WTO : EU initiates arbitration proceedings against China in TRIPS dispute (PRIV)
(D. Ravi Kanth, Yerevan)
The European Union on 24 April initiated arbitration proceedings against China at the World Trade Organization, after a WTO dispute panel had largely ruled in favour of China in a rather complex dispute involving the WTO's TRIPS Agreement, said people familiar with the ruling.

Climate : FRLD Board establishes modalities for start-up phase of $250 million (PRIV)
(Prerna Bomzan, Kathmandu)
The 5th meeting of the Board (B.5) of the Fund for responding to Loss and Damage (FRLD), which met on 8-10 April in Bridgetown, Barbados, successfully decided to establish the "Barbados Implementation Modalities (BIM)" as the start-up phase of the Fund, "consisting of a first set of interventions, for the calendar years of 2025 and 2026 for an amount of USD 250 million".

UN : World economy on a recessionary trajectory, warns UNCTAD (PRIV)
(Kanaga Raja, Penang)
Global growth is expected to slow to 2.3% in 2025, falling below the 2.5% threshold that is often associated with a global recessionary phase, according to UN Trade and Development (UNCTAD).