Connect with us

Foreign

Food Security: UN Deputy Chief harps on sustainable investment in Africa

Published

on

Un

UN Deputy Secretary-General Amina Mohammed has called for sustainable investments to build food sovereignty in Africa.

She also underscored the need for strengthening domestic resources, investing in climate action and fixing the global financial architecture.

Deputy Spokesperson for the Secretary-General Farhan Haq told journalists on Tuesday in New York that Mohammed discussed this at the ongoing UN Food Systems Summit+2 Stocktaking Moment (UNFSS+2) in Rome, Italy.

The UN top official spoke at a high-level special event on Africa’s food sovereignty and resilience, organised by the Interdepartmental Task Force on African Affairs (IDTFAA) on the sidelines of the summit.

The deputy UN chief also delivered remarks to an event, headlined Healthy and Protected Oceans, underscoring the urgency of defending marine environments and coastal ecosystems.

“Pollution, overfishing, over-exploitation, acidification and the impacts of climate change and increasing sea surface temperatures disrupt the ocean’s vital functions, imperil biodiversity, and deplete its resources that are vital for people and planet alike.”

She said the challenges facing the ocean combined with economic and environmental burdens within small island nations, representing an “immediate threat”.

“For vulnerable people, the effects are all too immediate.

“For example, between June and September 2022, nearly 94 per cent of small island developing states faced food inflation levels above five percent, with many experiencing inflation in the double digits.”

She stressed that was simply putting nutritious food out of reach, impacting children, women and those below the poverty line most of all.

“Together, let us recognise the urgency of protecting our oceans and coastal ecosystems, safeguarding the future of food systems in small island developing states, and forging a path towards a more sustainable and equitable world that benefits all people.”

According to him, Mohammed later took part in a farmer’s market event together with Antonio Tajani, the Deputy Prime Minister and Minister for Foreign Affairs of Italy.

On the margins of the conference, Mohammed held several bilateral meetings with heads of delegations, as well as the President of the Islamic Development Bank.

Foreign

Putin Registers As Candidate For Russia’s Next Presidential Election

Published

on

Russia on Monday officially recognised Vladimir Putin as a candidate for the presidential elections in March, a vote that he is all but certain to win.

The 71-year-old has led Russia since the turn of the century, winning four presidential ballots and briefly serving as prime minister in a system where opposition has become virtually non-existent.

The Central Election Commission said it had registered Putin, who nominated himself, as well as right-wing firebrand and Putin-loyalist Leonid Slutsky as candidates for the vote.

The election will be held over a three-day period from March 15 to 17, a move that Kremlin critics have argued makes guaranteeing transparency more difficult.

Following a controversial constitutional reform in 2020, Putin could stay in power until at least 2036.

Rights groups say that previous elections have been marred by irregularities and that independent observers are likely to be barred from monitoring the vote.

While Putin is not expected to face any real competition, liberal challenger Boris Nadezhdin has passed the threshold of signatures to be registered as a candidate.

However, it is still unclear if he will be allowed to run, and the Kremlin has said it does not consider him to be a serious rival.

Continue Reading

Foreign

Hong Kong court grants Chinese real estate giant reorganisation postponement

Published

on

Hong Kong’s Supreme Court has once again granted the highly indebted Chinese real estate giant Evergrande a postponement for its reorganisation plan.

Judge Linda Chan surprisingly postponed the decision until Jan. 29, the South China Morning Post reported on Monday.

The property developer, which has liabilities estimated at more than 300 billion dollars, is threatened with liquidation.

However, creditors from abroad had taken the company to court because of its missing several payments.

Chan had already said at the previous hearing that this would be the last postponement and that she would very likely agree to liquidation if China Evergrande did not find a plan for restructuring with its creditors.

According to reports, however, the lawyers of the Hong Kong-listed group had now held out the prospect of being able to reach an agreement with the lenders in the coming weeks.

In the case of liquidation, an insolvency administrator would monetise the company and pay out the creditors.

Meanwhile, some experts were of the opinion that liquidation would return less money to creditors than a reorganisation, China Evergrande argued the same in court, according to reports.

The group had been trying to submit a restructuring plan since 2022, without success. Its founder and once China’s richest man, Hui Ka Yan, is being investigated by the Chinese authorities.

Like many other property groups, the company had been in a serious crisis for some time because it is earning significantly less on the slumping property market.

The company is finding it more difficult to obtain state support and is no longer able to service its loans.

“The Evergrande case also shows that the era of large private property developers in China is coming to an end,’’ says Max Zenglein from the Merics China Institute in Berlin.

If Chan decides to wind up China Evergrande, this could also have an impact on other companies.

“One challenge for the government will be to prevent domino effects in the economy caused by major bankruptcies,’’ says Zenglein.

Continue Reading

Facebook

Trending