News from July 2024
WTO at crossroads: addressing climate change through sustainable trade policies
By Globe Banner | Jul 4, 2024
On July 4, 2024, the Honourable Minister, Excellencies, and distinguished guests gathered to discuss a pivotal moment in the nexus of trade and climate at the World Trade Organization (WTO). Deputy Director-General Paugam addressed the assembly, emphasizing that "we need to accelerate our efforts in leveraging trade policy for sustainable development."
WTO members renew focus on services trade following ministerial conference
By Globe Banner | Jul 4, 2024
WTO members have expressed a renewed commitment to advancing discussions on services trade, following the mandate from the 13th Ministerial Conference (MC13) held in February 2024. The Services Council, alongside other WTO bodies, has been tasked with addressing WTO reform, short-term challenges related to global and domestic crises, and responses to pandemics.
Goods Council reviews future work plans amid new trade concerns
By Globe Banner | Jul 4, 2024
The Chair of the Council for Trade in Goods (CTG), Ambassador Clare Kelly of New Zealand, reported on her bilateral conversations with over 20 delegations and group coordinators. These discussions focused on the Council's functioning, recent improvements, and future expectations. According to Ambassador Kelly, members expressed satisfaction with the significant reforms implemented by the CTG over the past two years. Notably, the introduction of digital tools such as the e-agenda and annotated agenda has enhanced access to information and facilitated meeting preparations.
Study urges swift EU action to close Europe's growing energy price gap
By Globe Banner | Jul 4, 2024
A new, in-depth study published today by BusinessEurope, developed with economic consultancy Compass Lexecon, indicates that a more competitive energy and climate transition is still possible but only if swift action is taken by EU legislators during the next EU cycle.
Lesotho's entrepreneurial growth spurred by targeted financial inclusion initiative
By Globe Banner | Jul 3, 2024
After a five-year struggle with unemployment following his tertiary education, Mosebetsi found inspiration in his name, which means ‘work’ in English. He realized he was destined to create work rather than wait for a job. In 2016, at age 27, he co-founded Iconics Clothing, a venture that gained instrumental support and guidance from the Lesotho Competitiveness and Financial Inclusion Project (CAFI).
Thailand projects steady economic recovery through private consumption tourism goods exports
By Globe Banner | Jul 3, 2024
The economy of Thailand is projected to recover in 2024, supported by sustained private consumption as well as a recovery in tourism and goods exports. Growth is expected to accelerate from 1.9 percent in 2023 to 2.4 percent in 2024, and further reach 2.8 percent in 2025, driven by both domestic and external demand. This outlook is bolstered by the revised fiscal budget proposal for fiscal year 2025 and anticipated acceleration in budget execution following significant delays earlier this year.
WTO Fish Fund Steering Committee advances efforts towards operationalization
By Globe Banner | Jul 3, 2024
The Steering Committee of the WTO Fish Fund has made significant strides towards operationalizing the Fund, according to Deputy Director-General Angela Ellard. Speaking at a recent meeting, Ellard highlighted the Committee's progress since January, emphasizing their dedication to providing support by the time of the Agreement's entry into force.
Mozambique launches nationwide free-ID campaign with support from World Bank
By Globe Banner | Jul 3, 2024
Isac, a 13-year-old boy from Homoíne district in Inhambane province, southern Mozambique, dreams of becoming a nurse. Until recently, his aspirations were hindered by the lack of a legal identity document (ID), which prevented him from enrolling in school. Instead, he spent his days collecting and selling wood for food. “If I were to get an ID today, I would go back to school and achieve my dream of becoming a nurse and healing people,” he said.
Binance, Hong Kong’s Organized Crime and Triad Bureau team up for law enforcement sharing session
By Globe Banner | Jul 2, 2024
The Organized Crime and Triad Bureau (OCTB) of the Hong Kong Police invited Binance to a sharing session on June 27, an invitation that highlights Binance’s promotion of security and compliance in digital finance. Binance made the announcement in a July 2 news release.
World Bank report highlights systemic gender inequality challenges in Croatia
By Globe Banner | Jul 2, 2024
ZAGREB, July 2, 2024 – A new World Bank analysis presented today reveals that Croatia remains among the lowest-ranked EU countries for overall gender parity. Despite adopting European Union (EU) standards in gender equality, significant systemic issues persist, resulting in notable gender gaps across six areas: work, money, knowledge, time, power, and health.
WTO reviews four key regional trade agreements enhancing global economic cooperation
By Globe Banner | Jul 2, 2024
The Committee on Regional Trade Agreements of the World Trade Organization (WTO) recently considered four significant regional trade agreements. These agreements, involving multiple countries, aim to enhance economic cooperation and liberalize trade in goods and services.
India needs more women in workforce to meet economic goals
By Globe Banner | Jul 2, 2024
If India is to successfully double the size of its economy by 2030, the only viable path is raising the number of women in the workforce.
Global goods trade sees modest growth amid price declines
By Globe Banner | Jul 2, 2024
Goods trade posts 1% growth in the first quarter of 2024 after 2023 plateau
Policy recommendations aim to tackle systemic gender inequality in Croatia
By Globe Banner | Jul 2, 2024
In Croatia, the subject of gender equality has gradually moved from the fringes to the forefront of public discourse, reflecting both global trends and local imperatives. As of 2023, Croatia was still among the lowest-ranked EU countries for overall gender equality. Although Croatia’s overall Gender Equality Index score has improved over the past decade, domain-specific scores offer a more granular view of the remaining challenges.
World Bank appoints Anna Akhalkatsi as new country director for European Union
By Globe Banner | Jul 2, 2024
Anna Akhalkatsi has been appointed as the World Bank’s new Country Director for the European Union, based in Brussels. In her new role, Ms. Akhalkatsi will lead the Bank's dialogue with EU client countries and institutions, overseeing operational and knowledge engagement with governments, stakeholders, and partners to advance their development objectives. She will work closely with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to enhance the World Bank Group’s engagement with the private sector.
Hill on former IRS agent's detention in Nigeria: 'Tigran must immediately be granted a humanitarian release'
By Donna Rolando | Jul 2, 2024
Two Congress members have gone viral with their report on X, formerly known as Twitter, of “horrible” conditions in a Nigerian prison where former IRS agent Tigran Gambaryan is being held despite U.S. requests for a humanitarian release.
Stefano Mocci appointed as new World Bank Group manager for Fiji
By Globe Banner | Jul 1, 2024
SUVA, July 1, 2024 – Stefano Mocci has been appointed as the World Bank Group Country Manager for Fiji, a role that aims to unify country-level leadership to better support the nation’s public and private sector priorities. This newly created position will provide a single point of contact for accessing the full range of World Bank Group products and services, enhancing the institution's ability to address global challenges and drive development with speed, efficiency, and impact.
Khwima Nthara assumes role as World Bank's PNG country manager
By Globe Banner | Jul 1, 2024
Port Moresby, July 1, 2024 – Starting today, Mr. Khwima Nthara becomes the World Bank Group Country Manager for Papua New Guinea (PNG), a position that will unify country-level leadership across the institution to better support PNG’s public and private sector priorities. This newly created position provides a single point of contact for access to the full breadth of World Bank Group products and services and will enhance the institution's ability to address global challenges and drive development with speed, efficiency, and impact.
World Bank appoints Jason Allford as special representative for South Korea
By Globe Banner | Jul 1, 2024
Seoul, July 1, 2024 – Jason Allford has been appointed as the World Bank Group Special Representative for the Republic of Korea. This newly created position aims to unify country-level leadership across the institution to better support Korea’s public and private sector priorities. The role provides a single point of contact for access to the full range of World Bank Group products and services, enhancing the institution's ability to address global challenges and drive development with speed, efficiency, and impact.
Zafer Mustafaoglu appointed new country director at World Bank
By Globe Banner | Jul 1, 2024
The World Bank has announced the appointment of economist Zafer Mustafaoglu as Country Director for the Philippines, Malaysia, and Brunei Darussalam, effective July 1, 2024.