Shaping Nepal’s green and inclusive future
Nepal’s climate-vulnerable economy, heavily reliant on agriculture, tourism, construction, and forestry, is already grappling with the impacts of climate change such as droughts, heavy rainfall, floods, glacial melting, and heatwaves. These disruptions together with inadequate social protection mechanisms are threatening livelihoods, food security, and employment, disproportionately affecting informal workers, rural communities, and women, while worsening poverty and inequality.
Despite these challenges, the transition toward a greener and more climate-resilient economy presents a vital opportunity to create decent jobs, foster sustainable enterprise development, and strengthen social protection systems. However, this shift must be managed inclusively to avoid deepening existing socio-economic vulnerabilities and bringing human-centred approach while taking any climate actions or transitions.
In a pivotal move to integrate climate action with social equity, the ILO, in collaboration with the Government of Nepal, convened a national sensitization workshop on Just Transition on 25 June 2025 bringing together around 50 representatives from relevant government ministries, employers’ and workers’ organizations, private sector actors, UN agencies and other development partners, and civil society. It focused on the critical role of Just Transition in Nepal’s development agenda and exploring ways to implement just transition component built into the country’s third Nationally Determined Contributions (NDC 3.0) and the ongoing initiative of Global Accelerator on Jobs and Social Protection for Just Transitions.
Sri Lanka’s consumer prices rose 0.6pc
Sri Lanka’s consumer prices climbed 0.6 percent year-on-year last month, official data showed on Monday, after a 0.8 percent decline in April, as the economy recovers from its worst financial crisis in decades.
The National Consumer Price Index captures broad retail price inflation and is released with a lag of about three weeks every month.
Sri Lanka’s economy grew 4.8 percent in the first quarter compared to the prior-year period, after a severe dollar shortfall three years ago plunged the country into a financial crisis and sent inflation soaring to 70 percent at its height.
Inflation is only expected to reach the Sri Lankan central bank’s target of 5 percent in 2026, analysts said in May.
“Inflation is picking up a little ahead of schedule,” said Shehan Cooray, head of research at HNB Stockbrokers, who said inflation was likely to go up in June due to an increase in power prices, but expected it to remain below 5 percent this year.
At ‘Summer Davos’, Li Qiang tells China will be major consumption power: as it happened
Chinese Premier Li Qiang gave the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning.
The world’s second-largest economy has largely withstood the tariff war launched by US President Donald Trump in April, but it still faces external challenges. The 90-day trade truce with the United States is set to expire, tensions are still high with the European Union and conflicts rage in the Middle East, exacerbated by the US bombing of Iran nuclear facilities over the weekend.
To compensate, Beijing hopes to empower its domestic market while safeguarding its position in global supply chains. Top officials have already stepped up a charm offensive for foreign businesses and investors, and a recently enacted law on the promotion of the private economy is intended to unleash entrepreneurship in the country and help drive its economic growth.
India’s economic ascent to a $4.2 trillion GDP in 2025
India’s economic ascent to a $4.2 trillion GDP in 2025 has been hailed as a historic achievement. The country is now ranked the world’s fourth largest economy by current dollar terms, surpassing Japan. From summit speeches to television debates, the triumphalist narrative hides a quieter, discomforting reality.
For a country of over 1.4 billion people, the scale of economic output should mark a turning point: better living standards, more opportunity for its citizens, and stronger government support for basic needs. But when measured against how much the average Indian earns, the picture begins to fracture.
At just $2,880, India’s per capita income lags behind much smaller economies like Vietnam ($4,810) and the Philippines ($4,350). In global terms, it ranks around 139th in per capita GDP. The average Indian earns in a year what a German earns in under a month. This is more than an income gap; it’s a gulf in life chances.
This is not just a problem of inequality but a deep-rooted pattern of systemic exclusion. The World Inequality Report 2022 shows that the top 1 percent of Indians hold over 40 percent of the country’s wealth while the bottom half, over 700 million own just 5.9 percent. Economic growth in India has become intensely vertical, enriching those already ahead while failing to uplift those who are most in need.
IMF lowers Bangladesh’s GDP growth for FY26 to 5.4pc
The International Monetary Fund (IMF) has lowered Bangladesh’s GDP growth projection to 5.4 percent for the 2025-26 fiscal year from its earlier forecast of 6.5 percent.
In a press release issued yesterday (23 June), the global lender said the economic outlook has worsened due to persistent political uncertainty, continuation of tighter policy mix, rising trade barriers, and increasing stress in the banking sector.
“Bangladesh’s macroeconomic challenges have increased since the popular uprising in the summer of 2024, which led to the ouster of the previous government. The timely formation of an interim government has helped stabilize political and security conditions, fostering a gradual return to economic stability,” reads the release.
Meanwhile, for the current fiscal year, the IMF now expects a 3.8 percent growth rate, which is lower than the Bangladesh Bureau of Statistics’ estimate of 3.97 percent.
ASEAN and Japan’s Collaborative Efforts in Greenwashing the Economy
The Association of Southeast Asian Nations (ASEAN) and Japan have ramped up efforts to link economic growth with climate action. At the 26th ASEAN-Japan Summit on September 6, 2023, they launched a comprehensive strategic partnership focused on green infrastructure, energy transition, connectivity, and the digital economy. They also introduced the “ASEAN-Japan Economic Co-Creation Vision” to push forward sustainable regional development.
Despite bold promises, ASEAN and Japan face growing criticism over “word-deed gaps”—the disconnect between what they say and what they do. Japan remains one of the world’s top fossil fuel importers and still invests in coal, making it the fifth-largest emitter globally. ASEAN countries also cling to carbon-heavy industries, missing the chance to lead in green growth. Even Japan’s infrastructure projects in the region often contradict its clean energy goals, worsening environmental problems instead of solving them. So the question remains: Are they genuinely committed to sustainability or just protecting business interests?
Indonesia introduces first health special economic zone in Bali
Indonesian President Prabowo Subianto on June 25 emphasised that Sanur Health Special Economic Zone (SEZ) is a breakthrough, marking the first time the country has established a SEZ specialising in the health sector.
Speaking at the inauguration of the Sanur Health SEZ and Bali International Hospital (BIH) in Denpasar, Bali, on June 25, Prabowo expressed his belief that this will offer healthcare services at a global standard.
He appreciated the efforts of all stakeholders, especially former President Joko Widodo, who initiated this national strategic project, and foreign investors who contributed to the realisation of the Sanur Health SEZ.
According to the Indonesian leader, the zone is one of the solutions for Indonesia to catch up with other countries, especially in the health sector, and should be replicated in other sectors. He also affirmed that the Indonesian government will be accountable for every penny of the people’s tax money.
The 41.26-ha Sanur Health SEZ is expected to attract about 10.2 trillion IDR (about 620 million USD) in investment and create more than 43,000 jobs.
The project is expected to attract between 123,000 and 240,000 patients by 2030, especially Indonesians who previously had to travel abroad for medical treatment.
President of Uzbekistan mentions importance economic partnership with Malaysia
The President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation led by the Deputy Prime Minister of Malaysia and Minister for Energy Transition and Water Resources Transformation, Fadillah bin Yusof.
The high-level Malaysian delegation is visiting Uzbekistan to conduct bilateral talks and participate in the United Nations Public Service Forum in the city of Samarkand.
Deputy Prime Minister Fadillah bin Yusof conveyed the sincere greetings and best wishes of Prime Minister Anwar Ibrahim to the President of Uzbekistan.
The meeting focused on further expanding the multifaceted partnership between Uzbekistan and Malaysia, particularly in implementing the agreements reached during the high-level visit to Kuala Lumpur in February of this year.
The intensification of contacts, visits, and exchanges at various levels was noted with great satisfaction. Since the beginning of the year, bilateral trade has increased by 25 percent. The number of joint ventures has grown, along with the frequency of air travel between the two countries.
Africa and Singapore’s economic synergy
As global trade navigates turbulent waters, the partnership between Africa and Singapore is emerging as a model of mutual growth. Both regions are bridging capabilities to chart a sustainable future.
Four pillars are driving Africa-Singapore economic ties. The first is market diversification. Africa’s 1.3bn consumers, rapid urbanisation and rising digital adoption offer Singaporean firms a compelling expansion opportunity amid global trade uncertainties. The African Continental Free Trade Area (AfCFTA), with its $3 trillion combined GDP, is transforming the continent into the world’s largest free trade zone, reducing barriers and fostering intra-African commerce. “The AfCFTA enables greater market access, making Africa an attractive destination for Singapore companies,” Ghosh says.
Conversely, Singapore serves as a strategic hub for African businesses targeting Southeast Asia and broader Asian markets, leveraging its robust infrastructure and networks. “Singapore can be an effective base for African firms to access these destination markets,” he adds.
The second driver is a shared commitment to tackle climate change. Both regions face environmental vulnerabilities, spurring innovative partnerships. Recent Implementation Agreements, under Article 6 of the Paris Agreement, with Ghana and Rwanda—soon to be followed by others—facilitate carbon credit projects. These initiatives deliver high social impact in African host countries, reduce local carbon footprints and enable Singapore to offset emissions. “This collaboration channels technical expertise, green finance and project execution capacity between our regions,” Ghosh explains, noting the potential for scalable, high-impact projects.
Third, the reordering of global supply chains, driven by tariff wars and geopolitical disruptions, positions Africa as a vital manufacturing hub. Singaporean companies are already producing goods on the continent for domestic and export markets, with scope for further investment. The AfCFTA’s integration efforts are enhancing Africa’s role in global supply chains, creating opportunities for Singaporean firms to establish manufacturing bases and tap into the continent’s growing consumer demand.
Finally, a mutual drive for learning and growth underpins these efforts. Singapore’s journey from a developing to a first-world economy in a single generation resonates with African nations pursuing similar ambitions. At the governmental level, Singapore shares expertise in policy frameworks, financial management, investor attraction and enterprise development. At the enterprise level, Singaporean firms bring technical competence and execution know-how, forming partnerships that transform African visions into tangible outcomes.