News published on Globe Banner in August 2024

Binance Head of Regional Markets Vishal Sacheendran said regulating blockchain technology in industries beyond finance can "revolutionize" those industries. Sacheendran shared his statement in an Aug. 13 commentary on Binance's website.

China files WTO complaint over EU subsidy duties on electric vehicles

China has initiated a dispute complaint with the World Trade Organization (WTO) regarding the European Union's subsidy duties on electric vehicles. According to China, the measures appear inconsistent with Article VI of the General Agreement on Tariffs and Trade 1994 and various provisions of the WTO's Agreement on Subsidies and Countervailing Measures.

World Bank addresses inaccuracies in media reports about Iran Economic Monitor

Media reports have recently made false claims about a World Bank report on Iran’s economy.

US supports preservation of Turkmenistan's cultural heritage

The United States is actively participating in efforts to preserve Turkmenistan's cultural heritage, a move that underscores respect for the country's diverse history and unique identity.

World Bank reports gradual recovery for Congolese economy amid ongoing challenges

BRAZZAVILLE, August 13, 2024 – A new World Bank report released today indicates that the Congolese economy is gradually recovering, with GDP growth estimated at 1.9% in 2023. Growth is projected to reach 3.5% in 2024, supported by oil and non-oil activities expected to increase by 4.2% and 3.5%, respectively. The recovery remains fragile due primarily to the volatility of oil production.

Investors back record-breaking $225 million World Bank outcome bond for Amazon reforestation

An increasing number of private investors are supporting outcome bonds that link financial returns to measurable and impactful development outcomes. The World Bank (International Bank for Reconstruction and Development, IBRD) has priced a 9-year USD 225 million principal-protected Amazon Reforestation-Linked Bond, marking the largest World Bank outcome bond ever issued. This bond offers investors a coupon with both a fixed guaranteed component and a variable component tied to the generation of Carbon Removal Units (CRUs) from reforestation projects in Brazil's Amazon rainforest.

New model aims at accelerating Amazon reforestation efforts

Investing in forests is investing in people, economies, and the health of our planet. The World Bank estimates that the Amazon rainforest regions of Brazil provide USD 317 billion of economic value annually for the communities that live there. The Amazon also benefits the world as a whole, representing more than half of the planet’s remaining tropical forest and serving as one of the world’s largest carbon sinks. The Brazilian regions alone provide a theoretical annual value of USD 210 billion to the planet. While deforestation in the Brazilian Amazon has slowed in recent...

U.S. Embassy issues advisory on upcoming protests in Bratislava

The U.S. Embassy has issued an advisory for protests scheduled in Bratislava on August 12 and 13.

National Consumers League CEO: 'We want Starbucks to stop sourcing from plantations and farms that exploit workers'

By Donna Rolando | Aug 12, 2024

The National Consumers League has filed a lawsuit against the global Starbucks for deceptive advertising, calling its claim of 100-percent ethical sourcing of coffee and tea products a well-circulated lie.

World Bank launches council to tackle global jobs crisis

The World Bank Group today announced the launch of the High-Level Advisory Council on Jobs, a new initiative aimed at identifying actionable policies and programs to address the looming jobs crisis in the Global South.

US Embassy in Turkmenistan announces upcoming CCTV installation solicitation

The Embassy of the United States in Turkmenistan has announced a pre-solicitation notice for the installation and service of CCTV systems in a warehouse.

Leaders urge immediate action on Gaza ceasefire and hostage release

The leaders of the United States, Egypt, and Qatar have issued a joint statement urging immediate action to bring relief to the people of Gaza and to secure the release of hostages.

Binance recovers more than $73M in user funds from external hacks