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The capitalist order has entered the second stage of its on-going economic and financial crisis which unfolded step by step in the last three years. It is the result of the macro economic and financial policies by the advanced countries. The objective is to intensify the exploitation of the markets, labour and natural resources of the developing countries. The excessive risk taking, asset build up, credit booms and wild speculation and greed by international banks and multinational corporations in the developed countries led to the crisis.

On the occasion of World Environment Day on 5 June 2010 Director-General of World Trade Organization (WTO) Pascal Lamy said “we simply cannot proceed with business as usual — if our planet is to be preserved for future generations, we must protect our resources, our planet's biodiversity and our environment at large”. He noted that “the leaders that founded our organization were adamant that sustainable development lies at the very core of our mission”.

New York: Years of persistent efforts to vaccinate all pregnant women in Myanmar against maternal and neonatal tetanus have borne fruit with the country now declared free of the disease, the second East Asian nation to have achieved that milestone status, the United Nations Children's Fund (UNICEF) reported.

New York: In the shadow of the financial crisis and global recession, an adviser to UN Secretary-General Ban Ki-moon has proposed a new United Nations group of experts to find new and more stable sources of funding and help close the gap in reaching the Millennium Development Goals (MDGs) - anti-poverty targets world leaders have agreed to try to attain by 2015.

New York: Talks aiming to reunify the Mediterranean island of Cyprus are continuing along the parameters agreed between the Greek Cypriot and Turkish Cypriot leaders and the United Nations, an adviser to the UN Secretary-General said.

New York: It is essential for States to set up social protection measures, such as universal pensions, to protect older persons against poverty, an independent United Nations human rights expert said.

New York: The United Nations telecommunications agency's quadrennial development conference wrapped up today with participants adopting a plan of action to promote the global development of information and communication technology (ICT) networks and services.

New York: A deteriorating food crisis in southern Sudan could turn catastrophic unless the humanitarian community steps up contributions to enable agencies to boost their relief efforts in the region, the top United Nations relief official said.

New York: The Republic of Korea today formally requested the Security Council to take up the matter of the sinking of one of its naval ships, alleged by the country to have been carried out by neighbouring Democratic People's Republic of Korea (DRPK).

The Executive Board of the International Monetary Fund (IMF) has approved the sixth review of Sierra Leone's performance under the Extended Credit Facility (ECF) arrangement. The approval will enable a final disbursement of SDR 7 million (about US$10.2 million), bringing total disbursements under the program to SDR 51.88 million (US$75.8 million). In completing the review, the Executive Board granted a waiver for the non-observance of the quantitative performance criterion on the domestic primary fiscal balance of the central government.