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U.S. rejection upsets WTO leadership race
The U.S. upended WTO's selection of its next director-general as the sole nation to back South Korea's Yoo Myung-hee over Nigeria's Ngozi Okonjo-Iweala.
Many businesses, governments and organizations are committed to sustainable goals like reducing their environmental footprints and conserving resources. Sustainable finance includes environmental, social and governance considerations in investment decisions. In 2015, the U.N.'s 193 member nations adopted the 17 Sustainable Development Goals for 2030. Despite some progress, the U.N. says 83% of the agenda is off-track from the pandemic, climate change, biodiversity loss, pollution, and conflict.
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The U.S. upended WTO's selection of its next director-general as the sole nation to back South Korea's Yoo Myung-hee over Nigeria's Ngozi Okonjo-Iweala.
Global foreign direct investment plummeted by 49% during the first half of 2020 compared with a year ago due to the pandemic, UNCTAD reported.
The final phase of a race to become WTO's next director-general began with two well-qualified women from Nigeria and South Korea vying for the top post.
Experts cautioned a move by the world's richest countries to give the poorest ones more time to pay off debts will not do enough to alleviate massive suffering.
The pandemic-hit global economy is expected to contract by as much as 4.4% this year, the International Monetary Fund forecast.
Governments lose trillions of dollars a year to corruption, money laundering and tax avoidance that could aid people in poverty, a U.N. panel reported.
The U.S. violated international trade rules by slapping US$234 billion in tariffs on Chinese goods without justification two years ago, a WTO panel ruled.
A new report says the pandemic halted decades of advances in fighting poverty and disease and reversed progress on the U.N.'s 17 anti-poverty goals.
The pandemic could eliminate 40% of global tourism's 300 million jobs — one of every 10 — and trillions of dollars essential to developing economies.
Four anti-poverty international organizations called on G-20 finance ministers to cancel debts in poor nations so they can deal with the COVID-19 pandemic.
The number of people not getting enough nutrition rose by 60 million since 2014 — and the pandemic may add up to 132 million more this year.
Eight contenders from Britain, Egypt, Kenya, Mexico, Moldova, Nigeria, Saudi Arabia and South Korea have until September 7 to campaign for the job of WTO chief.
The U.N.'s annual forum on progress towards its 17 Sustainable Development Goals for 2030 opened with a big challenge made far harder by the pandemic.
Interpol warned that organized crime has infiltrated Africa's mobile money industry as a platform for human trafficking, money laundering and the drug trade.
A big problem, the organizations say, is that collection and recycling programs don't keep pace with the rising pollution.
The global coronavirus outbreak could cause as much as US$3.3 trillion in losses to the global tourism industry if the pandemic lasts a year.