News from November 2023
UAW members vote on GM's labor deal at Michigan Flint Plant
By Globe Banner | Nov 11, 2023
Thomson Reuters remarks that the United Auto Workers (UAW) have recently cut it close to voting against the labor deal proposed by General Motors (GM) to end the workers' strike.
Exxon plans to start lithium production in Arkansas
By Globe Banner | Nov 11, 2023
Thomson Reuters reports that Exxon Mobil has recently announced a plan to begin electric vehicle battery metal, or lithium, production in Arkansas in 2026.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.
IMF and Ukrainian Authorities reach agreement on EFF arrangement review
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that it has achieved a staff-level agreement (SLA) with Ukraiinian authorities on a revised set of economic and financial policies for the second review of the 4-year Extended Fund Facility (EFF) Arrangement. The SLA is now pending approval by the IMF Executive Board, marking a crucial step in Ukraine's economic program, according to a press release by IMF.
Vancouver-based tech companies are reshaping vendor sourcing
By Globe Banner Report | Nov 10, 2023
Olive, a tech evaluation program, and Procurify, a spend management software, are partnering to offer a new solution for streamlining vendor sourcing, selection, and procurement processes for businesses worldwide. Through the partnership, the companies aim to simplify the vendor selection process for IT managers.
Ahbap founder: Binance's donation for earthquake recovery shows how 'crypto can be harnessed for good'
By Globe Banner | Nov 10, 2023
Haluk Levent, founder of the Turkish nonprofit Ahbap, said Binance's donation will help support his organization's efforts to rebuild homes that were destroyed by the recent earthquake and also demonstrates how cryptocurrency and blockchain can support humanitarian efforts. Binance, the largest crypto exchange in the world, recently announced a crypto donation of $100,000 to help Ahbap construct earthquake-resistant steel homes in Turkey.
Binance TR receives certifications for information security governance, privacy management
By Globe Banner | Nov 9, 2023
Binance TR, the leading crypto asset service provider in Turkey, has been awarded the ISO 27001 and ISO 27701 certifications. The certifications are for information security governance and privacy information management, echoing regulatory milestones that Binance achieved in France, Bahrain, and the United Arab Emirates earlier this year.
BusinessEurope Comments on EU Parliament Plenary Vote on EU Data Act
By Globe Banner | Nov 9, 2023
BusinessEurope Director General Markus J. Beyrer has commented on today's EU Parliament Plenary vote on the EU Data Act, emphasizing the importance of assessing its impact on the EU's global competitiveness. Beyrer stated, "Making data flows easier in Europe is a necessary step, but it will be key to assess the Data Act’s impact on the EU’s global competitiveness."Expressing the concerns of the European business community, Beyrer highlighted the need to prevent a chilling effect on data innovation investments in the EU. He stated, "The number one concern of the European...
US allocates $600,000 for developing economies' trade capacity-building
By Globe Banner | Nov 8, 2023
The World Trade Organization (WTO) has disclosed that the United States will provide a financial contribution of USD 600,000 (approximately CHF 535,000) in 2023 to the WTO's Global Trust Fund. This fund is designated to support training programs aimed at government officials from developing economies and least-developed countries (LDCs), according to a press release by WTO.
BusinessEurope Economic Outlook Reveals Significant Drop in European Business Sentiment
By Globe Banner | Nov 8, 2023
BusinessEurope Director General Markus J. Beyrer, upon the release of BusinessEurope’s Economic Outlook, expressed concerns about the current state of the European economy. Beyrer noted, "The European economy continued to grow even more sluggishly in the first half of 2023 as businesses were faced with the impact of higher interest rates, a slowing global economy, and increasing long-term competitiveness challenges." He highlighted that factors such as higher interest rates and increased credit standards have hindered investment and consumer spending, leading to a more...
On Tuesday, oil prices fell over 4%, marking their lowest point since July
By Globe Banner | Nov 7, 2023
Thomson Reuters reported the falling oil prices and weak demand within the oil market, as the dollar strengthens.
WTO says prompt food market information is a key to solving agriculture crises
By Globe Banner | Nov 7, 2023
The Agriculture Market Information System (AMIS) Global Food Market Information Group at WTO discussed the importance of timely food market information in solving multiple challenges in the food market, such as climate change, conflict, and other challenges.
The global 3D printing in education market rises to $305.2 billion in 2022
By Globe Banner | Nov 7, 2023
Ireland Research And Markets released a market report covering the global 3D printing in education market and highlighting the significant growth estimated. This market is predicted to reach $563.04 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 10.90% during the period 2023 to 2028.
Leading crypto exchange presents ‘case studies on tackling money laundering’ for Brazilian law enforcement
By Globe Banner | Nov 7, 2023
Binance, the largest cryptocurrency exchange in the world, recently participated in the first State Financial Intelligence Workshop hosted by law enforcement in Brazil. The workshop aimed to provide law enforcement officials with insights and strategies to tackle money laundering in the crypto space. Binance, which launched its law enforcement training program in September 2022, has been actively involved in training sessions and sharing best practices with law enforcement agencies worldwide.
The image recognition market is expected to grow rapidly, boasting a CAGR of 18.53%
By Globe Banner | Nov 5, 2023
The image recognition market is anticipated to experience substantial growth, expected to increase by $59.81 billion from 2022 to 2027, according to a report released by Technavio. "The image recognition market is expected to grow rapidly," the company said.
EXCLUSIVE: Satellite photos show Pakistan terrorist attack caused limited damage
By Special to the Globe Banner | Nov 4, 2023
An Islamist terrorist attack on a Pakistani air force training base caused limited damage to two aircraft hangers, and no aircraft or military vehicles were damaged. That's according to satellite photos of Mianwal Air Force Base taken Saturday by Umbra Lab, obtained and analyzed by the Globe Banner.
U.K. Financial Conduct Authority approves PayPal as crypto service provider
By Globe Banner | Nov 3, 2023
The U.K’s Financial Conduct Authority (FCA) has approved PayPal as an authorized cryptocurrency service provider, according to a recent announcement. This approval allows PayPal to offer cryptocurrency services to its customers in the U.K. and further solidifies the company's position in the crypto market.
Leading crypto exchange applauds G20’s adoption of IMF’s proposed regulations
By Globe Banner | Nov 1, 2023
During a recent G20 Finance Ministers and Central Bank Governors meeting in Morocco, the intergovernmental forum unanimously agreed to adopt the regulatory roadmap for digital assets that was proposed by the International Monetary Fund (IMF) and Financial Stability Board (FSB). Binance, the largest cryptocurrency exchange in the world, has commended the G20 for choosing to adopt the regulations, saying that a coordinated global approach will increase utility, innovation, and consumer trust.