| Hey Insiders, Today we are looking at Ukraine's grain export deal and the Libyan oilfield operations. Also, hundreds of animals were rescued during recent floods in Delhi. Scroll down for some quick hits and our upcoming events. Let us know what other content you'd like to see in future issues. Happy reading! Vildana
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| 1 | | A crucial agreement facilitating grain export from Ukraine is on the verge of expiring unless Russia consents to an extension. The deal, which has been instrumental in stabilizing global food prices and supporting developing countries reliant on Ukrainian exports, is threatened as the last ship under the Black Sea deal has already departed from the port of Odesa. More: - Turkey and the United Nations initially brokered the deal following the onset of Russia's war on Ukraine in July 2022.
- The agreement ensures the safe export of grain from Ukrainian ports, with ships navigating through a safe corridor in the Black Sea under the guidance of Ukrainian pilots.
- The ships then pass through the Bosphorus Strait, a crucial shipping corridor in northwest Turkey, to reach global markets.
- Russia has repeatedly threatened to withdraw from the pact, and its participation is key to the deal's survival.
- Before its third renewal in May, Russia had remained ambiguous about its continued participation in the deal but eventually agreed to a last-minute extension.
Zoom Out: - Known as the Black Sea Grain Initiative, the agreement reached last July allowed for international shipments of corn, wheat, barley, and other food products from three designated ports in Ukraine, nicknamed the "breadbasket of Europe."
- The potential expiration of the deal could have significant implications for global food security; the Food and Agriculture Organization provides more context on global food security here.
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What the numbers say: This statistic shows the worldwide grain production in 2021-22, sorted by type. That year, worldwide wheat production reached about 778.6 million metric tons. The most important grain was corn, based on over 1.2 billion metric tons of production. Relevance: When Russia invaded Ukraine in February 2022, its naval vessels blockaded Ukraine's ports, trapping some 20 million tonnes of grain, sending global food prices soaring. Most grain in the U.S. is used as animal feed, while slightly less is converted into ethanol. | | | |
| 3 | | Libya's Sharara and El Feel oilfields have resumed operations after a temporary shutdown due to the abduction of a former finance minister. The Sharara field, which typically produces 290,000 barrels per day, is currently operating at a reduced capacity of 30,000 barrels per day, expecting to return to normal by Sunday. More: - The Sharara field is one of Libya's largest production areas and has frequently been targeted due to political reasons and local protests.
- The field is managed by the state oil firm NOC in partnership with Spain's Repsol, France's Total, Austria's OMV, and Norway's Equinor.
- The El Feel field, with a capacity of 70,000 barrels per day, is operated by Mellitah Oil and Gas, a joint venture between the state oil firm NOC and Italy's Eni.
- The Sharara and El Feel oilfields, along with the 108 field, were all closed in protest by the al-Zawi tribe following the kidnapping of former finance minister Faraj Bumatari.
- The 108 oilfield remains shut.
- The closure of the oilfields cost Libya the production of 340,000 barrels, according to Libya's oil minister Mohamed Aoun.
Zoom Out: - Brent crude settled above $81 a barrel Thursday to reach an 11-week high. Libyan oil exports generally go to Spain, Italy, and France; a prolonged disruption could mean more West African crude moving into Northwest Europe, said Rebecca Babin, a senior energy trader at CIBC Private Wealth.
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| 4 | | Thanks to various animal welfare organizations and volunteers, hundreds of animals were rescued during the recent floods in Delhi. The large-scale operation involved securing boats and tractors for evacuations, rescuing animals from isolated areas, and relocating them to safer grounds. More: - The rescue operation began on July 12, following reports of dogs and cattle stranded in the Yamuna Khader area due to heavy rains.
- As the situation worsened, animals isolated themselves in areas already evacuated by humans.
- Volunteers ventured into the floodwaters, rescuing dogs from trees, rooftops and swimming them to safety.
- A significant challenge was rescuing cattle from a gaushala housing 400 cows.
- This required a coordinated effort involving gaushala volunteers and NDRF veterans.
- Approximately 350 dogs were evacuated from one shelter and 100 from another, transported through chest-high water to waiting trucks.
Zoom Out: - Climate change is expected to increase the frequency and severity of extreme weather events, including floods; this will likely lead to more instances where animal rescue operations are necessary.
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| 5 | | Scientists have discovered a new molecule, CUDC-907, that can selectively destroy aging, non-functional cells (senescent cells) without affecting healthy ones, potentially delaying tissue aging and improving life quality and longevity. This molecule, which has shown promising in vitro results and is also being investigated for its anti-cancer effects, will soon be tested in animal models. More: - The molecule was discovered by scientists from the Open University of Catalonia (UOC) and the University of Leicester.
- Senescent cells, or "zombie" cells, accumulate over time, leading to tissue aging.
- CUDC-907 can eliminate these old cells without impacting healthy ones, potentially delaying tissue aging and improving life quality and longevity.
- The molecule is also being investigated for its anti-cancer effects, as it could act against old cells that make the cancer reappear.
- The drug could also be applied in diseases where the accumulation of senescent cells plays a role, such as Alzheimer's disease.
Zoom Out: - Another research suggests that senescent cells contribute to age-related diseases, including cancer, and that senolytics (drugs that selectively eliminate senescent cells) could be a promising strategy for healthspan extension and disease mitigation.
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| 6 | | Torrential rains in South Korea have led to severe flooding, causing at least 37 deaths and leaving nine people missing. The most tragic incident occurred in a tunnel near Cheongiu, where nine bodies were recovered from vehicles trapped by rapidly rising floodwaters. More: - The floodwater entered the underpass so quickly that passengers and drivers could not escape.
- It is still unclear how many people are trapped in the 685-meter-long tunnel in Osong, but it is estimated that 15 vehicles are submerged.
- The victims' families have criticized local authorities for their ineffective response, as warnings about alarming water levels were issued hours before the tragedy, which could have allowed time to close the tunnel and divert traffic.
- Most other fatalities occurred in the mountainous North Gyeongsang region, where landslides swept away entire houses.
- Almost 300 mm (11.8 inches) of rain fell across South Korea on Saturday, a significant amount given the country's annual rainfall is typically between 1,000 mm (39.4 inches) and 1,800 mm (70.9 inches).
- Thousands of people have been affected by evacuation orders, and Prime Minister Han Duck-soo has called on the military to assist with rescue efforts.
Zoom Out: - The Korea Meteorological Administration has forecasted more rainfall through Wednesday next week, warning that the weather conditions pose a "grave" danger.
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- Hundreds of firefighters have struggled to keep wildfires under control as the Canary Islands president pleads with residents to leave their homes.
- Putin says Russia will use cluster bombs in Ukraine if it has to.
- Carlos Alcaraz overcame Novak Djokovic in a five-set thriller to win his first Wimbledon title.
- A Los Angeles lawyer went viral for offering a $5,000 "referral fee" to find her a husband.
- A woman in Alabama who went missing after reporting a toddler walking alone on a freeway returned home Saturday night.
- Flash flooding in the Philadelphia suburbs has killed five.
- Israeli Prime Minister Benjamin Netanyahu was released from the hospital on Sunday after being admitted a day before for dehydration. He was fitted with a heart monitor.
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