Author: 198 Nigeria News

  • Amaechi, Tinubu’s allies disagree over vote-buying allegation

    Amaechi, Tinubu’s allies disagree over vote-buying allegation

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    Amaechi, Tinubu’s allies disagree over vote-buying allegation

    A former Minister of Transportation and presidential aspirant of the All Progressives Congress, Rotimi Amaechi, came under fire on Monday over his allegation that delegates who voted at the APC primary were bribed to influence the outcome of the convention.

    Amaechi had further claimed that many of those who were induced with money have since regretted their action.

    He made the controversial statement at an event to mark the 60th birthday of the General Overseer of Abundant Life Evangelical Mission, Eugene Ogu, in Port Harcourt, Rivers State capital on Saturday.

    The standard-bearer of the party, Asiwaju Bola Tinubu, had defeated Amaechi, Vice President Yemi Osinbajo and 12 others to clinch the presidential ticket at the party’s national convention.

    Reacting to his scathing remarks, some APC supporters and party chieftains berated the former governor of Rivers State, who they claimed was exhibiting traits of frustration after losing out to Tinubu.

    A number of Amaechi’s loyalists have also risen to his defence, stating that the ex-minister did not mention any name while making the conjecture.

    Director-General of Asiwaju Tinubu Presidential Campaign Organisation, Adebayo Shittu, said he found the utterances of Amaechi unbelievable.

    He said, “Who is regretting what? Can Amaechi isolate himself from those he claimed to have induced delegates for votes? He, just like other aspirants at the APC primaries, cannot point fingers at others without implicating themselves.

    “What does he mean by delegates are regretting they collected bribes for votes? Is he indirectly saying the governors who brought them collected bribes and expressing regret too? I wish to have an opportunity to square up with him on this kind of issues.”

    “Amaechi’s outburst, just like few other noticeable ones, were obviously done out of frustration. I understand that when one loses an election, one is bound to hold grudges. You can’t rule that out. After all, we are human beings and Nigerians,” he added.

    The Ekiti State Coordinator of Tinubu Support Organisation, Gabriel Babalola, also took a swipe at Amaechi and wondered how a former minister believed he could win the battle for the APC presidential ticket without working hard for it.

    “Before any of them could wake up, Asiwaju had gone from state to state, from one traditional ruler to another asking for their support.

    “How many traditional rulers did Amaechi visit before the convention? How many states did he visit? He must have spoken out of frustration,” Babalola said.

    APC’s youngest presidential aspirant, Nicholas Felix, however, called for restraint on both sides.

    He said, “Amaechi, like some other aspirants and party members, may not be pleased with the fact that Asiwaju won the elections, especially with the contentious Muslim-Muslim ticket playing out.

    “I am quite sure the reaction would have been different if Tinubu didn’t head in that direction. Perhaps, everybody would have been fired up.”

    One of Amaechi’s allies and a chieftain of the APC, Chief Chukwuemeka Eze, however said it was unfortunate that Tinubu’s camp took the matter personal.

    Eze, a former spokesman of the defunct new Peoples’ Democratic Party, noted that the former minister neither mentioned Tinubu nor name any politician and wondered why he attracted unnecessary criticism from his men.

    “Did Amaechi mention anybody’s name when he made that statement? So if Tinubu’s people feel that they are the guilty, it is very unfortunate.

    “Everybody saw what happened on that day, and even most of the delegates confirmed that they were given money to vote,” he said.

    In a related development, Deputy Publicity Secretary of the APC in Rivers State, Darlington Nwauju, also believed Amaechi was misunderstood.

    Nwauju said, “First of all, I was present at that ceremony or the event where he spoke. Now the issue is that he gave an example anybody can give any interpretation. And I hope they also heard when he said ‘please, vote for the APC.’ He said that clearly.

    “So, when people take the example out of issues, he contextualised it because he is an APC member. He couldn’t have used the example of the PDP. If he had said those who voted for Atiku Abubakar, they would have said ‘oh, because he wants to join the PDP.’ So he contextualised it.”

    All efforts made to reach the APC National Publicity Secretary, Felix Morka, for reaction proved abortive.

    As of the time for filing this report, he didn’t answer his calls or reply the SMS.

    However, a former Deputy Spokesman of the APC, Yekinni Nabena also hinted that he would be totally disappointed if Amaechi really desecrated the same process he partook at the APC primary.

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  • US firefighters begin to slow huge California wildfire | Environment News

    US firefighters begin to slow huge California wildfire | Environment News

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    Firefighters have begun to slow the spread of the largest wildfire so far this year in California, after the Oak Fire threatened the famed Yosemite National Park and forced thousands of residents to evacuate their communities.

    The massive blaze expanded rapidly since it began on Friday, overwhelming the initial deployment of firefighters as scorching and dry weather fuelled its galloping pace through dry forest and underbrush.

    Several officials with the California Department of Forestry and Fire Protection (Cal Fire) said the fire initially behaved unlike any other they had seen, with burning embers sparking smaller fires up to 3km (2 miles) in front of the main conflagration.

    But firefighters have not seen more of that so-called spotting, Cal Fire spokesperson Natasha Fouts said on Monday from the incident command centre in Merced, about 210km (130 miles) inland from San Francisco.

    The absence of other major fires in the region enabled Cal Fire to concentrate 2,500 firefighters on the blaze, and the lack of wind allowed for the continuous use of aircraft to drop water and fire retardant, officials said.

    “We have concentrated all our crews throughout the state here. So if there’s a silver lining, it’s that we’re throwing everything at this fire right now,” Joseph Amador, a Cal Fire spokesperson, told Al Jazeera.

    The Oak Fire has engulfed 6,795 hectares (16,791 acres) and is 10 percent contained, Cal Fire said on Monday.

    It is the most destructive blaze so far this fire season, destroying more than three times in area than the nearby Washburn Fire, which has been nearly 90 percent contained. But it pales in comparison with last year’s Dixie Fire, which burned nearly 405,000 hectares (1 million acres).

    “What we’re seeing on this [Oak Fire] is very indicative of what we’ve seen in fires throughout California, in the West over the last two years,” Jon Heggie, a Cal Fire battalion chief, told CNN.

    “These fires are burning with just such a velocity and intensity it makes it extremely challenging and extremely dangerous for both the public and the firefighters,” Heggie said.

    “It’s moving so quickly it’s not giving people a lot of time and they sometimes are just going to have to evacuate with just the shirts on their back,” he said.

    California Governor Gavin Newsom declared a state of emergency in Mariposa County on Saturday, citing “conditions of extreme peril to the safety of persons and property”.

    In recent years, California and other parts of the western United States have been ravaged by huge and fast-moving wildfires, driven by years of drought and a warming climate.

    A US firefighter stands on top of a fire engine as crews battle the Oak Fire in California.
    Several officials with Cal Fire said the fire initially behaved unlike any other they had seen [File: Noah Berger/AP Photo]

    Experts have said climate change is driving heatwaves, drought and other extreme weather conditions around the world. Virtually every part of the US has experienced above-normal temperatures in the past week, and more dangerously-hot weather is expected.

    “Whatever it is, the conditions seem to be getting worse every year,” Amador at Cal Fire told Al Jazeera. “And every year we talk about record-setting years and here we are again. But we’re up to the task and we’re going to continue to do our best.”

    In California, evacuations were in place Monday for more than 6,000 people living across the sparsely populated Oak Fire zone in the Sierra Nevada foothills, though a handful of residents defied the orders and stayed behind, said Adrienne Freeman, a US Forest Service spokesperson.

    “We urge people to evacuate when told,” she said.

    Lynda Reynolds-Brown and her husband, Aubrey, awaited news about the fate of their home from an evacuation centre at a primary school. They fled as ash rained down and the fire descended a hill towards their property.

    “It just seemed like it was above our house and coming our way really quickly,” Reynolds-Brown told KCRA-TV.

    High temperatures in the area on Monday were expected to reach 37C (98F) with a slight breeze throughout the day. A 20 percent chance of thunderstorms was in the forecast on Monday night and Tuesday morning, the National Weather Service said, but otherwise, the area could expect similar hot weather much of the week.

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  • Your Tuesday Briefing: Pope Apologizes to Canada’s Indigenous People

    Your Tuesday Briefing: Pope Apologizes to Canada’s Indigenous People

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    We’re covering Pope Francis’ apology for the church’s role in ​Canada’s notorious residential school system, and China’s new diplomatic strategy in Africa.

    Pope Francis offered a sweeping apology for the Catholic Church’s role in running boarding schools in Canada where Indigenous children were sexually and physically abused and where many died.

    “I humbly beg forgiveness for the evil committed by so many Christians against the Indigenous peoples,” Francis said at the site of a former residential school in Maskwacis, Alberta, a place of horrors for the children forced to attend it between 1894 and 1976.

    Survivors had long called on the church to take responsibility for its role in the abusive institutions. For some, Francis’ apology was a chance to let go of their pain, while others said a lot more still needed to be done.

    The schools inflicted physical, sexual and mental abuse; erased languages; and used Christianity as a weapon to break the cultures and communities of Indigenous people. Christian churches operated most of the schools for the government. Catholic orders were responsible for running 60 to 70 percent of the roughly 130 schools, where thousands of children died.

    Related: The U.S. also continues to wrestle with the legacy of its government-run schools for Native American children. An Interior Department investigation released this year cataloged brutal conditions at more than 400 boarding schools that the federal government forced Native children to attend between 1819 and 1969.


    Myanmar’s military leadership said it had executed four pro-democracy activists, an apparent attempt to instill fear in a resistance movement that has battled the junta since it seized power in a coup last year.

    The executions — the first in the Southeast Asian nation in more than three decades — came after the activists were sentenced to death during closed-door trials without attorneys present. Western leaders have sought to persuade the military to free its political prisoners and halt its violence.

    Myanmar opposition leaders, human rights groups and the U.N. condemned the executions harshly. “These depraved acts must be a turning point for the international community,” Thomas Andrews, the U.N special rapporteur on human rights in Myanmar, said.

    Who they were: The four men who were executed had a history of opposing Myanmar’s vicious army, known as the Tatmadaw. They included U Kyaw Min Yu, better known as Ko Jimmy, a widely respected democracy activist who rose to prominence as a leader of a student group during nationwide protests in 1988, and U Phyo Zeya Thaw, a former hip-hop artist who was elected to Parliament after spending five years in prison for his activism.


    China already dominates trade with resource-rich nations in Africa. Its first overseas naval base is in Djibouti. Now it is more closely integrating financial and diplomatic efforts, offering to mediate in civil conflicts that are causing devastating famine — and, most significantly, signaling a new strategy to resolve billions of dollars in overdue Chinese loans.

    In addition, China, which has long promoted its one-party government style in Africa, opened a new training school in Tanzania. The International Liaison Department, the powerful body that promotes China’s ideology and influence, started the school.

    Global politics: The campaign is part of a great geopolitical competition between Beijing and Washington, which has intensified since the start of the war in Ukraine.

    Data: Trade between China and Africa topped $250 billion in 2021, compared with $64.33 billion between the U.S. and Africa.

    A number of Southern California residents are moving to Tijuana, Mexico, which some see as their best chance of homeownership.

    Stories of migrants who cross from Mexico to the U.S. in search of a better life are well known. But for the past decade, a reverse migration has quietly been gaining steam: Americans, priced out of the housing market and frustrated with sky-high costs of health care, electricity and basic goods, are increasingly opting to rent or buy homes in Mexico.

    Consumer prices, including rent, are 62 percent lower in Tijuana than in San Diego, according to the cost-of-living database Numbeo. In Tijuana, about $2,500 a month provides a standard of living that in San Diego would cost $6,600.

    The pandemic, which unmoored millions from the commute to a physical office, has accelerated this trend, as has the Sentri pass, which allows approved, low-risk travelers a fast lane into the U.S. at the Mexican border.

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  • Landmark guidelines aim to protect children uprooted by climate change — Global Issues

    Landmark guidelines aim to protect children uprooted by climate change — Global Issues

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    The Guiding Principles for Children on the Move in the Context of Climate Change contain a set of nine principles that address the unique and layered vulnerabilities of boys and girls who have been uprooted, whether internally or across borders, as a result of the adverse impacts of climate change. 

    They were launched by the International Organization for Migration (IOM), the UN Children’s Fund (UNICEF), Georgetown University in Washington, DC, and the United Nations University (UNU), located in Tokyo, Japan.

    Safeguarding future generations 

    The partners explained that currently, most child-related migration policies do not consider climate and environmental factors, while most climate change policies overlook the unique needs of children. 

    “The climate emergency has and will continue to have profound implications for human mobility. Its impacts will be most severe with particular segments of our communities such as children; we cannot endanger future generations,” said António Vitorino, the IOM Director General.  

    He added that although migrant children are particularly vulnerable when moving in the context of climate change, their needs and aspirations are still overlooked in policy debates.  

    “With these guiding principles we aim to ensure visibility to their needs and rights, both in policy debates and programming. Managing migration and addressing displacement of children in the context of climate change, environmental degradation and disasters, is an immense challenge that we must address now.” 

    Young lives at risk  

    Climate change is intersecting with existing environmental, social, political, economic and demographic conditions that are contributing to people’s decisions to move. 

    Nearly 10 million children were displaced following weather-related shocks in 2020 alone. Additionally, nearly half of the world’s 2.2 billion children, or roughly one billion boys and girls, live in 33 countries at high risk of the impacts of climate change.   

    The partners warn that millions more children could be forced to move in the coming years. 

    “Every day, rising sea levels, hurricanes, wildfires, and failing crops are pushing more and more children and families from their homes,” said Catherine Russell, the UNICEF Executive Director.

    “Displaced children are at greater risk of abuse, trafficking, and exploitation. They are more likely to lose access to education and healthcare. And they are frequently forced into early marriage and child labour.”  

    Children walk through the mud in a displaced persons camp in Maiduguri in northeast Nigeria.

    © UNICEF/KC Nwakalor

    Children walk through the mud in a displaced persons camp in Maiduguri in northeast Nigeria.

    Collaboration with young activists 

    The guiding principles provide national and local governments, international organizations, and civil society groups with a foundation to build policies that protect children’s rights. 

    They were developed in collaboration with young climate and migration activists, academics, experts, policymakers, practitioners, and UN agencies.  The principles are based on the Convention on the Rights of the Child and are informed by existing operational guidelines and frameworks. 

    David Passarelli of UNU recalled that the international community has been sounding the alarm on climate change and environmental degradation for years, as well as the likelihood of mass displacement.  

    These predictions have come true as climate-related migration has been observed in all parts of the world, with children increasingly affected. 

    “While these children benefit from a range of international and national protections, the subject matter is highly technical and difficult to access, creating a protection deficit for child migrants,” said Mr. Passarelli, Executive Director of the university’s Centre for Policy Research. 

    He added that the partners have stressed the need for concise guidelines that communicate risks, protections and rights, in clear and accessible language. 

    Protection today and tomorrow 

    The Guiding Principles “were developed with this specific objective in mind. This tool helps navigate the complex nexus of migrant rights, children’s rights, and climate change in order to respond more quickly and effectively to the needs of children on the move in the context of climate change.”  

    Governments, local and regional actors, international organizations, and civil society groups are being urged to embrace the principles. 

    While the new framework does not include new legal obligations, they distill and leverage key principles that have already been affirmed in international law and adopted by governments around the world, said Elizabeth Ferris, Director of Georgetown University’s Institute for the Study of International Migration.  

    “We urge all governments to review their policies in light of the guiding principles and take measures now that will ensure children on the move in the face of climate change are protected today and in the future.” 



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  • Eloswag emerges BBNaija S7 first Head of House

    Eloswag emerges BBNaija S7 first Head of House

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    Eloswag emerges BBNaija S7 first Head of House

    Big Brother Naija season 7 housemate, EloSwag, has emerged as the first Head of House for the season.

    This was announced after the Big Brother Naija Level Up housemates had their first Head of House games on Monday evening.

    The Level 1 and Level 2 housemates came together to play the HoH games in the arena and Eloswag became the best performing housemate.

    Following his performance, Big Brother announced him as the first Head of House for the season.

    Level 1 meets Level 2 housemates

    The Level 1 housemates met the Level 2 housemates for the first time during the HoH games on Monday evening.

    Before the start of the games, Big Brother explained how the housemates happened to be in separate houses in the game.

    Before the launch, two housemates were paired and each had their names written on two cards, a black-and-white card and a multi-coloured card.

    Housemates with their names in the multicoloured card belongs to the Level 2 house, which are the first set of housemates who came into the show on Saturday.

    The one whose name appeared on the black and white card belongs to the Level 1 House, who came into the show on Sunday.

    Head of House Games

    The HoH games was in two stages. All housemates participated in the first stage while the best five participated in the second stage.

    Biggie noted that the winner of the games will emerge as HoH and automatically save his/her fellow Level (1 or 2) housemates from possible eviction.

    Cyph, Eloswag, Bryann, Dotun, and Khalid made it into the second stage.

    After the round, Eloswag won the stage, making him the first HoH for the season.

    Head of House privileges

    As Head of House, Eloswag enjoys bragging right as the first ever Head of House for the season.

    He also enjoys immunity from possible eviction at the end of the week.

    With his emergence, Eloswag has saved the Level 1 housemates from possible eviction.

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  • Row breaks out over running shoes after staggering world record (VIDEO) — RT Sport News

    Row breaks out over running shoes after staggering world record (VIDEO) — RT Sport News

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    Nigeria’s Tobi Amusan is facing a barrage of questions after she destroyed the 100 meters hurdles world record at the World Championships in Eugene, Oregon. 

    Amusan recorded a stunning time of 12.12 seconds in her semi-final run, beating the previous women’s world record set by Kendra Harrison by 0.08 seconds and shattered her old personal best by almost 0.3 seconds. 

    Amusan then broke this time in the final, running a 12.06 – though this didn’t count towards the record books as it was adjudged as being wind-assisted.

    It was Nigeria’s first-ever gold medal at the World Championships. 

    So unexpected was her time that sprint legend Michael Johnson, who was performing commentary duties at the event, wondered aloud if the timing system at the event had malfunctioned, especially given that 12 of the 24 runners across three semi-finals set new personal bests on their runs.

    I don’t believe 100h times are correct. World record broken by .08! 12 PBs set. 5 National records set. And Cindy Sember quote after her PB/NR ‘I throughly I was running slow!’ All athletes looked shocked,” Johnson wrote on Twitter.

    Heat 2 we were first shown winning time of 12.53. Few seconds later it shows 12.43. Rounding down by .01 is normal. .10 is not.

    A deeper inquiry, though, has led to claims that the shoes worn by Amusan might be the answer to questions posed by Johnson and others.

    It emerged afterwards that she was wearing Adidas Adizero Avanti shoes – rather than traditional track spikes – athletic equipment which was designed for long-distance runners. 

    It was a decision made, she said, because these shoes have softer soles and helped to avoid relapses of plantar fasciitis which she was diagnosed with earlier this year – a type of injury which affects the soles of one’s feet.

    Laser beams, an army of pacesetters & special Nike shoes: How Eliud Kipchoge ran the first sub 2-hour marathon

    Adidas promoted the apparel as “like hitting fast-forward” and that they “provide a snappy, propulsive ride with high traction and reduce fatigue, so you finish 5km and 10km races with a kick”.

    There is no allegation of illegality in Amusan’s use of the shoes, given that they fall within the accepted standards used in such events.

    My abilities are not centered around spikes,” said Amusan, noting the controversy.

    I had patella fasciitis at the beginning of the season so that set me back for a while,” Amusan added.

    I spoke to Adidas and requested if I could get spikes with a softer sole. They recommended a lot of stuff and I feel comfortable in [the shoes], so I was using them basically the entire time.

    Speed-wise, I feel like I needed to work on my speed. I did 100m at the start of the season so that had a huge factor to come to play in the hurdles and I knew once I get the technical part out, I’d be fine.

    The spikes do seem to have an impact in hurdles events. Sydney McLaughlin, wearing similar shoes produced by a different footwear brand, broke the 400m hurdles world record earlier in the same week.

    READ MORE:
    Shoe wars: Kenyan athlete SMASHES half-marathon record as ARMS RACE between sneaker brands takes center stage

    You can share this story on social media:

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  • Scientists calculate the risk of someone being killed by space junk

    Scientists calculate the risk of someone being killed by space junk

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    The chance of someone being killed by space junk falling from the sky may seem ridiculously tiny. After all, nobody has yet died from such an accident, though there have been instances of injury and damage to property. But given that we are launching an increasing number of satellites, rockets and probes into space, do we need to start taking the risk more seriously?

    A new study, published in Nature Astronomy, has estimated the chance of causalities from falling rocket parts over the next ten years.

    Every minute of every day, debris rains down on us from space – a hazard we are almost completely unaware of. The microscopic particles from asteroids and comets patter down through the atmosphere to settle unnoticed on the Earth’s surface – adding up to around 40,000 tonnes of dust each year.

    While this is not a problem for us, such debris can do damage to spacecraft – as was recently reported for the James Webb space telescope. Occasionally, a larger sample arrives as a meteorite, and maybe once every 100 years or so, a body tens of metres across manages to drive through the atmosphere to excavate a crater.

    And – fortunately very rarely – kilometre-sized objects can make it to the surface, causing death and destruction – as shown by the lack of dinosaurs roaming the Earth today. These are examples of natural space debris, the uncontrolled arrival of which is unpredictable and spread more or less evenly across the globe.

    The new study, however, investigated the uncontrolled arrival of artificial space debris, such as spent rocket stages, associated with rocket launches and satellites. Using mathematical modelling of the inclinations and orbits of rocket parts in space and population density below them, as well as 30 years’ worth of past satellite data, the authors estimated where rocket debris and other pieces of space junk land when they fall back to Earth.

    They found that there is a small, but significant, risk of parts re-entering in the coming decade. But this is more likely to happen over southern latitudes than northern ones. In fact, the study estimated that rocket bodies are approximately three times more likely to land at the latitudes of Jakarta in Indonesia, Dhaka in Bangladesh or Lagos in Nigeria than those of New York in the US, Beijing in China or Moscow in Russia.

    The authors also calculated a “casualty expectation” — the risk to human life — over the next decade as a result of uncontrolled rocket re-entries. Assuming that each re-entry spreads lethal debris over an area of ten square metres, they found that there is a 10% chance of one or more casualties over the next decade, on average.

    To date, the potential for debris from satellites and rockets to cause harm at the Earth’s surface (or in the atmosphere to air traffic) has been regarded as negligible. Most studies of such space debris have focused on the risk generated in orbit by defunct satellites which might obstruct the safe operation of functioning satellites. Unused fuel and batteries also lead to explosions in orbit which generate additional waste.

    But as the number of entries into the rocket launch business increases – and moves from government to private enterprise – it is highly likely that the number of accidents, both in space and on Earth, such as that which followed the launch of the Chinese Long March 5b, will also increase. The new study warns that the 10% figure is therefore a conservative estimate.

    What can be done

    There are a range of technologies that make it entirely possible to control the re-entry of debris, but they are expensive to implement. For example, spacecraft can be “passivated”, whereby unused energy (such as fuel or batteries) is expended rather than stored once the lifetime of the spacecraft has ended.

    The choice of orbit for a satellite can also reduce the chance of producing debris. A defunct satellite can be programmed to move into low Earth orbit, where it will burn up.

    Image of Saudi officials inspect a crashed module in January 2001.
    Saudi officials inspect a crashed module in January 2001.
    wikipedia

    There are also attempts to launch re-usable rockets which, for example, SpaceX has demonstrated and Blue Origin is developing. These create a lot less debris, though there will be some from paint and metal shavings, as they return to Earth in a controlled way.

    Many agencies do take the risks seriously. The European Space Agency is planning a mission to attempt the capture and removal of space debris with a four-armed robot. The UN, through its Office of Outer Space Affairs, issued a set of Space Debris Mitigation Guidelines in 2010, which was reinforced in 2018. However, as the authors behind the new study point out, these are guidelines, not international law, and do not give specifics as to how mitigation activities should be implemented or controlled.

    The study argues that advancing technologies and more thoughtful mission design would reduce the rate of uncontrolled re-entry of spacecraft debris, decreasing the hazard risk across the globe. It states that “uncontrolled rocket body reentries constitute a collective action problem; solutions exist, but every launching state must adopt them.”

    A requirement for governments to act together is not unprecedented, as shown by the agreement to ban ozone layer-destroying chlorofluorcarbon chemicals. But, rather sadly, this kind of action usually requires a major event with significant consequences for the northern hemisphere before action is taken. And changes to international protocols and conventions take time.

    In five years, it will be 70 years since the launch of the first satellite into space. It would be a fitting celebration of that event if it could be marked by a strengthened and mandatory international treaty on space debris, ratified by all UN states. Ultimately, all nations would benefit from such an agreement.

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  • Blow for Putin as China abandons investment in Russia : worldnews

    Blow for Putin as China abandons investment in Russia : worldnews

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    “China has not funded any new infrastructure projects in Russia for months as Beijing focuses its attention on preventing a financial crisis at home.
    Financing and investment through the Chinese Belt and Road Initiative (BRI) fell to $28.4bn (£23.6bn) over the first half of 2022, down from $29.4bn during the same period last year.

    No money went to new projects in Russia, Sri Lanka or Egypt, all of which had previously been key beneficiaries of Chinese spending. The lack of engagement with Russia suggests Chinese businesses may be afraid of falling victim to secondary sanctions introduced against Moscow over the invasion of Ukraine.”

    I do not know if the article is real or not (we will have to wait a source closer to Beijing) but I am so grinning thinking “Eat this Putin, even your best friend used you and tossed you away because you are a lunatic”.

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  • Since 2014, Roughly 42% of Failed Crypto Exchanges Have Disappeared Without a Trace for No Apparent Reason – Exchanges Bitcoin News

    Since 2014, Roughly 42% of Failed Crypto Exchanges Have Disappeared Without a Trace for No Apparent Reason – Exchanges Bitcoin News

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    Jamie Redman

    Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.






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  • Philippines’ Marcos Jr unveils economic blueprint for ‘turbulent time’ | The Guardian Nigeria News

    Philippines’ Marcos Jr unveils economic blueprint for ‘turbulent time’ | The Guardian Nigeria News

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    Philippine President Ferdinand Marcos Jr vowed Monday to slash poverty, rein in soaring food prices and boost renewable energy, as he unveiled an ambitious blueprint for his six-year term.

    In his first State of the Nation address, Marcos Jr offered a laundry list of targets, ranging from getting children back into classrooms, easing the debt burden of farmers, and expanding internet access.

    Unlike his predecessor Rodrigo Duterte, who used to frequently go off script in a stream of consciousness and threaten to kill people, Marcos Jr stuck to a prepared speech that was methodical and heavy on numbers.

    After inheriting an economy ravaged by Covid-19 lockdowns and inflation, the new president expressed cautious optimism for the future — even as the war in Ukraine and supply chain disruptions drive up food and fuel prices.

    “I do not intend to diminish the risks and challenges that we face in this turbulent time in global history,” he told the audience of lawmakers, diplomats and judges.

    “And yet I see sunlight filtering through these dark clouds. We have assembled the best Filipino minds to help navigate us through this time of global crisis.”

    Marcos Jr, who is the son and namesake of the country’s late dictator, spoke for 74 minutes without mentioning human rights, corruption or peace talks with militant groups.

    Instead, the 64-year-old scion focused on the economy, clean energy, agriculture, and helping poor Filipinos.

    Marcos Jr vowed to more than halve the poverty rate to single digits by the end of his term and offer financial relief to many farmers, including forgiving debts.

    Renewable energy was “at the top of our climate agenda”, he said, insisting it was time to reconsider building nuclear power plants in the disaster-prone country.

    He also pledged to boost agricultural productivity and bring down food prices.

    “These will not be done in one day, one month or one year. But we need to start now,” he said.

    Peaceful protests
    Marcos Jr was swept to power by a landslide in the May 9 elections, completing his family’s remarkable comeback from pariahs in exile to the peak of political power.

    Hours before his speech, several thousand protesters marched peacefully along a major avenue to oppose his victory and criticise his first weeks in office.

    “He’s just sitting around, he’s busying himself revising history instead of doing the urgent work of stopping the rising costs of commodities especially food, distributing land to farmers and raising the wages of workers,” said Angelo Suarez, who volunteers for an agricultural workers union.

    The higher cost of living is worsening the financial misery of millions of Filipinos already struggling to feed their families.

    The central bank recently raised interest rates for the third straight month as it struggles to rein in surging energy prices.

    Inflation hit 6.1 percent in June, the highest level in nearly four years.



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