Caribbean

Cobalt Holdings announced on Monday that it intends to raise $230,000,000 through a global offering and possibly list its shares at the London Stock Exchange. The company wants to give investors pure-play exposure in cobalt prices. The company has a contract to purchase cobalt worth $200 million from Glencore, the world's largest miner. It plans to use proceeds from its equity raising to complete the purchase of this metal, which is a key component of electric vehicle batteries. Glencore and Anchorage Structured Commodities Advisor, an investment firm, have agreed to invest approximately 20.5% in the shares being offered. A six-year...

Due to the frequent blackouts caused by the island's failing electricity grid, Maria Elena Veiga is a 60-year old Cuban woman who lives on the outskirts Havana. She uses charcoal as a fuel when cooking. "We chose to cook on charcoal because that is all we could do. Otherwise, we would have to work a lot to be able eat," said Veiga who lives in San Nicolas de Bari about 60 km northwest of the capital. Many Cubans are now experiencing power outages every day. Some areas, mostly in the countryside, go without electricity more than 20 hours per day....

Hurricane Rafael was rapidly getting steam on Tuesday afternoon as it downed toward the Cayman Islands in the Caribbean, and will likely become a. cyclone in the next few hours, according to the U.S.based. National Typhoon Center. Rafael was blowing optimal sustained winds of 70 miles per hour (113. kph) after skirting past western Jamaica around mid-day, the NHC. said in a weather report. Residents in Jamaica hunched down, with 4 emergency situation. shelters triggered, according to authorities. No deaths or. injuries were reported as bursts of heavy rain disposed on the. island. As Rafael chugged toward the Cayman Islands,...

The government of Suriname stated on Tuesday it would wait up until after next year's May basic election to choose whether to look for another program with the International Monetary Fund, as it weighs how to best use its new oil earnings. The small South American nation is hoping that an upcoming $ 10.5 billion oil and gas project run by France's. TotalEnergies and U.S. APA Corp will assist. improve an economy still recuperating from a heavy financial obligation problem. Financing Minister Stanley Raghoebarsing urged caution, stating. the federal government would not request another IMF program. instantly after the present...

The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not attest their accuracy. Headings Keir Starmer to fulfill Donald Trump in New York City Thames Water credit score slashed as utility races to prevent nationalisation Anglo manager states possible suitors need to pay 'right number' for group UK accounting watchdog tells audit companies to report methods from personal equity Chevron will leave John Hess off its board to win merger approval Overview UK Prime Minister Keir Starmer stated he will meet Donald Trump, but not U.S. Vice President Kamala Harris, during...

Oil major BP and U.S. shale producer EOG Resources are in conversations to jointly develop a natural gas field off the coast of Trinidad and Tobago, the British company stated. The field holds simply under 1 trillion cubic feet (tcf) of natural gas, but will eventually be tied back to another BP discovery, bringing the location to be developed closer to 1.5 tcf of gas, two individuals with knowledge of the task informed . Very first gas is anticipated in late 2026 and is prepared to feed Trinidad's flagship liquefied gas (LNG) job, Atlantic LNG, in which BP and Shell...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Wednesday: ** A consortium consisting of CVC Advisers and the Abu Dhabi Investment Authority stated it was considering a possible modified deal for Hargreaves Lansdown after the British financial investment platform's board turned down a buyout proposal it had made in April. ** French media and business conglomerate Lagardere said it is moving closer to a sale of its Paris Match magazine to luxury products huge LVMH, on an enterprise worth cost of 120 million euros ($ 130 million). ** Cross-border mergers between European banks are structurally...

Oil major BP has paused discussions with Venezuela on the advancement of a gas project on the maritime border with Trinidad and Tobago following the expiration of a U.S. license to Venezuela in April, a company representative stated on Wednesday. BP this year carried out settlements with Venezuela and Trinidad to develop the 1 trillion cubic feet (tcf). Manakin-Cocuina field that is shared by both nations. The British energy business plans to resume talks with. Venezuela as soon as it can legally do so, the representative stated. With the expiration of OFAC's basic license # 44 in April. 2024, BP...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday: ** BHP's quote for Anglo American underlines the growing appetite for energy transition metals like copper from miners who should become more aggressive to secure new projects or risk missing out, investors and mining CEOs said. ** Abu Dhabi National Oil Company (ADNOC) has actually obtained a 10%. stake in Galp's Location 4 concession in the. multi-billion-dollar natural gas job in the Rovuma basin in. Mozambique, it stated, its very first venture into the African nation. ** Admiral Acquisition will purchase North American. engineering and lab-testing...

Britain has fined over 400 overseas entities for stopping working to sign up to a brand-new register designed to shed light on illicit wealth concealed in UK home, although less than 3% of the penalties have actually been paid so far, new information programs. Business House, Britain's public corporate computer system registry, informed it had fined around 423 unregistered abroad entities a. total of 21.86 million pounds ($ 27.7 million) to date, using. powers it got last June to assist disrupt Britain's cosy. relationship with Russian money. Unaudited Companies Home information, reported here for the very first. time, reveals that...

Houthi militants in Yemen have actually stepped up attacks on vessels in the Red Sea, impacting a shipping route important to eastwest trade. Some shipping companies have actually responded by instructing vessels to sail around southern Africa instead, a longer and for that reason more pricey route. Below are actions taken by business (in alphabetical order): C.H. ROBINSON The international logistics group stated on Dec. 22 it had actually rerouted more than 25 vessels around Africa over the previous week, and that number was likely to grow. CMA CGM The French shipping group has suspended most Red Sea trips however...

Mexico's state oil business Pemex exported about 20,000 barrels each day (bpd) of crude and refined products to Cuba in the 2nd half of 2023 through a business it owns, according to a filing today to the U.S. Securities and Exchange Commission. Mexican President Andres Manuel Lopez Obrador has actually stated that his federal government would support Cuba however it can, which the Communist-run island suffers from an inhumane and unfair blockade. Considering that July 2023, Gasolinas Bienestar ... our wholly-owned subsidiary, acquires crude oil and petroleum items from specific of our affiliates for export to the Republic of Cuba,...

Environment irregularity and extreme weather occasions stalk at least 20 Latin American countries and increase the risk of appetite and poor nutrition in the region, according to a multiagency United Nations study published on Monday. WHY IT is necessary The economies of Latin America and the Caribbean are greatly dependent on farming, ranching, forestry and fishing, farming sectors directly linked to food security that are particularly vulnerable to dry spells, floods and storms. Scientists have actually cautioned that severe weather will intensify due to climate change. As the world's second-most exposed area, after Asia, Latin America could struggle to feed...

A group of environment susceptible countries is using a U.N. conference this week to push for a credit rankings overhaul, arguing rankings ought to show environment resilience steps, a consultant to the group informed Reuters. The U.N. meeting in New york city is the second of four to set objectives for a major finance conference in Spain next year, where presidents will aim to step up efforts to meet the world's. environment and sustainability targets. At the forefront of the talks are 39 so-called Small Island. Establishing States (SIDS) - consisting of Cuba, Haiti, Fiji and the. Maldives - that...

A group of climate vulnerable countries is utilizing a U.N. conference this week to push for a credit rankings overhaul, arguing rankings should reflect climate strength steps, an advisor to the group told Reuters. The U.N. meeting in New york city is the second of four to set goals for a significant finance conference in Spain next year, where heads of state will want to step up efforts to meet the world's. climate and sustainability targets. At the leading edge of the talks are 39 so-called Little Island. Developing States (SIDS) - consisting of Cuba, Haiti, Fiji and the. Maldives...

Barbados has actually completed the world's first 'debtforclimate' swap targeted at raising money to help the Caribbean island build strength in its water supply to the destructive impacts of climate modification. While climate-vulnerable countries need billions of dollars to adjust to the effects of environment change, getting cash flowing to projects from water sanitation to drought-resistant crops is challenging with lots of projects pricey to carry out and low in returns. Barbados' new offer is first debt-swap to raise money straight for environment adaptation and will free up around $125. million to go towards sewage treatment plant upgrades that. must...

The International Monetary Fund should offer 4% of its gold to assist provide financial obligation relief to low earnings nations devastated by climaterelated disasters, a. study stated as environment financing dominates early talks at the. COP29 summit. From the Caribbean to Africa, low earnings countries have. turned to the IMF in recent years for assistance in the face of. shocks like the COVID-19 pandemic, driving up payments to the. lending institution of last hope in subsequent years. Although the IMF has actually a center referred to as Catastrophe. Containment Relief Trust (CCRT), this just covers 30 poor. nations and has...

The International Court of Justice stated on Friday it would hold public hearings starting Dec. 2 in an advisory viewpoint case that may end up being a reference point in specifying nations' legal commitments to eliminate climate change. The ICJ, referred to as the World Court, is the United Nations' highest court for dealing with worldwide conflicts. In 2023, the U.N. General Assembly asked it for an official viewpoint on questions consisting of whether large states that add to greenhouse-gas emissions might be liable for damages caused to small island nations. While the ICJ's advisory viewpoints are not binding under...

Canada's The Metals Business plans to obtain a licence to extract minerals from the ocean floor before the end of this year, its chief executive informed , as nations collect in Jamaica to whip out new rules to reduce environmental dangers. The United Nations' Worldwide Seabed Authority (ISA) is currently meeting in Kingston, Jamaica to negotiate a draft mining code that will manage the collection of polymetallic. nodules and other deep sea deposits. Mediators have actually been racing to guarantee that official rules are. in location before mining activities start. Those rules are now. expected to be finished next year....

Charity Oxfam urged rich nations to improve costs on ending hunger ahead of a Group of Seven ( G7) annual summit set to start in Italy on Thursday, stating that simply 3% of G7 military costs could assist fix the global food and financial obligation crisis. The G7 - making up the United States, Japan, Canada, Germany, France, Italy and Britain - is set to meet in Italy this week where leaders will go over problems such as climate change, migration and heavy financial obligation loads in establishing nations. Determining that getting rid of global appetite would require $ 31.7...

The world's small island states plan to join forces to push for debt relief and more climate financial investment ahead of this year's COP29 climate summit, part of a 10year strategy to help save a few of them from extinction, a draft file seen revealed. The Small Island Establishing States (SIDS), a grouping of 39 states and 18 associate members, are recognised by the United Nations as particularly vulnerable to increasing water levels and more extreme weather as the world warms up, yet numerous bring a. heavy debt problem that hinders their ability to respond. Now, after years of tension...

The president of this decade's top for Small Island Developing States on Monday blasted empty and grossly insufficient climate pledges, stating wealthy nations have failed to satisfy responsibilities to restrict damages from carbon emissions. Small island states throughout the Pacific, Atlantic and Caribbean, with minimal emissions, are particularly vulnerable to recessions and rising temperature levels due to their exposure to natural catastrophes, high financial obligation and dependence on imports and tourism. The Atlantic hurricane season, starting in June is expected to be more active than usual due to near-record warm Atlantic Ocean temperature levels and cooler surface area water in...

The World Meteorological Company on Friday stated it expected an extremely active typhoon season and worried that early warnings were needed to save lives. High ocean heat content and the expected advancement of La Nina event are anticipated to fuel a really, very, really active cyclone season this year, Clare Nullis, WMO representative, told an instruction in Geneva. It only takes one landfalling typhoon to hold up years and years of socio-economic advancement. The U.S. National Oceanic and Atmosphere Administration ( NOAA) has actually forecast a variety of 17 to 25 named storms. The average is 14. Of those storms,...

A twister in northwest Haiti has injured a minimum of 50 people, ruined 200 homes and left more than 300 families homeless, according to the United Nations. Haitian weather authorities have actually alerted of flooding and landslides after Tuesday's storm on the Caribbean nation that is among the world's poorest and is susceptible to natural catastrophes. The U.N. Workplace for the Coordination of Humanitarian Affairs, which collaborates assistance, stated in a statement on Wednesday that the regional Red Cross and civil defense company were supplying aid and evaluating damages at the worst-hit area of Bassin Bleu, around 15 miles (25...