News from March 2024
IMF announces completion of reviews and augmentation for Egypt's Extended Fund Facility arrangement
By Globe Banner | Mar 30, 2024
The International Monetary Fund (IMF) has confirmed the completion of the first and second reviews of the Extended Fund Facility arrangement for Egypt. The IMF Executive Board approved an increase of the original program by approximately US$5 billion (SDR 3.76 billion).
JPMorgan Chase announces £2.5m renewal with The Careers & Enterprise Company
By Globe Banner | Mar 29, 2024
JPMorgan Chase has recently announced the renewal of its commitment to The Careers & Enterprise Company (CEC), England's national body for careers education. This renewed commitment includes an additional £2.5 million pledge to CEC, with the intention of supporting the organization and building upon insights gleaned from the program's pilot phase.
Binance announces CEO Richard Teng discussed cyber collaboration with Taiwan's High Prosecutor's Office
By Globe Banner | Mar 28, 2024
Binance, the world's largest cryptocurrency exchange, has revealed that its CEO Richard Teng recently met with Chief Prosecutor Chang, Tou-Hui of Taiwan's High Prosecutor's Office. The meeting aimed to explore potential collaboration in preventing cybercrime.
WTO announces Canada increases STDF aid with CAD 250,000
By Globe Banner | Mar 27, 2024
The World Trade Organization (WTO) has announced that Canada is contributing CAD 250,000 to the Standards and Trade Development Facility (STDF). This contribution is aimed at assisting developing economies and least-developed countries in meeting global food safety and trade standards. With this recent contribution, Canada's total support to the STDF has reached nearly CHF 7.5 million since 2005.
Chamber of Digital Commerce urges U.S. government to act on behalf of American businessman detained in Nigeria
By Globe Banner | Mar 25, 2024
The Chamber of Digital Commerce has issued an urgent appeal in a blog post titled "Urgent Call to Action: American Citizen and Crypto Sector Worker Kidnapped by Nigerian Government". The Chamber is urging President Biden to "employ every diplomatic measure to ensure" the immediate release of Binance executive Tigran Gambaryan. According to the Chamber's post, Gambaryan was invited to Nigeria under "false pretenses" and was subsequently detained without being charged with any offense.
Kimer Med signs contract with Battelle Memorial Institute for antivral drug work
By Globe Banner | Mar 22, 2024
New Zealand-based biotech firm, Kimer Med, has announced a new contract for the development of antiviral drugs. The project is financed by the U.S.-based Defense Threat Reduction Agency (DTRA).
BusinessEurope Reacts to EU Action Plan on Labour and Skills Shortages
By Globe Banner | Mar 20, 2024
BusinessEurope Director General Markus J. Beyrer expressed his organization's stance on the EU action plan on labour and skills shortages, recently unveiled by the European Commission. Beyrer welcomed the publication of the plan, emphasizing the severity of the issue by stating, "With labour and skills shortages hitting our companies and labour markets, we welcome today’s publication of the Commission action plan to address them. This challenge is structural and will be with us for the next generation."In addition to this, Beyrer highlighted the importance of addressing...
No improvement in the EU’s investment environment in 2023
By Globe Banner | Mar 20, 2024
BusinessEurope has just published our 2024 Reform Barometer, which looks at Europe’s global competitiveness performance and evaluates policy decisions.BusinessEurope President Fredrik Persson expressed, "Our key finding is that 88% of our national member federations believe that, having declined significantly between 2020 and 2023, there was no improvement in the attractiveness of the EU's investment environment vis-à-vis our major competitors over the last 12 months. Moreover, over half of our member federations (54%) believe that the regulatory burden for companies...
Asian economies urged to prioritize green initiatives for global competitiveness
By Globe Banner | Mar 19, 2024
In a changing global economic landscape, experts are emphasizing the importance of Asian economies prioritizing green initiatives to maintain their competitive edge. A recent article highlighted the necessity for countries like Bangladesh and Cambodia to adapt to new cross-border environmental regulations or face potential repercussions in global trade.According to the article, one of the speakers noted, "Increasingly, new cross-border environmental regulations like the EU’s carbon tax will leave countries such as Bangladesh and Cambodia little choice but to play catch up...
WTO announces Russia's acceptance of Fisheries Subsidies Agreement
By Globe Banner | Mar 18, 2024
The World Trade Organization (WTO) has declared that the Russian Federation has officially accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Russia was presented by Ambassador Nikolai Platonov to Director-General Ngozi Okonjo-Iweala, increasing the total number of WTO members who have accepted the agreement to 72.
Anil Goel joins Nielsen as chief engineering officer
By Globe Banner | Mar 18, 2024
Anil Goel has been appointed to lead the technology and engineering teams at Nielsen, with a particular focus on the adoption of automation and artificial intelligence. Operating from Bengaluru, India, Goel will report directly to Karthik Rao, the company's chief executive.
Porcelain from Dehua brings people together at the United Nations headquarters
By Globe Banner | Mar 18, 2024
Representatives from Fujian Province, the United Nations, and other countries convened at the United Nations Headquarters for the unveiling of the "Blanc de Chine – Porcelain from Dehua" event last week. This initiative was launched by Xinhua News Agency.
China UnionPay launches “Project Excellence 2024”
By Globe Banner | Mar 16, 2024
UnionPay International announced that China UnionPay has launched "Explore China Your Way with UnionPay: China UnionPay Payment Service Optimization - Project Excellence 2024." The launch ceremony was held in Shanghai.
Agreement on EU due diligence: still far from a workable solution
By Globe Banner | Mar 15, 2024
Reacting to the EU Corporate Sustainability Due Diligence Directive agreement, BusinessEurope Director General Markus J. Beyrer expressed concerns about the implications of the new rules. Beyrer stated, "The new due diligence rules will add unparalleled obligations, set harsh sanctions with potential existential implications for companies, and unilaterally expose them to litigation from all parts of the world." He highlighted the negative impact on SMEs, noting that they "will be negatively affected as they make up the largest part of value chains."Furthermore, Beyrer...
Japan allocates funds to WTO's Global Trust for developing economies
By Globe Banner | Mar 13, 2024
The World Trade Organization (WTO) has announced that Japan is contributing EUR 115,000 to the WTO's Global Trust Fund. This fund supports training programs for government officials from developing economies and least-developed countries (LDCs). Over the past two decades, Japan's contributions to WTO trust funds have totalled nearly EUR 13.5 million.
Philippe Guy joins MedinCell’s Supervisory Board as chair
By Globe Banner | Mar 13, 2024
Philippe Guy, a seasoned professional with over three decades of experience at Boston Consulting Group, has been serving on the board of MedinCell for almost 14 years, as per his LinkedIn profile. Guy played a pivotal role in leading the audit committee during MedinCell's initial public offering, and also headed the ESG Committee.
Request Finance acquires Consola Finance
By Globe Banner | Mar 13, 2024
Request Finance has taken a significant step to enhance its support for finance professionals and certified public accountants (CPAs). The firm's recent acquisition will enable customers to manage an array of financial aspects, from accounts payable to employee expenses and crypto payments, all within the Request Finance platform.
BusinessEurope Reacts to Approval of Political Agreement on Prohibiting Products Made with Forced Labour
By Globe Banner | Mar 13, 2024
BusinessEurope Director General Markus J. Beyrer welcomed the approval of the political agreement on prohibiting products made with forced labour by Member States. Beyrer acknowledged the significance of this step, stating, "This is an important step in the EU’s efforts to tackle forced labour, but there is still much work to be done to make the Regulation workable and effective."Beyrer emphasized the stance of European businesses on forced labour, saying, "Forced labour is a serious human rights violation that European business fully condemns." He noted improvements in...
BusinessEurope Reacts to the European Parliament Plenary Vote on the AI Act
By Globe Banner | Mar 13, 2024
BusinessEurope Director General Markus J. Beyrer commented on the European Parliament Plenary vote on the AI Act, stating, "This is a pivotal moment for AI development in Europe, but successful implementation will be key to reassure investors, AI developers, and citizens that trustworthy AI is here to stay."Beyrer further expressed that the AI Act maintains a risk-based framework and prevents the emergence of divergent national laws. However, he highlighted concerns about the need for extensive secondary legislation and guidelines, emphasizing their importance for legal...
Lightspeed DMS welcomes new chief executive officer
By Globe Banner | Mar 12, 2024
Brian Provost has been appointed as the new chief executive officer of Lightspeed DMS LLC, succeeding Kris Denos.