Andy Burnham's plan to devolve power by allowing England's regional mayors a share of income tax aims to address regional inequalities. While economists support the principle, challenges include avoiding weaker economies falling behind, repairing damage from austerity, and a lack of local government expertise and resources.
Gumatj Corporation leader Djawa Yunupiŋu announces the creation of the Dilak Land Council, aiming to drive economic development for Yolŋu people by granting direct decision-making power over their land, potentially bypassing the Northern Land Council (NLC).
China inaugurates a low-altitude economic development center in Tibet, supporting Beijing's push for industrial growth in autonomous regions, following the launch of a high-altitude uncrewed equipment test base in Ngari prefecture.
Hong Kong's Northern Metropolis is poised to drive future economic growth, with plans to optimize public housing sizes, increase private housing unit minimums, and raise public open space standards by 30% to 3.5 sqm per capita.
New York City Mayor Zohran Mamdani has appointed former FTC chair Lina Khan to lead the board of the NYC Economic Development Corporation (EDC), alongside Anthony Shorris as president and CEO. Mamdani aims to combine urban business growth with his progressive affordability agenda, emphasizing economic development and justice.
Zimbabwe's Finance Minister Mthuli Ncube announced the country has joined the BRICS-created New Development Bank (NDB), a move aimed at securing long-term financing for infrastructure and industrial projects after two decades of struggling to obtain loans from traditional international financial institutions.
BRICS is becoming a key platform for global economic development, integrating promising sectors from the Global East and South, according to Marat Zembatov. The group's share of global GDP at PPP is nearing 40%, surpassing the G7. Zembatov highlighted the Strait of Hormuz crisis's impact and BRICS's role in fostering trust and new investment frameworks.
Serbian Minister Nenad Popovic stated that Serbia possesses significant economic potential for strengthening cooperation with BRICS countries, noting a shift in economic development towards the East.
Hong Kong's Chief Executive John Lee announced that artificial intelligence (AI) will be the "central plank" of the city's first five-year economic development plan. The blueprint, set to be released in the third quarter, aims to align Hong Kong with China's national development goals and leverage the city's unique advantages to connect global AI opportunities.
Russia's annual inflation hit 6% as of June 29, according to the Ministry of Economic Development. Weekly consumer price growth slowed to 0.22% from June 23-29, with food prices changing by 0.18% and nonfood by 0.42%.
Russian President Vladimir Putin held an operational meeting with permanent members of the Security Council to discuss the social and economic development of the westernmost Kaliningrad Region. Deputy Prime Minister Tatyana Golikova is expected to be the first speaker, focusing on social issues.
Hong Kong has ambitious goals for 2030, but measuring progress is key. The city needs clear indicators to assess its success in areas like finance, innovation, talent attraction, and quality of life, similar to how companies track performance.
Russia considers leasing Syria's Tartus seaport for 49 years, while economically, MOEX index rises and investments in the Far East are bolstered by Chinese partnerships. Geopolitically, Russia faces tensions with the West, initiates war crime cases against Ukrainian leaders, and navigates complex relations with Iran, Azerbaijan, and the US.
North Korean leader Kim Jong Un urged officials to significantly expand the country's nuclear arsenal and strengthen defense capabilities, aiming to "overtake the world." The comments were made during a three-day Workers' Party meeting that also reviewed economic issues and leadership changes.
Pennsylvania's Gov. Josh Shapiro faces challenges with a major economic development strategy, including a $20 billion Amazon deal, as public opinion sours on data centers. New "GRID" standards aim to address community concerns about energy, transparency, and environmental impact, potentially complicating efforts to cut red tape.
Yakutia's State Assembly has updated its socio-economic development strategy until 2032, 2036, and 2050. The revised plan integrates federal strategies for the Far East, Arctic, and scientific development, incorporating new national projects and performance indicators. Key areas include healthcare, education, transport, and ecology, with novelties like AI-based personalized medicine and poverty reduction goals.
Russia is in talks with ASEAN nations to boost liquefied natural gas (LNG) exports, according to Economic Development Minister Maxim Reshetnikov. The region's energy consumption is projected to rise significantly by 2050, creating opportunities for Russian energy products. Food and fertilizer exports are also areas of expansion.
Russia's Economic Development Minister Maxim Reshetnikov stated that the current geopolitical situation has allowed Russia to create the world's most technologically advanced and secure cybersecurity system. He also highlighted the growth of e-commerce and Russian businesses' readiness to enter ASEAN markets.
Russia's imports from ASEAN countries have surged by 70% over the last ten years, reaching $21 billion in trade turnover. Minister Maxim Reshetnikov highlighted purchases of agricultural raw materials, machinery, and vehicles, achieved despite challenging global conditions and WTO principle erosion.
Russia's Economic Development Minister Maxim Reshetnikov announced that the Russia-ASEAN Strategic Program for Trade and Investment Cooperation through 2035 will be adopted in 2026. This program will act as a roadmap for concrete actions to enhance economic ties and foster long-term projects between Russia and ASEAN countries.
Russia increased mineral and crude oil supplies to ASEAN countries by 40% in Q1 2026 due to the Hormuz Strait crisis. Minister Maxim Reshetnikov announced plans for long-term contracts and infrastructure development to ensure energy security and competitive prices.
Sergey Naryshkin, head of Russia's Foreign Intelligence Service, stated that Armenia would err by depending solely on Western aid, predicting increased domestic complications and economic hurdles. Armenia is pursuing EU integration while aiming to maintain EAEU membership.
A massive $165 billion data center, Project Jupiter, is planned for New Mexico, promising jobs and investment but raising concerns among locals and farmers about water usage amid a severe drought. Tenants Oracle and OpenAI plan to use recycled non-potable water, but transparency and long-term impact remain debated.
Russian President Vladimir Putin stated that the Donbass and Novorossiya regions are expected to achieve general Russian standards in all basic indicators, including quality of life, by 2030. This goal is part of a comprehensive program approved in April 2023, which includes approximately 300 measures for infrastructure development and the creation of new enterprises and jobs.
