Shibbir Ahmed, New York — UN Secretary-General António Guterres has called for a major overhaul of the international system, saying the institutions created after the Second World War must change to reflect the growing economic and geopolitical influence of emerging economies. Speaking to leaders at the 18th BRICS Summit in New Delhi on Sunday, Guterres said the world of today is fundamentally different from that of 1945 and that global institutions must reflect current economic, demographic and geopolitical realities.

“Today’s economic, demographic and geopolitical realities are not those of 1945,” Guterres said. “Our institutional structures must reflect it.”

He said the countries represented at the summit reflected the changing balance of global power and pointed to the emergence of an increasingly multipolar world. Guterres argued that multipolarity can bring greater balance and equity to international institutions, but said that would require reforms to bodies including the UN Security Council and the Bretton Woods institutions.

The UN chief outlined four priorities for what he described as inclusive global growth: financing, technology, climate justice and peace. On development financing, Guterres said developing countries need substantial international support to achieve the Sustainable Development Goals. He urged multilateral development banks to become “bigger, better and bolder” to help meet the scale of financing required. Turning to artificial intelligence, he warned that the benefits of the technology remain concentrated among a relatively small number of companies and countries.

“Unchecked, the AI divide will widen every other divide — in income, in opportunity, in security, and in sovereignty,” Guterres warned.

Climate change was another major focus of his address. Guterres pointed to extreme heat, melting glaciers, wildfires and devastating floods as signs of the worsening climate crisis and warned that a stronger El Niño could make conditions even more difficult as the world approaches the 1.5-degree Celsius threshold above pre-industrial levels.

He called on wealthy nations to honor existing climate-finance commitments, including increased adaptation financing and stronger support for countries facing loss and damage. He also criticized the exploitation of critical minerals, calling for an end to what he described as “plundering.”

On peace and security, Guterres highlighted conflicts and crises in Gaza, the wider Middle East, Ukraine and Sudan. He urged countries to uphold the UN Charter, including the principles of sovereign equality, territorial integrity and the peaceful settlement of disputes. Guterres said reforming the international system should be viewed as a shared responsibility rather than a concession to emerging powers.

“As we move irreversibly to a multipolar world, all countries must work to strengthen and safeguard a multilateral system that delivers for all with the United Nations at its centre,” he said.

The BRICS summit, hosted by India, brought together leaders of major emerging economies and senior international officials as discussions focused on global governance, economic cooperation, development, technology, climate change and international peace and security.

Shibbir Ahmed, WASHINGTON DC  — Artificial intelligence could give developing countries a rare opportunity to accelerate economic growth, improve public services and address long-standing development challenges, according to the World Bank’s World Development Report 2026: The Promise of Artificial Intelligence.

The report examines the potential impact of artificial intelligence on 5.6 billion people living in low- and middle-income countries and argues that developing economies do not need to build the world’s most advanced AI systems to benefit from the technology. Instead, the World Bank recommends that countries follow a three-part approach: adopt, adapt and advance.

The report says developing countries can begin by adopting existing AI tools in areas such as health care, agriculture, education and government services. They can then adapt those technologies to local languages, institutions, data and development needs.

AI-powered tools are already helping farmers improve weather-related decisions, supporting medical screening and assisting teachers in preparing educational materials, according to the World Bank.

The institution warns, however, that the benefits of AI will not be automatic. Reliable infrastructure, digital connectivity, education, skills, strong institutions and access to relevant data will be essential if developing economies are to translate AI adoption into higher productivity and broader prosperity.

The report also highlights the risk of a widening global AI divide. A small number of countries and companies currently dominate advanced AI models, semiconductor production and data-center infrastructure, potentially creating new forms of technological dependence.

For most developing economies, the World Bank says building frontier AI models from scratch is unlikely to be a realistic near-term strategy because of the enormous costs involved in computing infrastructure, data and specialized talent.

Instead, countries should focus on practical applications that expand access to expertise and improve productivity while building the infrastructure and skills needed for deeper participation in the AI economy.

The World Bank describes the rapid spread of AI as a historic opportunity for developing economies, noting that AI is spreading faster than earlier general-purpose technologies such as electricity and the internet.

The report argues that strategic adoption and adaptation could allow developing countries to capture significant economic and social gains without having to compete directly with the world’s largest technology companies in developing frontier AI systems.

Shibbir Ahmed, NEW YORK — Oil prices climbed above $100 a barrel on Wednesday as escalating tensions between the United States and Iran raised fresh concerns about disruptions to global energy supplies and shipping through the strategically vital Strait of Hormuz.

Brent crude, the international benchmark, rose above the $100 mark as investors reacted to the widening confrontation in the Middle East. The surge reflects growing fears that continued military escalation could threaten oil flows through the Strait of Hormuz, a critical route for global energy shipments.

The latest increase came amid heightened tensions following U.S. military action involving Iranian oil tankers and Iran’s subsequent missile attacks toward a U.S.-used military facility in Jordan.

The Strait of Hormuz has become a central focus of the crisis. A prolonged disruption in the waterway could have significant consequences for global oil markets because a substantial share of the world’s petroleum shipments passes through the narrow strategic corridor.

Higher crude prices are also raising concerns about renewed inflationary pressure. A sustained increase in energy costs could push up prices for gasoline, transportation and other goods, potentially complicating efforts by central banks to control inflation.

Financial markets have responded cautiously to the escalation. Investors are closely watching developments between Washington and Tehran for signs that the conflict could expand further or threaten critical energy infrastructure and shipping routes. The rise above $100 a barrel represents a major psychological threshold for global energy markets and underscores the economic risks posed by the widening U.S.-Iran confrontation.

Analysts say oil prices could remain volatile as long as uncertainty persists over the security of shipping through the Strait of Hormuz and the possibility of further military escalation in the region.