Why One Nation is Selling Passports to Deal with Climate Change
The remote Pacific Ocean nation of Nauru is selling citizenship to protect their populations from the escalating impacts of climate change. President David Adeang says his nation will not wait for the waves to wash away infrastructure. Nauru aims to raise an initial $65 million. David Stringer discusses how this will help meet the cost of moving about 10,000 residents from low-lying homes menaced by rising sea levels and floods on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Gold Extends Advance After Israel Attacks Iran's Nuclear Program
(Bloomberg) -- Gold advanced alongside other financial assets after Israel conducted airstrikes targeting Iran's nuclear sites, raising concerns over an escalation of hostilities in the Middle East. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire Bullion climbed as much as 1.3% following news of the attacks. Explosions were heard in Tehran, according to videos and local media, and Israeli Defense Minister Israel Katz said the nation was anticipating a retaliatory strike from Iran. The US said it was 'not involved' in the operation. The move higher extended a two-day gain, after weak US inflation and jobs data fueled bets that the Federal Reserve will lower interest rates later this year. A report on Thursday showed US producer price inflation remained muted in May, while a separate print showed recurring applications for unemployment benefits rose to the highest since the end of 2021. Gold has rallied 30% this year, with investors increasingly seeking safety in the haven asset due to concerns over President Donald Trump's aggressive trade policy and geopolitical tensions, including in Ukraine. Strong demand from central banks and sovereign institutions has also supported prices. Israel's attack on Iran followed repeated warnings from Prime Minister Benjamin Netanyahu about striking the OPEC producer and crippling its nuclear program. US and Iranian negotiators are scheduled to hold a round of talks in Oman on Sunday about Tehran's atomic program, but Trump said this week that he's less confident about the chances of a deal. Spot gold was 1.1% higher at $3,424.59 an ounce as of 9:25 a.m. in Singapore. The Bloomberg Dollar Spot Index rose 0.2%. Silver was little changed, platinum tumbled and palladium was lower. American Mid: Hampton Inn's Good-Enough Formula for World Domination New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P. 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
Business Upturn
an hour ago
- Business Upturn
Stock Market Updates: Gift Nifty falls 250 points as Israel strikes Iran
By Aditya Bhagchandani Published on June 13, 2025, 06:52 IST Gift Nifty plunged over 241 points on Friday morning, falling 0.97% to 24,756 as global and domestic concerns rattled investor sentiment. The early weakness comes after Israel conducted airstrikes on Iran, dramatically escalating tensions in the Middle East and raising fears of a broader regional conflict. According to reports by Bloomberg, explosions were heard in Tehran after Israel launched what it described as a 'preemptive strike' against Iran's military infrastructure. Israeli Defense Minister Israel Katz declared a 'special state of emergency,' anticipating retaliatory missile and drone attacks from Iran. The sudden deterioration in geopolitical stability has sent shockwaves across global markets. Closer home, investor sentiment has also been shaken by the tragic crash of Air India's Dreamliner flight AI171 in Ahmedabad. The incident claimed over 317 lives, including all 242 on board and at least 75 civilians in residential flats struck by the falling aircraft. The psychological impact of the disaster has extended beyond the aviation sector, casting a shadow on broader market confidence. With both global tensions and local tragedy at play, market watchers are bracing for increased volatility across sectors in the coming sessions. Disclaimer: The information provided in this article is for informational purposes only and is based on publicly available sources, including official statements and news reports. Market data, casualty figures, and geopolitical developments are subject to change as more verified updates become available. Readers are advised to refer to official authorities and financial experts before making any decisions based on this content. The publisher does not assume any responsibility for the accuracy or completeness of the information presented. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
an hour ago
- Yahoo
Israel Attacks Iran's Nuclear Program in Major Escalation
(Bloomberg) -- Israel launched airstrikes against Iran's nuclear program and military targets, a major escalation in the standoff between the two adversaries that risks sparking a new war in the Middle East. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? NY Long Island Rail Service Resumes After Grand Central Fire Explosions were heard in Tehran, according to videos and local media. An Israeli military official told reporters that dozens of strikes are being conducted across Iran. The official said Israel had evidence Iran had been planning an attack on the Jewish state. The US was 'not involved' in Israel's strikes, Secretary of State Marco Rubio said in a statement. He described Israel's action as 'unilateral.' Rubio warned Iran against targeting US interests or personnel in retaliation. Oil surged. Brent rose around 7% as of 9 a.m. in Singapore, jumping above $74 a barrel, while West Texas Intermediate also rallied. Israeli Defense Minister Israel Katz said he's declaring a state of emergency due to Israel's 'preemptive strike against Iran,' which he said involved drones and missiles. The attack came after repeated warnings by Prime Minister Benjamin Netanyahu about striking Iran and crippling its nuclear program. Earlier on Thursday, Iran had said it would inaugurate a new uranium-enrichment facility in response to censure by the UN atomic watchdog over its nuclear program. The Israeli operation poses the first major foreign-policy crisis of US President Donald Trump's second term, after he had repeatedly urged Netanyahu not to proceed with a strike. US and Iranian negotiators are scheduled to hold a sixth round of talks in Oman on Sunday, but Trump said this week he's less confident about the chances of a deal. Israel is already involved in a major military operation in Gaza where it's been bombarding and blockading the population for the past 20 months as it tries to destroy Hamas following the group's deadly attack on the Jewish state on Oct. 7, 2023. The Palestinian group is designated a terrorist organization by the US and European Union. Iran and Israel have been locked in a shadow war for decades with Iran — which doesn't recognize the state of Israel — using proxy forces such as Hezbollah in Lebanon, Hamas in Gaza and the Houthis in Yemen to attack Israel. Israel has in turn been accused of being behind a series of assassinations and covert attacks on Iranian soil, many of them targeting nuclear scientists. The two countries exchanged direct blows for the first time last year after tensions surged following the Oct. 7 attacks. The most recent ones were in October, when Israel struck Iranian air defenses and a missile factory in retaliation for an strikes from Tehran. --With assistance from Nick Wadhams and Jon Herskovitz. (Updates with more details throughout.) American Mid: Hampton Inn's Good-Enough Formula for World Domination New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom As Companies Abandon Climate Pledges, Is There a Silver Lining? ©2025 Bloomberg L.P. Sign in to access your portfolio
