Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter's question about U.S. President-elect Donald Trump's plan to impose 60% tariffs on imports from China, Vice Commerce Minister Wang Shouwen said that would "not solve the country’s own trade deficit problem.” “On the contrary, it pushes up the prices of the country’s imports from China and other countries,” Wang said during a news conference, noting that increased prices add to inflation.
Greece this week signed a clean energy deal with the EU in a bid to fast-track the green transition on its fragile islands threatened by overtourism and climate change.Investing in "green" energy sources will "allow the islands to achieve their ecological transition", said Prime Minister Kyriakos Mitsotakis.
Most Asian markets gained Friday after a bounce on Wall Street, while bitcoin continued its march higher to move within touching distance of the $100,000 mark.Bitcoin, meanwhile, continued its heady run higher and set a new record high of $99,368.28.
Laotian police have detained the manager and owner of a hostel where two teenage Australian tourists stayed who were poisoned by tainted alcohol, one fatally, in a case that appears to have claimed the lives of at least five people. An officer at Vang Vieng's Tourism Police office, who refused to give his name, told The Associated Press on Friday that a “number of people” had been detained in the case but that no charges have yet been filed. Staff at the Nana Backpacker Hostel, which was still operating but not accepting new guests, confirmed that the manager and owner were among those taken in for questioning.
Forecasters warned of more high winds headed to the battered Pacific Northwest, while an atmospheric river continued to dump heavy rain on California.
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The Bahamas has unlocked more than $120 million to fund the conservation and management of its oceans and mangroves with a debt swap financed by Standard Chartered and backed by the private sector. By spending $215.7 million to buy back Eurobonds and repurchasing an $81 million commercial bank loan using a lower-cost $300 million loan from Standard Chartered, the Bahamas is able to redeploy the interest and principle payment savings to fund wide-reaching ocean conversation projects. So-called debt for nature swaps are emerging as an important tool to help countries achieve their conservation and climate goals and close the $942 billion nature finance gap BloombergNEF estimates is needed to restore and maintain biodiversity globally.
The Bahamas announced Friday that it will refinance $300 million of its external debt to free up more than $120 million for marine conservation projects and climate change mitigation. It is the fifth such debt-for-nature swap in the world, with the Bahamian government signing the deal with The Nature Conservancy, the Inter-American Development Bank and other financial partners. “We see this project not just supporting the biodiversity and climate objectives of the country, but ultimately the economy and livelihoods of many, many folks,” Shenique Albury-Smith, the Bahamas-based deputy director for The Nature Conservancy, told The Associated Press.
Russia has supplied anti-air missiles to North Korea in exchange for it sending troops, a top South Korean official said Friday. The U.S., South Korea and others say North Korea has sent more than 10,000 troops to Russia to support its war against Ukraine. What Russia would give North Korea in return has been the focus of keen attention.
With a general election next week, Ireland and its 5.4 million inhabitants fear finding themselves in the eye of a protectionist storm promised by incoming US president Donald Trump.- Stewart, from Trinity College Dublin Business School, described the looming Trump presidency as "a matter of concern" but said "not to panic at this stage".
Nearly six years after actor Jussie Smollett was accused of staging a hate-crime hoax in downtown Chicago and lying to police, an Illinois Supreme Court decision overturned his conviction over prosecutorial issues, according to the Associated Press.
Ryan Borgwardt, a Wisconsin father and husband missing since August, was believed to have drowned. Now, police have confirmed he is alive and fled the country.
In heavily forested Gabon, elephants are increasingly wandering into villages and destroying crops, angering the local population who demand the power to stop the critically endangered animals in their tracks.But that does not stop villagers from viewing the animals as a pervasive problem.
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach, officials said Friday. The adult male was found on Nov. 1 on Ocean Beach sand dunes in the town of Denmark in temperate southwest Australia — about 3,500 kilometers (2,200 miles) north of the icy waters off the Antarctic coast, the Western Australia state government said. The boat traveled for several hours from the state’s most southerly city of Albany before the penguin was released into the Southern Ocean, but the government didn't give the distance in its statement.
A historically strong bomb cyclone, which triggered winds that killed at least two people, is working with a powerful atmospheric river to bring heavy rain, potential flooding, gusty winds and mountain snow across Northern California and the Pacific Northwest – and another storm is on the way.
Hungry bears broke into a storage room at Joint Base Elmendorf-Richardson to feast on the military rations.
From the start, COP29 has been about climate finance — money that wealthy nations are obligated to pay to developing countries to cover damages resulting from extreme weather and to help those nations adapt to a warming planet. Experts put the figure at $1 trillion or more, but draft texts that emerged Thursday after nearly two weeks of talks angered the developing world by essentially leaving blank the financial commitment. The talks often run into overtime as wealthier nations are pressed to pay for impacts caused largely by their emissions from centuries of burning fossil fuels.
Bondi is a former Florida attorney general and was part of Trump's defense during his first impeachment trial.
Gaetz resigned from the current Congress, but he was re-elected in November to represent his Florida district. That raises the question: Could he return in January?
Indonesian President Prabowo Subianto has announced that his government plans to retire all coal and other fossil fuel-power plants while drastically boosting the country's renewable energy capacity in the next 15 years. Subianto also said he was “optimistic” Indonesia would achieve net zero emissions by 2050, a decade sooner than the country's previous 2060 commitment.