The United Nations member states failed to reach a landmark treaty to regulate the multi-billion-dollar arms trade, with some diplomats blaming the United States for the deadlock.
Major weapons exporting nations, including United States and Russia, said more time was needed to finalize an agreement at regulating the estimated $60 billion global arms trade business.
UN Secretary-General Ban Ki-moon expressed disappointment at the delay in reaching a treaty.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.