Category: 3. Business

PayPal and Global Citizen have joined together to celebrate small businesses that are transforming commerce and driving social and environmental impact.

The Global Citizen PayPal Small Business Impact Awards recognize entrepreneurs and small business owners who are driving tangible change in their communities by demonstrating a deep commitment to equity and sustainability in their business practices. The award highlights innovative leaders and social entrepreneurs who have developed products and services with a positive social or environmental impact. 

We are thrilled to announce the five selected winners for the first year of this award. From sustainable design and clean mobility to food systems, menstrual equity, and wildfire prevention, these five founders are using business as a tool for transformation.

The five winners each received a $25,000 USD cash prize, and were connected to marketing and brand activations to accelerate their work and impact. In addition, each winner received in-person masterclass training with Global Citizen’s marketing and social media teams.

All five award winners were flown out to South Africa to take part in Global Citizen NOW: Johannesburg, on Friday, Nov. 21, at The Sandton Convention Center. At the summit, they participated in a panel to discuss their businesses, how they made an impact in their community and officially received their awards. Now, let’s meet this year’s exceptional winners!

Filip Lundin, CEO and Founder of Sopköket, Sweden 

2025 Global Citizen PayPal Small Business Impact Awards winner, Filip Lundin, CEO & Founder, Sopköket AB speaks on stage during Global Citizen NOW: Johannesburg on November 21, 2025 in Johannesburg, South Africa. Image: Jemal Countess/Getty Images for Global Citizen

Globally, around 13.2% of food we grow  is lost before it even reaches the retail shelves and an estimated 19% is wasted in our homes, supermarkets and restaurants all together. This food waste is also a major contributor to climate change, accounting for 8–10% of global greenhouse gas emissions.

Filip Lundin, the founder and CEO of Sopköket, an award-winning Swedish social enterprise, is on a mission to address this problem by transforming surplus food into delicious catering options and circular frozen meals. Sopköket employs a circular and financially sustainable model that aims to reduce food waste, donate meals, and create employment opportunities.
Half of the kitchen team comes from marginalized backgrounds and Sopköket collaborates with over 35 partner organizations while catering to clients such as Spotify, Marshall, and PayPal. A serial entrepreneur since the age of 16, Lundin lectures globally with Wharton University and the EU on food waste reduction and legislative change. Now preparing for international expansion with larger production kitchens and a SaaS solution for grocery kitchens, he also advocates for laws enabling Scope 4 CO₂ accounting — proving that sustainability and profitability can truly coexist.

Since 2015, Sopköket has rescued 150 tons of food waste and donated over 90,000 meals, and earned 4 of Sweden’s biggest sustainability awards within the food sector. 

Franco Rodriguez Viau, CEO & Cofounder of  Satellites on Fire, Argentina

2025 Global Citizen PayPal Small Business Impact Awards winner, Franco Rodriguez Viau, CEO & Co-Founder, Satellites on Fire speaks on stage during Global Citizen NOW: Johannesburg on November 21, 2025 in Johannesburg, South Africa. Image: Jemal Countess/Getty Images for Global Citizen

Each year, wildfires cause serious damage to the environment, wildlife, human lives, and infrastructure across regions from Canada and the United States to the Amazon and the Arctic, as well as in Africa, Asia, and Europe. 

Satellites on Fire is addressing this critical issue by developing an AI-powered early alert system designed to detect fires rapidly and efficiently. The technology uses real-time satellite data, tower cameras,  forecasts, and proprietary AI to detect wildfires up to 35 minutes faster than NASA, ultimately saving lives, livelihoods, and protecting ecosystems. The system is protecting 56 million hectares across 19 countries and preventing 400+ wildfires in recent months. 

Backed by MIT, Techstars, the UN Green Climate Fund, and Reddit’s founder, Alexis Ohanian, Satellites on Fire are proving that innovation can stop wildfires before they spread and safeguard vulnerable communities and ecosystems around the world.

Franco Rodríguez Viau, an Argentinian entrepreneur and the CEO and co-founder of Satellites on Fire, has dedicated his career to leveraging technology for global  environmental impact. After witnessing the devastating effects of wildfires in Argentina, at just 16 years old, Viau co-founded the organization to mitigate these disasters. His ongoing work continues to advance innovation at the intersection of technology, sustainability, and human resilience.

Kunjpreet Arora, CEO of Angirus, India 

2025 Global Citizen PayPal Small Business Impact Awards winner, Kunjpreet Arora, CEO of Angirus speaks on stage during Global Citizen NOW: Johannesburg on November 21, 2025 in Johannesburg, South Africa. Image: Jemal Countess/Getty Images for Global Citizen

The buildings and construction sector is a major contributor to global emissions, responsible for 37% of greenhouse gases. This is largely due to the production and use of traditional materials like cement, steel, and aluminum, all of which have a huge carbon footprint. 

Angirus, a climate-tech startup, is tackling this issue by creating sustainable alternatives to conventional construction materials. The company transforms plastic and construction waste into Wricks®, high-strength bricks made without cement, burning, or excessive water. This innovative solution not only produces durable, waterproof and thermally efficient building materials, but also reduces landfill waste and carbon emissions.

Angirus is shaking up construction in India by using micro-manufacturing to put production in local hands. The result? More green jobs, lower costs, and a cleaner planet. With over 100,000 Wricks® already out there, they’re proving sustainability and impact can go hand in hand. Kunjpreet Arora, co-founder and CEO of Angirus, brings a passion for tackling systemic environmental issues through practical and scalable innovation. With a background in civil engineering and as an alumna of IIM Indore, her leadership and work has gained recognition from notable organizations such as Forbes Asia, TiE Global, Netflix, the Government of India, the Clinton Global Initiative, and the World Economic Forum. 

Somnath Ray, CEO and Co-founder of CLIP, USA

2025 Global Citizen PayPal Small Business Impact Awards winner, Somnath Ray, CEO & Co-Founder, CLIP speaks on stage during Global Citizen NOW: Johannesburg on November 21, 2025 in Johannesburg, South Africa. Image: Jemal Countess/Getty Images for Global Citizen

The transport sector is responsible for 13.7% of global greenhouse gas emissions and remains heavily reliant on fossil fuels. Transitioning to sustainable transportation solutions is urgently needed. However, barriers such as the high cost of options like e-bikes can limit their widespread adoption and accessibility.

That’s where CLIP, a Brooklyn-based clean mobility startup steps in. CLIP  is working to make e-bike technology more accessible as part of its mission to combat climate change. They have launched the world’s first and only Plug & Play device that upgrades any bike into an e-bike — no tools or pre-installation required. CLIP is 4x less expensive than the average e-bike and is patented in 47 countries. 

After the success of its plug-and-play device, CLIP, is piloting BOLT,  their newest and more affordable motor unit designed for emerging economies. BOLT retails for $100, is 20 times less expensive than the average e-bike, and can immediately motorize the 2 billion bikes already in circulation and eliminate up to 5% of carbon emissions globally. 

Somnath Ray, the CEO and co-founder of CLIP, is making urban commuting more sustainable through affordable e-bike technology. With a background as a design technologist and entrepreneur, he has been recognized by MIT Tech Review as a top innovator. With over 20 years of experience, Ray has dedicated his career to the development of sustainable transportation solutions.
Zizipho Ntobongwana, CEO of Sheba Feminine, South Africa

2025 Global Citizen PayPal Small Business Impact Awards winner, Zizipho Ntobongwana, CEO, Sheba Feminine speaks on stage during Global Citizen NOW: Johannesburg on November 21, 2025 in Johannesburg, South Africa. Image: Jemal Countess/Getty Images for Global Citizen

Across the world, millions of women and girls are still struggling to access affordable menstrual products necessary for their menstrual health. This issue of period poverty can lead to missed school days and work days and ultimately, negatively affect their overall well-being. Sheba Feminine is on a mission to enhance menstrual health by providing sustainable, eco-friendly solutions while advocating menstrual equity.

Sheba Feminine products include organic and biodegradable pads, tampons, panty liners, menstrual cups, period underwear, and bamboo wipes, all designed to protect both people and the planet. They’re more than just a product provider, as they tackle period poverty through education, outreach, and partnerships with schools and NGOs. Soon they’ll be launching “Blud”, a youth-focused brand, and “Bluddy”, a data-light, multilingual period tracking app. 

As the Founder and CEO, Zizipho Ntobongwana focuses her work on sustainable product innovation and menstrual equity, while leading community programs like “Pay for a Pal’s Pads,” which tackles period poverty through education and distribution. Shea Feminine is reshaping menstrual care in Africa through innovation, accessibility, and social change.

This year’s Global Citizen PayPal Small Business Impact Award winners show how powerful local leadership can be when innovation meets purpose. Each entrepreneur is demonstrating that small businesses can drive meaningful change from advancing sustainability and protecting the planet to expanding equity, strengthening communities, and reshaping entire industries for the better.

As we celebrate their achievements, we’re reminded that progress is a collective effort. By championing mission-driven small businesses, we are investing in a more inclusive and resilient future for everyone. To learn more about how PayPal and Global Citizen are empowering consumers and business owners to take meaningful steps in strengthening their communities, explore the initiatives driving this partnership forward. Together, we can help ensure small businesses everywhere receive the support they need to thrive and, in doing so, help end extreme poverty.

On 2 December, Global Fashion Agenda and Dansk Mode & Textil hosted the policy event “Building the Danish Circular Textile System – From Collection and Sorting to Extended Producer Responsibility” in Copenhagen. The day opened with a visit to UFF-Humana Denmark’s sorting centre, offering a practical look at Denmark’s two-stream collection system and how it contributes to advancing circularity across Europe.

The event convened brands, recyclers, industry associations, and policymakers, including Eric Mamer, Director-General of DG Environment, and Magnus Heunicke, Danish Minister for the Environment and Gender Equality, to discuss how to optimise feedstock flows, scale textile-to-textile recycling, and strengthen cross-sector collaboration in Europe.

Speakers also included Thomas Tochtermann, Chairman of the Board at GFA; Henrik Sand, Sustainability Lead at BESTSELLER; Marie Busck, Chief Sustainability Officer at Danish Fashion & Textile; Rikke Bech, CEO at NewRetex A/S; Robert van de Kerkhof, CEO at ReHubs; Evan Wiener, Advisor to CEO and Board at ReHubs; Thomas Klausen, Vice Chairman, GFA, CEO at Danish Fashion & Textile, and Justin Pariag, Chief Sustainability Officer, GFA.

Denmark’s Progress and the Need for EU Alignment

Speakers reflected on Denmark’s early adoption of mandatory textile collection and its broader ambition to create a model for circular textiles that could inspire EU-wide approaches. However, they also emphasised that even strong national systems have limits without coordinated European action.

Minister Magnus Heunicke emphasised that the current system is still far from sustainable and noted Denmark’s commitment to improving circularity through national planning and upcoming policy measures. However, he stressed that national action alone cannot fix systemic issues. Ensuring that textiles last longer, remain in circulation and reach high-quality recycling will depend on coordinated efforts across Europe, not solely on Danish initiatives.

Harmonisation, Investment and the Circular Economy Act

Speakers also addressed the growing risk of fragmentation as EU Member States begin to implement new requirements under the Waste Framework Directive and the upcoming Extended Producer Responsibility (EPR) schemes. Representatives from companies and industry bodies explained that inconsistent national rules and fee structures can limit efficiency, increase administrative burdens, and complicate planning for recycling investments.

From the European Commission, Eric Mamer acknowledged the challenges posed by fragmentation and noted that progress will require a balanced approach that recognises both the diversity of national systems and the importance of broader regional alignment. The forthcoming Circular Economy Act and Environmental Omnibus were highlighted as important opportunities to improve regulatory coherence, clarify EPR design features, and provide the predictability needed for industry investment.

Across the day, speakers consistently returned to four shared challenges and opportunities that will shape the future of circular textiles in Europe:

• Insights from the UFF-Humana sorting visit: Denmark’s two-stream system (reuse vs. waste) supports circularity but challenges in reporting, sorting capacity, and recycling economics mean many textiles still end up incinerated—highlighting the need for harmonised rules and stronger incentives.
• Harmonisation with room for flexibility: Broad alignment, particularly on EPR, was recognised as essential. The upcoming Circular Economy Act and Environmental Omnibus were seen as critical steps toward this goal. At the same time, speakers stressed that different national realities may require a regional or phased approach to harmonisation.
• Investment needs and policy predictability: The industry requires a stable EU policy framework to unlock investment, supported by de-risking tools such as targeted funding beyond EPR-led funding, loans, and tax incentives. It was noted that EUR 5–6 billion will be needed to scale recycling capacity and ensure recycled materials become price-competitive with virgin materials. Global Fashion Agenda and ReHubs will collaborate with stakeholders across the value chain to address the supply–demand gap.
• What it takes to scale circularity: Scaling circular fashion requires both stronger economic incentives and deeper consumer engagement. While models like resale, repair, rental, and product-as-a-service are growing, profitability remains limited due to high handling costs, market fragmentation, and tax structures. At the same time, extending product lifespans depends on emotional durability (people’s attachment and perceived value in garments). Measures such as reduced VAT for circular activities, harmonised legislation, and ecodesign requirements that prioritise quality, repairability, and timeless appeal can support the viability of circular models while encouraging longer-lasting consumer use.

Moving Forward

The event underscored a shared message: Denmark’s experience provides valuable practical learnings, but building a truly circular textile system will require consistent frameworks, predictable policy conditions, and substantial investment across Europe. Global Fashion Agenda will continue engaging with policymakers, industry partners, and initiatives such as ReHubs to accelerate progress and support the development of a resilient, circular textile value chain.

The EU’s outright ban on the sale of new petrol and diesel cars from 2035 is poised to be watered down, a senior European parliament politician has said.

The decision, expected to be announced by the European Commission on Tuesday in Strasbourg, would be a divisive move, angering environmental campaigners who argue it would amount to the “gutting” of the EU’s flagship green deal.

Under the deal, approved two years ago, all cars coming on the market from 2035 had to be zero CO2 emissions, meaning the end of the road for hybrid vehicles as well as those running solely on fossil fuels.

However, Manfred Weber, an MEP and the president of the European People’s party group of conservative and centrist parties in the European parliament, told Germany’s Bild newspaper that the 2035 cutoff date would be softened next week.

“The technology ban on combustion engines is off the table,” he said. “All engines currently manufactured in Germany can therefore continue to be produced and sold.”

The German chancellor, Friedrich Merz, the Italian prime minister, Giorgia Meloni, and most of the car industry have lobbied for the ban to be changed to allow the continued sale of hybrid vehicles. They are likely to hail the EU’s shift as a victory for common sense, giving European carmakers more time to transition to electric vehicles (EVs).

However, the change is not only opposed by green politicians but also some car manufacturers such as Volvo and Polestar, which argue that shifting the 2035 cutoff for traditional combustion engines would give a further advantage to Chinese rivals.

Weber said the rule change would be an important signal “to the entire automotive industry and secures tens of thousands of industrial jobs”, reflecting concerns over the future of one of Europe’s most important industries.

He suggested the EU would pave the way for the continued sale of plug-in hybrid cars, including a future generation of powerful hybrids with long ranges, but with backup combustion engines for long journeys, for example, more than 373 miles (600km).

“For new registrations from 2035 onwards, a 90% reduction in CO2 emissions will now be mandatory for car manufacturers’ fleet targets, instead of 100%,” Weber told Bild.

A European Commission spokesperson, Paula Pinho, said on Friday that the 2035 deadline was “still being discussed”. She added that the commission president, Ursula von der Leyen, had already said several times that that there was a clear demand for “more flexibility on the CO2 targets”.

Volkswagen, Stellantis, Renault, Mercedes-Benz and BMW have argued in favour of dropping the ban, arguing that consumers are not taking up EVs in the numbers anticipated when the 2035 date was approved in 2022.

According to reports, the EU will also propose a package of measures to incentivise Europeans to make and buy small EVs as part of a new push to dent the growing presence of Chinese electric cars in the bloc.

Incentives for a “made in Europe” small EV would take inspiration from Japan, which offers significant breaks including lower insurance and car tax for those who own electric kei cars, a category of small, lightweight vehicles notable for their boxy appearance.

Norway, which has the highest take-up of electric vehicles in Europe, drove adoption of the zero-emission cars with VAT and purchase tax exemptions along with 50% road toll fees.

It has meant more than 90% of all new cars sold in 2025 were electric, in extraordinary contrast to southern Europe where a lack of infrastructure and incentives has led to a slow take-up of EVs.

In Norway almost 30% of all cars are now electric, compared with Italy where numbers are growing, but still account for only 12% of the market, according to figures for November.

KARACHI: Gold rates in Pakistan surged to an all-time high on Friday, December 12, 2025, in line with a sharp increase in the international market, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The rate of 24-karat gold per tola rise by Rs10,700, reaching Rs454,262, up from Rs443,562 a day earlier.

Similarly, the price of 10 grams of 24-karat gold increased by Rs9,174 to Rs389,456, while 10 grams of 22-karat gold climbed by Rs8,410 to Rs357,014.

In the global market, gold prices jumped by $107, reaching $4,319.

Silver prices

Silver prices also saw an upward trend. The price of per tola silver increased by Rs232, reaching Rs6,684, while 10 grams of silver rose by Rs199 to Rs5,730. International silver prices increased by $2.32 to $64.12.

Gold trends

The expanding availability of digital financial tools—including gold-backed Exchange-Traded Funds (ETFs), mobile investment apps, and fintech innovations—has widened access to global gold markets.

These developments are enabling retail investors, especially in the Gulf region, to participate in a market that was once dominated by institutional players.

Recent fluctuations in gold prices reflect continued global demand and increased investor caution amid persistent economic and geopolitical uncertainties.

Investment Trends in Pakistan

In Pakistan, where the rupee remains under pressure and economic uncertainty persists, gold continues to serve as a preferred investment option. Beyond its value as a commodity, it is widely regarded as a dependable store of wealth and a hedge against inflation.

As volatility in financial markets intensifies, tangible assets like gold are increasingly viewed as safe-haven investments, reinforcing their importance in both traditional and modern investment strategies.

TLDR

• Nikkei 225 rose 1.44% as Sumitomo Metal Mining saw a 9.13% gain.
• Tokyo stocks saw more winners than losers, with 2,656 stocks advancing.
• Crude oil prices increased, while gold futures remained mostly flat.
• Panasonic and Toray Industries hit 5-year and 3-year highs, respectively.

Japan’s stock market ended higher on Friday, with the Nikkei 225 rising by 1.44%. Gains in key sectors such as Real Estate, Banking, and Textile led the upward movement. The Japanese market extended its positive performance, signaling investor confidence across various sectors. While stocks rose overall, specific companies stood out, showing significant gains.

Strong Performance from Key Sectors

At the close of trade, the Nikkei 225 gained 1.44%, reflecting a positive day for Japanese stocks. Among the standout sectors, Real Estate and Banking played a significant role in driving the market higher. This uptick in key sectors is seen as a reflection of stable economic conditions and strong corporate earnings across Japan.

One of the day’s biggest gainers was Sumitomo Metal Mining Co., Ltd., which rose by 9.13%. This surge in its stock price brought it to its highest level in three years, signaling strong investor sentiment. Other notable performers included Panasonic Corp, which climbed 6.91% to hit a five-year high, and Toray Industries, which rose 5.87%. The positive movement across these stocks reflects an optimistic outlook for these companies in the market.

Declining Stocks and Market Dynamics

Despite the overall positive movement, there were a few stocks that experienced declines. Tokyo Electron Ltd. was among the worst performers, falling 3.37%. This drop came after disappointing earnings reports from major tech companies in the U.S., which affected investor sentiment towards tech stocks globally. Sumitomo Dainippon Pharma and Ebara Corp. also saw declines, with losses of 2.96% and 2.38%, respectively.

However, the overall trend on the Tokyo Stock Exchange remained positive. A total of 2,656 stocks advanced, while only 932 declined. This shows that the broader market sentiment was favorable, with a larger number of stocks outperforming the lagging ones. Even with a few underperformers, the market managed to end the day on a high note.

Impact on Commodities and Currency Markets

In commodities trading, crude oil prices saw modest gains. Crude oil for January delivery rose by 0.56% to $57.92 per barrel. Meanwhile, Brent oil for February delivery also increased, rising by 0.49% to reach $61.58 per barrel. On the other hand, gold futures for February delivery remained largely unchanged, falling by just 0.00% to $4,312.90 per troy ounce.

Currency markets showed slight movement as well. The USD/JPY exchange rate was up by 0.03%, reaching 155.66, while EUR/JPY rose marginally by 0.01% to 182.70. These small fluctuations reflect a generally stable trading environment in the currency markets.

Market Outlook and Conclusion

As Japan’s stock market continues to show strength, investors are hopeful that this momentum will carry into the future. The Nikkei 225’s performance, bolstered by strong gains from key stocks, suggests continued investor optimism.

Even though certain stocks faced declines, the overall market sentiment remains positive. Looking ahead, analysts are watching for any developments that could impact market performance, including the ongoing situation with global commodity prices and currency fluctuations.

With the Nikkei 225 up 1.44% and key sectors continuing to perform well, Japan’s stock market appears set to maintain its positive trajectory in the coming weeks.

HARBIN, Dec. 12 (Xinhua) — Heilongjiang Province, a major grain producer in northeast China, saw its 22nd bumper harvest with a record-breaking grain output reaching 82 million tonnes this year, data from the National Bureau of Statistics (NBS) showed on Friday.

After surpassing 80 million tonnes in total grain production in 2024, Heilongjiang has once again topped the record this year, marking its 16th straight year as the top grain-producing region in China, according to the provincial agriculture and rural affairs department.

To ensure consecutive high yields, the province has applied over 176,000 high-performance seeding machines and continued to promote scientific farming methods, including soil testing formula fertilization technology, dense planting techniques and integrated water and fertilizer irrigation projects.

China has achieved another year of bumper grain harvest in 2025, with total output hitting a record high of 714.88 million tonnes, an increase of 1.2 percent year on year, according to the NBS.  ■

OpenAI on Thursday launched its GPT-5.2 artificial intelligence model, after CEO Sam Altman reportedly issued an internal “code red” in early December pausing non‑core projects and redirecting teams to accelerate development in response to Google’s Gemini 3.

GPT-5.2 comes with improvements in general intelligence, coding and long-context understanding, the company said in a statement.

The new model is expected to bring even more economic value for users, as it is better at creating spreadsheets, building presentations and handling complex multi-step projects, OpenAI said.

Alphabet’s Google launched the latest version of its Gemini in November, highlighting Gemini 3’s lead position on several popular industry leaderboards that measure AI model performance.

“Gemini 3 has had less of an impact on our metrics than we feared,” Altman said in an interview with CNBC on Thursday, alongside Disney’s CEO Bob Iger.

Google did not immediately respond to a Reuters request for comment.

Disney said on Thursday it is investing $1 billion in OpenAI and will let the startup use characters from Star Wars, Pixar and Marvel franchises in its Sora AI video generator.

Microsoft-backed OpenAI said that it currently has no plans to drop GPT‑5.1, GPT‑5, or GPT‑4.1 from its application programming interface.

GPT-5.2 Instant, Thinking, and Pro will begin rolling out in ChatGPT on Thursday, beginning with paid plans.