Author: Udenna Orji

Companies can sue governments for closing oilfields and mines – and the risk of huge damages is already stopping countries from passing green laws, ministers say In the mountains of Transylvania, a Canadian company makes plans for a vast gold and silver mine. The proposal – which involves razing four mountain tops – sparks a national outcry, and the Romanian government pulls its support. After protests from local communities, the Italian government bans drilling for oil within 12 miles of its shoreline. A UK fossil fuel firm has to dismantle its oilfield. Beneath the grey whales and sea turtles of Mexico’s gulf,…

A report by the World Resources Institute shows that rapidly expanding mining operations are causing widespread destruction of tropical primary rainforests and protected areas, raising carbon emissions and displacing Indigenous communities Whether it’s digging for metals and minerals for cellphones and electric vehicles or coal for power generation, mining around the world has skyrocketed since 2000, causing widespread destruction of tropical forests, degrading the environment and displacing Indigenous and local communities, the World Resources Institute says in a report released Wednesday. The analysis highlighted that from 2001 to 2020, the world lost nearly 1.4 million hectares (3,459,475 acres) of trees due to…

‘Masculine’ money-making strategies influenced by personal shopping habits, research shows By Lucy Burton “Masculine” investors do worse than women who take a “feminine” approach, researchers have found. A study from Mannheim Business School in Germany found that both male and female investors have a tendency to back companies that match their shopping habits. It leads to differences in typical investment baskets for men and women, with male money managers more likely to invest in car companies and women favouring healthcare, among others. However, male investors rely “too much” on their personal shopping preferences when it comes to deciding which companies to…

A senior economist at the Centre for Economic Strategy in Kyiv, Volodymyr Landa, has said the minerals cooperation agreement between Ukraine and the United States (US) has undergone “Multiple iterations” as negotiations between both countries continue. Speaking with reporters, Landa noted the lack of clarity surrounding the final terms of the deal, remarking, “It’s hard to say what’s inside.” The agreement comes as Ukrainian President Volodymyr Zelenskyy seeks to strengthen ties with the U.S. administration under President Donald Trump. However, tensions have emerged over the financial arrangements tied to American military assistance. While Washington has reportedly urged Kyiv to allocate revenue from the…

The Bank for International Settlements (BIS) has issued a fresh warning about the risks posed by the growing adoption of cryptocurrencies and decentralized finance (DeFi), noting their potential to disrupt traditional finance and deepen economic inequality. In a report released on April 15, the BIS emphasized that the expansion of crypto markets and the influx of capital into DeFi have “reached a critical mass,” adding that investor protection has become a “significant concern for regulators.” With the crypto sector’s size now impossible to ignore, the BIS cautioned that authorities should be paying attention to the “stability of crypto over and…

Despite repeated warnings from financial regulators and industry experts, Ponzi schemes continue to thrive in Nigeria. Experts say the failure to learn from previous scams, combined with the inability or unwillingness of relevant authorities to proactively identify and clamp down on these entities, created the fertile ground upon which CBEX flourished. Allure of quick returns According to Vice Chairman of Highcap Securities, David Adonri, the key driver behind the persistent attraction to Ponzi schemes is greed, deeply rooted in a get-rich-quick mentality. “A lot of Nigerians want to reap where they did not sow,” he said. “They are lured in…

Biggest retirement providers to sign voluntary code to ‘buy British’ after Treasury pressure Rachel Reeves is closing in on a £50bn deal with pension funds to buy British assets after pressuring them to invest more in home-grown projects. The Chancellor will announce a new version of a voluntary code signed by the biggest retirement providers that will see them commit to ploughing 10pc of savers’ cash into unlisted assets by 2030, with half of that devoted to the UK. It is understood that a first draft of the new Mansion House Compact was circulated last week following several rounds of sometimes tense negotiations between…

Robert Kiyosaki, renowned author of the best-selling personal finance book Rich Dad Poor Dad, has issued a bold new warning, declaring that the collapse of the U.S. dollar is no longer a future risk — it has already happened. In a recent post on X (formerly Twitter), Kiyosaki cited record-breaking gold prices, rising silver demand, and the continued surge of Bitcoin as signs that the global financial system is undergoing a major shift. “Savers of stocks, bonds, ETFs, and mutual funds are being wiped out,” Kiyosaki stated, accusing central banks — including the Federal Reserve, the European Central Bank, and…

President of the African Development Bank Group (AfDB), Akinwumi Adesina, has warned African Countries against imposing retaliatory tariffs on the United States government, stressing that such action could be disastrous for their economies. Adesina gave the warning on Friday while delivering a convocation lecture at the National Open University of Nigeria (NOUN), Abuja, on the topic “Advancing Africa’s Positioning within Global Development and Geopolitical Dynamics.” The former Nigerian Minister of Agriculture advised African leaders to pursue deeper dialogue and negotiations with the U.S. government to amicably manage ongoing trade tensions. He said: “The world is obviously reeling from the effects of…

UK house prices have surged by an average of £10,431 over the past year, bringing the typical property value to £294,818, with demand for larger homes playing a key role in this growth. Easing interest rates have improved mortgage affordability, pushing annual property price growth to 3.7% in January 2025, a significant rise from just 1% at the start of 2024, according to data from Halifax. This latest increase has seen house prices surpass their previous peak in August 2022, which was set during the pandemic-driven property boom. Terraced houses have been the standout performers, recording a 4.5% price increase…