South Korea's technology transfers are changing developing economies' trajectories and boosting inclusive development, according to ITC Executive Director Pamela Coke-Hamilton. She highlighted South Korea's unique role as a former aid recipient now a donor, emphasizing its success in fostering SMEs and youth startups.
South Korean Finance Minister Koo Yun-cheol urged G7 nations to prioritize AI capacity building in developing countries for sustainable growth during a Paris meeting. He also discussed global economic imbalances and supply chain diversification with counterparts from Germany and Canada.
India's External Affairs Minister S Jaishankar criticized unilateral sanctions, implicitly targeting the US, and emphasized diplomacy to address the West Asia crisis, ensuring global energy and trade stability.
Global condom giant Karex Bhd is hiking prices by up to 30% due to Iran war-induced supply chain disruptions and soaring raw material costs. Naphtha shortages are crippling production, leading to a worldwide shortage of essential goods, from condoms to plastic packaging, impacting public health initiatives, especially in developing nations.
The United Nations Development Programme warns that economic fallout from the Iran war could push 32.5 million people into poverty worldwide, with developing countries most affected. The report cites a 'triple shock' of rising energy prices, food insecurity and slower growth, with half the increase concentrated in 37 energy-importing nations across the Gulf, Africa, Asia and small island states.
The United Nations Development Programme warns that the Iran war could push 32.5 million people into poverty worldwide in a worst-case scenario. The conflict has created a 'triple shock' of rising energy prices, food insecurity and slower economic growth, with developing countries bearing the heaviest burden. About half the increase would occur in 37 energy-importing nations across the Gulf, Africa, Asia and small island states. The UNDP estimates $6bn in cash transfers would be needed to protect vulnerable households.
