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Market news: Amazon (AMZN.O) founder Jeff Bezos sold $4.07 billion worth of stock.Conflict Situation 1. Israel – ① The Israeli parliament approved an extension of the emergency mobilization order for the armed forces. 2. Iran – ① Revolutionary Guard: An MQ-9 drone was intercepted and shot down by the Revolutionary Guards Aerospace Forces advanced air defense system over the Strait of Hormuz. ② Military advisor to Irans Supreme Leader: We possess missiles and have the capability for self-defense. Even if the United States sends warships into the Strait of Hormuz through unauthorized routes, we will strike them. US-Iran Negotiations 1. Iran – ① Iranian Foreign Ministry spokesman Bagae: (Regarding negotiations with the US) There are no plans to receive a (US) delegation or send an Iranian delegation "in recent days". 2. United States – ① Trump: The duplicitousness of the Iranian leadership is unbelievable. They requested a meeting, negotiations have begun, and more talks are scheduled for the coming days, proceeding in two phases. ③ US officials: There are currently no plans to hold new Iran negotiations. 3. Others – ① Sources: US and Iranian negotiators have no plans to meet in Islamabad for at least the next 24 hours. The date and location for the resumption of direct negotiations have not yet been finalized. ② Swiss Foreign Ministry: Switzerland is in contact with all relevant countries and is prepared to provide necessary assistance if both sides are willing. ③ Report: There is cautious optimism regarding the prospects for a breakthrough in the US-Iran negotiations; the mediators need some time to reach an agreement on the upcoming ceasefire declaration. ④ Sources: The Pakistani Interior Minister plans to visit Iran in the next day or two. Strait of Hormuz 1. United States—① US military: Continues maritime blockade of Iran, has changed the routes of 44 merchant ships. ② Trump: The conflict with Iran is progressing very well; the Strait of Hormuz is controlled by the US Navy. Nothing can enter Iran without US approval; Iran will not be allowed to collect passage fees in the Strait of Hormuz; the Strait of Hormuz may reopen no later than tomorrow. 2. Iran—① Iranian Foreign Ministry: Currently not in dialogue with the US; dialogue with Oman is focused on the Straits agreement. ② Iran: Has discussed opening new shipping routes in the Strait of Hormuz with Oman. ③ Senior Iranian official: Will not allow the US to open non-Iranian shipping routes in the Strait of Hormuz. ④ Iranian sources: Tehran rejected the latest US proposal, insisting that the Strait of Hormuz will not be fully reopened before the end of the war. Other developments: 1. Irans Economy Minister: An economic resilience plan of at least two years has been formulated. 2. Tanker activity surges at Saudi Yanbu port, Red Sea oil routes regain activity. 3. Gaza Peace Committee: Israeli forces will withdraw beyond the "Yellow Line" after Hamas completes its disarmament. 4. Israel states it will not withdraw from its existing positions in the Gaza Strip and will continue to thwart any threats to its citizens and soldiers. 5. Former Iranian Foreign Minister Javad Zarif warned that if Iran fails to reach a final agreement with the United States within the proposed 60-day negotiation period, it may face further economic difficulties, domestic unrest, or a new round of military strikes.Market news: Japanese IT services provider NTT Data is considering investing approximately $9 billion in Japans data center sector.August 4th - According to Nikkei, the Japanese governments proposal to reduce the food consumption tax to 1% starting next April for a period of two years was approved by the ruling partys main committee on Monday, taking a step closer to fulfilling its campaign promise, although the source of funding remains uncertain. Itsunori Onodera, chairman of the Tax System Committee, stated that the Liberal Democratic Partys Tax System and Social Security Committee has passed the draft. It is expected to be submitted to the partys highest decision-making body for deliberation as early as Wednesday. Prime Minister Sanae Takaichis government hopes to obtain cabinet approval at the beginning of the month and submit the relevant bill to the extraordinary session of the Diet in the autumn. The proposal aims to lower the tax rate from 8% to 1% starting in April. Starting in June, approximately 600 billion yen (about US$3.82 billion) in cash subsidies will be distributed annually to low- and middle-income families, with the amount fluctuating according to income levels. Takaichi has not yet specified the specific source of funding to fill the consumption tax revenue gap. The government plans to utilize non-tax revenue, tax revenue growth, and funds saved from reviewing tax incentives and subsidy policies.According to Nikkei: Japans ruling party is close to lowering the food tax rate from 8% to 1%.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.