Latest news with #Grynspan
Scoop
3 hours ago
- Business
- Scoop
World News In Brief: Global Investment Plunges, Hurricane Season In Haiti, Rising Cholera And Hunger In South Sudan
19 June 2025 Their latest data shows that the outlook for international investment this year 'is negative', a sharp course correction from January, when 'modest' growth seemed possible. The reasons for this range from trade tensions and tariffs whose main effect has been a 'dramatic increase in investor uncertainty', said UNCTAD Secretary-General Rebeca Grynspan. She said that investment in renewable energy, water and sanitation fell by some 30 per cent and that agriculture saw a 19 per cent drop in investor confidence. Only the health sector saw an increase of nearly 20 per cent, Ms. Grynspan said, although that only accounts for 'less than $15 billion globally'. 'Very real consequences' 'Behind those numbers are very real consequences. Jobs not created,' she said. 'Infrastructure not built, sustainable development delayed. What we see here is not just a downturn. It is a pattern.' Ms. Grynspan also cited 'growing geopolitical tensions' in addition to rising trade barriers around the world as reasons for the fall in global investment for development. In critical sectors as hi-tech industries and rare earth minerals, governments are also tightening screening measures on proposed foreign investment, the UN agency noted. Supplies to limit hurricane impact in Haiti critically low The Humanitarian Country Team in Haiti warned Wednesday that funding and pre-positioned contingency supplies are critically low ahead of what is forecast to be an above-average hurricane season. Haiti is highly vulnerable to extreme weather, with 96 per cent of the population at risk. Forecasts project 12 to 19 tropical storms and up to five major hurricanes this year. The alert comes as the fragile island nation grapples with a worsening humanitarian crisis. Armed gangs control much of the country, the collapse of essential services and growing displacement have left 5.7 million people food insecure, 1.3 million displaced and 230,000 living in makeshift shelters ill-equipped to withstand severe weather. Limited preparations Humanitarian actors have pre-positioned limited stocks of essential items, but they are at a record low for a hurricane season posing such high risk. For the first time, Haiti will begin the hurricane season without pre-positioned food supplies or the financial resources necessary to initiate a rapid response. Meanwhile, UN Humanitarian Office (OCHA) is coordinating missions with UN agencies and partners to assess how to safely resume aid operations in high-need areas, following their suspension on 26 May due to insecurity. 'I am deeply concerned for communities, families, and vulnerable groups who have already been affected by violence and are living in precarious conditions,' said Ulrika Richardson, Humanitarian Coordinator in Haiti, calling for immediate support. As of mid-June, the $908 million Humanitarian Response Plan for Haiti is just 8 per cent funded. Worsening cholera and hunger in South Sudan OCHA raised the alarm on Thursday over rising malnutrition and cholera cases in war-torn South Sudan. An estimated 2.3 million children under five urgently need treatment for acute malnutrition, a 10 per cent increase since last July. This crisis is unfolding amid the world's most severe cholera outbreak this year, with almost 74,000 cases and at least 1,362 deaths reported as of 16 June. The start of the rainy season and waning immunity risk a significant surge in infections. UN response The 2025 Humanitarian Needs and Response Plan for South Sudan is only 20 per cent funded. Despite limited resources and many challenges, the UN and partners have scaled up efforts, delivering vaccines and life-saving aid to contain the disease and protect the most vulnerable. 'This dire situation is a stark reminder that we need funding urgently to expand food assistance, to expand nutrition and expand health services to those who need it the most,' said UN Spokesperson Stéphane Dujarric at the daily briefing in New York.
New Straits Times
13 hours ago
- Business
- New Straits Times
Global investment decline may worsen due to tariffs, UN trade agency warns
GENEVA: Global foreign direct investment fell for the second consecutive year in 2024, with fears this year could be even worse as trade tensions rock investor confidence, the United Nations agency for trade and development said in a report published on Thursday. Foreign Direct Investment transactions, which do not include several European conduit economies, declined by 11 per cent, indicating a significant reduction in actual productive investment activity, according to UNCTAD. Geopolitical tensions and trade fragmentation contributed to lower investment last year as they created uncertainty, which UNCTAD Secretary-General Rebeca Grynspan described as a "poison" for investor confidence. "We are even more worried about the picture in already feel that investment is are affecting growth," Grynspan told Reuters, with short-term risk management being prioritised over long-term investment. UNCTAD said its outlook for international investment in 2025 was negative due to trade tensions. Early data for the first quarter of 2025 shows record low deal and project activity. When several European conduit economies - which act as intermediary hubs where investments temporarily pass through before reaching their final destinations - are included, the data showed that FDI increased by 4 per cent to US$1.5 trillion. However, UNCTAD noted that this figure masks the reality that much of this investment is merely passing through these jurisdictions and was not productive. "We see a very worrying that has a real impact on jobs and infrastructure is going down," she said. Developed economies suffered a sharp drop in investment, with a 58 per cent decrease in Europe. North America, however, observed a 23 per cent increase in FDI, led by the US, while countries in Southeast Asia reached the second-highest level of FDI on record with a 10 per cent rise, representing US$225 billion. Though capital inflows in developing countries were broadly stable, UNCTAD observed that capital was not being injected into crucial job-creating sectors such as infrastructure, energy and technology.
The Star
2 days ago
- Business
- The Star
UN trade agency says it faces 'painful' cuts as countries navigate tariffs
FILE PHOTO: The logo of the United Nations is seen in the General Assembly hall before heads of state begin to address the 76th Session of the U.N. General Assembly in New York City, U.S., September 21, 2021. REUTERS/Eduardo Munoz/Pool/File photo GENEVA (Reuters) -The United Nations trade and development agency, tasked with helping developing countries access the global economy, faces "painful" cuts as part of broader reforms prompted by a decline in global donor funding, its secretary general said. Rebeca Grynspan told Reuters she was concerned that UNCTAD's work will be hampered while demand for its services grows, as countries seek information on the impact of sweeping tariffs imposed by U.S. President Donald Trump. For UNCTAD's 2026 budget, Grynspan said she and her team had proposed cutting 70 posts, out of a total of about 500. "This is painful. There's no way to disguise this ... we haven't cut that number of posts ever in one budget," she said. "It really will constrain the organization and the things that we can do." U.N. agencies like UNCTAD are having to cut costs amid a financial crisis triggered in part by the U.S., which has provided nearly a quarter of the world body's funding, and longer term liquidity problems. "What worries me the most is the possibility to respond to countries in their needs fast enough," Grynspan said. Grynspan, who is part of the task force on broader UN80 reforms to improve efficiency and cut costs at the U.N., said she was involved in discussions on how to better divide tasks among the U.N's development agencies through collaboration. The U.N. Secretariat, the global body's executive arm, is preparing to slash its $3.7 billion budget by 20%. About 75 agencies and departments faced a June 13 deadline to propose budget cuts. The U.N. in Geneva is proposing leaving the historic Palais Wilson, which houses its human rights office. The final decision on UNCTAD's proposed budget will be made by the U.N. Secretariat and member states in September. (Reporting by Olivia Le Poidevin; Editing by Aidan Lewis)
Straits Times
2 days ago
- Business
- Straits Times
UN trade agency says it faces 'painful' cuts as countries navigate tariffs
FILE PHOTO: The logo of the United Nations is seen in the General Assembly hall before heads of state begin to address the 76th Session of the U.N. General Assembly in New York City, U.S., September 21, 2021. REUTERS/Eduardo Munoz/Pool/File photo GENEVA - The United Nations trade and development agency, tasked with helping developing countries access the global economy, faces "painful" cuts as part of broader reforms prompted by a decline in global donor funding, its secretary general said. Rebeca Grynspan told Reuters she was concerned that UNCTAD's work will be hampered while demand for its services grows, as countries seek information on the impact of sweeping tariffs imposed by U.S. President Donald Trump. For UNCTAD's 2026 budget, Grynspan said she and her team had proposed cutting 70 posts, out of a total of about 500. "This is painful. There's no way to disguise this ... we haven't cut that number of posts ever in one budget," she said. "It really will constrain the organization and the things that we can do." U.N. agencies like UNCTAD are having to cut costs amid a financial crisis triggered in part by the U.S., which has provided nearly a quarter of the world body's funding, and longer term liquidity problems. "What worries me the most is the possibility to respond to countries in their needs fast enough," Grynspan said. Grynspan, who is part of the task force on broader UN80 reforms to improve efficiency and cut costs at the U.N., said she was involved in discussions on how to better divide tasks among the U.N's development agencies through collaboration. The U.N. Secretariat, the global body's executive arm, is preparing to slash its $3.7 billion budget by 20%. About 75 agencies and departments faced a June 13 deadline to propose budget cuts. The U.N. in Geneva is proposing leaving the historic Palais Wilson, which houses its human rights office. The final decision on UNCTAD's proposed budget will be made by the U.N. Secretariat and member states in September. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Qatar Tribune
02-06-2025
- Politics
- Qatar Tribune
Qatar's Permanent Mission in Geneva honours winner of 'Doha Best Negotiator of the Year' award
GENEVA: The Permanent Mission of the State of Qatar to the United Nations Office in Geneva has organised an official ceremony at the Mission's headquarters to honour Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Rebeca Grynspan for winning the 'Doha Best Negotiator of the Year' Award, which is awarded annually by the United Nations Institute for Training and Research (UNITAR) in recognition of outstanding contributions to international negotiation and mediation. In her speech at the ceremony, Permanent Representative of the State of Qatar to the UN Office and other international organisations in Geneva HE Dr Hend bint Abdalrahman Al Muftah welcomed the attendees, including ambassadors, diplomats, and representatives of international organizations, as well as officials from the UNITAR and the ADN Group, an international agency specializing in negotiation. She said that the 2024 award is special to the State of Qatar, as it has been named the 'Doha Best Negotiator of the Year' Award, given its announcement during the Doha World Negotiation Day, hosted by the UNITAR and the ADN Group, in partnership with the Doha Forum. Organising this ceremony falls within the framework of the State of Qatar's commitment to promoting a culture of negotiation, mediation, and peaceful solutions, she added, noting that these principles constitute fundamental pillars of Qatari foreign policy. She further added that the award aims to honor individuals who effectively contribute to resolving international conflicts and finding humane, just, and sustainable settlements. Over the past two decades, the State of Qatar has acted as a neutral, reliable, and responsible mediator, and has achieved a remarkable record of successes in dozens of regional and international issues, including establishing ceasefires, restoring diplomatic relations, releasing hostages, exchanging prisoners, paving the way for national dialogue, resolving border disputes, achieving humanitarian outcomes, and concluding peace agreements in numerous regional and global conflicts, she said. She also commended the career of Grynspan who deserved the award for her pivotal role in the Istanbul agreements, including the Black Sea Initiative, which facilitated the export of millions of tons of grain and food supplies from Ukraine, helping to support global food security and reduce famine in low-income countries. Commending Grynspan's commitment to ethical standards, to protecting human rights, and to environmental considerations in the negotiation process, she emphasized that these values ​​represent the essence of effective diplomacy. The Permanent Representative of the State of Qatar to the United Nations in Geneva paid tribute to negotiators around the world who dedicate their efforts to achieving peace and saving lives, despite the grave challenges they face. She affirmed that Qatar will remain an effective international partner in supporting mediation and peaceful solutions. For her part, Grynspan conveyed her profound gratitude to the State of Qatar for this honor, affirming her commitment to continuing to work for a fair and comprehensive diplomacy that serves humanity and supports global stability.
