The United Nations Conference on Trade and Development agency (UNCTAD) faces deep staffing cuts amid a global funding crisis, raising concerns about its ability to support developing nations navigating economic shocks like U.S. tariffs.
These cuts, the largest in the agency’s history, come amid a broader funding crisis affecting the entire U.N. system.
Secretary-General Rebeca Grynspan warned the move will seriously limit UNCTAD’s ability to respond to the growing demand from developing countries, particularly as they seek guidance on the effects of global trade shifts, including U.S. President Donald Trump’s tariffs.
UNCTAD is included in the broader cost-reduction initiative across the U.N., driven by a notable decline in funding, partly due to decreased U.S. contributions and ongoing liquidity issues.
The U.N. Secretariat plans to reduce its total $3.7 billion budget by 20%, with various agencies—such as the human rights office in Geneva, facing requests to downsize operations.
The proposed budget for UNCTAD will be reviewed and finalized by the U.N. Secretariat and member states in September.
U.S. President Donald Trump’s push to end the war in Gaza returned to the diplomatic arena on Sunday (16 August), as his envoys met Egyptian,...
Shipping through the Strait of Hormuz slowed to a near standstill over the weekend, with five commodity vessels transiting Saturday and none on Sun...
Rescuers in eastern Indonesia will search collapsed buildings on Monday for survivors who may still be trapped under the rubble after a deadly eart...
Wildfires across England and Wales have reached their highest level on record, according to the National Fire Chiefs Council, as firefighters struggle to contain outbreaks following a spell of extreme heat.
At least 11 people were killed in Israeli strikes on southern Lebanon on Saturday, among the deadliest since a June ceasefire. Meanwhile, Qatar denied holding Iranian pilots. It said it had found the remains of one pilot after an airspace violation and had contacted Iran to coordinate a handover.
A wildfire in Croatia driven by strong winds descended on the tourist town of Omis overnight, engulfing houses, forcing about 1,000 people to evacuate to safety and injuring dozens, fire brigade and health officials said on Friday.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Minister, Kazem Gharibabadi, who said the sea passage "cannot be seized by tweet."
At least 47 people have been killed after a magnitude 7.7 earthquake struck off eastern Indonesia early on Saturday, triggering small tsunami waves and dozens of aftershocks, officials say.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment