News from April 2024
Trade Policy Review: Morocco
By Globe Banner | Apr 22, 2024
The World Trade Organization (WTO) conducted a Trade Policy Review of Morocco, with the discussions focusing on various reports and documents. The Secretariat report, prepared independently by the WTO Secretariat, provided a detailed analysis of Morocco's trade policies. In addition, the Government report, which presented a policy statement from the Moroccan government, was also a key document in the review process.According to the WTO's procedures, the Secretariat and Government reports were thoroughly examined and deliberated upon by the WTO's full membership in the...
International Monetary Fund selects Kristalena Georgieva for a second term as Managing Director
By Globe Banner | Apr 18, 2024
The International Monetary Fund's (IMF) Executive Board announced last week that Kristalena Georgieva has been selected to serve a second term as IMF Managing Director. Georgieva's second term will commence in October and span five years.
NCUA Board Approves Advance Notice of Proposed Rulemaking on Records Retention
By Globe Banner | Apr 18, 2024
The National Credit Union Administration Board recently convened for its third open meeting of 2024 and unanimously passed an advance notice of proposed rulemaking focused on enhancing the agency's records preservation program regulations. Chairman Todd M. Harper emphasized the importance of credit unions maintaining robust records preservation programs, stating, "Maintaining vital records is central to a credit union’s ability to properly serve its members and to the NCUA’s ability to fulfill its supervisory, enforcement, and liquidation functions."Part 749 of the NCUA's...
Why India Could Soon Dethrone China as World’s Top Consumer Market
By Globe Banner | Apr 17, 2024
India's rapid growth in consumerism is positioning it to potentially surpass China as the world's top consumer market. According to a recent analysis, "The speed of India’s rise in consumerism is outpacing China’s as the gap between the two countries’ markets continues to narrow."To retain its position as the leading consumer market globally, China is advised to adapt its strategies. The need to broaden its focus to include rural areas and cater to often-overlooked consumer bases is emphasized, as stated, "If it wants to maintain its lead as the world’s top market, China...
Letta Report: A significant call for a reboot of the EU Single Market
By Globe Banner | Apr 17, 2024
BusinessEurope welcomes today’s publication of Enrico Letta’s report on the future of the EU Single Market, with Director General Markus J. Beyrer commenting that "We very much agree with the key message of the Letta report: it is time to reboot the EU Single Market for today’s “large world”. This should be driven by the fundamentals of the four freedoms of the Single Market, keeping a strong focus on free trade and openness."Mr Letta rightly draws attention to the worrying trend of companies and investment leaving the European Union due to an overly complex and...
Cato Institute financial expert on Nigeria's detention of Binance employees: 'It’s likely many companies are becoming increasingly hesitant from doing business' in Nigeria
By Globe Banner | Apr 15, 2024
Nicholas Anthony, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, has expressed concern over the Nigerian government's approach towards the cryptocurrency industry. This includes the detention of two Binance employees, which Anthony believes could lead to an increasing hesitance among companies to conduct business in Nigeria. These comments were made in a commentary on the Cato Institute's website on April 11.
Citi announces addition of Fiducian Group to client portfolio
By Globe Banner | Apr 10, 2024
Citi has recently added Fiducian Group to its client portfolio, signifying the integration of a distinguished Australian-owned financial services organization. Fiducian, an Australian-owned specialist in financial services, oversees approximately AUD$13.1 billion in funds across management, administration, and advisory services.
WiPro Names New Chief Executive Officer for Americas 1 Strategic Market Unit
By Globe Banner | Apr 10, 2024
Malay Joshi has been appointed as the Chief Executive Officer for Americas 1 Strategic Market Unit at Wipro Limited. He assumes the position with immediate effect, succeeding Srini Pallia, who was recently appointed as CEO and Managing Director earlier this month.
EU Elections: BusinessEurope Calls for Reboot to Enhance European Competitiveness
By Globe Banner | Apr 9, 2024
BusinessEurope has launched its campaign for policy changes for the next EU political cycle, under the motto ‘Reboot Europe’. Commenting on the necessary actions for Europe in the upcoming years, BusinessEurope President Fredrik Persson emphasized the importance of competitiveness, stating, "Faced with multiple geopolitical risks and economic uncertainty, the EU must put competitiveness at the forefront and use the next EU cycle to reboot its policies for today’s challenges."Persson highlighted the need for the EU to focus on improving its attractiveness as an investment...
Binance Turkey marketing director: 'We support women in evaluating new opportunities in their journey towards financial freedom'
By Globe Banner | Apr 9, 2024
Harika Eldoğan, the Marketing Director of Binance Turkey, has stated that Binance is working diligently to "expand the crypto ecosystem in Turkey" and bolster women's education and development within the industry. This statement was made public in an April 5 post on Binance's website.
Citi announces social trade loans in Dominican Republic
By Globe Banner | Apr 5, 2024
Citi has disclosed its orchestration of two loans to the Dominican Republic, aimed at bolstering local trade and working capital ventures. These loans are part of Citi's Social Finance initiative and have been extended to Banco Popular Dominicano and Banco Santa Cruz. The transactions mark Citi's inaugural foray into providing Social Trade loans for small and medium enterprises (SMEs) within the region.
Binance: Employee detained in Nigeria 'is a strict law enforcement professional and is not part of Binance management'
By Globe Banner | Apr 5, 2024
Binance, the world's largest cryptocurrency exchange by trading volume, has stated that Tigran Gambaryan, the head of the company's financial crime compliance team, should not be "held responsible while current discussions are ongoing between Binance and Nigerian government officials." This statement was shared in an April 3 post on the company's website.
Inca Intelligence: 'Binance markets are generally very healthy'
By Globe Banner | Apr 4, 2024
Inca Intelligence, a division of the digital asset intelligence firm Inca Digital, has announced the completion of an investigation into Binance. The study found that the cryptocurrency exchange's markets are "generally very healthy," with its report revealing "minimal signs of anomalous trading activities." The findings were shared in a post on X on March 18.
NCUA Opening 2024 CDRLF Grant Round May 1
By Globe Banner | Apr 3, 2024
The National Credit Union Administration (NCUA) has announced the opening of the 2024 Community Development Revolving Loan Fund (CDRLF) grant round, with more than $3.4 million available for low-income-designated credit unions. The application period for these grants will run from May 1 to July 1.NCUA Chairman Todd M. Harper emphasized the importance of these grants, stating, "These grants give eligible credit unions the resources needed to support the financial needs of their members and communities. They create new, safe, fair, and affordable financial products and...