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Negotiations on a landmark global agreement on handling future pandemics came to a close on Friday without finalising a deal, though countries voiced the desire to keep pushing for an accord.Scarred by the devastation caused by the coronavirus (Covid-19) – which killed millions of people, shredded economies and crippled health systems – countries have spent two years trying to hammer out binding commitments on pandemic prevention, preparedness and response.However, the talks gathered momentum only in the last few weeks, as the fast-approaching deadline set for before next week’s start of the World Health Organisation (WHO)’s annual meeting of its 194 member states loomed.“This is not a failure,” WHO chief Tedros Adhanom Ghebreyesus said after the talks ended at the UN health agency’s headquarters in Geneva.He urged countries to see this as a “good opportunity to re-energise, to recalibrate and be even inspired and have even more commitment...to get where we would like to be”.“There should not be any regrets, because you have tried your best,” he said.The mandate of the Intergovernmental Negotiating Body (INB) steering the talks expires at next week’s World Health Assembly.The INB must now report back to the Assembly on progress – and ask what ministers want them to do next.“We have come to the end of a roller-coaster ride,” INB co-chair Roland Driece said as he closed the talks. “We are not where we hoped we would be when we started this process but...we should finish this, for the sake of humanity.”“We truly hope that the World Health Assembly next week...will take the right decisions to take this process forward...and that we will have a pandemic agreement – because we need it,” he said.Amid arm-twisting, horse-trading and 3am finishes in recent weeks, the talks had made progress but they could not overcome the remaining obstacles by Friday's deadline.“It’s clearly a pause. Most member states want to carry on and lock in the gains,” an Asian diplomat in the talks told AFP, speaking on condition of anonymity. “We’re not yet there with the text we have on the table. People need time to adjust their positions. The big question is, what will it take for the north and the south to get to convergence? It needs time.”The talks were held behind closed doors at the WHO headquarters in Geneva, until the closing session.The main disputes revolved around issues of access and equity: access to pathogens detected within countries, and to pandemic-fighting products such as vaccines derived from that knowledge.Other tricky topics were sustainable financing, pathogen surveillance, supply chains, and the equitable distribution of not only tests, treatments and jabs but also the means to produce them.“The best thing is to have a good, inclusive text. Whether that is now or later doesn’t matter. But were we able to reach a good text today? No,” an African negotiator in the talks told AFP. “We want to continue the process. We really want this text.”US negotiator Pamela Hamamoto said: “I’m glad that we have the draft text to show for the work that we have done together.”The rolling draft agreement was not made public, but a 32-page version as it stood on Thursday, seen by AFP, showed that large sections had been approved, but a number had not.“I think they will present to the assembly the skeleton of the instrument: there is agreement on the principles and structure,” Jaume Vidal, senior policy adviser with Health Action International, told AFP before the talks ended.The assembly could then possibly give instructions for the process to carry on later in the year.Ellen ‘t Hoen, a lawyer with the Medicines Law and Policy non-governmental organisation (NGO), said: “Perhaps the ambition of doing this in two years was a bridge too far, the fastest-ever negotiated UN treaty.”

South Korean, Chinese and Japanese leaders will hold their first trilateral summit in nearly five years next week in Seoul, South Korea's presidential office said yesterday.President Yoon Suk Yeol will meet Chinese Premier Li Qiang and Japanese Prime Minister Fumio Kishida in the South Korean capital Monday, Seoul's deputy national security director Kim Tae-hyo told reporters.Yoon will hold separate bilateral talks with Li and Kishida on Sunday, Kim added.The three leaders are also scheduled to attend a business summit and "encourage business people from the three countries", he said.The upcoming summit "will serve as a turning point for fully restoring and normalising the trilateral co-operation system" between the three nations, Kim said.The last time leaders of the three nations met was in 2019, in part due to the Covid-19 pandemic but also because of diplomatic and historical disputes between South Korea and former colonial ruler Japan.Legal disputes over Japan's 1910-45 rule over the Korean peninsula persist between the two countries.But with the increasing threat posed by nuclear-armed Pyongyang, South Korea's Yoon has moved to bury the historical hatchet with Japan, while strengthening ties with long-standing ally Washington.In August last year, Seoul, Tokyo and Washington announced a "new chapter" of close three-way security co-operation after a historic summit at Camp David in the US.At the time, Beijing lodged complaints over a statement released at the summit, in which the three allies criticised China's "aggressive behaviour" in the South China Sea.Yoon last year said tensions over Taiwan were due to "attempts to change the status quo by force".Yesterday's announcement of the new trilateral summit came a day after Beijing reportedly summoned South Korean and Japanese diplomats to discuss "issues about Taiwan".China condemned the attendance of a South Korean lawmaker and Seoul's representative to Taipei at Taiwanese President Lai Ching-te's inauguration on Monday, according to Seoul's Yonhap news agency.Seoul's foreign ministry said yesterday there is "no change" in South Korea's stance of "respecting the One China policy"."Our government is also communicating with China on the Taiwan issue, and (we) think China is well aware of our government's position," Lim Soo-suk, a foreign ministry spokesperson, told reporters.China is South Korea's biggest trade partner, but it remains North Korea's most important economic benefactor and diplomatic ally.

Inter Milan entered an uncertain new era Ben Doak after US fund Oaktree took control of the Serie A champions following outgoing owners Suning defaulting on a debt worth hundreds of millions of euros. Oaktree announced they had “assumed control” of Inter after the non-repayment of a “three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately 395mn euros ($428mn)”.Chinese conglomerate Suning and president Steven Zhang have relinquished control of Inter to Oaktree three days after the team were officially crowned Italian champions for the 20th time. Suning borrowed 275mn euros at over 12 percent interest three years ago to pay staff and players as the Covid-19 pandemic ravaged the finances of clubs across Europe, putting up their controlling stake in the club as collateral.Inter have ended up in the hands of Oaktree in a manner similar to the way another US fund, Elliott Management, took control of their local rivals Milan in 2018. Elliott became Milan’s owners when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from the late Silvio Berlusconi’s Fininvest the previous year.Inter became a powerful force at home and abroad after Suning acquired around 68 percent of the club in 2016, with seven trophies including two Serie A titles and two European finals. Simone Inzaghi’s team cruised to this year’s championship, winning the Scudetto with five matches remaining by beating AC Milan in a thrilling local derby.Oaktree, which manages $192bn in assets, said they are “committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the club is positioned for success on and off the pitch”.Inter’s sporting and corporate CEOs Giuseppe Marotta and Alessandro Antonello were then pictured as all smiles at a meeting with two of Oaktrees’s managing directors, sending a clear message that no sweeping changes are coming in the immediate future. However Oaktree also suggested a period of belt-tightening might be on the way, saying they would work towards Inter’s “long-term prosperity” but “with an initial focus on operational and financial stability”.Inter posted losses of 85 million euros in the 2022/23 season, following even heavier losses of 140mn euros and 245.6mn euros in the previous two seasons as stadiums were partially or fully closed due to the pandemic. Talk of stability will inevitably lead to speculation over the future of some of Inter’s star names, including captain and this season’s Serie A top scorer Lautaro Martinez.Zhang had been widely reported as negotiating a further 430mn euro loan with another US fund, Pimco, to pay off Oaktree and complete extensions not just for Martinez but also for Italy midfielder Nicolo Barella and Inzaghi.But that deal never materialised and Zhang, who hasn’t been to Italy over a year and lost a court case with China Construction Bank over personal debts of 320mn euros, quietly ended his six-year presidency after blasting Oaktree on Saturday for “jeopardising” Inter’s financial stability.Argentina forward Martinez, whose current deal expires in 2026, told the Gazzetta Dello Sport on Tuesday he was expecting and wanted to sign a contract extension next week but admitted “the situation with the club could delay everything”.“We’re talking to (sporting CEO Giuseppe) Marotta and (sporting director Piero) Ausilio, but it depends on the owners,” said Martinez. “Let’s wait and see, I don’t know what’s going to happen between now and next week but we don’t have any problems.”Inter finish their season at Verona on Sunday night, triumphant on the pitch but in an unpredictable position off it after haemorrhaging money while racking up the trophies.

Novak Djokovic celebrated his 37th birthday on Wednesday with a much-needed win as he gears up for his French Open title defence, progressing to the Geneva quarter-finals. The world number one downed Germany’s Yannick Hanfmann 6-3, 6-3 in the second round at the Parc des Eaux-Vives grounds. With Wednesday’s win, the Serbian became just the third player in the Open Era to win 1,100 tour-level matches. Making his first appearance in Geneva this week, the 98-time tour-level titlist joins Jimmy Connors and Roger Federer as the only players to reach 1,100 tour-level match wins in the Open Era. Djokovic took a wild card to play in Geneva in a bid to rescue an alarming dip in form ahead of next week’s French Open, the second Grand Slam of the year. The crowd sang “Happy Birthday” to Djokovic as a cake with candles was brought out onto the court following his win. He lifted the cake and showed it off to the crowd, having a nibble before offering some to the ball boys and girls. “That really touched me,” Djokovic said while thanking the crowd in his on-court interview. “I’m very happy to win on this special day. The key was the birthday,” he said. “The birthday probably wouldn’t be the same if I didn’t win the match, but it’s nice to be here for the first time at this tournament, with my family coming here to support as well. I grew up with my aunt, uncle and two cousins for most of my life. We don’t get the chance to see each other that much lately, so it’s really nice. I’m getting some really quality time on the court, but also off the court,” he added. Thiem suffers qualifiers loss Two-time finalist Dominic Thiem said a sad farewell to Roland Garros after the soon-to-retire Austrian was knocked out in the second round of qualifying on Wednesday. Thiem, the 2018 and 2019 finalist, went down 6-2, 7-5 to Finland’s Otto Virtanen and was then presented with a commemorative trophy by tournament director Amelie Mauresmo. Thiem was visibly moved as he spoke fondly of his connection with the French clay. “Thank you for this marvellous goodbye,” the Austrian said as he received his trophy. “I have had so many good results, good memories and good moments on these courts, I’ll never forget it,” he said. Thiem has failed to go past the first round of the main draw in Paris since his 2019 run to the final and has dropped from World No.3 to 131 in the rankings. His career has been blighted by a niggling wrist injury and since his crowning moment in 2020 when he beat Alexander Zverev in the Covid-affected US Open final his career has nose-dived. The 30-year-old has already announced plans to retire from tennis at the end of the 2024 season.

Qatar Executive (QE), the corporate jet subsidiary of Qatar Airways Group, is adding more business jets to its fleet in view of demand from all over the world, noted Group CEO Badr Mohamed al-Meer.“At Qatar Executive, we already have a fleet of 15 G650s. Qatar Executive expects an additional eight G700 to be delivered in the near future, with two aircraft already received and two more set to arrive within weeks,” al-Meer said.He said the demand for private jets has been increasing since the Covid-19 pandemic.“People are preparing to fly more on private jets... and once they experienced what private aviation is all about, I think they got addicted to flying on our fleet.“The demand (for private jets) is from all over the world. We are the biggest operator of Gulfstream and we get requests from international customers. And this is why a big portion of our aircraft are based in Europe, US or in Asia. Basically, we are catering to demand from all over the world,” al-Meer revealed.He said the new G700 fleet will enter full commercial service in June, and QE is already taking advance expressions of interest from clients to charter the new aircraft.The G700 represents the future of private air travel, offering a superior flying experience with unrivalled design, technology, comfort and style.The aircraft offers an exceptionally spacious passenger cabin consisting of four individual living areas including a dedicated private rear stateroom with a permanent fixed bed.The bespoke cabins have been designed and meticulously crafted to meet the standards of Qatar Executive’s most discerning customers. The passenger experience has been augmented to include a revolutionary lighting system, the industry’s lowest cabin pressure altitude and natural lighting through 20 windows.The G700 also prioritises passengers’ comfort with a whisper-quiet cabin, along with 100% fresh air replenished every two to three minutes, and an ionising system for the cabin air, providing the highest air quality possible to date in a business jet. This innovation ensures passengers arrive more refreshed than with any other aircraft type.Asked about potential future orders for business jets, al-Meer noted: “We see a big demand for private business jets from all over the world. Our entire fleet is busy...our aircraft are flying. I am confident within two weeks, our new G700 will start flying. We already have long list of requests from customers to be the first to fly it.”The Qatar Airways Group CEO said: “Among major airlines, we have the highest load factor. It varies between 85 and 88%. Some of our aircraft have a load factor of up to 98%.“To meet additional demand, we need more aircraft – so more deliveries are required. The demand in the industry has picked up. It is very high. Unfortunately, for our passengers...our customers, we are not able to meet their demand because of the shortage of aircraft in the market.”

Qatar Airways has been experiencing “very high” load factor across its network despite the “unfortunate conflict” in the Middle East, says the airline's Group CEO Badr Mohamed al-Meer.“Our industry has proven to be resilient. Despite the unfortunate conflict in the Middle East – our numbers continue to grow, when it comes to passengers,” al-Meer said at a session at the recently concluded Qatar Economic Forum.He said the surge in passenger numbers has been reflected on traffic through the Hamad International Airport (HIA).“At HIA, we recorded 30% increase in passengers last year. This year, so far, from January 1 to May 14, we have seen a 27% increase in the number of passengers.”Al-Meer said: “Our load factor is the highest among major airlines. For example, we see our flights to the US having a 95-96% load factor, on average. Our flights to Australia, India and basically to our entire network, see load factor averaging between 85% and 88%, which is very high. This proves, people want to travel.”Asked whether the conflict in the Middle East or other geopolitical issues have an impact on the airline business, al-Meer said: “We have not seen any significant impact.”At the same panel session, RwandAir CEO Yvonne Manzi Makolo noted: “Demand has really grown, driven by people’s strong desire to travel. There is no major difference between the peak and slack season now. Demand has really grown, driven by people’s strong desire to travel.“Although my continent (Africa) also faces geopolitical issues, we have not seen any major impact. The demand still remains strong despite geo-politics.”She said airlines around the world have rebounded, post-Covid. Every airline now sees huge demand for seats.“There are lots of opportunities we need to tap into right now, particularly in Africa. Delaying that process is a big challenge,” she noted.Al-Meer also said all airlines are currently facing the “same problem” because of late deliveries of their orders.“We are one of the major airlines, which is trying our best to assess both Boeing and Airbus and trying to find solutions for them to make sure they deliver based on the timelines they have given us.“I know they are under so much pressure when it comes to the supply chain market...with their suppliers. But they need to put more pressure on those suppliers to make sure that airlines stop bleeding.”Al-Meer added: “The demand in the industry has picked up. It is very high. Unfortunately, for our passengers...our customers, we are not able to meet their demand because of the shortage of aircraft in the market.”

Atalanta have a date with history and Bayer Leverkusen tomorrow when the Italians aim to become the first team to beat the new German champions this season and win their first ever European final. Gian Piero Gasperini’s side have in the Europa League final in Dublin another shot at winning a first trophy in 61 years after losing the Italian Cup final against Juventus last week.The traditionally small club from Bergamo travel to Ireland in high spirits after securing a spot in next season’s revamped Champions League. Star forwards Charles De Ketelaere and Gianluca Scamacca secured a 2-0 win at Lecce on Saturday which guaranteed Atalanta at least fifth spot in Serie A and led to a hero’s welcome from supporters after they returned from Italy’s extreme south.Hundreds of fans waited under torrential rain for their team at the Zingonia training centre outside Bergamo, greeting them with flares, flags and fireworks, loudly expressing their appreciation at another brilliant season under Gasperini which may yet become the best in the club’s 117-year history.“Qualifying for the Champions League is best we can achieve at Atalanta, it’s not like we can aim to win Serie A,” Gasperini told reporters on Saturday. “We were a bit tired in the final with Juventus... between now and Wednesday we need to make sure that we’re the very best version our ourselves.”Atalanta will be missing key midfielder Marten De Roon to a hamstring knock picked up during the Italian Cup final, an injury which Gasperini called the “real loss” of that evening.Gasperini can however count on the brilliant form of Scamacca and De Ketelaere, who will start tomorrow, and potentially the return of defender Sead Kolasinac as the 66-year-old tries to win his first final in his eight-year reign in Bergamo after losing his previous three. Belgium forward De Ketelaere has been a revelation since being loaned to Atalanta from AC Milan with a 24mn euro option to buy last summer, scoring 14 goals and setting up eight more as he slotted perfectly into Gasperini’s attack-minded set-up.“I don’t know if I’ll be in Bergamo next year. I just concentrate on my football and we’ll see what happens,” said De Ketelaere on Saturday. “Gasperini’s style of play gives me confidence. I’m disappointed that I didn’t do at Milan what I’ve done with Atalanta, but I’ve had a great season here.”A provincial club playing in the shadow of the Milanese giants down the road, Atalanta have reached new heights, reaching the Champions League four times, since Gasperini took over. Atalanta have managed to overtake traditionally bigger clubs like Fiorentina and Lazio while maintaining close ties with their local community and are one of the few Serie A teams to own their stadium, whose reshaping into a modern arena should be complete for the start of next season.And their run through the Europa League knockouts has taken them past Sporting Lisbon, Liverpool and Marseille, all more storied teams with vastly bigger fan bases and at least one European honour in their trophy cabinet.Atalanta have already experienced their two greatest ever nights against Liverpool and Marseille as their run to the 2020 Champions League quarter-finals came at the height of the Covid-19 pandemic which devastated Bergamo.They might start as underdogs in Dublin against another giant-killer in Leverkusen but have almost nothing to lose after going further than anyone ever expected.

The Paris Paralympics are expected to give the movement the biggest boost since the mould-breaking 2012 London Games - and organisers hope they will help to move the rights of disabled people to the top of the list of global priorities.International Paralympic Committee (IPC) president Andrew Parsons believes the Games, which follow the Olympics and open in 100 days’ time on August 28, “will have a big impact on how people with disability are perceived around the world”.“This is one of the key expectations we have around Paris 2024; we believe that we need people with disability to be put back on the global agenda,” Parsons told AFP in an interview. He says disability has fallen behind issues such as gender identity in recent years.“We do believe people with disability have been left behind. There is very little debate about persons with disability.”The Covid pandemic exacerbated the situation. “In the pandemic, they were really affected. Some of the health systems, even in big nations, were put to the test and they have failed people with disability,” Parsons said. After the Covid-blighted 2020 Tokyo Paralympics and the 2022 Winter Paralympics in Beijing that largely played out in empty venues, Paris represents a return to normality - and crowds.“We’ll have spectators back, and this is a huge difference from Tokyo and Beijing,” Parsons, a Brazilian, said. “There is a Paris effect, to be close to iconic landmarks, to have five-a-side football at the Eiffel Tower or taekwondo at the Grand Palais. The images that people will see around the world will be fantastic.”The IPC is confident the TV audience for Paris will surpass the 4.1 billion who watched the Tokyo Paralympics, helped by kinder times for viewers in Europe and the Americas.While Parsons admits London 2012, with its full stadiums and global stars like Oscar Pistorius, “is still the benchmark for Paralympic sport”, he is confident that the level of competition has increased in the 12 years since then.“The sport that we have to show to the world is of a higher level, the movement has grown a lot,” he said. “We have more interest in Paralympic sport around the world,” he maintains.“When you see a sport like wheelchair basketball, they are playing faster now, the game is becoming more and more physical.“With five-a-side football, it is not just Brazil and Argentina, you see other teams like Morocco that can surprise the big teams.”Ticket campaignParis organisers launched an advertising campaign on Monday to boost sluggish ticket sales for the event, with only 300,000 purchased by the public so far.Another 600,000 have been taken by French public sector organisations and the Olympic and Paralympic committees, according to official figures. Parsons though maintains the figures are “very close to where they were in London 2012 at this point”.“In London, 1.2mn tickets were sold in the final two months and in Rio we sold two million tickets in eight weeks, so we know that we will sell more tickets closer to the Olympics and during the Olympics,” he said. The inspirational message of the Paralympics - that athletes with disability can also achieve remarkable things - is what sets it apart from the Olympics.“We are a sporting movement, but we’re also a movement for change. So the more people we can attract to the Paralympic movement, they will find the sport amazing but at the same time they are attending an event that aims to change perceptions,” Parsons said.“We want to change the world -and you can only change the world if you change perceptions.”Just don’t expect the Games to leave a lasting legacy on the Paris Metro system, which is notoriously inaccessible to wheelchair users.“We do understand the frustration with the Metro,” Parsons said. “We all wanted the Metro to be more accessible as a result of the Paralympics but we understand the issues around the Metro.”One major hindrance is a French law that if one station is modified to make it accessible to disabled users, then all the stations on the line must follow suit. “In Rio in 2016, a few stations linked to the Games were made accessible, kind of like hubs. That cannot be done in Paris.”To partly compensate, a fleet of one thousand specially adapted taxis will be in operation, along with Paris’ public buses, which descend to kerb level to allow wheelchair users to board easily.

Growth in the Middle East and North Africa (Mena) region is underwhelming, the World Bank finds in a new report, but there is a promising underlying picture in some nations – oil importing and exporting alikeIt is always challenging to describe economic developments and trends across a large region of many nations, featuring social and economic diversity, and the Middle East and North Africa (Mena) is no exception. It spans a large geography, from Morocco to Iraq and the Gulf states. The region is the subject of a new report by the World Bank.A significant difference in terms of economic profile has always been between oil exporting nations, mostly in the Arabian Gulf region, and those that are importing. Yet the World Bank notes that growth, and projected growth, is no longer diverging significantly between the two. It projects annual growth of 2.8% for oil exporters, and 2.5% for other nations. The report notes that these figures are lower than the rest of the world, but they are reasonably healthy figures considering the higher interest rate regime and the conflict in the region.In the Mena region some non oil-based economies, such as Morocco and Egypt, have a strengthening enterprise sector. Egypt has been affected by inflation and a depreciating currency in recent years, but has received investment from the Gulf Co-operation Council, the European Union and the IMF, which has helped stabilise the economy and create conditions for growth. There is an enterprising private sector. It is right that the GCC should help Egypt, as it helps to spread the benefits of oil wealth and generate regional growth, helping all economies.High oil revenues are a mixed blessing. They make it easier to fund the public sector and avoid a debt crisis, but harder to create and sustain a diverse and balanced productive economy.The World Bank is fiscally conservative in culture, and critiques the rising trend in debt-to-GDP ratios in the region. This is to be expected, but it can be the case that, in oil-exporting countries where the state is a major economic player, sometimes it is prudent for the state to borrow precisely in order to help boost and develop the private sector, creating a more balanced economy. This has to be balanced against the phenomenon of the ‘crowding out’ of private sector investment by high public sector spending, which the World Bank report refers to. Nonetheless, Gulf countries have succeeded in reducing debt levels.High debt comes with costs and related challenges. As it rises, so do interest payments as a proportion of public expenditure. The World Bank noted that debt levels had been rising in the region even before the pandemic. Several countries have struggled to reduce the debt-to-GDP ratio, for a variety of reasons.The hope that the debt-to-GDP ratio could be reduced by economic growth or inflation or a combination, has proved to be a ‘mirage’ for non-oil exporting countries, the World Bank concludes. In practice, episodes of higher growth or higher inflation over the past decade have coincided with faster debt accumulation. For every additional percentage point decrease in the debt-to-GDP ratio attributable to real GDP growth, almost half is offset by increasing nominal debt stocks.Looming over the Middle East region has been the threat of escalating conflict. The Israel-Gaza conflict has had a devastating impact on Gaza, with GDP a huge 86% lower than before October 7, when the recent escalation began between Hamas and Israeli forces. There has also been conflict between Israel and Iran, and while hostilities have been curbed in the second half of April after earlier exchanges of fire there is an ever-present fear of escalation and contagion.The report made reference to a proxy measure of uncertainty, which is the level of disagreement among economic forecasters. Dispersion of forecasts generally reached a high point in 2020, at the height of the Covid-19 pandemic, before diminishing since. In 2024 there is more dispersion of forecasts in the Mena region than the rest of the world, which is to be expected given not only the ongoing conflict but its highly unpredictable dynamics, alternating between escalation and de-escalation.It is to be expected that World Bank economists fret about national debt levels, and the points they make are germane. There are reasons to be optimistic about the highly diverse and interesting economies of North Africa and the Middle East, especially if conflict can be contained and ultimately ended.The author is a Qatari banker, with many years of experience in the banking sector in senior positions.

A month before the European Parliament elections, many of Europe’s industries are fighting to survive. But rather than make the difficult decisions needed to reverse the European Union’s industrial decline, leaders have often settled for the status quo. Some populist leaders even oppose plans to modernise Europe’s industrial base – effectively deceiving the public in the process.Europe’s manufacturing sector has faced a series of unprecedented challenges in recent years. The Covid-19 pandemic and the Ukraine war laid bare Europe’s reliance on others for critical goods and dealt serious blows to manufacturing by disrupting supply chains and triggering energy and cost-of-living crises.The embrace of short-termism by corporations – reflected in their preference for dividends and share buybacks over reinvestment of profits – has further undermined the EU manufacturing sector’s dynamism and resilience. Compounding all these challenges is the biggest crisis of them all – climate change – which is generating rapidly increasing financial and human costs.The impact on European industry is already apparent. In 2022, the EU’s trade deficit reached a staggering €432bn ($465bn), driven by both higher spending on energy imports and manufacturing losses linked to the energy crisis. In February 2024, industrial production fell by 6.4% in the euro area and by 5.4% in the EU year on year.Unless the EU reverses its industrial decline, Europeans could end up without industries that have, for decades, provided quality jobs to countless workers, who gained not only economic security, but also a sense of purpose, community, and identity. And it is not at all clear how that void would be filled.The world’s other major economic powers are already committed to industrial modernisation. Two decades of aggressive industrial strategy have given China a dominant position in most of the clean-technology supply chains. Recently, the United States has responded with an industrial policy of its own, the CHIPS and Science Act and the Inflation Reduction Act (IRA). If European industries are to remain competitive in this environment – and if Europe is to achieve its goal of “strategic autonomy” – the EU will have to follow suit.The good news is that we already have a roadmap for sustainable industrial modernisation: the European Green Deal, a wide-ranging set of policies aimed at transforming the EU into a modern, resource-efficient, and competitive economy. Unfortunately, it hardly represents an easy fix, and we are a long way from delivering on it. To get there, European policymakers will have to deliver unprecedented levels of investment fast and ensure that industries and workers in all member states are included.The Green Deal’s investment demands are considerable. With electricity consumption projected to rise by around 60% by 2030, the European Commission estimates that €584bn will be needed this decade to modernise our grid alone. This calls for a comprehensive EU-wide investment strategy that both sustains existing heavy industry and incentivises clean-tech innovation.For nearly 20 years, the EU has favoured the emissions-trading “stick” over carrots, or positive incentives for decarbonisation. To be sure, the European Emissions Trading System – which effectively establishes a carbon price by forcing companies to acquire enough permits, or “allowances”, to cover their carbon dioxide emissions – has helped to curb emissions from electricity generation. But it has also increased pressure on European industry’s competitiveness – pressure that the IRA is now compounding.Europe has attempted to ease that pressure through carbon border taxes and foreign subsidy regulation. But these are partial measures. EU leaders must go much further, devising a broader industrial strategy that both addresses investment shortfalls and mitigates the risks associated with the production of more expensive net-zero goods in a fiercely competitive global market.Unfortunately, the EU’s new fiscal rules – agreed by the European Parliament and Council in February – will undermine the bloc’s ability to invest in green technology and industrial upgrading, and deepen disparities among member states. According to research by the European Trade Union Confederation, only three countries (Denmark, Ireland, and Sweden) can meet their social- and green-investment needs under the EU’s new fiscal rules. To bridge the gap across the rest of the EU, an additional €300-420bn annually will be needed. If that funding is not delivered, the EU’s internal market risks fragmentation, which would accelerate deindustrialisation.Moreover, support for working communities – provided through strong social conditionalities on all public-funding, public-procurement, and lead-market initiatives – is needed to boost economic growth, create jobs, and protect the environment, all of which is essential to win public trust. Exceptional times demand innovative solutions, not more of the same failed policies. Approaches like austerity, labour-market flexibilisation, and privatisation will only exacerbate the problems we face.Similarly, short-sighted populism is no substitute for the holistic industrial strategy Europe needs to match those of its competitors – an approach that accounts for all dimensions of the challenges ahead. For example, a one-dimensional focus on strict environmental criteria risks producing unaffordable green products, which would stall progress in electric vehicles and other critical industries.The choices we make in the coming years will determine whether European industry – integral to the EU’s social fabric – has a long-term future. That is why the next European Parliament must make implementing a renewed European Green Deal, complemented by initiatives to bolster industry and attract broad public support, a top priority.— Project SyndicateJudith Kirton-Darling is General Secretary of the European trade union IndustriAll.

As the Vietnamese ambassador Tran Duc Hung is set to conclude his service in Qatar, he stressed that bilateral relations between Qatar-Vietnam have a strong potential for more co-operation in all fields to further strengthen the friendly relations between the nations on all levels.He said: "I arrived in Doha especially at the peak of the Covid-19 pandemic. Three years is not a long period but exciting for me to live, work and meet people here in Doha. As a professional diplomat, I have got experiences in different parts of the world from Singapore, the US and now Qatar. Along with friends in Qatar in my last posting here, I gained great and unforgettable experiences."In the first year of my posting during the pandemic time, diplomatic activities were implemented in restricted ways, but somehow Vietnam-Qatar relations have been maintained and developed successfully. Right after the end of the pandemic, the number of Vietnamese enterprises coming to Qatar to explore investment opportunities has been rapidly increasing. Two big Vietnamese companies also held a number of activities to promote tourism between Vietnam and Qatar."In recent years, Vietnam-Qatar relations have made progress in multifaceted fields. The exchange of visits at various high levels from both sides’ leadership has cemented bilateral relations between the two countries. Especially, the agreement on a mutual visa exemption for diplomatic official and special passport holders was signed in August 2022 and then put into effect in September 2023. This has created more favourable conditions for boosting bilateral relations. "He stressed that "economic co-operation has been enhanced with the two-way trade volume increasing from $400-500mn to around $770mn. The Embassy also co-operated with a number of Vietnamese companies to participate in AgriteQ 2023 at Expo 2023 Doha with their top agricultural products such as rice, pepper, cashew nuts, agarwood and others."Besides, he said Petro Viet Nam has taken part in a number of energy- related service and LNG contracts with its Qatar counterparts. Vietnam has provided Qatar with 500 skilled labourers in such fields as energy, construction, and others."It is one of our priorities to develop bilateral labour co-operation, which meets the current demand of Qatar," stressed the ambassador.He further noted that "Qatar Airways is operating successfully in Vietnam. Qatar Investment Authority has invested hundreds of millions of US dollars into the Vietnamese market. Last year, Vietnam and Qatar celebrated the 30th anniversary of the establishment of diplomatic relations. Accordingly, the Embassy of Vietnam held a variety of cultural events from film screening to art performance."The envoy remarked that such events bring people of both countries closer together. Eventually, he concluded that Qatar is a safe, advanced, well-organised and peaceful country with excellent living standards that that promotes coexistence among different people.

Uber, Lyft, DoorDash, Instacart, and other gig corporations are once again seeking the law’s blessing in the United States for their unscrupulous employment practices. Ahead of November’s election, these firms have proposed several ballot initiatives in Massachusetts that would empower them to classify drivers and delivery people as independent contractors rather than employees. (The Open Markets Institute, where I work, filed an amicus brief supporting a challenge to the constitutionality of the ballot questions.)As with Proposition 22 in California in 2020, Uber and other companies will probably spend lavishly to convince voters that these measures would benefit the affected workers and the public alike.If Massachusetts voters endorse the ballot initiatives in November, these firms would have the freedom to rob workers of basic employment rights and benefits, including minimum wages, overtime pay, workers’ compensation, and unemployment insurance. It would also give gig employers a major – and manifestly unfair – competitive advantage over rivals and drive down labour-market standards. Instead of encouraging this exploitative business model, state and federal policymakers should force these companies to comply with the laws that apply to all employers.Gig companies have misclassified their main workforce from the beginning, openly violating the law or exploiting its ambiguities. Uber and Lyft, for example, have insisted to regulators and the public that their drivers are independent contractors and thus not entitled to the rights and protections of employees, including the freedom to organise. These companies retain the control of an employer – Uber tells its drivers who to pick up and what routes to take, and sets their fares – while renouncing the responsibilities and costs of being one.The ballot initiative process could lift the legal cloud hanging over gig corporations – at least in Massachusetts, where they appear to be in violation of pro-worker employment laws. In 2020, then-Attorney General Maura Healey (who is now the state’s governor) sued Uber and Lyft, alleging that they misclassified drivers as independent contractors and illegally denied them the minimum wage and overtime pay. Proceedings in the case have just begun.Codifying the classification of gig companies’ drivers, shoppers, and delivery people as independent contractors would cause substantial harm. For starters, gig workers would be formally stripped of employment rights. Despite being misclassified, they can currently pursue legal recourse under Massachusetts law for nonpayment of the state’s $15 minimum hourly wage. Moreover, gig workers would not be entitled to unemployment insurance if they lost their job, or compensation if injured or attacked while on the clock.These are not merely theoretical harms. Many, if not most, Uber and Lyft drivers make less than the applicable minimum wage after factoring in the costs of their vehicle, gas, and insurance. Many gig workers lost their livelihood during the Covid-19 pandemic. Cab and delivery drivers are frequently attacked or injured on the job.According to the Federal Bureau of Labour Statistics, transportation and delivery is the most dangerous line of work in the US, with 1,620 fatalities in 2022. Depriving gig workers of basic protections would have severe consequences for a group made up disproportionately of immigrants and people of colour.What gig companies are seeking in Massachusetts and elsewhere is a permanent competitive advantage over rivals that must comply with the state’s employment laws. Firms that misclassify workers as independent contractors, and thus shirk their responsibilities as employers, save an estimated 20-40% on labour costs.Uber, Lyft, and DoorDash already possess this advantage. Rivals required to classify their workers as employees would still need to pay their workers a liveable wage and contribute to the state social safety net. Taxicab companies that employ drivers and restaurants and supermarkets that deliver food have already lost substantial market share to gig companies that have long violated employment laws and were able to operate at a loss for years on end. The proposed ballot initiatives would legalise this unfair competition.The injustice is clear: a restaurant that employs a driver to deliver meals would be obligated to pay them at least $15 per hour, while DoorDash, delivering the same food from the same restaurant, could legally pay its driver less. When Congress enacted the national minimum wage and overtime law in 1938, it called payment of sub-living wages to workers “an unfair method of competition.”Lastly, if successful, the proposed ballot initiatives would unleash a race to the bottom. Over time, gig companies would capture even more market share through their harmful labour practices, and employ more workers who lack fundamental protections. Their rivals would face the choice of complying with the law and potentially going out of business, or engaging in practices such as wage theft to remain competitive. Though ostensibly narrow in scope, these measures could ultimately undermine Massachusetts’s strong labour-market standards.The proposed ballot initiatives represent an insidious effort on the part of gig corporations to legalise their unlawful business models. While a defeat at the ballot box – or in court – could force these companies to change tack in Massachusetts that will not be enough.State and federal policymakers must take stronger action against these companies, which have largely succeeded by violating the rules enacted by elected officials. They have moved fast and broken things, and now seek after-the-fact validation for the damage they have caused. The government should say enough is enough: no-one, including Uber, is above the law.— Project SyndicateSandeep Vaheesan is Legal Director at the Open Markets Institute.