Oil and gas producers in the Middle East and North Africa have been a cornerstone of the global energy system for decades, recently accounting for about 50% of oil exports and 15% of natural gas exports worldwide. As markets tighten due to lost supplies from Russia following its invasion of Ukraine, Middle Eastern and North African producers with a long track record of providing stable energy supplies could play a vital role in averting global shortages.  

But this near-term increase in demand for oil and gas from non-Russian suppliers contrasts with the need for longer-term structural declines in global fossil fuel use as energy systems transition towards cleaner energy sources. The immediate incentives facing producers amid today’s crisis could lead to longer-term investments that are inconsistent with sustainable energy pathways. How can these tensions be reconciled?

The producer economies of the Middle East and North Africa have various options to...

American buyers are house hunting in France, motivated by a strong dollar and spare cash.

Searches for French properties by US-based buyers jumped 37% in the first five months of 2022 compared to the same period last year, according to real estate company Knight Frank, with Paris, Provence, the French Riviera and southwest France among the most sought-after areas. 

The UK is taking steps to extend the recognition of securitisations designated as simple, transparent and standardised in the EU for two more years as it works on an equivalence regime for deals from around the world.

The proposed extension was included in a draft law that was published on July 5 and recently picked up by lawyers at Morgan Lewis, who wrote in an update on August 9 that it would be welcomed by market participants.

Securitisations that qualify as STS benefit from favourable capital treatment on bank and insurance company balance sheets, boosting demand for the bonds. The rules were finalised by the EU in 2019, after years of debate.

The framework was copied into UK law when the nation left the EU and has gone through several amendments since the end of the Brexit transition period, including one to allow transactions designated as STS in Europe to qualify automatically as STS in the UK for the entire lifespan of the deal.

Originally, this...

PARIS, Aug 11 (Reuters) - The head of the European Space Agency (ESA) has warned economic damage from heatwaves and drought could dwarf Europe's energy crisis as he called for urgent action to tackle climate change.

Director General Josef Aschbacher told Reuters successive heatwaves along with wildfires, shrinking rivers and rising land temperatures as measured from space left no doubt about the toll on agriculture and other industries from climate change.

"Today, we are very concerned about the energy crisis, and rightly so. But this crisis is very small compared to the impact of climate change, which is of a much bigger magnitude and really has to be tackled extremely fast," he said.

Authored by Richard Rosso via RealInvestmentAdvice.com,

Ivana Trump, the first wife of Donald Trump, was recently found dead in her Manhattan residence. She was 73.

Known throughout her life as a dynamo socialite and dealmaker in heels, her death from a blunt trauma from a fall down the stairs in her multi-story townhome, was a shock to residents who perceived her as vibrant and full of life. So, her passing got me thinking about Ivana Trump’s money lessons for older Americans.

Swiss insurance company Zurich today posted its highest first-half profits since the financial crash of 2008 and its second highest profits ever.

The insurer said its business operating profits increased 25 per cent compared to last year to long-term highs of $3.393bn.

The uptick in Zurich’s profits, which saw it second best results ever, came on the back of a 32 per cent uptick in profits from the Swiss insurer’s property and casualty business.

The 32 per cent uptick, as a result of higher premiums and lower weather and natural catastrophe related claims, saw profits from Zurich’s property and casualty division jump to $2.055bn.

The higher profits were however partially offset by a $51m loss from Zurich’s hedge fund portfolio due to the “adverse financial markets”.

Profits from Zurich’s life insurance business also increased 13 per cent, to $903m, as a drop in Covid-19 claims in the insurer’s Europe, Middle East, and Africa business...

Investor M&G reported its profits had slumped by nearly half in the first six months of the year after it was rocked by “adverse market movements” and soaring inflation. 

Pre-tax profits at the Lodon-listed investment manager hit £182m at the end of June, down from £327m in the same period last year, as assets under management fell by £21.1bn to £348.9bn.

Total capital generation also plunged to £24m, down from £86m last year as a result of increasing yields and falling equity markets.

Bosses said they were encouraged by a boost in inflows however, with net inflows hitting £1.2bn, reversing £2bn in net outflows.

“This is an encouraging set of results and provides evidence that M&G is continuing to build momentum,” said John Foley, chief executive of the firm.

“Improved client flows underpinned a resilient operational and financial performance despite a period of volatility when many investors reduced their exposure to...

Carol Van der Vorst will join London-based Freshfields’ leveraged finance team as a partner, according to a statement Thursday. She was most recently at rival law firm

David Bowie has been named Britain's most influential artist of the last 50 years for his ability to transcend music, film and fashion.

The Starman musician topped the Sky Arts list of 50 influential artists ahead of 12 Years A Slave Oscar-winning filmmaker Sir Steve McQueen and It's A Sin writer Russell T Davies, who revived Doctor Who in 2005.

A Las Vegas bartender coping with a recent cancer diagnosis is fearing eviction. A young professional in Tucson is skipping car payments to afford her higher rent. A researcher in Miami signed the lease for her new apartment sight unseen. 

Rental costs in the US are soaring at the

Twitter is the place to find real-time, reliable information about the 2022 midterms  – whether you’re looking for breaking news from reporters, information on voting, or policy positions from candidates. We aim to enable healthy civic conversation on Twitter, while ensuring people have the context they need to make informed decisions about content they encounter. Because we’re a global service, there’s almost always an election happening on Twitter. 

Today, we’re announcing steps we’re taking ahead of the US midterms to protect civic conversation on Twitter. 

Our Civic Integrity Policy 

As a key part of the Twitter Rules, since 2018, our Civic Integrity Policy has helped people find credible information during elections and other civic processes — including in the Philippines, Kenya, Australia, Brazil, and India – just this year.

Today, as we do ahead of other global elections, we’re activating enforcement of our Civic...