This paper examines the distinct and interactive effects of state capacity (SC) and institutional quality (IN) on real GDP per capita growth across up to 130 countries over the period 1970–2022. Using a novel identification strategy that isolates large, exogenous governance shocks via both residual-based and percentile-based approaches, we estimate dynamic responses using local projections. We find that SC and IN shocks yield positive and persistent growth effects, particularly in emerging and developing economies, where governance gaps are most binding. Institutional reforms generate the strongest gains. In contrast, SC shocks show weaker effects on average, though they become highly effective when implemented alongside institutional improvements, highlighting a strong complementarity. Results are robust to alternative shock definitions and endogeneity concerns. A two-stage least squares (2SLS) approach using income-group-based democratization waves and natural disasters as instruments confirms the validity of our shocks, with IV estimates closely tracking the baseline, except for government effectiveness (GEE) shocks, where the IV point estimate is significantly larger. These findings suggest that endogeneity is not a major concern, and underscore that targeted institutional reforms, particularly when supported by capable state structures, can deliver substantial economic dividends.
This paper examines Spain’s investment performance five years after the COVID-19 pandemic. As of 2024, investment had only returned to pre-pandemic levels and remained below historical fundamentals and euro area peers, particularly in transport equipment and other construction. Macroeconomic analysis identifies elevated economic policy uncertainty as a factor holding back investment. Moreover, firm-level data show that investment among small and younger to middle-aged Spanish firms is less responsive to profitability than in comparable firms in larger euro area economies, further suggesting that uncertainty is weighing on investment decisions. For younger and middle-aged firms, high leverage during the pandemic also points to binding financial constraints.
International Monetary Fund. Western Hemisphere Dept. “Honduras: Third Reviews Under the Extended Fund Facility and the Extended Credit Facility Arrangements, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Honduras”, IMF Staff Country Reports 2025, 131 (2025), accessed June 16, 2025, https://doi.org/10.5089/9798229014069.002
India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased further to a 14-month low of 0.39% in May, down from 0.85% in April and 2.05% in March, according to data released by the Ministry of Commerce and Industry on Monday.
The month-over-month change in WPI inflation during May was in the negative zone at (-0.06%) compared to April, reflecting a continuing downward trend in inflation. A decline in the prices of food items as well as fuels such as petrol and diesel contributed to the negative month-on-month inflation rate.
The country’s inflation rate based on the Consumer Price Index (CPI) also declined to 2.82% in May 2025, compared to the same month in the previous year. This marks the lowest level of retail inflation since February 2019, according to figures released last week.
Food inflation declined to 0.99% in May — the lowest since October 2021. This is the seventh consecutive month of decline in food inflation, largely due to improved agricultural output.
The Reserve Bank of India (RBI) has revised its inflation outlook for 2025–26 downward — from the earlier forecast of 4% to 3.7%, RBI Governor Sanjay Malhotra said on Friday. The sharp decline in inflation has enabled the RBI to implement a 50 basis point cut in the repo rate, reducing it from 6% to 5.5%, as part of its latest monetary policy review to spur economic growth.
Additionally, the RBI announced a 100 basis point reduction in the Cash Reserve Ratio (CRR), from 4% to 3%, to be implemented in four tranches of 25 basis points each. This measure is expected to inject Rs 2.5 lakh crore into the banking system, enhancing liquidity and supporting credit flow.
Malhotra highlighted that inflation has significantly softened over the past six months — falling from above the upper tolerance band in October 2024 to well below the target. He noted signs of broad-based moderation.
“The near-term and medium-term outlook now gives us the confidence not only of a durable alignment of headline inflation with the target of 4%, as expressed in the last meeting, but also the belief that during the year, it is likely to undershoot the target slightly,” he said.
The central government on Monday formally notified the conduct of the next decennial census to be held in 2027, exercising its authority under Section 3 of the Census Act, 1948. The new notification issued by the Ministry of Home Affairs supersedes an earlier order from March 2019, which had set the schedule for the Census originally planned for 2021 but later postponed indefinitely due to the COVID-19 pandemic.
According to the notification, the census will be carried out across the country with the reference date set on March 1, 2027. This reference date will be applicable throughout India, with the exception of certain snow-bound and hard-to-reach regions.
For the Union Territory of Ladakh and the snow-bound, non-synchronous areas of the Union Territory of Jammu and Kashmir, and the states of Himachal Pradesh and Uttarakhand, the census reference date has been set on October 1, 2026. These regions have traditionally followed an earlier reference date owing to logistical constraints posed by extreme weather and terrain.
The central government on Monday formally notified the conduct of the next decennial census to be held in 2027, exercising its authority under Section 3 of the Census Act, 1948. The new notification issued by the Ministry of Home Affairs supersedes an earlier order from March 2019, which had set the schedule for the Census originally planned for 2021 but later postponed indefinitely due to the COVID-19 pandemic.
According to the notification, the census will be carried out across the country with the reference date set on March 1, 2027. This reference date will be applicable throughout India, with the exception of certain snow-bound and hard-to-reach regions.
For the Union Territory of Ladakh and the snow-bound, non-synchronous areas of the Union Territory of Jammu and Kashmir, and the states of Himachal Pradesh and Uttarakhand, the census reference date has been set on October 1, 2026. These regions have traditionally followed an earlier reference date owing to logistical constraints posed by extreme weather and terrain.
The annual Best Foot Forward challenge, organised by the Rotary Club of Wolverhampton, takes place on Saturday 28 June, 2025, at WV Active Aldersley from 8am to 8pm, with all proceeds going to The Wolverhampton MS Therapy Centre, Central Youth Theatre and The Rotary Charitable Trust.
The event is supported by around 40 community minded corporate Patrons who have created a fund which will be released by those taking part. During the course of the event, every completed lap of the stadium will unlock £1 from the fund which will go to the chosen charities, The Wolverhampton MS Therapy Centre, Central Youth Theatre of Wolverhampton and The Rotary Charitable Trust.
Participants can spend as long or as little as they choose at the event and return as often as they want during the course of the day, with a personal chip keeping tally of how many laps have been covered. When finishing for the day a certificate is available, recording the number of laps covered.
The event was first held in 2013, and in 10 editions since has raised over £200,000 for good causes.
Councillor Obaida Ahmed, the City of Wolverhampton Council’s Cabinet Member for Health, Wellbeing and Community, said: “We are delighted to be making WV Active Aldersley available once again for this important annual fundraiser.
“This unique event provides the opportunity to take exercise at your own pace and will provide lots of benefits. Exercise is great for physical and mental health, helping to build stamina, burn calories and make the heart healthier, while at the same time knowing that you are completing a challenge that will help others is also immensely rewarding.
“The essential difference between Best Foot Forward and a typical sponsored walk or run is that, for the latter, entrants are required to sign up personal sponsors and then collect and pay over the sponsorship monies.
“For this event, there is no obligation to seek personal sponsorship – all you need to do is take part, because the charity funding comes from elsewhere.”
As part of Refugee Week 2025 (16-22 June), Birmingham City Council is raising awareness of the life-saving support available for refugee and migrant survivors of domestic abuse.
Working in partnership with the Refugee and Migrant Centre, Central England Law Centre, and the NRPF Network, the campaign draws attention to the significant barriers many survivors face — including No Recourse to Public Funds (NRPF), language barriers, and lack of access to safe housing.
Thanks to funding through the Council’s Domestic Abuse Community Grants, the Refugee and Migrant Centre, working in partnership with specialist domestic abuse services, is supporting survivors. This includes offering expert immigration advice and advocacy in over 40 languages, helping survivors claim asylum, regularise their immigration status, or access financial support.
Survivors with NRPF, including those whose asylum claims have been refused, can also receive legal advice and representation through the Central England Law Centre. Their work with local domestic abuse providers ensures access to support such as the Destitute Domestic Violence Concession (DDVC) — a vital legal route to safety.
Councillor Jamie Tennant, Cabinet Member for Social Justice, Community Safety and Equalities, said:
“Refugee Week is a time for reflection and action. No one should be trapped in an abusive situation because of their immigration status. Here in Birmingham, we’re proud to stand alongside our partners to ensure that survivors get the help they need — with dignity, compassion, and justice. We are committed to making sure no one is left behind.”
The Council aims to raise awareness by sharing real survivor stories, busts harmful myths about migrant access to services, and provides practical information on where to get help. Each day focuses on a different theme, from legal support and housing rights to survivor voices and community solidarity.
Where to Get Help
If you or someone you know is affected by domestic abuse, support is available:
Birmingham Domestic Abuse Hub:
Call 0808 800 0028 Monday to Friday, 9am – 5pm.
Visit www.bswaid.org (Webchat open Monday to Friday from 10am – 4pm)
The hub also has a women only drop-in service at Bank House, 36 Bristol Street, Birmingham B5 7AA. Opening times are: Monday and Tuesday 10:00am to 4:00pm, Wednesday 1:00pm to 4:00pm, Thursday and Friday 10:00am to 4:00pm
Home » Latest News » Public meeting on Curtis Wood’s future management
Local people can find out more about how Curtis Wood will be cared for in the coming years at a public meeting next month.
Curtis Wood is a 13-acre site, designated as a Local Nature Reserve, in Herne. It is known for its woodland flowers, meadow areas and variety of wildlife, and is owned and looked after by the city council.
The meeting at the Herne Centre on Tuesday 1 July between 6.45pm and 7.45pm will see the council setting out its new management plan for the woodland area and hearing the views of residents.
The plan details measures to allow more light to reach the woodland floor, creating better conditions for woodland flowers to establish and spread, and steps to prevent bluebells close to footpaths from being trampled.
In addition, the council is keen to involve local people in recording wildlife sightings, which will provide information to guide future management of the wood.
This focus on local involvement is particularly important as it follows an incident last year where work to cut back some of the woodland caused concern within the community, from which lessons have been learned.
The council’s recently-appointed Tree and Woodland Officer, Martin Thomas, will give a presentation, followed by an open discussion to hear residents’ views.
The event will be opened by Cabinet member for the environment and climate change, Cllr Mel Dawkins.
Cllr Dawkins said: “We know there is plenty of passion locally about our woodlands and open spaces, so we are expecting a good turnout for this meeting.
“Curtis Wood is one of our most precious areas of woodland in the district. We can reassure residents that there are no wholesale changes or over management – this is much more about the relatively small things we can do to enhance the site for biodiversity and wildlife.
“We really hope people will want to get involved in what we are seeking to do and help with how we want to look after this important site in the years ahead.”
No pre-booking is required for the meeting – just pop along.
Source: United Kingdom – Executive Government & Departments 3
Press release
Employers recognised for their defence support with 2025 ERS Silver Awards
The Ministry of Defence is pleased to announce that 307 organisations have been awarded the Defence Employer Recognition Scheme (ERS) Silver Award for 2025.
Framed Silver ERS Awards. Copyright: RFCA.
The ERS Silver Award recognises employers who have shown exceptional support to the armed forces community, including reservists, veterans and military families. These employers have gone beyond their Armed Forces Covenant commitments to embed supportive HR policies, promote defence values, and advocate for service personnel in the civilian workforce.
Awardees typically demonstrate:
paid leave for reservist training and mobilisation
active veteran recruitment and retention policies
flexible support for military families
visible leadership endorsement of the Armed Forces Covenant
Major General Jamie Gordon, Chief Executive of the Council of Reserve Forces’ and Cadets’ Associations, said:
These Silver Award winners are trusted allies of defence. They don’t just talk about support—they show it, every day, through flexible policies, visible advocacy, and long-term commitment to those who serve. This is about more than good intentions, it’s about practical, sustained support that strengthens our national resilience. It is very pleasing that they have been recognised for all they do for our reservists, veterans and cadets.
The announcement forms part of defence’s broader strategy to build closer relationships with industry and civil society in support of a modern, adaptable armed forces.
Find out how your organisation can support the armed forces community through the Armed Forces Covenant and Defence Employer Recognition Scheme:
Source: Hong Kong Government special administrative region
FS to visit Shanghai tomorrow The Secretary for Financial Services and the Treasury, Mr Christopher Hui, will participate in the visit.
Mr Chan will return to Hong Kong in the afternoon of June 18. During his absence, the Deputy Financial Secretary, Mr Michael Wong, will act as Financial Secretary. During Mr Hui’s absence, the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, will be the Acting Secretary for Financial Services and the Treasury. Issued at HKT 17:00
The European Union’s budget—known as the Multiannual Financial Framework (MFF)—has over time been a key tool for enhancing economic efficiency, achieving redistribution, and helping the Union tackle pressing challenges. As the Union navigates an increasingly complex global environment and faces looming structural and demographic changes, it is increasingly evident that decisive EU-level actions will be needed to boost productivity and resilience. The MFF is a critical policy lever that can enable the needed EU-level actions. This paper argues for three key changes to the next MFF (2028-34) to help the budget play this role. First, bottom-up estimates of investment needs suggest that spending on European Public Goods to boost productivity and resilience needs to be increased to at least twice the current level. While this would require an at least 50 percent increase in the budget’s size or about 0.6 percent of EU GNI annually (if spending on programs such as the Cohesion Policy and Common Agricultural Policy is kept unchanged), focusing on activities that maximize positive externalities and reduce costly duplication can generate net positive values for member states. Second, reforms are needed to make the budget more streamlined, responsive to evolving needs, and more effective by incentivizing good performance. Lastly, the financing framework should be strengthened by integrating borrowing as a regular tool, alongside greater own resources to bolster debt service capacity. Increasing own resources by about 0.2 percent of GNI annually to cover peak debt servicing costs along with additional reserves for unexpected challenges would likely provide financial security to support the proposed increase in the budget. A clearer focus on strategic investments and measurable outcomes will reinforce the budget’s positive sum value, helping build support for a more ambitious EU budget.
The European Union’s budget—known as the Multiannual Financial Framework (MFF)—has over time been a key tool for enhancing economic efficiency, achieving redistribution, and helping the Union tackle pressing challenges. As the Union navigates an increasingly complex global environment and faces looming structural and demographic changes, it is increasingly evident that decisive EU-level actions will be needed to boost productivity and resilience. The MFF is a critical policy lever that can enable the needed EU-level actions. This paper argues for three key changes to the next MFF (2028-34) to help the budget play this role. First, bottom-up estimates of investment needs suggest that spending on European Public Goods to boost productivity and resilience needs to be increased to at least twice the current level. While this would require an at least 50 percent increase in the budget’s size or about 0.6 percent of EU GNI annually (if spending on programs such as the Cohesion Policy and Common Agricultural Policy is kept unchanged), focusing on activities that maximize positive externalities and reduce costly duplication can generate net positive values for member states. Second, reforms are needed to make the budget more streamlined, responsive to evolving needs, and more effective by incentivizing good performance. Lastly, the financing framework should be strengthened by integrating borrowing as a regular tool, alongside greater own resources to bolster debt service capacity. Increasing own resources by about 0.2 percent of GNI annually to cover peak debt servicing costs along with additional reserves for unexpected challenges would likely provide financial security to support the proposed increase in the budget. A clearer focus on strategic investments and measurable outcomes will reinforce the budget’s positive sum value, helping build support for a more ambitious EU budget.
Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Israel struck an installation at Iran’s South Pars gas field on Saturday, the first attack on Iran’s oil and gas sector as part of what the Israeli government had warned would be a prolonged operation to prevent Tehran from building an atomic weapon.
Iran has partially suspended gas production from the South Pars field, Iran’s portion of the world’s largest natural gas reserve, which lies beneath the Gulf and is shared with major gas exporter Qatar.
Israel also struck a Tehran fuel depot and an oil refinery near the capital on Saturday, Iran said, but authorities said the situation was under control.
Following are some facts on the country’s energy industry, exports, and the impact of previous Western sanctions.
WORLD’S LARGEST GAS RESERVE
Iran produces natural gas from the offshore South Pars gas field, which makes up around a third of the world’s largest reservoir of natural gas.
Iran shares the reservoir with major gas exporter Qatar, which calls its field the North Dome.
Sanctions and technical constraints have meant most gas Tehran produces from the South Pars field is for domestic use in Iran.
Iran’s total natural gas production totalled 266.25 billion cubic meters in 2023, with domestic consumption accounting for 255.5 bcm, according to data by the Gas Exporting Countries Forum, a grouping of gas exporter nations.
About 15.8 bcm of natural gas were exported, the Forum said.
Saturday’s attack struck four units of Phase 14 of South Pars, around 200 kilometres from Qatar’s gas installations, many of which are joint ventures with major international energy firms, including U.S. giants ExxonMobil and ConocoPhilips.
Doha has made hundreds of billions of dollars exporting liquefied natural gas to global markets for nearly three decades.
The entire reservoir contains an estimated 1,800 trillion cubic feet of usable gas – enough to supply the entire world’s needs for 13 years, or to generate enough electricity to supply the U.S. for more than 35 years.
SANCTIONS AND OPEC
Iran’s oil production was at its peak in the 1970s, with record output of 6 million bpd in 1974, according to OPEC data. That amounted to more than 10% of world output at the time.
In 1979, the U.S. imposed the first wave of sanctions on Tehran. Since then the country has been the target of several waves of U.S. and European Union sanctions.
The U.S. tightened sanctions in 2018 after Trump exited a nuclear accord during his first presidential term. Iran’s oil exports fell to nearly zero during some months.
Exports rose steadily under Trump’s successor President Joe Biden’s administration, with analysts saying sanctions were less rigorously enforced and Iran had succeeded in evading them.
Iran is exempt from OPEC+ output restrictions.
WHO IS THE MAIN BUYER OF IRANIAN OIL?
Iran’s crude exports have risen to a multi-year high of 1.8 million bpd in recent months, the highest since 2018, driven by strong Chinese demand.
China says it does not recognise sanctions against its trade partners. The main buyers of Iranian oil are Chinese private refiners, some of whom have recently been placed on the U.S. Treasury sanctions list. There is little evidence, however, that this has impacted flows from Iran to China significantly.
Iran has for years evaded sanctions through ship-to-ship transfers and hiding ships’ satellite positions.
PRODUCTION AND INFRASTRUCTURE
Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, extracts about 3.3 million barrels per day of crude oil, and another 1.3 million bpd of condensate and other liquids, totalling about 4.5% of global supplies.
It exported about 1.8 million bpd of crude and condensate in May, close to a 2018 peak, according to Kpler, processing the remainder of its production in its domestic refineries with a total capacity of 2.6 million bpd, according to consultancy FGE.
It exported nearly 750,000 bpd of oil products, including LPG, in May, according to Kpler.
The country also produces 34 billion cubic feet of gas per day, according to FGE, accounting for 7% of global production. All gas is consumed domestically.
Iran’s hydrocarbon production facilities are primarily concentrated in the southwest, in the Khuzestan province for oil and in the Bushehr province for gas and condensate from the giant South Pars field.
It exports 90% of its crude via Kharg Island.
Analysts say Saudi Arabia and other OPEC members could compensate for the drop of Iranian supply by using their spare capacity to pump more. However, with a number of producers in the group currently in the process of raising output targets, their spare capacity is becoming more strained.
Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware:
BaFin warns consumers about fraudulent term deposit offers.
You can view BaFin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraudsters on the financial market in the “Recognising financial fraud” section of our website.
What is needed for poor countries to catch up with rich ones? This paper first documents the role of human capital, physical capital, and financial development in convergence in manufacturing labor productivity across countries, and then examines the influence of economic structure and financial development at the aggregate level. Using industry-level data from manufacturing industries in a large set of countries over the period 1980-2022, we show that manufacturing industries exhibit strong unconditional convergence over time, but there is variation in the pace of convergence: Greater reliance on human capital in an industry is linked to faster convergence, whereas dependence on physical capital has no bearing. Instead, industries with a greater dependence on physical capital see convergence only if there is sufficient financial development. At the country level, we find that convergence tends to be faster as countries shift away from agriculture (which typically requires less human capital), and towards industrial production or services. Furthermore, poorer countries that initially have a higher share of agriculture in their GDP have been shifting away from agriculture at a faster rate, which may have contributed to the observed aggregate convergence. Greater financial development is also linked to faster convergence at the country level.
The NHS Cervical Screening Programme saves thousands of lives every year by checking for high risk Human Papillomavirus (HPV), a group of viruses that cause nearly all cervical cancers.
Cervical cancer may not cause noticeable symptoms in its early stages, but as the disease progresses, common symptoms include unusual vaginal bleeding, like after sex, between periods, or after menopause, changes in vaginal discharge, and pelvic pain. Advanced cervical cancer may also cause symptoms like back pain, leg swelling, or problems with urination or bowel movements.
Screening is recommended for women aged 25 to 64, with invitations typically sent every 3 years for those aged 25 to 49 and every 5 years for those aged 50 to 64.
Councillor Obaida Ahmed, the City of Wolverhampton Council’s Cabinet Member for Health, Wellbeing and Community, said: “Around 850 women die from cervical cancer each year, with incidence rates highest in women aged 30 to 34, but research shows that the HPV vaccine, combined with cervical screening, can bring that number right down.
“Encouraging more eligible people to receive their free HPV vaccine and attending screening remains a key priority for us.
“Cervical cancer is treatable and curable especially if diagnosed early. Many people survive cervical cancer if diagnosed at the earliest stage, so early detection really does save lives.
“If you’ve received your invitation, call your GP practice to book as soon as possible – evening and weekend appointments may be available. And if you missed your last cervical screening, call your GP now as it’s not too late.”
The council and the NHS in the Black Country are holding a cancer awareness drop-in session at Bilston Market this Thursday (19 June) from 9.30am to 1.30pm. People can get information and advice about cancer signs, symptoms and screening, as well as how to enjoy a healthier lifestyle.
Cervical Screening Awareness Week runs from Thursday (19 June) to Tuesday 24 June, 2025.
Source: Novosibirsk State University – Novosibirsk State University –
The results of the VIII season of the All-Russian student Olympiad “I am a professional” of the presidential platform “Russia – the country of opportunities” have been summed up. NSU demonstrated the highest results in the region: among the university students there are 75 diploma winners and 6 medalists.
The new season of the Olympiad involved 185,610 students from 89 regions of Russia, who competed in 71 areas — from psychology, linguistics and jurisprudence to robotics, metallurgy and quantum technologies. Novosibirsk Oblast entered the top 5 following the results of the VIII season: young people in the region received 112 “I am a professional” diplomas.
— The high activity of the region’s students and their outstanding results in the “I am a professional” Olympiad demonstrate that personnel for the future of Russia are being formed here. This season, students from the Novosibirsk Region have shown themselves in such areas as “Biotechnology”, “Bioengineering and bioinformatics”, “Biology” and others. We are proud of the achievements of the students from the Novosibirsk Region and are confident that their success will become an example for other regions, — said Andrey Betin, CEO of the presidential platform “Russia is a Country of Opportunities”, Rector of the Senezh Management Workshop.
This year, 827 students from NSU took part in the selection round, and 197 in the final. The top 5 most popular areas of participation among NSU students were Biology, Biotechnology, Bioengineering and Bioinformatics, Chemistry, and Mathematics. NSU students showed themselves best in such tracks as Biotechnology, Bioengineering and Bioinformatics, Biology, and Ecology. According to the results of the overall medal count, NSU students won three gold and three bronze medals:
Ivan Baksheev, track “Security of information systems and technologies of critical facilities”, 2nd year master’s degree student Faculty of Information Technology.
Bronze medalists
Nazim Mustafin, 2 bronze medals in the Chemistry and Biotechnology tracks, 3rd year specialist student of the Faculty of Natural Sciences;
Anna Skotareva, track “Biotechnology”, 3rd year bachelor’s degree at the Faculty of Natural Sciences.
NSU traditionally acted as the organizer of the Olympiad track – “Bioengineering and Bioinformatics”. 1231 students from Russian universities took part in the selection stage of the track.
Olympiad diploma winners will be able to complete internships at major companies and take advantage of benefits when entering the next level of education, and medalists will receive cash prizes of up to 300 thousand rubles.
— High results of participation in the Olympiad “I am a professional” are an indicator that the universities of the Novosibirsk region train competitive personnel. Year after year, students demonstrate an increasingly high level of training. In the VIII season, participants received 112 diplomas of the Olympiad “I am a professional”, and the best results were demonstrated by students of the Novosibirsk National Research State University, Novosibirsk State Technical University and Novosibirsk State Pedagogical University, — shared the head of the Olympiad “I am a professional” Valeria Kasamara.
The Olympiad “I am a professional” is being implemented within the framework of the federal project “Russia – the country of opportunities” of the national project “Youth and Children” with the support of the Ministry of Science and Higher Education of Russia.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Sudan, Palestine, South Sudan, Haiti, and Mali remain hotspots of highest concern, and Democratic Republic of the Congo has returned as a hunger hotspot to watch
ROME – A new joint UN report warns that people in five hunger hotspots around the world face extreme hunger and risk of starvation and death in the coming months unless there is urgent humanitarian action and a coordinated international effort to de-escalate conflict, stem displacement, and mount an urgent full-scale aid response.
The latest Hunger Hotspots report shows that Sudan, Palestine, South Sudan, Haiti and Mali are hotspots of highest concern, with communities already facing famine, at risk of famine or confronted with catastrophic levels of acute food insecurity due to intensifying or persisting conflict, economic shocks, and natural hazards. The devastating crises are being exacerbated by growing access constraints and critical funding shortfalls.
The semi-annual Hunger Hotspots report is an early-warning and predictive analysis of deteriorating food crises for the next five months. Developed and published with financial support from the European Union through the Global Network Against Food Crises (GNAFC), the latest edition projects a serious deterioration of acute food insecurity in 13 countries and territories – the world’s most critical hunger hotspots in the coming months.
In addition to hotspots of highest concern, Yemen, the Democratic Republic of the Congo, Myanmar and Nigeria are now hotspots of very high concern and require urgent attention to save lives and livelihoods. Other hotspots include Burkina Faso, Chad, Somalia, and Syria.
“This report makes it very clear: hunger today is not a distant threat – it is a daily emergency for millions,” FAO Director-General QU Dongyu said. “We must act now, and act together, to save lives and safeguard livelihoods. Protecting people’s farms and animals to ensure they can keep producing food where they are, even in the toughest and harshest conditions, is not just urgent – it is essential.”
“This report is a red alert. We know where hunger is rising and we know who is at risk,” said Cindy McCain, World Food Programme Executive Director. “We have the tools and experience to respond, but without funding and access, we cannot save lives. Urgent, sustained investment in food assistance and recovery support is crucial as the window to avert yet more devastating hunger is closing fast.”
Hotspots of highest concern
In Sudan, Famine was confirmed in 2024. Conditions are expected to persist due to the continuing conflict and ongoing displacement, particularly in the Greater Kordofan and Greater Darfur regions. Displacement is likely to increase further during the outlook period while humanitarian access remains restricted. The circumstances are driving the country towards the risk of partial economic collapse, with high inflation severely limiting food access. Around 24.6 million people were projected to face Crisis or worse (IPC Phase 3 or above) levels of acute food insecurity, including 637,000 people facing Catastrophe (IPC Phase 5) through May 2025.
In Palestine, the likelihood of famine in the Gaza Strip is growing as large-scale military operations hinder the ability to deliver vital food and non-food humanitarian assistance. In addition to the humanitarian crisis unfolding in the Gaza Strip, high food prices coupled with exhausted livelihoods and a commercial blockade will accelerate an economic collapse. The entire population in Gaza – 2.1 million people – is projected to face Crisis or worse (IPC Phase 3 or above) levels of acute food insecurity, with 470,000 projected to face Catastrophe (IPC Phase 5) through September 2025.
South Sudan faces compounding threats from political tensions, the risk of flooding, and economic challenges. Approximately 7.7 million people – or 57 percent of the population – are projected to face high levels of acute food insecurity (IPC Phase 3 or above) between April and July 2025, with 63,000 people projected to face Catastrophe (IPC Phase 5) levels of acute food insecurity. An IPC update released after the report’s finalization indicated Risk of Famine in two areas of the country and confirmed the bleak outlook.
In Haiti, record levels of gang violence and insecurity are displacing communities and crippling aid access. Over 8,400 internally displaced persons (IDPs) already facing Catastrophe (IPC Phase 5) levels of acute food insecurity in the Port-au-Prince metropolitan area by June 2025.
Meanwhile, in Mali, high grain prices and ongoing conflict are eroding the coping capacities of the most vulnerable households, particularly in conflict-affected areas. Around 2 600 people are at risk of Catastrophe (CH Phase 5) from June to August 2025 if assistance is not provided on time.
Additional hotspots and areas of improvement
In Myanmar, the impact of the recent major earthquake is likely to worsen the already dire food insecurity situation in the country, driven by escalating conflict, widespread displacement, severe access restrictions and high food prices.
The Democratic Republic of the Congo has been reintroduced to the hotspot list due to intensifying conflict.
In contrast, Ethiopia, Kenya, Lebanon, Lesotho, Malawi, Mozambique, Namibia, Niger, Zambia, and Zimbabwe have been removed from the Hunger Hotspots list. In East and Southern Africa, as well as in Niger, better climatic conditions for harvests and fewer weather extremes have eased food security pressures. Lebanon has also been delisted following reduced intensity of military operations. However, FAO and WFP warn that these gains remain fragile and could reverse quickly if shocks re-emerge.
A call for global solidarity
In multiple hotspots, aid delivery is significantly hampered by restricted humanitarian access due to insecurity, bureaucratic impediments, or physical isolation. At the same time, critical funding shortfalls are forcing reductions in food rations, limiting the reach of life-saving nutrition and agricultural interventions.
The Hunger Hotspots report highlights the importance of continued investments in early humanitarian action. Pre-emptive interventions save lives, reduce food gaps, and protect assets and livelihoods at a significantly lower cost than delayed humanitarian action.
Note to Editors The Hunger Hotspots report is part of a US and EU funded suite of analytical products produced under the Global Network Against Food Crises, to enhance and coordinate the generation and sharing of evidence-based information and analysis for preventing and addressing food crises.
This series also includes the recently published 2025 Global Report on Food Crises, which retroactively looks at the levels of acute food insecurity in 2024, in complement to the Hunger Hotspots which is a forward-looking early warning system that provides decision makers with information for planning and resource allocation.
About FAO
About WFP The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters, and the impact of climate change.
The Indian Space Research Organisation (ISRO) on Monday said it is working closely with Axiom Space to refresh time-sensitive experimental specimens, following the rescheduling of the Axiom-4 mission to the International Space Station (ISS) for June 19.
In a post on X, ISRO said: “@NASA, @Axiom_Space & @SpaceX are targeting no earlier than June 19 for the #Ax4 mission to the @Space_Station. Indian Principal Investigators & @isro are coordinating with @Axiom_Space to refresh time-sensitive experimental specimens. #Space #AxMission4 #ISRO #ISS.”
The Axiom-4 mission includes Indian Air Force Group Captain Shubhanshu Shukla, who will become the second Indian to travel to space after Rakesh Sharma’s 1984 mission.
Union Minister of State for Science and Technology Jitendra Singh confirmed the new launch date in a June 14 post on X, saying: “Launch date of the Axiom-4 mission carrying Indian astronaut Shubhanshu Shukla to the International Space Station is, as of now, rescheduled for June 19, 2025.”
He added that the technical issues which caused the initial delay had been resolved: “The SpaceX team has confirmed that all the issues that led to the earlier postponement of the launch have been duly addressed.”
The delay was first announced by SpaceX on June 11, when the company cited a need for additional time to repair a liquid oxygen (LOx) leak identified during post-static fire booster inspections. “Standing down from tomorrow’s Falcon 9 launch of Ax-4 to the @Space_Station to allow additional time for SpaceX teams to repair the LOx leak identified during post-static fire booster inspections. Once complete – and pending Range availability – we will share a new launch date” SpaceX said on X.
The Ax-4 mission is Axiom Space’s fourth private astronaut flight to the ISS. The Ax-4 crew includes astronauts from India, Poland, and Hungary. According to Axiom, this will be the first government-sponsored human spaceflight for the three nations since the 1980s.
The Indian Space Research Organisation (ISRO) on Monday said it is working closely with Axiom Space to refresh time-sensitive experimental specimens, following the rescheduling of the Axiom-4 mission to the International Space Station (ISS) for June 19.
In a post on X, ISRO said: “@NASA, @Axiom_Space & @SpaceX are targeting no earlier than June 19 for the #Ax4 mission to the @Space_Station. Indian Principal Investigators & @isro are coordinating with @Axiom_Space to refresh time-sensitive experimental specimens. #Space #AxMission4 #ISRO #ISS.”
The Axiom-4 mission includes Indian Air Force Group Captain Shubhanshu Shukla, who will become the second Indian to travel to space after Rakesh Sharma’s 1984 mission.
Union Minister of State for Science and Technology Jitendra Singh confirmed the new launch date in a June 14 post on X, saying: “Launch date of the Axiom-4 mission carrying Indian astronaut Shubhanshu Shukla to the International Space Station is, as of now, rescheduled for June 19, 2025.”
He added that the technical issues which caused the initial delay had been resolved: “The SpaceX team has confirmed that all the issues that led to the earlier postponement of the launch have been duly addressed.”
The delay was first announced by SpaceX on June 11, when the company cited a need for additional time to repair a liquid oxygen (LOx) leak identified during post-static fire booster inspections. “Standing down from tomorrow’s Falcon 9 launch of Ax-4 to the @Space_Station to allow additional time for SpaceX teams to repair the LOx leak identified during post-static fire booster inspections. Once complete – and pending Range availability – we will share a new launch date” SpaceX said on X.
The Ax-4 mission is Axiom Space’s fourth private astronaut flight to the ISS. The Ax-4 crew includes astronauts from India, Poland, and Hungary. According to Axiom, this will be the first government-sponsored human spaceflight for the three nations since the 1980s.
Prime Minister Narendra Modi was on Monday conferred with the “Grand Cross of the Order of Makarios III”, the highest civilian honour of the Republic of Cyprus. The award was presented by Cypriot President Nikos Christodoulides during the Prime Minister’s official visit to the country.
In his acceptance remarks, PM Modi expressed his gratitude to the President, the government, and the people of Cyprus. Accepting the honour on behalf of the 1.4 billion people of India, the Prime Minister said the recognition was a tribute to the enduring friendship between the two nations, founded on shared democratic values, mutual trust, and cooperation across diverse fields.
“This honour is not just for me, but for 1.4 billion Indians,” he said. “It reflects our civilisational ethos of Vasudhaiva Kutumbakam – the world is one family – which continues to guide India’s approach to global peace, progress and cooperation.”
PM Modi described the Grand Cross as a symbol of the deepening ties between India and Cyprus and a reaffirmation of the shared commitment to uphold peace, sovereignty, territorial integrity, and prosperity.
Instituted in 1981 by then President Spyros Kyprianou, the Decoration of the Grand Cross of the Order of Makarios III is one of the most prestigious awards conferred by the Cypriot state. It is granted under the powers of Article 47b of the Constitution of the Republic of Cyprus and is reserved for distinguished personalities who have contributed to strengthening bilateral relations and promoting global goodwill.
The honour has previously been awarded to several distinguished world leaders, including former Australian Prime Minister Gough Whitlam in March 1983, Italian Prime Minister Giulio Andreotti in April 1990, Austrian Chancellor Karl Nehammer in July 2022, Prime Minister of Luxembourg Xavier Bettel in March 2023, and Queen Máxima of the Netherlands earlier this year.
PM Modi’s visit to Cyprus comes at a time when both countries are seeking to deepen cooperation across diverse sectors, from economic engagement to cultural ties and innovation.
Prime Minister Narendra Modi was on Monday conferred with the “Grand Cross of the Order of Makarios III”, the highest civilian honour of the Republic of Cyprus. The award was presented by Cypriot President Nikos Christodoulides during the Prime Minister’s official visit to the country.
In his acceptance remarks, PM Modi expressed his gratitude to the President, the government, and the people of Cyprus. Accepting the honour on behalf of the 1.4 billion people of India, the Prime Minister said the recognition was a tribute to the enduring friendship between the two nations, founded on shared democratic values, mutual trust, and cooperation across diverse fields.
“This honour is not just for me, but for 1.4 billion Indians,” he said. “It reflects our civilisational ethos of Vasudhaiva Kutumbakam – the world is one family – which continues to guide India’s approach to global peace, progress and cooperation.”
PM Modi described the Grand Cross as a symbol of the deepening ties between India and Cyprus and a reaffirmation of the shared commitment to uphold peace, sovereignty, territorial integrity, and prosperity.
Instituted in 1981 by then President Spyros Kyprianou, the Decoration of the Grand Cross of the Order of Makarios III is one of the most prestigious awards conferred by the Cypriot state. It is granted under the powers of Article 47b of the Constitution of the Republic of Cyprus and is reserved for distinguished personalities who have contributed to strengthening bilateral relations and promoting global goodwill.
The honour has previously been awarded to several distinguished world leaders, including former Australian Prime Minister Gough Whitlam in March 1983, Italian Prime Minister Giulio Andreotti in April 1990, Austrian Chancellor Karl Nehammer in July 2022, Prime Minister of Luxembourg Xavier Bettel in March 2023, and Queen Máxima of the Netherlands earlier this year.
PM Modi’s visit to Cyprus comes at a time when both countries are seeking to deepen cooperation across diverse sectors, from economic engagement to cultural ties and innovation.
Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
This paper employs various empirical methods to test the Purchasing Power Parity (PPP) hypothesis in West and Central Africa, considering countries within the WAEMU, CEMAC, CFA, and ECOWAS currency zones and four possible numeraire currencies—U.S. dollar, euro, renminbi, and the CFA franc. Using panel and single-country unit-root, cointegration, error-correction techniques, our findings indicate that the numeraire currency matters for evidence in favor of PPP. Results show slightly stronger evidence when the euro is used as the reference compared to other numeraire currencies, although results vary across different methods. Evidence for PPP is also stronger across the currency zones after the 1994 devaluation of the CFA franc, when evidence for PPP using the renminbi as reference is also stronger, suggesting an increasing importance of the renminbi for the economies in West and Central Africa. The paper documents significant differences in price dynamics for the CEMAC and the WAEMU, the two components of the CFA zone, with stronger evidence for PPP found for the WAEMU and reversal speed to PPP faster than the 2-3 years found in the literature. Results also indicate that real exchange rates of the currency zones revert to PPP mainly through adjustments of foreign prices expressed in domestic currencies—which may result from changes in nominal exchange rates of the reference currencies or foreign prices—and less so via adjustments in domestic prices.
Source: Traditional Unionist Voice – Northern Ireland
Statement by TUV leader and North Antrim MP:-
“There is an urgent need for the Government to address, rather than run away from, the unfettered access of Eastern Europeans through the Republic to Northern Ireland.
“Though we are supposed to have seen an end to ‘freedom of movement’ upon leaving the EU, the reality is that it has effectively continued via the Republic, made easy by HMG’s refusal to exercise any control of the border.
“I will continue to press the Government on these issues. HMG talks incessantly about tackling the small boats, but makes no pretence of addressing this other, and even easier, access point.
“The Protocol has the added potential of making things even worse, because, as the Rwanda case demonstrated, we can’t even apply in NI protections passed by the U.K. parliament.”