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On January 20th, it was reported that the United Nations Development Programme (UNDP) announced on January 19th that it will relocate nearly 400 positions from its New York headquarters to Europe. Approximately three-quarters of these positions will move to Bonn, Germany, while the remainder will relocate to Madrid, Spain. The UNDP stated that this adjustment is part of its institutional reforms aimed at adapting to the changing global financial and development environment, strengthening ties with host countries and partners, and enhancing its support for the world's most vulnerable populations.

On January 20th, British Foreign, Commonwealth and Development Secretary Yvette Cooper announced that the UK will double its troop presence in the Norwegian Arctic. Briefing the House of Commons on Greenland and broader Arctic security, Cooper stated that the UK will increase its Royal Marines in the region from 1,000 to 2,000 within three years. She also confirmed that the UK will participate in a series of exercises in the North Atlantic throughout 2026. "On Greenland, on tariffs, and on broader Arctic security, we are clear, principled, and unwavering in our commitment to protecting British interests," she concluded.

Market news: The extremist group "Islamic State" claims responsibility for the attack on a Chinese restaurant in an Afghan hotel.

On January 20th, Ukrainian President Volodymyr Zelenskyy stated on Monday that as the country prepares for a new wave of large-scale attacks from Russia, the Ukrainian Armed Forces are introducing a new dimension to their air defense system, forming small combat units to intercept drones in order to reform the existing air defense system. Earlier this month, a wave of attacks launched by Russia caused power and heat outages in thousands of apartment buildings, particularly in the capital Kyiv, and Ukraine is still dealing with the effects. Zelenskyy has repeatedly called for strengthened air defense capabilities, including increased assistance from Ukraine's Western allies. In a video address that evening, Zelenskyy stated, "The Air Force will adopt new methods of air defense operations, involving mobile fire teams, drone interception, and other 'short-range' air defense equipment." "The entire system will be revolutionized." Zelenskyy announced the appointment of Pavlo Yelizarov as the new Deputy Commander of the Air Force, responsible for overseeing and developing this innovation.

Market news: Ukrainian President Zelenskyy announced the launch of a new air defense system.

The UK government stated that the relevant proposals will be advanced in close cooperation with the Competition and Markets Authority (CMA), and that the CMA's independent decision-making role will not be altered.

The UK government: The consultations include a proposal to amend the Competition and Markets Authority's decision-making process in mergers and acquisitions and market investigations.

The UK government has launched consultations on proposals to improve the UK's competition regulation system, making it "faster, more predictable, and more proportionate."

On January 20th, it was learned from the Guangzhou Institute of Geochemistry, Chinese Academy of Sciences, that a research team from the institute recently used in-situ liquid-phase transmission electron microscopy to reveal for the first time the dynamic process of gold nanoparticle formation on the surface of pyrite at the nanoscale, and proposed a new mechanism for pyrite-induced gold precipitation. The study found a special "dense liquid layer" at the pyrite-water interface, which acts like a "nanofactaneous factory," effectively catalyzing gold nucleation, growth, and enrichment even in fluids with extremely low gold concentrations (only a few parts per billion), providing a completely new perspective for understanding the genesis of gold deposits. The relevant findings were published on January 20th in the international academic journal *Proceedings of the National Academy of Sciences of the United States of America*.

Syrian Presidential Palace: Syrian President El Shaarawy and US President Donald Trump discussed the latest developments in Syria in a phone call, and agreed to continue cooperation in the fight against ISIS. Shaarawy and Trump emphasized the need to uphold the rights of the Kurdish people within the framework of the Syrian state.

S&P Global Ratings: Middle Eastern sovereign states and banks remain resilient.

European Commission President Ursula von der Leyen: In Davos, I met with bipartisan delegations from the US Congress. We discussed joint efforts to achieve a just and lasting peace in Ukraine.

EU High Representative for Foreign Affairs and Security Policy Karas: The ceasefire between the Syrian interim government and the Syrian Democratic Forces is a key step in preventing the country from falling into turmoil again.

U.S. State Department: U.S. Secretary of State Marco Rubio spoke by phone with the Saudi Foreign Minister on Monday to discuss Iran.

On January 20th, economists warned that the UK faces the risk of recession if President Trump swiftly implements his latest tariff threats. According to Capital Economics, if the new tariffs threatened by the US president are quickly imposed on top of the existing 10% import tax in the UK, UK GDP will decline by 0.3% to 0.75%. According to the World Bank's assessment of UK economic growth, if Trump raises tariffs to 25% from June, the UK economy could suffer a £21.6 billion blow. Paul Dales, Chief UK Economist at Capital Economics, stated, "Currently, the UK economy is growing at only 0.2% to 0.3% per quarter; if the shock arrives all at once, it could trigger a recession."

Hang Seng Index futures closed up 0.20% at 26,640 points in overnight trading, a premium of 76 points.

Eurogroup President Pierracakis: The Eurogroup did not discuss the Greenland issue; Greenland's sovereignty must be respected.

The Central Bank of Peru said it bought $261 million in the spot market.

Fitch Ratings: Exports to key frontier markets in Europe continue to recover.

Fitch Ratings: The threat of U.S. tariffs on Greenland has exacerbated geopolitical risks in Europe.