World

Hitting the gas on methane rules

Yesterday, Canada joined the U.S. in creating strict methane rules to meet climate goals.

What happened: The federal government is planning to roll out new regulations that target methane emissions in the oil and gas industry, with Environment Minister Steven Guilbeault saying the controlled release or burning of methane will be almost entirely barred by 2030. 

First Quantum might lose a shiny copper deal

Panama’s top court is currently weighing whether or not to block a Canadian mining giant from tapping into the region's copper.

Driving the news: A ruling by the country’s Supreme Court this week could squash First Quantum’s plans to mine copper at the Cobre Panama mine—which accounts for ~1% of global copper supply—by blocking a 20-year government deal.

No lab-grown meatballs for Italy

Imagine eating a strip of prosciutto or a slice of capocollo that was cultivated in a lab. Sounds a little strange, right? Well, to the Italian government, it’s downright criminal.   

Driving the news: Italy has taken a full-blown stance against lab-grown meat products. The country has banned fake meat after one of Italy’s largest farming associations made the case that it poses a risk to Italy’s rich culinary cultural heritage and agricultural sector. 

The limit does not exist for Germany’s spending

Like us on Black Friday weekend, Germany is turning a blind eye to its credit limit and hoping everything turns out okay in the end. 

Driving the news: Germany will suspend a constitutional limit on new borrowing for the fourth year running as it scrambles to fill a €60 billion hole in its climate-focused fund, which has sparked a debate over whether its “debt brake” is slowing down needed investments.

A truce between Israel-Hamas starts today

A hostage deal is expected to bring the first break in the fight between Israel and Hamas.

What happened: As of writing, a four-day truce between Israel and Hamas is set to begin this morning after both sides reached a deal to free hostages taken by Hamas on October 7th in exchange for the release of Palestinian prisoners held by Israel.

Xi makes a splash in America

To the surprise and delight (emphasis on the surprise) of the world, Xi Jinping’s second face-to-face meeting with Joe Biden actually went pretty well. 

What happened: This week, Xi Jinping wooed politicians and business leaders during a four-day-long visit to San Francisco, where the Chinese President broke bread with America’s top political and business leaders at a $2,750-a-head welcome banquet. 

Pakistan purges undocumented Afghans

Pakistan kicked off an unprecedented crackdown on undocumented immigrants that could send over a million people into the arms of an authoritarian regime. 

What happened: Pakistan commenced the mass arrest and deportation of undocumented immigrants after a deadline to voluntarily leave the country passed this week. While the directive includes all undocumented migrants, it clearly targets recent Afghan migrants.

The impacts of Africa’s youth boom

Want to feel old? The median age in Africa is just shy of 19. 

Driving the news: In most of the world, anxieties about how countries will care and pay for their fast-ageing populations are growing. Africa is the exception: The continent is seeing a baby boom that is fuelling one of the youngest and fastest-growing populations on Earth.

Could we see a billionaire tax?

Three things are certain in life: Death, taxes, and billionaires not paying said taxes. 

Now, calls are on the rise to get them to pay their fair share. 

Driving the news: The EU Tax Observatory wants the world to come together and impose a minimum 2% wealth tax on billionaires, which it believes could raise US$250 billion annually. 

Rich countries feel the migration surge

Make some room! International migration to advanced economies reached an all-time high last year, with estimates suggesting a further influx this year, per new OECD stats. 

Driving the news: Per the Financial Times, the OECD added ~6.1 million new permanent migrants across its 38 member nations last year, a 26% jump from the year before.