16:54
BP will reduce its workforce by over 5%, cutting 4700 jobs
BP announced on Thursday, January 16, that it will reduce its global workforce by over 5%
Britain commits £1.98BN to World Bank Fund for the poorest nations
Reuters
The UK government has pledged to invest £1.98 billion ($2.5 billion) over the next three years into the World Bank’s International Development Association (IDA) fund, aimed at supporting the world’s lowest-income countries. This contribution will help fund projects that promote economic growth, combat poverty, and address the ongoing challenges of climate change, according to a government statement.
The IDA fund, which provides grants and low-interest loans to the most impoverished nations, is replenished every three years, with a pledging conference scheduled for December 5-6 in Seoul. World Bank President Ajay Banga is seeking a record-breaking amount for this replenishment, aiming to exceed the $93 billion raised in December 2021, in response to growing demands from poor countries facing mounting debts, climate-related disasters, conflict, and other crises.
This pledge comes shortly after U.S. President Joe Biden announced a $4 billion contribution to the IDA fund last week.
While the UK previously committed 0.7% of its gross national income to overseas development aid, the Conservative government reduced this figure to 0.5% in 2021 due to the economic impact of the COVID-19 pandemic. Since taking office in July, Prime Minister Keir Starmer's Labour government has vowed to restore the aid budget to 0.7%, though no timeline has been set for this increase.
16:06
British Prime Minister arrived in Ukraine to sign a new agreement
British Prime Minister Keir Starmer arrived in Ukraine to sign a new security and trade agreement with Kyiv.
10:02
UK minister resigns amid corruption allegations
Britain’s Minister for Financial Services, Tulip Siddiq, has resigned amid growing scrutiny over her financial ties to her aunt, former Bangladeshi Prime Minister Sheikh Hasina, and allegations of corruption. The resignation marks a setback for Prime Minister Keir Starmer’s government.
19:35
Middle East
British PM calls for Middle East peace this Christmas
British Prime Minister Keir Starmer expressed hope for Middle East peace and a brighter future, calling Christmas a time to focus on family, friendship, and unity.
18:25
Forestry England is testing a nature restoration method in North Yorkshire
In soils the right balance of fungi and bacteria is very important to maintain a healthy soil for both forests as well as agricultural lands. Due to intensive farming practices, we see that the fungal diversity and the population in soils have come down drastically.
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