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Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight, disrupting already strained maritime trading routes, according to UN agency UNCTAD. UNCTAD, the United Nations Conference on Trade and Development, which supports developing countries in global trade, warned of risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions. Shipping companies have diverted ships from the Red Sea since the Iran-alighned Houthi movement, which controls most of the populated parts ...

UNCTAD is warning of higher inflation, uncertainty of food security and higher greenhouse gas emissions

The U.N. trade body sounded an alarm that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal

Maritime transport, often described as the lifeblood of international trade, plays a paramount role in global logistics.

An "explosion" of multibillion-dollar claims by fossil fuel and extractive firms through shadowy investment tribunals is blocking action on climate and nature, the UN Special Rapporteur for Human Rights and Environment has warned, with developing nations increasingly targeted."The explosion of ISDS claims in recent years, and the threat of such claims, is led by fossil fuel, mining and other extractive industry corporations," Boyd said in his report.