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The Latest Breaking News from Developing Countries

G7 relaunches funding programme for developing countries under new name

Global Investment and Infrastructure Partnership, aimed at rivalling China, comes a year after Build Back Better World plan

The Guardian - UK

Italy's Draghi backs large investments in gas infrastructure in developing countries

Large investments in gas infrastructure in developing countries are needed, Italian Prime Minister Mario Draghi said as leaders of the Group of Seven rich democracies unveiled projects on energy and infrastructure financing on Sunday.

Reuters

G7 aims to raise $600 billion to counter China's Belt and Road

Group of Seven leaders pledged on Sunday to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries and counter China's older, multitrillion-dollar Belt and Road project.

Reuters

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Japan to pledge food assistance at G7 summit

Prime Minister Fumio Kishida plans to declare, at the Group of Seven summit to be held in Germany from Sunday to Tuesday, that Japan will provide food assistance to developing countries facing a food crisis due to the impact of Russia's armed aggression in Ukraine. Coordination is underway to extend…

The Japan News/Yomiuri

UN Chief Warns of ‘Catastrophe’ from Global Food Shortage

The head of the United Nations warned Friday that the world faces "catastrophe" because of the growing shortage of food around the globe. UN Secretary-General Antonio Guterres said the war in Ukraine has added to the disruptions caused by climate change, the coronavirus pandemic and inequality to produce an "unprecedented…

Asharq Al-Awsat

How Did Russia-Ukraine War Trigger a Food Crisis?

Russian hostilities in Ukraine are preventing grain from leaving the “breadbasket of the world" and making food more expensive across the globe, threatening to worsen shortages, hunger and political instability in developing countries. Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70%…

Asharq Al-Awsat

Boris Johnson breaks promise to deliver 100 million Covid vaccines to poor countries

Government accused of ‘profiteering’ by charging countries for surplus vaccines through the aid budget

The Independent UK

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Int'l Conference in Egypt Recommends Support for Developing Countries to Protect Environment

Parliamentary delegations from 60 countries concluded on Thursday activities of the eighth Inter-Parliamentary Union (IPU) Global Conference of Young Parliamentarians, which was held in Sharm el-Sheikh in Egypt’s South Sinai province. They underscored the importance of supporting developing countries to protect the environment and promote green investment. They also called…

Asharq Al-Awsat

UN climate talks end in stalemate and ‘hypocrisy’ allegation

Adviser says European nations are sourcing fossil fuels abroad but failing to help developing countries

The Guardian - UK

Report: UAE, Saudi Arabia, Egypt Are Region's FDI Hubs

The United Arab Emirates, Saudi Arabia and Egypt were ranked the first three, respectively, in the Arab world in attracting Foreign Direct Investment (FDI) for 2021, with investments topping $45 billion. FDI inflows to Arab countries, which rose by 42% in 2021, amounted to about $53 billion, 6.3% of which…

Asharq Al-Awsat

Egypt Calls for Increasing Response to Food Security Challenges in Developing Countries

Egypt has called for boosting the response to the food security challenges in developing countries. The Foreign Ministry said Egypt submitted a draft resolution to the World Trade Organization (WTO) on enhancing the organization's response to food security challenges in developing, net food-importing countries, and least developed countries. The draft…

Asharq Al-Awsat

China’s Southern Strategy

Beijing Is Using the Global South to Constrain America

Foreign Affairs

Ovarian Cancer Is A Leading Threat To Women’s Reproductive Health

Ovarian cancer is ranked among the top killers of women around the globe, especially in developing countries. Vigilance is a health necessity.

Zenger

Developing countries need much longer beyond 2050 to reach Net-Zero: Joint statement by India, China and other nations

Prime Minister Narendra Modi had told the COP26 global climate summit in Glasgow last year that India will meet a target of net zero emissions by 2070

The Hindu

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Roll Call

There’s Nothing Micro About a Billion Women: Mary Iskenderian on Microfinance - Roll Call

Mary Ellen Iskenderian, the CEO of Women’s World Banking, talks about microfinance helping women entrepreneurs in developing countries.

Asharq Al-Awsat

Egypt, IsDB Sign 13 Agreements, MoUs

Egypt signed 13 agreements and memoranda of understanding with the Islamic Development Bank (IsDB) on the third day of the 47th annual meetings of the IsDB in Sharm El-Sheikh. The agreements and MoUs were signed in most economic sectors to confront global challenges that are increasing pressure on developing countries.…

The Hindu

Environment Minister seeks a relook at IP regime

Bhupender Yadav asks developed nations to commit expertise and money to curb industrial pollution

The Hindu

Building peace and prosperity with strong BRICS

The BRICS partnership is ‘walking together to walk far’ to build a community with a shared future for mankind

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The Hindu

Be wary of growing exports

The growing consumption in rich countries has come at a cost for developing countries such as India

Reuters

G20 pandemic fund ploughs ahead amid fears world not ready for future threats

A multi-billion dollar fund set up by G20 countries to help developing countries better prepare for pandemics could be operational within months, according to the World Bank.

Asharq Al-Awsat

Egypt Wants to Shift Focus to Developing Countries in Climate Talks, Says Official

Egypt will position itself as an impartial arbiter while hosting this year's COP27 UN climate summit, as it pushes other nations to act on climate pledges while promoting the interests of the developing world, a senior Egyptian official said. Egypt would also welcome protests within the rules of the Nov.…

Reuters

Egypt wants to shift focus to developing countries in climate talks -official

Egypt will position itself as an impartial arbiter while hosting this year's COP27 U.N. climate summit, as it pushes other nations to act on climate pledges while promoting the interests of the developing world, a senior Egyptian official said.

Asharq Al-Awsat

Egypt Promises to Push Pledges as COP27 Host

Egypt, host of the next United Nations summit on climate change, will push countries to make good on their pledges to sharply reduce greenhouse gas emissions, facilitate "non-adversarial" talks on compensation to developing countries for global warming impacts and allow climate activists to protest, said the incoming president of COP27.…

Asharq Al-Awsat

UN Drops Forecast for Global Economic Growth in 2022 to 3.1%

The United Nations on Wednesday significantly lowered its forecast for global economic growth this year from 4% to 3.1%, saying the war in Ukraine has triggered increasing global food and commodity prices and exacerbated inflationary pressures, upending the fragile recovery from the COVID-19 pandemic. The mid-2022 forecast from the UN…

The Independent UK

UN drops forecast for global economic growth in 2022 to 3.1%

The United Nations is significantly lowering its forecast for global economic growth this year from 4% to 3.1%

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