News from September 2023
IMF Concluding Statement of 2023 Article IV Mission: San Marino has prospered economically
By Globe Banner | Sep 29, 2023
The International Monetary Fund's staff report in the concluding statement of the 2023 Article IV Mission reveals that San Marino has experienced economic prosperity, despite the weakening European economy as a whole. The manufacturing and tourism sectors in San Marino have even surpassed pre-COVID levels.
Saudi Arabia, undergoing an economic transformation
By Globe Banner | Sep 29, 2023
Amine Mati and Sidra Rehman, both part of the IMF’s Middle East and Central Asia Department, report an immaculate transformation in the Saudi Arabian economy, as it implements new reforms around oil dependence, income sources, and competitiveness. The IMF’s Middle East and Central Asia Department reports that "Saudi Arabia’s economy is undergoing a transformation, as it implements reforms to reduce oil dependence, diversify income sources, and enhance competitiveness. This year marks an important juncture as the midpoint of Saudi Arabia’s ambitious Vision 2030 journey."
The IMF Executive Board approves a $1.3 billion arrangement for Morocco's sustainability
By Globe Banner | Sep 29, 2023
On September 28, 2023, the International Monetary Fund's executive board approved an arrangement with Morocco that will support its movement to a more sustainable and greener economy. The arrangement amounted to SDR 1 billion (about US$ 1.32 billion, equivalent to 112 percent of quota).
France welcomes U.S. crypto companies looking for legal certainty
By David Beasley | Sep 29, 2023
As Europe implements a regulatory framework for digital assets, a French regulator has invited American crypto industry participants to come to France if they want legal certainty, CoinDesk reported.
Binance's Compliance with MiCA Law May Reshape Stablecoin Market in Europe
By Globe Banner | Sep 29, 2023
Binance France will delist stablecoins for the European market by next June if necessary to comply with standards laid out by the Markets in Crypto-Assets (MiCA) law.
IMF: 'new research finds that many countries have the potential to increase their tax-to-GDP ratios'
By Globe Banner | Sep 29, 2023
The International Monetary Fund (IMF) has released a report highlighting the potential for countries to increase their tax-to-GDP ratios, allowing for the provision of critical government services. The report states that through better tax design and stronger public institutions, many countries have the potential to increase their tax-to-GDP ratios by as much as 9 percentage points.
President of the Center for Global Development steps down at the end of the year
By Globe Banner | Sep 29, 2023
Masood Ahmed, the President of the Center for Global Development (CGD), has announced his decision to step down at the end of the year. Ahmed has been in the position for seven years and has played a crucial role in the organization's growth and impact.
Leading crypto exchange Binance files motion to dismiss SEC lawsuit
By Globe Banner Report | Sep 27, 2023
Binance, the largest crypto exchange in the world, and Changpeng Zhao (CZ), the exchange's CEO and founder, have filed a motion to dismiss the U.S. Securities and Exchange Commission's (SEC) lawsuit. Binance and CZ argued that Congress needs to legislate regulations for digital assets before the SEC can claim authority over crypto.
Crypto giant Binance sells Russian business to CommEX
By Globe Banner | Sep 26, 2023
Binance, the largest cryptocurrency exchange in the world, announced that it is exiting Russia, selling that portion of its business to CommEX. The decision to sell the entirety of the exchange's Russian business was due to the fact that "operating in Russia is not compatible with Binance's compliance strategy," according to Binance Chief Compliance Officer Noah Perlman. Binance will continue to focus on the more than 100 other countries in which it operates.
TechNavio predicts the indium tin oxide market to grow by USD 213.87 million
By Globe Banner | Sep 25, 2023
TechNavio, a market research report corporation, predicts that the indium tin oxide market will begin increasing by a CAGR of 5.24%, reaching USD 213.87 million over a forecast period of 2023-2027. Factors of this increase include a growing dependency on renewable energy.
The global very light jet market size reaches $5.3 Billion in 2022, predicted to grow to $8.2 billion by 2028
By Globe Banner | Sep 25, 2023
ResearchAndMarkets of PRNewswire reports that the global very light jet market is expected to reach $8.2 billion by 2028, growing at a compound annual growth rate of 7.45%. The market size reached $5.3 billion in 2022, indicating significant growth over the next few years.
Public debt in sub-Saharan Africa has risen to levels not seen in decades
By Globe Banner | Sep 25, 2023
With a debt crisis looming in Africa, economists of the International Monetary Fund (IMF) have outlined five key policy points that African governments could take to impede the rising public debt in sub-Saharan Africa. According to an IMF paper, public debt in the region has reached levels not seen in decades, with the average debt ratio almost doubling in just a decade.
IFR Reports Industrial Robot Installation in Japan Reaches 50,413 Units in 2022
By Globe Banner | Sep 24, 2023
According to the Industrial Federation of Robotics (IFR), the installation of industrial robots in Japan experienced a significant increase in 2022, reaching a total of 50,413 units. This represents a growth rate of 9% and surpasses the pre-pandemic level recorded in 2019, which stood at 49,908 units. Japan currently holds the second-largest market for industrial robots globally, trailing only behind China. Additionally, Japan is the leading country in terms of industrial robot manufacturing, commanding a global market share of 46%.
Bing X, Cryptocurrency Exchange Platform, Announces Support for Future Blockchain Summit, Dubai, 2023
By Globe Banner | Sep 24, 2023
BingX, a prominent international platform for cryptocurrency exchange, has announced its support and sponsorship for the Future Blockchain Summit in Dubai, scheduled to take place from October 15th to 18th, 2023. This four-day event aims to showcase and promote the advancements in Web 3.0, Blockchain, Crypto, NFT, Metaverse, and Gaming.
Plus-Sized Furniture, a Growing Trend in the Global Market, Fueled by Increasing Obesity Rates
By Globe Banner | Sep 24, 2023
Plus-Sized Furniture, a Growing Trend in the Global Market, Fueled by Increasing Obesity Rates
Leading crypto exchange Binance airdrops funds to Moroccan earthquake victims
By Globe Banner Report | Sep 22, 2023
Binance Charity, the philanthropic arm of the largest cryptocurrency exchange in the world, is airdropping up to $3 million worth of crypto to people affected by the earthquake in Morocco. A magnitude 6.8 earthquake hit the country last week, leaving several thousand people dead and impacting hundreds of thousands of residents.
The Global Manufactured Soil Market is Growing Rapidly, with North America in the Lead
By Globe Banner | Sep 20, 2023
The global manufactured soil market is experiencing rapid growth, with North America leading the way. According to a report by Research and Markets of PR Newswire, the market is projected to grow from $7.61 billion in 2022 to $8.23 billion in 2023, with an impressive compound annual growth rate (CAGR) of 8.1%. This growth is expected to continue, with the market estimated to reach $10.77 billion by 2027.
The market for Bronopol is expanding across industries, boosting demand
By Globe Banner Report | Sep 19, 2023
The global Bronopol market is expected to expand until 2028, driven by a boost in demand across numerous industries, according to a press release.
Binance founder highlights France as technologically progressive
By Globe Banner Report | Sep 18, 2023
Changpeng Zhao (CZ), the CEO and founder of Binance, the largest cryptocurrency exchange in the world, participated virtually in the Token2049 conference last week. CZ said during the conference that while smaller nations can be more progressive in terms of their openness to cryptocurrency because it can be easier for them to adopt new regulations, he highlighted France as an example of a larger country that has been open to crypto.
Binance, TRM Labs assist in arrest of Islamic State-affiliated individuals
By Globe Banner Report | Sep 5, 2023
A collaborative effort between Binance, the largest crypto exchange in the world, TRM Labs, a blockchain intelligence firm, the Financial Monitoring Department of the National Bank of Tajikistan and law enforcement agencies in Tajikistan has led to the arrest of multiple individuals associated with Islamic State – Khorasan Province (ISKP), an affiliate of the militant Islamic State group, Binance announced in an Aug. 25 blog post.