Latest News
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Report: Extreme heat in Africa's slums affects sleep, health and work
By Kim Harrisberg The report by the International Institute for Environment and Development stated that a growing crisis in overheated cities is affecting the health and livelihoods for more than 1 billion informal settlement dwellers in the Global South. This number will increase sevenfold by 2050. In a recent statement, IIED's principal researcher Anna Walnycki stated that extreme weather conditions can disrupt productivity and children's education and cause health issues. The climate crisis is affecting people in the poorest countries the most. IIED, in collaboration with Slum Dwellers international, a global movement for slum-dwellers, conducted a survey of more than 1,000 people living in three informal settlements of Africa to assess the effects of extreme heat. Researchers found that heat-related workdays were lost by 25% of respondents in Mathare, Kenya, Kombo, Tanzania, and Kariba, Zimbabwe. 40% reported being unable to sleep properly. Some people reported temperatures inside their homes of up to 40 degrees Celsius. In all three locations, over a third said that they spent more money during extreme heat to deal with the temperatures. This is roughly one-sixth of their monthly income. BETTER HEAT DATA The research showed that unplanned settlements are characterized by a lack of trees and greenery, as well as a high density of buildings constructed from inferior materials. This, in turn, increases the heat levels compared to areas within formal cities. Wealthier residents can invest in better air conditioning, building materials or move to areas with lower temperatures and more trees. The International Journal of Environment Research and Public Health published a study that found the poorest residents are the ones who suffer the most from rising temperatures. The survey was conducted by Mussa Raido who is a researcher for the Centre 'for Community Initiatives, Tanzania. The report concluded that, despite the fact that research has increased, there are still major gaps regarding the impact of rising temperatures on the urban poor. The report emphasizes the need for extensive and urgent data collection. It also calls for early heat warning systems and low-cost improvements to buildings that increase ventilation. And it recommends planting trees in high-density areas, which will provide shade and food security.
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EU countries approve 2040 climate goal for 90% reduction in emissions
The European Union gave the 'final' approval to a new target on climate change to reduce greenhouse gas emissions by 90% by 2040. This is despite political opposition. Last year, governments and EU legislators reached a political compromise that was fought hard. The new climate target is more ambitious than the commitments made by most major economies to reduce emissions, including China. In order to achieve the goal, it will be necessary for European industry to reduce emissions by 85% compared with 1990 levels. The EU will compensate developing countries through carbon credits so that they can?cut emission on Europe's behalf, to reach 90 percent. Last year, the EU reached a consensus on the goal after a tussle between Spain and other countries who argued that the worsening of droughts and fires justified more ambitious targets. Poland and Italy argued for softer emissions reductions, saying their struggling industries could not afford to make the initial investments. At a Brussels meeting, a majority of EU ministers signed off on the legally binding target. Czech Republic, Slovakia and Poland were against it. Climate target will now be incorporated into EU law. In the future, as part of this agreement, the EU may also use international carbon credits to reduce emissions by a further 5%. This could further ease the domestic effort required. This deal will also delay the launch of an EU carbon market, which is politically sensitive, by one year to 2028. The move was made to win over countries that are sceptical about the climate goal. The goal, designed to keep Europe's pledge to achieve net-zero emission by?2050 on track, falls short the 90% domestic emmissions reduction recommended by the EU climate?science advisors. The goal is weaker than the original Brussels plan, which reflects disagreements between EU governments about the cost and speed of implementing their green agenda. (Reporting and editing by Charlotte Van Campenhout, Tomaszjanowski and Kate Abnett)
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Sources say Indian refiners are tapping Russian oil that is floating offshore.
Two sources who have direct knowledge of this matter confirmed on Thursday that Indian refiners are now using 'Russian oil' aboard ships?floating just off the coast of India to?make up for? the Middle Eastern crude lost due to the Iran War. India is susceptible to energy supply disruptions. Crude stocks only cover about 25 days' worth of demand. India was the largest buyer of Russian seaborne crude oil after Moscow's invasion of Ukraine in 2022. However, its refiners began to reduce their purchases starting in January, helping New Delhi avoid tariffs from Washington. According to a shipping resource, on Thursday, the Suezmax tanker Odune, carrying approximately a million barrels Russian oil, berthed in eastern Paradip port to be delivered to Indian Oil Corp., a state-owned refiner. According to the source, the vessel was floating in Indian waters. Source: IOC is also expected to receive 700,000 barrels Russian oil, loaded on the Spring Fortune, at Vadinar Port in Western India on Saturday. Indian Oil is accelerating its purchases of Russian oil including that which is loaded onto vessels cruising around India, according to a source. Indian Oil did?not immediately respond to a comment request. An 'industry source who has direct knowledge of Russian trading told us that 9.5 million barrels are floating in Indian waters, and could arrive within weeks. Source at another 'Indian refiner' said his company was also looking into buying Russian oil that is floating near India. Sumit Ritolia is an analyst with the ship-tracking firm Kpler. Kpler tracking indicates that about 30 million barrels (including volumes in floating storage) of Russian oil are available and loaded onto vessels in the Indian Ocean, Arabian Sea and Singapore Strait. Some of these vessels still haven't declared their destinations. Ritolia stated that if Indian refiners don't take action, these vessels could start moving towards China within a few days.
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Documents say that China and the US pressurize Ghana to stop gold royalty increases
According to three sources who are familiar with the issue and a letter by an industry group, China, the U.S., and other Western governments have launched an unusually coordinated effort to convince Ghana to stop a gold royalty hike that they claim could hurt some of the world's largest miners. Africa's biggest gold producer is looking to replace its fixed royalty of 5% with a sliding rate between 5% and 12 % linked to gold prices. This is part of a bid to increase revenue as gold reaches successive historical highs. The upper bands in the new regime could come into effect as early as next Monday if they are not amended or withdrawn. This would make Ghana the most expensive country on the continent and squeeze margins. Ghana has agreed that it will reduce an existing levied to help pass the reform. However, mining companies have said that the proposed scale is too aggressive, and they have therefore submitted counter-rates. DIPLOMATIC SUBSTANCE Along with the U.S., and Chinese, diplomatic missions from UK, Canada and Australia, as well as South?Africa, have intervened. This is what three senior executives in the industry described an unusually high level response to a tax proposal. A senior industry source stated, "This is the first time that I have seen the diplomatic community involved on this scale." Two people who were present at the meeting confirmed that representatives from the missions had met Ghana's Minister of Lands and Natural Resources this month. They presented a document highlighting their concerns. The group wants to continue discussions with the finance ministry. One executive stated that "the heads of missions expressed their concern about the challenging operating environment for the mines." The sensitivity of this issue led to all the sources requesting anonymity. The UK, Canadian, Australian High Commissions, and the U.S. South African, and Chinese embassies did not immediately respond when asked for comment. MINING CEOS VOICE CONCERNS The CEOs of global mining companies have also privately protested. Newmont, AngloGold Ashanti, Gold 'Fields and Perseus leaders wrote to or spoke directly with the Lands Minister in December and January. Chinese mines including Zijin Gold, Chifeng Gold and Shandong Gold have lodged formal protests. The Association of China-Ghana Mining sent a letter to Beijing's Ambassador warning that the proposal could threaten the viability of Zijin’s Akyem and Chifeng’s Wassa gold mines. The senior industry source said, "The issue of royalty has united companies in recent years like nothing else." Requests for comments from the mining companies were not immediately answered. Ghana's finance and lands ministries did not respond immediately to comments. Ghana-linked producers posted strong results for 2025. Newmont earned over $7?billion. Gold Fields doubled profits, AngloGold Ashanti tripled them, and Perseus made $421.7 million, an increase of 16% on the previous year. Maxwell Akalaare Adombila, Veronica Brown and Rob Corey-Boulet edited the story.
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The Kurdish struggle to land and rights
Sources say that Iranian Kurdish militias are consulting with the U.S. on whether and how to attack Iran's Security Forces in Western Iran as the U.S., Israel and other countries continue their military campaign against Tehran. Kurds were left stateless when the Ottoman Empire collapsed and the boundaries of the modern Middle East emerged. History In the 1890s, when the Ottoman empire was in its final days, a Kurdish nationalist movement erupted. In 1920, the Treaty of Sevres - which imposed a colonial division of Turkey following World War One - promised independence to Kurdish people. Three years later Mustafa Kemal Ataturk, the Turkish leader, rendered this accord obsolete when he?won? the Turkish War of Independence. The Treaty of Lausanne was ratified in 1925 and divided the Kurds between the new Middle Eastern nations. They speak a dialect related to Farsi, and live in a mountainous area that straddles the border of Armenia, Iraq and Syria. Kurds are mainly Sunni Muslims. Kurds make up about 10% of Syria's population. The Baathist regime of the deposed Bashar al Assad stripped thousands of Kurdish citizens of their citizenship rights and banned their language. As Syria descended in civil war in 2011, and Assad concentrated on trying to crush Sunni Arabs rebels in western Syria the Syrian Kurdish PYD Group and an affiliated militia, YPG, established themselves in Kurdish majority areas of the north. As the YPG partnered with the United States to fight Islamic State, the area under Kurdish rule expanded. After Assad was ousted by islamist rebels led Sharaa, in 2024, 'the Kurdish groups sought to preserve their autonomy. They were concerned that the new rulers of Damascus aimed to dominate the newly established order. Washington's close relationship with Sharaa has weakened their position, as it has echoed his call for the Kurds in Syria to be integrated. Sharaa has pledged to protect all Syrian groups' rights. On January 16, she issued a Decree recognizing Kurdish alongside Arabic as a National Language and allowing it to be taught at schools. Since then, the SDF has been forced to retreat into?Kurdish majority areas. The PYD has been heavily influenced in its ideology by the Kurdistan Workers Party, which is active for many years in Turkey. Turkey Kurds make up about 20% of Turkey's population, and are primarily located in the south-east. PKK fought against the state from 1984 to 1990, initially aiming for a separate state, but then settling on autonomy and more rights for Kurds. In the conflict, more than 40,000 people were killed. Since 1999, Turkey has been holding PKK leader Abdullah Ocalan behind bars. Early in 2025, Turkey began a peace process, and Ocalan urged the PKK armies to do so. Since then, the process has slowed down. During the 2000s, President Tayyip Erdoan removed the restrictions on the use of the Kurdish Language. The United States of America, the European Union, and Turkey all classify the PKK terrorist organization. The Turkish military has frequently struck targets in Iraqi Kurdish Region near the PKK stronghold of the Qandil Mountains. The Turkish military has sent troops to northern Syria on several occasions in order to combat the YPG which Ankara considers an extension of PKK. Turkish officials have stated that recent events in Syria may kick-start the peace processes in Turkey. Kurds make up 15-20% of the total population and are mainly found in three mountainous provinces located north that form Iraqi Kurdistan. Saddam Hussein, Iraq's authoritarian leader, targeted Iraqi Kurds in the late 1980s using chemical gas. He also razed Kurdish hamlets and forced thousands into camps. Kurdish parties took control of Iraqi Kurdistan after Saddam Hussein's forces were pushed out of the north during the first Gulf War, in 1991. Since 2003, when the U.S. led invasion toppled Saddam, Iraq's central Government has recognized?autonomy in Kurdistan. This region is led by an?administrative body with a budget allocated from Baghdad according to a formula for dividing up oil revenue. Kurdish fighters took advantage of the collapse of central authorities in northern Iraq when Islamic State militants invaded much of it in 2014. They also took control of Kirkuk, which they consider to be their ancient capital. Baghdad, and other regional powers, were furious when the Kurds of Iraq held an independence referendum in September 2017. Baghdad retook Kirkuk, and other disputed territories after the vote. The Kurdish Regional Government and the Centre have improved their relations, but tensions still remain regarding oil exports and revenue sharing. Kurds make up about 10% of the total population. Rights groups claim that Kurds and other ethnic and religious minorities are discriminated against by the ruling clerical elite. The Islamic Republic has denied persecuting Kurds. Three main Iranian Kurdish Separatist factions are based in Iraqi Kurdistan. Iran demanded that Iraqi authorities hand over dissident Kurdish separatists who are stationed in the country and close their bases. The Kurdish region of Iran has been the focal point for unrest since protests against the government began late December 2025. These protests led to a death toll of thousands in January 2026. During the unrest, reports claimed that armed Kurdish rebel groups attempted to cross into Iran from Iraq. Kurdish regions were also a major focal point during the previous wave of unrest, which occurred in 2022. The protests were sparked by the death of an Iranian Kurdish woman in custody. (Editing by Tom Perry and Peter Graff)
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Australian fertiliser company faces delays in the delivery of feedstock due to Iran war
Wesfarmers, the chemical and fertiliser division within the 'Australian conglomerate Wesfarmers, said on Thursday that it was possible some shipments of ammonium-phosphate cropping compound and urea could be delayed primarily due to?the Iran war. CSBP stated that it was "urgently assessing" its inventory levels and other supply options. The escalating conflict in the Middle East is causing shipping routes to be severely disrupted, which could limit supplies for 'key Asian importers as they prepare their cereal planting season. The company, based in Perth, is one of Australia's largest fertiliser suppliers. Western Australia has a strong agricultural sector and exports wheat. A company statement stated that the situation in 'the Persian Gulf' is rapidly evolving and CSBP?is working closely with its suppliers in the area to understand the impact of fertiliser movement from Middle Eastern ports through the Strait of Hormuz. The company said it will temporarily suspend the import of additional?fertilisers such as phosphates and ammonium-phosphate cropping compound, but that they would continue to source their natural gas from the large reserves in Western Australia. According to the statement that was provided, "We will continue to update customers on these matters as we become more aware of them over the next few weeks." When March is listed as the date of collection in their contract, the company will supply fertiliser to growers during this month. However, "contracts that are scheduled for April or later can't be brought forward at this time." Wesfarmers owns Australia's largest hardware retailer Bunnings, as well as discount retailer Kmart. Helen Clark is the reporter, and Louise Heavens is the editor.
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Galderma, a skin care company, is not expecting to be hit by the Mideast turmoil
CEO Flemming Ornskov stated on Thursday that 'Galderma continues to see the Middle East as a 'attractive market. The conflict in the region is unlikely to have any major impact on the Swiss skincare firm because it only represents a small part of their business. Ornskov stated that less than 2% (of Galderma's) business is currently located in the Middle East. However, the company has made efforts to expand in this region, highlighting its recent entry into Saudi Arabia, and expansion in United Arab Emirates. He said that Galderma was pursuing its plans in the region, citing that there were many opportunities for growth both in skincare products and in injectable 'aesthetics. Ornskov said that "of course, there may have been a little setback with what is going on now," adding that Ornskov's company was devoted to the well-being of its employees and customers. He said, "But when it's all said and done and further down the road, I am absolutely certain that we will continue to expand our business with renewed energy." Ornskov spoke after the shares of the company jumped on Thursday, following its announcement that it had grown 17.7% in net sales for the full year and given a positive outlook for 2026. Galderma's CEO said that while "everyone will be affected" by the rise in oil prices due to the Middle East conflict, "it is not something?that we will feel immediately." "What's more important to us, is to also watch what's happening in the?"tariff situation," said Galderma, noting that he was watching how events were?playing out regarding possible refunds to businesses hit by U.S. Tariffs. He claimed that Galderma hadn't filed a suit for a refund. Dave Graham reported the story. (Editing by Madeline Chambers, Mark Potter and Mark Potter.)
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Sources say that China has increased iron ore restrictions on BHP as negotiations drag on.
People?with a knowledge of the matter said that China's state run iron ore buyer has increased restrictions on buying new seaborne ore cargoes?from?BHP, as a contract dispute that has been ongoing for months drags on. China 'Mineral -Resources?Group (CMRG) has told traders to purchase fewer seaborne shipments of BHP flagship products, Mac fines, Newmanfines and Newman lumps. Two people, who spoke anonymously due to the sensitive nature of the issue, confirmed this. The restrictions that were widely reported in September and November do not apply to these products. BHP declined comment while CMRG didn't respond immediately to an email request for comment. Many traders reported that sales of BHP cargoes have been unusually low in comparison to last week. They attributed this to the 'growing fear on the market regarding a more aggressive approach by the state-run purchaser. CMRG was set up in the year 2022 with the aim of centralising iron ore purchasing and gaining better terms from miner. In September, it banned domestic steel mills from buying BHP’s Jimblebar fines?, a form of iron ore. As?negotiations continued, the government extended its ban to Jinbao in November. Two iron ore traders reported to? They were ordered by CMRG, to obtain permission before purchasing any BHP seaborne goods. Since then, they have?applied and received no reply. Two separate sources familiar with the situation report that stocks of 'Jimblebar' cargoes had accumulated at major Chinese ports, reaching a record high of 9.8 million tonnes by 'February 26. This is a 457% increase from late September. Bloomberg broke the story first. (Reporting and editing by Tomasz Janowski)
Asia refineries reduce oil spills in the Middle East
The U.S. and Israel war against Iran has caused oil exports to Asia to be disrupted, forcing Asian refineries to 'cut runs' and petrochemical firms to declare force majeure.
The latest news and developments are listed below:
Zhejiang ?Petrochemical Corp, a major Chinese ?refiner ?backed by Saudi Aramco, has shut a 200,000-barrel-per-day unit, bringing forward maintenance in response to the Middle East conflict's impact on crude supply.
Two industry sources said that FREP (Fujian Refining and Petrochemical Co.), a Chinese refiner backed up by Aramco and operating its 80,000 bpd unit - the company's smallest – had shut down its unit for an unknown period of time.
The independent Chinese refiners have enough supply on hand, however, to weather any disruptions caused by the Iran conflict in the near term. This is bolstered recently record purchases of Iranian and Russian crude, as well as robust government stockpiling.
People familiar with the matter have said that China has also asked companies to stop signing new contracts for exporting?refined gasoline and to try to cancel any shipments already made.
India's Mangalore ?Refinery and Petrochemicals has shut a crude unit and some secondary units at its 300,000-barrel-per-day refinery due to oil shortage, sources said.
SOUTH KOREAN
According to a source familiar with the situation and a letter from the company, the South Korean petrochemical firm Yeochun NCC cut its production and declared force majeure over its supply because it was unable to get naphtha due to the blockade of the Strait of Hormuz.
SINGAPORE
According to a letter that was reviewed by three people who have knowledge of the situation, the Middle East conflict has caused disruptions in maritime transportation and supply chains.
INDONESIA
In a press release reviewed by the, Chandra Asri, an Indonesian petrochemical manufacturer declared force majeure on all its contracts due to disruptions in its raw material supply caused by the Middle East conflict.
VIETNAM
Binh Son Refining and Petrochemical, a Vietnamese company that specializes in refining and petrochemicals, has asked the government to limit crude oil exports to the Dung Quat Refinery until the end of this year's third quarter. This is to ensure the national security. (Reporting and editing by Nivedita Battacharjee; Ruth Chai)
(source: Reuters)