Latest News
-
New technology could help COP30 achieve its Amazon rainforest conservation goals
COP30 talks on climate change will focus on protecting forests Amazon is using technology to protect the environment A project that uses drones and AI to restore degraded forest Clar NiChonghaile & Rosalind Thacker The mangrove trees, which resemble upside-down tree branches and extend into the waters to provide habitat for crabs and fish, are under threat. Two years ago (coastal erosion destroyed the homes of 15 residents living here on the coast). "It was very strong," Patricia Farias Ribeiro said, a local resident. Researchers are responding by using sensors that cost little to nothing to measure air temperature, rainfall, and tide levels, to monitor the island and guide conservation efforts, as well as provide useful information to residents, such a optimal time to fish. Lisangela Cassiano, of the government park service ICMBio, said, "Over time you can identify the changes that are taking place and we will correlate this with the biodiversity data." Cassiano is responsible for the RESEX SOURE marine reserve, which is one of the three sites that ICMBio, in collaboration with the International Union for Conservation of Nature (Brazil), has chosen to install sensors developed at the Federal University of Para. According to a study published in Ocean and Coastal Research, the island has lost 150 meters of coast due to erosion during the last 16 years. This is partly caused by the sea level rise as a result of climate change. The host president, Luiz inacio Lula da Sola, has placed the protection of forests at the forefront of his agenda. The summit was used by him to launch a multilateral fund, the Tropical Forests forever Facility (TFFF), whose goal is to protect biomes of vital importance like the Amazon rainforest. Brazil can be proud of its progress. According to a report from the Brazilian space agency Inpe, deforestation fell by 11.08% between July 2025 and the same period last year, reaching the lowest level since 2014. Re.green, a Brazilian company specializing in ecological restoration that uses AI and technology to restore the Amazonian and Atlantic forest in Brazil, is already using new technologies. Thiago Piccolo, CEO of Thiago Group, aims to restore forests and generate revenue from carbon credits as well as sustainable timber. His company won the Earthshot Prize in 2025, an prestigious award for environmental protection created by Prince William of Britain. It received a grant of PS1 million ($1.31million) to further its work. Re.green was founded in 2021 and has since purchased and leased over 37,000 hectares (over 91,000 acres), which includes pastures for restoration, degraded forest and standing forests. Restoration is underway on 17,000 hectares (42,000acres) of land, and 12,000 hectares (30 acres) have been completed. Carbon credits are sold to major corporations such as Microsoft and Nestle. Picolo explained that "we restore areas that have been deforested decades or even centuries ago and the original ecosystem which was there before." DRONES IN AMAZON Re.green uses drones to survey difficult-to-access land. It then analyzes the data using AI, and other technologies, to determine which areas will yield the greatest returns in terms of biodiversity and climate, and for local communities. They have a conversion rate of just 1.5%. This means that they only close on two properties out of 100 they evaluate because of factors such as environmental viability or land prices. The only landowners they buy from are cattle ranchers and they do not use land owned by the community. Picolo said that technology can help them achieve scale by sorting through large datasets. Drones also boost efficiency by planting seeds or killing exotic grasses which degrade land. He said, "The holy-grail for us is to be able do this with high efficiency and be able access land that can't be accessed by traditional tractors or agricultural implements." Picolo stated that re.green projects create jobs for local communities in science and technology and encourage indirect entrepreneurship. This is done by allowing bee-producing companies to use land on which local people can harvest acaiberries and by allowing locals to harvest the berries. Helping Nature Recover Picolo said that the model of restoration used depends on local context. Some areas may require intensive intervention, such as planting more trees in areas that are severely degraded. Other areas will regenerate naturally. He said that understanding where to apply each model was fundamentally important. "If we don't invest enough and rely on nature to regenerate, you may end up with an inferior type of forest. We need to apply science and technology to our current practices to figure out how we can make forests grow faster. Making technology more accessible is one way to achieve this. Renan Peixoto Rosario is a researcher at the Federal University of Para who worked on the Marajo Island Project. He said that the technology system was created to be inexpensive, easy to maintain, and easily replicated in protected areas. He said that the system could be five to twenty-five times cheaper than commercially available solutions. This is due to its modular design, open-source hardware and 3D printing. He said that the goal was to make remote coastal communities able to afford monitoring. Context Links https://www.context.news/nature/scientists-in-brazil-starve-trees-of-water-to-test-amazons-limits https://www.context.news/nature/tipping-point-the-amazon-rainforests-vital-signs https://www.context.news/nature/q-and-a-bezos-earth-fund-ceo-on-how-ai-could-help-climate-and-nature
-
Lilly is the first pharmaceutical company to reach the trillion-dollar club in response to weight-loss boom
Eli Lilly's market value surpassed $1 trillion on Friday. It is the first pharmaceutical company to join the exclusive club of tech giants, and it highlights its growth as a weight loss powerhouse. The explosive growth in the weight loss drug market has been a major factor behind the more than 35% increase in the stock price of the company this year. Obesity treatments, once considered a niche, are now among the most lucrative segments of healthcare. Demand is steadily increasing. Novo Nordisk was the first to market, but Lilly’s drugs Mounjaro & Zepbound have grown in popularity & helped Lilly surpass its competitor in prescriptions. Lilly's obesity and diabetes business generated combined revenues of over $10.09 billion in the last reported quarter. This represents more than half its total revenue, which was $17.6 Billion. Kevin Gade is the chief operating officer of Lilly shareholder Bahl and Gaynor. He spoke ahead of this milestone. Wall Street predicts that the global weight-loss drugs market will be worth $150 billion in 2030. Lilly and Novo are expected to control the majority of the projected sales. Investors now focus on Lilly’s orforglipron oral obesity drug which is expected be approved in early 2019. Citi analysts wrote in a note published last week that the latest generation GLP-1 drugs are already a "sales phenomena" and orforglipron will benefit from "the gains made by its predecessors who were injectables." Lilly's recent agreement with the White House, which will lower prices for its weight loss drugs and also include planned investments in expanding drug production bodes well for its future growth. James Shin, Director of Biopharma Equity Analysis at Deutsche Bank said that Lilly has started to resemble "the Magnificent Seven", referring to tech giants such as Nvidia and Microsoft, which have fueled much of this year's market returns. Investors once regarded it as a member of this elite group, but after some disappointing earnings and headlines, it fell out of favor. He added that it now appears poised to return, perhaps even as a viable alternative for investors. Recent concerns and weakness of some AI stocks have also contributed to this. Analysts and investors will be watching to see if Lilly is able to maintain its current growth, as the prices of Mounjaro, Zepbound, and its diversified pipeline come under pressure. They'll also be looking at whether its dealmaking and scale-up plan can offset margin pressure. (Reporting and editing by Sriraj Kalluvila and Devika Syamnath in Bengaluru.
-
G20 envoys have agreed on a draft declaration of leaders without the US at the summit, sources claim
Four sources with knowledge of the situation said that G20 envoys had agreed on a draft declaration for leaders ahead of this weekend’s summit in Johannesburg, without U.S. involvement. The Trump administration has announced that it will not attend the summit due to disagreements with South Africa, the host country. Some analysts saw an opportunity in South Africa's hosting the G20 despite Trump's anti-multilateralism. No one has revealed the contents of the declaration. On Thursday, President Cyril Ramaphosa stated that South Africa is in talks with the United States about its possible participation The White House denied that this was the case, but it did happen. Trump rejected the agenda of the host nation for the summit on November 22-23, which included promoting solidarity and assisting developing nations to adapt to more severe weather disasters and transition to clean energy.
-
Lukoil's trading arm shrinks rapidly under Western sanctions
Five sources said that U.S. sanctions have dismantled what is left of Lukoil Litasco. Litasco was once Russia's largest oil trader, and a competitor to Swiss oil houses and major oil companies. Washington is trying to stop Moscow from funding its war in Ukraine. The new measures also target the state-owned Rosneft. They went into effect Friday. The measures have put Lukoil’s global operations in limbo - from oilfields across the Middle East, to fuel pumps and refining plants throughout Europe. Sources said that Litasco, cut off from the global system of finance, has fired most traders and operational employees, and offered a three-month severance package and bonuses. Now, oil trading is impossible without billions in credit. Only a few employees will be left to manage administrative tasks. Litasco or Lukoil didn't immediately respond to a comment request. LITASCO SHUTS DOWN GLOBAL OFFICES Three sources claim that traders of crude oil and other employees will be leaving Litasco's Swiss headquarters at Geneva by the week's end. A fourth source stated that the office will be closed completely by the end February. Two sources confirmed that the majority of the 20 traders and operational staff in the U.S. office in Houston left on Thursday. Few employees will remain to complete any remaining obligations with customers and suppliers, according to the sources. One source stated that employees in the UAE offices at Dubai have received notice, but will still be employed until February. Litasco, founded in 2000, was one of the largest oil trading companies in the world in its heyday. It traded barrels from third parties and moved oil for Lukoil assets all over the globe. A SHADOW FLEET COULD BE LIFELINE Litasco traded a little under 4 million barrels of crude oil and fuel per day in 2019. This was about 4% global consumption. The company competed against oil giants and trading companies alike, poaching their top talent. Adi Imsirovic, former head of oil trade at Gazprom Trading and consultant Surrey Clean Energy, says that the winding down of Litasco will further drive Russian oil traders underground. Moscow heavily relies on an aging shadow fleet of tankers for shipping crude oil despite sanctions. Imsirovic stated that it is possible to bounceback, but money, patience and time are required. Due to U.S. sanctions and EU sanctions, Russia was forced to redirect most of its oil to Asia. Litasco suffered a major blow in 2022, when the West clampeddown on Russia's petroleum industry due to Moscow's invasion in Ukraine. However, it has been trying to rebuild its operations by hiring U.S. traders as well as securing credit. "Litasco has to shut down due to the sanctions." Energy economist Philip Verleger said that Russian oil would get to refiners in some way, but traders needed access to dollars and to the global financial system. (Editing by Dmitry Zhdannikov & Louise Heavens).
-
Israeli forces kill 2 Palestinian teenagers in West Bank violence
Residents said that Israeli forces killed two Palestinian teens during an overnight raid in a town near Ramallah, in the Israeli-occupied West Bank. Violence is escalating in the area, with more and more deaths. According to the Palestinian Authority, which exercises limited autonomy in the West Bank, the Palestinian Authority's health ministry, forces shot Sami Ibrahim Mashaikha (16) and Amr Khaled al-Marboua (18) in Kfar-Aqab. Both died later from their injuries. According to WAFA, the Palestinian news agency, Israeli forces raided Kfar Aqab over night. They deployed forces on the streets and atop the buildings of the town before opening fire. Israel Police released a statement in which it stated that during an operation conducted in Kfar Aqab, its forces had opened fire on four individuals who, according to the police, posed a direct threat. Medical teams evacuated the individuals, according to police. According to the police, this operation was directed at "hostile elements" who were trying to cause violence and harm to security forces. During the operation, police were attacked by people throwing stones and using fireworks. Police reported that heavy gunfire was heard as well, but its source could not be identified. The West Bank is seeing increasing violence despite the ceasefire that was reached on October 10. In the last two years, Palestinians have been subjected to tighter military restrictions that limit their freedom of mobility. Israeli settlers are also increasingly attacking Palestinians. Residents in Huwara, Abu Falah and nearby communities reported that overnight, settlers set fire to property, burning it, near Nablus. Israeli soldiers have responded to reports that Israelis were throwing rocks at Palestinian vehicles in Huwara and igniting property. The military released a statement saying that Israeli soldiers searched the area and found no suspects. Benjamin Netanyahu, the Prime Minister, said that he will meet with cabinet members to ensure Israelis who are involved in attacks against Palestinians, are brought to trial. He called those responsible for such acts a "small extremist group". In recent months, videos widely shared on social networks showed dozens of settlers attacking Palestinian West Bank Communities, sometimes with wooden clubs, and other times guns. According to a count, Israeli forces have so far killed six Palestinians under 18 in the West Bank this month. The military reported that in one incident near Ramallah where the Palestinian Authority has its headquarters, two 16-year old youths hurled petrol-bombs onto a road for civilians. The claim could not be independently verified. The military released an unreliable nine-second video, which it claimed showed the teenagers throwing petrol bombs. The military refused to release the entire video or to answer questions regarding why the soldier opened fire instead of attempting to arrest the two teenagers. In a stabbing and car-ramming attack on Tuesday in the West Bank by Palestinian attackers, an Israeli was killed and three others were injured. The Israeli soldiers then shot and killed them. Netanyahu called the incident an attack by terrorists. No one has claimed responsibility for the attack. (Written by Alexander Cornwell, edited by Mark Heinrich.
-
Africa G20 hosts bids to become a mineral powerhouse
South Africa hosts the first African G20 Trade talks focus on valuable minerals Experts: Local processing is key to creating jobs By Kim Harrisberg Mineral experts and African leaders are in agreement with the protesters. The G20 summit of global leaders is an opportunity for the minerals, such as lithium and cobalt, to be used to the benefit of the continents where they can be found. On the sidelines of the protest, Lazola Kathi, campaign manager for Fossil Free South Africa's Fossil Ban initiative, said: "It is important that the G20 includes communities, so that proper conversations about the development in Africa can be held." What this can look like is job creation, skills transfer... our own energy sector", said Kati as protesters from Uganda to Zimbabwe sang and held placards. This can be a job creation program, a skills transfer program... or our own energy sector," Kati said as protesters from Uganda and Zimbabwe sang while holding placards. Africa has 30% of the critical minerals required for the switch from fossil fuels and clean technologies, as well the digital infrastructure needed for AI data centres. Africa has suffered from what is known as "the resource curse" for centuries. This paradox occurs when abundant natural resources cause conflict, corruption, and slower economic development. For the first time, the G20, a group of leaders who represent 80% the global economy, will be hosted in Africa. In 2023, the African Union became a member permanent. Experts believe this gives African governments greater leverage to demand global investment in local mineral processing for jobs as the demand surges. Maxwell Gomera said, "Think about it this way. Selling raw cobalt would be like exporting flour instead of bread" during an address at a Johannesburg conference this month. He added, "The world has entered a new race for Africa's mineral resources." "We have to make sure that the new green orders doesn't turn into the old colonial orders." INDUSTRIALISATION MESSENGE Deprose Manyena, Programme Director at Open Society Foundations, a human-rights funding organization, stated that the continent must negotiate as a group to leverage its bargaining power. Muchena said, "The African Union has become a G20 member, so even if South Africa leaves the stage, AU will continue to spread the industrialisation message." The Africa Green Minerals Strategy is a strategy that was endorsed by the African Union (AU) in 2025 to promote industrialisation of minerals across the continent. The document outlines responsible mining, the need for skill development, and how to attract investment in local mineral processing or beneficiation. According to World Bank research, more than a dozen African countries, including the Democratic Republic of Congo, Nigeria, and Namibia have either restricted or banned such exports to encourage beneficiation. The U.N. reports that Zambia and the DRC have created special economic zones for the manufacture of batteries using local minerals. The future of minerals that are critical to Africa is one of three themes of the South African G20 Summit. According to the International Energy Agency (IEA), a global energy organization, the continent only captures less that 5% of the total value created by energy technologies. Cyril Ramaphosa, the South African president, signed an important minerals agreement with the European Union that he described as "unprecedented" on Thursday. He stated that South Africa would increase its mineral processing in order to "move along the value chain". "RESOURCES ARE LIMITED" The G20 will be held in South Africa, but key players such as U.S. president Donald Trump and Chinese president Xi Jinping won't be attending. Both countries have a key interest, capital and investment in critical global minerals. Kati, from Fossil Free South Africa, said: "It's better to have Trump and his likes absent." She said, "This is the moment where we can define investment and development so that when they return we will be ready with a programme African-defined." Muchena, of OSF, says that mining is not the only element in Africa's development. He said that despite the G20's focus on critical minerals, mining is a short-term activity. He said: "We know that resources are finite, and at some point demand for essential minerals will decrease due to technologies which could replace this need. Diamonds have been replaced by synthetics in the same way." It was important to make the most of these financial benefits during the life spans of mines. Muchena estimates Africa will export close to $250 billion in revenue between 2023-2024 from its essential minerals. $1.6 trillion is expected over the next 25 years. "If these numbers are correct, then they should find their way into communities to transform them and provide energy directly," said he, referring to the 600,000,000 Africans who do not have reliable electricity. Raphael Bahebwa, a Congolese activist and bishop from the Congolese Solidarity Campaign, spoke at the protest about the mining abuses that are occurring in his country, where 70% of the cobalt found on the planet is mined. "Everyone who carries a cellphone carries the blood of our People," said Bahebwa in reference to the exploitative mine practices that lead to the cobalt used in the majority of cellphones.
-
Andy Home: Aluminum scrap is the new front in the war on critical minerals.
The competition for essential minerals has now reached the lowest part of the metal supply chain. Maros SEFCIOVIC, EU Trade chief, says that aluminium scrap is a strategic commodity. Over a million tons of aluminium scrap is exported from the EU every year. Sefcovic, the European Commission's Director of Communications and Public Affairs, described this as "a measure that is balanced" in order to keep more recyclable materials in Europe. The industry association European Aluminium blames the United States for the price differential created by the country's import duties, which is causing more European scraps to be exported to the U.S. The Aluminum Association, a U.S. trade group, is also concerned about the leakage of scrap metal. However, it is blaming China and calling for "smart export controls". The global scrap war has begun. A STRATEGIC PRODUCT Scrap metal is of strategic importance to European policymakers, as it lies at the core of the industrial policy for the EU, and represents the intersection where circularity intersects with decarbonisation, strategic autonomy, and the convergence between the three. Europe has set an ambitious target to recycle 25% of its critical mineral demand by 2030. Aluminum is already available. Metal is infinitely recyclable, and remelting only requires five percent the energy required to produce virgin metal. This means that carbon footprints are much smaller. Scrap has become a more important feedstock in recent years, as the high energy costs have forced many aluminium smelters to close. The annual primary aluminum production in the region has dropped by a quarter compared to 2011. European Aluminium estimates that around 15% of recycling furnaces in the EU are idle due to lack of feed. The exemption for aluminum scrap from U.S. tariffs on imports of primary metals and semi-manufactured goods was doubled by U.S. president Donald Trump to 50% in June. The association warns that the arbitrage window created by the U.S. President Donald Trump in June is increasing Europe's scrap leakage. The U.S. import data through July shows that shipments to the U.S. have increased, but only from a low base. Mexico and Canada are the two largest scrap suppliers to the U.S., with 53% and 30% of total imports. There is no doubt about the trend. Consultancy Project Blue calculated that European exports to non-EU countries of scrap aluminium rose at an average compound growth rate of 8,9% between 2018-2024. A GRADED Question It depends on the type of scrap you're using. Due to a decline in domestic recycling and dismantling capacity, Europe and the United States export low-grade end-of life scrap. China and India are the two biggest buyers of raw materials. However, China's crackdown in 2020 on low-grade imports created a loop whereby scrap is upgraded and then sent to Chinese recyclers. The European Commission's promise of no blanket export ban acknowledges that Europe is currently unable to process all grades of aluminum scrap that it produces. The names "Zorba", "Twitch", and other exotic scrap words like these may sound exotic, but they are nothing more than bales of mixed, shredded material that is usually from vehicles at the end of their lifecycle. It is difficult and costly to process them, which is why they are traded with countries that recycle them. Aluminum Association calls for immediate bans on exports of high-purity scrap, such as beverage cans. The United States has a constant trade deficit of one million tons of aluminium scrap with the rest the world. India is the largest recipient of U.S. scrap aluminium, followed by Thailand, Malaysia and China. CHINA SCRAP PIVOTS ITS ENERGY China is the West’s main competitor when it comes aluminium scrap. China's recyclable aluminum imports have increased at a rapid pace since the ban on "foreign waste" in 2020 was quickly reversed, under pressure from China’s recycling industry. The Chinese demand for aluminum scrap will continue to increase in the future. China's primary smelter industry is operating at close to Beijing mandated capacity limits, which means more scrap must be recycled. The official goal is to increase the aluminium recycling capacity in 2027 to 15 million tonnes per year. This will create a large potential market for recyclable materials from around the world. Both Europeans and Americans are at risk because China is preparing to dominate the secondary aluminum sector, just as it already has done in the primary. Where there's mudk, there's brass (and aluminum) The rise of scrap protectionism is a sign of how important metals recycling in the West has become. Recycling is a great way to reduce the West's dependence on imports. On both sides of Atlantic, it seems inevitable that some type of aluminium scrap will be subject to export restrictions. The Aluminum Association admits that part of the solution for the West is to make the public aware of the value of scrap. The United States will still have one of the lowest recycling rates for aluminium beverage cans in 2023. This is compared to a global average of 75%. This is a lot high-quality metal ready for milling that's being thrown out. The need for trade measures is inevitable, but the solution to scrap availability may be closer to home. Andy Home is a journalist. The opinions expressed in this column are Andy Home's. Open Interest (ROI), a data-driven, thought-provoking commentary on finance and markets. Follow ROI on LinkedIn (opens new tab) and X (opens new tab). (Editing by PhilippaFletcher)
-
UN force: Islamic State-linked militants killed 89 civilians during attacks in the east Congo
MONUSCO (the U.N. mission for peacekeeping in Central Africa) said that Islamic State-linked militants killed 89 civilians during multiple attacks on the eastern territory of the Democratic Republic of Congo, called Lubero, in recent days. MONUSCO released a statement that the attacks were carried out between November 13-19 by the Allied Democratic Forces. Among the 89 dead, at least 20 women as well as an unknown number of children died. It said that in one of the attacks the rebels attacked the health centre run by the Catholic Church, Byambwe. They killed at least 17 people, including women who were there for maternity care, and set alight four patient wards. The report said that the rebels also committed other crimes, including abductions and looting medical supplies. The statement read: "MONUSCO calls on the Congolese authorities, to immediately launch independent and credible investigations in order to identify and prosecute the perpetrators of these massacres." Last month, local officials reported that 19 civilians were killed in an overnight attack on the village of Mukondo by suspected ADF rebels. The ADF claimed responsibility in September for the deadliest attack in recent months, which claimed more than 60 lives at a funeral held in eastern Congo. The ADF began as a Ugandan rebel force, but is now based in the Congolese forests since the late 90s. It has also been recognised as an affiliate by the Islamic State. The ADF continues to attack despite the efforts of the Congolese army and Ugandan troops. M23 rebels, backed by Rwanda, control other parts of North Kivu Province. They have made a rapid advance in the past year. The United States, Qatar and other mediators are trying to broker a peace in this conflict. Washington hopes that it will allow Western investors in the mining industry. (Reporting and writing by Congo Newsroom; Editing, Rob Corey-Boulet and William Maclean).
Gold prices fall as traders increase bets on December rate cuts
After falling more than 1% in the previous session, gold prices recovered on Friday as traders increased bets that interest rates will fall by December following Fed comments.
As of 0952 am, spot gold had fallen 0.1%, to $4,071.74 an ounce. After falling by more than 1% in the earlier session, ET (1452 GMT) was set to be the next trading day. Bullion will lose 0.2% per week.
U.S. Gold Futures for December Delivery rose by 0.2%, to $4.068.50 an ounce.
John Williams, the New York Fed president, said on Friday that the U.S. Central Bank could still reduce interest rates in near-term without jeopardizing the inflation target.
Jim Wyckoff said that the comments were "certainly supportive" and gave gold bulls some good news early on today.
The traders now expect a 70% probability of a Fed rate cut during the next meeting. This is up from 46% earlier that day.
The delayed jobs report revealed a mixed picture of the labor market. Nonfarm payrolls rose by 119,000, far above expectations for a 50,000 increase, while unemployment reached a four-year peak.
In low-interest rate environments, gold, which is a non-yielding investment, does well.
Lorie Logan, the Dallas Federal Reserve president, called for the rate to be held "for a while."
The traders are also closely watching the U.S. Stock Markets. "If the stock market rallies today, this will probably put downward pressure on gold due to the increased risk appetite on the marketplace," Wyckoff said.
Wall Street's major indexes rose on Friday, as renewed hopes of a rate cut in the United States boosted tech stocks after a rout last session.
The physical gold market in major Asian markets has remained low this week due to the volatility of rates. This deterred buyers from purchasing.
The spot price of silver XAG= dropped 2.1%, to $49.54 an ounce. Platinum XPT= increased 0.1%, to $1.513.70. Palladium XPD= declined 1.3%, to $1.360.63. (Reporting and editing by Shreya Biwas in Bengaluru)
(source: Reuters)