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.
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Both the United States and Iran are giving conflicting messages about trying to end the conflict in the Middle East, meanwhile Pakistan has offered to be a mediator and a reported 15 point plan has been sent to Tehran. Welcome to AnewZ's coverage of the tensions in the Middle East.
A flotilla carrying humanitarian aid arrived in Havana on Tuesday morning (24 March) amid a U.S. oil blockade that has dealt a major blow to the island's already ailing energy infrastructure.
Israel struck the Iranian capital Tehran on Wednesday, Israeli military and Iranian media said, as President Donald Trump announced that the U.S. is making progress in its efforts to negotiate an end to the war, with reports of a 15-point plan sent to Tehran.
Danish Prime Minister Mette Frederiksen's Social Democrats were headed for their worst election outcome in more than a century on Tuesday, as migration and welfare concerns obscured broad support for her defiant stance toward Washington over Greenland.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Minister offered to host peace talks between the two countries to bring about an end to the conflict.
Violent clashes broke out between police and opposition protesters in Tirana on Sunday (22 March) as demonstrators were demanding the resignation of the Albanian government following corruption allegations against the deputy prime minister.
Afghan authorities say Pakistani jets entered northern Afghanistan, while Pakistan insists its actions target terrorism, highlighting continued strain after a temporary Eid ceasefire ended.
As conflict continues to unsettle the Middle East, airlines are being forced to make difficult, fast-moving decisions - redrawing flight paths and searching for safe skies. Amid this uncertainty, Azerbaijan has emerged as a crucial gateway linking Europe and Asia.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
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