Bangladesh is preparing to take an alternative route to strengthen its trade ties with Russia, bypassing the US sanctions on the latter. As part of it, the Bangladesh Bank has taken an initiative to enter into a bilateral swap agreement with the Central Bank of Russia. The currency swap deal will enable both the countries to exchange their local currencies against any third currency except the US dollar between them. There will be no need for introducing correspondent banking between the two countries for export and import activities. The proposed swap agreement has been drafted following a team of Bangladesh Bank officials' visit to Russia. On Sunday, a meeting, chaired by Commerce Secretary Jafar Uddin, decided to form a committee to review the possible impact of the agreement, taking into account the global trade situation and Russia-US relations. If the agreement is signed, this will be Bangladesh's first currency swap deal with a country. China, the world's second-largest economy, has also offered to sign a swap agreement with Bangladesh. China has signed bilateral currency swap deals with 11 countries, but results are lacklustre thus far, said Bangladesh Bank officials.
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.