As world leaders gear up for the first ever UN Summit on refugees and migrants, civil society organisations already expect the summit to fail to agree any concrete steps for governments to share the responsibility for dealing with the escalating crisis. That is why calls for putting the equitable sharing of responsibility into practice will continue well after the Summits, reports Josephine Liebl of Oxfam International.
As the Convention on International Trade in Endangered Species of Wild Fauna and Flore (CITES) gathers in Johannesburg for its 17th Conference of the Parties, Global Financial Integrity (GFI) releases new estimates on the link between wildlife trafficking and the global shadow financial system. From a forthcoming report, to be published in November 2016, GFI finds that wildlife trafficking generates an estimated US$5 to $23 billion in revenues each year.
At this year's UN General Assembly, world leaders launched an unprecedented effort to roll out universal social protection in countries all around the world. Heads of state, the World Bank Group and the International Labour Organization convened on Wednesday 21 September to launch the Global Partnership for Universal Social Protection, which aims to make pensions, maternity, disability and child benefits, among others, available to all persons, closing the gap for hundreds of millions currently unprotected worldwide.
The Global Partnership for Universal Social Protection brings together the African Union, FAO, the European Commission, Helpage, IADB, OECD, Save the Children, UNDP-IPC, UNICEF and others, along with Belgian, Finnish, French and German cooperation.
At a conference in Berlin on 29 June, the German Finance Minister, Wolfgang Schäuble, when asked about the situation of Deutsche Bank, said he was more concerned with the situation in Portugal. He added that if Portugal does not comply with EU budget rules, a new rescue program will be needed. It is not the first time that Schäuble has made this kind of statement about Portugal when questioned about Germany’s leading bank.
Read the article about how the German banks are saved ...
Memo to accountants: In the future, there are going to be fewer shadows and more sunlight in your world. Even investors are fed up with the opaque system in which you’ve thrived.
For much of the past 10 years, a mixture of espionage, intrepid journalism and political pressure has exposed financial practices that thrived in the dark but don’t do nearly as well when made public. Tax minimization schemes. Deals with low-tax governments. Complex legal structures that obscure ownership.
Now, a mixture of investor activism and public shaming is turning the international tax and financial system, which all but invites companies to move and stash money all around the world, into an agenda item for federal regulators, lawmakers — and perhaps prosecutors — in the coming years.
Today we launch a detailed proposal for a new era of collaboration between the United States and Mexico: bilateral regulation of temporary, lawful labor mobility across the border. I join with a diverse, five-star group of experts from both countries—chaired by Ernesto Zedillo, the former president of Mexico and Carlos Gutierrez, the US Secretary of Commerce under George W. Bush (as featured in the New York Times)—to say that it is time for a new vision of the shared future at our shared border. We offer specific ways to get there.
‘Five-Alarm Threat to Our Food Supply’: Monsanto-Bayer Merger Advances
Chemical and GMO giants agree on takeover offer worth $66 billion; mega-merger to be reviewed by antitrust agencies worldwide
Monsanto accepted Bayer’s $66 billion takeover offer—the largest all-cash deal ever—on Wednesday morning.
The left sometimes has problems in seeing the positive dimension of the news. True, the overall reality of today certainly does not look rosy. Inequality keeps growing, unemployment keeps rising, neoliberalism certainly is not dead. And right-wing populism continues to rise, while even some left-wing forces now seem to be convinced to follow the road of nationalism and protectionism.
Yet, there are signs something might be changing positively.
People not versed in the complexities of the diplomatic world of distorted mirror images in Geneva or Accra or Nairobi may wonder in awe at the agreements negotiated in their name by their representatives in multilateral forums like UNCTAD. But, truth be told, UNCTAD is in no position to deliver the mandate that it got in Nairobi.
The elaboration of an ‘International Legally Binding Instrument on Transnational Corporations and other Business Enterprises with respect to Human Rights’ (hereinafter ‘the Instrument’), as mandated by the Human Rights Council at its 26th Ordinary Session (June 26, 2014), requires definitions about a multiplicity of issues. Many choices need to be made among possible policy options and properly reflected in treaty language.
This paper addresses one of such issues: the subjective scope of the Instrument, that is, whose conduct will be subject to the disciplines eventually incorporated therein.
With the continuing bleeding of various Syrian economic sectors, the movement of Syrian funds abroad in search of safe havens is increasing, stopping the heart of development inside the country while ensuring the sustainable development of “downstream” countries.
The flight of local capital began with the first year of the revolution with a number estimated by the British magazine the Economist at about 20 billion dollars in 2011 alone.