UN CLIMATE SUMMIT HANGS ON MONEY FOR 'LOSS AND DAMAGE'

The climate change conference remained deadlocked on Thursday night over a proposal to create a new financial facility to fund countries damaged by climate disasters. The two-week annual conference is scheduled to come to an end Friday evening, but every previous edition has gone into extra time, extending as far as Sunday morning on a couple of occasions.

An Indian proposal to call for a phase-down of all fossil fuels had also run into trouble because of reservations from China and some other developing countries.

But the main fight was happening over the setting up of a new facility for loss and damage finance, the subject that has attracted the maximum attention at this meeting. The developed countries, led by the US, want loss and damage to flow through existing financial instruments, and do not support the creation of a new infrastructure. EU’s climate chief Frans Timmermans had argued on Wednesday that using existing instruments would ensure an immediate flow of funds for loss and damage, while creating a new facility could take years.

On Thursday, the G-77 and China group, the largest negotiating block at the climate conference comprising over 100 developing countries, insisted on its demand for a separate dedicated finance facility, and said it would be the key to success at this meeting. Pakistan, the current chair of the G77 plus China group, said all that the developing countries were asking for was a political statement of intent to create the new facility.

BRITISH FINANCE MINISTER REVEALS UK IN RECESSION, UNLEASHES TAX RISES

LONDON — The U.K. government on Thursday unveiled a sweeping £55 billion ($66 billion) fiscal plan as it seeks to plug a gaping hole in the public finances and restore Britain’s economic credibility, even as the country teeters on recession.

Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined around £30 billion in spending cuts and £25 billion in tax hikes.

The measures included an extra two-year freeze on income tax thresholds and a lowering of the top rate of income tax to £125,140 — moves directly opposed to the major cuts touted in September’s catastrophic mini-budget.

“Unfunded tax cuts are as risky as unfunded spending,” Hunt told the House of Commons.

Hunt said the measures would reassure markets that the government and the Bank of England are now working in “lockstep.”

“We need fiscal and monetary policy to work together,” he said. “That means the government and the Bank working in lockstep. It means, in particular, giving the world confidence in our ability to pay our debts.”

Sterling  fell against the dollar following the announcement. It was trading at around $1.1811 by 1:30 p.m. local time.

The measures will increase financial hardship on millions of Britons as they confront the country’s worst cost-of-living crisis in decades and its longest-ever recession.

However, Hunt said they were necessary to limit 41-year-high inflation and recover the U.K.’s reputation; dubbing the plan the “ultimate growth strategy.”

″We must continue a relentless fight to bring (inflation) down, including a rock-solid commitment to rebuild our public finances,” Hunt said.

Among the other measures announced were a 10% increase in the state pension, benefits and tax credits — in line with September’s inflation figure — and an increase in the National Living Wage to £10.42 an hour for those aged 23 and above.

PELOSI TO STEP DOWN AS TOP DEMOCRAT AFTER REPUBLICANS TAKE HOUSE

Nancy Pelosi, the trailblazing Democrat who as the first woman U.S. House of Representatives speaker shepherded landmark legislation and led two impeachments, said on Thursday she will give up her leadership role a day after Republicans secured control of the chamber.

Pelosi's allies quickly rallied around Representative Hakeem Jeffries as her likely successor as the top House Democrat while Republicans prepared to install a speaker from their party who is expected to impede President Joe Biden's legislative agenda. Her replacement will have to unite fractious House Democrats torn between centrists and an increasingly vocal left flank.

An 82-year-old California liberal, Pelosi made her announcement during a speech on the House floor - drawing applause from Democrats even as many Republicans decided not to attend.

She said she will not retire from the House but continue to represent San Francisco as she has done for 35 years.

"For me, the hour's come for a new generation to lead the Democratic caucus that I so deeply respect. And I'm grateful that so many are ready and willing to shoulder this awesome responsibility," said Pelosi, who has served as the top House Democrat for two decades and speaker from 2007-2011 and again from 2019 until the present.

Pelosi played a central role in shepherding the legislative agenda of two Democratic presidents through Congress, even as she was vilified by many conservatives. She helped pass President Barack Obama's signature 2010 healthcare law as well as expansions of infrastructure and climate spending and gun regulations under Biden. She also presided as the House impeached Republican President Donald Trump in 2019 and 2021.

Biden in a statement called Pelosi "the most consequential speaker of the House of Representatives in our history."

House Democrats are set to vote on their leaders on Nov. 30. Jeffries, of New York, would be the first Black lawmaker to lead one of the major parties' caucuses in Congress.

SAME-SEX MARRIAGE RIGHTS BILL CLEARS KEY SENATE HURDLE

Washington : The Senate on Wednesday took a crucial step toward passing landmark legislation to provide federal protections for same-sex marriages, as 12 Republicans joined Democrats to advance the Respect for Marriage Act, putting it on track to become law in the twilight of the Democratic-held Congress. The 62-37 votewas a rare last gasp of bipartisanship by a lame-duck Congress. It also signalled a remarkable shift in American politics and culture, demonstrating how same-sex marriage, once a divisive issue, has been so widely accepted that a law to protect the rights of same-sex couples across the country could gain decisive, bipartisan majorities in both the Senate and the House. Last summer, 47 House Republicans joined Democrats to pass a version of the bill.

Senator Chuck Schumer, the majority leader, said that passage of the legislation, now expected after Thanksgiving, would be “one of the more significant accomplishments of this Senate to date.” The measure still must win passage in the Senate, and then return to the House, which must clear it and send it to President Biden for his signature. But the legislation has overcome the biggest obstacle: the 60-vote threshold in the 50-50 Senate. The bill would repeal the Defense of Marriage Act, which denied federal benefits to same-sex couples.

ASIA SHOULD NOT BECOME ARENA FOR BIG POWER CONTEST, SAYS XI AT APEC

Bangkok : The Asia-Pacific is no one’s backyard and should not become an arena for a big power contest, China’s President Xi Jinping said on Thursday, calling on the world to reject any cold war mentality.

“No attempt to wage a new cold war will ever be allowed by the people or by our times,” Xi said in remarks prepared for a business event on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Bangkok, which he had to withdraw from due to his meetings schedule. “We should follow a path of openness and inclusiveness,” he said. “Unilateralism and protectionism should be rejected by all; any attempt to politicise and weaponise economic and trade relations should also be rejected. ”The Apec meeting follows a series of regional summits dominated by geopolitical tension over the war in Ukraine. Russia is a member of both G20 and Apec but President Vladimir Putin has stayed away. Host Thailand on Thursday said leaders gathering for the Apec forum should “rise above differences”. Xi was due to have talks with Japanese PM Fumio Kishida on Thursday .

RUSSIAN MISSILES POUND UKRAINE POWER SUPPLY

Kyiv : Missiles rained down on Ukrainian energy facilities on Thursday, as Russian forces stepped up attacks in eastern Ukraine, reinforced by troops pulled from Kherson city in the south which Kyiv recaptured last week. Explosions resounded in cities including the capital Kyiv, the southern port of Odesa, the central city of Dnipro and the southeastern region of Zaporizhzhia. As the winter’s first snow fell in Kyiv, authorities said they were working to restore power nationwide after Russia earlier this week unleashed the heaviest bombardment of civilian infrastructure of the nine-month war. President Zelensky posted video footage, apparently shot from a car cam, showing a huge blast in Dnipro that sent flames and black smoke pouring into the sky. At least 15 people were wounded in Dnipro, three in the northeastern city of Kharkiv and at least one was injured in Odesa, officials said. State energy company Naftogaz said gas production facilities in eastern Ukraine had been damaged. Other sites struck included the huge Pivdenmash defence plant in Dnipro.

GRAIN DEAL EXTENDED FOR 120 MORE DAYS

A pivotal deal that has allowed millions of tonnes of grains to be exported from Ukrainian ports through the Black Sea has been extended for an additional 120 days, Ukraine, Turkey and the UN said on Thursday, helping to ease worries of widespread hunger amid global food shortages and price spikes. Russia, the fourth party to the agreement, did not comment on the extension of the deal, which was initially set to expire on Saturday. Ukraine’s President Zelensky acknowledged efforts by UN and Turkey but did not mention Russia. “I welcome the deal by all parties to continue the Black Sea Grain Initiative,” UN secretary general Antonio Guterres said.

CANADA EXPANDS PR ROUTE TO PEOPLE IN 16 NEW OCCUPATIONS

Canada has implemented the revised national occupational classification (NOC), effective November 16, opening up doors to permanent residency under the ‘Express Entry’ route to people in 16 new occupations. It will enable Canada to bring in global talent in high-demand sectors like healthcare, construction and transport. Nurse aides, hospital attendants, elementary and secondary school teacher assistants, and transport truck drivers are examples of some of the 16 occupations now included in Express Entry. While it is too early to say, immigration experts are of the view that NOC-2021, with its revised listing, will be a huge draw for nurse aides and truck drivers from India. Kerala and Punjab are believed to be the largest source states for this occupation.

Three occupations, considered to have inconsequential impact for immigrants, will no longer be eligible for the federal Express Entry route. These are programme leaders andinstructors in recreation, sport and fitness; tailors, dressmakers, furriers and milliners.

Express Entry is Canada’s flagship point-based mechanism for skilled individuals seeking to immigrate on a longterm basis. Aspiring candidates complete an online profile, they are then entered into the Express Entry pool and are ranked relative to each other based on a score under the Comprehensive Ranking System (CRS). Post the pandemic, the all-programme express entry draws resumed only in July, the last few draws have seen the minimum eligibility scores gradually drop to below 500. For the past several years, Indians have led the charts both in terms of the number of invites issued to become permanent residents and those admitted as permanent residents. In 2021, nearly 1. 3 lakh Indians acquired permanent residency in Canada, this is 32% of the aggregate total of permanent residents admitted during this year.

Recently, Canada released its ‘2023–2025 Immigration Levels Plan’, with significant immigration targets for permanent residents – at 4. 65 lakh permanent residents in 2023; 4. 85 lakh in 2024 and 5 lakh in 2025.

MYANMAR FREES UK EX-ENVOY, PRISONERS FROM AUS & JAPAN AFTER JUNTA AMNESTY

Myanmar’s military rulers granted amnesty to Sean Turnell, an Australian economist and former adviser to democracy icon Aung San Suu Kyi, among nearly 6,000 prisoners to be freed to mark a national holiday, state media reported on Thursday.

A diplomatic source said Turnell as well as former British ambassador to Myanmar, Vicky Bowman, had been freed and had left Myanmar by plane, adding they were due to fly to Thailand. Kyodo news agency, citing sources, reported that Japanese filmmaker Toru Kubota had also been released.

The foreigners were given amnesty “for the relationship with other countries and also for humanitarian purposes”, and had been asked to leave the country, state media said.

Myanmar has been in turmoil since the military’s coup in February last year, when it arrested civilian leaders including Nobel laureate Suu Kyi, ending a decade of tentativedemocracy. Two witnesses said they saw a bus leave the notorious Insein Prison in Yangon on Thursday afternoon, with some of those named in the amnesty onboard.

CLEARING THE AIR, CHINA SAYS XI WASN’T CRITICISING TRUDEAU AT G20

Beijing : China’s foreign ministry on Thursday said Chinese President Xi Jinping was not criticising Canada’s PM Trudeau, a day after Xi was seen confronting him at the G20 meet over alleged leaks from a meeting they held. Chinese foreign ministry spokesperson Mao Ning said Beijing supports having frank exchanges as long as they are held on an equal basis. “The video you mentioned was indeed a short conversation both leaders held during the G20 summit. This is very normal. I don’t think it should be interpreted as chairman Xi criticising or accusing anyone,” Mao said.

In video published on Wednesday, a translator for Xi can be heard telling Trudeau that “everything we discussed was leaked to the paper(s), that’s not appropriate. ” Xi himself can be heard saying, “that is not appropriate”. Mao did not say why this short exchange was set up and what Xi meant. Xi’s displeasure was possibly due to reports, citing government sources, that Trudeau brought up concerns about alleged espionage and Chinese “interference” in Canadian polls when meeting with Xion Tuesday.

AFTER ELON MUSK’S ULTIMATUM, TWITTER EMPLOYEES START EXITING

Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave.

In a poll on the workplace app Blind, which verifies employees through their work email addresses and allows them to share information anonymously, 42% of 180 people chose the answer for “Taking exit option, I’m free!”

A quarter said they had chosen to stay “reluctantly,” and only 7% of the poll participants said they “clicked yes to stay, I’m hardcore.”

Musk was meeting some top employees to try and convince them to stay, said one current employee and a recently departed employee who is in touch with Twitter colleagues.

Twitter, which has lost many of its communication team members, did not respond to a request for comment.

The departures include many engineers responsible for fixing bugs and preventing service outages, raising questions about the stability of the platform amid the loss of employees.

Meanwhile, Twitter has told employees that the company's office buildings will be temporarily closed, effective immediately.

In a message seen by the BBC, workers were told that the offices would reopen on Monday 21 November.

It did not give a reason for the move.

The message went on to say: "Please continue to comply with company policy by refraining from discussing confidential company information on social media, with the press or elsewhere."

MH17: THREE GUILTY AS COURT FINDS RUSSIA-CONTROLLED GROUP DOWNED AIRLINER

A Dutch court has found three men guilty of murder for shooting down a passenger jet over eastern Ukraine in 2014, killing 298 people.

The court found that a Russian-made missile supplied from Russia and fired by an armed group under Russian control brought down flight MH17.

The men - two Russians and one Ukrainian - were found guilty in absentia and sentenced to life in jail. A third Russian was acquitted.

The missile attack was one of the most notorious war crimes in Ukraine before allegations of atrocities there became an almost daily reality.

Many of the victims' relatives believe if the world had reacted differently, and taken a tougher stance against Russia eight years ago, the invasion of Ukraine and the geopolitical instability that has followed could have been avoided.

The judges ruled that it was a deliberate action to bring down a plane, even though the three found guilty had intended to shoot down a military not a civilian aircraft.

On 17 July 2014, 298 people, including 80 children and 15 crew, boarded Malaysia Airlines flight 17 to Kuala Lumpur at Amsterdam's Schiphol Airport.

The plane was cruising at 33,000 feet over Ukraine. It was the early days of Russia's efforts to control parts of the country.