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Straits Times
a day ago
- Business
- Straits Times
Brazil government challenges Congress' reversal of tax hike, escalating tensions
Brazil's President Luiz Inacio Lula da Silva walks on stage after giving a speech during the Blue Economy and Finance Forum (BEFF) at the Grimaldi Forum in Monaco, June 8, 2025. REUTERS/Manon Cruz/Pool/ File Photo BRASILIA - Brazil's government filed a lawsuit with the Supreme Court on Tuesday challenging Congress' decision to overturn a tax hike on financial transactions, heating up tensions between the branches of power as the administration seeks ways to meet fiscal goals. The government believes that lawmakers overstepped their constitutional powers and created legal uncertainty by reversing President Luiz Inacio Lula da Silva's decree raising the so-called IOF tax, Solicitor General Jorge Messias told reporters. Lula hiked the tax levied on certain credit, foreign-exchange and private pension plan operations in May as a way to boost revenue and limit spending freezes needed to comply with the government's fiscal framework. The move, however, sparked immediate backlash from lawmakers, who said they would not approve the tax hikes and last week dealt the government a major blow by ultimately nixing the decree. "If we hadn't made this move, we would be allowing interference from one branch of government into another," Messias said about the lawsuit. "Our approach is strictly legal, not political." The government had estimated that the IOF hike, already scaled back from an initial proposal for even higher rates, would generate an additional 12 billion reais ($2.20 billion) in revenue this year. Deputy Finance Minister Dario Durigan said earlier on Tuesday that the measure, along with some other fiscal proposals put forward by the government, would ensure compliance with the fiscal target this year and next. Latin America's largest economy aims to eliminate its primary deficit in 2025 and deliver a primary surplus of 0.25% of gross domestic product in 2026, though economists have voiced skepticism about its ability to reach those targets. "The reversal of the decree ends up affecting the economic and tax policy under responsibility of the head of the executive branch, and leads to a violation of the principle of separation of powers," Messias said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Time Magazine
24-06-2025
- Business
- Time Magazine
10 Steps Needed for Ocean Action Now
The recent United Nations Ocean Conference in Nice, France, which we joined along with leaders from around the world, brought notable accomplishments in its mission to address the mounting threats to the seas, from pledges to reduce the flow of toxins into the water to new financing commitments for ocean economies. But as Peter Thomson, the UN's Special Envoy for the Ocean, noted as the event closed: 'It's not so much what happens at the conference, it is what happens afterwards.' So what needs to happen now? The good news is that we have many of the tools. Science and decades of experience have shown us what works. We know how to restore coral reefs, manage fisheries to produce more food and income, and stop fertilizers and untreated sewage from running into the sea. This isn't a crisis of complexity. It's a crisis of execution. What's missing is broad participation and a focus on clear, immediate, actionable steps. Heads of state, ministers, NGOs, and scientists showed up in force in Nice. But to translate ambitious pledges into durable results, we also need more business leaders at the table. This is an ocean planet. And every company—whether it realizes it or not—depends on the biodiversity, food systems, and shipping routes the ocean sustains. If the ocean fails, we all fail. That's why the private sector must play a role—not just as funders or advocates, but as partners and engines of solutions that scale. We need more public-private alliances that can help turn proven ocean solutions into real-world outcomes. We've both seen this work through organizations like Friends of Ocean Action, which convenes leaders from across sectors to accelerate ocean solutions and track progress on global goals, and the Florida Keys Environmental Coalition, which works on the ground to protect marine ecosystems and improve water quality across one of America's most vulnerable coastal regions. We're also inspired by a rising generation of ecopreneurs aiming to fix ocean problems while generating profit. At the Blue Economy and Finance Forum in Monaco, held ahead of the UN Ocean Conference, public and private investors pledged $10 billion in new "blue finance" to further scale the rapidly growing ocean economy. The 1000 Ocean Startups coalition, a global network of incubators, accelerators and investors, has already raised more than $4 billion in capital and is halfway to its goal of funding 1,000 ocean ventures tackling marine challenges like seaweed farming, microplastic filtration and wind-powered transport. Previously, we outlined a straightforward blueprint for global coral reef recovery. These same principles apply across the broader marine agenda. We believe progress can be made between now and the next UN Ocean Conference scheduled for 2028 by focusing on the following 10 steps. Strengthen U.S. fisheries by ending industrial-scale reduction fishing and midwater trawling for forage fishThese are small fish that feed bigger fish and whole ocean ecosystems. A handful of industrial operations are chiseling away at the base of the food chains for our U.S. coastal economy by scooping up hundreds of thousands of tons of these fish —not for food, but to be ground up into meal and oil, a large proportion which is then exported. Ending these practices and managing forage fish at ecologically sound levels will protect food chains, support fishermen, and improve U.S. marine resilience. Solve the Tijuana River years, billions of gallons of raw sewage and industrial waste from Mexico have poured into American waters off San Diego, harming ecosystems and undermining public health. The solutions, including the installation of floodgates to prevent sewage overflow and stronger oversight of Mexican treatment plants, are well understood. This is a test of will, not capacity. Make ocean polluters old notion that 'dilution is the solution to pollution' no longer holds in an era where industrial and pharmaceutical waste is outpacing our ability to detect it. We need a new approach—one that stops pollutants from entering the ocean in the first place and makes transparent who is discharging what, and where. That means clear rules, public reporting, and a robust 'polluter pays' principle to shift the burden onto those doing the damage. Adopt a new and balanced approach to U.S. marine protected treasure our National Parks on land. There is also a place for parks in the busy, working ocean. Well-designed ocean parks can support tourism, expand the U.S. geopolitical presence, and increase fish stocks. But the real work for a marine protected area begins after they are created. We must continue to invest and care for these parks. In Papahānaumokuākea, American's largest ocean park, that has meant public-private partnerships that ensure access to its sacred places, and funding clean up efforts to remove almost a million pounds of hazardous plastic pollution and debris from its coral reefs. Extend programs from the Trump administration's marine debris cleanups and reductions of plastic pollution and other debris have delivered concrete gains for U.S. fisheries, wildlife, and communities that depend on clean beaches and coastlines. We should reauthorize that mandate and build on and scale those successes. Restore America's coastal efforts are needed for our coastal ecosystems, such as mangroves, seagrass beds, coral reefs, and salt marshes, as natural hurricane defenses. That includes the Mangrove Breakthrough supported by Salesforce. They are among the most cost-effective ways to protect ocean-front infrastructure from increasingly severe storms. Shrink the Gulf dead runoff is creating massive low-oxygen zones that suffocate Gulf fisheries. Supporting farmers to adopt proven techniques to reduce and soak up pollution before it gets into rivers and oceans is a win for farmers and fishermen alike. Leverage American innovation to sidestep the need to mine our encouraging entrepreneurship and tech advancement we can reduce our reliance on foreign critical minerals and reserve these materials for key defense applications. This includes supporting U.S. national lab programs and private sector innovation to scale up use of next-generation battery technologies built with more readily available materials like iron instead of cobalt. Sustained success here would reduce or eliminate the need to begin mining for these minerals in the ocean—an activity which would negatively impact US fisheries, could introduce toxins into our seafood supply, and involve costly spending by the US government. Address the Sargassum seaweed blooms now plague Florida, Texas, Puerto Rico, and the U.S. Caribbean. Coordinated cleanup and reduction of nutrient runoff near West Africa and the Amazon—significant Sargassum points of origin—are some of the important steps needed to contain this growing threat. Stop the sewage killing coral reefs in U.S. from Florida to Hawai'i are collapsing in part because we have allowed leaking septic systems, outdated infrastructure, and uncontrolled runoff to poison the very ecosystems that sustain tourism, fisheries, and coastal communities. Across all of these fronts, we believe in a core principle: focus on what's achievable and measurable. With smart, common-sense steps, we can secure thriving oceans that sustain American jobs, coastal communities, and national security—while restoring life to some of the planet's most vital and magnificent ecosystems.
Straits Times
13-06-2025
- Politics
- Straits Times
Brazil's Lula joins growing chorus of calls to overhaul Haiti security mission
FILE PHOTO: People walk through a makeshift shelter at the Church of Jesus Christ of Latter-Day Saints, which houses individuals displaced by gang violence, in Port-au-Prince, Haiti June 12, 2025. REUTERS/Jean Feguens Regala/File Photo Brazil's President Luiz Inacio Lula da Silva delivers a speech during the Blue Economy and Finance Forum (BEFF) at The Grimaldi Forum in Monaco on June 8, 2025. LUDOVIC MARIN/Pool via REUTERS/File Photo BRASILIA - Brazilian President Luiz Inacio Lula da Silva on Friday became the latest world leader to call for a stronger security force in Haiti, as the underfunded, poorly manned U.N.-backed mission has failed to make headway against the nation's spiraling gang crisis. A record 1.3 million people have been displaced from Haiti in the past six months as armed violence surges, according to U.N. data. Experts say the security mission on the ground there, led by Kenya with support from the U.N., is not enough. Lula, meeting with Caribbean leaders in capital Brasilia, called for the U.N. to finance the mission under its current structure or to convert it into an official peacekeeping mission. "Stabilizing the security situation is essential to take the next step in the political process and hold presidential elections," Lula said. Brazil led a peacekeeping mission to Haiti from 2004 to 2017, though it was marred by a deadly cholera outbreak and allegations of human rights abuses which have left many Haitians wary of an official force. At the moment, the U.N. manages the funds for the Haitian mission, which come from voluntary donations by countries. Many have pledged funds which have yet to arrive. A transition to a formal peacekeeping mission, which would ensure stable funding, would need to be approved by the U.N. Security Council. The U.S. had previously backed the move, though Russia and China, which hold veto powers, were against it. Other world leaders, including France, the Dominican Republic and Colombia, have called for increased support in recent months. France, which colonized Haiti, in April said it was "time to move on" to a peacekeeping mission. Dominican President Luis Abinader, in a letter signed by other former presidents, asked the U.N. earlier this month to consider a hybrid mission to provide logistics and operational support. "Without urgent and effective strengthening of the (mission), there is a real risk that Haiti will be completely dominated by (gangs)... and become a regional hub for drug trafficking, terrorism and other transnational crimes," they wrote. Colombian President Gustavo Petro, following a previous suggestion from U.S. Secretary of State Marco Rubio, last week asked the Organization of American States to deploy troops to Haiti. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
12-06-2025
- Politics
- Straits Times
Brazil's Lula grows more unpopular in Brazil as approval dips to 28%, Datafolha poll shows
Brazil's President Luiz Inacio Lula da Silva walks on stage after giving a speech during the Blue Economy and Finance Forum (BEFF) at the Grimaldi Forum in Monaco, June 8, 2025. REUTERS/Manon Cruz/Pool/File Photo Brazil's Lula grows more unpopular in Brazil as approval dips to 28%, Datafolha poll shows SAO PAULO/BRASILIA - Brazilian President Luiz Inacio Lula da Silva has grown more unpopular in June, pollster Datafolha said on Thursday, as his government's approval rating dipped and disapproval rose. Lula's government approval ticked down to 28% in June from 29% in April, while the disapproval rate increased to 40% from 38% in the period, according to Datafolha. Still, both rates remain better than February's figures when Lula's approval hit a record low of 24% and disapproval peaked at 41% during his three terms in office. Those seeing Lula's government as average fell to 31% in June from 32% in April, Datafolha said. The poll surveyed 2,004 eligible voters in person on June 10-11. The poll has a margin of error of plus or minus two percentage points. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Qatar Tribune
12-06-2025
- Business
- Qatar Tribune
QF's Earthna co-launches MENA coastal resilience programme
Tribune News Network Doha Qatar Foundation's Earthna Center for a Sustainable Future has launched The Blue Economies for Coastal Resilience (BEFCR) programme in partnership with MENA Oceans initiative by Goumbook. This strategic initiative was unveiled at the Blue Economy and Finance Forum in Monaco on June 7, 2025, in the lead-up to the Third United Nations Ocean Conference (UNOC3), which is taking place in France from June 9 to 13, 2025. BEFCR is the first initiative of its kind in the region and aims to accelerate regenerative blue economies, strengthen climate resilience in coastal cities, protect marine biodiversity, and unlock investment in ocean infrastructure across the Middle East and North Africa (MENA). The programme's first phase, running from June 2025 to January 2026, will deliver a strategic landscape assessment of key blue economy sectors in MENA. The outcome will be a regional roadmap that supports infrastructure resilience, ocean health, and economic growth in coastal cities. The BEFCR programme reflects Earthna's broader commitment to sustainable development and environmental resilience. 'The launch of the BEFCR Programme reflects our shared conviction at Earthna that climate resilience in MENA's coastal cities must be rooted in both science and innovation. By aligning economic growth with ecosystem regeneration, we are paving new pathways for sustainable prosperity across the region,' said Dr Gonzalo Castro de la Mata, CEO, Earthna. BEFCR will focus on six key sectors - maritime transport, coastal tourism, offshore energy, fisheries, desalination, and coastal development. The initiative seeks to foster cross-sectoral collaboration, identify investment gaps, enhance coastal protection, and promote nature-based and hybrid infrastructure solutions. Earthna will co-lead Phase 1 of the programme, including the production of the Blue Economies for Coastal Resilience Outlook Report, to be released at the 3rd MENA Oceans Summit in late 2025. The programme emerged as a flagship outcome of the MENA Blue Finance Leadership Think Tank, convened at the Blue Economy and Finance Forum by MENA Oceans in partnership with the UN Climate Champions Team. The forum gathered policy makers, scientists and private-sector leaders to reshape the role of finance in advancing marine resilience and ocean-positive outcomes in the of new programme to accelerate regenerative blue economies and marine biodiversity protection across MENA
