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M20 Summit: Media Advocates Push for G20 Inclusion

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

Independent M20 summit Challenges G20 to Address Critical Media & Data Integrity Issues

Johannesburg, South Africa – As world leaders prepare for the G20 summit, a parallel, independent event – the M20 Summit – is launching today in South Africa, aiming to force a crucial conversation about the role of media, journalism, and information integrity in a rapidly changing global landscape.

Organized by the South African National Editors Forum (Sanef) and Media Monitoring Africa, the M20 Summit arose from a glaring omission: the complete lack of focus on media within the official G20 agenda.

“There was no reference to the role of media in G20 economies; on the future-proofing of journalism or,in fact,on information integrity as a whole,” explains Izak Lover,convenor of the M20 and representative of Sanef. “It was especially surprising because not even the references in the global compact of the role of media in supporting media integrity appeared on the South African G20 agenda.”

Despite being an unofficial event, the M20 has already garnered significant traction, with participation oversubscribed. Leading representatives from global media organizations, freedom of expression advocates, and information integrity groups are contributing to the development of policy briefs that will form the core of the M20’s recommendations.

This isn’t the first attempt to influence the G20’s thinking. The initiative builds on the momentum of previous M20 conferences, including one hosted in 2023 by Siddharth varadarajan, co-founder of The Wire in India. Last year, in Brazil – where information integrity was a priority – media advocacy directly contributed to the creation of the Global Fund for Climate Change Reporting.The M20 has evolved into a global advisory group comprised of media leaders from over 20 organizations worldwide. The group’s policy briefs address a range of critical issues, including:

Information Integrity: Combating disinformation and ensuring access to reliable news.
 Artificial Intelligence: Navigating the challenges and opportunities AI presents to journalism.
Intellectual Property: Protecting journalistic work in the digital age.
 Children’s Rights: Ensuring responsible media coverage concerning children.
* Media Viability: Addressing the economic pressures facing journalism and ensuring its sustainability.

“Even if the G20 continues to ignore media, we already consider the international interest in convincing the G20 to consider the role of media a success,” Lover stated, underscoring the M20’s commitment to keeping these vital issues on the global agenda. The summit will culminate in a declaration outlining the M20’s key recommendations,directly addressing the challenges facing media and information integrity worldwide.

Keywords: G20, M20 Summit, Media Integrity, Journalism, Disinformation, Information Integrity, South Africa, Sanef, Media Monitoring Africa, AI, Global Fund for Climate Change Reporting.

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Business

BMW Hybrid Battery Repair: Romanian Mechanic Saves Owner Thousands

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

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Electric vehicle Battery Repair: A Cost-Effective Choice to Replacement?

Published: October 26,2023

BMW Hybrid Battery Repair: Romanian Mechanic Saves Owner Thousands

A recent case highlights the potential for repairing electric vehicle (EV) batteries instead of automatically replacing them, offering a more economical solution for owners. The incident, documented in a video circulating online, involved an EV with a battery issue that initially appeared to require a full replacement. However,a skilled mechanic identified the problem as a fault within a single cell of the battery pack.

The vehicle’s warranty coverage was initially deemed invalid due to evidence of maintenance performed outside of authorized service centers. The owner’s driving habits, indicated by a remaining range of approximately 20-30 miles (32-48 kilometers) and the use of the heated reserve function, suggested a driver accustomed to operating the vehicle close to its range limit. This practice, while not inherently damaging, can contribute to increased battery stress and potential issues.

Despite the warranty implications, the mechanic’s approach of pinpointing and replacing the faulty cell demonstrates a valuable alternative to the often-expensive full battery replacement. Replacing a single cell is significantly less costly than replacing the entire battery pack,which can range from $5,000 to $20,000 USD depending on the vehicle model and battery capacity.

This case underscores the growing need for specialized EV repair expertise. While manufacturers often prioritize full battery replacements, self-reliant mechanics with the necessary training and equipment can offer viable repair options. The long-term benefits of cell-level repair extend beyond cost savings, perhaps reducing electronic waste and promoting a more sustainable approach to EV ownership.

See the detailed repair process in the video below.

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Business

China Urges Private Sector to Join Belt & Road Infrastructure Push

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

china Prioritizes Private Investment Role in Major Infrastructure Development

Table of Contents

Beijing is actively encouraging private companies to play a larger role in infrastructure projects, particularly those that enhance cross-border connectivity, according to Finance Minister lan Foan at the Asia infrastructure Investment Bank (AIIB) annual meeting. This move comes as developing nations face increasing constraints due to limited public resources and declining international development aid.

private Sector to Fill Infrastructure Gaps

Minister Lan Foan emphasized the urgency of “mobilizing the potential of private capital for cross-border infrastructure and building sustainable financing mechanisms” during the Beijing meeting. The need for private investment is amplified by the current global economic slowdown and reduced international aid, which has left many developing countries struggling to fund essential connectivity projects.

Did You Know? In 2024, global foreign direct investment (FDI) flows decreased by 2% to $1.3 trillion, according to UNCTAD, highlighting the increasing importance of domestic private investment in infrastructure projects.

New Law to Spur Private Investment

China’s recently enacted Private Economy Promotion Law, effective last month, is designed to incentivize private enterprises to invest in infrastructure. The law aims to create a more welcoming environment for private sector involvement in cross-border connectivity projects by improving relevant systems and regulations. This legislative push reflects China’s commitment to leveraging private capital to drive infrastructure development [2].

Addressing Investor Concerns

To foster confidence and encourage private sector investment, Minister Lan Foan stressed the importance of mitigating concerns related to geopolitical risks and potential defaults. He also advocated for enhancing the ratings and expected returns of infrastructure projects through closer collaboration with regional development institutions. These measures are crucial to attracting private capital and ensuring the long-term success of infrastructure initiatives.

Pro Tip: Public-private partnerships (PPPs) can be structured to share risks and rewards, making infrastructure projects more attractive to private investors.

Overcoming Public Investment Bottlenecks

The increased mobilization of private capital is expected to alleviate the constraints imposed by insufficient public investment in infrastructure development. By tapping into private resources, China aims to accelerate infrastructure projects and stimulate economic growth. Research indicates that infrastructure investment can significantly boost firm productivity, especially for private firms in sectors benefiting from improved market access [1].

according to a government work report submitted to the national legislature in March 2025, China will actively support and guide private investment towards major infrastructure and public wellbeing projects [3].

Key Initiative Description Expected Outcome
Private Economy Promotion Law Encourages private enterprises to invest in infrastructure. Increased private sector participation in infrastructure projects.
AIIB Support Focuses on cross-border connectivity initiatives. Enhanced regional infrastructure and economic integration.
Risk mitigation addresses concerns about geopolitical risks and defaults. Greater investor confidence and willingness to invest.

The Impact of Infrastructure Investment

The impact of infrastructure investment on firm productivity is significant. A study showed that after implementing specific clauses aimed at improving market conditions, the positive effect of infrastructure investment on private firm productivity increased significantly [1]. This highlights the critical role of infrastructure in fostering economic growth and development.

What innovative financing models could further encourage private investment in infrastructure? How can governments and private entities collaborate more effectively to ensure the success of these projects?

Evergreen Insights: The Enduring Importance of Infrastructure Investment

Infrastructure investment has long been recognized as a cornerstone of economic development. From ancient Roman roads to modern high-speed rail networks, infrastructure facilitates trade, connects communities, and drives economic growth. In today’s interconnected world, strategic infrastructure investments are more critical than ever for fostering sustainable development and global competitiveness.

FAQ: Private Investment in Infrastructure

  • Why is private investment vital for infrastructure?

    Private investment helps bridge funding gaps and brings efficiency and innovation to infrastructure projects.

  • What are the main challenges to attracting private investment?

    Geopolitical risks, regulatory uncertainty, and concerns about returns are key challenges.

  • How can governments encourage private investment?

    Governments can offer incentives, streamline regulations, and provide risk mitigation mechanisms.

  • What types of infrastructure benefit most from private investment?

    Transportation, energy, and telecommunications projects are often well-suited for private investment.

  • What role does the AIIB play in infrastructure development?

    The AIIB supports infrastructure projects in Asia, promoting economic and social development.

Share your thoughts on the role of private investment in infrastructure development! Subscribe to World Today news for more updates.

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News

G20 agrees to promote “innovative” financial mechanisms

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Rio de Janeiro. The G20 countries committed this Thursday in Brazil to promoting “innovative” financial mechanisms to confront the climate emergency, at a time when a wave of record fires hits the Amazon, the largest rainforest in the world.

“Human and environmental losses around the world make clear the urgent need to take greater measures to respond to the new global reality,” says the declaration approved by the environment ministers of the world’s 20 largest economies at the close of a meeting in Rio de Janeiro.

“The impacts of climate change are already being felt around the world, affecting vulnerable regions and countries most severely, with unprecedented flooding, extreme droughts, above-average heat waves and other events that we are not yet fully aware of.” prepared to face,” the text adds.

With 80 percent of the world’s population, the G20 accounts for about 80 percent of carbon emissions and 75 percent of waste generation.

The Brazilian environment minister, Marina Silva, stated that the G20 countries have “a great responsibility” and must “lead the confrontation with the climate crisis.”

Brazil, which this year chairs the G20, was hit by historic floods in the southeast region in May, and is currently going through a wave of record fires fueled by unprecedented droughts.

These extreme events are favored by climate change, according to experts.

The mobilization of financial resources to mitigate global warming has been at the center of the G20 discussions, which will conclude with the summit of heads of state and government on November 18 and 19 in Rio.

“To achieve these goals, we will consider innovative economic tools, such as payments for ecosystem services (…) among others, soil fertility, erosion control, pollination and water supply,” the statement says.

Brazil wants to promote the Tropical Forests Forever Fund (TFFF), a “complex” investment instrument that aspires to be operational next year, when the Brazilian city of Belem hosts the COP30 climate change.

In mid-September, the G20’s environmental efforts were called into question by environmental organizations, which denounced the group’s lack of commitment to move towards a transition that eliminates the use of fossil energy.

The criticism was based on a draft of the climate declaration that the G20 will present in Washington after a ministerial meeting at the end of October, which omits to mention fossil fuels.

“A G20 statement without even mentioning the transition away from fossil fuels (…) by the 20 most powerful economies on the planet, would create a worrying precedent,” said Maria Victoria Emanuelli, of 350.org.


#G20 #agrees #promote #innovative #financial #mechanisms
–

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Business

BNI Boss Warns of VUCA Effects After the high interest period is over, what is it?

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com


Jakarta –

The President Director of PT Bank Negara Indonesia (Persero) Tbk or BNI, Royke Tumilaar said that the COVID-19 pandemic and the era of high interest rates is over. Nevertheless, he warned that the global economy will continue to face VUCA conditions in the future (volatility, uncertainty, complexityand ambiguity).

This abbreviation describes the global conditions that are felt at the moment, where changes are happening very quickly, difficult to predict, influenced by many factors and reality is very subjective.

“Although the pandemic and the era of high interest rates have ended, the global economy is still facing a VUCA or instability, uncertainty, complexity, and ambiguity“, said Royke at the BNI Investor Daily Conference at the Jakarta Convention Center (JCC), Tuesday (8/10/2024).

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Royke believes that geopolitical risks remain high. In addition, the International Monetary Fund (IMF) and the World Bank (World Bank) believe that the average global economic growth will be lower than the period before the COVID-19 pandemic.

“At the same time, the world must embrace megatrends such as digitization, climate change, inclusive and sustainable economic challenges,” he said.

Among these issues, according to Royke, Indonesia has a strong economic base supported by good political stability. Although what has been achieved so far is not enough to introduce Indonesia Gold in 2045.

“In 2024, Indonesia will register the second highest economic growth among the G20 countries after India, fiscal discipline is still maintained, as reflected in the government debt to GDP that will reach 39.4% , lower than the average of other developing countries. monetary policy and “Policy coordination is evident from improving macro stability going into the second semester,” he explained.

Royke said there are still structural challenges in the medium term that need to be addressed, such as creating added value in the established economic sector, education reform, improving the quality of human resources (HR), making the best use of place of the manufacturing industry. , and creating more inclusive and sustainable economic growth.

“BNI will always be proactive in capitalizing on this year’s positive economic growth trend and we will make the most of the 2024 BNI Investor Daily Conference to explain BNI’s role in the midst of pre- challenges facing Indonesia, as well as supporting various government programs. in achieving sustainable economic growth,” he concluded.

(aid/ara)

2024-10-08 03:20:08
#BNI #Boss #Warns #VUCA #Effects #high #interest #period

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Business

G20 agrees to debate taxing billionaires’ wealth

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

For the primary time in historical past, there’s a consensus among the many G20 nations – which teams the twenty largest economies on the planet – on the necessity to tax the wealth of billionaires, which is “an necessary step in the best route,” celebrated Gabriel Zucman, writer of the proposal that Brazil introduced to its friends to attain a world minimal tax on massive private fortunes.

“We have to embrace a brand new period of multilateralism, placing the battle towards inequality at its coronary heart. The established order, during which the largest winners of globalization can benefit from the lowest tax charges, is solely not sustainable,” the economist burdened, after the G20 Finance Ministers signed the G20 Ministerial Declaration on Worldwide Tax Cooperation, Rio de Janeiro

The significance of this declaration is predicated on the dedication made by the G20 nations to collaborate “to make sure that individuals with very excessive internet value pay taxes successfully”; on this regard, Zucman thought of that the mere truth {that a} joint declaration was signed 5 months after the difficulty was put up for dialogue is a step ahead.

Particularly when you think about that it took the G20 not less than eight years to acknowledge that “rampant tax avoidance” by multinationals is an issue; and it was solely in 2021 {that a} world minimal tax was agreed. Now, the Rio de Janeiro declaration factors out that “aggressive tax avoidance or evasion by very excessive internet value people can undermine the equity of tax programs, resulting in diminished effectiveness of progressive taxation.”

Brazil’s proposal, supported by the G20, is predicated on the work of Zucman, who reported that billionaires solely pay an efficient tax of 0.3 p.c of their wealth, so it’s proposed {that a} minimal charge of two p.c be achieved via worldwide cooperation. In keeping with the economist’s projections, taxing 3,000 individuals with wealth exceeding one billion {dollars} would generate between 200 and 250 billion {dollars} a 12 months.

Zucman stated he was optimistic {that a} minimal tax on the ultra-rich would turn into a actuality. “It’s possible, as a result of we will construct on the numerous advances in worldwide tax cooperation achieved within the final 10 years, and there’s overwhelming fashionable demand in all places for a fairer tax system,” he stated.


#G20 #agrees #focus on #taxing #billionaires #wealth
– 2024-07-28 10:00:09

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