The war in the Middle East has disrupted the oil market on an unprecedented scale, practically blocking the Strait of Hormuz and stopping around 20 percent of the global flow of crude oil. However, prices increased only to the range of $90-100 per barrel instead of skyrocketing due to three factors.
Europe's natural gas price jumped 19 percent in July, but prices of oil, coal, and metals fell, leaving the world commodity index virtually flat, according to the World Bank.
EU signs IRIS² deal to expand satellite fleet to 348. Aimed at boosting security and emergency capacity by 50% with launches starting 2029 and billions in funding. It will provide secure and sovereign broadband services for emergency services and defense by 2029.
International tourism grew as almost 307 million people travelled overseas during the first quarter of 2026 (+ 2% year-on-year). However, the tourism recovery was uneven between regions, with Europe and Africa posting gains while Middle Eastern regions recorded a fall of 14%.
AI-enabled exports are transforming EAP economies, with Malaysia, Thailand, and Viet Nam at the forefront of a transition towards higher-value production based on technology.
By reprioritizing expenditures rather than taking on new debt, they approved a slight and short-term reduction of the non-oil fiscal deficit for 2026.If the shock worsens, Saudi Arabia will remain on a solid fiscal foundation.
South Asian businesses are patching over climate risk with fans and ACs, not fixing it. Basic upgrades won’t cut it without financing and technology to match; adaptation stays surface deep while climate threats keep falling underneath.
Flaring has grown from 2013 to 2016, burning more than 167 billion cubic meters of gases over the course of three years. Society can create a climate of job creation in engineering and technology, all while making the process of cooking much easier for women.
A new UNESCO report ahead of International Day for Countering Hate Speech on June 18 finds almost two-thirds of people worldwide are regularly exposed to online hate speech. The UN day marks the 2019 UN Strategy and Plan of Action on Hate Speech anniversary.
Over 1 billion young people in developing countries will seek work in the coming decade. With nearly every job requiring digital tools, closing the digital divide through affordable connectivity and digital skills training.
