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Key negotiators at COP29 have reached a broad agreement on climate finance, potentially unlocking $300 billion annually for poorer nations, a significant increase from previous pledges. While optimism grew after a productive meeting, consensus among nearly 200 nations remains essential for finalizing the deal. A draft of the agreement is expected to be published for further discussion and approval.
Zimbabwe's electricity sector is facing significant challenges due to aging thermal plants and climate-induced droughts affecting hydropower generation. However, momentum is building in the utility-scale solar PV sector, with independent power producers like Centragrid successfully commissioning projects, including a 25 MW plant in Nyabira and a 35 MW plant by Zimplat. Upcoming projects promise to add over 450 MW of solar capacity, signaling a positive shift towards diversifying the country's energy mix.
The BJP's decisive victory in Maharashtra's Assembly polls is set to bolster its national influence, allowing the party to navigate parliamentary challenges with greater confidence. As the Winter session approaches, this electoral success provides a stronger political foundation for addressing issues like the ongoing Adani affair, despite the legal complexities involved.
Investors face challenges in betting on the typical stock market rally following a presidential election, as the S&P 500 is experiencing one of its best starts to a year. Historically, the index has shown a median return of 5% from Election Day to year-end, with small-cap stocks also benefiting from this trend.
Mexico is investing $2.7 billion to expand its main commercial port, aiming to more than double its capacity. This move reflects confidence in the future of global merchandise trade, despite threats of tariffs from the incoming Trump administration.
Dalal Street is set for a robust opening on November 25, following the BJP-led Mahayuti alliance's significant victory in the Maharashtra Assembly elections. Experts predict the Nifty could approach the 24,000-mark, with potential gains of 1 to 1.5 percent, reflecting heightened investor confidence and continuity in economic policies. The unexpected scale of the victory has further fueled optimism in the markets.
Wealthy nations at COP29 have raised their climate finance offer to $300 billion annually by 2035 to assist developing countries, following criticism of a previous $250 billion proposal. The negotiations, which have extended beyond the summit's scheduled end, highlight the ongoing divide between affluent countries and those facing severe climate impacts. Developing nations, including Brazil, are advocating for even higher funding levels to effectively combat climate change.
At the COP29 climate conference in Baku, a shortage of toilet paper and closed restaurants have compounded frustrations as negotiations falter. Several countries, including island states and least developed nations, have exited discussions amid disputes over financial aid, with demands for funding reaching up to $1,300 billion annually by 2035. The conference, originally set to conclude on Friday, is now expected to extend into Sunday as tensions rise over proposed aid increases.
Swiss Federal Railways anticipates a profit similar to the CHF267 million ($299 million) earned in 2023, driven by strong passenger demand, particularly in the latter half of 2024. However, the company faces a significant debt burden of CHF3 billion from the pandemic and requires an annual profit of around CHF500 million to meet investment needs and manage its debt effectively.
Brazil's government has implemented stricter spending controls, freezing expenditures at 19.3 billion reais ($3.33 billion) to adhere to this year's fiscal regulations. This move reflects the administration's commitment to maintaining fiscal discipline amid economic challenges.
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key nations reach climate finance agreement ahead of cop29 summit
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18:10 23.11.2024
zimbabwe's solar sector gains momentum with new utility-scale projects
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16:38 23.11.2024
BJP gains confidence in Parliament after Maharashtra electoral victory
15:55 23.11.2024
historical stock market trends challenged by strong early year performance
15:00 23.11.2024
Mexico invests in port expansion amid trade uncertainty with Trump administration
15:00 23.11.2024
Markets surge as BJP-led alliance victory boosts investor confidence in Maharashtra
14:42 23.11.2024
wealthy nations propose 300 billion climate fund to aid developing countries
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12:31 23.11.2024
climate conference in baku faces shortages and negotiating breakdowns
11:35 23.11.2024
Swiss Federal Railways anticipates stable profits amid ongoing debt challenges
11:24 23.11.2024
brazil government freezes spending to meet fiscal rules
11:18 23.11.2024
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