NEWS DIGEST: Economy · Development · International Finance

1. International Labour Organization Adopts the First-Ever Convention on Decent Work in the Platform Economy

ilo.org, 12 June 2026

150 million platform workers to receive basic labour protections

On 12 June 2026, at the 114th Session of the International Labour Conference in Geneva, the Convention concerning Decent Work in the Platform Economy (No. 193) was adopted — the world's first legally binding international standard specifically dedicated to digital labour platforms. The Convention establishes a basic level of protection for more than 150 million platform workers worldwide, regardless of their formal employment status, and covers such issues as algorithmic management, personal data protection, fair remuneration, and access to social protection. A total of 406 delegates voted in favour of its adoption. The document establishes basic protections for digital platform workers regardless of their formal employment status and addresses issues including algorithmic management, personal data protection, fair remuneration, and access to social protection. The Convention applies to all digital labour platforms and platform workers, including both online and location-based platform work. The Convention does not require all platform workers to be automatically classified as employees. However, it provides measures for correctly determining their employment status and establishes safeguards regardless of that status. In particular, the document provides protection against discrimination, forced and child labour, ensures safe and healthy working conditions, protection from violence and harassment, timely and transparent remuneration, personal data protection, and safeguards related to the use of automated systems and algorithms.

Read more: ILO — Convention concerning decent work in the platform economy

2. The Cost-of-Living Crisis in the UK Is Real — the Problem Is That It Is Being Ignored

taxresearch.org.uk, 11 August 2026

14 million UK residents are facing cost-of-living difficulties

Economist Richard Murphy responds to a reader who questioned whether the cost-of-living crisis in the UK is real, arguing that if stadiums and pubs are full, there can be no crisis. Murphy explains that the problem is not that everyone is poor, but rather the severe inequality in the distribution of income and wealth. Millions of people struggle to cover basic expenses for housing, energy, and food, while remaining “invisible” to those who do not face such difficulties. The author calls attention to the well-being of around 14 million UK residents who, according to his assessment, are experiencing cost-of-living pressures. As Murphy notes, “the problem creating the crisis is the extremely unequal distribution of wealth and income.” In his view, the fact that some people can afford football matches, holidays abroad, or visits to pubs does not mean that other groups of the population are not experiencing a crisis.

Read more: Tax Research UK — The cost-of-living crisis is real

3. ADB Provides $800 Million to the Philippines and Maldives Amid the Impact of the Middle East Conflict

adb.org, 11 August 2026

$800 million rapidly deployed by ADB to the Philippines and Maldives

The Asian Development Bank (ADB) is rapidly providing $800 million to maintain access to healthcare in the Philippines and ensure uninterrupted electricity and water supplies in the Maldives amid rising resource costs caused by the conflict in the Middle East. The package includes a $750 million loan under the third subprogram of the Philippines' Universal Health Care Program, with financing increased by $250 million, and a $50 million emergency loan for the Maldives Energy Security Project. ADB President Masato Kanda noted that a conflict “does not necessarily have to cross a border to enter a family's home” — its impact can be felt through medicine prices and access to electricity. The Japan International Cooperation Agency (JICA) increased its parallel co-financing to approximately $188 million.

Read more: ADB — Support for the Philippines and Maldives

4. World Bank: More Than One Million People in Papua New Guinea to Gain Improved Access to Rural Services

worldbank.org, 10 August 2026

$100 million allocated to the RSDP-2 project for more than 1 million people

The World Bank has approved the $100 million Rural Service Delivery Project Phase 2 (RSDP-2), which will expand a successful community-led development model across 12 provinces of Papua New Guinea. The project will help more than one million people gain access to clean water, sanitation, healthcare facilities, classrooms, rural roads, and electricity. The first phase of the programme has already benefited more than 291,000 people across five provinces. The new phase, financed through the International Development Association (IDA), will support at least 800 infrastructure facilities and create more than 39,000 jobs, while also reaching 300,000 residents of remote areas.

Read more: World Bank — Improved rural services in Papua New Guinea

5. Serbian Dairy Producer Invests in Energy Efficiency with EBRD and EU Support

ebrd.com, 11 August 2026

100,000 litres of milk processed by Milk House per day following modernization

Family-owned Milk House, based near Niš, has grown from a small operation processing 500 litres of milk per day to a company processing around 100,000 litres daily. With support from the European Bank for Reconstruction and Development (EBRD) and EU grants, the company is investing in solar energy and equipment modernization. The investments are being made under the SME Go Green programme, through which the EBRD provides financing while the EU offers grant incentives to support small and medium-sized enterprises in transitioning to greener technologies.

The modernization is expected to reduce energy costs and increase the company's productivity while preserving the traditional recipes and product quality valued by its customers.

Read more: EBRD — Milk House energy efficiency upgrades