Nations adopt historic pledge to guard against future pandemics

The effects of the devastating COVID-19 pandemic are still being felt. Around seven million people died, health systems were overwhelmed, and the global economy was practically driven to a standstill.

The global turmoil prompted a stunned international community to pursue an agreement aimed at preventing such a catastrophic event from happening again – and ensuring the world is far better prepared in the future.

The landmark decision was made at the World Health Assembly, the annual meeting of the World Health Organization (WHO).

Although the formal adoption was on Tuesday, the WHO’s Member States overwhelmingly approved the agrement on Monday (124 votes in favour, 0 objections, 11 abstentions).

This meant that, rather than a nail-biting vote with last-minute surprises (ahead of the conference, Tedros Adhanom Ghebreyesus, WHO Director-General, only felt able to express “cautious optimism”), the adoption by consensus had a celebratory feel.

The agreement is a victory for public health, science and multilateral action,” declared Tedros. “It will ensure we, collectively, can better protect the world from future pandemic threats.

“It is also a recognition by the international community that our citizens, societies and economies must not be left vulnerable to again suffer losses like those endured during COVID-19.”  

WHO Member States approved the first-ever Pandemic Agreement on 19 May 2025

WHO Member States approved the first-ever Pandemic Agreement on 19 May 2025

‘Once-in-a-lifetime opportunity’

The pandemic laid bare gross inequities between and within countries, when it came to diagnostics, treatments, and vaccines, and a core aim of the agreement is to plug gaps and treat any future pandemics in a fairer and more efficient way.

“Now that the Agreement has been brought to life, we must all act with the same urgency to implement its critical elements, including systems to ensure equitable access to life-saving pandemic-related health products,” announced Dr. Teodoro Herbosa, Secretary of the Philippines Department of Health, and President of this year’s World Health Assembly, who presided over the Agreement’s adoption.

“As COVID was a once-in-a-lifetime emergency, the WHO Pandemic Agreement offers a once-in-a-lifetime opportunity to build on lessons learned from that crisis and ensure people worldwide are better protected if a future pandemic emerges.”

The issue of national sovereignty has been raised several times during the process of negotiating the accord, a reflection of false online claims that WHO is somehow attempting to wrest control away from individual countries.

The accord is at pains to point out that this is not the case, stating that nothing contained within it gives WHO any authority to change or interfere with national laws, or force nations to take measures such as banning travellers, impose vaccinations or implement lockdowns.

WHO Member States approved the first-ever Pandemic Agreement on 19 May 2025

 

Next steps

The adoption has been hailed as a groundbreaking step, but this is just the beginning of the process.

The next step is putting the agreement into practice, by launching a launching a process to draft and negotiate a Pathogen Access and Benefit Sharing system (PABS) through an Intergovernmental Working Group.

The result of this process will be considered at next year’s World Health Assembly.

Once the Assembly adopts the PABS annex, the agreement will then be open for signature and consideration of ratification, including by national legislative bodies. After 60 ratifications, it will enter into force.

Other provisions include a new financial mechanism for pandemic prevention, preparedness and response, and the creation of a Global Supply Chain and Logistics Network to “enhance, facilitate, and work to remove barriers and ensure equitable, timely, rapid, safe, and affordable access to pandemic-related health products for countries in need during public health emergencies of international concern, including pandemic emergencies, and for prevention of such emergencies.”

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UNFPA calls on US to reconsider ban on future funding

In a statement, UNFPA said the move – which invokes a 1985 legal provision known as the Kemp-Kasten Amendment – is based on “unfounded claims” about the agency’s work in China. These allegations, it noted, have “long been disproven”, including by the US Government itself.

The Kemp-Kasten amendment states that no funds can go to any organization or programme which support any “coercive abortion or involuntary sterilization,” as determined by the US president.

The funding cut now in effect is in addition to termination notices already issued for more than 40 existing humanitarian projects, representing roughly $335 million in support.

Impact on the most vulnerable

UNFPA – formally the UN Population Fund – said the loss of US support will significantly undermine efforts to prevent maternal deaths, especially in conflict-affected and crisis-hit regions.

It will cut essential support for millions of people living in humanitarian crises and for midwives preventing mothers from dying in childbirth – work that is a ‘best-buy’ in development, a cost-effective investment that generates positive returns over generations,” the agency stated.

The US, a founding and long-standing partner, has over the decades helped strengthen global health systems and save countless lives, UNFPA said.

“Over the past four years alone, with the US Government’s life-saving investments, we prevented more than 17,000 maternal deaths, nine million unintended pregnancies and nearly three million unsafe abortions by expanding access to voluntary family planning,” the agency added.

Call to reconsider

UNFPA urged Washington to reconsider its position and “reclaim its position as a leader in global public health, saving millions of lives.”

“Funding UNFPA – the only United Nations agency dedicated to reproductive health and rights – is the surest way of reducing the risk of coercive practices around the world,” the agency said.

It also emphasised its continued commitment to dialogue with the US Government through the UNFPA Executive Board, where the United States has been an active member for over 50 years.

The agency also vowed to continue to work tirelessly under its mandate to uphold the health, safety, and dignity of women and girls worldwide.

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As budgets shrink, UN Peacekeeping looks to the future

“This is a particularly timely meeting,” said Jean-Pierre Lacroix, UN Under-Secretary-General for Peace Operations, at a press conference in New York on Thursday.

It’s a unique opportunity to underline the added value of peacekeeping and ensure we remain ready, as a peacekeeping family, to respond with Member States to any new mission that may arise.”

The UN Peacekeeping Ministerial 2025 is expected to draw around 1,000 delegates to the German capital next month, including foreign and defence ministers from across the globe. Their goal: to shape a peacekeeping model that is more agile, intelligent and resilient.

UN Secretary-General António Guterres is also due to attend the meeting taking place on 13 and 14 May.

Facing growing challenges

As conflicts intensify from South Sudan to the Middle East and Kashmir, and as geopolitical divides weaken international consensus, this biennial conference is being called one of the most significant since its inception in 2014.

We are facing more internal and inter-State conflicts than at any point since the Second World War,” Mr. Lacroix noted, pointing to the increasing complexity of modern warfare.

Additional challenges such as transnational crime, online disinformation, and climate change are also affecting missions – at a time when peacekeeping budgets continue to shrink.

‘Difference between life and death’

Despite these pressures, ‘blue helmets’ continue to carry out their work under extremely difficult conditions. “They protect hundreds of thousands of people,” said the peacekeeping chief. “Very often, their presence is the difference between life and death.”

Germany, a key contributor to UN peacekeeping, is leading the organization of the upcoming meeting. “Peacekeeping is multilateralism in action,” said Nils Hilmer, Germany’s State Secretary for Defence. “We want to provide a platform for Member States to strengthen peacekeeping for the future.”

Sessions in Berlin will include pledging events, high-level debates, exhibitions, and a spotlight on Germany’s involvement in missions such as UNIFIL in Lebanon and UNMISS in South Sudan.

At the heart of the UN

Katharina Stasch, Germany’s Director-General for International Order and Disarmament, highlighted the symbolic power of peacekeepers. “For many, the blue helmets are the face of the UN. Peacekeeping is at the heart of the organization.”

The meeting will also support progress on the UN’s Pact for the Future reform initiative, with topics including conflict prevention, digital innovation, regional partnerships and countering disinformation.

“The mission remains the same,” said Mr. Lacroix. “Helping host countries through their most turbulent times – despite tighter budgets.”

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Bajaj Auto Reports 9% Net Profit Growth in Q2 FY25, Driven by Strong EV Sales

Bajaj Auto on Wednesday announced a 9% rise in net profit for the July-September quarter (Q2 FY25), posting a net income of Rs 2,005 crore, driven by robust performance in its green energy segment. The company’s electric vehicle (EV) sales surged, contributing significantly to its overall growth.

Adjusted for exceptional deferred tax provisions, Bajaj Auto’s profit after tax (PAT) reached Rs 2,216 crore, marking a 21% year-on-year increase. The company explained that the reported PAT of Rs 2,005 crore accounted for an additional provision of Rs 211 crore due to the impact of the Finance Act, 2024, which withdrew indexation and changed tax rates on investment income.

Revenue from operations grew 22% year-on-year, hitting Rs 13,000 crore for the quarter. Bajaj Auto’s stock responded positively, closing 0.88% higher at Rs 11,622.5 per share on Wednesday.

Electric Vehicles Lead the Charge

Bajaj Auto’s green energy portfolio hit new milestones, with the sale of 1 lakh electric vehicles (EVs) in September alone. Of these, 70,000 were Chetak electric scooters, which captured a 21% market share that month. The company’s portfolio of electric and CNG vehicles, spanning both two-wheelers (2W) and three-wheelers (3W), now contributes 40% of its total domestic revenues.

The company noted strong double-digit growth in its motorcycle and commercial vehicle segments, largely fueled by the near-tripling of electric scooter sales. The Pulsar brand continued to perform well, achieving its highest-ever quarterly sales of 1.1 lakh units.

Future Prospects

Bajaj Auto is also making strides in the electric three-wheeler (e3W) market, where it aims to replicate its dominance in the internal combustion engine (ICE) segment. The company reported that its market share in the e3W segment doubled from last year, reaching 35% by the end of the quarter.

The company remains in a strong financial position, with surplus cash reserves of Rs 16,392 crore at the end of Q2. This follows strategic investments of Rs 1,200 crore, primarily directed towards Bajaj Auto Credit Ltd. and EV-related capital expenditures, as well as a Rs 2,233 crore dividend payout in the first half of FY25.

With growing demand for electric vehicles and a strong financial base, Bajaj Auto is well-positioned to capitalize on the expanding green energy market and continue its upward trajectory.

Odyssey Nears Deal to Acquire Honeywell’s PPE Unit

Private equity firm Odyssey is reportedly in advanced negotiations to acquire Honeywell’s face mask unit, a potential deal valued at around $1.5 billion. This acquisition marks a strategic move by Odyssey to capitalize on the surging demand for personal protective equipment (PPE), driven by the global pandemic. The deal would be a significant milestone in the PPE industry, as face masks have become an essential commodity worldwide.

The ongoing talks, initially reported by Bloomberg News, suggest Odyssey’s growing interest in expanding its investment portfolio within the PPE sector. Honeywell, a global conglomerate known for its diversified product offerings, including aerospace systems and engineering services, has played a key role in meeting the massive demand for PPE during the COVID-19 crisis.

While the reasons behind Odyssey’s interest in Honeywell’s face mask division remain unspecified, the acquisition is seen as a calculated effort to tap into the lucrative market. The surge in demand for PPE since the pandemic began has transformed the sector, making it an attractive investment opportunity for private equity firms.

PPE Market

If the deal proceeds, it could have broader implications for both companies and the PPE market. Honeywell’s face mask unit, known for its production capacity and established reputation, has been a leader in addressing global PPE needs. Odyssey’s acquisition could further shake up the competitive landscape as private equity firms continue to show interest in PPE-related assets.

This is not the first time a private equity firm has targeted the PPE industry. In 2016, Blackstone acquired a majority stake in Ansell Limited’s industrial and medical gloves business for $600 million, a deal that highlighted the profitability of the sector even before the pandemic. Odyssey’s potential acquisition of Honeywell’s unit could be viewed in a similar light, setting the stage for more deals as the industry continues to expand.

While the deal is still in its negotiation phase, the final terms could evolve as discussions progress. The outcome will not only impact Odyssey’s investment portfolio but also shape Honeywell’s future business strategy. Industry stakeholders are watching closely, as this acquisition could set a benchmark for future investments in the PPE market.

OpenAI’s $6.6 Billion Funding Boosts Future Tech Trajectory Avenues Despite Challenges

OpenAI has shattered records by securing a monumental $6.6 billion in funding, a move that could elevate its valuation to an eye-popping $157 billion. This latest round, fueled by a diverse group of investors, positions the AI powerhouse at the forefront of global tech innovation despite undergoing significant internal shifts.

Investor Confidence Amidst Executive Changes

The timing of this funding round is noteworthy, as it comes during a period of organizational restructuring and leadership changes. Notably, the sudden departure of Chief Technology Officer Mira Murati has not dampened investor enthusiasm.

In fact, investor confidence remains robust, with heavyweights such as Thrive Capital, Khosla Ventures, and Microsoft doubling down on their backing. Microsoft’s ongoing support further strengthens its partnership with OpenAI, while Nvidia’s entry as a new investor signals its increasing stake in the future of AI.

The $6.6 billion was raised through convertible notes, with conversion to equity contingent on a structural overhaul. This transformation would shift OpenAI from its original non-profit framework to a for-profit entity, eliminating the cap on investor returns and marking a significant departure from its foundational principles.

Despite these shifts, the appeal of OpenAI’s vision—pioneering artificial general intelligence (AGI)—keeps investors bullish.

Financial Trajectory and Strategic Goals

OpenAI’s financial projections offer insight into why investor confidence remains high. The company anticipates generating $3.6 billion in revenue this year, with expectations of a sharp leap to $11.6 billion in 2025.

While the company currently faces operating losses exceeding $5 billion, these ambitious growth targets suggest that investors are betting on a long-term payoff as OpenAI continues to monetize its technological innovations.

To add further momentum, Thrive Capital has negotiated an additional $1 billion option for 2025, should OpenAI meet its revenue milestones, signaling even more future investment potential.

A Global Investor Lineup

A diverse set of global investors has further bolstered OpenAI’s financial position. SoftBank, Fidelity, and Abu Dhabi’s MGX are all contributing to the company’s future growth. Additionally, OpenAI plans to launch a tender offer to allow employees to sell their shares—an internal move that could increase liquidity, following similar initiatives earlier this year when employees sold shares at an $86 billion valuation.

Apple, a notable tech giant, opted out of this funding round despite early talks. The reasons behind its decision remain unclear, but its absence stands in contrast to the enthusiasm from other tech heavyweights.

Long-Term Vision: AGI and Commercialization

OpenAI’s long-term ambitions center on developing AGI, a form of artificial intelligence that would surpass human cognitive abilities. As the company edges closer to this goal, it is simultaneously scaling its revenue through commercialization, with its signature product, ChatGPT, now boasting 250 million weekly active users. OpenAI’s rapid rise in both valuation—from $14 billion in 2021 to a projected $157 billion—and revenue has outstripped even the most optimistic forecasts.

The next few years will be pivotal as OpenAI navigates its path to profitability while maintaining its bold pursuit of AGI. This dual strategy has resonated with investors, who view the company as a cornerstone of the future AI landscape, capable of reshaping industries from healthcare to finance.

A High-Stakes Future?

OpenAI’s record-breaking funding round marks a significant chapter in its meteoric rise. While internal restructuring and personnel changes raise questions, they have not shaken investor confidence. The substantial capital injection highlights faith in the company’s vision and its ability to lead the AI revolution.

As OpenAI marches toward its ultimate goal of AGI and balances commercialization with groundbreaking research, all eyes will be on how it leverages its newfound funding to secure its place as a transformative force in global technology. The stakes are higher than ever, and OpenAI’s next steps could shape the future of artificial intelligence for years to come.

Coronavirus: Who is the loser in US-WHO rift? Global Health

When US President Donald Trump tweeted a letter to WHO Director-General Tedros Adhanom Ghebreyesus last week threatening to make permanent the US freeze on WHO funding that began in April, unless the organization “can actually demonstrate independence from China” within 30 days, it has heralded another onslaught on fighting the coronavirus pandemic.

If President Trump sidelines the World Health Organization, experts foresee incoherence, inefficiency and resurgence of deadly diseases. The fissure between the United States and the World Health Organization has unveiled further the repercussions which could range from a resurgence of polio and malaria to barriers in the flow of information on COVID-19.

On the flip side, scientific partnerships around the world would be damaged, and the United States could lose influence over global health initiatives, including those to distribute drugs and vaccines for the new coronavirus as they become available, according to health experts.

“I don’t think this is an idle threat,” says Kelley Lee, a global health-policy researcher at Simon Fraser University in Burnaby, Canada. The acrimony is poorly timed when the need of the hour is for international coordination and cooperation to contain with the coronavirus. “In this pandemic, people have said we’re building the plane while flying,” Katz says. “This proposal is like removing the windows while the plane is mid-air,” said Rebeca Katz, director of the Center for Global Health at Georgetown University in Washington DC.

Trump’s Allegations

Trump’s letter, which he tweeted on 18 May, reiterated his earlier allegations that the WHO intentionally ignored reports that COVID-19 was spreading between people in Wuhan, China, in December itself. “I cannot allow American taxpayer dollars to continue to finance an organization that, in its present state, is so clearly not serving America’s interests,” he wrote.

A few of Trump’s claims such that the medical journal The Lancet had published on the new coronavirus in December was debunked the next day when the journal issued a statement calling the claim factually incorrect because their first reports on COVID-19 were published on 24 January.

Tedros has reiterated his commitment to an independent evaluation of the WHO’s response to COVID-19, and an assessment of the organization’s operations in the first part of 2020 that has already been made public. But when reporters asked Tedros, he said, “Right now, the most important thing is fighting the fire, saving lives.”

Last year, the US government gave the WHO roughly US$450 million. Nearly 75% of that was voluntary, and the other quarter was mandatory — a sort of membership fee expected from the 194 member countries, adjusted by the size of their economies and populations. The United States is the biggest donor, representing about 15% of the WHO budget.

So far this year, it has paid about one-quarter — $34 million — of its membership dues, according to a WHO spokesperson. Voluntary funds are more complicated because a large portion were paid last year, however the spokesperson says that the freeze has put a hold on new agreements, meaning that the full-blown effects of the decision will be felt in 2021.

The US government provides 27% of the WHO’s budget for polio eradication; 19% of its budget for tackling tuberculosis, HIV, malaria and vaccine-preventable diseases such as measles; and 23% of its budget for emergency health operations. David Heymann, an epidemiologist at the London School of Hygiene and Tropical Medicine, says this will also amount to resurge of polio.

The WHO will survive a US funding freeze in the next few months as other donors will help to compensate for the financial gap during the pandemic. Already, Chinese President Xi Jinping pledged $2 billion to the coronavirus response.

Even the United States would lose its influence on what the agency does and eventually lose its voting rights. Currently, only three countries — South Sudan, Venezuela and the Central African Republic — are in this category.

With that loss, the United States will relinquish its ability to shape health agendas around the world, says Lee. Ironically, that is exactly what the Trump administration is complaining about. “If the US pulls out and leaves a vacuum, it will be filled by other countries, like China,” she says. “You’ll see a self-fulfilling prophecy.”