus on addressing the needs of the most vulnerable. The humanitarian budget for 2016 will address the refugee crisis in various countries, including Syria, Lebanon, Jordan, Turkey, the Western Balkans, and Iraq. Funding will also support vulnerable and displaced people in Colombia, Myanmar, and Afghanistan, which often go unnoticed by the international community. Additionally, the European Commission plans to increase its humanitarian funding for education in emergencies from one percent to four percent of the EU's overall humanitarian budget in 2016, in line with the UN's target. Other priorities for the EU include helping vulnerable communities prepare for natural disasters in South East Asia and improving aid delivery.

President Barack Obama's $3.55 trillion budget, which was unveiled on Thursday, maintains his strategy to reduce carbon dioxide emissions that contribute to climate change by selling off all emission permits to industries. This approach differs from some members of Congress, including some within Obama's own Democratic Party, who advocate for giving away at least 50 percent of these permits in the initial stages of the plan to help ease the transition to a less carbon-intensive economy. Critics are concerned that imposing charges on companies for their carbon emissions could further strain an already struggling economy. The plan to sell all emission permits is expected to generate $646 billion in revenue during the program's early years, and White House budget director Peter Orszag confirmed that this figure would not change when more details about the budget request are released next week. Orszag informed reporters that there would be no alterations to the climate proposal, despite not providing full details of the upcoming announcement. In the previous year's presidential campaign, Obama expressed his desire for all emissions permits to be sold rather than distributed for free, but he has indicated some flexibility on this issue. According to Obama's plan, carbon dioxide emissions from various sources would be limited, and companies exceeding the limit would need to purchase emissions credits from those emitting less. The purpose of this cap-and-trade system, as emphasized by the director of the Congressional Budget Office, is to incentivize companies to reduce emissions. David Elmendorf of the CBO explained to the Senate Finance Committee that giving away allowances is essentially equivalent to selling them and donating the proceeds from the auction. Elmendorf stated that revenue from auctioning emissions could reach around $1.2 trillion over a decade. The increase in costs for companies emitting emissions will result in higher prices for consumers. Some of the revenue from the cap-and-trade plan in Obama's budget is intended to be given back to consumers to counteract these price increases. Elmendorf explained that the price hike is necessary to encourage changes in behavior, and while it can be distributed differently, it cannot be avoided entirely. A bill for cap-and-trade, sponsored by Representative Henry Waxman, is currently being considered by Congress. Waxman is aiming for the bill to be passed by the end of May, but a senior Republican has suggested that it may be delayed in order to focus on healthcare reform. Representative Joe Barton believes that a delay could help Democrats gather more support for the climate change legislation. Some Democrats on the committee, such as Mike Doyle, anticipate that industry will initially receive most of the emission permits needed under the cap-and-trade plan for free, rather than through auctions, for the first 10 to 15 years of the program. President Obama has expressed a preference for limiting carbon emissions through legislation, but also has the option of using regulation to achieve the same goal. The U.S. Environmental Protection Agency announced last month that greenhouse gas emissions pose a threat to human health and can therefore be controlled as a pollutant.

The Harvard graduate is among 10 "entrepreneurial farmers" chosen by Square Roots, a company specializing in indoor urban farming, to cultivate kale, mini-head lettuce, and other crops locally in Brooklyn's Bedford-Stuyvesant neighborhood. Over the span of 12 months, each farmer receives a 320-square-foot steel shipping container where they can regulate the climate for their own farm. Using pink LED lights, they cultivate GMO-free greens throughout the year. Groszyk, who personally delivers to his 45 customers, selects crops based on feedback and grows new ones upon request. Groszyk recalled the initial day when the shipping containers were lowered by crane off a truck. "We started planting seeds within the following week," Tobias Peggs explained, as he and Kimbal Musk founded Square Roots in November. The company produces about 500 pounds of greens weekly for numerous customers. Peggs believes that if they can create a successful model in New York, it can be replicated globally. Square Roots offers a year-long program that includes assistance in areas such as business development, branding, sales, and finance, sharing 30 percent of the revenue with the farmers. Peggs predicts that farmers can earn between $30,000 and $40,000 by the end of the year. According to Peggs, farmers cover the costs of running their container farm, including water, electricity, and seeds, as well as paying rent, which amounts to around $1,500 per month. Peggs suggested that an alternative option could be pursuing an MBA in food management, which could cost tens or even hundreds of thousands of dollars. He expressed hope that farmers would start their own companies after completing the program. Groszyk, who harvests 15 to 20 pounds of produce weekly, has been trained in various aspects such as artificial lighting, water chemistry, nutrient balance, business development, and sales. Tieg Zaharia, a 25-year-old software engineer at Kickstarter, found it fascinating to know the source of his food while enjoying a $5 bag of greens grown and packaged by Groszyk, emphasizing the importance of supporting local farmers rather than relying on food that is shipped from far away. Nabeela Lakhani, 23, mentioned that reading "Fast Food Nation: The Dark Side of the All-American Meal" during high school motivated her to make changes in the food system. Currently, Lakhani works as a resident chef at a market-to-table restaurant in lower Manhattan three nights a week. When approaching customers, she introduces herself as Chalk Point Kitchen's new urban farmer, often surprising them with her role. Lakhani, who focuses on Tuscan kale and rainbow chard, mentioned that he tells people about having a shipping container in Brooklyn. He harvests the produce and brings it within 24 hours of it being eaten, ensuring that it is the freshest salad in New York City.

US Treasury Secretary Timothy Geithner and Microsoft Corp co-founder Bill Gates announced on Wednesday that they will be launching a global agricultural fund to increase food production in developing countries. The Global Agriculture and Food Security Program, set to be unveiled in Washington on Thursday, aims to assist farmers in producing more food and generating higher incomes from farming. Gates and Geithner highlighted the importance of supporting small farmers and impoverished individuals, especially as the world's population grows and climate change leads to water shortages that can devastate crops. The fund was initially proposed by the United States at a Group of Eight meeting in Italy in 2008, calling for countries to collaborate and invest in agriculture in the world's most impoverished nations. Gates and Geithner announced that commitments for the fund total nearly $900 million from now until 2012. They stated that Canada, Spain, and South Korea will be contributing funding. The fund, overseen by the World Bank, will provide financial support to impoverished nations with high levels of food insecurity that have established effective agricultural plans to enhance crop production. The fund will focus on investing in infrastructure to connect farmers to markets, promote sustainable water management, and improve access to superior seeds and technologies. The surge in global food prices in 2008, reaching record highs, underscored the persistent lack of investment in agriculture in developing countries, where three-quarters of the impoverished population resides in rural areas. The Gates Foundation has a history of supporting projects that aim to enhance agricultural production for small-scale farmers in Africa and other regions. The foundation has focused on improving food access and has collaborated with the United Nations World Food Programme. Despite the world producing enough food to eliminate hunger, over 1 billion people are still hungry due to financial constraints or lack of access to food supplies.

State Minister for Foreign Affairs M Shahriar Alam stated that Bangladesh is committed to adopting low-emission development strategies (LEDS) as long as it does not place additional strain on its economy and financial capacity. He made these remarks at the "Ministerial Meeting on Climate Change" held at the European Commission headquarters in Brussels. The meeting, co-chaired by European Commissioner for Climate Action Connie Hedegaard and Norwegian Minister of Climate and Environment Tine Sundtoft, was attended by ministers and representatives from around 40 countries and international organizations. The meeting was divided into four sessions focusing on mitigation in the 2015 agreement, adaptation, means of implementation, and pre-2020 mitigation ambition. During the 'adaptation to climate change' session, the junior minister highlighted the potential for renewable energy expansion in Bangladesh and stressed the need for financial support from both LDCs and developed countries. He also discussed the upcoming climate agreement to be negotiated at the Paris climate conference next year and implemented from 2020. Alam emphasized the importance of integrating climate change adaptation and disaster risk reduction in all relevant sectors and stressed the need for adequate and predictable financial support and technology provision from developed countries. He is currently attending a climate summit in Abu Dhabi before heading to Geneva to campaign for a Bangladesh candidate for the UN Committee on Elimination of Discrimination Against Women (CEDAW) for the 2015-2018 term.

At the beginning of this year, global inflation pressures increased, along with slower economic growth, leading central bankers to struggle with how to control prices without causing a recession. In the United States, despite the Federal Reserve cutting interest rates following a credit crunch last August, data from Friday revealed that underlying US inflation rose by 0.3 percent in January and the overall annual rate increased to 3.7 percent. In the euro zone, where the European Central Bank has not yet lowered rates like the Fed, preliminary data for several countries in February showed inflation remaining above the ECB's 2 percent target in major economies. Germany had an annual inflation rate of 2.9 percent, Italy had 3.1 percent, and Spain reached a record 4.4 percent. In Belgium, inflation rose to 3.64 percent, the highest rate since July 1991. In Japan, annual inflation remains at a high of 0.8 percent in January, leading to speculation that the Bank of Japan may lower rates from the current 0.5 percent due to signs of an economic slowdown. Ken Wattret, chief euro zone market economist at BNP Paribas, predicts uncomfortably high levels of headline inflation in the euro zone in the near future, putting the European Central Bank in a difficult position as economic growth weakens but inflation persists. European Central Bank Governing Council member Axel Weber warned against cutting interest rates from the current 4 percent due to the risks of higher inflation. Federal Reserve Chairman Ben Bernanke stated that the United States is not facing "stagflation" like in the 1970s, but acknowledged that inflation could complicate efforts to boost the economy. Friday's US core personal consumption expenditure price index, known as PCE, highlighted the conflicting pressures faced by central banks. On one hand, they need to support growth amidst turmoil in the banking sector due to losses on high-risk debt. On the other hand, they must also control inflation. The Federal Reserve, which has already reduced interest rates by 2.25 percentage points to 3 percent since September, is expected to continue cutting rates. Despite signs of increasing inflation, experts believe that the Fed will still lower rates. The Fed recently revised its economic forecasts, lowering its growth outlook for 2008 due to the housing market decline and credit market issues. In Japan, unexpectedly strong housing construction and household spending data released on Friday alleviated concerns about a recession following in the footsteps of the United States. The Japanese central bank has been struggling to combat deflation for years, but now they are hopeful that inflation will make a comeback. Yoshimasa Maruyama, an economist at BNP Paribas in Tokyo, believes that inflation will eventually ease in developed countries. In Europe, the ECB is facing challenges due to high pay demands from trade unions in Germany, which could raise inflation expectations and lead to more wage demands. Additionally, the ECB is concerned about the weakened growth outlook in the euro zone. A survey of corporate managers in the euro zone revealed that the business climate indicator fell more than anticipated in February, reaching its lowest point in two years. Core inflation in the euro zone, excluding energy and food costs, decreased to 1.7 percent in January from 1.9 percent in December. The preliminary euro zone inflation rate for February is expected to remain at 3.2 percent, giving the European Central Bank room to potentially lower interest rates. Chief European economist at Bear Stearns, David Brown, believes that the subdued core inflation rate could lead to rate cuts in the near future. Despite this, the headline inflation rate in the euro zone rose to 3.2 percent in January from 3.1 percent in December. Wattret, an analyst at BNP Paribas, believed that the European Central Bank (ECB) would shift its focus from the headline inflation rate to the risks of economic growth in the euro zone. The euro's increase against the dollar has posed challenges for exporters. Despite most economists in a recent Reuters poll predicting two rate cuts by the ECB this year, they now think that an immediate action is less probable due to the persistence of high inflation rates.

Meteorologists are warning that the severe cold spell in Europe, the worst in decades, may continue until the end of February. This could lead to more deaths and a prolonged increase in gas prices. Leon Brown, a meteorologist at The Weather Channel in Britain, stated that while there may be a change in weather by mid-February, it will likely remain cold until the end of the month. The cold weather and heavy snowfall have already caused numerous fatalities across Europe, with temperatures dropping to nearly minus 40 degrees Celsius in some eastern countries. More than 130 villages in Bulgaria were still without electricity on Wednesday, with the army providing food and medicine, according to the Defence Ministry. The country declared a day of mourning for eight people who died when a dam burst due to melting snow, causing a village to flood. Two individuals are still missing. Kristalina Georgieva, the European Union's crisis response chief, warned that the worst of the flooding in Bulgaria was yet to come. In Bosnia, authorities confirmed five more deaths from cold and snow on Wednesday, bringing the total to 13. In Serbia, where 13 individuals have passed away and 70,000 are stranded due to snow, officials are advising citizens to clear icicles from rooftops following a tragic incident in Belgrade where a woman was killed by falling ice. A Serbia energy official noted that electricity demand has increased significantly, but ice has been hindering production at hydro-power plants and causing difficulties for coal trains. Meanwhile, a Croatian radio station reported that strong winds have carried fish from the Adriatic sea to the island of Pag, prompting locals to collect fish from the shore instead of going fishing or to the market. Cold polar air from northern Russia, combined with high pressure, has prevented warmer weather from reaching Europe, resulting in below-freezing temperatures across the continent for the past 10 days. Officials from the World Meteorological Organization (WMO) in Geneva this week did not rule out the possibility of cold temperatures persisting for the remainder of February. Omar Baddour, who oversees the WMO's climate data monitoring program, indicated that there is a chance the pressure system could start to lift next week, but warned that it may continue until the end of the month. The "negative Arctic oscillation," which is causing the freezing weather due to a difference in pressure between Europe and the Arctic, is expected to take two or three weeks to return to normal, according to Baddour, meaning an early thaw may not be likely. While the high-pressure system itself is not uncommon, the sudden shift to below-normal temperatures following weeks of mild weather has caught experts off guard. Brown described the situation as "quite unique and somewhat puzzling" in terms of how this winter has unfolded. According to Georg Mueller, a forecaster at Point Carbon, a Thomson Reuters company, the sudden and persistent cold spell in January and February is the strongest to occur in February in 26 years. The last similarly severe cold weather in February was in 1986. The large Siberian blocking pattern currently in place has made it challenging to predict its movement, with the cold air influencing wind behavior rather than the other way around. Brown mentioned that the unexpected cold front has lingered and shifted towards the west, causing difficulty for computer models to predict when it will leave Europe. The prolonged cold weather has led to a spike in British gas prices, reaching levels not seen since 2006. Russia reduced gas exports to Europe due to high demand, prompting countries like Italy to seek alternative sources like Algeria. If the cold weather persists and domestic demand rises, Russia may need to decrease its gas exports to Europe once more.

An American-Saudi company, owned by two members of the Saudi royal family, plans to establish 450MW combined cycle power plants in Bangladesh. Energy Holdings International, Inc, based in Houston, will construct the first plant in Bibiyana and the second in Fenchugang, with each plant estimated to cost $200 million. The company, co-owned by Saudi Princes Abdullah Al-Saud and Bader Al-Saud, has received interest from other companies, including Siemens, to participate in these projects and future ventures in Bangladesh. EHII is currently in discussions with Siemens to potentially partner and provide turbines for the plants, as stated by EHII Vice-Chairman Jalal Alghani in a press release by PRNewswire. In a letter to shareholders, EHII Chairman John W Adair stated that the initial 450mw combined cycle plant is just the beginning of potential power plant opportunities in the country. Back in June, Saudi multi-billionaire Prince Al-Waleed Bin Talal had expressed interest in investing in Bangladesh's power and tourism sectors. Following a meeting, the Prince was given a Power Point presentation outlining investment opportunities in Public Private Partnership projects, as well as challenges related to climate change in the tourism and power sectors. With a net worth of $18 billion, Prince Al-Waleed is currently ranked 29th on Forbes magazine's list of billionaires. He had previously visited Bangladesh in 2005 with intentions to purchase Sonargaon Hotel.

The agreements were signed at the Economic Relations Division in Dhaka on Thursday by Kazi Shofiqul Azam, ERD secretary, and Manmohan Parkash, ADB country director. The agreements include a $100 million grant for displaced people in Cox’s Bazar camps, a $25.44 million grant for solar-powered pumps in irrigation, and a $225 million loan for improving secondary education quality and relevance. Parkash mentioned that the grant for Cox’s Bazar was approved quickly after a request from Bangladesh in May 2018. He also stated that the secondary education project will support the government’s reform efforts to prepare youths for the growing economy, while the solar-power project will help enhance energy security, reduce pollution, and address climate change. The ADB has allocated a $100 million grant to assist displaced individuals residing in camps in Cox's Bazar, with a focus on improving water supply and sanitation, disaster risk management, energy, and roads. The project will improve roads within the camps to connect food distribution and storage centers, as well as provide emergency access. Additionally, the project will upgrade the road from Cox's Bazar to Teknaf and other crucial sections. With $25.44 million in funding, the project will install 2,000 off-grid solar photovoltaic pumping systems in areas without electricity access, generating an estimated 19.3 megawatts-peak of solar capacity. By replacing diesel pumping systems with solar pumps, the project aims to reduce carbon dioxide emissions by 17,261 tons annually. The secondary education project, set to finish in 2023, is aiding the government's comprehensive secondary education development program with the support of development partners. The government plans to increase the number of secondary school students by 3.5 million by 2023, which will necessitate 145,000 more teachers and 10,000 additional schools. The $225 million ADB aid will help create a competency-based curriculum, encourage the use of ICT in teaching, and enhance classroom assessment.

She made a commitment that the project would not harm the Sundarbans. Al Gore, former US vice president, brought up this concern during a session on fighting climate change at the Davos Congress Centre. The prime minister emphasized that the proposed power plant would be located 14km from the edge of the Sundarbans and 70 km from the World Heritage Site. The Deputy Press Secretary to the PM, Nazrul Islam, mentioned that she stated the power plant would use clean coal and modern technology to minimize environmental impact. Additionally, the prime minister invited Gore to visit Bangladesh and see the location for himself. Bangladesh and India have entered into an agreement to establish a 1,320-megawatt thermal power plant in Rampal, Bagerhat, located 14 kilometers away from the Sundarbans. Critics, including environmentalists and leftist parties, have been expressing concerns that the coal-based power plant could endanger the ecological balance of the Sundarbans, which is the world's largest mangrove forest. Despite these objections, the government asserts that appropriate measures will be implemented to safeguard the environment against pollution. According to Deputy Press Secretary to the Prime Minister Islam, Prime Minister Hasina addressed the issue at the Davos plenary session, stating that some individuals are needlessly making a controversy out of it. Hasina reportedly reassured the session attendees that she personally would not approve any project that posed a risk to the environment. Besides the ex-vice president of the United States, other notable attendees at the session included Norwegian Prime Minister Erna Solberg, HSBC Group CEO Stuart Gulliver, and Cofco Agri CEO Jingtao Chi.

The trend of frilly and flowery baby-doll looks in fashion will be replaced by tailored and sophisticated styles next spring. The serious tone of spring collections in New York reflects the nation's current challenges, such as choosing a new president and addressing the conflict in Iraq. Experts attending Fashion Week believe that the fitted and professional women's spring clothing reflects the mood of consumers, with luxury consultant Robert Burke noting that a youthful look is no longer appropriate. Burke mentioned that there is a sense of unpredictability and a more serious tone currently. The stock market has been unpredictable and elections are approaching. People are opting for a more serious and sophisticated look rather than a frivolous and feminine one. Therefore, the upcoming spring fashion trends will include cinched waists, fitted blouses, pleated skirts, shirtdresses, and high-necked collars. Designer Charles Nolan showcased school blazers as part of this trend. Derek Lam and Tibi designed safari-style jackets, while swingy jackets with shortened sleeves were featured in shows by VPL by Victoria Bartlett, Lyn Devon, Tibi, and Luca Luca. Alexandre Herchcovitch transformed tuxedos into waistcoats and backless vests. Sleeveless sheath dresses and strapless cocktail dresses were popular, and Carolina Herrera introduced dressy cocktail shorts. Leatrice Eiseman, executive director of the Pantone Color Institute, described the trend as more ladylike and classic, reflecting a more thoughtful time. She predicted that this style will continue into the following spring and summer due to the current war and national election. Senator Hillary Clinton's presidential campaign is causing a significant influence on fashion, according to her. She believes that it is changing perceptions of women to be seen as more powerful and less focused on feminine stereotypes. Fashion designer Zac Posen also feels that the upcoming elections are influencing his collection, as he wants to find a way for the United States to transition smoothly. Designer Catherine Malandrino mentioned that the current uncertain times served as inspiration for her sophisticated collection. She stated that her goal is to create harmony between the body and soul of women through her designs, aiming to bring a sense of peace. Despite some skeptics' beliefs, Malandrino believes that designers should take into consideration what women want and need. David A. Wolfe of The Doneger Group trend forecasters expressed a desire for designers to avoid boredom. Patricia Pao from the Pao Principle retail consultants suggested that the changing style is driven by economics. Pao noted that the unstructured look has been challenging for designers as it is quickly replicated, whereas structured dressing is more difficult to copy. Many believe that the baby-doll look became unpopular in the fashion industry because it made women seem too relaxed and messy. Stan Herman, former head of the Council of Fashion Designers of America, stated that designers avoided showcasing this style due to the widespread mockery it received.

According to a report by the World Economic Forum, the main threat facing the world in 2010 is the possibility of deteriorating government finances leading to full-fledged debt crises. Major economies have responded to the financial crisis by increasing deficits through stimulus packages and underwriting private debt, which has raised concerns in financial markets. Developed nations are at a higher risk compared to emerging economies, which have already taken steps to improve their fiscal situations following previous shocks. John Drzik, Chief Executive of Oliver Wyman, warned that the high levels of debt being accumulated by governments could lead to an increase in sovereign defaults. He warned that increased levels of unemployment could result, leading to social and political risks. The report identified unsustainable debt levels, the looming financial crisis, underinvestment in infrastructure, and rising health costs due to chronic diseases as the top risks. Other threats included potential asset price collapse, risks related to Afghanistan, and a possible slowdown in Chinese growth impacting employment, social unrest, and exports. The report emphasized the danger of developed nations accumulating unsustainable levels of debt, stating that full-blown debt crises would inevitably lead to social and political consequences, including higher unemployment. Daniel Hofmann, group chief economist at Zurich Financial Services, emphasized that government debt levels exceeding 100 percent of GDP, as seen in the United States and the UK, were clearly unsustainable. Investors may become scared and question the sustainability of high debt levels, potentially leading to sovereign debt crises and defaults. Early warnings from Dubai and Greece should not be ignored, as worries over these countries, along with Ukraine, have impacted global markets. The United States and the United Kingdom also face tough decisions in managing their fiscal stimulus to ensure sustained recovery without causing fear of sovereign debt deterioration. The report also emphasized the importance of making long-term decisions on issues like health and pension reform and climate change to bridge the governance gap between short-term pressures and long-term needs. The report stated that not enough was being done to tackle the problem of underinvestment in infrastructure, which could have negative effects on food and energy security. The World Bank estimates that global infrastructure investment needs over the next 20 years amount to $35 trillion. The report also highlighted the increasing financial burden of chronic diseases due to longer life expectancy and unhealthy lifestyles, urging both developing and developed nations to address this issue through prevention campaigns promoting healthier living. According to the report, the biggest risks to the world today may come from gradual failures or creeping risks, as these can have significant long-term impacts that are often underestimated.

A Saudi billionaire prince was given a rare state honour during his visit to Dhaka, where he held talks with the Prime Minister and senior members of her Cabinet. Prince Al-Waleed Bin Talal received the Bangladesh Friendship Medal in a ceremony attended by Sheikh Hasina and other officials at Sonargaon Hotel. The prince, who arrived in the morning and left in the afternoon, met with Hasina to discuss investment and business opportunities in Bangladesh. Other officials present at the meeting included Deputy Leader of the Parliament Syeda Sajeda Chowdhury, LGRD Minister Syed Ashraful Islam, Foreign Minister Dipu Moni, Prime Minister's Advisor Gowher Rizvi, Cabinet Secretary Mosharraf Hossain Bhuiyan, and Power Secretary Abul Kalam Azad. A Power Point presentation was presented after the meeting, showcasing the investment opportunities in the country, specifically in Public Private Partnership projects, tourism and power sector. The challenges of climate change were also discussed. Following the ceremony, lunch was had together, and the prince was then driven to the Bangabhaban to meet with President Md Zillur Rahman. The Saudi royal arrived in Dhaka at 10:30am and was scheduled to leave at 3pm. Al-Waleed Bin Talal, with a net worth of $18 billion, is currently ranked 29th in Forbes magazine's list of billionaires. He had previously visited Bangladesh in 2005.

Many bankers and traders are no longer able to enjoy company perks like fancy limos, luxurious business class seats, and expensive meals due to multibillion dollar write-downs. To cut expenses and improve profits, trading desk heads and senior bankers are making cuts to small comforts. Ron Karp, a controller at Corporate Transportation Group, has noticed a decrease in demand for rides home for Wall Street workers, as companies are now more cautious about spending money on extravagant perks. He mentioned that there has been a noticeable decrease in business at car services throughout the city in the past month. Rather than implementing companywide cutbacks like in the early 2000s after the tech bubble burst, cutbacks are now happening in specific departments. However, employees in these departments are still feeling the financial strain. Credit Suisse has reduced cell phone subsidies and eliminated car vouchers. Merrill Lynch has restricted business class travel for certain divisions, Goldman Sachs has discontinued free soda, and JP Morgan has raised the qualifications for free meals and transportation. Reducing small benefits helps reduce costs, but more importantly it sends a message to employees to be mindful of their expenses. According to equity analyst Brad Hintz, cutting perks at banks is a way to remind workers to be cautious with spending. The financial industry has seen significant losses and layoffs in recent years, prompting companies to focus on cutting costs and reducing workforce. Professor Roy Smith emphasizes the importance of accelerating layoffs and cutting operating expenses during this challenging climate. Banks have adhered to this procedure in 1987, 1990-91, 1994, 1998, and 2000-2002, according to him. The uncertainty lingers over whether the reductions will cease as the prospects for Wall Street firms improve, as the AMEX Security Broker Dealer Index .XBD has climbed over 30 percent to 181 since hitting its lowest point on March 17. In order to be prepared to capitalize on any market recovery, managers are opting to cut amenities rather than staff. As a result, at Credit Suisse, certain departments have imposed a strict $30 limit on meals for traders working late, as reported by a source familiar with the situation. Employees are no longer able to select dinner from any restaurant in town. Instead of using traditional methods, all catering orders are now placed through the online service SeamlessWeb to allow managers to better track food orders. Some employees no longer receive full reimbursement for their personal cell phone bills, as the company now only covers a portion. Car vouchers have been eliminated, requiring traders to use corporate cards for transportation expenses. Certain divisions at Merrill Lynch have removed first class and business class travel for domestic flights, as confirmed by an equity trader. Representatives from Credit Suisse and Merrill noted that these changes were not uniform across the entire company, but were instead implemented by specific teams or divisions. Even companies that have not been significantly impacted by the credit crunch are reducing costs. For example, at JPMorgan, employees may need to work late to qualify for a ride home, or stay at work for a period after ordering food on the company's account. Goldman Sachs recently stopped providing free soda on some trading floors. However, it is important for companies to be cautious with cost-cutting measures as it could have negative consequences in other areas, according to Jeff Visithpanich, a principal at compensation consultant Johnson Associates. Perhaps it appears favorable in theory, but in reality, what happens is that a group of individuals start taking extended breaks to go down to Starbucks.

In an interview with Reuters, World Bank President Robert Zoellick cautioned developing countries to brace themselves for challenges ahead as the financial crisis in Western economies unfolds. Zoellick stated that business failures, bank emergencies, and balance of payments crises are all possible consequences for developing countries. He also highlighted that the combination of a tightening financial situation and rising food and fuel prices will pose difficulties for governments in protecting the poor. A new report from the World Bank predicts that high food and fuel prices will lead to an increase in malnourished individuals worldwide by 44 million in 2008, surpassing 960 million. Zoellick also noted that the bank has identified approximately 28 countries that may encounter fiscal challenges in the near future. He stated that he would reveal the details on Thursday before meetings of finance leaders in Washington over the weekend. Zoellick explained to Reuters that it is important to consider the risks to growth in developing countries and the impact of their policies and support from organizations like the World Bank. He expressed optimism about the potential for sub-Saharan Africa to become a hub of growth in the future, but emphasized that it would require action and investments. The World Bank is collaborating with developing countries to help them understand the services available to them in order to prepare for any financial challenges. The financial crisis poses a significant threat to the progress made in developing countries in terms of economic growth and poverty reduction. Between 1997 and 2007, an average of 6 percent growth was seen in 17 countries in Sub-Saharan Africa, with most being non-oil producers. Additionally, over the same period, 8 oil-producing countries experienced an average growth of 8 percent. Zoellick expressed concerns about the potential economic challenges that may arise from the crisis originating in the United States, including frustration, fear, and anxiety. The increased interest from the private sector in developing countries is due to better economic management, reduced conflicts, and the promise of high returns on investments. Countries such as China, Brazil, India, and Gulf countries have been investing in other emerging economies, leading to a phenomenon known as south-south investment. Zoellick expressed his belief that despite the financial crisis affecting emerging economies, China would continue investing in natural resources in Africa and Gulf states would focus on agriculture. He emphasized the importance of looking towards the future and turning current problems into opportunities. Just as Western central banks and China took coordinated action to address market turmoil, Zoellick hoped they would also assist developing countries with the financial crisis and the growing issue of malnourishment. He suggested that developed countries contribute to a World Bank fund to help struggling developing nations with rising food and fuel prices, providing fertilizer to farmers and energy to the poor. Additionally, he highlighted the need for support from developed countries for the World Bank and IMF to assist governments with balance of payments and challenges related to climate change and trade. "We are able to contribute, but it is necessary for the developed countries to also take coordinated action in order to support our efforts."

The sugary summer drink Rooh Afza, known for its poetic name meaning "soul refresher" and its association with Old Delhi, has crossed borders to become popular in South Asia. In Pakistan, it is mixed with milk and almonds for religious offerings, while in Bangladesh, it is given as a gift to new in-laws. Movies have even used it as a metaphor for beauty. In Delhi, where temperatures can exceed 100 degrees Fahrenheit, Rooh Afza is widely available. The classic taste of Rooh Afza has been updated to attract a younger audience and new customers, with the chilled drink now being served in various ways - from plastic goblets at cold-drink vendors to juice boxes in children's school bags. Hakim Abdul Majid, the founder of Rooh Afza in 1907, aimed to appeal to India, Pakistan, and Bangladesh with its sweet and herbal flavor, a beverage that has stood the test of time in the region's turbulent history. India, Pakistan, and Bangladesh all share a love for Rooh Afza, a beverage with a sweet and herbal taste that has stood the test of time despite the region's tumultuous history. As the summer heat intensifies, the drink's reputation as a natural cooler made from fruits and herbs that can lower body temperature and boost energy has led to widespread demand. The drink's survival over the years can be attributed to the ambition of a young herbalist who passed away early, and the vision of his wife, who helped her sons turn the beverage into a successful business. Rooh Afza brings in approximately $45 million in profit each year in India alone, with most of the proceeds supporting schools, universities, and clinics through a trust fund. Despite some minor changes in ingredients due to availability, the drink's formula has largely remained the same over the years, according to Hamid Ahmed, a member of the family's fourth generation who oversees the expanded food division of Hamdard Laboratories, the manufacturer of the drink. In an image provided to The New York Times, an advertisement for Rooh Afza promotes it as a drink favored by the elite during the heat season. India, Pakistan, and Bangladesh all appreciate the sweet and herbal flavor of Rooh Afza, a beverage with a rich history in the region. Now, it is trying to attract a new generation of consumers. The glass bottles that once flew off the shelves of Majid's small medicine store, called Hamdard, have now been replaced with plastic bottles. Majid passed away at the age of 34, leaving behind his wife, Rabea Begum, and two sons - one was 14 years old, and the other was just a toddler. Begum made a crucial decision to transform Hamdard into a lasting presence and developed a strategy to maintain its profitability through welfare efforts during a turbulent political period in the country. She established Hamdard as a trust, with herself and her two young sons serving as trustees. The earnings would not benefit the family, but would mostly go towards public welfare. The company faced its greatest challenge during India's partition in 1947 following independence from the British. Pakistan was created as a separate Muslim nation, resulting in a mass migration of millions of people who endured a difficult journey by foot and crowded trains to reach the correct side of the border. Between 1 to 2 million people perished during this time, and families, including Begum's, were separated. An image provided to The New York Times shows Rabea Begum, the wife of Hakim Abdul Majid, who made the decision to channel profits from Rooh Afza into a trust for public welfare after his death. Rooh Afza, a beloved beverage in India, Pakistan, and Bangladesh, has withstood the region's turbulent history and is now seeking to appeal to a new generation. Hakim Abdul Hamid, their son, remained in India where he became a respected academic and managed Hamdard India. India, Pakistan, and Bangladesh all share a love for the sweet and herbal flavor of Rooh Afza, a beverage that has been popular despite the region's tumultuous history. Now, efforts are being made to introduce this drink to a new generation. Hakim Mohamad Said, who had previously been involved with Hamdard India, moved to Pakistan to establish Hamdard Pakistan and begin production of Rooh Afza there. Eventually, he became the governor of Pakistan's Sindh province but was tragically assassinated in 1998. Following the split of Pakistan in 1971, which resulted in the creation of Bangladesh, the facilities producing Rooh Afza in those regions formed their own trust: Hamdard Bangladesh. All three businesses are operated independently by extended family members or friends of the young herbalist. Despite slight variations due to regional climate differences affecting the herbs, they all offer a similar taste. The drink is popular during summer, but there is a particularly high demand during the Muslim fasting month of Ramadan. Enjoying a glass of chilled Rooh Afza can provide a refreshing boost of energy and flavor around the dinner table or in the bazaars at the end of the day. Employees are seen checking bottles of Rooh Afza at a factory in Gurgaon, India, on April 14, 2021. India, Pakistan, and Bangladesh all share a love for the sweet and herbal flavor of Rooh Afza, a beverage that has a long history in the region. Now, it is seeking to appeal to a new generation of consumers. Faqir Muhammad, a 55-year-old porter in Karachi, Pakistan, explains that after a day of fasting during the summer, he quenches his thirst with a glass of Rooh Afza after eating a date to replenish his energy. At a factory in Gurgaon, India, employees are shown checking bottles of Rooh Afza, highlighting the drink's popularity across the region. Currently, the brand is targeting a new generation's taste preferences. In Bangladesh, Rooh Afza's marketing extends beyond flavor and refreshment to include unlikely and metaphysical aspects. Amirul Momenin Manik, deputy director of Hamdard Bangladesh, claims that experts say Rooh Afza can help COVID-19-infected patients by reducing their physical and mental weakness, although no scientific evidence is provided. Many people in Bangladesh reportedly experience heavenly sensations when they consume Rooh Afza, as it is marketed as a halal drink. During a visit to Rooh Afza's India factory in April, workers produced 270,000 bottles daily while wearing protective gear. The manufacturing process involved boiling sugar in large tanks, mixing it with fruit juices, and distilling over a dozen herbs and flowers such as chicory, rose, white water lily, sandalwood, and wild mint. In a photo received by The New York Times, employees at a Rooh Afza factory in India are seen preparing the sugar syrup for the popular drink. This beverage, loved by India, Pakistan, and Bangladesh, has withstood the region's tumultuous past and is now looking to attract a new generation of consumers. At the loading dock, two trucks are loaded with over 1,000 bottles each day and distributed to warehouses and markets throughout India. Ahmed, who oversees Hamdard's food division and focuses on Rooh Afza, is working on expanding the brand by introducing new products to appeal to consumers who have outgrown the drink in their younger years. Some new offerings include juice boxes combining Rooh Afza with fruit juice, a Rooh Afza yogurt drink, and a Rooh Afza milkshake. Research by the company found that half of Rooh Afza in Indian households is used as a flavor in milk, while the other half is used in cold drinks. To cater to changing tastes, Ahmed introduced a Rooh Afza milkshake made with Rooh Afza, milk, and vanilla. Now it is targeting the taste preferences of a new generation. (Rebecca Conway/The New York Times) Ahmed expressed that the milkshake has been very successful. He also takes pride in two specific products. One of them is a sugar-free variation of the original Rooh Afza, which took 15 years to develop as the company searched for a suitable sugar substitute. Priced at more than double the original, it appeals to a wealthier demographic. In New Delhi on April 15, 2021, Muslims in India break their Ramadan fast with snacks and Rooh Afza. The sweet and herbal taste of Rooh Afza is enjoyed in India, Pakistan, and Bangladesh, despite the region's turbulent history. Now, the beverage is looking to appeal to a new generation. Ahmed, a runner, notes a growing market for health-conscious individuals who carefully monitor their diet. Additionally, there is potential for the original, sugary Rooh Afza to further penetrate India's large market. He is focusing on customers who cannot purchase the 750-milliliter bottle that costs $2, by providing single-use sachets for 15 cents - a tactic that transformed the accessibility of shampoo brands in India. In many regions of India, the prevalence of malnutrition is so severe that sugar is appreciated. "In fact, people in India desire sugar," Ahmed stated. "Only the metropolitan areas are aware of the dangers of diabetes."

An AstraZeneca representative stated in an email that the AZD1222 vaccine candidate contains the genetic material of the SARS-CoV-2 virus spike protein, and the changes in the genetic code of the new viral strain do not affect the structure of the spike protein. Drug manufacturers are rushing to test their COVID-19 vaccines against the highly contagious new variant of the virus spreading rapidly in Britain, presenting a new challenge in the race to control the pandemic. The representative also mentioned that through vaccination with AZD1222, the immune system is trained to recognize various parts of the spike protein to help eliminate the virus if exposed later on. The B.1.1.7 lineage mutation, which is more infectious and concerning for children, has caused turmoil in Britain, leading to travel bans that are disrupting trade with Europe and potentially isolating the country further. The AstraZeneca-Oxford vaccine is seen as important for poorer countries and regions with warm climates due to its affordability, ease of transport, and ability to be stored for extended periods at regular refrigerator temperatures. Recent data from AstraZeneca's trials in the UK and Brazil revealed that the vaccine had an efficacy of 62% for participants who received two full doses, but 90% for a smaller group who received a half dose followed by a full dose. Reuters reported on Tuesday that India is expected to authorize the emergency use of AstraZeneca's vaccine by the following week.

Finance adviser AB Mirza Azizul Islam mentioned that it is impossible to assure a decrease in commodity prices due to various factors like economic policy, monetary policy, and international market conditions. He clarified that the media had only partially quoted his remarks, where he made an allusion to Shayesta Khan to illustrate the current market situation. Islam stated that while the allusion was not explained incorrectly, it was not fully represented in the published reports. I wanted to emphasize the importance of addressing various factors in any economic scenario. It is not realistic to anticipate a decrease in market prices. We are actively working to regulate and reduce prices. The adviser mentioned that the government has implemented three strategies, such as eliminating import duties on food items, reducing the costs of food production ingredients, and lowering corporate taxes, to help control production expenses. However, despite these measures, prices remain high due to the global market conditions, according to Mirza Aziz. The government has started three distinct welfare projects to address the situation, including the creation of 100-day work programs for rural residents, pregnancy allowances, and stipends for male students. According to the adviser, these projects will assist families in boosting their purchasing power. Regarding the increase in fuel prices, he mentioned that the government will still need to provide a subsidy of Tk 10,000 crore to the energy sector. If prices had not been raised, the subsidy amount would have been Tk 17,000 crore. "The finance adviser mentioned that the increase is relatively small when compared to international market prices. Prior to this, Mirza Aziz had a meeting regarding the use of budget allocation to shield the country from the effects of climate change. To manage the Tk 300 crore allocated for the 2008-09 fiscal year, the government has opted to establish a foundation or trust. The board of trustees will not be permitted to expend more than two-thirds of the allocation, with the rest being held in reserve. Any interest accrued will be given to the trustees, who can also seek foreign aid if needed, as stated by the adviser." He mentioned that the initiative has received a favorable response from both The World Bank and UNDP. Additionally, a steering committee comprising representatives from various ministries will be established.

A senior UBS analyst in Singapore stated that many Asian companies are not fully aware of the potential financial impacts of carbon pricing in the region, as well as the risk of facing carbon import duties on their products. Sectors such as airlines, cement, steel, computer manufacturers, and shipping companies could be affected based on their profit margins, ability to pass on costs, and exposure to the United States and Europe. The analyst mentioned that a significant climate conference in Denmark in December could lead to broader implementation of carbon pricing in Asia, with a carbon tax or emissions trading affecting numerous companies across the region within three years. He also noted that investors in Asia tend to overlook this issue due to their short-term focus and belief that governments in India and China do not prioritize climate change. Author Smiles recently published a major UBS report titled "How could carbon pricing impact Asian company earnings?" in which he examined three scenarios: domestic carbon pricing in Asian countries; "equalizing" carbon import duties between richer and poorer nations; and harsher climate change carbon import duties. He suggested that the second scenario was the most probable in the near future, citing hints from the United States and the European Union regarding potential duties on products from countries without greenhouse gas regulations. The Waxman-Markey climate bill, which has not yet been voted on in Congress, includes a proposal for an international reserve allowance program. This scenario would require American companies to purchase energy-intensive products from countries that do not have the same emissions goals as the United States. These US companies would need to purchase allowances to compensate for the carbon emissions associated with foreign goods like cement or steel. According to Smiles, under this second scenario, marine transport companies, airlines, steel manufacturers, and tech firms would be impacted as exporters would be responsible for paying for the carbon emissions based on the CO2 they release, while domestic companies would not. As carbon pricing is implemented in the US, more than half of global private consumption will be subject to carbon pricing. They would be in a better position to potentially implement import duties related to carbon, according to the report. Taiwan's Eva Airways would experience the largest impact among Asian airlines, with a 34.3 percent decrease in earnings per share based on 2010 projections and a carbon price of US$9 per tonne. Siam City Cement in Thailand would see a 10.6 percent decrease in EPS, while Hyundai Merchant Marine in South Korea would experience a 51.4 percent drop. The most affected industries under the first scenario, where companies pay for their CO2 emissions, include airlines, power utilities, marine transport, and cement makers. The study assumed that Asian countries would implement domestic carbon taxes or trading schemes aiming for a 20 percent reduction in CO2 emissions. China Airlines is expected to experience a significant drop in its 2010 EPS due to its high exposure to the United States and EU, as well as a 30 percent fuel cost exposure and slightly negative earnings margin. On the other hand, Singapore Airlines' EPS is projected to decrease by only 8.6 percent, attributed to its 9.5 percent net profit margin and slightly lower fuel cost exposure. The report suggests that the third scenario, in which exporters of manufactured goods would bear the cost of the CO2 emissions of their home countries, seems less likely at the moment. This scenario was aimed at pressuring countries like China and India to join global efforts in combating climate change. Smiles mentioned that the report examines the potential costs of implementing a domestic carbon pricing regime in these countries. It was believed that the US and Europe placed a uniform tax on all manufactured exports from various countries, resulting in China facing a carbon cost of $55 billion and India facing a cost of $9 billion in 2007.

The International Civil Aviation Organization (ICAO) has developed a global carbon offsetting system for the aviation industry, which is the first of its kind. This system is expected to help slow down the growth of emissions from commercial flights and will cost the industry less than 2 percent of its revenues. However, individual governments still need to take action to implement the agreement's limitations. The system will start as voluntary from 2021 to 2026 and become mandatory from 2027 for countries with larger aviation industries. Airlines will need to purchase carbon credits from specific environmental projects worldwide to offset the increase in emissions. According to Olumuyiwa Benard Aliu, president of ICAO's governing council, the system is a result of compromises and consensus among stakeholders. Aliu stated that objections from a few countries would not stop the plan from moving forward. He mentioned that 65 countries, which account for over 80 percent of aviation activity, have already joined the voluntary first phases, exceeding the agency's expectations. Participation is expected to increase further. The main tensions are between developed nations, who have been the biggest emitters of greenhouse gases in the past, and emerging and developing countries worried about the additional costs affecting growth. Russia and India have declined to participate in the voluntary phases, claiming that the deal unfairly burdens emerging countries. On the other hand, China has announced its intention to join the voluntary phase. Brazil, which previously had concerns, has now expressed support for the deal without confirming whether it will participate in the initial phases. According to ICAO data, the agreement is estimated to cost airlines between $1.5 billion and $6.2 billion in 2025, depending on future carbon prices, and no more than 1.8 percent of industry revenues by 2035. Despite airlines operating on slim margins, averaging 4 percent over the past decade, the International Air Transport Association has stated that the deal is more cost-effective than a fragmented system of national and regional climate agreements. IATA Vice President Paul Steele believes the additional cost is manageable for the industry. The US Department of State, which advocated for a deal, stated that it would lead the industry towards sustainable, carbon-neutral growth. However, environmentalists argued that due to the voluntary phase and exceptions for smaller markets, the scheme would not achieve its goals. The International Council on Clean Transportation estimated that airlines would only need to offset about three-quarters of growth after 2021, or one-quarter of total international traffic. Critics also expressed concerns about the deal's reliance on offsets, with Transport and Environment director Bill Hemmings stating that it would not reduce the demand for jet fuel. Discussions will now focus on the technical aspects of the agreement, particularly regarding the types of offset credits that will be deemed acceptable. The deal was approved by an assembly of ICAO's 191 member states in Montreal and will apply to international passenger and cargo flights, as well as business jets that emit more than 10,000 tonnes of emissions annually. Previous negotiations nearly led to a trade war before the 2013 ICAO assembly, when the European Union, frustrated by slow progress, required foreign airlines to purchase credits under its program. This move was seen as a violation of sovereignty by China and other countries. The agreement was reached just one day after the Paris climate change accord went into effect. Aviation was not included in the agreement, even though the sector is responsible for approximately 2 percent of carbon dioxide emissions, a greater amount than some industrialized countries. With the industry anticipating a doubling of passenger numbers to 7 billion by 2034, it is crucial to limit the increase in aircraft pollution in order to meet the temperature goals set by the Paris agreement, according to Lou Leonard, a vice president at the World Wildlife Fund.

According to a survey commissioned by HSBC Bank International, expatriates living in Asia and the Middle East are among the highest-paid in the world. The survey found that a significant portion of expats in Russia, Japan, and Qatar earn more than $250,000 annually. Additionally, a large percentage of expats in countries such as Hong Kong, the United Arab Emirates, Thailand, and India earn over $200,000 per year. Countries like Malaysia, China, and India were noted for being among the most affordable in terms of accommodation costs. The survey concluded that Asia is home to some of the highest-paid expats, with a quarter of them earning over $200,000 annually. Russia ranked as the top country for expats in terms of wealth, with the rest of the top nine being in Asia and the Middle East. Many expats enjoy the benefit of building a nest egg, with Saudi Arabia, Russia, Qatar, India, and the United Arab Emirates being the top five countries where people have increased their savings. However, the global economic crisis has significantly impacted expats in Britain and the United States, with nearly a quarter considering returning home due to high living costs, lack of savings, and lower wages. Generous salaries are also hard to come by in Australia and Belgium, according to the survey. More than 60 percent of expatriates in both countries earn less than $100,000, making them the lowest paid expats compared to a global average of 35 percent. The largest survey, Expat Explorer, conducted by HSBC Bank International, found that despite the economic downturn, expats remain a wealthy group, with over half earning $100,000 and above. The survey included more than 3,100 expats from 26 countries, making it the largest of its kind. More than two-thirds of expatriates around the world stated that the credit crisis had impacted the way they manage their finances, particularly affecting their spending on luxuries and day-to-day expenses. Almost 40 percent mentioned that they were increasing their savings for unforeseen circumstances. The survey revealed that over half of expats in Japan, the highest percentage globally at 53 percent, were reducing their expenditures on vacations and other indulgences, while nearly half of expats in Thailand and Hong Kong, ranking second and third globally, were also making cutbacks. On the other hand, two-thirds of expats residing in Qatar believed that the global financial crisis would not influence their spending habits, followed by more than half of expats in Bahrain, suggesting that certain oil-rich Gulf Arab countries have not been as severely impacted by the economic downturn. Expats in Saudi Arabia, Brazil, and Russia were identified as the least likely to decrease their spending on luxuries, according to the survey conducted by HSBC. The individuals surveyed were selected based on four primary factors: an annual income exceeding $200,000, a monthly disposable income exceeding $3,000, a tendency to save more while working overseas, and ownership of at least two luxury items in their current country of residence. The survey took place from February to April 2009.

A recent survey of some of the largest pension schemes in Britain revealed that only a small percentage of them disclose their investment views on issues such as climate change and company governance. The survey, which included the 20 largest occupational pension funds totaling over 250 billion pounds, found that only five of them have policies for engaging with firms on environmental, social, and governance issues. Environmental activists and campaigners have been urging big investors like pension plans and insurance funds to use their financial influence to push for change within the companies they invest in. The survey also noted that organizations like the BBC and Royal Mail are not transparent about their investments, while only BT Group's pension scheme disclosed how votes were cast on behalf of its members. The Universities Superannuation Scheme (USS) and the pension fund of the UK rail industry provided partial voting data, according to the report. The survey revealed that 15 respondents shared their largest investments. Alex van der Velden, Executive Director of FairPensions, noted that pension scheme members are worried about the impact of factors like climate change on their pensions, but are often not provided with enough information to ease their concerns.

The fourth-placed team in the top five, Arsenal, has the worst home record. Disgruntled fans have expressed their frustrations over the team's inability to finish first in the league for the twelfth consecutive season. Fans from various supporters' groups plan to protest at the upcoming match against Norwich City, calling for a change in the club's management. Wenger defended his team's character and attitude, urging fans to support them and stick together. We were defeated in the championship game at our home stadium by lower-ranked teams, but we faced challenging weather conditions. Despite this setback, we are leading the league among the top teams and are determined to make any necessary additions. Some have questioned Arsenal's ambition after only signing goalkeeper Petr Cech during the offseason, and whether manager Wenger has been given enough funds by majority stakeholder Stan Kroenke to strengthen the team. Wenger maintained that Kroenke has never hindered him from making transfers and declined to comment further on his owners personally. Arsenal's manager, the longest-serving in the team's history, emphasized the importance of working with the resources generated by the club. He mentioned the values he believes in and expressed that the owner has never restricted him in the transfer market, showing ambition. In terms of player availability, Santi Cazorla and Alex Oxlade-Chamberlain, who have been dealing with injuries, are both ready for selection against Norwich, with Wenger indicating that one of the two could be involved in the upcoming match. Cazorla has been training with the team for two weeks, while Alex has been training for one week. The team from north London is currently five points ahead of Manchester United, who are in fifth place and have one game in hand. They are aiming to secure their spot in next season's Champions League by winning their upcoming match against Norwich on Saturday.

Sri Lanka captain Kumar Sangakkara has emphasized the importance of "mental strength and fortitude" for his team at the Twenty20 World Cup, especially after the traumatic incident in Lahore where their team bus was attacked by armed militants. Sangakkara acknowledged that there is never a 100 percent guarantee of safety in life, but stressed the need for his team to remain resilient and focused on playing cricket. He mentioned that security concerns are a global issue for all teams in the current world climate, and expressed satisfaction with the measures put in place for their safety so far. Six members of the Sri Lanka team, including Sangakkara, were injured when gunmen attacked their team bus on the way to the Gaddafi Stadium for the second test against Pakistan in March. Six Pakistani policemen and the bus driver carrying match officials were killed in the incident. The Sri Lanka team is in regular communication with a national police intelligence cell established to monitor security for the upcoming World Cup in England. Steve Elworthy, the World Twenty20 tournament director and former South Africa player, noted that security measures have significantly increased since the Lahore attack. Elworthy informed Reuters that the current situation is vastly different from before, prompting a heightened awareness of the dangers faced by cricketers and officials. Despite having a security plan in place for the event, recent events have prompted a thorough review and reassessment of their strategies. Tournament organizers and the ICC are confident that they have taken all necessary precautions to ensure the safety of the players, including providing police convoys for transportation and dedicated security staff for each team. Elworthy mentioned that he was unable to disclose the specific information about team security. Leading the security for the event is John Evans, the former chief constable of Devon and Cornwall in south-west England, who has also provided advice on security matters to the Football Association (FA). Reg Dickason, the head of security for the England team, and the ICC's independent security consultants are also involved. Despite the heightened security measures, Sangakkara stated that his team has remained focused on cricket and the tournament feels like any other, thanks to the efforts made to keep everything low-key. "We are able to focus solely on cricket, which is a great opportunity and something we appreciate."

The 78-year-old pontiff delivered a message to the United States Congress, emphasizing that America's power and wealth should be used to serve humanity and urging the nation not to turn its back on "the stranger in our midst." Pope Francis, who was born in Argentina to an Italian immigrant family, addressed a wide range of issues in his speech that touched on liberal concerns as well as conservative values and Catholic teachings on the family. He called for an end to the death penalty, advocated for a more equitable economy to help those in poverty, and urged greater efforts to combat climate change. Later, he was cheered by crowds in New York as he traveled to St. Patrick's Cathedral. The pope was warmly received by a crowd of 3,000 in the cathedral for an evening prayer service, with organ music playing and a chorus singing. He is scheduled to address the United Nations General Assembly in New York on Friday and to celebrate an open-air Mass in Philadelphia on Sunday. Despite receiving applause from both Democrats and Republicans, the pope's plea on immigration has been met with harsh rhetoric, particularly from Republican front-runner Donald Trump, who has vowed to deport all 11 million illegal immigrants, most of whom are from Latin America. Trump has also accused Mexico of sending criminals across the border. In his address, Francis discussed an issue that has caused the Republicans to lose support among Hispanic voters, emphasizing that America should not be deterred by the influx of immigrants from the south seeking a better life. He stressed the importance of seeing these individuals as people, hearing their stories, and responding to their situation with compassion, fairness, and brotherhood. Francis was accompanied by two prominent American Catholics, House Speaker John Boehner and Vice President Joe Biden, during his speech, where Boehner was visibly moved to tears. The United States has been struggling for a long time to decide what to do with illegal immigrants. Last year, Republicans in Congress blocked a bipartisan effort to change immigration laws that would have given illegal immigrants a chance to become US citizens. According to a Pew Research Center poll in May, 51 percent of 2,002 U.S. adults believe immigrants strengthen the country with their hard work and talents, while 41 percent think immigrants are a burden because they take jobs, housing, and healthcare. It is uncertain whether the pope's speech will change opinions on immigration. "It doesn't change my views," said Michael Tipsword, a student at George Washington University and a Catholic. He stated that Francis' stance on immigration is more focused on humanitarian concerns rather than politics. Tipsword, who identifies as a strong conservative, made this statement while watching the pope's speech at the US Capitol building. Francis, referencing American icons Abraham Lincoln and Martin Luther King Jr., urged lawmakers to prioritize unity over partisan conflicts in order to achieve the greatest common good. Presidential candidates from both parties used the pope's remarks to support their own beliefs. The pope also emphasized the importance of protecting human life at all stages, mentioning issues like abortion and euthanasia. He quickly shifted his focus to advocating for the abolition of the death penalty, emphasizing the sanctity of every life and the potential benefits of rehabilitating criminals. He also condemned the global arms trade fueled by blood money and criticized the silence surrounding it. Despite appealing to conservatives by expressing his opposition to same-sex marriage and questioning the foundations of marriage and family, he continued to emphasize his message of helping the poor by going directly from the US Capitol to have lunch with homeless individuals, stressing that there is no justification for homelessness.

According to the World Bank, cities have the potential to play a significant role in combating global warming, as they can act more quickly than governments who are struggling to reach a consensus on a UN climate agreement. Andrew Steer, the World Bank's special envoy for climate change, pointed out that the 10 largest cities in the world emit more greenhouse gases than Japan. He recommended implementing reforms, such as changes to carbon markets, to help cities become more environmentally friendly. A World Bank study highlighted that urban areas, where over half of the world's population resides and contribute to two-thirds of greenhouse gas emissions, could make a difference by adopting greener transportation, utilizing clean energy, and improving waste recycling practices. Steer emphasized that cities are both a major contributor to climate change and a key player in finding solutions to combat it. The report stated that the world's 50 largest cities have significant economic influence, ranking just behind the United States and ahead of China in terms of gross domestic product. Tokyo and New York were highlighted as having economies larger than Canada or Turkey. The UN climate talks, aiming to reach a consensus on measures to combat global warming at the upcoming Cancun conference from Nov. 29 to Dec. 10, face challenges due to the diverse opinions of 194 countries. In 2008, over 1,000 US mayors committed to reducing greenhouse gas emissions in alignment with the UN's Kyoto Protocol, which was not ratified by Washington. Sea levels pose a threat to many major cities around the world that are located near coasts or rivers, such as Tokyo, Shanghai, New York, and Buenos Aires. In order to reduce the risks of floods or sea level rise, these cities have a strong incentive to take action. The World Bank is in favor of revamping a UN market mechanism that currently encourages investments in individual projects in developing nations, like solar panels in Morocco or hydropower in Honduras, to instead allow for a broader, city-wide approach. This proposed reform of the UN's Clean Development Mechanism (CDM) would enable mayors to secure funding for various initiatives, ranging from flood barriers to hydrogen-powered buses, without needing approval for each individual project. The CDM currently allows companies to invest in environmentally friendly projects in developing countries and receive credits for reduced emissions. The World Bank believes that the challenges of measuring emissions for cities are manageable. Steer also mentioned that the opinions of urban residents regarding the ideal living locations were changing. In previous years, due to high levels of industrial air pollution, poorer populations resided in areas like the east side of London. However, in the future, it is predicted that low-lying areas prone to river floods or rising sea levels will be inhabited by the poor.

The UN climate agency has called for a special summit to address climate change, but stated that high-level ministerial talks could also be effective if world leaders are not willing to participate. Yvo de Boer, the head of the UN Climate Change Secretariat, noted that UN Secretary-General Ban Ki-moon had agreed to send envoys to assess government willingness for a high-level meeting on global warming during talks in New York. De Boer stated that Ban's envoys would investigate the possibility of a high-level meeting, potentially during the UN General Assembly in New York in September, and clarified that it did not necessarily have to involve heads of state. "It could be a different level, like foreign affairs or energy ministers." Ban stated on March 1 that global warming was as big a threat as war and called on the United States to take a leading role in addressing climate change. However, Ban's spokeswoman confirmed that despite requests from UN environment agencies, there were no current plans to organize a summit. "I don't see it as a change of heart. What is being considered is a high-level meeting to involve a wider range of participants - including foreign affairs, energy, trade, economy, and transportation," de Boer explained. He stated that there is a need for a more extensive effort and broader support, regardless of whether or not leaders convene. Discussions on a global effort to combat climate change, largely attributed to the burning of fossil fuels, have come to a halt. Reports from the UN this year suggest that human activities are likely contributing to global warming, which could result in increased hunger, droughts, floods, heatwaves, melting glaciers, and rising sea levels. De Boer stressed the importance of accelerating discussions on expanding the UN Kyoto Protocol, which mandates emissions reductions for 35 industrialized nations until 2012. The United States and Australia withdrew from the agreement in 2001, citing concerns over the high costs associated with Kyoto. The Kyoto nations represent just one third of global carbon dioxide emissions, with only Russia committed to a Kyoto target among the top four emitters - the United States, China, Russia, and India. De Boer suggested that a new meeting could expand upon the Group of Eight summit in June, where German Chancellor Angela Merkel plans to address climate change. The G8 summit will also include leaders from China, India, Brazil, Mexico, and South Africa, who together account for the majority of worldwide carbon dioxide emissions. De Boer mentioned that the G8 summit does not include certain groups like small island states, the poorest nations in sub-Saharan Africa, and Australia, which are all affected by issues like rising seas. The next round of formal UN climate negotiations will take place in Bali, Indonesia, in December, where environment ministers will meet.

Ugandan authorities discovered an unexploded suicide vest and apprehended six individuals suspected of planning the bombings that killed 76 soccer fans. The attacks, claimed by Somali al Shabaab Islamists linked to al Qaeda, targeted a restaurant and a rugby club in Uganda's capital during the World Cup final. The group's claim of responsibility was deemed authentic by a senior U.S. official, marking the first time al Shabaab had carried out an attack outside of Somalia. President Barack Obama described the timing of the explosions, which coincided with the World Cup in South Africa, as "tragic and ironic." Obama spoke about two contrasting visions for Africa - one of progress and unity, and the other of destruction and death by groups like al Qaeda and Al Shabaab. The U.S. government has been working with Uganda and other countries in the region to prevent future attacks and share intelligence. Despite a tip-off received by Ugandan intelligence officials, Washington claims to have had no advance warning of the recent attack. The Uganda source reported that an informant from the Kisenyi suburb of Kampala informed intelligence officials on June 17 about a planned attack by Somalis during the World Cup. The official stated that over 20 individuals, including Somalis and Ugandans, were involved in the planning of the attacks. Six individuals have been arrested so far in connection with the plot. Al Shabaab has threatened further attacks unless Uganda and Burundi remove their peacekeepers from the African Union peacekeeping force in Somalia, where the militants are engaged in combat with the government and control significant portions of the country. The police found a suicide vest on Monday at a third location, which was designed to be planted rather than worn. A man named Yonis, who is an assistant to al Shabaab spokesman Sheikh Ali Mohamud Rage, told Reuters that those who carried out the attack were blessed with rage and were expected to have a long life, indicating that there was no suicide bombing involved. In addition to banning alcohol, al Shabaab has also prohibited watching soccer matches in areas under its control. Coordinated attacks are a common tactic of al Qaeda and groups associated with Osama bin Laden's militant network. For al Shabaab, this would mark their first attempt at extending their influence beyond their borders. U.S. Homeland Security Secretary Janet Napolitano expressed concern about the group's efforts to expand their reach internationally during an African summit. She emphasized the importance of being proactive in preventing terrorist attacks, especially those connected to al Shabaab, which has ties to al Qaeda in East Africa and the Arabian Peninsula. The official mentioned that the attack in Kampala was consistent with threats to expand their targets, but did not directly address whether the group posed a specific threat to the United States. President Obama stated in an interview that terrorist organizations do not value African life and use the continent as a battleground for their ideological wars, disregarding the consequences for innocent lives. The African Union confirmed that Uganda would still host a summit of African leaders despite the attack, and the regional bloc IGAD vowed to continue supporting the government in Somalia. Executive secretary Mahboud Maalim announced plans to increase peacekeepers in Somalia to over 8,000 by the second week of August. Last week, members of IGAD including Kenya, Uganda, Sudan, Ethiopia, Somalia, and Djibouti expressed their desire for 20,000 troops from the AU and United Nations to be deployed in Somalia. Uganda's opposition party, Forum for Democratic Change, called on President Yoweri Museveni to withdraw his peacekeepers, stating that there is no peace to keep in Somalia and Uganda has no strategic interest there. The party indicated that if they were to win elections in 2011, they would plan a withdrawal. According to party spokesman Wafula Oguttu, Uganda is sacrificing its children for no reason. Analysts believe that a sustained bombing campaign would harm Uganda's investment climate, but a single attack would not likely deter major companies like Tullow Oil from investing in the country. Foreign direct investment in the third largest economy in East Africa has increased significantly due to oil exploration near the western border with the Democratic Republic of Congo. One American citizen was killed in the incident, and five others who were injured have been transported to Johannesburg and Nairobi for treatment. The U.S. State Department has confirmed that an FBI team is currently in Kampala.

At a meeting in Bolivia's Cochabamba region, activists and left-wing leaders emphasized the need for major polluting countries to significantly reduce greenhouse gases and consider input from smaller nations in order to combat global warming. They criticized the closed-door negotiations of the failed Copenhagen summit in December and called for a more inclusive approach at the upcoming climate change meeting in Mexico. The Cochabamba summit proposed a 50 percent reduction in emissions by leading industrial nations, a more ambitious target than the Copenhagen Accord's pledges of 7 to 16 percent cuts. Bolivian President Evo Morales urged developed countries to prioritize the well-being of all people in their decision-making process at the Mexico meeting. During the summit, Morales caused controversy by suggesting that consuming hormone-fed chicken leads to "sexual deviation" in men and that European men experience hair loss due to genetically modified food. The World People's Conference on Climate Change and the Rights of Mother Earth, attended by 20,000 environmentalists and representatives from 90 governments, targeted capitalism, genetically modified food, and global warming. Indigenous groups from various countries participated in the event in Tiquipaya, which featured concerts, theater, a handicrafts market, and artists painting murals. Bolivia, Venezuela, Cuba, Nicaragua, Ecuador, Sudan, and Saudi Arabia, all critics of the Copenhagen accord, could support resolutions despite being smaller countries. The crisis of climate change, predominantly affecting southern regions, was emphasized at the conference. Canadian author Naomi Klein stated that if the simple fact of justice and decency is acknowledged, southern countries will no longer need to beg for aid. Klein, a well-known activist against global warming, believes that the meeting in Cochabamba could strengthen an alliance among nations already facing the impacts of climate change. She emphasized the importance of unity among developing countries and proposed the creation of an international tribunal to hold accountable those responsible for global warming. Additionally, the meeting called for a global referendum on climate change and the establishment of a fund to assist nations dealing with the effects of global warming. The resolutions from the summit are not mandatory, but countries and social organizations who participated have committed to garnering support for them leading up to the United Nations summit on climate change in Cancun, Mexico in December. Alicia Barcena, the top UN representative at the meeting, expressed on Tuesday that it was time for the organization to acknowledge that grassroots groups were excluded from the Copenhagen summit. She expressed doubt about the effectiveness of the Cancun summit, stating that Rio+20 should be the focus, as she believes Cancun will not resolve the issues. In late 2010, the UN General Assembly passed a resolution to host the Rio+20 Earth Summit on Sustainable Development in Rio de Janeiro in 2012.

The European Union executive emphasized the importance of EU states fulfilling their commitments to increase aid to impoverished nations, stating that failing to meet U.N. goals would have dire consequences for developing countries and global stability. While progress has been made towards the Millennium Development Goals, millions of children still die from preventable diseases, many lack access to clean water, a significant number do not have access to education, and millions of women are illiterate. The Commission stressed that achieving these goals is crucial for developing countries, Europe, and global stability, and urged increased political and public support to reach these targets by 2015. The EU executive called on EU states to uphold their promises to increase development aid to 0.56 percent of Gross National Income by 2010 and 0.7 percent by 2015, citing this as essential in addressing issues such as migration, security, and climate change. The European Union has asked all 27 member states to create financial plans that show yearly increases in order to meet aid goals. Despite being the world's largest aid donor, the EU committed over 46 billion euros in 2007, a decrease of about 1.7 billion euros from the previous year. This decrease could have funded thousands of schools and hospitals. Aid and development Commissioner Louis Michel described this as a "serious failure." The Commission is calling for more effective aid by avoiding duplication, promoting the use of biofuels in developing countries to combat poverty, and taking steps to prevent brain drains in areas such as health, education, and research. The Commission believes that fundamental principles of aid effectiveness are not being followed and plans to propose solutions on a state-by-state basis. The text called for the allocation of 2 billion euros ($3.15 billion) by 2010 to the Aid for Trade programme, which aims to assist poorer countries in taking advantage of export opportunities, particularly focusing on African, Caribbean, and Pacific states. Commission President Jose Manuel Barroso emphasized the need for action in 2008, stating that delivering on promises is crucial for maintaining credibility. A recent report by the Organisation for Economic Cooperation and Development indicated a decrease in development aid from major donors, largely due to the completion of large debt relief packages. In 2000, 189 U.N. members agreed on goals to eradicate poverty, promote human and social development, and protect the environment. In 2005, EU leaders set goals for 2015 to reduce extreme poverty by half, ensure primary education for all children, and improve health standards. Aid from the EU reached 0.38 percent of the GNI in the previous year, falling short of the interim target of 0.39 percent for 2006, which was achieved. The European Commission calculated that Official Development Assistance equated to 93 euros per EU citizen, higher than the figures of 53 euros in the United States and 44 euros in Japan.

However, there is some disappointing news as many Oscar voters seem to be questioning whether there are even 10 outstanding films to choose from this year. While greatness is subjective, this year's Oscar contenders offer a diverse range of options including big-budget blockbusters, international dramas, and a unique comedy featuring Meryl Streep as the president. If voters are struggling to fill out their ballots, it may be because they have not explored all the available options. I have watched all the major Oscar contenders this year except for "Nightmare Alley," and while there is some consensus forming around the front-runners, there are still many exciting films that could make it into the best picture category. In addition to my predictions for the top six contenders, there are several other deserving films that should give voters plenty to consider. One question on everyone's minds is whether Steven Spielberg's new musical "West Side Story" could follow in the footsteps of the 1961 version and take home the best picture award at the Oscars. After receiving standing ovations this week, the film "West Side Story" has been elevated to the top spot. Steven Spielberg's clever re-imagining of the original material combines classic grandeur with modern issues, making it a favorite among Oscar voters. Following last year's more intimate Academy Awards ceremony, a large-scale musical by Spielberg hitting theaters only is just the kind of project that the film industry and the Oscars will likely support. In comparison, "Belfast" is a modest film with a runtime of 97 minutes, never reaching too far and ending at the perfect moment. However, this same modesty could prevent it from taking the top spot at the Oscars. Many in the academic community will appreciate Kenneth Branagh's film about an Irish family during the Troubles, but "West Side Story" has more grandeur and "Belfast" has only made about $5 million so far. The older art-house audience that could have made the film a sleeper hit has not returned to theaters yet, so awards recognition may have to come solely from admiration for the movie itself. Jane Campion's "The Power of the Dog," a western with standout performances from Benedict Cumberbatch and Kirsten Dunst, has been well-received at top fall film festivals, similar to last year's winner, "Nomadland." Campion, who was only the second woman ever nominated for best director in 1994, could potentially be in the running for a major Oscar. However, the film may have a better chance of winning in the director category rather than for best picture. The movie 'King Richard' is an inspiring drama centered around Richard Williams, the father of tennis stars Venus and Serena, and is expected to be a front-runner for best actor at this year's Oscars, with Will Smith in the lead role. The film's strong performance in the best actor category typically secures a best picture nomination as well. On the other hand, 'Being the Ricardos' directed by Aaron Sorkin, received criticism for its trailer that seemed to downplay Nicole Kidman's performance as Lucille Ball, hinting at possible issues with the film. However, once the film started showing to enthusiastic guild audiences, Kidman's unexpected transformation into a smoky-voiced character brought her closer to a potential second Oscar win. With a talented supporting cast that includes Javier Bardem, J.K. Simmons, and Nina Arianda, "Being the Ricardos" (set to release later this month) is poised to be a strong contender in the upcoming awards season. Another highly anticipated film is Adam McKay's "Don't Look Up", following the success of his previous issue-based comedies "The Big Short" and "Vice". Starring Oscar favorites Meryl Streep, Leonardo DiCaprio, Jennifer Lawrence, Mark Rylance, and Jonah Hill, this ensemble comedy about a comet threatening the world serves as a metaphor for the climate crisis, made even more relevant in the midst of the global pandemic. Amidst a crowded field of period-piece films, "Don't Look Up" stands out with its darkly comedic take on a doomed future, capturing the current zeitgeist. These two films are expected to be strong contenders in the upcoming awards season. Which other movies are still in the running for the final four spots? It is important to have a strong best-actor candidate leading your film. "Cyrano," starring Peter Dinklage, "Tick, Tick ... Boom!" with Andrew Garfield, and "The Tragedy of Macbeth" with Denzel Washington are all expected to receive a major push. Additionally, Joaquin Phoenix's "C'mon C'mon" and Mike Mills' drama about child-raising should not be discounted. Hopefully, voters will recognize that some of the best films of the year are in the best-actress category and deserve a best-picture nomination as well. The group of potential Oscar contenders this year includes Paul Thomas Anderson's "Licorice Pizza," featuring musician Alana Haim in her film acting debut, and Pedro Almodóvar's "Parallel Mothers," which earned Penélope Cruz the Volpi Cup for best actress at the Venice Film Festival. Renate Reinsve's performance in "The Worst Person in the World" at Cannes deserves more awards attention, while Maggie Gyllenhaal's "The Lost Daughter" won big at the Gotham Awards, including a trophy for Olivia Colman's lead role. Kristen Stewart's portrayal of Princess Diana in "Spencer" is generating Oscar buzz, with hopes that the film could also crack the best picture category. As the academy diversifies its membership, there is optimism for Asghar Farhadi's "A Hero" to secure a best-picture nomination, and Paolo Sorrentino's "The Hand of God" to be in the running for best director. I am interested in the movie "CODA," which is a dramedy about a hearing daughter of deaf parents. Despite having a successful premiere at Sundance in 2021, the film did not receive much attention when it was released on Apple TV+ in the summer. However, it recently won two awards at the Gotham Awards, which may help boost its popularity. On the other hand, "Dune," a sci-fi epic, is expected to do well in technical categories. The success of "West Side Story" may alleviate the pressure to nominate "Dune" for best picture just for the sake of having a blockbuster in the final 10, but I believe the film still has a good chance due to its quality and the director Denis Villeneuve's efforts to fight against corporate interference. This year's best-picture montage will appear more impressive with the addition of huge sandworms.

A draft report for European Union finance ministers suggests that by 2020, poor countries will require around 100 billion euros ($142 billion) annually to assist them in reducing emissions as part of the fight against climate change. The report, obtained by Reuters, outlines plans for competitive tenders to be held by the EU for funding from wealthier countries, where developing nations can present their most cost-effective projects for reducing carbon emissions. These documents demonstrate the EU's developing strategy leading up to the global climate talks in Copenhagen in December. Finance ministers will further refine the bloc's stance at a meeting scheduled for next Tuesday. The primary focus in Copenhagen will be securing the necessary funding to encourage developing nations to reduce emissions, as well as additional funding to help them adapt to the impacts of climate change that they argue have been caused by affluent, industrialized nations. Between 50% and 66% of the most cost-effective options for reducing greenhouse gas emissions by 2020 or 2030 are located in developing countries, according to a report by the EU's Economic Policy Committee and the Economic and Financial Committee on funding requirements. Environmentalists view this report as evidence that Europe's economic experts acknowledge the importance of supporting developing nations in combating climate change. Greenpeace campaigner Joris den Blanken questions whether finance ministers will heed the advice of their own experts and provide the necessary support to developing countries. The report suggests that emissions reductions in poor nations could be self-sustaining, as improvements in power generation and industry would lead to decreased reliance on expensive fossil fuels. However, an additional 100 billion euros annually in investments would still be necessary by 2020, including 71 billion euros for industrial and energy sector improvements, 18 billion euros for rainforest preservation, and 5 billion euros for agricultural emission reductions. The numbers may seem large, but they are less overwhelming when compared to the substantial subsidies for fossil fuels and agriculture in both the developing world and OECD states. The report states that in addition to reducing their own emissions, poorer nations will also need assistance with adapting to climate change, which may involve developing drought-resistant crops, building levees, or finding new sources of fresh water. The exact cost of adaptation in developing countries is challenging to determine due to uncertainties surrounding the impacts of global warming, but the report estimates that it could range from 23-54 billion euros per year by 2030.

Prime Minister Sheikh Hasina will aim to bring together countries most severely affected by climate change to advocate for climate funds during the upcoming 64th session of the United Nations General Assembly and Climate Summit, according to an official on Saturday. Hasina is scheduled to discuss climate change issues and engage in discussions with leaders of countries that contribute UN peacekeeping troops worldwide, among other topics, said Foreign Secretary Mohamed Mizarul Quayes at a press briefing. She is set to depart on September 21 and arrive in the US on September 22, with plans to stay for a week before returning on September 29, added Quayes, who will accompany the prime minister's delegation to the UN assembly. Hasina will be present at a meeting of 25 heads of state and government on climate change, hosted by UN Secretary-General Ban Ki-Moon on September 22, where she will work towards uniting the most severely impacted countries and addressing compensation claims for climate change, Quayes noted. As the chair of the LDC Group, Bangladesh will advocate for compensation for the least developed countries. Quayes stated that the outcome depends on the position of other countries also affected by global warming. Bangladesh is particularly vulnerable to the consequences of global warming due to manmade carbon emissions and is seeking support in terms of finance and technology for adaptation. Developing nations emphasize that they will suffer greatly from climate change despite having minimal contribution to the issue, and believe that wealthy nations should acknowledge their financial obligations in addressing this issue. The UN and World Bank have called on wealthy nations to take on "the moral responsibility". US President Barack Obama and Sheikh Hasina are expected to participate in a meeting with other countries that contribute significantly to UN peacekeeping efforts. Bangladesh plays a significant role in peacekeeping missions, with approximately 10,000 personnel participating in various missions globally. The United Nations has nearly 115,000 troops, police, and civilians involved in 16 peacekeeping missions across Africa, the Middle East, Cyprus, Kosovo, Western Sahara, and Haiti. However, these missions face challenges such as a lack of personnel, equipment, helicopters, and other essential assets. Foreign Minister Dipu Moni, who is currently in the US, will attend a ministerial meeting before the general assembly. Moni recently met with World Bank vice president Isabel Guerrero in Washington DC to discuss the bank's regional plans. Previously, Dipu Moni had a meeting with US secretary of state Hillary Clinton on Sep 17. It is planned for Dipu Moni to go back to Bangladesh during the first week of October.

Speaking at the One Planet Summit in Paris, the Prime Minister of Bangladesh announced plans to increase tree coverage by two percent in her country over the next five years. She called on developed nations to fulfill their commitments to climate justice and emphasized the importance of shared responsibility in securing the world. The summit at the Elysee Palace brought together leaders from various levels of government and finance to discuss ways to support global efforts against climate change. Despite being a developing nation, Bangladesh devotes more than one percent of its GDP to combating climate change, as it is one of the most vulnerable countries to its impact despite not being responsible for the threat. Despite our limited resources, we are working to address the consequences of climate change through both mitigation and adaptation. At the One Planet Summit in Paris hosted by French President Emmanuel Macron, Bangladeshi Prime Minister Sheikh Hasina highlighted the significant challenge her country faces due to the influx of over a million Rohingya refugees from Myanmar. She mentioned that Bangladesh has provided shelter for them on 1,783 hectares of forest land in Cox's Bazar, which has had a severe impact on the environment in that area. In this particular circumstance, adapting to climate change has become a significant challenge. Stressing the importance of afforestation in combating environmental degradation, the prime minister mentioned a $50.76 million project aimed at conserving the Sundarbans, the largest mangrove forest in the world. In the coastal areas, efforts are being made to create green belts to protect against cyclones, tidal surges, coastal erosion, and saline water intrusion. Approximately 67,000 hectares of land have been designated for afforestation in these regions. Bangladesh is increasing its efforts to make its agriculture more resilient to climate change, as well as working on reducing reliance on groundwater for urban water supply. The prime minister praised Macron's leadership on the issue and reaffirmed her commitment to implementing the 2015 Paris climate agreement. "I remember when the Global Pact for the Environment was announced at the United Nations in September of this year," stated the prime minister. She expressed her firm belief that collaborative actions for resilience and adaptation would help promote peace, stability, prosperity, and tackle social inequalities.

The G77 and China, a major influential group, withdrew from the negotiation at 3am BdST on Wednesday after developed countries refused to allocate funds separately for loss and damage. The US, Australia, and Canada were pushing for a separate mechanism for the issue. Quamrul Islam Chowdhury, a key negotiator from a developing country, stated that the walkout occurred because some parties were trying to simplify the issue of loss and damage into disaster risk reduction. Dr Ainun Nishat revealed that there were significant differences among the parties regarding the institutional mechanism, with G77 and China wanting it to be independent while some developed countries wanted it under the adaptation commitment. Developed countries were also reluctant to provide financial support for the mechanism. The Bangladesh delegation emphasized the need for a clear global understanding on mitigation, adaptation, and other issues at the COP 19 conference. Loss and damage, along with financing, technology transfer, and capacity building, were key topics of discussion. The delegation expressed disappointment that an agreement on an institutional mechanism for loss and damage had not been reached, with some parties wanting it to be part of the adaptation mechanism. Secretary for the ministry of environment and forests, Shafiqur Rahman, read out a statement during a press conference, which was also addressed by Ainun Nishat, Dr Asaduzzaman, and Md Quamrul Islam Chowdhury.

Cameron is eager to launch strikes against Islamic State in Syria soon, believing that Britain cannot rely on other countries for security following the Paris attacks. His efforts to gain approval in the House of Commons on Wednesday have caused further divisions within the Labour Party. Labour leader Jeremy Corbyn has criticized Cameron for rushing into war and urged Labour lawmakers to reconsider their support for the motion. Despite the opposition, Cameron's cabinet has agreed on extending air strikes to Syria as part of a broader strategy to combat ISIL. The debate in parliament is expected to be thorough and last 10-1/2 hours. When asked about the likelihood of securing a majority, he responded by saying, "Let's see what happens." Cameron is almost certain to receive parliamentary approval, particularly after Corbyn stated that he would allow his MPs to vote based on their own beliefs, rather than following the leader's guidance, which is a departure from the usual practice. Approximately 50 Labour MPs are expected to support the government, despite their leader's efforts to persuade them otherwise. Corbyn believed that Cameron's argument did not align with his party's principles. He emphasized the importance of each MP making their own decision on whether or not British troops should be involved in another Middle East conflict without a clear end goal. Many Britons are hesitant about getting involved in more expensive military operations in the Middle East, as previous interventions in Iraq, Libya, and Afghanistan did not bring stability and may have even contributed to the emergence of groups like Islamic State. British finance minister George Osborne estimated that extending air strikes into Syria would cost "low tens of millions of pounds." However, following the Paris attacks for which Islamic State claimed responsibility, some members of parliament who were initially against the air strikes now believe they are necessary to protect Britain from similar attacks. Defence Secretary Michael Fallon emphasized the "urgent need" for Britain to launch air strikes against Islamic State in Syria for the country's own security during discussions with MPs on Tuesday.

In a letter to the International Monetary Fund Executive Board, Covington & Burling attorney Lanny Breuer raised concerns about alleged errors in the investigation report by law firm WilmerHale, hired by the World Bank to look into data irregularities in its "Doing Business" rankings. The report accused former World Bank CEO Georgieva of pressuring staff to boost China's ranking, which she denies. Breuer, a former US Justice Department official, made these claims as Georgieva seeks support from the IMF board, which interviewed both parties and will discuss the issue again on Friday. According to a source from the French Finance Ministry, France plans to support Georgieva at the upcoming board meeting. Georgieva has denied the accusations of pressuring staff to manipulate data, calling them "outrageous and untrue." Her attorney, Breuer, stated that Georgieva has not been formally notified or given a chance to review and respond to the report's findings as required by Staff Rule 3.00. Georgieva publicly released a detailed statement to the board on Thursday. The initial phase of the investigation by the WilmerHale firm focused on board officials in accordance with the Code of Conduct for Board Officials, which is different from the staff rule mentioned by Breuer. The firm stated that they followed all World Bank rules during their investigation and informed Dr. Georgieva that their report would be presented to the World Bank Board, with the possibility of disclosing any information she provided. In an email from July, WilmerHale informed Georgieva that their review of irregularities in Doing Business data and staff misconduct was authorized by World Bank Staff Rule 3.00. As World Bank CEO in 2017, Georgieva would have been considered a member of staff rather than a board official. The email sent to Georgieva requested her to speak with investigators as they believed she may have information that could assist in their review. The World Bank's General Counsel's office stated that the investigation into the Doing Business 2018 and 2020 reports was done in accordance with World Bank regulations.

The presidents of France and Brazil emphasized the need for rich countries to increase aid for developing nations in order to combat global warming and reach a climate agreement in Copenhagen. Brazilian President Luiz Inacio Lula da Silva highlighted progress made by China and the United States in reducing greenhouse gas emissions, but stressed that more support is required for poor countries to address climate change and meet their goals. Lula emphasized the importance of assisting the less fortunate while maintaining sovereignty, citing Brazil's investment fund for the Amazon rainforest as an example where donor countries have no control. Norway has currently given the most donations. Progress in addressing how wealthy nations can assist poorer ones in combating global warming has been limited among climate negotiators. French President Nicolas Sarkozy emphasized the necessity of numerical data and financial support from developed countries to developing nations at the Copenhagen conference. Sarkozy, representing French Guyana as part of the Amazon basin, stressed the urgency of taking action immediately. Sarkozy expressed his approval of the emissions reduction target announced by Washington for 2020. The European Union estimates that $100 billion annually is needed to aid developing nations in fighting global warming. Developing countries argue that wealthy nations should contribute between 0.5 and 1 percent of their GDP. Brazil has committed to reducing its greenhouse gas emissions by up to 38.9 percent by 2020 and is pushing for a stronger presence in climate negotiations, hoping to unite Amazon nations for the upcoming Copenhagen summit. However, only one other South American leader, Bharrat Jagdeo of Guyana, attended the recent summit in Manaus.

European Union leaders have reached an agreement on a proposal to present at the global climate talks in Copenhagen in December. Developing countries will require 100 billion euros per year by 2020 to combat climate change, with 22-50 billion euros coming from the public funds of wealthy nations. The EU will contribute a portion of this amount, with expectations that it will be between 20 and 30 percent. British Prime Minister Gordon Brown believes this agreement will be a significant step towards reaching a deal in Copenhagen. Eastern European nations confirmed that the summit had resolved a disagreement regarding the division of the EU's financial responsibilities in a manner that would not negatively impact their economies during their recovery from crisis. The Polish Minister for Europe, Mikolaj Dowgielewicz, expressed satisfaction, stating, "We view this as a victory for Poland. We aim for rapid progress and do not wish to be seen as a relic of Eastern European folklore." Although leaders did not establish a specific method for dividing the bill, they delegated this task to a newly formed working group. "I would have preferred for this burden-sharing mechanism to be prepared already, but it proved to be too challenging," stated Polish Prime Minister Donald Tusk. The two-day summit secured a detailed negotiating mandate for the Copenhagen talks, which aim to find a replacement for the Kyoto Protocol, the United Nations program to combat climate change that will expire in 2012. The success of these talks will likely depend on financial resources. Developing nations are adamant that they will not commit to addressing climate change without sufficient funds from wealthier countries, which have contributed significantly to environmental damage through their reliance on oil and coal for industry over the years. Such funding could help developing countries adapt their agriculture practices or access water sources in areas affected by drought. However, European leaders have decided to postpone previous plans to provide "fast start" financing for developing nations in the three years leading up to a new climate agreement. Oxfam, an anti-poverty organization, criticized Europe's proposal, stating that it was insufficient and lacked assurances that the funds would not be taken from existing aid commitments. Oxfam's Elise Ford warned that if wealthy countries divert money from aid budgets to pay for climate debt, it would hinder the fight against poverty. The opposition from east European countries weakened after Sweden, who chaired the talks, addressed the divisive issue of "hot air" - the 17 billion euros worth of carbon permits held by eastern Europe. These countries, along with Russia and Ukraine, have spare permits for approximately 9 billion tonnes of carbon emissions that were leftover from their economic collapse after the end of communist rule. The additional permits, referred to as AAUs, can be traded to major polluting countries like Japan for approximately 10 euros per ton. Eastern European nations are in favor of continuing to sell AAUs in the new agreement that will replace Kyoto. However, some countries like Germany argue that this practice undermines the agreement's integrity and are pushing to eliminate them as they reduce the necessity for reducing greenhouse gas emissions. Sweden secured support from eastern Europe for the overall agreement by agreeing to postpone any significant actions regarding AAUs, according to an EU diplomat. The agreement also includes commitments to reducing domestic emissions, with a promise to enhance cuts to 30 percent below 1990 levels by 2020 if other countries follow suit.

Hainan, often referred to as "China's Hawaii" due to its tropical climate and beautiful beaches, has the potential to become a top tourist destination in Asia. However, it has been slow to reach that goal due to an economic downturn. After years of struggle, the tallest building in Hainan province, which was once abandoned, is now close to completion and serves as a symbol of the island's recovery efforts. Real estate sales in the area are picking up, signaling a positive turn for Hainan's tourism industry. Nearly all of the 16 million square meters of unfinished construction in Hainan following the economic crash has either been completed or demolished. Investors are now returning to the island, which is shifting towards a focus on becoming a top tourist destination to rival Thailand's beach resorts. Numerous luxury resorts are opening, and plans are in place to improve infrastructure, expand air links, and promote foreign language studies. Vice Governor Chen Cheng emphasized the importance of tourism in Hainan's development strategy. "It's very appealing," stated Ian Zheng, the Managing Director of the Pacific Alliance Asia Opportunity Fund, which has a $150 million investment in the company that owns Hainan's main airports and is also involved with a Beijing real estate firm operating in Hainan. "I do not anticipate any significant risks." If the island's beautiful coast does not immediately attract a large number of international beachgoers, the growing number of domestic tourists will likely support the industry. The vast Chinese market is a major attraction for the resorts, as they aim to capitalize on the millions of people who have benefited from the country's economic growth and are increasingly embracing Western lifestyles and aspirations. "Some estimates suggest there will be 450 million middle class Chinese in 10 years," noted Peter Pedersen, the general manager of Banyan Tree Sanya. "I believe Sanya has a great deal of potential." The recent opening of luxury resorts by major hotel operators in Sanya, including the Ritz-Carlton and Banyan Tree, shows a significant shift for Hainan, previously known for inexpensive package tours. Sanya is emerging as a top tropical destination in Asia, particularly as the only tropical island in China. Pedersen shared this perspective with Reuters. "It is increasingly popular in both the local and international tourism markets. It is an ideal location," he remarked while standing on the top of one of the resort's private pool villas, priced at around 5,000 yuan per night. Hainan, once a test-tube for development after becoming China's youngest and most economically liberal province in 1988, saw its economy grow rapidly to the point where enthusiastic officials even attempted to sell the city's main park to developers. While other coastal provinces flourished, Hainan struggled. Now, Hainan appears to be regaining stability, but analysts and investors caution that existing imbalances and conflicts could disrupt the island's recovery. In Haikou, the capital city, about 60 percent of newly built apartments are being purchased as second homes by non-locals, which Mayor Xu Tangxian admits is a problem. Xu mentioned in an interview that there are areas where all the homes have been sold, but remain unoccupied at night. Even though the majority of tourists in Hainan are from mainland China, with only 750,000 overseas visitors compared to 18 million last year, the government is striving to attract wealthy foreigners to enhance the island's reputation and economy. The provincial tourism bureau chief, Zhang Qi, stated last month that the goal is to bring in 20 well-known international hotel management groups within five years, and increase the number of five-star, internationally recognized resorts to 60 or more. With developers eagerly eyeing the tourism growth, reports of typical scandals are starting to surface. In Longqiao, a rural township near Haikou, the red earth is being plowed to create golf fairways. Local residents claim that officials persuaded them to sell their land for the development of a golf course. Tensions rose in April when rumors spread that the government had sold the land to the developer for a much higher price than what the locals received, leading to an angry mob overturning a police car. Subsequently, police reportedly used tear gas to disperse a crowd that had gathered in a nearby schoolyard. In the city of Sanya in southern China, there are concerns about bottlenecks and corruption causing delays and difficulties for investors. One Western investor mentioned facing significant challenges due to high levels of corruption. Despite these obstacles, there is still strong optimism about the potential for tourism in Hainan. The issues in Sanya are seen as just the beginning of a much larger problem. According to Pedersen from Banyan Tree Sanya, the island of Hainan remains quite large, with beaches stretching almost all the way to the capital Haikou. The island has a diameter of 350 km, and the possibilities are endless.

The author of a well-known report on global warming stated that India is likely to be more severely affected by climate change compared to other countries. This could result in poor agricultural output, increased natural disasters, and higher death rates due to an increase in diseases. Nicholas Stern, a former World Bank chief economist, warned that if greenhouse gas emissions remain unchecked, global temperatures could rise by 2-3 degrees Celsius within the next 50 years. Speaking to Indian businessmen, Stern highlighted the potential impact of changing monsoon patterns on India's economy, as the country heavily relies on these rains for crop production. He mentioned possible scenarios such as varying starting dates for the monsoon, periods of intense rainfall, and extended dry spells. He stated that it is probable that there will be disruptions. It is evident that India will face similar consequences as the rest of the world, possibly even more severe. Experts predict that if temperatures rise by 2 to 3.5 degrees Celsius, India could experience a decrease in agricultural revenue by nine to 25 percent. Agriculture contributes approximately 22 percent to India's GDP. Stern also mentioned that with temperature increases, diseases transmitted by vectors such as malaria and dengue fever could spread to higher altitude areas where mosquitoes were previously not found. The head of Britain's Economic Service warned that the melting of Himalayan glaciers could lead to increased deaths and decreased productivity. He also stated that this could result in serious floods in neighbouring Bangladesh due to rising sea levels, causing mass migration into India. Additionally, he noted that the reduced flow of water from the glaciers during India's dry season would have significant impacts. Experts predict that the melting glaciers will affect a large portion of the world's population, particularly those in the Indian subcontinent, with the Ganga river alone sustaining over 500 million people by receiving 70 percent of its summer water flow from the Himalayan glaciers. Stern noted that India was advancing in addressing challenges related to reducing emissions and supporting clean development mechanisms. He highlighted that climate change was an unfair process, with wealthier nations needing to shoulder the responsibility as they are responsible for 75 percent of greenhouse gas emissions. He emphasized that poorer countries would be disproportionately affected by climate change. Stern stressed the importance of all countries being involved in addressing climate change, but emphasized that richer nations should bear the majority of the costs due to equity considerations.

British charity Oxfam has emphasized the importance of achieving quick results at the upcoming UN climate talks in Cancún, Mexico. Oxfam highlighted the increase in weather-related disasters, record temperatures, flooding, and rising sea levels in 2010 as evidence that negotiators need to reach a resolution. According to Oxfam's report, around 21,000 people died as a result of weather-related disasters in the first nine months of 2010, more than double the number of casualties in 2009. The report's author, Tim Gore, stated that the human impacts of climate change in 2010 demonstrate the urgent need for progress in Cancún. The text also mentioned that Oxfam is advocating for a fair Climate Fund to ensure that the most vulnerable parties receive funding. The organization is emphasizing the importance of women in helping communities adapt to climate change and has recommended prioritizing them in fund allocation. It has suggested that countries explore new ways to raise funds, such as taxing unregulated international aviation and shipping emissions, and implementing a tax on financial transactions at banks. Oxfam believes that quicker action will reduce the cost of addressing climate change, noting that every dollar spent on adaptation could prevent $60 worth of destruction. Gore has stated that the outcome of the Cancun conference will not fully address the global response needed for climate change. It has the potential to produce results that will positively impact impoverished individuals. A crucial accomplishment would be the establishment of a equitable climate fund, as this would also aid in restoring confidence and getting the negotiations back on course.

In an interview with bdnews24.com from Glasgow during the final hours of negotiations at the COP26 summit on Friday, the Bangladeshi scientist stated that they are not willing to give in to our demands and are trying to block everything. Despite this, he emphasized that they will continue their efforts to push for their commitments until the end. Huq, who is the director of the International Centre for Climate Change and Development in Dhaka, has participated in all 26 COP meetings since the first one in Berlin in 1995. The promised emissions cuts by the largest climate polluters are expected to result in a dangerous 2.7-degree Celsius increase in global temperatures, significantly surpassing the more ambitious 1.5C goal of the Paris agreement endorsed by scientists. Wealthy nations, which had pledged to provide $100 billion annually from 2020 to assist developing countries in transitioning to cleaner growth and adapting to climate risks, have now postponed meeting this target until 2023. A new draft agreement released during the closing hours of the Glasgow talks called for a two-fold increase in funding to help developing nations address climate impacts, and urged countries to enhance their emissions reduction targets by next year. However, much of the draft text, aimed at facilitating a consensus among all nations, remained contentious due to disagreements over funding, the pace of emissions cuts, and the inclusion of the term "fossil fuels" in the agreement for the first time. These differences, evident after lengthy negotiations, suggest that reaching a comprehensive agreement as advocated by activists and scientists prior to the UN talks will be challenging. The scientific community agrees that in order to prevent the worst effects of global warming, the world must reduce greenhouse gas emissions by almost half by 2030. However, current targets set by countries would result in emissions continuing to increase. Professor Huq expressed determination to continue working towards an agreement, stating that the battle is not over and they will not give up. The United States and China recently announced a partnership to increase collaboration in addressing climate change, with plans to reduce methane emissions, decrease coal consumption, and preserve forests. A joint declaration on climate change by China and the US marks a return to a time when the two largest carbon emitters came together to help create the Paris Agreement in 2015. However, more action is needed from both countries to address the worsening climate crisis, including reducing fossil fuel use and encouraging other nations to do the same at the COP26 talks in Glasgow. While Professor Huq welcomed the agreement, he noted that there are still unanswered questions and emphasized the importance of both countries working together to combat pollution. The announcement lacks specific details, leaving uncertainty about what has actually occurred. Delegates and negotiators from Bangladesh, a country highly susceptible to climate impacts, shared their perspectives at various levels of the talks, both privately and publicly. The focus is on negotiation and what can be gained from different governments, as richer nations are reluctant to give easily. This is described as a challenging battle.

Australia is one of the highest per capita carbon emitters in the world due to its reliance on coal-fired power. The conservative government, led by the new deputy PM, is hesitant to commit to achieving net-zero emissions by 2050, citing concerns about job losses in the fossil fuel industry. Despite acknowledging the economic importance of coal and other fossil fuels, the government is urged to engage in a more honest and rational discussion about Australia's best interests. The UN has proposed phasing out coal by 2030 in OECD countries, including Australia, but a recent meeting of G20 energy and environment ministers did not reach an agreement on phasing out coal by 2025. Some experts believe that there is potential for progress at the UN climate talks in Glasgow in November. Prime Minister Scott Morrison has indicated that Australia is working towards achieving net-zero carbon emissions, but has not specified a timeline. He has mentioned that Australia will revise its 2030 emissions projections before the Glasgow talks. Unlike Australia, many other developed countries have committed to achieving net-zero emissions by 2050. Hart suggested that the Australian government should take advantage of the opportunity and transition to renewable energy sources. He stated that if coal is not quickly eliminated worldwide, climate change will cause widespread damage to the Australian economy, affecting industries such as agriculture, tourism, and the services sector.

The Constitutional Court invalidated the election on Friday, leading to the chairman of the Election Commission stating that it would take months before a new vote could be conducted. This situation has left Yingluck in charge of a weakened caretaker government with limited authority. The ongoing crisis is part of an eight-year conflict between Bangkok's middle class and royalist establishment on one side, and supporters of Yingluck and her brother Thaksin Shinawatra, who was removed as prime minister by the military in 2006. Thaksin is currently living in Dubai to avoid imprisonment for abuse of power. Despite showing restraint for several months, Thaksin's "red shirts" supporters are starting to become more aggressive under new hardline leaders. An upcoming major assembly is being planned for April 5. Jatuporn Prompan, chairman of the "red-shirts" United Front for Democracy Against Dictatorship, informed supporters that the destination for their upcoming event, whether it be Bangkok or elsewhere, will be revealed at a later time. Jatuporn was a key figure in organizing a "red-shirts" uprising against a previous government, which resulted in a violent military crackdown in May 2010, leading to the deaths of over 90 people in central Bangkok. Jatuporn still faces terrorism charges related to the violence in 2010. In the current political crisis, 23 individuals have lost their lives and more than 700 have been injured since November. Speaking to approximately 10,000 individuals in Pattaya, located to the southeast of Bangkok, another leader named Nisit Sintuprai issued a warning to Suthep Thaugsuban, the former opposition politician who has been leading protests against Yingluck since November. Nisit stated, "We are mobilizing once again to convey to Suthep that the majority of this country desire democracy and governance through elections. We refuse to accept a prime minister chosen by your group." Suthep's People's Democratic Reform Committee (PDRC) is advocating for unspecified electoral reforms before any election takes place, with the goal of reducing the influence of Thaksin and his strong support among the rural poor in the north and northeast regions. Political parties associated with Thaksin have emerged victorious in every election since 2001, and it is widely predicted that Yingluck's Puea Thai Party would win in any election conducted under the current system. There is a looming possibility of impeachment for Prime Minister Yingluck due to disruptions by Suthep's supporters during the election on February 2. The Constitutional Court deemed the ballot illegal as voting was not held uniformly across the country on the same day. The Election Commission will convene on Monday to determine the next steps, with reluctance to hold a new election due to the political climate. Yingluck's caretaker government faces challenges, including potential impeachment for negligence in a failed rice-buying scheme. This plan helped increase Yingluck's popularity in the 2011 election, but this year, many farmers who typically support Thaksin have protested in Bangkok due to not receiving payment for their rice. Yingluck is facing scrutiny from an anti-corruption commission and could potentially be impeached soon after. If removed from office, the Senate, which is expected to have an anti-Thaksin majority after an upcoming election, may appoint a "neutral" prime minister as demanded by anti-government protesters. Analysts believe that independent agencies are working to remove Yingluck and her cabinet in order to create a power vacuum and influence the appointment of a preferred prime minister. He mentioned that if they proceed with this plan, the government's supporters will retaliate and the second half of the year will be worse than the first half. Violence negatively impacts the economy. Despite the decrease in protesters and calm streets, the government ended the state of emergency on March 19. However, there were three grenade explosions near a Constitutional Court judge's home before the election ruling, a car bomb near a PDRC camp in north Bangkok, and near a government administrative complex disrupted by protesters. There were also explosive incidents in Chiang Mai province, a Thaksin stronghold, resulting in serious injuries. One target was Boon Rawd Brewery, which produces Singha beer. One of the family members who owns the business has been active in PDRC rallies. Consumer confidence is currently very low, leading the central bank to revise its economic growth forecast for 2014 from 3 percent to 2.7 percent. Last October, before the protests began, the forecast was 4.8 percent. The stock market did not react significantly to the court decision on Friday. Some stock analysts view the cancellation of the election as a potential positive development, as they believe it could encourage negotiations between political rivals. Standard and Poor's, a rating agency, expressed a different opinion. According to Agost Benard, the associate director of sovereign ratings, the decision made by the Thai court is likely to prolong and potentially escalate political risks in Thailand, further complicating the resolution of the country's political divide.

Farhad Saffi is feeling disheartened as he looks at his Milli Boot Factory in Kabul, where expensive machinery once produced boots for police and army, now covered in plastic sheeting. The factory, which provided jobs and showcased local manufacturing in Afghanistan, was considered a symbol of hope. However, the Afghan government's decision to source boots from China and Pakistan instead of supporting local businesses has led to the downfall of Milli. Saffi was promised contracts until 2014 by the US government but was abruptly informed of cancellation by the Afghan government, leaving him with $30 million worth of unusable raw material. When the plant opened, Afghan and US generals were eager to have their photos taken with a local success story inside large white sheds that were once used for PVC piping machinery but now house high-tech German injection molding and boot-making equipment. In 2010, US Navy Rear Admiral Kathleen Dussault visited to award 23-year-old Saffi with a quality certificate for the plant, enabling it to supply top-quality boots to the Afghan National Security Forces under contracts worth up to $40 million annually. Saffi's leather boots, which went through thorough quality testing in the US, were priced at $62 per pair, while Chinese-made boots with imitation leather cost the Afghan government $22 per pair in a contract for up to 700,000 pairs per year. Saffi explained that the Afghan government prioritizes the lowest price, despite his production costs being higher. He voiced his frustration as he looked at a room filled with leather and raw materials purchased from Taiwan, stating that the government requested him to sell the boots for $15 per pair, even though the leather alone cost him $40. The Chinese boots made of fake leather are not durable but inexpensive. Between 2002 and the end of 2011, Afghanistan received $85.5 billion for reconstruction, and $57 billion in international aid. NATO-led forces have been following "Afghan First" rules since 2010, which require them to prioritize purchasing from local companies to support the economy, create jobs, and support anti-insurgent efforts. Afghan businesses have received contracts for uniforms, boots, textiles, furniture, tents, software, and transformers, creating 15,000 jobs and saving $650 million on imports for combat-related expenses. Despite these efforts, the war in Afghanistan is estimated to cost $200 million a day. The Afghan First Policy aims to prevent local individuals from joining the Afghan Taliban fighters by providing them with better job opportunities and higher incomes. This strategy, known as the $10-a-day Talib, refers to the payment offered to potential fighters. With the withdrawal of most NATO combat troops in 2014, some of the 700 workers laid off from Saffi's factory are considering joining the Taliban due to lack of other options for employment. They believe that reopening the factory is crucial to avoid resorting to joining the Taliban for work. "We need to provide for our families," stated Ares Khan, 23, as he prepared some of the final boots to be made by Milli unless the government has a change of heart. Employees at the factory were earning between $400 and $900 per month, which is significantly higher than the average income in a country where a large portion of the 30 million residents live below the poverty line. However, there is concern among businessmen and workers that security will deteriorate once Western forces leave, resulting in a loss of job opportunities and investment. This has been a trend in Afghanistan for many years, as the wealthy elite have moved their money to safer locations. Khan's friend, Khair Mohammad, who moved from Ghazni province to Kabul, where NATO forces are currently involved in a major offensive, also believes that there is no future outside of insurgency if the Afghan government stops providing jobs. "I am the only breadwinner for my family of sixteen," Mohammad stated. Mohammad stated that upon returning to Ghazni, he would need to join the Taliban due to the high cost of living. The decision to allocate a significant portion of procurement to the Afghans was made in March as part of the transition to Afghan security and control. US Navy Lieutenant Aaron Kakiel, a logistics officer for the NATO-led coalition in Afghanistan, mentioned that this decision was made to hand over responsibility to the Defence and Interior Ministries. Kakiel stated that Afghan companies have provided a wide range of goods and services for the country's security forces, including boots, uniforms, sleeping bags, construction, and IT services. The security forces are expected to reach a total of 352,000 members. Milli is not the only company facing difficulties due to the shift towards local procurement, as other suppliers of uniforms and equipment are also feeling the impact. Another company executive, who preferred to remain anonymous, expressed concerns about the uncertainty surrounding their supply contracts, as they have invested heavily in their business but are unsure if the government will continue to contract with them or choose companies from other countries. Lieutenant-General Abdul Basir Asafzari, in charge of logistics and procurement at the Ministry of Defence, expressed concern about the company's reliance on imported materials from the US for products manufactured in Kabul. He emphasized the importance of securing contracts to avoid having to lay off employees. Currently, only 30 percent of the supplies come from Afghan companies, and President Hamid Karzai has urged the military to prioritize local firms. Asafzari explained that Milli had contracts terminated due to importing substandard boots from China and other countries, which were then falsely labeled. Consequently, the company failed to meet its obligations. According to Asafzari, there were complaints from soldiers regarding the quality of the boots. However, Mohammad Akbar Ahmadzai from the NGO Building Markets, which supports entrepreneurs in developing countries, confirmed that Milli's boots were genuine and met US quality standards. Some business experts, speaking anonymously, suggested that Milli and others may have faced challenges due to corruption and political connections, with better-connected competitors working to undermine them. NATO's Kakiel mentioned that Milli and others may have also misunderstood the contract provisions, which guaranteed only one year of sales. In 2011, US agencies contracted over $4 billion to Afghan companies out of a total of $17.3 billion through the NATO-led International Security Assistance Force in Afghanistan. More than 90 percent of the money was spent on goods purchased from Afghan vendors (49 percent), construction (28 percent), support services (11 percent), and transportation (6 percent). However, an audit conducted by the US government's Special Inspector General for Afghanistan Reconstruction (SIGAR) in January revealed that the Afghan First Initiative (AFI) had issues with insufficient contract solicitation and vetting, as well as limited data on the employment benefits claimed. Saffi, who returned to Afghanistan in 2002 after fleeing during Taliban rule to find everything destroyed, expressed doubts about both the US government and the future promised by Karzai due to his experiences. He stated, "We tried to do a good job here in this factory, but right now this has happened. The only judgment we can make is that my company and the country are going the same way." He mentioned that many people in Kabul's business community were feeling anxious due to the unstable investment environment and worsening security situation. This feeling was strengthened by a bold Taliban attack on the city center and surrounding areas in mid-April. Saffi explained that he had to hire 30 personal bodyguards to ensure his children's safety at school and had police snipers stationed on the roof of his home. He compared the struggles of his company to the challenges facing the country, saying that just as he is the president of his company, Karzai is the president of the country. As his company faced closure and declining success, he noted that his employees were also leaving. The country will experience the same thing. The president is responsible for leading his country.

The United States is being urged to join other wealthy nations in setting a 2020 goal for reducing greenhouse gases in order to improve the chances of reaching a climate deal at the upcoming Copenhagen conference. The Danish hosts emphasized the importance of the United States taking action during a meeting in Barcelona. African countries threatened to leave the Barcelona talks unless rich nations committed to more ambitious emissions reductions. The head of the UN Climate Change Secretariat stressed the necessity of a specific target from the United States at the Copenhagen conference. President Barack Obama, addressing reporters at the White House, emphasized the crucial nature of that particular element in the puzzle. He expressed optimism for a significant agreement in Copenhagen but cautioned that it may not address every issue related to the topic. Obama noted that while the deal may not solve all problems, it represents a crucial step forward and sets the stage for further progress in the future. Unlike the European Union and other developed nations, the United States has not yet established a concrete target for reducing emissions by 2020. Democrats in the US Senate are moving forward with legislation in a key committee on Tuesday, despite a boycott by minority Republicans. The proposed legislation aims to reduce US carbon dioxide emissions by 20 percent from 2005 levels. However, even if the Senate Environment and Public Works Committee approves the bill in the coming weeks, it is uncertain if it will be passed by the full Senate this year. Delegates at the Barcelona talks expressed concern about the limited time to resolve issues related to sharing emissions reductions between wealthy and developing nations, as well as finding funding to assist developing countries in addressing climate change. The inclusion of forests in the discussions is adding further complexity to the negotiations. Prime Minister Vladimir Putin stated that Moscow will emphasize the importance of considering Russia's forests' capacity to absorb carbon dioxide. After discussions with Danish Prime Minister Lars Lokke Rasmussen, Rasmussen expressed hope to have enough progress to invite world leaders to the December conference. Australia reported a decrease in emissions last year, excluding the impact of forest fires. Both Denmark and the European Union urged Obama to take more action to facilitate an agreement at the upcoming talks. Danish Climate and Energy Minister Connie Hedegaard questioned how Obama could receive the Nobel Peace Prize in Oslo on Dec. 10 and simultaneously send an unprepared delegation to Copenhagen, just a few hundred kilometers away. Swedish Environment Minister Andreas Carlgren, whose country currently holds the rotating presidency of the European Union, acknowledged a significant and genuine shift in the American stance, but believes more progress is necessary. The US delegation in Barcelona, led by Jonathan Pershing, emphasized their commitment to a UN agreement and highlighted various initiatives under Obama aimed at advancing clean energy and reducing emissions. Pershing stressed the importance of the US being a part of the Copenhagen deal, noting that the US is the second largest emitter of greenhouse gases globally, after China. Antonio Hill of Oxfam reported that African nations are pushing for stronger emissions reductions from developed countries. He also mentioned that Gambia, Ethiopia, and Algeria expressed support for leaving the UN talks. In a demonstration outside the conference center, protesters placed hundreds of ringing alarm clocks to emphasize the urgency of reaching an agreement to combat the increasing impact of climate change.

US prosecutors are seeking to have Meng Wanzhou, the Chief Financial Officer of Huawei, extradited to face allegations of deceiving banks about the company's operations in Iran, potentially violating US sanctions. Meng, the daughter of Huawei's founder, was arrested in Vancouver on Dec 1 and maintains her innocence, stating she will fight the charges if extradited to the US. The bail hearing has been postponed to Tuesday to further discuss the issue of who will take responsibility for Meng if she is released, with her lawyer proposing her husband as surety. The judge and the public prosecutor raised concerns about Meng's husband's ability to fulfill his duty since he does not reside in British Columbia, where Vancouver is located, and would not face consequences if she violated her bail conditions. Meng's arrest has caused turmoil in markets due to fears that it could worsen tensions between the United States and China, which are already high due to tariffs. Both countries have agreed to trade negotiations that must be finalized by March 1. Beijing has demanded Meng's immediate release and warned of "consequences" for Canada, but officials from both China and the US seem to be avoiding connecting her arrest to the trade dispute. Meng's attorney proposed offering C$14 million in property equity and C$1 million in cash as a guarantee, while the public prosecutor requested half of the guarantee to be in cash and half in property. During the proceedings, the judge questioned Meng's avoidance of travel to the United States since 2017, suggesting it may have been to avoid arrest. Martin argued that Meng stayed away due to the "hostile" attitude towards Huawei in the US, prompting him to ask the court to consider what reason Meng would have to flee. Martin stated that the evidence against her was not very strong. He mentioned that if she were to escape or violate any orders, it would not only be embarrassing for herself but also for China. Meng initially seemed calm and collected in court, smiling and walking with her lawyer. However, as the day progressed, she became more nervous, talking quickly and gesturing as she spoke with her legal team. She has requested to be released due to her severe hypertension and concerns for her health. Huawei is the leading provider of telecommunications network equipment globally and the second largest producer of smartphones, generating approximately $92 billion in revenue last year. Despite being a major Chinese technology company, Huawei conducts a significant portion of its business internationally. US authorities claim that Huawei attempted to utilize banks to transfer funds out of Iran, which is prohibited as companies are not allowed to use the US financial system to support sanctioned entities. Huawei and its legal team maintain that the company adheres strictly to all relevant laws, regulations, and sanctions imposed by the United States and other jurisdictions. The company stated on Monday that they will keep track of the bail hearing scheduled for tomorrow. They believe that both the Canadian and US legal systems will come to a fair decision.

Sánchez resides in Rincón, a coastal town in northwestern Puerto Rico known for its surfing and sunsets, and has become a popular destination for wealthy investors seeking tax benefits. Despite his one-story home not being for sale, numerous offers have been made by visitors interested in purchasing it, with some even handing him a blank check to fill in the amount he thinks the house is worth. This surge in investors is occurring in various picturesque towns across Puerto Rico, with some taking advantage of tax incentives aimed at attracting new residents and investments to the financially struggling island as it emerges from bankruptcy. The popularity of tax breaks increased due to the coronavirus pandemic causing many companies to transition to remote work, prompting mainland Americans to move to warmer climates. However, the arrival of wealthy new residents, who must establish residency and purchase property in Puerto Rico within two years to maintain the tax breaks, has led to higher home prices and the displacement of long-time residents. Hurricane Maria, which devastated thousands of homes in 2017, had already driven many people away from the island. The real estate boom, starting in San Juan, has spread throughout Puerto Rico, with investors moving from the city to smaller towns like Rincón. In addition to those seeking tax breaks, there are also other newcomers purchasing properties and driving up rental prices and home values. However, the finance and tech investors who have officially applied for tax-break status are the ones garnering the most attention. Among them are cryptocurrency traders, who now gather for weekly happy hours at a seaside bar in Rincón. A new barbecue food truck that started operating in August accepts various cryptocurrencies for its mainland-style chicken. The slow spread of gentrification is causing concern among many Puerto Ricans, who are increasingly vocal about how an economy reliant on tax breaks for the wealthy can benefit local residents struggling to afford property. Gloria Cuevas Viera, a Rincón resident fighting against gentrification, likened the situation to Hurricane Maria putting a 'For Sale' sign on the island. A large number of investors purchase residential properties and later sell them at increased prices or convert them into short-term vacation rentals, transforming whole neighborhoods into Airbnb hotspots and causing a lack of available housing for local residents. Forty-three percent of Puerto Ricans live below the federal poverty line. Israel Matos, aged 45, is being forced to relocate from his home in Rincón by March as the property was sold by the owner last year. Matos had the opportunity to purchase the house, but the option expired. The owner, who hails from Hermosa Beach, California, opted to sell to another buyer. Matos, a sound engineer for a television station, has been living in his home with his wife and two daughters for two years, but he is struggling to find a suitable listing in Rincón within his budget. Many Puerto Ricans are facing the same challenge as outside investors purchase properties and raise prices, making it difficult for them to afford staying in their homes. Matos expressed the pressure and difficulty of being a father in this situation, never imagining he would struggle to find a place to live with his daughters. Many Puerto Ricans are being forced out of their homes due to rising property prices caused by outside investors. Demonstrators in Old San Juan recently protested tax breaks given to wealthy individuals like Bitcoin billionaire Brock Pierce, who has converted a children's museum into a "crypto clubhouse." The tax breaks, known as Act 60, were initially enacted in 2012 as the island faced economic collapse and gained more attention after Hurricane Maria hit in 2017. In 2019, the tax incentives were revamped in order to attract investors in finance, technology, and other industries. Those who relocate to Puerto Rico can take advantage of reduced income taxes on various financial gains and services. A billboard in Silicon Valley promotes Puerto Rico as a tech center aligned with investors' goals. By October 2021, the island had received a record 1,349 applications from individuals seeking residency through investment, with 982 approvals. Since 2012, over 4,286 applications have been approved, with over 35% approved in the last three years. According to the law, an individual can be eligible for tax breaks if they have not been a resident of Puerto Rico for at least 10 years prior. In order to benefit from a 4% corporate tax rate and zero capital gains tax, the investor must also purchase a home. However, the more than 3 million current residents of Puerto Rico are not eligible for these tax breaks, leading to concerns about inequality in tax responsibilities. Heriberto Martínez Otero, the executive director of the Ways and Means Committee in the Puerto Rico House of Representatives, expressed these concerns. He also noted that renters who are being priced out of coastal areas may move to cheaper neighboring towns, but will likely spend more on commuting expenses such as gas and tolls. Martínez Otero, who is also an economics professor at the University of Puerto Rico, highlighted these issues. Homeowners who sell their properties are benefiting from the increase in property prices, according to Gov. Pedro R. Pierluisi, who expressed support for investors purchasing luxury homes. The passing of a tax law was partly motivated by the collapse of the luxury real estate market, with the intention of attracting individuals with capital to boost the real estate sector. Policymakers were also concerned about the significant number of people leaving the island due to the economic crisis and Hurricane Maria, leading to an 11.8% decline in Puerto Rico's population from 2010 to 2020, as reported by the census. Martínez Otero mentioned that the issue of people purchasing residential properties that do not align with consumption patterns in Puerto Rico is adding to the island's affordable housing problems. Many Puerto Ricans are finding it increasingly difficult to afford to stay in their homes due to outside investors purchasing properties and driving up prices. Sánchez, a homeowner in Rincón, who posed as a landscaper, is involved in coordinating the town's federal Section 8 program, which aims to provide affordable housing to low-income families. The program offers families $450 monthly vouchers for housing, but he is struggling to find homes at that price. An oceanside gathering spot in Rincón, Puerto Rico on January 13, 2022, has become unaffordable for many Puerto Ricans due to outside investors purchasing properties and increasing prices. In rural areas like the mountains, property prices are also rising, causing concern among locals about being displaced. Real estate broker Ingrid Badillo Carrero noted that home prices in Rincón have significantly increased over the past four years, with a two-bedroom condo that would have been listed at an average of $290,000 in 2017. Currently, the unit could now be priced around $420,000, with the average annual income in Rincón being about $19,900. Badillo, who often works with investor clients looking for tax breaks, has had locals accuse him of selling out their country. Many investors can pay in cash, which is more appealing to sellers compared to Puerto Ricans who may only be able to pay through a mortgage. In May, Elizabeth Stevenson relocated to Puerto Rico with her husband, Tyler McNatt, from Austin, Texas. They wanted to find a way to avoid going to the office every day, so they started exploring cryptocurrency investments as a source of income. Stevenson, a beneficiary of Act 60, is working as a consultant for a California movie producer now living in Puerto Rico, in addition to trading cryptocurrency. Stevenson mentioned that there is a lot to learn and a lot of money to be made in the cryptocurrency market. She recently signed a one-year lease for an apartment near the beach and is involved in various cryptocurrency groups for former mainlanders that regularly hold events in Rincón. Daniel Torgerson, a crypto investor who relocated to Puerto Rico in June, organizes a weekly happy hour at the Aqua Marina Beach Club in Rincón. In early January, approximately 20 individuals gathered near the bar and pool, chatting under string lights and trying to be heard over the nocturnal coquí frogs. Torgerson inquired about everyone's feelings about the market that week and if anyone had any new projects they were enthusiastic about. Someone mentioned solar bitcoin mining. The newcomers are also bringing their children with them. Myriam Pérez Cruz, the principal at Manuel González Melo K-8 School in Rincón, mentioned that the school has had to include additional coursework for students who are learning Spanish as a second language. In the school year 2016-17, a student survey found three native English speakers who required help with Spanish, Pérez mentioned. By the school year 2021-22, this number had increased to 17 students. Matos, a resident of Rincón who needs to vacate his home by March, drove around searching for potential rental signs. Later, he went to the beach, sat on the sand with his legs crossed, and attempted to unwind. However, shortly after parking his car, he began to feel uneasy. Matos observed that out of approximately 50 people on the beach, he only saw around five Puerto Ricans, indicating a significant change in Rincón.

Finance adviser AB Mirza Azizul Islam stated that if donor countries do not fulfill their ODA pledges, the millennium development goals will not be achieved. He also mentioned that official development assistance is crucial for the realization of these goals in many countries.

Global institutional investors with over $6 trillion in assets are urging policymakers to quickly come to a binding agreement to reduce greenhouse gas emissions and support clean technology. Over 130 major investors, including the London Pensions Fund Authority, are calling for countries to commit to cutting emissions by 50-80% by 2050, aligning with the goals of US President-elect Barack Obama. They are also advocating for long and medium term emission reduction targets for developed nations and a more robust global carbon market. US investors, like the California Public Employees' Retirement System, have been advocating for legislation to advance clean technologies. They have also urged the US Securities and Exchange Commission to require publicly traded companies to disclose climate-related risks as well as other factors that impact their business. Mike Taylor, chief executive of London Pensions Fund Authority, stated that as institutional investors, they are worried about the risks posed by climate change to the global economy and their diverse portfolios. He emphasized the need for strong policies to support investments in low carbon projects. The group of global investors is pushing for a new binding agreement to follow the Kyoto Protocol, which mandated industrialized countries to reduce greenhouse gas emissions. The European Union has set a goal to reduce greenhouse gas emissions by 20 percent and increase the use of renewable energy sources by 2020. The United States is the only major industrialized country that has not accepted the Kyoto Protocol, but is currently engaged in talks to create a new international agreement. Mindy Lubber, the president of Ceres, a coalition of investors and environmental organizations focused on climate change, believes it is important for the United States to be part of this agreement. A global group of investors is working to ensure their views are considered prior to a climate change convention in Poland in December.

During the election campaign on Monday, opposition leader Anthony Albanese failed to address questions about unemployment and interest rates, shifting focus to economic opportunities post-pandemic. Prime Minister Morrison criticized Labour's economic management and lack of plan while campaigning in Parramatta. Polls indicated Labour was leading but Morrison was preferred as the country's leader. Albanese apologized for his mistakes and tried to regain control of the situation. He quoted Taylor Swift's hit song by saying he will "Shake it off" in response to reporters questioning whether the mistake would impact the election. Albanese stated that he takes responsibility for his actions and will admit to any mistakes he makes. Morrison highlighted his government's success in lowering the unemployment rate to 4% despite facing numerous challenges such as fires, floods, a pandemic, a global recession, economic pressure from China, and a war in Europe. Initially, Albanese mentioned that he believed the current unemployment rate was around 5.4%. Morrison stated that they have achieved success in their plans, particularly in creating jobs to strengthen the economy, referencing cricket as he discussed Australia's economic progress. Treasurer Josh Frydenberg mentioned that the new jobs would be spread throughout various sectors of the economy. It is expected that Australia's unemployment rate will drop to the 3% range, earlier than expected, with some economists even predicting it could be lower than the budget forecast of 3.75%. While wage growth is anticipated to increase, it may not be enough to keep up with inflation, resulting in a decrease in real incomes for the year. In order to appease unhappy voters, the budget in March raised a tax break for 10 million low- and middle-income earners and provided one-time cash payments for pensioners, along with a temporary reduction in fuel taxes.

The G8 wealthy nations are interested in collaborating with the nearly 200 countries participating in UN climate change discussions to establish a target of reducing greenhouse gas emissions by at least 50% by the year 2050, according to a draft communique. This document, which was obtained by Reuters before being officially approved by Group of Eight leaders at a summit in northern Japan, also emphasized the need for interim objectives to reach the long-term goal. The statement highlights the importance of the UN-led negotiations to develop a new framework for addressing global warming after the Kyoto Protocol expires in 2012, while also glossing over disagreements within the G8. The UN discussions are slated to wrap up in Copenhagen in December 2009. The diplomatic language used in the climate statement, typically the most contentious part of summit talks, is unlikely to fully satisfy those advocating for more specific targets. Last year, the G8 group of wealthy nations, including Japan, Britain, Canada, Germany, France, Italy, Russia, and the United States, agreed to "seriously consider" the goal of cutting global emissions in half by mid-century. The European Union and Japan have been pushing for this year's summit to set clearer targets, but US President George W Bush has insisted that the US cannot commit to binding targets unless major polluters like China and India also reduce their emissions. The European Union's leadership praised the climate change agreement reached at the summit, calling it a "new, shared vision" that keeps negotiations on track for a global agreement in 2009. European Commission President Jose Manuel Barroso stated that the summit in Japan had met the EU's criteria for success. Global warming is connected to other significant issues such as rising food and fuel prices, which are being discussed at a three-day meeting on the northern Japanese island of Hokkaido. 21,000 police have been mobilized for the event. The leaders at the summit expressed concerns about the uncertainty and risks facing the world economy, including the impact of high oil prices. They also hinted at the need for China to allow its tightly controlled currency to appreciate in order to address global financial imbalances. Additionally, the group agreed to convene a world energy forum to bring together major oil producers and consumers to discuss output and prices. The surge in food and oil prices, reaching a record high of $145.85 a barrel last week, is having a severe impact on the world's impoverished population. A recent World Bank report predicted that as many as 105 million more individuals could fall below the poverty line due to the increase in food costs, including 30 million in Africa. World Bank President Robert Zoellick emphasized the importance of how the global community responds to this crisis, calling it a crucial test of the system's commitment to assisting the most vulnerable. In an effort to alleviate the situation, G8 officials announced plans to introduce various measures to aid Africa, particularly its farmers, and reaffirmed their pledge to double aid, providing an additional $50 billion by 2010, with half designated for the world's most impoverished continent. The summit concludes on Wednesday with a Major Economies Meeting that includes the G8 and eight other significant greenhouse gas-emitting countries, such as India, China, and Australia.

OPEC will support efforts to combat climate change and maintain stable oil prices after its heads of state meeting concludes on Sunday. Currently, only Saudi Arabia has promised to contribute $300 million towards environmental research. Other leaders have not made similar commitments, with Algerian Energy and Mines Minister Chakib Khelil stating that they are not committing to anything until they know the full proposal. It appears that no other countries within OPEC have pledged financial support at this time. OPEC Secretary-General Abdullah al-Badri stated this week that OPEC would be willing to contribute to the development of carbon capture and storage technology in order to help decrease emissions. A draft final communique, as read by an OPEC delegate over the phone, mentioned that the group shares the international community's concern about the long-term challenge of climate change and aims for stability in global energy markets, without mentioning an environmental fund. Venezuelan President Hugo Chavez anticipated that the summit would reaffirm a commitment to stable and competitive oil prices. He cautioned that if the United States were to attack Iran or Venezuela, oil prices could potentially double from the current $100 per barrel to $200 on the global market. Chavez conveyed this message to fellow heads of state, including Iranian President Mahmoud Ahmadinejad, at the summit in Riyadh, Saudi Arabia. Concerns about a potential attack on Iran by the United States or Israel, due to suspicions of covert nuclear weapon development, have contributed to the increase in world oil prices. Despite calls for OPEC to increase crude supply to stabilize prices, a decision on this matter will be postponed until a meeting in Abu Dhabi on Dec. 5. Iran and Venezuela are reluctant to raise output, while Saudi Arabia has been more willing to comply with Western requests to lower prices. Ecuador's President, Rafael Correa, suggested at the conference that oil should be priced in a currency other than the dollar. The decline in the value of the U.S. currency compared to other major currencies has contributed to the rise in oil prices to $98.62 last week, while also diminishing the purchasing power of the Organization of the Petroleum Exporting Countries. During the summit, Saudi Arabia led the group in rejecting a proposal by Iran and Venezuela to address concerns about the weakening dollar in the summit's official statement. Analysts believe that Saudi King Abdullah, a key U.S. ally and influential figure within OPEC, is eager to prevent leaders like Chavez and Ahmadinejad from overshadowing the summit with their anti-U.S. rhetoric. Despite Chavez's lengthy speech advocating for OPEC to combat global poverty, King Abdullah remained unimpressed and even joked with the Venezuelan president afterwards. The summit took place in a lavish hall adorned with crystal chandeliers and gold leaf decorations, as Chavez emphasized the importance of OPEC taking a leading role in fighting poverty worldwide. Ahmadinejad called for OPEC to take a more active role in geopolitics and to demand greater respect for their countries, while also urging powerful nations to stop threatening the organization. He stated that he would share his opinions on the matter at the end of the summit. In an attempt to ease tensions between the United States and Iran, Saudi Arabia proposed establishing a consortium to supply Iran with enriched uranium for peaceful purposes. Despite this offer, Iran has asserted that it will not cease its own enrichment activities. Concerned about Iran's potential nuclear capabilities, Gulf Arab countries, including OPEC members Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates, have announced plans to launch their own nuclear energy programs.

The finance minister, AMA Muhith, criticized donors for not fulfilling their aid pledges, attributing this failure to the country's ongoing struggle with poverty and other challenges. Muhith made these comments during the launch of a report on Bangladesh's progress towards achieving the Millennium Development Goals at Sonargaon hotel in Dhaka. He emphasized the importance of donor agencies fulfilling their pledges in order to reach the MDGs, which include reducing extreme poverty by half by 2015. Despite some progress on certain issues, the minister acknowledged that there are still obstacles to achieving the MDGs. He stated that the issue of malnourished children continues to be a significant concern. Muhith acknowledged that while progress has been made in solving sanitation issues, the problem of arsenic contamination still remains unresolved. In terms of economic growth, he noted that the country is performing well but lags behind neighboring nations. During the event, Planning minister AK Khandker and foreign minister Dipu Moni also shared their thoughts. Khandker emphasized the need for increased international assistance to combat the impacts of climate change in Bangladesh. Moni stated that natural disasters caused by climate change are hindering the country's development. She mentioned advancements in poverty reduction, women empowerment, primary education, and child mortality. Shamsul Alam, a member of the Planning Commission, presented the progress report.

In his concluding statements at the ninth consecutive Global Media Forum, DW Director General Peter Limbourg emphasized the importance of European values. He highlighted that discussing these values with others provides a valuable reflection on what Germany and Europe hold dear, but acknowledged that there are instances where these values are not upheld, such as in the sale of arms, environmental pollution, and partnerships with corrupt regimes. Limbourg stressed the need for Germany and Europe to practice what they preach before advocating for these values to others. Over 2,000 participants from 110 countries gathered in the former West German capital for the three-day event. The conference focused on the theme of "Media. Freedom. Values." and discussed challenging issues that journalists encounter in various countries worldwide. The importance of the media, freedom of speech, and the preservation of values were all topics of consideration. German President Joachim Gauck delivered an inspiring message to conference participants, emphasizing the shared responsibility of journalists worldwide. He highlighted the abundance of information available today, but also the growing potential for manipulation and disinformation. Gauck stressed the importance of upholding reliable journalism to combat this issue. A notable moment at the Global Media Forum was when Sedat Ergin, editor-in-chief of Hürriyet, received the Deutsche Welle Freedom of Speech Award. Upon receiving the award, Ergin expressed concern about the increasing challenges to freedom of expression in various countries, including democracies. Diekmann emphasized the importance of press freedom and criticized the state of freedom of the press in Turkey. Some Turkish media outlets linked to the ruling party reacted strongly, highlighting the pressure on journalists in Turkey. The GMF also discussed the vital role of bloggers and activists in societies lacking true freedom of speech. Egyptian comedian Bassem Youssef visited Bonn to participate in the award ceremony for The Bobs, which are awards presented by Deutsche Welle to recognize the top international online activists and their efforts. German Commissioner for Human Rights Policy Bärbel Kofler was part of a panel discussion with bloggers from Bangladesh who have sought asylum in Germany and other European countries after being targeted by Islamist extremists and receiving no support from their government. The forum aimed to shed light on the plight of journalists facing danger in their home countries and the need for asylum. Journalist and author Martin Walker provided a somber assessment of the future of media. International speakers across multiple panels at the conference emphasized that the media are at a critical juncture. The increasing emphasis on direct communication with people globally via social media is creating new possibilities for journalism. DW's Director General Limbourg stated that this presents a chance for the media to make a real impact.

Chief adviser Fakhruddin Ahmed emphasized the importance of industrialized nations providing climate adaptation funds to developing countries, which are the most affected by climate change, without any conditions. He also urged wealthier nations to transfer advanced technology to help developing countries improve their climate resilience. Fakhruddin stated that industrialized economies should offer adaptation funds and support technology transfer unconditionally. He further mentioned that developed nations, as the main polluters, have a vital responsibility to reduce greenhouse gas emissions within specified time frames. The SAARC Ministerial Meeting on Climate Change was initiated in Dhaka following a proposal by the city, as there are concerns about a significant portion of Bangladesh's land being submerged due to rising sea levels caused by global warming. The meeting is anticipated to approve a shared declaration on taking action to address climate change, which will impact the entire SAARC region including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The Maldives island chain is also at risk of being submerged due to rising sea levels. Fakhruddin emphasized the importance of SAARC countries uniting to urge developed nations to provide new resources to support their adaptation efforts. He also mentioned that Bangladesh is working towards establishing an international climate adaptation center to exchange knowledge and best practices. It is crucial for developed countries to make a unilateral and unconditional commitment to reducing their emissions. He emphasized the importance of taking action to combat climate change in order to protect ourselves from its dangers. Fakhruddin warned that climate change could have devastating consequences for millions of poor people, leading to floods, droughts, and salinity. He compared the potential impact of climate change to past tragedies like the Black Death and World War II. Fakhruddin urged against inaction, stating that we must act to prevent this catastrophe. SAARC Secretary-General Sheel Kant Sharma also stressed the need for developed countries to make binding commitments to reduce greenhouse gas emissions within specific timeframes. The inauguration was overseen by Devasish Roy, the special assistant for environment to the chief adviser, and also featured remarks from Iftekhar Ahmed Chowdhury, the foreign adviser.

Coach Jorge Luis Pinto reassured that Colombia will not be defeated despite their 5-0 loss to Paraguay in the Copa America. Pinto emphasized that this setback is not a catastrophe, as it does not compare to uncontrollable events like natural disasters. He stated that Colombia has not been completely defeated in terms of footballing ability, tactics, or morale. Pinto emphasized that despite the loss, life goes on and the team will continue to work towards success. "We have not been defeated yet, we will respond." In their first Group C game on Thursday, Colombia controlled the game early on but missed a penalty in the 28th minute. Paraguay then took the lead two minutes later and Colombia struggled in the second half. Surprisingly, Colombia's defense had been solid leading up to the tournament, only allowing two goals in six games. Their next game is against Argentina on Monday, the favorites who started with a 4-1 win over the United States. Pinto stated that changes will be made, including variations in playing style and player selection. He also drew a comparison between the upcoming match and Colombia's victory over Argentina in a World Cup qualifier in 1993, noting similarities in the level of performance between the two games.

A major global report launched on Tuesday urges wealthy nations to lead the way in reducing carbon emissions to avoid negative impacts on health, education, and poverty reduction for the world's poor. The UN Human Development Report (HDR) 2007-08, titled "Fighting climate change: Human solidarity in a divided world," also calls on developed countries to offer incentives to developing nations to address the challenge of climate change. The report, prepared by the United Nations Development Programme (UNDP) based on the Intergovernmental Panel on Climate Change Synthesis Report, highlights the urgency of taking action within the next ten years, as discussed in upcoming climate change negotiations in Bali, Indonesia. The report warns that if action is not taken soon, temperatures could rise above two degrees Celsius, leading to the disappearance of Himalayan glaciers that are crucial sources of water and food for more than two billion people. The lead author of the report, Kevin Watkins, stated that the carbon budget of the 21st century is being overspent and could run out by 2032. He emphasized that the poor, who have the smallest carbon footprint and the least resources to protect themselves, will be the first to suffer from the effects of climate change caused by developed countries' high levels of energy consumption. The report calls on the wealthiest nations to take responsibility by reducing emissions by 80 percent by 2050 and investing $86 billion annually in international adaptation efforts to help vulnerable populations. The report suggests that developed countries should implement a new system to transfer clean energy technology to developing countries. It mentions that investing in this initiative can protect assets during flooding and argues that developing countries, especially rapidly growing nations like China and India, should also reduce emissions by 20 percent by 2050. The UNDP administrator emphasizes the importance of expanding access to affordable energy while reducing carbon emissions, and stresses the need for international cooperation to achieve climate and energy security. The report also proposes the creation of a Climate Change Mitigation Facility, funded by developed countries, to encourage developing nations to pursue sustainable development. Watkins emphasizes that rich countries must provide proper financing for technology transfer to poorer countries as a requirement for addressing their carbon footprint. The pathway for the Bali conference on 'Fighting climate change' outlines a detailed checklist for world leaders, urging a binding post-2012 multilateral agreement to combat climate change and protect vulnerable populations. This includes reducing emissions from developing countries by 20% by 2050 and from developed countries by 30% by 2020 and at least 80% by 2050 compared to 1990 levels. Additionally, it calls for the establishment of a Climate Change Mitigation Facility to fund low-carbon energy investments in developing countries, enabling them to transition to cleaner energy sources and commit to international emission reduction targets. This would require an annual investment of $25-50 billion. Additionally, setting a fair price on carbon can be achieved through a mix of carbon taxation and a widespread implementation of cap-and-trade programs globally. Furthermore, enhancing regulatory standards involves implementing and enforcing stricter efficiency guidelines for vehicle, building, and electrical appliance emissions. Encourage the growth of low carbon energy sources, acknowledging the untapped potential for expanding the use of renewable energy and the necessity of investing in innovative technologies like carbon capture and storage (CCS). Dedicate $86 billion, equivalent to 0.2 percent of the combined GDP of northern countries, to developing climate-resilient infrastructure and enhancing the ability of disadvantaged communities to withstand the impacts of climate change. Incorporate adaptation into all strategies aimed at reducing poverty and extreme inequality, including poverty reduction strategy papers. Acknowledge the importance of carbon sequestration in forests and land in future global agreements, and support international financial transfer plans for deforestation, as proposed by Brazil and other countries.

South Korea, the fourth largest economy in Asia, has committed to selecting one of three targets for carbon emissions by 2020, joining Kyoto signatories in the effort to combat climate change. The government announced that it will decide on a 2020 gas emission target this year, with options including an 8 percent increase from 2005 levels, remaining unchanged from 2005, or a 4 percent reduction below 2005 levels. South Korea is a wealthy nation and a major industrial player in Asia. Emissions in the country doubled from 1990 to 2005, with per-capita emissions of carbon dioxide in 2005 at 11.1 tonnes, putting it on par with some European countries and ranking as the 17th largest among OECD members. Sang-hyup Kim, Secretary to the President for National Future and Vision at the Presidential Office, noted that the targets may seem modest in comparison to those set by developed countries. However, these efforts are of the highest sincerity and demonstrate Korea's capabilities. The government has estimated that each target will require between 0.3 and 0.5 percent of GDP, and will involve the increased use of hybrid cars, renewable and nuclear energy consumption, energy efficiency through the use of light-emitting diodes and smart grids. Developed nations, who are obligated by the Kyoto Protocol to reduce greenhouse gas emissions, are facing pressure from developing countries to increase their emission reduction targets as part of a larger climate agreement being negotiated. These discussions will reach a conclusion at the end of the year during a major UN meeting in Copenhagen, Denmark. Wealthy developing countries like South Korea, Singapore, and Mexico are also facing demands to announce their plans for reducing emissions. South Korea's goals for reducing emissions are not as ambitious as those of countries like the United States and the European Union. Japan and the United States are targeting reductions of 15 and 17 percent, respectively, by 2020 compared to 2005 levels. The European Union and Britain are aiming for even greater reductions of 20 and 34 percent by 2020, compared to 1990 levels. China and other developing nations are calling for developed nations to cut greenhouse gas emissions by at least 40 percent by 2020 to prevent severe consequences of global warming like droughts, floods, and rising sea levels.

A senior negotiator informed Reuters that China is willing to include its voluntary carbon emissions target in a binding UN resolution, which could potentially put pressure on developed countries to extend the Kyoto Protocol. The success of UN climate talks in Mexico's Cancun beach resort relies on reaching an agreement on solidifying national emissions targets beyond 2012 when the current round of Kyoto carbon caps expire. China's willingness to compromise is contingent on the United States agreeing to enforceable emissions reductions and an extension of the Kyoto Protocol, which currently applies to nearly 40 developed countries excluding the US. Developing countries are in favor of continuing the protocol, while industrialized supporters such as Japan, Russia, and Canada prefer a separate agreement that encompasses all nations. China had previously rejected the idea of making its domestic emissions goals legally binding, unlike industrialized nations. Huang Huikang, the Chinese Foreign Ministry's representative for climate change discussions, stated that a resolution could be crafted which would be enforceable on China. He mentioned the possibility of a legally binding decision under the UN Climate Convention and expressed willingness to consider different forms for this. He emphasized the importance of China's efforts being integrated into global initiatives and suggested that addressing concerns did not require scrapping the Kyoto Protocol and beginning anew. Jennifer Morgan from the World Resources Institute in Washington described the proposal as a significant development, calling it a "gamechanger." Alden Meyer of the Union of Concerned Scientists also expressed optimism, stating that while the details are important, this is a promising step forward. China's chief negotiator Xie Zhenhua later explained that China's targets could be aligned with the Convention, allowing developing countries to voluntarily commit to emission reductions using their own resources. Huang stated that China would not change its stance on insisting that new emissions targets be included in an extended Kyoto agreement. China has always maintained that its efforts to reduce emissions are only binding domestically and cannot be included in international agreements. Huang acknowledged that China is now willing to be fully part of the international effort and sees this as a compromise. However, he emphasized that when it comes to the Kyoto agreement, there is no room for compromise. Developing countries, such as China, the largest carbon emitter globally, made a commitment at a summit in Copenhagen to voluntarily take action to limit the growth of their emissions. China specifically vowed to decrease its "carbon intensity," which is the quantity of carbon dioxide released for each unit of economic growth. The goal is to lower this intensity by 40-45 percent by the year 2020 compared to levels in 2005. Huang suggested that this intensity target could be included in a resolution.

UN Secretary-General Ban Ki-moon expressed his disappointment with the progress on climate change made by the G8 leaders, stating that their commitments were not sufficient. He emphasized the importance of taking immediate action to combat climate change for the future of humanity and the planet. Despite the G8's agreement to cut emissions by 80% by 2050, Ban stressed the need for more substantial reductions sooner. President Barack Obama also acknowledged the need to bridge the gap with developing countries on climate change, following Ban's criticism of the G8's efforts. During the first day of a meeting of the G8 in L'Aquila, Italy, China and India did not agree to the goal of cutting greenhouse gas emissions in half by 2050. Obama, aiming to leave his mark on his first G8 summit by leading a meeting on the environment, expressed optimism that progress could still be made before the UN climate change talks in Copenhagen in December. Despite challenges, Obama was set to chair the Major Economies Forum (MEF) and work towards limiting global warming to 2 degrees Celsius, although specific emission cuts were not agreed upon. The absence of Chinese President Hu Jintao, who left to address clashes in China, hindered progress. Temperatures have increased by 0.7 degrees Celsius since the Industrial Revolution due to the widespread use of fossil fuels. British Prime Minister Gordon Brown expressed hope that all countries present at the meeting, including the United States, Japan, Germany, France, Britain, Italy, Canada, Russia, China, India, Brazil, South Africa, Indonesia, and Mexico, would agree on temperature targets. However, a G8 source mentioned that reaching a deal on emissions was not realistic. India emphasized that developing countries were looking to see plans from wealthier nations to provide financial assistance for dealing with the effects of climate change, such as floods, heatwaves, storms, and rising sea levels. Additionally, they are calling for richer nations to make more significant emissions cuts by 2020. The G8 countries reached an agreement to reduce global emissions by 50 percent by 2050, with the United States agreeing to this goal for the first time. They also established a target of an 80 percent reduction for developed countries collectively. However, Russia stated it would not be able to achieve this by 2050 and Canada's Environment Minister Jim Prentice referred to the 80 percent goal as an "aspirational goal." The summit also focused on the state of the world economy, with rich nations acknowledging significant risks to financial stability. China, along with Russia, India, and Brazil, used the second day of the summit to advocate for diversification of the global reserve currency system away from reliance on the dollar. State Councilor Dai Bingguo suggested the need for a more efficient system for issuing and regulating reserve currencies to ensure stability in exchange rates and promote a diverse international reserve currency regime. The G8 and G5 expressed hope for progress in the stalled Doha trade talks, aiming to conclude them by 2010. The Doha round, initiated in 2001 to aid developing countries, has faced challenges due to proposed tariff and subsidy reductions. The G5 pledged to address issues hindering the Doha talks, which would boost confidence in global markets, and called on wealthy nations to eliminate trade barriers and provide financial support to poorer countries.

When a group of 96 individuals from China arrived at Taoyuan International Airport near Taipei, they realized they had fallen victim to a scam after paying significant amounts of money to participate in a music competition promising lucrative prizes. The con artist had deceived them with fake invitations from the city of Taipei, collected their entry fees, and abandoned them at the airport in mid-February. Some of the musicians were so upset that they refused to return home. Experts on crime predict that such fraudulent activities will escalate in Asia, especially in greater China, as the economic downturn prompts scammers to target those who are struggling and seeking a change in their fortunes. "We see an increasing number of victims due to the economic crisis," explained Chu Yiu-kong, a criminologist at Hong Kong University. Chinese individuals have a strong affinity for money, making them susceptible to financial traps. Additionally, they place great value on fortunate opportunities, particularly during challenging periods. As trade-dependent Asian nations struggle amidst a worldwide economic downturn, countries like Singapore, Hong Kong, Japan, and Taiwan are experiencing recessions. In response, many businesses in the region are reducing production, halting hiring processes, and letting go of employees to cut costs. Experts in criminology suggest that scam artists tend to flourish in such dire economic conditions. According to the police, scams that are expected to rise include job search fraud, fake money lending, and convincing people to pay large fees for fake lottery prizes or business opportunities. A recent popular scam involves tricking desperate job seekers in Taiwan, Hong Kong, and China by pretending to be recruiters and asking for money to invest in the companies they are applying to. The companies and the money disappear by the time the job seekers try to follow up on their applications. As a result, people like Zhou Yang from Shenzhen, China, are wary of roadside job agencies as they are often deceived. According to local media reports, a scam artist in southern China managed to make 800,000 yuan ($117,000) last year by sending text messages from a mobile phone using a common Chinese name, claiming repayment of a debt. The victims, mostly individuals who already owed money to various people, fell for the trick and believed they were being pressured to pay back the debt. These types of scams only add to the hardships faced by those struggling financially. Chang Chin-lan, a prevention officer with Taiwan's Criminal Investigation Bureau, expressed concern that as deception crimes continue to rise - increasing by a third in Taiwan from 31,000 in 2007 to 41,000 in 2008 according to police statistics - people may become desperate and morals may decline. In the fourth quarter of 2008, Hong Kong police saw a significant increase in deception crimes, with cases rising from 1,071 to 1,414. Similarly, in Singapore, there has been a 10 percent increase in "cheating and related offences" from 2,917 cases in 2006 to 3,254 cases last year. The Singapore Police Force has warned of an expected rise in phone scams and other impersonation frauds due to the economic downturn. Advanced technology has also played a role in the growth of scams, allowing perpetrators to reach a wider audience and deceive people across borders. Costly hoaxes have become more common in Asia since 2001, with the emergence of the Internet and mobile phones providing anonymity and protection from the law in multiple countries. Tsai Tien-mu, a criminology professor at Taipei Police College, highlighted the role of technology in facilitating these scams. Tsai mentioned that it is now simple for people to communicate with each other, whereas previously the perpetrator had to physically encounter the victim. Due to the ease with which con artists can conceal themselves, law enforcement faces difficulties in solving fraud cases. In Taiwan, only 10 percent of cases are resolved by police officers. On the other hand, in Hong Kong, law enforcement is more focused on educating the public rather than pursuing individual con artists, according to Chu from Hong Kong University. Frequently, the scammers can be found in China, which makes it difficult for law enforcement in Hong Kong to apprehend them. According to Zhou, a job seeker from Shenzhen, the police in mainland China are not very helpful to those who have been deceived. Zhou mentioned that even if you are a victim of fraud, contacting the police is not effective as they rarely respond and provide assistance.

The top climate change official at the UN urged the European Union to quickly devise strategies to assist developing nations in combating global warming in order to avoid a potential deadlock that could hinder global action. Yvo de Boer emphasized the urgency of this issue for all industrialized countries and stressed the need for increased support to help poorer nations reduce their greenhouse gas emissions. The agreement reached in Bali in December highlighted the necessity for a tangible increase in resources to address climate change effectively. This would encourage developing countries to shift their economies away from fossil fuels towards cleaner energy sources, with commitment from countries like China and India being crucial for wealthier nations, such as the United States, to take action on reducing emissions. The United States is currently not part of the Kyoto agreement, which complicates the situation further. This lack of engagement from developing countries makes it challenging for wealthier nations to progress in their efforts to combat climate change. The Climate Secretariat in Bonn is working on addressing the impact of climate change, such as heatwaves and floods. The EU is committed to leading the fight against climate change, as predicted by the U.N. Climate Panel to bring more extreme weather events in the future. One proposed solution for funding includes auctioning carbon emission rights in the EU and using the proceeds to support developing nations. Another option is to increase a levy on a Kyoto project that allows wealthy nations to invest in reducing greenhouse gas emissions in developing countries. De Boer emphasized the importance of EU budgets for research and development in addressing climate change, stating that without resources for developing countries, it will be difficult to engage them. He also called on French President Nicolas Sarkozy to finalize an EU package of climate measures during the French EU presidency in the second half of 2008. The EU Commission has proposed cutting greenhouse gas emissions by 20 percent below 1990 levels by 2020, increasing the use of renewable energy in power production to 20 percent, and utilizing 10 percent of biofuels in transport by 2020. De Boer stressed the need for the package to be completed under the French presidency so it can be presented to the European Parliament. France and Germany expressed concerns last week that the plan could put European jobs at risk. De Boer emphasized that the European Union must now fulfill its commitments by distributing the responsibilities. It is crucial for the EU's credibility on the international stage to provide clear signals on how the target will be met. To read more environmental blogs from Reuters, click on the link.

Speakers at a conference at the London School of Economics warned about the significant environmental, ecological, social, and economic impacts of India's planned unilateral construction of the Tipaimukh Dam on the people of Bangladesh and northeastern India. The Voice for Justice World Forum in London called on the governments of Bangladesh and India to conduct a joint feasibility study before proceeding with the dam construction to find a fair and equitable solution to the potential environmental disaster. It was emphasized that India, as an upper riparian country, has a moral and legal obligation to consult with Bangladesh before building such a dam. The conference was chaired by Dr. Hasanat Hussain MBE, the Convenor of the World Forum of the Voice For Justice organization, and was commended by British treasury minister Stephen Timms for holding its world forum in London. He informed the conference that the British government will always support the oppressed worldwide and collaborate with organizations like VFJ to advocate for human rights and justice for the underprivileged. This event marked the first global gathering of VFJ, organized at the London School of Economics by a coalition of its European, US, Canadian, and Asian branches. Attendees included Bangladeshi academics, experts, VFJ members, and a diverse group from the British-Bangladeshi community in the UK. Abdul Moyeen Khan, former planning and science minister, and Sabih Uddin, former Bangladesh high commissioner to the UK, joined the discussion remotely. Concerns were raised about the potential construction of barriers on the rivers Surma and Kushiara, which could lead to a humanitarian crisis for millions of people reliant on these rivers. Dr K M A Malik from the University of Cardiff presented a paper on Climate Change in South Asia focusing on Bangladesh at the conference. Additionally, two separate papers were discussed on 'Rights of Migrant Workers in Gulf States' and 'Women's rights in Islam' by Dr Mahbub Khan from California State University and Hasan Mahmud, the director of Sharia Law of Muslim Canadian Congress, respectively. The speakers emphasized the importance of formal bilateral agreements between migrant-sending states like Bangladesh and migrant-receiving states in the Gulf to address the widespread allegations of human rights violations and dignity of migrant workers. The conference urged the governments of migrant-receiving countries to prioritize the human rights of migrant workers who significantly contribute to their economies and send remittances back to their home countries, despite receiving minimal wages, poor working conditions, and job insecurity. Hasan Mahmud's paper reaffirmed that Islam and authentic Sharia laws promote and protect women's rights in a fair and just manner. The misinterpretation and distortion of laws over time, influenced by social and cultural biases, have resulted in discriminatory treatment of women in many societies. Professor Anthony Booth from Christchurch University, Kent, UK, Prof. Shamsul Islam Choudhury from Roosevelt University, US, Dr. Abdur Rahman and Dr. Zakia Rahman from Limmeric University, Ireland, Dr. Stephanie Eaton from Kingston University, UK, Luthfur Rahman Choudhury, and joint convenors of the World Forum of Voice For Justice from various cities in the UK participated in the question and answer sessions at the end.

Sayed Talat Kamal reports from Durban, South Africa that developing countries are expressing concerns that they are taking climate change more seriously than wealthy nations. The US, in particular, is criticized for not prioritizing key issues related to climate change. Delegates at the UN Climate Summit in Durban, as well as European representatives and the leader of the African bloc, have criticized the US stance. Mali delegate Seyni Nafo stated that developed countries are not treating climate change as a serious global issue, despite their leadership in other areas such as democracy, human rights, and market access. Nafo emphasized the need for the US to show leadership in addressing climate change. The EU's chief negotiator, Arthur Runge-Metzger, expressed concerns about the US delegation being hindered by the current US domestic situation, where climate change is seen as an unpopular issue. He noted that the Obama administration faces challenges in advancing climate change initiatives due to opposition in Congress. The US is seen as delaying negotiations by seeking conditions in the agreement that would legally require all countries to reduce their greenhouse gas emissions. This has stalled discussions on how to raise the US$100 billion designated for helping poor countries transition to low-carbon economies and address the impacts of global warming. Climate change is caused by greenhouse gases trapping heat in the earth's atmosphere, resulting in higher global temperatures and leading to extreme weather events such as cyclones, floods, rising sea levels, droughts, erosion, and increased salinity. It is widely understood that a temperature increase of over 2 degrees Celsius would bring about irreversible climate change. According to global studies supported by the UN and the scientific community, in order to limit the temperature increase to 1.5 degrees, global emissions need to be reduced to 40 percent of 1990 levels by 2020 and to 95 percent by 2050. It is also crucial that emissions do not peak after 2015. While the US does not support binding targets, it prefers voluntary commitments from countries to reduce emissions. The US has pledged to reduce emissions by 17 percent from 2005 levels by 2020, a commitment that is unlikely to change in the near future according to Jonathan Pershing, the US delegation chief. Runge-Metzger argues that even if all countries fulfill their voluntary pledges, it would only amount to about half of the emissions reduction needed to prevent a potential climate catastrophe. In a strong statement, Rene Orellana, leader of the Bolivian delegation, has firmly rejected the Reducing Emissions from Deforestation and Forest Degradation (Redd) initiative, emphasizing that Bolivia does not view forests as mere carbon stocks. Orellana highlighted the importance of forests for food security, water resources, and biodiversity for the indigenous population, stating that forests play a much larger role than just offsetting emissions through carbon credits. Redd stated that the forest's function is often simplified to just carbon stocks. Orellana criticized certain aspects of the Green Climate Fund, particularly the payment system based on results of eco-friendly projects. Despite recent political unrest in Bolivia, the country has remained steadfast in its environmental stance at the 17th conference of parties to the UN climate change convention. This year, Bolivia passed groundbreaking legislation granting nature the same rights as humans. Scientists warn that heat waves, which currently occur every 20 years, could become an annual occurrence due to rising greenhouse gases in the atmosphere. Additionally, global warming posed a threat of inundation to coastal areas and islands, putting up to 250 million more people at risk of water scarcity within the next ten years. Advocates for climate action contend that stabilizing carbon concentration in the atmosphere would only slightly impede economic growth by 0.12 percent annually. However, they argue that the benefits of improved health, enhanced energy security, and more reliable food supplies would outweigh these costs.

The state minister for the environment has criticized developed countries for their deceptive behavior when it comes to climate funds. Hasan Mahmud, speaking at a discussion on the upcoming climate summit, accused rich nations of making false promises and not following through on commitments to reduce carbon emissions. He pointed out that only a small percentage of the $30 billion pledged at the Copenhagen conference in 2009 had been paid out by 2011, despite the funds being designated for countries most affected by climate change. He pointed out that there is a deception involved, as the money claimed to have been given in 2008 is actually being counted as Fast Start Funding. The roundtable took place before an upcoming climate change conference in Durban, South Africa starting on Nov 28. The state minister mentioned that Bangladesh had suggested a central authority to allocate the funds during the conference. He also stated that it is important for funds to be allocated based on need rather than on the basis of countries having better relationships with donors. He mentioned that developed countries have not made significant progress in reducing carbon emissions and are therefore responsible for global warming. Hasan also pointed out that a person in Bangladesh emits 0.3 tonnes of carbon annually. The amount is 1.6 tonne in developing nations and 15-20 tonne in developed countries. He also mentioned optimism for the Climate Vulnerable Forum happening on Sunday, which will include United Nations secretary-general Ban Ki-moon and prime minister Sheikh Hasina. The roundtable was led by Palli Karma-Sahayak Foundation chairman Qazi Kholiquzzaman.

According to bdnews24.com's environment correspondent Maruf Mallick, Bangladesh's state minister for environment expressed dissatisfaction with the EU's climate fund commitment in Copenhagen. The EU pledged 10 billion euro over three years to the climate adaptation fund, but Minister Hasan Mahmud questioned whether this was in addition to Official Development Assistance (ODA). Mahmud emphasized the importance of Annex 1 countries contributing 1.5 percent of GDP to the adaptation fund, which could potentially create a $400 to $600 billion fund. The state minister emphasized that the EU's proposal to raise funds for adaptation is insufficient to reach the total $400-600 goal. He stated that poor and vulnerable nations are steadfast in their demand for a separate climate fund, in addition to existing ODA, that is not controlled by financial institutions like the IMF and World Bank. He suggested the creation of a new institution that is easily accessible and transparent. Hasan emphasized that 70% of funds should go to least developed or vulnerable countries, with 15% specifically allocated to Bangladesh. He noted that over one billion people worldwide are vulnerable to climate change. Hasan mentioned that Bangladesh has initiated the formation of a new group for the most vulnerable countries, having already reached out to potential members. He stated that approximately 20 countries could be included in this new group. He mentioned that the UN recognises G-77 or LDCs in terms of economic development. He stated that they are aiming to achieve similar recognition for climate change. He emphasized the need to create a new group of vulnerable countries for improved negotiation. Hasan highlighted that Bangladesh is the most vulnerable country according to the Global Climate Risk Index, with 15% of the 1 billion most vulnerable people residing there. Fifteen percent of the adaptation fund is required to be allocated to Bangladesh, as it is greatly impacted by various aspects of climate change such as sea level rise and extreme weather. The country has a higher number of affected people compared to small island nations. A delegation from Dhaka held a discussion at the conference focusing on Bangladesh's status as a victim of climate change. Dr. Ainun Nishat, a climate expert, focused on how climate change affects food and agricultural production, water management, health, and infrastructure.

Reinhart, who was promoted to a higher position within the bank in an effort to restore its credibility following ethics concerns, stated that certain key aspects of the new product had already been identified. These included a focus on greater transparency regarding the methodology used, an increased reliance on survey data from companies, and a reduced emphasis on ranking countries. Reinhart emphasized that all details of the product would be made public in order to enhance credibility. Additionally, the bank would place more importance on survey data to minimize subjective judgment and eliminate the competitive aspect of rankings that encouraged countries to manipulate the system. In September, the bank decided to stop releasing the annual "Doing Business" rankings due to concerns about data irregularities in the 2018 and 2020 editions. It was alleged that senior bank officials, including former CEO Kristalina Georgieva, who now leads the IMF, pressured staff to alter the data. A law firm is currently investigating potential staff misconduct related to these changes, which favored certain countries like China and Saudi Arabia. The IMF board supported Georgieva after examining the accusations, but she could still be implicated in the ongoing investigation. According to Reinhart, this situation has damaged the World Bank's credibility, and it will take time and effort to regain trust. She emphasized the importance of credibility being based on systems rather than personalities and mentioned that the bank has implemented numerous safeguards following external reviews in the past year. She stated that while nothing in life is completely guaranteed, measures can be put in place to reduce the potential for misuse and abuse. She hopes that credibility will ultimately be established, as credibility is hard to build and easy to lose. Reinhart initiated a thorough review of the Doing Business methodology by an external advisory panel in response to concerns about internal data manipulation in the reports. The scathing 84-page review that resulted called for various remedial actions and reforms, pointing out a pattern of government interference with scoring. It criticized the bank for lack of transparency regarding data and suggested it should cease selling consulting services to governments to improve their scores. This practice had already been stopped in 2020 and 2021, according to Reinhart. She mentioned that the bank would assess the wider implications of the scandal and determine necessary steps after the completion of the second WilmerHale report. Reinhart stated that they would address this issue once they had the full report available.

Two British ministers arrived in Dhaka on Monday and stated that the UK will assist Bangladesh in protecting the interests of the least developed countries (LDCs) during the important Copenhagen climate negotiations in December. The assurance was given by Douglas Alexander, UK minister for international development, and Ed Milliband, responsible for energy and climate change, one day before prime minister Sheikh Hasina's trip to Geneva for the World Climate Conference-3. Alexander mentioned that they would discuss how the UK can support Bangladesh in representing the LDCs at the Copenhagen summit. The ministers also met with Hasina to talk about climate change and development cooperation between the two countries. Bangladesh holds the chair of the 50-member LDC Group, which includes countries most vulnerable to the adverse effects of climate change caused by emissions from developed nations. Wealthy nations, including the UK, are seeking to form a partnership with Less Developed Countries (LDCs) in order to urge economic powerhouses China and India to also commit to reducing their greenhouse gas emissions. A new international legal agreement to decrease carbon emissions will be discussed at the upcoming UN meeting in Copenhagen, replacing the current Kyoto Protocol which only held developed countries accountable for emission reductions. The Bali climate talks in 2007 acknowledged the need for major emerging economies to reduce emissions. The alliance between LDCs and developed nations will increase pressure on China and India, who are now considered significant greenhouse gas emitters. "Bangladesh, being highly susceptible to climate change, provides valuable lessons and inspiration to other countries through its adaptation and risk reduction efforts," said Ed Milliband. He also stated that the UK is dedicated to assisting Bangladesh in facing these challenges. On Monday evening, the visiting ministers had dinner with foreign minister Dipu Moni at the state guest house Padma. The UK government's International Climate Champions Initiative in Bangladesh, launched by Alexander and Milliband at the British High Commission Club, aims to send 15 Bangladeshi youths aged 18 to 35 to the Copenhagen summit. The project, overseen by the British Council, seeks to raise awareness about climate change and its adaptation among young people. Interested candidates must submit proposals on climate change, and a panel led by Dr Atiq Rahman of the Bangladesh Centre for Advanced Studies will select the 15 participants.

French Foreign Minister Laurent Fabius, who is leading the U.N. conference, stated that he still intends to release a nearly finalized draft on Thursday afternoon in order to minimize disagreements and prepare for a final round of revisions. He expressed his goal of reaching a final agreement during a meeting with U.N. Secretary General Ban Ki-moon before the talks resumed. Fabius emphasized the importance of completing an agreement to reduce greenhouse gas emissions by Friday, the official closing date of the meeting, rather than extending the conference as done in the past. However, there are still disagreements among ministers and negotiators from 195 countries on key issues, such as determining which countries will provide the necessary funds to assist developing countries in transitioning to lower-carbon energy sources. The issue causing disagreement has heightened tensions between the US and China regarding the financial contributions of countries, as mentioned by US Secretary of State John Kerry. While the Chinese did not provide specific details, they indicated a willingness to compromise. The decision between 1.5 degrees or 2 degrees remains uncertain, with further discussions and revisions planned before a resolution is reached. Gao Feng, a Chinese negotiator, mentioned that more consultations with colleagues are needed before a final agreement is possible, possibly by Friday or Saturday. The discussions have also reignited disagreements on the level of ambition the deal should have in addressing the increase in the earth's temperatures. A significant group of developing countries are adamant that the agreement must include the long-term objective of limiting temperature rise to 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels, even though the carbon emission reductions pledged by countries for the next decade fall far short of that target. Many participants are still haunted by the disastrous failure to reach a deal in Copenhagen in 2009, the last time the world attempted to agree on addressing climate change. Alex Hanafi, head of climate change strategy for the Environmental Defense Fund in the US, stated that there is a strong desire to reach a deal this time, but the question remains whether it will be a robust agreement or a weak one. Jose Ramos-Horta, a former president of East Timor and Nobel Peace Prize laureate who is part of his country's negotiating team, emphasized that no country should expect to achieve everything they want from a treaty. He informed Reuters that a treaty is not set in stone like the Bible and can be reviewed and potentially strengthened in the future, implying that the agreements made in Paris are not final.

The initial UN special session on climate change, held on Tuesday, emphasized the responsibility of wealthy nations in reducing greenhouse gases. Economist Nicholas Stern highlighted the need for both developed and developing countries to take part in a global effort to reduce human-made emissions. Stern proposed a global target of a 50 percent reduction in greenhouse gases by 2050, with wealthier nations expected to make even larger cuts, aiming for around 75 percent reductions due to their historical emissions and greater access to resources. Stern, a former head of the British government's economic service now at the London School of Economics, suggested that responsibility for financing cuts in emissions in other countries may be necessary. British Prime Minister Gordon Brown also emphasized the need for industrialized nations to take greater action on climate change, acknowledging the disproportionate impact on the world's poorest populations. Sunita Narain, director of India's Center for Science and Environment, criticized the lack of real action from political leaders in addressing climate change. John Holdren, an environmental scientist at Harvard University, stated at a gathering that global climate change is responsible for droughts, floods, rising seas, and more intense storms, and cannot be attributed to natural climate variability. The United States, a major emitter of greenhouse gases, did not make a statement at the recent sessions and has rejected specific targets for reducing emissions, citing potential harm to the economy. Instead, Washington has advocated for voluntary rather than mandatory cuts in emissions. President George W. Bush, along with leaders from other industrialized nations, agreed in June to make significant reductions in climate-warming emissions and to negotiate a new global climate agreement to replace the Kyoto Protocol after 2012. The two-day climate meeting at the United Nations is the first of its kind in substance and style, concluding on Wednesday. The event is environmentally friendly, as any emissions produced from air travel and the UN Headquarters building in New York are counterbalanced by supporting a biomass fuel project in Kenya.

The hearing follows a series of sexual assault scandals and new Pentagon data showing a significant increase in unwanted sexual contact in the military, from groping to rape. The top uniformed officers of the Army, Navy, Marines, Air Force, and Coast Guard, along with the chairman of the Joint Chiefs of Staff, appeared before the Senate Armed Services Committee together to demonstrate their commitment to addressing the issue. General Martin Dempsey stated that they are taking swift action to change a complacent climate. While some propose removing responsibility for prosecuting sex crimes from the victim's chain of command, many believe that maintaining the power of commanders is crucial to administering justice quickly and preserving unit cohesion. Despite criticism of the military's handling of past cases, there is a recognition that radical change is needed to address the increase in sexual misconduct cases. Senator John McCain expressed disgust over continued reports of sexual misconduct in the military, emphasizing the need for more than just talk on the issue. Senator Carl Levin, head of the Armed Services Committee, appeared understanding of military concerns about preserving the chain of command's power. Levin stated that only the chain of command has the ability to implement a zero-tolerance policy for sexual offenses. Additionally, only the chain of command is empowered to confront any issues in the command climate that promote or allow sexual assaults.

A climate tribunal organized by Oxfam in Dhaka has placed blame on developed countries for the destruction of fisherfolk communities in coastal Bangladesh due to climate change. The tribunal, held at the Bangabandhu International Conference Centre, highlighted the responsibility of Annex-1 countries under the Kyoto Protocol for the hardships faced by these communities. The event, coordinated by the Campaign for Sustainable Rural Livelihood, aimed to explore legal avenues to protect victims of climate change. Testimonies from four climate victims, including housewives and fishermen, were heard by a jury panel headed by Mizanur Rahman of the Bangladesh Human Rights Commission. The committee also received input from two experts on climate change and international law in an attempt to draw connections between the scientific, national, and international legal aspects of climate change and the ongoing multilateral negotiations. Unfortunately, there is still no binding international agreement in place to ensure compensation for countries affected by climate change due to carbon emissions from developed nations, as stated by legal expert Ahmed Ziauddin. He mentioned that while Bangladesh could bring complaints to various international courts, there is currently no way for individual countries to seek damages. Ziauddin recommended including provisions for climate change in Bangladesh's constitution and noted the lack of a legal definition for climate change in the country. Climate change expert Ahsan Uddin Ahmed stated that developed nations frequently request specific accounts of damage caused by climate change in an apparent attempt to avoid their responsibilities. He emphasized that while the scientific evidence behind climate change is undeniable, it is difficult to establish a separate account for the damages. Following testimonies, the jury recommended the creation of a new law and the inclusion of an article in the constitution addressing climate change. The jury concluded that developed nations, being primarily responsible for the impacts of climate change, should bear the costs of mitigation. Additionally, it noted that the human rights of coastal area residents had been violated by the effects of climate change. The jury panel was made up of politicians Saber Hossain Chowdhury, Tarana Halim, Hasanul Huq Inu, and economist Quazi Kholiquzzaman Ahmed.

After three weeks of virtual mid-year climate talks due to the COVID-19 pandemic, Patricia Espinosa urged nations to set aside their differences and collaborate before the upcoming COP26 negotiations in Glasgow. Despite the challenges of remote work, governments have made progress in areas such as emissions-cutting goals and transparency in reporting climate action. However, disagreements remain regarding global carbon market rules, requiring higher-level political guidance. Espinosa emphasized the importance of ongoing efforts to make significant progress before COP26, as there is a lot at stake according to the top UN official. "I am encouraging all of us to meet the challenge of our time, to complete the task at hand, to bridge our differences, and to keep our promises." The June meetings were the initial official UN climate discussions since the conclusion of 2019, as a result of delays from the pandemic. The COP26 summit has been given the responsibility of finalizing regulations for the 2015 Paris Agreement on climate change in order for the agreement to be fully enforced, according to UN officials. "Success at COP26 is essential," Espinosa stated to reporters on Thursday. "It is a crucial test of our efforts against the climate crisis - it is crucial for a sustainable recovery and it demonstrates the importance of global cooperation during this crucial time." Many countries have not yet submitted updated climate action plans as required by the Paris agreement, a delay caused by the pandemic. The emissions reductions pledged by governments are still far from what is necessary to achieve the Paris goals of limiting global warming to below 2 degrees Celsius, according to the United Nations. The failure of wealthy nations to fulfill their promises of climate finance to assist poorer countries in transitioning to renewable energy and adapting to climate change impacts is also causing concern. The pandemic has further complicated matters, with developing nations struggling to obtain vaccines, potentially affecting their ability to attend the COP26 summit in person. British Prime Minister Boris Johnson, as the conference host, announced this month that his government is working with the United Nations to provide COVID-19 vaccinations to accredited delegations who may not have access otherwise. Diann Black-Layne of Antigua and Barbuda, representing the Alliance of Small Island States, expressed concerns about the uncertainty of the road to COP26 due to the ongoing COVID-19 pandemic. She also emphasized the need for substantial progress on climate finance, calling for a new financial goal at COP26 for nations vulnerable to climate change. Sonam P Wangdi of Bhutan, chair of the group of least developed countries at the UN talks, echoed the importance of delivering on climate finance for the success of the conference. Rich nations have been criticized for failing to meet their promise to raise $100 billion annually from 2020 to assist poorer countries in addressing climate change. Criticism was directed towards G7 leaders for not providing a clear plan on how they would fulfill their pledge at a recent summit, despite Germany and Canada committing additional funds. The virtual nature of this month's UN climate talks led to a lack of formal decisions and technical difficulties for some delegates. To expedite progress, Alok Sharma, the UK official overseeing COP26, intends to convene ministers from over 40 countries in London in late July. Britain's lead climate negotiator, Archie Young, acknowledged the need for more clarity on issues such as vaccinations and logistics for COP26. Sharma announced plans to collaborate with partners on offering vaccines to all accredited COP26 attendees, including government officials, green group representatives, and members of the media, with further details to be provided soon.

At the beginning of the pandemic, the CDC operated at its usual speed. However, due to the rapid spread of a new virus, the country suffered as testing and monitoring fell behind while the agency struggled with outdated methods and infrastructure. Recommendations for masks were delayed because federal scientists took too long to realize the virus was airborne. Now, the highly contagious omicron variant is forcing the CDC to make decisions quickly, leading to recommendations based on limited evidence and concerns about their impact on the economy and education. Dr. Rochelle Walensky, the director of the agency, has occasionally bypassed much of the typical scientific review process, most recently by reducing the isolation period for infected Americans. Following the Trump administration's history of interference, President Joe Biden took office pledging to restore the CDC's reputation for independence and thorough science. Walensky now faces the challenge of effectively communicating to the public that the science is not yet complete, but the current advice is the best available. This shift has been difficult for a bureaucracy primarily made up of medical professionals. In recent interviews, some CDC officials have expressed privately that the decisions have been disheartening, and they are concerned about Walensky relying heavily on a small group of advisors and the perceived political influence from the White House on her decisions. Others from outside the agency praised Walensky for bypassing a slow process and taking a practical approach to handling a national emergency, even when data was uncertain and agency researchers were unsure. Dr. Richard Besser, who was the interim chief of the agency during the H1N1 influenza outbreak in 2009, mentioned that there are policy considerations in a pandemic that go beyond the CDC's jurisdiction. However, he emphasized the need for more clarity when policy and economics influence agency recommendations. According to data from The New York Times, over 800,000 Americans are being infected daily as of Sunday, causing many schools and businesses to struggle to stay open and hospitals in nearly two dozen states to reach full capacity. At the end of December, Walensky announced that Americans who were infected would only need to isolate for five days instead of 10 if they were no longer showing symptoms, and a negative test result would not be necessary to end the isolation period. Critics raised concerns about the potential spread of the virus as contagious individuals were allowed to return to work and school. Despite limited research supporting the shortened isolation period for omicron infections, the recommendation was seen as beneficial for hospitals, businesses, and schools during the surge. Dr. Thomas Frieden, who previously led the agency under President Barack Obama, stated that the recommendations for isolation were essentially correct. The issue is that they were not given a clear explanation. Walensky and the CDC have not commented on recent tensions in decision-making at the agency. However, Walensky has often mentioned rapidly changing science as a reason for recommendations that have been confusing or unpopular. When speaking before the Senate, Walensky stated that the CDC's new guidelines for shortened isolation periods were based on quick actions grounded in science to address the potential problem of staffing shortages. This has been a common theme for Walensky. In March, the CDC stated that students could safely sit 3 feet apart in classrooms instead of 6 feet, even though there was little research to support this recommendation. However, this change did make it easier for school administrators to consider reopening schools. In May, Walensky referenced scientific data when she advised vaccinated individuals to remove their masks and socialize freely, despite criticism from experts who believed this decision overlooked the risk of breakthrough infections, particularly those caused by the delta variant. In August, Walensky, along with Biden, endorsed booster shots for all Americans, preempting the review of the necessity for these shots by scientists at the FDA and her own agency. The recent guidance on isolation caused internal turmoil within the agency due to the process by which it was established and announced. Following this, Walensky held an emergency meeting with the COVID response leaders at the agency on the Sunday night after Christmas. She informed them that the agency would reduce the recommended isolation period and eliminate the need for a negative test result before ending isolation. This information was shared during a video call by an anonymous official. The new guidance would be released the following day by Walensky, and no one was supposed to discuss it until then. Scientists were surprised by this news and quickly worked to gather data to support the changes and update the information on the agency's website related to quarantine and isolation. Normally, federal researchers carefully review data, draft a recommendation, and refine it based on feedback before publication. However, in this case, there was limited evidence supporting the shortened isolation period, particularly for the delta variant, resulting in the accompanying "science brief" being downgraded to a "rationale" document. Some researchers were upset about not being involved in the decision-making process and were angered by the agency's claim that the change was based on science. While some thought the new five-day cutoff was arbitrary, they were aware of data suggesting rapid tests might miss omicron infections and mostly supported Walensky's decision not to require a negative test before ending isolation. However, when Walensky announced the new recommendations on December 26, staff were unprepared. CDC scientists then struggled to update guidance documents on the website over the next week. Approximately 2,000 health officials and researchers joined a weekly call with CDC officials, where on December 27, they questioned the agency about isolation guidance for the general public just hours before the CDC released its statement. CDC staff members were instructed not to discuss the new recommendations, leading to silence among them. Scott Becker, the CEO of the Association of Public Health Laboratories, expressed a desire for more input and advance notice. Supporters of Walensky, the CDC director, believed the agency's change in direction was necessary and commended her decisions. The CDC is a large organization with researchers who are used to working methodically, but the urgent nature of the pandemic required quicker action. Frieden noted that there are individuals at the CDC who do not fully understand the situation. He stated that during his time in office, he often encountered CDC staff who were unaware of the potential consequences of their recommendations and statements. Several experts believe that Walensky has been unfairly blamed for the challenges posed by the ongoing pandemic. Taking on the role of leading the CDC is difficult under normal circumstances, but Walensky assumed the position during a pandemic, in a politically charged environment, and at a time when the agency's credibility and staff morale were low. Additionally, agency researchers are still working remotely, which is seen as a significant obstacle to overcome. "I am worried about the CDC," Besser stated. Besser expressed his concerns about the public's trust in public health and defended Dr. Walensky from unfair blame. Walensky has been explaining her decisions at White House briefings, but in response to criticism, she and other CDC scientists held their own briefing to address questions about isolation guidance, rising hospitalizations among children, and plans for a fourth vaccine shot. This move was seen as a positive step in rebuilding trust in the CDC and providing clarity on its decisions, according to some experts. Besser emphasized the importance of separating public health considerations from political considerations. "She will be able to support CDC scientists and experts by attending briefings from the CDC. The current conflict at the CDC existed before the pandemic and before Walensky's leadership. Some health officials have noted tension between the CDC and the National Institutes of Health, particularly with Dr. Anthony Fauci. In a recent incident, Fauci and Surgeon General Dr. Vivek Murthy made assurances on television about the CDC revisiting recommendations for isolation, even though the agency had no plans to do so, which upset senior CDC scientists. Dr. Peter Hotez, dean of the National School of Tropical Medicine at Baylor College of Medicine, suggested that Health and Human Services Secretary Xavier Becerra should help resolve the conflict. In a rare interview, Becerra defended Walensky, stating that she has a medical license and a degree in public health." "She is not qualified in marketing as she does not possess a degree." © 2022 The New York Times Company.

In Copenhagen on December 18th, a UN summit is discussing the possibility of limiting global warming to a maximum of 2 degrees Celsius. This goal is supported by a proposed new fund of $100 billion annually to assist developing nations. A draft text, put together just hours before world leaders gathered, emphasizes the need for significant reductions in global emissions. The draft also calls for commitments from wealthy nations to cut greenhouse gas emissions by 2020. While still in draft form, the text stresses the importance of immediate and enhanced national action, as well as strengthened international cooperation, in response to the scientific consensus that global temperatures should not rise beyond 2 degrees. Many of the world's largest economies have already committed to limiting the rise in global temperatures to 2 degrees Celsius above pre-industrial levels, which is considered a critical point to prevent severe impacts such as increased flooding, heatwaves, droughts, and rising sea levels. The parties involved have pledged to work together to mobilize $100 billion by 2020 to help address the climate change needs of developing countries, with funding coming from a variety of sources. This commitment mirrors similar statements made by U.S. Secretary of State Hillary Clinton at the Copenhagen meeting. Additionally, there is a goal to provide $10 billion per year in immediate assistance to developing nations from 2010-2012, with funding increasing towards the $100 billion target by 2020. The text mentioned that developing countries would be willing to accept some monitoring of their pledged emissions reductions, including providing updates to the UN Climate Change Secretariat every two years. The United States is pushing for international verification to be included in any agreement. Negotiations for one or more new climate treaties would need to be completed by the end of 2010, according to the draft. The text clarified that the agreement would not be legally binding. It also stated that countries would continue discussions in order to adopt one or more legal instruments as soon as possible, but no later than COP 16, the next UN meeting scheduled for November 2010 in Mexico. Numerous developing countries are seeking two agreements: an extension of the Kyoto Protocol, which currently requires wealthy nations to reduce emissions until 2012, and a new pact outlining responsibilities for poorer nations. Developed countries, on the other hand, prefer a single treaty. The proposed text, known as the "Copenhagen X," is controversially named due to differing opinions. Some critics, including an environmental activist, believe it is insufficient and have dubbed it the "Copenhagen catastrophe."

An agreement in Copenhagen next month on a new pact to combat climate change is expected to attract long-term investors towards companies better equipped to handle an anticipated increase in the cost of carbon emissions. A solid political agreement with emission reduction targets at the upcoming summit could prompt investors like pension funds and sovereign wealth funds to adjust their portfolios to account for the long-term risks associated with climate change. This is likely to benefit firms that are energy self-sufficient or involved in alternative energy sources like wind or solar power, while putting pressure on industries with high emissions such as utilities, aluminum, and car manufacturers. A more specific agreement, such as a legally binding target for emission reductions, could lead funds to start changing their asset allocation now to safeguard their portfolios from the impact on companies affected by rising emission costs. In essence, it would be a global treaty aimed at regulating pollutants. Bruce Jenkyn-Jones, managing director of listed equities at Impax Asset Management, stated that by intervening in the economy to control and internalise the cost of carbon, there will be an impact on products and services as people will have to pay for carbon across the economy. This will particularly affect big energy producers, utilities, and industrials. Impax manages 50 million pounds in global equities for the UK Environmental Agency's Active Pension Fund. The strength of a Copenhagen deal is still uncertain. During a preliminary UN meeting in Barcelona recently, developed countries downplayed the likelihood of reaching a consensus on a legally binding document, suggesting that it could take an extra 6-12 months. However, developing countries are wary of wealthy nations reneging on their commitments to take the lead in combatting climate change. They are adamant about securing a legally binding agreement in December, despite the skepticism of politicians about the outcome. This situation presents a real opportunity for progress. Simon Webber, a fund manager at Schroders, stated that decisions made in Copenhagen will have a significant impact on the growth rates of companies in which you are investing. He believes that industries immediately affected by a concrete deal would include power generation, utilities, and transport. Webber pointed out that some utilities, like Germany's RWE, could potentially face higher carbon costs that could amount to nearly a third of operating profits in the coming years. Additionally, he highlighted Warren Buffett's $26 billion deal in November to acquire railway firm Burlington Northern Santa Fe as evidence of the long-term viability of rails. Webber predicts that with an aggressive deal, the growth rates of nuclear power and solar industries will soar, leading to a major shift from combustion engine cars to electric vehicles in the future. Malcolm Gray, a portfolio manager at Investec Asset Management, stated that meeting tough initial targets is necessary and industries that are energy self-sufficient like sugar will be able to handle emission reductions better and attract investments. On the other hand, utilities in the traditional thermal sector and non-diversified aluminum producers will be at risk. Due to high carbon prices, the cost of goods will increase, impacting consumers with lower disposable income and some retail businesses with low margins. Gray also emphasized that there is more embedded inflation in the world than people are aware of. He stated that there may be a more aggressive inflation cycle globally compared to the current deflating world. The outcomes of the Copenhagen talks could help investors reduce portfolio risks by predicting the increase in the cost of carbon emissions and investing in industries that benefit from alternative energy. Long-term investors like sovereign funds are becoming more involved in environmental investing, while private sector involvement has been slower. Norway's oil fund, a major owner of European stocks, is investing over $3 billion in firms involved in environmental technologies and encouraging companies to address climate change more aggressively. "We benefit most from encouraging good corporate behavior. This aligns well with our long-term investment goals," stated Martin Skancke, director general of Norway's Ministry of Finance Asset Management Department, in a recent interview with Reuters. Rabobank believes the Copenhagen agreement will provide clarity for the Dutch bank, which already considers the cost of carbon emissions as a risk factor when granting credit. "We will focus on managing risks and anticipate business opportunities in due course," explained Ruud Nijs, head of corporate social responsibility at Rabobank. "If there was a tax on the costs of climate change, it would prompt us to reassess our credit portfolio." If a customer is now required to bear the cost of climate change, the risk factor for that customer will greatly shift. The bank has invested over 4 billion euros in renewables, with all credit investments in clean technology over the past 18 months. It is the only debt provider for the Belfuture solar project, valued at hundreds of millions of euros. Additionally, the bank has provided project financing totaling 620 million euros for the Belwind offshore wind farm project. The Copenhagen agreement offers a more favorable environment for conducting business. Nijs stated that significant cleantech deals and investments in solar, wind, and biomass technologies will be automatically generated as a result of the positive outcome. Additionally, the pipeline will also see an increase.

Heckling has always been a challenge for Trudeau, but this time the criticism is more intense. After six years in office, the prime minister, who once symbolized change and positivity, is now seen as part of the political establishment with a record of mistakes for opponents to point out. Despite predictions that the Liberal Party will maintain control of Parliament, this tough election campaign has not been beneficial for Trudeau. Ben Chin, the prime minister's senior adviser, acknowledged that it would have been difficult for any politician to maintain Trudeau's initial popularity after being in power for several years. During his time in office, Trudeau has had to make difficult decisions that have not been universally supported. Critics, including opposition party leaders, have accused him of prioritizing his personal and political interests over the well-being of the nation. These criticisms have been fueled by controversies surrounding a charity linked to his family and a breach of ethics laws related to pressuring a minister to help a Quebec company. Trudeau's opponents have also highlighted unfulfilled promises and have criticized his handling of anti-vax protesters, some of whom have ties to far-right groups. Safety concerns have forced the shutdown of rallies, and Trudeau himself has faced physical attacks, such as being pelted with gravel. An official from the People's Party was later charged with assault involving a weapon in that incident. Since 2015, Trudeau has achieved many things, such as implementing carbon pricing and other climate initiatives, legalizing cannabis, increasing funding for Indigenous issues, and banning 1,500 models of military-style rifles. A new initiative will offer child care for 10 Canadian dollars per day per child. While his popularity has waned, Trudeau still has a strong presence. When he visited the outdoor terrace of a cafe in Port Coquitlam, a suburb of Vancouver, for elbow bumps, quick chats, and selfies with voters, a crowd quickly gathered. Joy Silver, a 76-year-old retired schoolteacher from nearby Coquitlam, expressed her love for Trudeau. However, as Election Day approaches, many Canadians are questioning why Trudeau is holding a vote now, two years early, amidst rising COVID-19 infections from the delta variant. Some provinces are imposing new pandemic restrictions or delaying the lifting of existing ones. Criticism was also directed at Trudeau for calling the vote the same weekend that Afghanistan fell to the Taliban, while Canadian troops were working to evacuate Canadians and Afghan allies. Gerald Butts, a longtime friend and former top political adviser to Trudeau, noted that the campaign has struggled to address this issue. Trudeau has acknowledged that the difficulty in getting the message across is one of the reasons why they are struggling. He mentioned the need to replace his plurality in the House of Commons with a majority to effectively handle the remaining pandemic issues and the subsequent recovery. The Liberal Party's strategy was to capitalize on Canadians' positive views of Trudeau's handling of pandemic-related matters such as income support and vaccine procurement. Trudeau emphasized the party's experience, team, and plan to continue delivering results for Canadians at a rally in Surrey. Despite being in a statistical tie with the Conservative Party throughout much of the 36-day campaign, Trudeau urged voters to choose the Liberal Party if they want to end the pandemic. Political scientist Kimberly Speers suggested that Trudeau's personality and celebrity status could be working against him. She stated that the NDP and the Conservatives have been emphasizing that Trudeau's actions are a power grab focused solely on him, which has resonated with voters. Some scandals that occurred during Trudeau's time in office have also benefited the opposition, such as the resignation of his veterans affairs minister in 2019 over allegations of improper pressure to benefit a Canadian corporation. Despite Trudeau's promotion of diversity, it was revealed during the 2019 election that he had worn blackface or brownface multiple times in the past. Additionally, a charity linked to his family received a no-bid contract to oversee a COVID-19 financial aid program for students last year. The group retreated, the program was called off, and Trudeau was exonerated by the federal ethics and conflict of interest commissioner. Critics have also pointed out areas where they believe he has not delivered on promises, such as implementing a nationwide prescription drug plan, reforming Canada's electoral system, reducing debt relative to the economy, and addressing issues of sexual harassment in the military and solitary confinement in federal prisons. A study by the Centre for Public Policy Analysis at Laval University in Quebec City revealed that Trudeau has completely fulfilled 45% of his promises and partially fulfilled 27%. Singh has been emphasizing Trudeau's commitment to providing clean drinking water to all Indigenous communities, as there were 105 boil-water advisories in place when Trudeau came into office, with more added later on. The government has provided clean water to 109 communities, although there are still 52 boil-water orders in place. During the official English-language debate, Singh suggested that while he believes Mr. Trudeau cares, he has often engaged in actions for display without following through with real action. O'Toole, on the other hand, has characterized the election as a pursuit of personal gain, describing Trudeau as privileged, entitled, and self-serving at a recent event in rural Ottawa. "He prioritized his own interests when he decided to call for this costly and unnecessary election during a pandemic." Security measures have been increased at Trudeau's campaign events due to disruptions by protesters unhappy about COVID-19 vaccination requirements and vaccine passport regulations. At a rally in Surrey, Trudeau spoke energetically to a mostly South Asian crowd, which had been invited rather than publicly announced to control the size of the gathering. No signs advertised the event, and two police snipers observed from the roof of the venue. Trudeau was indirectly asked if US politics had influenced the unruly protests following the cancellation of a rally in Ontario. He responded by suggesting that everyone should consider whether they want to embrace anger, division, and intolerance. Trudeau also mentioned that he has never witnessed such intense anger during a campaign or in Canada before. While it is difficult to accurately predict how many seats each party will hold in the next House of Commons based on wider poll results, current polls indicate that Trudeau may have alienated many Canadians by calling an early election and faced abuse while campaigning, without gaining any political advantage. The Liberals are expected to retain power but may not secure the majority they were aiming for. If this turns out to be true, Butts noted that the situation would be similar to where they started, which he finds ironic.