Stories about Economics & Business from May, 2024
Azerbaijan's President Aliyev cozies up to authoritarian leaders
In all of these cases, Azerbaijani government and its leadership got away with its dubious financial transactions and deals all the while, building new friendships and cracking down on freedoms.
At UN SIDS4, Caribbean and Pacific nations reinforce call to negotiate a fossil fuel non-proliferation treaty
These climate progressive countries are negotiating for an equitable transition away from oil, gas, and coal, improving the world’s chances of staying within the 1.5°Celsius climate limit.
Pacific communities seek to protect kava as it gains global popularity
The kava drink, traditional in Pacific Island communities, has become a global sensation, leading to some concern about exploitation and appropriation.
Why small islands need their own Marshall Plan
The Fourth UN Conference on Small Island Developing States will negotiate a 10-year agenda that requires an unprecedented financing package to meet the existential scale of the challenge being faced.
Fossil fuels dependency exacerbates Pakistan’s power crisis
Pakistan is currently facing a severe energy crisis characterised by electricity shortages and frequent electricity cuts, which has a detrimental impact on household activities, industries, and the overall economy.
Pakistan administered Kashmir faces internet shutdown amidst protests
In May 2024, Pakistan-administered Azad Kashmir witnessed significant unrest, with daily life profoundly impacted by internet shutdowns and the violent suppression of protests by Pakistani security forces.
Much of Guyana’s Almond Beach has been washed away, but a few residents stay behind to protect the turtles also losing their home
The increasing erosion rate along Guyana's Shell Beach Protected Area poses challenges for the residents and the turtles that have grown accustomed to nesting there each year.
Activists call for the shutdown of the Hong Kong Economic and Trade Office after three alleged spies were arrested in London
One of the three arrested is an employee of HKETO. The suspects were allegedly involved in the spying of Hong Kong activists in the U.K.
Tea is a daily delight for Bangladeshis, yet plantation workers face immense hardships
For most Bangladeshis, tea signifies a fulfilling life, but for the tea garden workers, their meagre wages mean tea leaves with rice is all they can afford in a meal.
Symbolic, but distant in the future: A dam on Kyrgyzstan’s Naryn river
With a projected capacity to generate 5.6 billion kWh, the Kambar-Ata-1 HPP could improve Kyrgyzstan’s energy security and allow for increased exports.
Money from trees: What of Guyana's Indigenous people and their rights — and do they benefit from the carbon trade?
The funds go towards projects that fall within Guyana’s Low Carbon Development Strategy (LCDS), intended to drive national development while maintaining the country's low deforestation rate.
Yemenis struggle with unauthorized reselling of phone numbers
Yemenis express outrage as telecommunications companies reallocate their phone numbers without notice, leading to privacy breaches, financial scams, and disrupted communications, highlighting systemic regulatory failures and customer exploitation.
Locals in Aruba protest unsustainable growth of hotel and tourism industry
With signs that read “No More Hotels”, “Land Back”, and “Decolonise Aruba,” locals showed their concern about the island's environment, as well as the future of its main economic pillar.
Government bid to ban ‘Glory to Hong Kong’ protest song approved by appeals court
The judges said that internet platforms are ready to accede to the government’s request if there is a court order.
Heatwave highlights climate vulnerabilities in Southeast Asia
South and Southeast Asia roasted in a record-setting heatwave that killed hundreds, forced some governments to close schools, and led to an uptick in health issues.
Elon Musk, superhero of the Latin American right
Musk praises Milei, Bukele and Bolsonaro, while picking fights with Chavismo and Lula. Along with his business ventures, he is increasingly active in politics.
South Asia sizzles: Record heatwave and extreme weather blamed on climate crisis
A scorching heatwave is ravaging South Asia, impacting the lives of hundreds of millions. Schools have been forced to close and the risk of health hazards has risen dramatically.
Uzbekistan’s new vehicle import regulations risk strengthening its most notorious monopoly
A major factor that puts the new restrictions under scrutiny and raises suspicions over attempts to stifle competition is the history of monopoly in Uzbekistan’s automobile industry.
Azerbaijan, COP29 host, shows disregard for climate action and human rights
In Berlin, president Aliyev touched on recent investigations and arrests leveled against a series of independent and opposition media adding, "these investigations were lawful. Any given country must defend its laws.
Cat lovers boost tourism in Taiwan village as feline residents revive once-flourishing mining town
A once-thriving coal mining town in Taiwan has reinvented itself as a tourist attraction and home to over 100 feline residents.