Globalized economy definition

Ukrainian service members walk in the industrial area of the city of Sievierodonetsk, as Russia’s attack on Ukraine continues, Ukraine June 20, 2022. (REUTERS/Oleksandr Ratushniak/File Photo) KYIV/POKROVSK, Ukraine — Russian forces have fully occupied Sievierodonetsk, the mayor of the eastern Ukrainian city said on Saturday, confirming Kyiv’s biggest battlefield setback for more than a month, after weeks of some of the war’s bloodiest fighting. Ukraine called its retreat from the city a “tactical withdrawal” to fight from higher ground in Lysychansk on the opposite bank of the Siverskyi Donets river. Pro-Russian separatists said Moscow’s forces were now attacking Lysychansk. The fall of Sievierodonetsk — once home to more than 100,000 people, now a wasteland — was Russia’s biggest victory since capturing the port of Mariupol last month. It transforms the battlefield in the east after weeks in which Moscow’s huge advantage in firepower had yielded only slow gains. Russia will … [Read more...] about Ukrainian city falls to Russia in one of war’s bloodiest fights

When Martin Luther King reminded us of “the fierce urgency of now,” he also warned that “there is such a thing as being too late.” On fixing the climate crisis, we are almost at that point. With record heat waves now raging across North America, Europe, and Asia; drought, wildfires, crop failures, and famine in some regions; unprecedented floods elsewhere; and record-high global ocean temperatures the last six years in a row, the summer of 2022 seems like we are all walking through the gates of hell. Perhaps the “fierce urgency” of this summer’s climate chaos will move governments to finally act. Despite 30 years of United Nations climate change conferences, global greenhouse gas emissions continue to rise, and the climate crisis continues to worsen. This November, the 27th United Nations climate conference (COP27) will be held in Sharm El-Sheikh, Egypt, and the Group of 20 Summit will be held in Bali, Indonesia. These government summits may be our last best chance to fix the … [Read more...] about Bali G20: Last best chance to fix climate crisis

A woman takes a picture of a globe at the COP21, the United Nations Climate Change Conference Monday, Dec. 7, 2015 in Le Bourget, north of Paris. The Paris conference is the 21st time world governments are meeting to seek a joint solution to climate change. The talks are focused on reducing emissions of carbon dioxide and other greenhouse gases, primarily by shifting from oil, coal and gas to cleaner sources of energy. AP LE BOURGET — Weary envoys from 195 nations battling to forge an accord to save mankind from disastrous global warming emerged Thursday from all-night talks facing an imminent deadline with deal-breaking rows still unresolved. More than two decades of bruising international diplomacy have failed to produce such a pact, which would require the world’s energy system to cut back on burning coal, oil and gas that releases planet-warming gases. The 195-nation UN talks in the French capital have been billed as the last chance to avert worst-case-scenario climate … [Read more...] about Crunch time after all-night climate talks in Paris

(Representative image: Shutterstock) We need to look at India’s presence in the forthcoming G7 summit on June 26-27 beyond the positive hypes and negative hopes set by domestic constituencies and global narrative peddlers. On its own, there is nothing exclusive about this invitation. Apart from India, the German presidency has invited Argentina, Indonesia, Senegal, and South Africa to the summit to be held at Schloss Elmau, Bavaria. Yet, if some folks take Western pressures seriously (we don’t), India is expected to be on the back foot because it did not toe the G7 line and stood its own on the Russia-Ukraine conflict. The dominant narrative today is that India needs to be punished. So far gone are these voices that global news agencies have forgotten basic journalism. They are mixing wishful thinking with facts, using the convenience of unnamed sources as cover. When they report that “ Germany is debating whether to invite Prime Minister Narendra Modi to the Group of … [Read more...] about India At G7 | Expectations from and support for India will rise rather than fall

Unprecedented forest fires in the drought-stricken western United States . Tropical storms and rising seas threatening the Gulf and Atlantic coasts. Sizzling heat across large swaths of the country. As climate change unfolds before our eyes, what can the U.S. do to sharply and rapidly reduce its share of the greenhouse gas emissions that are causing it? advertisement advertisement The Biden administration has committed to reducing those emissions 50% by 2030 to below 2005 levels. That’s a critical first step of a global energy transition that must achieve net-zero emissions by midcentury to limit warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) and thereby avert the worst impacts of climate change. Twenty years ago, I would have regarded the U.S. 2030 pledge as crazy talk. But a new study in the journal Science that I coauthored, compares results from six independent analyses conducted by academic, industry, and nongovernmental … [Read more...] about How we can meet Biden’s 2030 climate goals with today’s technology

DREAMGATEWAY Exterior design of SMC’s P740-billion New Manila International Airport in Bulakan, Bulacan, the single most expensive infrastructure project in Philippine history. —CONTRIBUTED PHOTOS Ramon S. Ang is never out of new ideas, especially when it comes to expanding the business and economic footprint of one of the country’s largest conglomerates, which he heads. When we sat down for an interview recently, however, the president and CEO of San Miguel Corp. (SMC) seemed more focused than usual on one particular project—one mega project which, by his own admission, will only start making money two decades after its completion. At a total projected cost of P740 billion ($13.5 billion)—to be financed solely by the company without a single centavo of funding from the government—the new Manila International Airport in Bulakan, Bulacan, is the most expensive infrastructure undertaking in the country’s history whether by a public or private entity. “This is a legacy project … [Read more...] about World-class ‘aerocity’ rising

Wall Street's main indexes rose over 1% on Friday as signs of slowing economic growth and falling commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Global financial markets have been roiled this month on worries that rapid rate hikes by major central banks could cause a recession, with the benchmark S&P 500 (.SPX) confirming a bear market last week as it recorded a 20% drop from its January closing peak. The three main indexes on Friday looked set to notch their first weekly gain in four, boosted by megacap growth stocks and defensive sectors such as healthcare and utilities seen as safer bets during times of economic uncertainty. "Conversations about the U.S. economy likely slowing which could lessen the hawkishness of the Fed, combined with lower commodity prices and bond yields - these are reasons investors are mentioning to justify why we could experience a near-term bounce," said Sam Stovall, … [Read more...] about Wall Street rallies as traders dial back rate-hike bets

- A + A (June 25): Just days after saying Singapore is “brutal and unrelentingly hard” on bad behaviour in the crypto industry, Sopnendu Mohanty, the chief fintech officer of the city’s regulator, struck a cordial tone. Mohanty, in a LinkedIn post summarising his thoughts from the Point Zero Forum in Switzerland, commended the leadership of some of the biggest firms in the sector. “Leaders from the crypto/token space (Binance, Crypto.com, Ripple and others) are fully committed to building a secure and sustainable innovation solving real problems, and identifying real-economy opportunities,” said Mohanty of the Monetary Authority of Singapore (MAS). “It is heartening to see the clarity among chief executive officers (CEOs) on the need to create a responsible and compliant industry. The future is on the right path.” Mohanty’s praise comes as the digital currency market continues to spiral downwards following a broad-based sell-off in digital assets and the collapse … [Read more...] about Singapore regulator praises leaders of crypto firms like Binance

In those first few fraught hours of February 24th, after Russian forces invaded Ukraine, Anastasiia Smyk, CEO and co-founder of aviation software startup Input Soft , recalls being in a state of shock and incredulity. She was in Kyiv at the time, but her 11-strong team was scattered around the country. advertisement advertisement “The first week we were just thinking about how to survive at a human level,” says the 25-year-old entrepreneur. “So we decided to rent a house for our team in the Carpathian mountains, in the [safer] western part of Ukraine, and told them they could go there with their families to wait until we knew more about what was happening. Some of them went. Others were unable to get out.” One of those left behind was the startup’s accountant, whose home town of Kherson, in southern Ukraine, has been under Russian occupation since early March. On May 3rd, when the internet and mobile communications went down, she decided to risk her … [Read more...] about The war in Ukraine hasn’t ended. Here’s how these founders continue to build their businesses