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“You have a government that is reckless about what is going to happen to Guyana,” said Melinda Janki, an international lawyer in Guyana who is handling several lawsuits against Exxon. It’s pursuing “a supposed course of development that is actually backward and destructive,” she told CNN.
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And while plenty of Guyanese people welcome the new oil industry, some say Guyana’s startling economic statistics do not reflect a real-world prosperity for ordinary people, many of whom are struggling with the higher prices accompanying the oil boom. Inflation rose 6.6% in 2023, with prices of some foods shooting up much more rapidly.

“Since the oil extraction began in Guyana, we have noticed that our cost of living has gone sky high,” said Wintress White, of Red Thread, a non-profit that focuses on improving living conditions for Guyanese women. “The money is not trickling down to the masses,” she told CNN.

CNN contacted President Ali, the Ministry of Natural Resources and the Ministry of Finance for comment but received no response.
Guyana, a former Dutch then British colony which gained independence in 1966, is one of only a handful of countries that is a “carbon sink,” meaning it stores more planet-heating pollution than it produces. This is due to its vast rainforest; trees remove carbon dioxide from the atmosphere as they grow.

The country has protected its biodiversity where others have destroyed theirs, President Ali said in a BBC interview last year. In 2009, the country signed an agreement with Norway, which promised Guyana more than $250 million to preserve its 18.5 million hectares, or nearly 46 million acres, of forests.

Ali insists the country can balance climate leadership and fossil fuel exploitation. The new oil wealth will allow Guayana to develop, including building climate adaptations such as sea walls, he has said. He has also pointed to the continued failures of wealthy countries, already grown rich on their own fossil fuels, to help poorer countries with climate finance.

But there are concerns Guyana could fall victim to the “resource curse,” in which vast, new wealth ?can actually make life worse for those who live there.

Josh Giddey hits halfcourt buzzer-beater over LeBron James to cap wild finale as the Bulls stun the Lakers
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Josh Giddey hit a game-winning, halfcourt buzzer-beater over LeBron James as the Chicago Bulls stunned the Los Angeles Lakers in one of the wildest endings to an NBA game you are ever likely to see.

Trailing 115-110 with 12.6 seconds remaining, Giddey’s inbound pass found Nikola Vucevic, who pushed the ball to a wide-open Patrick Williams for a corner three-pointer.

James then fluffed the Lakers inbound pass from the baseline, allowing Giddey to steal the ball and find Coby White for a second Bulls triple in quick succession to put Chicago up 116-115 with 6.1 seconds remaining.
Austin Reaves then made a driving layup to put the Lakers ahead 117-116 with 3.3 seconds left, but the game wasn’t done yet.

With no timeouts remaining, Giddey inbounded the ball to Williams from the baseline, got the pass back, took one dribble and launched a shot from beyond halfcourt.

Supporters in the stands seemed frozen in anticipation as the ball sailed through the air, and the United Center then erupted as it fell through the net. After the dramatic win, Giddey found himself being swarmed by his teammates.

“Special moment to do it with these guys, this team,” Giddey said, per ESPN. “We’ve shown over the last month to six weeks that we can beat anybody. The way we play the game, I think it wears people down.

“We get up and down. We run. We put heat on them to get back. A lot of veteran teams don’t particularly want to get back and play in transition.”

Giddey later told the Bulls broadcast that he’d “never made a game-winner before.”

The ending capped an incredible couple of games for the Lakers, who had themselves won their last game against the Indiana Pacers on Wednesday with a buzzer-beating tip-in from James.

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How Trump changed his mind on tariffs

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Peter Nicholas, Garrett Haake and Carol E. Lee
Reporting from Washington
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“Liberation Day” gave way to Capitulation Day last night.

President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

Image: President Donald Trump
Saul Loeb / AFP - Getty Images
Trump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
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The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans.

Read the full story here.

32m ago / 12:55 PM GMT+3
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China's foreign ministry calls the U.S. a '21st century barbarian'

Peter Guo

Reporting from Hong Kong

China's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a “barbarian of the 21st century.”

Trump’s tariffs will “never America great again” ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong’s newspaper South China Morning Post.
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“A tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” Huang said, adding that the U.S. is “obsessed with the art of bullying and blackmailing the entire world.”

47m ago / 12:40 PM GMT+3
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EU welcomes 90-day tariff pause

Peter Guo

The EU President Ursula von der Leyen said today that the region welcomes Trump’s announcement to pause tariffs for 90 days.

Von der Leyen said the EU remains “committed to constructive negotiations” with the U.S., according to a statement from her office.

Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said.

Trump’s tariffs have shown that the European internal market is the region’s “anchor of stability and resilience” in times of uncertainty, von der Leyen added.

1h ago / 12:27 PM GMT+3
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Trade war with China 'to spark a wave of smuggling'

Peter Guo

Reporting from Hong Kong
mgmarket3.at
Irregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns.

The cost of tariffs has become “prohibitive to almost every company,” Tianchen Xu, senior economist at Economist Intelligence Unit.

“As a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,” Xu said in a note.

Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world’s two largest economies.

1h ago / 12:09 PM GMT+3
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California plant business owner says costs will double with tariffs

Gadi Schwartz and Phil Helsel
The owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
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https://mgmarket2-at.ru

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Scientists redid an experiment that showed how life on Earth could have started. They found a new possibility
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In the 1931 movie “Frankenstein,” Dr. Henry Frankenstein howling his triumph was an electrifying moment in more ways than one. As massive bolts of lightning and energy crackled, Frankenstein’s monster stirred on a laboratory table, its corpse brought to life by the power of electricity.

Electrical energy may also have sparked the beginnings of life on Earth billions of years ago, though with a bit less scenery-chewing than that classic film scene.

Earth is around 4.5 billion years old, and the oldest direct fossil evidence of ancient life — stromatolites, or microscopic organisms preserved in layers known as microbial mats — is about 3.5 billion years old. However, some scientists suspect life originated even earlier, emerging from accumulated organic molecules in primitive bodies of water, a mixture sometimes referred to as primordial soup.

But where did that organic material come from in the first place? Researchers decades ago proposed that lightning caused chemical reactions in ancient Earth’s oceans and spontaneously produced the organic molecules.

Now, new research published March 14 in the journal Science Advances suggests that fizzes of barely visible “microlightning,” generated between charged droplets of water mist, could have been potent enough to cook up amino acids from inorganic material. Amino acids — organic molecules that combine to form proteins — are life’s most basic building blocks and would have been the first step toward the evolution of life.