Foley Foundation: Binance employee denied bail 'despite meeting conditions for bail,' deteriorating health
The James W. Foley Legacy Foundation has reported that Nigerian authorities have denied bail to Binance employee Tigran Gambaryan, a former U.S. federal agent, despite his eligibility for bail and deteriorating health conditions. The Foundation shared this information in an October 11 post on X.
World Bank calls for increased investment as Pacific growth slows
The World Bank has released its latest Pacific Economic Update, urging a significant increase in investment to counteract the region's slowing economic growth. The report, titled "Diminishing Growth amid Global Uncertainty: Ramping Up Investment in the Pacific," emphasizes the necessity for targeted investments to generate jobs, enhance infrastructure, and build resilience against climate change amidst global uncertainties. These measures are seen as vital for improving the livelihoods of Pacific communities and reducing the income disparity with wealthier nations.
Gabon focuses on sustainable forestry amid economic challenges
Between 2022 and 2023, Gabon's economic growth declined from 3.0% to 2.4%. The country's oil and agricultural sectors remained robust, but global demand fluctuations, increased fuel costs, and weather-induced railway damages adversely impacted wood and manganese production. Although the trade surplus was substantial in 2023, it was influenced by declining oil prices and weaker performance in wood and manganese exports.
Economics
Managing Partner at Oriza FOFs: 'We believe that China's capital market is returning to the essence of value investment'
Qing Xu, Managing Partner at Oriza FOFs, said that emerging investment opportunities are present within China's evolving economic landscape. Despite global uncertainties, Xu emphasized the country's resilience and highlighted sectors like AI, healthcare, and sustainable development as key areas for future growth.
U.S trade deficit narrows as exports rise and imports fall
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis have reported a decrease in the U.S. goods and services deficit for August 2024. The deficit stood at $70.4 billion, down from $78.9 billion in July.
U.S. Bureau reports rise in personal consumption expenditures across all states
Personal consumption expenditures (PCE) saw an increase across all 50 states and the District of Columbia in 2023, as reported by the U.S. Bureau of Economic Analysis. The changes varied, with Florida experiencing the highest increase at 8.1 percent, while Iowa had the lowest at 4.7 percent. On a national scale, current-dollar PCE rose by 6.4 percent in 2023 following a 9.8 percent rise in 2022.
U.S Bureau Economic Analysis reports slight rise personal income outlays August
Personal income in the United States increased by $50.5 billion, or 0.2 percent, in August, according to estimates released by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI), which is personal income less current taxes, rose by $34.2 billion, also a 0.2 percent increase. Personal consumption expenditures (PCE) grew by $47.2 billion, marking another 0.2 percent rise.
BEA reports Q2 economic data showing mixed results across US states
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the second quarter of 2024, with the percent change ranging from 5.9 percent at an annual rate in Idaho to -1.1 percent in Alaska, according to statistics released today by the U.S. Bureau of Economic Analysis.
Real Estate
Berkshire Hathaway disclosed this week that it had reached a settlement in a lawsuit with Pilot Corporation, thereby cancelling the trial that was scheduled to commence on Monday in Delaware.
American Strategic Investment Company announces changes in the board of directors
Abby Wenzel has stepped down from her position on the board of directors at the American Strategic Investment Company (ASIC), a role she held for nine years.
Ansari: 'Only about one in every 10 Chinese buyers is purchasing purely as an investment, which is a big change from the mid-2010s'
Investments made on the U.S housing market by global real estate buyers have declined as a result of rising home and mortgage prices, and the lack of available home options.
Technology
Dentsu CEO: We're no longer only an advertising company
The leader of Japan's largest marketing agency says the company will grow by consulting clients on business transformation and technology, not just traditional advertisting and public relations.
Binance announces speaker lineup for Blockchain Dubai 2024
Binance announced the initial speaker lineup for Binance Blockchain Dubai 2024, featuring prominent figures from Circle, Nansen, Dubai Future Foundation, and Wamda Capital. Additional speakers are expected to be revealed soon.
Deloitte announces AI’s impact on private equity valuations
Deloitte announced that AI is expected to significantly enhance the portfolio valuation process. This technology is anticipated to increase the frequency and efficiency of portfolio valuations.
Binance announces investment in decentralized AI platform Sahara AI
Binance announced its investment in Sahara AI, a decentralized blockchain platform, to promote an open and equitable AI economy. Sahara AI aims to ensure AI security, equity, and accessibility by prioritizing sovereignty and provenance in its collaborative approach.
Trade
China has initiated a dispute complaint against Türkiye regarding measures on vehicle imports. The measures in question include additional duties on electric vehicles, an import certificate requirement, and additional duties on other types of vehicles, as well as investment certificate exemptions. China claims these measures appear to be inconsistent with various provisions of the General Agreement on Tariffs and Trade 1994 and the Agreement on Trade-Related Investment Measures.
The World Trade Organization (WTO) has released its October 2024 update on the "Global Trade Outlook and Statistics," highlighting a 2.3% year-on-year increase in global merchandise trade for the first half of 2024. This growth follows a -1.1% decline in 2023, which was influenced by high inflation and rising interest rates. The WTO anticipates moderate expansion in trade through the rest of the year and into 2025, with world real GDP growth expected to remain steady at 2.7% during this period.
Lithuania has contributed EUR 20,000 to the World Trade Organization's Global Trust Fund, aiming to support developing economies and least developed countries (LDCs) in enhancing their trade skills. The fund finances approximately 280 activities annually, providing training at both national and regional levels in areas such as agriculture, services, and trade facilitation. Over two decades, nearly 2,800 activities have been organized under this initiative.