live Hormuz traffic slows as uncertainty over waterway persists
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most s...
As the United Nations marks its 80th anniversary, it seeks efficiency improvements and budget cuts amid ongoing financial constraints.
UN Secretary-General António Guterres announced a renewed push to improve efficiency and reduce costs as the organization faces financial strains. He emphasized that the effort is unrelated to the U.S. government’s Department of Government Efficiency under President Donald Trump and Elon Musk.
“We are talking about completely different processes, methodologies, and objectives. This is a continuation and intensification of ongoing work,” Guterres said.
Financial Struggles and Reform Plans
The UN has faced a liquidity crisis for seven years due to delayed or incomplete payments from member states. The 2025 budget is $3.7 billion, but the U.S. owes $1.5 billion, and China now pays its dues later in the year. Only 75 out of 193 member states have fully paid their obligations.
To address the issue, Guterres formed the UN80 task force, led by Under-Secretary-General Guy Ryder, to focus on three key areas:
Efficiency Improvements – Identifying ways to optimize resources and streamline operations.
Mandate Review – Evaluating how well the UN is implementing directives from member states.
Structural Adjustments – Assessing potential long-term changes to improve effectiveness.
Global Uncertainty and UN's Role
Guterres acknowledged that financial challenges come amid growing global instability. He stressed that ensuring financial stability is crucial for the UN’s mission.
“The United Nations has never been more needed. Our values remain relevant, and the challenges are greater than ever,” he said.
The 80th anniversary serves as a moment for the UN to reassess its structure and financial sustainability while continuing its global efforts.
U.S. President Donald Trump says Washington is not seeking an extension of its memorandum of understanding with Iran, claiming the U.S. already controls the Strait of Hormuz through its naval blockade.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Ukraine has targeted at least 20 Wildberries warehouses across Russia since 18 July, disrupting a major logistics network. Kyiv says the strikes aim to disrupt alleged military-linked supplies, while the attacks have caused billions of dollars in losses and wider economic pressure.
Russia said its air defences downed 180 drones over the Moscow region overnight, with 620 drones reportedly targeting the area, according to Moscow Mayor Sergei Sobyanin.
German Chancellor Friedrich Merz is facing growing pressure as his approval ratings fall and the far-right Alternative for Germany (AfD) party gains support.
The U.S. imposed sanctions on the International Criminal Court's (ICC) President Tomoko Akane and a senior trial lawyer at the court Abdoulaye Seye on Tuesday, Secretary of State Marco Rubio said.
Apple has announced a major overhaul of its business terms for apps distributed in the European Union, introducing a five per cent commission on digital transactions outside its App Store and simplifying its fee structure as it seeks to comply with the bloc’s Digital Markets Act (DMA).
A record number of humanitarian workers were killed, injured or kidnapped in 2025, with the growing use of armed drones contributing to mounting risks in conflict zones, the United Nations said on Wednesday.
Former Ukrainian Defence Minister Mykhailo Fedorov has called for elections despite the war with Russia, mounting what is widely seen as the biggest domestic political challenge to President Volodymyr Zelenskyy since Moscow launched its full-scale invasion.
At least nine people were killed, including a child, in a fire at a hotel in India's eastern city of Kolkata on Wednesday, local police said.
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