Ukrainian President Volodymyr Zelensky discussed various issues with Swiss President Keller-Sutter, including a potential ceasefire and humanitarian aid for Ukraine. He also briefed on recent talks in Istanbul and emphasized unity among partners to achieve a full ceasefire. Zelensky expressed gratitude to Switzerland for its support, particularly in the form of humanitarian assistance.
https://www.ukrinform.net/rubric-polytics/3994184-ukrainian-swiss-presidents-discuss-need-to-increase-pressure-on-russia.htmlThe Association of Southeast Asian Nations (ASEAN) has adopted a harmonized framework for carbon trading, which is expected to attract investors in the region. This move comes as Singapore's sovereign wealth fund GIC and Temasek have identified opportunities for adaptation in the face of climate change. Despite geopolitical and economic uncertainty, ASEAN's commitment to sustainability remains intact. The development follows recent announcements from companies such as Sembcorp, which has won analysts' calls with its renewable energy projects. Verizon has also received approval for its deal to acquire Frontier after making changes to its diversity, equity, and inclusion (DEI) practices.
https://www.businesstimes.com.sg/esg/chinas-path-deeper-carbon-cuts-hinges-next-gen-techThe International Monetary Fund (IMF) has downgraded global growth forecasts due to heightened trade tensions and elevated policy uncertainty. The US is expected to experience significant deceleration in growth, from 2.8 per cent in 2024 to 1.6 per cent in 2025, while the European Union's GDP growth remains unchanged at 1.0 per cent. India's growth forecast has been revised downward to 6.3 per cent, driven by strong performance in the country. The IMF warns that a tariff shock could hit vulnerable developing countries hard, exacerbating debt challenges and inflation risks, particularly in Africa, South Asia, and Western Asia.
https://www.thenews.com.pk/print/1312251-un-projects-pakistan-s-economy-to-grow-by-2-3pcChina has reaffirmed its "enduring and time-tested friendship" with Pakistan, describing the relationship as one of "ironclad brothers". China's support for Pakistan came during a recent escalation with India, where Pakistan launched a large-scale retaliatory military action called "Operation Bunyan-um-Marsoos", targeting Indian military targets. The strikes were in response to India's aggression across the Line of Control and within Pakistan's territory. Pakistan downed six Indian fighter jets, including three Rafale, and dozens of drones. A ceasefire agreement brokered by the US ended the war on May 10, after at least 53 individuals, including 13 military personnel and 40 civilians, were martyred in Indian strikes.
https://www.thenews.com.pk/latest/1312796-dar-to-visit-china-tomorrow-amid-efforts-to-sustain-pakistan-india-ceasefireItalian Prime Minister Giorgia Meloni's meeting with Ukrainian President Volodymyr Zelenskyy and US officials was a significant development in the ongoing diplomatic efforts to reach a ceasefire in Ukraine. The meeting came after tensions escalated when French President Emmanuel Macron accused Meloni of spreading false information about her absence from a previous coordination meeting. Political analyst Lorenzo Castellani notes that Meloni's priority is to maintain close alignment with the US, and she aims to push for a broader diplomatic effort involving the US and main European allies. The meeting in Rome marked a shift in Meloni's strategy, as she seeks to leverage Italy's role to facilitate a compromise between Europe and the US on tariffs and other issues related to the conflict.
https://apnews.com/article/italy-eu-us-trump-vance-von-der-leyen-europe-trade-tariffs-ukraine-war-russia-pope-leo-b56131694579f4e37f5b7115ca06678dThe US Congress may tighten anti-Russian sanctions if talks to peacefully resolve the conflict in Ukraine do not make progress, according to Secretary of State Marco Rubio. The US administration has warned Russia about this possibility, with Rubio stating that he informed the Russian side six or seven weeks ago that efforts in Congress are underway.
https://www.fakti.bg/en/world/971834-us-to-slap-500-import-tariffs-on-countries-buying-russian-oil-gas-and-uranium-if-moscow-doesn-t-move-forward-with-talkSouth Korea's government has announced additional support for exporters amid ongoing US tariff concerns. The allocated budget of 84.7 billion won ($60.4 million) will benefit around 2,000 small- and medium-sized export companies through the Tariff Response Voucher Program. Launched last month, this expanded program subsidizes costs such as damage analysis, relocation strategies, and market discovery services, in addition to domestic shipping costs.
https://koreajoongangdaily.joins.com/news/2025-05-18/business/industry/Korean-govt-increases-support-for-export-companies-ahead-of-US-tariff-deadline/2309883US President Donald Trump has hinted at resetting tariff rates for many countries in two weeks, according to a report by Mainichi Japan. During a recent business roundtable in Doha, Qatar, Trump made the statement, which could potentially impact trade relations with various nations, including those in the Middle East and beyond.
https://mainichi.jp/english/articles/20250517/p2g/00m/0in/018000cUS President Donald Trump will impose tariffs at previously threatened rates on trading partners that do not negotiate in "good faith", according to Treasury official Scott Bessent. This comes as the US administration focuses on its 18 most important trading relationships, with Mr Trump having recently lowered tariff rates on imported goods to 10% for 90 days to give negotiators time to reach deals with other countries.
https://www.thenationalnews.com/news/us/2025/05/18/trump-will-enforce-tariffs-if-countries-refuse-good-faith-negotiations-says-bessent/