Globe Banner News
Binance announces cooperation with India ED in Fiewin app scam investigation
By Globe Banner | Sep 28, 2024
Binance announced that India's Enforcement Directorate (ED) has arrested four individuals connected to the Fiewin gaming app scam. The investigation revealed links to digital wallets, with Binance's Financial Intelligence Unit (FIU) providing significant assistance.
Romania publishes roadmap for developing offshore wind industry
By Globe Banner | Sep 27, 2024
The European Commission and the World Bank Group have collaborated with the Government of Romania to publish a new roadmap aimed at developing offshore wind energy in the Black Sea. The document, part of the project 'Internal energy market and energy transition in Romania,' received technical support from the European Commission’s Directorate General for Structural Reform Support (DG REFORM). The initiative was funded by the European Union through the Technical Support Instrument and implemented by the World Bank and International Finance Corporation (IFC), alongside DG...
U.S Bureau Economic Analysis reports slight rise personal income outlays August
By Globe Banner | Sep 27, 2024
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
By Globe Banner | Sep 27, 2024
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.
World Bank grants $30 million to support Zambian refugee policy
By Globe Banner | Sep 27, 2024
The World Bank has approved a new grant to help Zambia improve socio-economic opportunities for refugees and their host communities. The $30 million Zambia Refugee and Host Communities Project will focus on legislative reforms supporting the Government of Zambia’s 2023 Refugee Policy and invest in social and economic activities within the Meheba refugee settlement.
WTO holds workshop to improve compliance with import licensing
By Globe Banner | Sep 27, 2024
The World Trade Organization (WTO) recently held a workshop aimed at enhancing capacity on import licensing and notifications. In her opening remarks, Ms. Tyesha Turner, Chairperson of the Committee on Import Licensing, emphasized the importance of transparency within the multilateral trading system. She noted that import licensing has been on the global trade agenda since the 1970s and became part of the WTO's multilateral agreements after the Uruguay Round.
Starbucks stock downgraded due to uncertainty on operational improvements
By Globe Banner | Sep 26, 2024
Starbucks Corp., a global leader in the coffeehouse industry, has encountered a recent stock downgrade by analysts due to ongoing challenges. Highlighted issues include concerns over operations, organizational culture, and value perception.
Uruguay's Ceibal initiative highlights benefits of tech in education
By Globe Banner | Sep 26, 2024
Ceibal, Uruguay’s digital education initiative, offers valuable lessons for countries seeking to leverage technology for improved learning outcomes and educational equity. This brief explores Ceibal's journey from its initial goal of providing laptops to every student and teacher to its evolution into a comprehensive platform for educational innovation.
World Bank Group expands partnership with IFRS Foundation on sustainability standards
By Globe Banner | Sep 26, 2024
The World Bank Group and the IFRS Foundation have announced their commitment to expand their partnership towards adopting sustainability standards in emerging markets and developing economies (EMDEs). This announcement was made during New York Climate Week.
BEA reports U.S GDP growth at annual rate of three percent for second quarter
By Globe Banner | Sep 26, 2024
The U.S. Bureau of Economic Analysis (BEA) has released its third estimate for the second quarter of 2024, showing a 3.0 percent annual increase in real gross domestic product (GDP). This follows a revised 1.6 percent increase in the first quarter.
World Bank supports Serbia with EUR 25 million for innovation growth
By Globe Banner | Sep 26, 2024
Serbia is set to enhance its international competitiveness and accelerate economic growth by strengthening the links between scientists and innovators, supporting artificial intelligence (AI) solutions and biotechnology, and mobilizing private capital. The World Bank has approved EUR 25 million in additional financing through the Serbia Accelerating Innovation and Growth Entrepreneurship (SAIGE) Project to support these efforts.
World Bank continues extensive support efforts for Afghan people
By Globe Banner | Sep 26, 2024
The World Bank Group has provided over $1.7 billion in support to the Afghan people since August 2021, focusing on service delivery for women and girls. The funds are managed outside the control of the Interim Taliban Administration (ITA).
Azerbaijan progresses towards WTO membership
By Globe Banner | Sep 26, 2024
Samad Bashirli, Deputy Minister of Economy and newly appointed WTO Chief Negotiator, led Azerbaijan's high-level delegation to Geneva for the Working Party meeting. This meeting occurred 14 months after the previous one in July 2023, which marked the resumption of accession negotiations following a six-year gap. The delegation included Azerbaijan's Ambassador to the WTO, Galib Israfilov, senior government officials, and experts from various ministries and agencies.
World Bank highlights economic benefits of nature-based tourism
By Globe Banner | Sep 26, 2024
Nature-based tourism is emerging as a significant driver for economic development and biodiversity conservation, according to recent findings. In areas rich in natural assets but with limited economic opportunities, nature-based tourism can create jobs and diversify rural economies. The spending by tourists on activities, transportation, food, and accommodation benefits local communities by generating jobs and income. This ripple effect extends to both poor and non-poor households.
International bodies update WTO Committee on global food security challenges
By Globe Banner | Sep 26, 2024
The Chair of the Committee, Ms. Anna Leung of Hong Kong, China, facilitated discussions on various farm policies and food security measures.
UN agencies collaborate with EU & World Bank Group against gender-based violence
By Globe Banner | Sep 26, 2024
The United Nations, European Commission, and World Bank Group have announced a joint commitment to prioritize gender equality and the eradication of violence against women and girls as part of their cooperation efforts. This initiative aligns with the 2030 Agenda for Sustainable Development.
World Bank debars three Indian IT firms over collusive practices
By Globe Banner | Sep 26, 2024
The World Bank Group has announced the 15-month debarment of three India-based IT companies—Venus Softwares, Venus IT Solutions Private Limited, and Zytron Systems. This action is in response to collusive practices related to the West Bengal Institutional Strengthening of Gram Panchayats Program II in India.
Governments urge increased investment in Latin American education at UN summit
By Globe Banner | Sep 26, 2024
On the sidelines of the 79th session of the United Nations General Assembly and the Summit of the Future, governments and multilateral organizations have called for increased financing for education in Latin America and the Caribbean. The Dominican Republic and Chile, supported by UNICEF, UNESCO, ECLAC, IDB, World Bank, CAF, OEI, CLADE, and Varkey Foundation, emphasized education as crucial for achieving Sustainable Development Goal 4.
World Bank approves $1.57 billion funding package for Nigeria
By Globe Banner | Sep 26, 2024
The World Bank has approved three operations totaling $1.57 billion to aid Nigeria in enhancing health outcomes, dam safety, and irrigation services. The financing includes $500 million for the HOPE-GOV program, $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC), and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
Apollo, Atlas SP Partners, and BNP Paribas announce $5 billion collaboration
By Globe Banner | Sep 26, 2024
Apollo Global Management, Atlas SP Partners, and BNP Paribas have announced a strategic collaboration focusing on financing and capital markets. This partnership involves a commitment of $5 billion to support their joint initiatives.