International - The Purbottar

09 Oct

G20’s Cross-Border Payments Goals Likely to Miss 2027 Target

Mohini BarmanInternational

The Financial Stability Board (FSB) stated that the G20’s goal to make cross-border payments faster, cheaper, and more transparent by 2027 is likely to be missed. When first set in 2021, the targets included bringing average retail payment costs to 1% and ensuring 75% of payments are settled within an hour. But infrastructure complexity, regulatory differences, and coordination hurdles are hampering progress. Some improvements in settlement speed have occurred, but many users are still charged high fees and face opaque processes. The FSB report suggests the G20 may need to extend its deadline or set new benchmarks. Meanwhile, innovations like…

09 Oct

UN Cuts 25% of Peacekeeping Force Amid U.S. Budget Cuts

Mohini BarmanInternational

The United Nations has announced a dramatic 25 % reduction in its global peacekeeping presence, which will see 13,000–14,000 troops pulled from missions across more than 50 countries. This decision follows sharp cuts in U.S. funding—from $1 billion down to $680 million—as part of the Trump administration’s broader “America First” budget retrenchment. UN Secretary-General António Guterres defended the move, noting that peacekeeping has historically been one of the most cost-effective mechanisms for conflict prevention. However, several missions in Congo, South Sudan, Lebanon, and Somalia will be impacted, and over 60 UN offices are slated for staffing cuts up to 20…

08 Oct

WTO Warns U.S. Tariffs Could Cut Goods Trade Expansion

Mohini BarmanInternational

The World Trade Organization (WTO) has issued a stark warning that global goods trade growth will decelerate significantly in 2026, falling to just 0.5%, largely due to escalating tariffs imposed by the U.S. under the Trump administration. The jump in U.S. tariff rates—now nearing 17%, the highest since the 1930s—has created broad policy uncertainty. Many countries have refrained from retaliatory measures thus far, helping cushion the immediate blow. Still, the WTO projects that 2025 trade growth in goods will fare better at 2.4%, boosted by pre-tariff stockpiling in the U.S., robust AI-sector demand, and increased trade among emerging markets. While…

07 Oct

Historic Election Ushers New Era for Olympic Movement

Mohini BarmanInternational

Zimbabwean Olympian Kirsty Coventry has been elected president of the International Olympic Committee (IOC), becoming the first woman and the first African to hold the post in the IOC’s 131-year history. Coventry, a decorated swimmer with multiple Olympic medals, won 49 of 97 votes at the IOC session in Greece, defeating candidates from Europe. She pledged to emphasize diversity, inclusion, and gender balance within the Olympic movement. Observers expect her tenure to involve reforms in host city selection and increased representation of underrepresented regions. For global sports coverage, her election is a landmark. For African media and sports communities, it’s…

07 Oct

Millions Starve as Aid Cuts and Climate Shocks Combine

Mohini BarmanInternational

Afghanistan is reeling under a severe hunger crisis, with over 22 million people—more than half the population—now facing acute food insecurity, according to the latest IPC (Integrated Food Security Classification) estimates. The crisis stems from a combination of economic collapse, sharp reductions in international aid, climate extremes, and mass displacement. Rural areas are hardest hit, with drought destroying crops and driving families to rely on unsafe coping strategies. UN agencies warn that malnutrition rates among children under five are soaring; around 3.5 million children are already suffering from acute malnutrition. Aid organizations say funding shortfalls are hampering relief; the World…

06 Oct

UAE Prepares Landmark Forum Amid Global Sustainable Investment Push

Mohini BarmanInternational

Sharjah is set to host the Sharjah Investment Forum (SIF) 2025 on October 22–23 at the Al Jawaher Reception & Convention Centre. This edition is expected to be the largest yet, with over 10,000 delegates expected from 142 countries. In conjunction with the 29th World Investment Conference (WIC), the forum will focus heavily on sustainable development goals and bridging a global finance gap of USD 4.2 trillion needed by 2030. Key sessions will target smart manufacturing, clean energy, and green infrastructure. UAE officials have said the forum is part of the broader strategy to pivot the Gulf region from hydrocarbon…

26 Sep

Millions Rally, Italy Halts Amid Global Solidarity

Mohini BarmanInternational

Over 75 municipalities across Italy, including major cities, participated in a general strike to protest Italy’s role in the Gaza conflict. The strike, organized by multiple unions, aimed to halt arms shipments from Italian ports and call for a stronger stance on Gaza. Thousands marched through central Milan, Bologna, and Naples, confronting police and disrupting transportation. At least 60 people were injured and dozens arrested in clashes. Leaders demanded government accountability and a reevaluation of foreign policy. The protests represent one of the largest displays of public dissent in Italy in recent years, reflecting deep frustration with war and humanitarian…

26 Sep

Freeport’s Grasberg Mudslide Cuts Supply, Sends Metals Soaring

Mohini BarmanInternational

Copper prices have jumped sharply following a fatal mudslide at Freeport-McMoRan’s Grasberg mine in Papua, Indonesia — one of the world’s largest producers. The company has declared force majeure, citing major disruption to output and transportation routes. The Grasberg mine accounts for around 3% of global copper production, and the reduced supply has triggered concerns about deficits in 2025 and beyond. Analysts say the shock could ripple across commodity markets, especially in countries dependent on copper imports. Shares of major miners rose in response, while investors scrambled to reposition portfolios. Many see this as a reminder of the fragility of…

24 Sep

Airport Chaos Sparks Fears of Infrastructure Attacks

Mohini BarmanInternational

Flights were grounded in both Denmark and Norway after unauthorized drones were detected in the airspace near major airports overnight. The disruptions affected tens of thousands of passengers as flights were diverted or delayed across the region. Danish Prime Minister Mette Frederiksen described the incident as possibly the “most serious attack on Danish critical infrastructure to date.” Norwegian authorities also confirmed broad disruptions. Investigations are underway on whether the drone incursions were coordinated, with speculation about Russian involvement in light of regional tensions. NATO condemned airspace violations over Estonia just days earlier, heightening security concerns across Northern Europe. Analysts say…

23 Sep

Hurricane Lee Slams US East Coast

Mohini BarmanInternational

Hurricane Lee made landfall on the US East Coast on Friday, bringing heavy rainfall, strong winds, and coastal flooding across New England. Authorities evacuated thousands from vulnerable coastal towns, while airlines canceled more than 800 flights. Power lines collapsed in Massachusetts, leaving over 300,000 homes without electricity. Emergency services said rescue teams are working round the clock to clear roads and restore power. Meteorologists warn that climate change is making Atlantic storms more intense, causing longer-lasting damage. President Joe Biden has pledged federal aid to assist recovery.