News from August 2024
WTO opens applications for course on services aspects of e-commerce
By Globe Banner | Aug 21, 2024
Applications are now open for a World Trade Organization (WTO) course focusing on the services aspects of e-commerce. The course aims to familiarize participants with the connections between e-commerce, services trade, and the disciplines outlined in the WTO's General Agreement on Trade in Services. It will place particular emphasis on specific service sectors and include discussions on the moratorium on e-commerce and other related topics within the WTO framework.
Report highlights challenges faced by refugees and host communities in Kenya
By Globe Banner | Aug 21, 2024
Nairobi, August 21, 2024 – Kenya has made significant progress in developing a policy framework aimed at refugee and host community self-reliance, but challenges remain in accessing services and improving welfare. This is according to a new report titled "Building Evidence to Enhance the Welfare of Refugees and Host Communities in Kenya," which underscores the urgency of addressing immediate, mid-term, and long-term needs of both groups.
Comoros becomes World Trade Organization’s newest member
By Globe Banner | Aug 21, 2024
The 30-day countdown to Comoros's WTO membership was activated when Ambassador Sultan Chouzour handed Comoros's instrument of acceptance of the Protocol of Accession to WTO Director-General Ngozi Okonjo-Iweala at a meeting of the General Council on July 22, 2024.
World Bank raises $6.5 Billion in record-breaking sustainable development bond issuance
By Globe Banner | Aug 20, 2024
The World Bank has raised USD 6.5 billion through a dual-tranche Sustainable Development Bond transaction, marking its largest order book to date. The transaction included a USD 3 billion 2-year bond maturing in August 2026 and a USD 3.5 billion 10-year bond maturing in August 2034.
World bank mobilizes €2.5 billion for sustainable development from globally diversified investors
By Globe Banner | Aug 20, 2024
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has priced a EUR 2.5 billion 7-year euro-denominated benchmark bond maturing in August 2031. The transaction attracted over 75 orders totaling almost EUR 4 billion from European and global investors seeking safe and liquid investment opportunities with a positive impact on sustainable development.
World Bank issues $225M Amazon reforestation-linked outcome bond
By Globe Banner | Aug 20, 2024
The World Bank (International Bank for Reconstruction and Development, IBRD) has issued the Amazon Reforestation-Linked Outcome Bond, a USD 225 million bond aimed at supporting reforestation activities in the Amazon. Priced on August 13, 2024, and due July 31, 2033, this nine-year bond links investors’ financial returns to measurable development outcomes.
World Bank to advise Bulgaria on roads infrastructure development
By Globe Banner | Aug 20, 2024
The Bulgarian Road Infrastructure Agency (BRIA) will receive strategic advice from the World Bank over the next 30 months through a Reimbursable Advisory Services Agreement. The agreement was signed today by Yordan Valchev, Chairman of BRIA’s Management Board, and Lasse Melgaard, World Bank Resident Representative for Bulgaria, Czechia, and Slovakia.
CAIA Association partners with Toigo Foundation to provide training to Toigo fellows
By Globe Banner | Aug 19, 2024
The Chartered Alternative Investment Analyst (CAIA) Association has launched a strategic partnership with the Toigo Foundation, a nonprofit dedicated to fostering diversity in finance and access to talent. The collaboration will provide training to Toigo fellows.
Preqin webinar spotlights APAC deal making and fundraising trends
By Globe Banner | Aug 19, 2024
Fundraising and deal-making in the Asia-Pacific (APAC) region continue to decline in 2024 as investors remain hesitant. However, a recent webinar hosted by Preqin highlighted three favorable trends.
WTO announces last chance to register for 2024 Public Forum
By Globe Banner | Aug 19, 2024
The 2024 Public Forum, themed “Re-globalization: Better Trade for a Better World,” will be held in person at the WTO headquarters in Geneva. The event requires all participants to complete an online registration form.
IDB joins forces with World Bank & CAF for security policies
By Globe Banner | Aug 19, 2024
Guayaquil, August 19, 2024. The Inter-American Development Bank (IDB), the World Bank, and CAF—development bank of Latin America and the Caribbean—have agreed to collaborate more closely to generate knowledge and support public policies related to transnational organized crime in Latin America and the Caribbean.
World Bank approves $10 million wastewater project in Sint Maarten
By Globe Banner | Aug 19, 2024
Washington, D.C., August 19, 2024 - The Government of Sint Maarten, the National Recovery Program Bureau, and the World Bank have signed a $10 million agreement aimed at improving water quality and quantity in Sint Maarten. An additional $15 million will be financed by the Government of Sint Maarten through a co-financing loan from the Government of the Netherlands.
Binance announces investment in decentralized AI platform Sahara AI
By Globe Banner | Aug 17, 2024
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.
Binance announces 19th global regulatory milestone with India registration
By Globe Banner | Aug 17, 2024
Binance announced its registration as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), marking its 19th regulatory milestone globally. The company complies with anti-money laundering standards in India and other operating jurisdictions.
Bchain Africa CEO on detention of Binance employee: 'Are we running a military system in Nigeria under the guise of democracy?'
By Globe Banner | Aug 16, 2024
Femi Adegolu, the founder and CEO of Bchain Africa, stated that the Nigerian government has detained Tigran Gambaryan, the head of financial crime compliance at the crypto exchange Binance, with "impunity" for more than 150 days. Adegolu shared his statement in an Aug. 13 post on X.
Bangladesh integrates Japanese expertise to enhance flood resilience
By Globe Banner | Aug 16, 2024
Bangladesh, recognized as one of the most vulnerable countries to climate change and among the most disaster-prone, is experiencing an increasing number of people affected by frequent and intense floods. These events disproportionately impact the poorest populations, causing significant damage to property and livelihoods while disrupting children's education.
OAS adopts resolution urging transparency in Venezuelan elections
By Globe Banner | Aug 16, 2024
The Organization of American States (OAS) has adopted a resolution addressing the recent situation in Venezuela.
Eritrea Festival 2024 celebrates cultural diversity with opening ceremony
By Globe Banner | Aug 15, 2024
Chargé d’affaires a.i. Leslie Freriksen attended the opening ceremony of Eritrea Festival 2024.
Starbucks announces Brian Niccol as new CEO
By Globe Banner | Aug 14, 2024
Starbucks announced that Brian Niccol will become chairman and chief executive officer starting September 9, 2024, while Rachel Ruggeri will serve as interim CEO until then. Additionally, Mellody Hobson will transition from board chair to lead independent director.
Junior analyst aids $100M bond initiative targeting plastic pollution
By Globe Banner | Aug 14, 2024
Federico, a Junior Analyst at the World Bank, shared insights into his background and involvement in tackling plastic pollution through innovative financial instruments. Born in Italy, Federico studied economics and finance at Bocconi University before interning at the World Bank Treasury. He later joined the Structured Finance and Market Solutions Team within the Capital Markets Department.