Mozambique's Maputo Port Sees Sharp Drop in Volumes After Unrest
The port, a key hub in the global trade of chrome used to make stainless steel — handled 14 million tons of cargo from January through June, said Osório Lucas, chief executive officer at the Maputo Port Development Company. That represents a 14% decline on a year-on-year basis, he said in a virtual interview on Tuesday.
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News24
21 minutes ago
- News24
Energy transitions must be just, sovereign and inclusive
Waldo Swiegers/Bloomberg via Getty Images News Ramokgopa pushes inclusive, sovereign energy transition at G20 meeting. Calls for finance reform, pragmatic tech mix, universal energy access. Notes Eskom's improving performance amid domestic energy stability efforts. Electricity and energy minister Kgosientsho Ramokgopa has called for a pragmatic, inclusive and sovereign approach to the global energy transition, telling G20 counterparts that Africa's development and energy needs cannot be sidelined in the pursuit of climate goals. Addressing delegates at the third G20 Energy Transitions Working Group meeting on Wednesday, held at Sun City in the North West, Ramokgopa said the global move to a low-carbon economy must be guided by justice, inclusion, and the right of countries to determine their own energy pathways. The transition is not only about technology. It must be about solidarity. About sovereignty. About ensuring access and opportunity. Kgosientsho Ramokgopa Ramokgopa emphasised that while renewable technologies such as solar, wind, and battery storage are crucial, they alone will not address the complex energy challenges many countries face. He urged for a 'technology-inclusive' approach that includes carbon capture, long-duration storage, and small modular nuclear reactors. 'African countries, and others with legacy baseload infrastructure and constrained grids, require flexibility. Renewables must be part of a broader strategy, not the only strategy,' he said. FINANCIAL BARRIERS Ramokgopa made a strong appeal for reforming global energy finance structures, describing current models as exclusionary and insufficient for the scale of investment needed. He noted that while political commitments to climate finance have been made, delivery remains patchy. 'We must move from pledges to execution. Finance must be a tool of inclusion, not a barrier to participation,' he said, calling for concessional and blended finance to support early-stage and localised projects, and for mechanisms to de-risk investments in high-impact but underserved areas. He argued that energy investment must also support small and medium enterprises, particularly in emerging markets, as part of building resilience and enabling economic participation. The minister's remarks follow a recent announcement by the African Development Bank (AfDB), which on 1 July approved a $474.6 million loan to South Africa for its Infrastructure Governance and Green Growth Programme. The programme is the second phase of the AfDB's support for South Africa's Just Energy Transition and aims to enhance energy security, support green industrialisation and reform the transport sector. The minister warned that structural energy poverty continues to block development across the Global South. 'Over 760 million people globally still live without electricity. More than 2.6 billion rely on unsafe fuels for cooking. These are not statistics – they are mothers, children, workers,' he said, urging the G20 to act decisively to implement Sustainable Development Goal 7. Ramokgopa welcomed past G20 efforts on clean cooking and called for further commitments, particularly in support of scalable solutions for Africa. AFRICA'S ENERGY STORY IS NOT ONE OF DEFICIT Referencing Africa's abundant resources, young population, and industrial ambitions, Ramokgopa pushed back against the notion that the continent is lagging behind. Africa is not a deficit story. It is a story of resilience and ambition. What we lack is access to affordable and patient capital Ramokgopa He urged support for the African Union's Agenda 2063 and the Africa Energy Efficiency Strategy, warning that declarations without delivery would only widen inequality. The minister reiterated South Africa's position that each country must determine its own energy trajectory, based on national priorities, energy mix, and existing infrastructure. 'There is no single model. No uniform pace. No imposed prescription,' he said, stressing the principle of energy sovereignty. ESKOM GAINS Outside of G20 discussions, Ramokgopa also noted progress at home in stabilising South Africa's electricity supply. On Tuesday, he congratulated Eskom for achieving significant improvements in its Energy Availability Factor (EAF), a key metric of power station performance. 'Eight of the fourteen power stations are registering EAFs of 70% and higher, including one performing at 91.1%. This is a remarkable improvement from the average low of 48% in early 2023,' he said. Eskom confirmed the figures in a statement, attributing the gains to a steady drop in unplanned outages and consistent implementation of its generation recovery plan. The EAF has now reached 71%, excluding additional support from Kusile Unit 6, which has not yet entered commercial operation. Ramokgopa said the focus now shifts to resolving load reduction measures and stabilising the cost of electricity. 'I do understand the urgency. Announcements will follow soon,' he said.
Yahoo
an hour ago
- Yahoo
U.S. Reaches Trade Truce With EU, May Extend China Tariff Pause
Protracted negotiations with the European Commission have come to an end, with Washington reaching a trade truce with the European Union on Sunday. The 27-member trade bloc will face 15 percent tariffs across a wide range of products and consumer goods, narrowly avoiding the 30 percent duty rate initially threatened by President Donald Trump before Friday's tariff deadline. The president, alongside European Commission President Ursula von der Leyen, revealed the framework of the deal from his Turnberry, Scotland, golf course on Sunday, calling it 'the biggest deal ever made' before walking back his comments slightly. The distinction actually belongs to Japan, which struck an agreement with the U.S. last week, he said. More from WWD White House Confirms 19 Percent Shoe Tariff Rate With Indonesia: Are China, EU, Cambodia Next? Confindustria Says 30 Percent Tariffs Could Trim 0.82 Percent Off Italy's GDP in 2027 EY Report Says Italy's GDP Could Shrink 1.4 Percent If U.S. Tariffs Hit 30 Percent 'We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15 percent,' Trump added. The EU also agreed to purchase $750 billion in energy from American sources, and plans to invest $600 billion into the U.S. economy, though details on that element of the agreement were not elucidated. The EU, by contrast, will completely lower its trade barriers. 'All of the countries will be opened up to trade with the United States at zero tariffs, and they're agreeing to purchase a vast amount of military equipment,' Trump said. Von der Leyen said the dealmaking process was 'indeed very tough.' The trade bloc had been angling in recent weeks for a lower duty rate of 10 percent. 'But we came to a good conclusion for both sides,' she added, noting that finding consensus with the U.S. will bring stability and predictability to the trade relationship, which has been marked by volatility in recent months. 'That's very important for our businesses on both sides of the Atlantic.' 'We've had a very good relationship over the years, but it's been a very one-sided transaction, very unfair to the United States, and I think both sides want to see fairness. But it's been a very, very one-sided deal that it shouldn't be,' Trump said, reiterating his stance that the trade imbalance between Europe and the U.S. must be rectified. The president noted that tariff letters to other nations that haven't yet struck deals with the U.S. are on the way, to be received by trade partners before Aug. 1. Last week, Trump hinted that Canada might be among them, saying trade officials 'haven't really had a lot of luck' negotiating. Earlier this month, Trump threatened the country with 35 percent tariffs in a letter to Prime Minister Mark Carney. Meanwhile, an exclusive report from the South China Morning Post on Sunday revealed that a short-term resolution for U.S.-China trade may be brokered shortly, with an Aug. 12 deadline looming. The Hong Kong-based news outlet wrote that the 90-day bilateral tariff pause, negotiated by Washington and Beijing trade officials in Geneva in May, is expected to be extended by another three months. Trade talks between the two nations will take place in Stockholm on Monday, sources close to the matter said. Best of WWD Pandemic Has Stoked Appetite for French Luxury, Survey Finds U.S. Sets Strategic Vision for China Trade Policy Furmark's Farm-to-Shopfloor Tracing Tags Set for International Debut Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
As Turnover Threatens Business Continuity, McLean & Company Launches Framework to Help Organizations Identify and Retain At-Risk Talent
With employee turnover increasingly recognized as a strategic risk, global HR research and advisory firm McLean & Company has released new research to help organizations proactively retain key talent. The Guide to Assessing Flight Risk of Key Talent offers a practical, data-informed framework to identify early warning signs, understand root causes, and implement targeted retention strategies before critical employees choose to leave. TORONTO, July 30, 2025 /PRNewswire/ - As organizations grapple with restructuring, tighter budgets, and heightened employee expectations, the risk of losing high-performing or high-potential employees is more than just a challenge for HR – it's becoming a serious concern for business continuity. To address this, McLean & Company has released research insights and expert guidance to help organizations understand and retain the talent that matters most. The HR research and advisory firm's new guide, Guide to Assessing Flight Risk of Key Talent, provides HR teams and managers with a clear and customizable framework for identifying warning signs, understanding root causes, and developing targeted retention strategies to protect organizational performance and talent retention. "Every employee departure has a story – but too often, that story is only told in the exit interview, or not at all," says Molly Woudenberg, project manager, HR Research & Advisory Services, at McLean & Company. "This guide flips that narrative. It equips organizations to identify turnover risk factors earlier and respond with empathy, clarity, and action." Voluntary turnover continues to pose a serious risk to organizational performance. According to McLean & Company's 2025 HR Trends Survey, organizations with low voluntary turnover (10% or below) were significantly more likely to report strong performance against their strategic objectives. Yet many organizations continue to rely on ad hoc or informal assessments of employee flight risk, which lack the structure and accuracy needed to intervene early, leaving leaders unaware until it's too late. McLean & Company's research emphasizes that while some turnover is expected, a large proportion can be anticipated and addressed with the right data and interventions. The consequences of losing key talent extend well beyond hiring costs, resulting in lost productivity, specialized skills, and institutional knowledge. In a labor market where top performers have a range of options, the solution for retaining key talent has evolved beyond just preventing exits to creating conditions that make people want to stay. Key Takeaways from McLean & Company's Research for Assessing Flight Risk of Key Talent: Subjective assessments are no longer enough. Informal evaluations often lack consistency and accuracy. McLean & Company's framework in its recently published Guide to Assessing Flight Risk of Key Talent ensures a reliable, scalable approach that aligns with organizational culture and data maturity. Flight risk is multifaceted. Signs include behavioral indicators like reduced motivation or increased absenteeism stemming from root causes such as stalled career growth, low recognition, or lack of trust in leadership. Stay conversations are essential. Proactive discussions help surface what employees need to feel supported and uncover gaps before disengagement becomes visible. HR must lead with both insight and empathy. Monitoring risk isn't just about prediction; the firm advises that it's also an opportunity to provide meaningful support and reaffirm the organization's investment in its people. McLean & Company's guide outlines a three-step process for assessing and addressing turnover risk: Prepare to AssessHR and senior leaders define the scope, timing, and criteria for the assessment, prioritizing roles essential to strategic goals. Key data inputs include employee performance trends, promotion history, tenure, absenteeism, and engagement signals. Conduct the AssessmentManagers analyze a combination of quantitative and qualitative data, guided by flight risk criteria such as job satisfaction, career development, recognition, and relationships. Structured "stay conversations" are used to uncover concerns that may not surface through data alone. Mitigate and Monitor RiskFor employees assessed as high flight risk, HR and managers co-create tailored retention plans – ranging from career development opportunities to workload adjustments or flexible arrangements – along with contingency plans in case of departure. Flight risk is revisited regularly, especially following major organizational changes. By formalizing the assessment of flight risk, organizations can shift from reactive backfilling to talent stewardship. McLean & Company's research insights and guide have been published to empower HR leaders and managers to uncover the hidden drivers of turnover, tailor interventions to individual needs, and build a culture of trust and transparency. To learn how your organization can proactively identify and retain key talent, access Guide to Assessing Flight Risk of Key Talent. To support implementation, McLean & Company offers a dedicated workshop to help HR leaders apply the framework in their own organizational context. Learn more about the workshop here. Media Inquiries for HR Analysts and Experts For media inquiries or to connect with McLean & Company analysts for exclusive, research-backed insights on human resources, talent retention, and employee experience, please contact Communications Manager Katie Tame at ktame@ About McLean & Company McLean & Company pairs evidence-based research and immediately applicable tools with deep HR expertise to position organizations to meet today's needs and prepare for the future. The global HR research and advisory firm's member organizations enjoy comprehensive resources, full-service diagnostics, workshops, action plans, and advisory services for all levels of HR professionals, from executive leadership to HR leaders to HR team members, that help shape workplaces where everyone thrives. McLean & Company is a division of Info-Tech Research Group. Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact ktame@ View original content to download multimedia: SOURCE McLean & Company Sign in to access your portfolio
