News
Hard Numbers: Big Biz funds Net Zero, ANC on the ropes in South Africa, Brazil COVID deaths drop, Asia’s mega-trade deal
Paige Fusco
130 trillion: A group of the world's top banks, insurance companies, and asset managers will raise an astounding $130 trillion worth of private capital to help the world achieve net zero carbon emissions by 2050. The initiative, launched at COP26 by former Bank of England boss Mark Carney and known by its somewhat odd acronym Gfanz, bans its members from funding any fossil fuel projects.
50: With three-quarters of votes counted, South Africa's ruling ANC party looks set to win less than 50 percent in Monday's local elections for the first time since the end of apartheid. The final result has been delayed due to power outages that the government promised to fix before the vote.
2,188: Brazil's weekly COVID death toll has fallen to 2,188, the lowest figure since the start of the pandemic. Latin America's largest nation has now fully vaccinated more than half the population, and a higher percentage of Brazilians have gotten a first shot than Americans.
53: Australia and New Zealand have ratified the Regional Comprehensive Economic Partnership, which will become the world's largest trade agreement — covering 53 percent of global exports — when it goes into effect next year. The RCEP also includes China, Japan, South Korea, and the 10 ASEAN member countries.Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.
At the 2026 World Economic Forum in Davos, entrepreneur Strive Masiyiwa warned that artificial intelligence is advancing faster than the global leadership needed to manage it.
On Thursday, Ukraine’s energy minister said that the power grid suffered its most difficult day since Russia’s full-scale invasion in 2022.
On Friday, US officials warned the transitional council in charge of Haiti not to remove interim Prime Minister Alix Didier Fils-Aimé, ahead of a deadline for the council to step down on Feb. 7.