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Author's articles
France hopes for 'ambitious' growth in budget plan
The French government on Wednesday presented a budget plan based on a buoyant growth prediction that raised eyebrows at France's public finance watchdog. Pierre Moscovici, a former finance minister and now head of the independent HCFP watchdog that checks the realism of government predictions, called the forecast gap "big, very big" during a senate hearing.
Decarbonising shipping to cost over $100 bn per year: UN
The UN called for rapid decarbonisation of the shipping industry on Wednesday, warning that the price tag could top $100 billion a year as the sector's emissions continue to swell. And even more investments -- as much as $90 billion -- would be needed each year to develop the necessary infrastructure for 100 percent carbon neutral fuels by then, it said.
Indonesia bans goods transactions on social media platforms
Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday, as Jakarta aims to rein in direct sales on major platforms it says are harming millions of small businesses. Experts said the transaction ban would hit the coffers of social media platforms such as TikTok, which takes a commission from every sale.
Poland says open to Ukraine grain proposals ahead of talks
Poland's agriculture minister said on Wednesday that his country remained open to a Ukrainian proposal for a grain import licensing system, adding that the thorny issue would be discussed in the coming weeks.
Crypto firm Binance pulls out of Russia
Cryptocurrency firm Binance said on Wednesday it was selling its Russia business, months after reports suggested US authorities were investigating possible sanctions violations. Bloomberg reported in May that the US Department of Justice was looking into claims Russians had used Binance to skirt US sanctions imposed over Moscow's invasion of Ukraine.
UK grants controversial North Sea oil and gas output
Britain on Wednesday authorised oil and gas production in its largest undeveloped field to boost energy security, one week after diluting net zero targets, triggering more condemnation by green groups. The UK oil and gas regulator on Wednesday said the decision to authorise new North Sea output had taken "net zero considerations into account throughout the project's lifecycle".
Police hold boss of troubled developer China Evergrande: report
The billionaire boss of beleaguered Chinese property developer China Evergrande is being held by police, a report said Wednesday, as the debt-ridden company grapples with severe financial difficulties. Calls by AFP to Evergrande offices in Hong Kong and mainland China went unanswered and the company did not respond to a request for comment.
'Save our village': Indonesians resist eviction for China-backed project
Sitting on a creaky bridge linking stilt houses, Indonesian fisherman Sadam Husen fears for his people and their traditions, knowing they may be uprooted from their ancestral land to make way for a China-funded megaproject worth billions. Each has been promised 500 square metres (5,400 square feet) of land and a 45-square-metre house worth around 120 million rupiah ($7,800) in compensation.
Can a $20 billion bet wean Indonesia off coal?
Less than a year after it was announced, a $20 billion bet to wean Indonesia off coal is mired in controversies over financing and the construction of new plants to power industry. The basic premise is simple: public and private financing of up to $20 billion, in exchange for Indonesia peaking power sector emissions by 2030 and reaching net-zero power sector emissions by 2050.
AFP
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