Latest news with #1960
Business Insider
6 days ago
- Politics
- Business Insider
Ghana's OSP charges former NPA boss over GH₵280m extortion and money laundering scheme
The Office of the Special Prosecutor (OSP) has formally charged the former Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, along with nine others, over their alleged involvement in a wide-ranging extortion and money laundering operation valued at over GH₵280 million. The Office of the Special Prosecutor charged Dr. Mustapha Abdul-Hamid and nine others with corruption-related crimes. The allegations involve extortion and money laundering activities valued at over GH₵280 million. Investigations revealed illicit financial dealings and abuse of official authority between 2022 and 2024. According to a statement issued on Thursday, 17 July 2025, the charges stem from investigations launched in late 2024 into the unlawful diversion of public funds and alleged collusion with oil marketing and bulk distribution firms. A total of seven individuals and three companies face 25 charges, including extortion by a public officer and money laundering. List of accused individuals and entities The individuals and corporate bodies charged are as follows: Details of the Alleged Scheme The OSP revealed that between 2022 and December 2024, Dr Abdul-Hamid, Amuah, and Newman , leveraging their official positions, allegedly orchestrated a criminal enterprise that extorted GH₵280,516,127.19 from petroleum transporters and oil marketing companies. The scheme, according to investigators, was initiated by Dr Abdul-Hamid and operationalised by Amuah and Newman. It was described as having 'no legal basis' and constituted a blatant abuse of office. The OSP further stated that 'from the proceeds of this unlawful scheme, Jacob Amuah delivered GH₵24 million in cash directly to Dr Abdul-Hamid between January and December 2024.' In addition, 'GH₵227.2 million was reportedly transferred through Wendy Newman, acting under Amuah's direction, for further disbursement.' Use of shell companies and money laundering allegations The investigation also uncovered that the remaining accused individuals , Ankrah, Mensah, Bediako-Mensah, and Acquaah , allegedly collaborated with a fugitive director of Kel Logistics Limited to establish three shell entities: Propnest Limited, Kel Logistics Limited, and Kings Energy Limited. These companies were used to launder the illicit proceeds. The OSP's statement noted: 'The laundered funds were used to acquire and construct residential properties, purchase trucks for petroleum haulage, and establish fuel stations , all with the aim of concealing the criminal origins of the funds.' Charges and court proceedings All ten accused parties face the following 25 charges: Extortion by a Public Officer, contrary to Section 151 of the Criminal Offences Act, 1960 (Act 29) Conspiracy to Commit Money Laundering, contrary to Section 23 of Act 29 and Sections 1(1), 1(2), and 4 of the Anti-Money Laundering Act, 2020 (Act 1044) Money Laundering, contrary to Sections 1(1), 1(2), and 4 of Act 1044 One Osei Tutu Adjei, a director of one of the implicated companies, is currently on the run and being pursued by authorities. The arrested individuals are expected to appear before the court on a date yet to be determined, at which point their pleas will be heard.
Arab News
05-07-2025
- Science
- Arab News
Turning ocean preservation into an economic windfall
In 1960, my father, Jacques Piccard, reached the bottom of the Mariana Trench, almost 11,000 meters (36,000 feet) below sea level. The mission was not to make headlines, but to disprove a dangerous misconception. Some experts had claimed that no life could survive in the crushing darkness of the ocean's depths, and that assumption had led to proposals to use the deep sea as a dumping ground for nuclear waste. But my father and his team encountered living fish — a discovery that prevented a potentially catastrophic mistake. My father's mission underscores what exploration has always meant to my family. It is not about conquest and domination, but rather curiosity and understanding. Studying nature expands not only the frontiers of our knowledge, but also the scope of our responsibility as planetary stewards. Today, the ocean is under greater threat than ever. Despite decades of warnings, mankind continues to treat the ocean as an inexhaustible resource and a bottomless dumping ground. We are suffocating it with plastic, heating it with emissions, poisoning it with chemicals, and depleting it by overfishing. But the biggest danger is subtler: As was true in 1960, there is a glaring gap between what we know and what we are doing. While we speak of binding treaties and ambitious targets, our actions remain fragmented and insufficient. Even as the ocean's degradation accelerates, governments often take refuge behind the complexity of global consensus-building, using it as an excuse for inaction. As a result, fishing vessels engaged in illegal practices, such as destructive bottom trawling in marine protected areas, are still permitted to sell their catch freely in ports and markets. Although regulations exist, enforcement is weak, sporadic, or simply absent. But we cannot afford to wait for the perfect implementation of perfect treaties. Nor should we use others' failure to address the problem as an excuse for our own inaction. After all, we already know the solutions, and we have the tools to pursue them. What is missing is the will. The spirit of exploration must guide us toward regeneration, not exploitation. Bertrand Piccard At the Solar Impulse Foundation, we have identified more than 1,800 clean and profitable strategies and tools that reconcile economic growth with environmental preservation. Many focus on strengthening regenerative and sustainable practices in the blue economy — from technologies that track illegal fishing and monitor vessel movements from space, to innovations in low-carbon shipping, plastic waste prevention, and regenerative aquaculture. Our recent Ocean Opportunity Guide, mapping ocean-focused innovation, shows just how broad and mature these solutions are. From bio-enhancing concrete that supports marine life to seaweed-based alternatives to single-use plastic and traceability platforms that eliminate greenwashing in seafood value chains, these are not theoretical models; they are real tools already being deployed around the world. Behind them stands a growing ecosystem of entrepreneurs, scientists, and engineers. Equally, new financial mechanisms are emerging to bridge the gap between innovation and scale. Blended finance structures, results-based payments, and de-risking vehicles are beginning to unlock capital for nature-based solutions and sustainable aquaculture, particularly in vulnerable coastal economies. These developments show that diverse stakeholders, when aligned, can build an innovation ecosystem capable of solving one of the world's most complex challenges. The solutions we highlight are tested, scalable, and economically sound. They do more than protect ecosystems; they also create jobs, stimulate new markets, and reduce long-term operational risk. Clean innovation in the ocean economy is already generating competitive advantages for forward-looking companies and countries. Financial instruments that de-risk nature-based investments are helping to stabilize coastal economies and expand access to new forms of capital. And circular-economy solutions like seaweed-based packaging and marine-life-friendly infrastructure are not only reducing environmental harm, but also lowering material costs and strengthening supply-chain transparency. In short, ocean preservation is becoming an engine of industrial renewal and geopolitical resilience. As an economic development strategy, it is both future-proof and inclusive, and it appeals to investors, entrepreneurs, and policymakers alike. But to unlock this potential, we must change the narrative. Sustainability is not about sacrifice; it is about modernization, innovation, and efficiency. Far from an environmental constraint, ocean preservation is a catalyst for a more dynamic, resilient global economy. As such, it should be recognized as the new frontier of exploration. Our task is to discover not uncharted depths, but better systems. Like the entrepreneurs featured in the Ocean Opportunity Guide, we should all be questioning what we have built and considering how it could be improved. The spirit of exploration must guide us toward regeneration, not exploitation. It must inspire us to stop waiting for others, and to start demonstrating the leadership that this moment demands.
Yahoo
29-06-2025
- Business
- Yahoo
Social Security Full Retirement Age Is Rising — 4 Things To Do Now If You Plan To Retire in 2026
The full retirement age (FRA) — that is, the age when you can collect your full monthly Social Security benefit — used to be 65 for most people. Now, if you were born in 1960 or later, the FRA is 67. Read More: Find Out: This isn't exactly a new change, but if you plan to retire next year and fall a little short of the full retirement age, your Social Security benefit will likely be smaller than anticipated. Even retiring just one year early — at the age of 66 — would decrease your benefit amount by 6.7%. Retire at 65, and your benefit drops by 13.3%. So, what can you do if you're planning to retire next year to set yourself up for success? Here are a few options. Depending on when in 2026 you plan to retire, you have anywhere from about six months to 18 months to figure out how you'll handle a potentially reduced benefit (assuming you're retiring before the full retirement age). If you don't want to wait, Ryan Monette, CFP and member-owner at Savant Wealth Management, suggested doing two things right now: Building your cash reserves now Focus on growing your investment portfolio How you go about doing this is up to you. For example, you could take on a side gig to increase cash flow. According to Forbes, the average side hustle brings in about $12,689 annually — or $1,057 a month. Depending on your retirement timeline, that's between $6,342 and $19,026 of extra money potentially coming in. Of course, you could also pad your investments using this extra cash. It might not fully cover what you need, but it can help if you're planning to wait to collect Social Security until the FRA. Discover Next: The further away you are from full retirement age, the smaller your overall benefit will be. But if you're dead-set on retiring — and you're not 67 — consider delaying your benefits. 'Delaying Social Security could have a significant long-term positive impact on the total Social Security benefits received over a lifetime,' said Monette. 'This is because the monthly benefit will be larger, and the larger monthly benefit will receive cost-of-living adjustments, which means more dollars for the recipient.' If you can, find a way to live on your cash reserves and investments until you reach the full retirement age. After that, you can start collecting Social Security without the reduction. Did you know that you can voluntarily suspend your Social Security benefits? You'll need to have reached the full retirement age, but still be under 70 years old. If you meet these criteria, you can earn 'delayed retirement credits' for the months you've suspended yours. 'Voluntarily suspending Social Security will create a larger benefit in the future because delayed benefits earn 2/3 of 1% per month, or an 8% increase for every 12 months delayed from FRA to age 70,' said Monette. You'll have to start collecting once you turn 70. If you're a business owner with an S Corp, now's a good time to look into how you've structured yours. In particular, try to find a balance between the business income and the wages you earn. 'Wages pay FICA taxes, and the amount of FICA taxes impacts your future Social Security retirement benefits,' said Monette. 'The greater the wages you earn up to a point translates into greater Social Security received in the future.' Speak with your accountant — if you've got one — about your options. More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on Social Security Full Retirement Age Is Rising — 4 Things To Do Now If You Plan To Retire in 2026 Sign in to access your portfolio
Yahoo
29-06-2025
- Business
- Yahoo
Social Security Full Retirement Age Is Rising — 4 Things To Do Now If You Plan To Retire in 2026
The full retirement age (FRA) — that is, the age when you can collect your full monthly Social Security benefit — used to be 65 for most people. Now, if you were born in 1960 or later, the FRA is 67. Read More: Find Out: This isn't exactly a new change, but if you plan to retire next year and fall a little short of the full retirement age, your Social Security benefit will likely be smaller than anticipated. Even retiring just one year early — at the age of 66 — would decrease your benefit amount by 6.7%. Retire at 65, and your benefit drops by 13.3%. So, what can you do if you're planning to retire next year to set yourself up for success? Here are a few options. Depending on when in 2026 you plan to retire, you have anywhere from about six months to 18 months to figure out how you'll handle a potentially reduced benefit (assuming you're retiring before the full retirement age). If you don't want to wait, Ryan Monette, CFP and member-owner at Savant Wealth Management, suggested doing two things right now: Building your cash reserves now Focus on growing your investment portfolio How you go about doing this is up to you. For example, you could take on a side gig to increase cash flow. According to Forbes, the average side hustle brings in about $12,689 annually — or $1,057 a month. Depending on your retirement timeline, that's between $6,342 and $19,026 of extra money potentially coming in. Of course, you could also pad your investments using this extra cash. It might not fully cover what you need, but it can help if you're planning to wait to collect Social Security until the FRA. Discover Next: The further away you are from full retirement age, the smaller your overall benefit will be. But if you're dead-set on retiring — and you're not 67 — consider delaying your benefits. 'Delaying Social Security could have a significant long-term positive impact on the total Social Security benefits received over a lifetime,' said Monette. 'This is because the monthly benefit will be larger, and the larger monthly benefit will receive cost-of-living adjustments, which means more dollars for the recipient.' If you can, find a way to live on your cash reserves and investments until you reach the full retirement age. After that, you can start collecting Social Security without the reduction. Did you know that you can voluntarily suspend your Social Security benefits? You'll need to have reached the full retirement age, but still be under 70 years old. If you meet these criteria, you can earn 'delayed retirement credits' for the months you've suspended yours. 'Voluntarily suspending Social Security will create a larger benefit in the future because delayed benefits earn 2/3 of 1% per month, or an 8% increase for every 12 months delayed from FRA to age 70,' said Monette. You'll have to start collecting once you turn 70. If you're a business owner with an S Corp, now's a good time to look into how you've structured yours. In particular, try to find a balance between the business income and the wages you earn. 'Wages pay FICA taxes, and the amount of FICA taxes impacts your future Social Security retirement benefits,' said Monette. 'The greater the wages you earn up to a point translates into greater Social Security received in the future.' Speak with your accountant — if you've got one — about your options. More From GOBankingRates The New Retirement Problem Boomers Are Facing This article originally appeared on Social Security Full Retirement Age Is Rising — 4 Things To Do Now If You Plan To Retire in 2026 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
The Independent
15-05-2025
- Business
- The Independent
Social Security retirement age is changing this year. Here's what you need to know
The full retirement age to collect Social Security benefits has once again shifted, meaning Americans born in 1960 who want to receive full benefits will have to keep working until they reach 67 years old. The full retirement age (FRA) is the age at which Americans can access their full Social Security benefits without incurring a financial penalty for early retirement. The increase is the result of amendments to the Social Security Act implemented in 1983 which were meant to adjust for longer life expectancies and to counteract financial solvency issues related to the program. The change specifically affects Americans born in 1960 this year, because they will be turning 65 in 2025 — formerly the full retirement age — but will now have to wait for two years until they turn 67 to claim full benefits. Workers who want to retire early can still claim their Social Security as early as age 62, but doing so incurs a penalty that reduces their monthly benefit by 30 percent. Likewise, working past the FRA, up to age 70, increases the monthly payments thanks to delayed retirement creids. Under the current structure, someone who might qualify for $1,000 monthly benefit if they retired at age 67 would only receive $700 per month if they choose to retire at 62. If they waited until they were 70 to retire, they would receive $1,240 per month, which is a 24 percent increase over what they would have collected at age 67. The new change doesn't affect anyone born before 1960 — they can still retire and collect their full benefit so long as they've hit the FRA for the year they were born. For example, anyone born between the years 1943 and 1954 can retire with full benefits at age 66. For those born in 1957, the FRA is 66 years and six months, and for those born in 1958 the FRA is 66 years and eight months. The increase to age 67 is the last scheduled increase under the 1983 amendments to how Social Security is distributed, though that does not mean that future legislation or executive action could not push the retirement age back even further. In March, the House Republican Study Committee unveiled its budget proposal that included a call for "modest adjustments to the retirement age for future retirees to account for increases in life expectancy." They did not include a specific new age for retirement, but it is presumably older than 67. House Republicans justified the call by pointing to Social Security insolvency, which essentially means Social Security is running out of money to pay out to seniors. The trust fund for retirement benefits could be depleted between 2033 and 2034, based on current projections, after which the system would only be able to pay out 77 percent of scheduled benefits, according to a 2024 report by the Social Security Board of Trustees. Lawmakers have not been able to reach an agreement on how that crisis should be handled.
