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World Bank retires 45% climate co-benefits goal, extends climate action plan
The World Bank Group said June 29 it will retire its 45% and earlier 35% climate co-benefits targets while extending the Climate Change Action Plan beyond its June 2026 expiry. The board requested an Independent Evaluation Group review, and the bank will continue reporting net greenhouse gas emissions, resilience beneficiaries and climate co-benefits progress.
Markets · a month agoMSCI keeps Indonesia in EM until November review, leaves South Korea in EM over FX access
MSCI said Indonesia will stay in the Emerging Markets category while it assesses implementation of reforms on shareholder disclosure, investor classification, concentrated ownership monitoring and a higher free-float threshold, with a November 2026 checkpoint for possible reclassification consultation. South Korea remained in Emerging Markets as offshore won convertibility and extended-hours onshore FX liquidity issues persist.
Finance & Banking · a month agoChina's Legislature Reviews Broad Financial Framework Law for Unified Sector Oversight
The draft law, now before the National People's Congress Standing Committee, would create a foundational framework for the financial sector, place all financial activities under unified supervision, require approval for institutions and products, formalize risk-resolution tools, and state that the renminbi includes both physical and digital forms.
Finance & Banking · a month agoIreland says it can broker EU capital markets package agreement by year-end despite opposing centralized oversight
Ireland said it aims to secure an EU agreement on the capital markets package by the end of 2026 during its rotating presidency, while maintaining that expanded centralized supervision by ESMA is not necessary. The package is part of the EU Savings and Investments Union and includes market integration and supervision reforms proposed by the European Commission.
Central Banks & Policy · a month agoCuba approves broad economic reforms to expand private business and foreign investment
Cuba has approved an emergency package of 176 economic measures across 23 sectors that expands scope for private enterprise, allows foreign companies to invest directly in the private sector, reduces most price controls, and gives municipalities and state firms greater authority to partner with private businesses and cooperatives.
Central Banks & Policy · a month agoG7 says it will intensify work on debt risks and back broader G20 Common Framework use
G7 leaders said on June 16 they will step up efforts to address rising debt pressures in developing economies and support stronger implementation of the G20 Common Framework. Reuters reported the pledge includes attention to middle-income countries that are not currently eligible for the debt-relief mechanism.
Economy · a month agoILO approves first global convention setting labor standards for platform-based work
The International Labour Organization adopted its first international convention for gig and platform workers, establishing binding labor standards including protections regardless of employment classification and disclosure of how automated systems affect workers. The convention takes effect in member states 12 months after ratification.
Companies & Earnings · a month agoChina Motorcycle Trade Group Calls for Pricing Discipline Across Export-Focused Industry
China's motorcycle industry association issued a public proposal urging manufacturers, exporters and parts suppliers to avoid steep discounting and disorderly competition, strengthen intellectual property protection, improve product quality and coordinate overseas market practices. China exported 18.23 million motorcycles in 2025, according to the association.
Technology · a month agoILO approves first global convention setting labor rules for platform-based work
The International Labour Organization adopted Convention No. 193 at the International Labour Conference in Geneva on June 12, 2026, creating the first binding international standards for digital platform work. The measure establishes rules covering employment protections for gig workers and includes international provisions on algorithmic management.
Central Banks & Policy · a month agoBrazil Senate committee approves central bank financial autonomy measure tied to Pix oversight
Brazil’s Senate Constitution and Justice Committee approved a proposal expanding the central bank’s financial and administrative autonomy, including exclusive authority over Pix regulation and limits on transferring the payments system to another entity. Trade groups for banks, fintechs and payment companies publicly supported stronger central bank supervisory authority.