The United Nations has rejected a proposed aid plan for Gaza, citing concerns that it violates its core principles. The plan, presented by Israel's COGAT defense body, would centralize aid distribution through logistics hubs run by private security companies, using facial recognition to identify Palestinians and sending SMS alerts when aid is available. Critics argue this will displace people who are already struggling to access basic supplies due to the devastating effects of fighting in Gaza, which has left over 90% of the population displaced.
https://www.gulftoday.ae/news/2025/05/05/israel-plans-to-capture-all-of-gaza-under-new-planThe United Nations Security Council (UNSC) will hold a "closed consultations" meeting on May 5 to discuss tensions between India and Pakistan following the April 22 Pahalgam terror attack. The request for an emergency meeting was made by Pakistan, which is currently a non-permanent member of the UNSC, with Greece presiding over the council in May. The meeting aims to diffuse tension and provide a platform for views to be expressed.
https://www.livemint.com/news/india/indiapak-tensions-unsc-to-hold-closed-consultations-on-situation-today-after-islamabads-request-11746414427301.htmlAustralia's center-left government, led by Prime Minister Albanese, has won a majority in parliament with its strongest mandate since World War II, giving it a strong chance to implement economic reforms. The government faces pressure from economists and S&P Global Ratings, which warned that a larger structural deficit could put Australia's AAA sovereign rating at risk. China's decline is also affecting Australia's economy, as the country's massive demand for minerals starts to unravel.
https://www.japantimes.co.jp/news/2025/05/05/asia-pacific/politics/albanese-landslide-australia-economy/The European Union may significantly increase its military aid to Ukraine if US President Donald Trump fails to convince Russian leader Vladimir Putin to make peace, according to EU Commissioner for Defense and Space Andrew Kubilius. The EU has already allocated about 40 billion euros per year for military aid to Ukraine, but could potentially double this amount by purchasing modern weapons in Ukraine itself, increasing the total value of support to 80 billion euros.
https://www.fakti.bg/en/world/968860-european-commission-eu-will-significantly-increase-its-aid-to-ukraine-if-trump-does-not-convince-putin-to-make-peaceThe European Union aims to create a new financial market for nature credits, building on the success of carbon credits, which have generated almost $1 trillion in revenue since their introduction two decades ago. EU Environment Commissioner Jessika Roswall proposed this plan at a conference in Berlin, aiming to replicate the financial success of carbon credits by allowing businesses to pay for initiatives that restore or protect nature. The goal is to support global efforts to meet the 30% target for protecting lands and oceans by 2030, with an annual funding commitment of $200 billion. However, experts warn that pricing nature's value is more complex than pricing carbon emissions due to the difficulty in measuring biodiversity and its diverse range of species.
https://www.geo.tv/latest/603278-pricing-birdsong-eu-mulls-nature-credits-to-help-biodiversityThe recent meeting of the ASEAN+3 forum was led by Malaysian Finance Minister II Amir Hamzah Azizan and Bank Negara Malaysia Governor Abdul Rasheed Ghaffour, alongside Chinese Finance Minister Lan Fo'an and People's Bank of China Governor Pan Gongsheng. The gathering aimed to boost regional cooperation amidst global uncertainty, with representatives from ASEAN member nations, Japan, Korea, and China in attendance. After the meeting, Philippines and Japan announced plans to host the 29th AFMGM+3 Meeting in Samarkand, Uzbekistan, in 2026, marking the end of Malaysia and China's term as co-chairs of ASEAN+3.
https://en.antaranews.com/news/354085/afmgm-3-stresses-commitment-to-stability-regional-integration?utm_source=antaranews&utm_medium=desktop&utm_campaign=popular_rightThe US and Philippines conducted joint military drills, Balikatan, from April 21 to May 9, with about 14,000 participants. The exercises focused on defending Philippine sovereignty in the South China Sea against China's growing aggression. Mock battles included retaking an island from hostile forces, with assurances from Defense Secretary Pete Hegseth that the US would defend the Philippines if attacked. Japanese and British forces observed the drills, showcasing interoperability among partner nations. Analyst Derek Grossman notes that the Trump administration is trying to pressure China through support for the Philippines, but its commitment's sustainability is unclear due to a perceived decrease in hawkishness towards China.
https://www.airforcetimes.com/news/your-military/2025/05/05/wwii-ship-accidentally-sinks-before-us-philippine-ship-sinking-drill/Malaysia's Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz revealed that safeguarding American technology from falling into the wrong hands is a key concern in US-Malaysia trade negotiations. The US wants to ensure its sensitive technology isn't misused or diverted to other countries with export restrictions, such as certain chips entering Malaysia. The US also seeks investments from Malaysia, particularly in industries they believe need support, and aims for zero tariffs or significant reduction.
https://www.malaymail.com/news/malaysia/2025/05/05/us-wanted-tech-safeguards-from-unwanted-hands-in-malaysia-tariff-talks-reveals-tengku-zafrul/175679Israel's cabinet approved a plan for humanitarian aid distribution in Gaza to prevent Hamas from seizing supplies and undermining its governance capabilities. The country has intensified aerial bombardments and ground operations in the Gaza Strip since March 18, aiming to pressure Hamas into releasing hostages taken during an October 2023 attack that killed 1,218 Israelis, mostly civilians. Israel's military offensive has resulted in at least 52,535 civilian deaths in Gaza, according to the territory's health ministry.
https://www.tbsnews.net/worldbiz/middle-east/israel-cabinet-approves-plan-including-gaza-conquest-official-1134051