News from May 2024
AFRICOM commander visits Benin to bolster security ties
By Globe Banner | May 6, 2024
U.S. Marine Corps General Michael Langley, Commander of U.S. Africa Command, and U.S. Marine Corps Sergeant Major Michael Woods visited Benin from May 1-3, 2024.
Changes in Farm and Food Production Can Cut Greenhouse Emissions by a Third
By Globe Banner | May 6, 2024
WASHINGTON, May 6, 2024 – The global agrifood system has the potential to significantly reduce greenhouse gas emissions by almost a third through accessible and cost-effective measures, all while ensuring food security for a growing population. This revelation comes from a new World Bank report titled "Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System."Axel van Trotsenburg, the World Bank Senior Managing Director, emphasized the impact of food production on climate change, stating, “While the food on your table may taste good, it is also a...
DG Okonjo-Iweala concludes high-level visit to Latin America
By Globe Banner | May 6, 2024
Director-General Okonjo-Iweala recently concluded a high-level visit to three Latin American countries: Chile, Uruguay, and Peru. The week-long tour began in Santiago, Chile, where she attended the CEB's biannual session chaired by UN Secretary-General Antonio Guterres. The event brought together heads of the UN system and associated organizations.
Cambodia Formally Accepts Agreement on Fisheries Subsidies
By Globe Banner | May 6, 2024
Cambodia has formally accepted the Agreement on Fisheries Subsidies, with Deputy Director-General Ellard expressing his warm welcome towards this development. He stated, "I warmly welcome Cambodia's formal acceptance of the Agreement on Fisheries Subsidies. By disciplining subsidies worldwide to harmful fishing, the Agreement will strongly benefit Cambodia, for which fisheries plays an important role in its food security and economic growth. Cambodia's formal acceptance underscores the significance that it, as a least-developed country, attaches to international...
Committee on Market Access Hosts Second Thematic Session on Supply Chain Resilience
By Globe Banner | May 6, 2024
The moderator, Mr Iain Fifer from the UK's Department for Business and Trade, highlighted the challenges facing global supply chains, including those relating to the COVID-19 pandemic, natural disasters, and rapid changes in technology. Emphasizing the importance of collaborative solutions, Mr Fifer stressed the value of sharing diverse technical insights and practical experiences in the Committee.
Grady Hurley Elected President of Maritime Law Association of the United States
By Globe Banner | May 6, 2024
NEW ORLEANS, May 6, 2024 /PRNewswire/ -- Jones Walker LLP announced today that Grady Hurley, a partner and co-leader of the maritime litigation, arbitration, and dispute resolution team, has been elected president of the Maritime Law Association of the United States (MLA) during the organization's general meeting held in New York City on May 3, 2024. Grady is the fourth president elected from New Orleans during the MLA's 125-year history.Grady Hurley expressed his gratitude for the opportunity, stating, "I am privileged to serve as the voice of the MLA and recognize this...
Data Center Market to Reach USD 329.82 Billion by 2027, AI Implementation Key Trend - Technavio Report
By Globe Banner | May 6, 2024
Technavio, a leading global technology research and advisory company, has projected that the global data center market size is poised to grow by USD 329.82 billion from 2023 to 2027. This growth is forecasted to occur at a Compound Annual Growth Rate (CAGR) of 12.73% during the specified period.One of the key trends fueling this growth is the implementation of Artificial Intelligence (AI) in data centers. According to Technavio, AI is enhancing energy efficiency in data centers by optimizing server, power, and cooling systems. The utilization of AI expedites...
Women and Girls in Mozambique to Benefit from New Initiative Combatting Gender-Based Violence
By Globe Banner | May 6, 2024
Women and girls in Mozambique are set to benefit from a new initiative aimed at combating Gender-based Violence (GBV), as approved by the World Bank Board of Directors on April 30. The Capacity Building for Improved Gender-based Violence Response Project is designed to address the critical challenge of GBV in Mozambique by enhancing support services and promoting survivor engagement.Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, emphasized the significance of strengthening support systems for GBV survivors, stating, "Improving access to services...
National Institute for Innovation and Technology™ and Partners Celebrate Youth Apprenticeship Week with Commitment to Expanding Opportunities in Semiconductor and Advanced Manufacturing
By Globe Banner | May 6, 2024
HANOVER, Md., May 6, 2024 /PRNewswire/ -- The National Institute for Innovation and Technology™, along with key partners, is celebrating the inaugural Youth Apprenticeship Week (YAW) with a commitment to expanding opportunities in semiconductor and advanced manufacturing. The week-long event, endorsed by the U.S. Department of Labor, highlights the importance of apprenticeships in building a skilled workforce for the future.Mike Russo, President and CEO of the Institute, emphasized the institute's dedication to bridging the gap between the current workforce and future...
World Bank Approves $80 Million to Strengthen Financial Sector in Nepal
By Globe Banner | May 6, 2024
WASHINGTON, May 6, 2024—The World Bank’s Board of Executive Directors has given the green light to an $80 million development policy credit for Nepal aimed at bolstering the stability of the financial sector, diversifying financial solutions, and enhancing access to financial services.Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal, and Sri Lanka, emphasized the significance of the project, stating, “This project supports Nepal’s green, resilient, and inclusive development and will help create an enabling environment for private investment to...
Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System
By Globe Banner | May 6, 2024
May 6, 2024"Agrifood is a bigger contributor to climate change than many think. It generates almost a third of global greenhouse gas emissions, averaging around 16 gigatons annually. This is about one-sixth more than all of the world’s heat and electricity emissions."According to the report titled "Recipe for a Livable Planet," the agrifood system has been identified as a significant source of greenhouse gas emissions, with the potential to make a substantial impact on mitigating climate change. The report highlights the importance of addressing agrifood emissions to...
Incentive-Based Compensation Regulations Proposed by Federal Agencies
By Globe Banner | May 6, 2024
The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA), have adopted a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (section 956). The National Credit Union Administration (NCUA) is expected to take action on the NPR in the near future. The U.S. Securities and Exchange Commission (SEC) has included a rulemaking to implement section 956 on its...
Climate-Smart Road Rehab: A crucial upgrade for São Tomé and Príncipe
By Globe Banner | May 6, 2024
May 6, 2024The recent completion of the rehabilitation and upgrade of the National Road 1 (EN1) in São Tomé and Príncipe has brought significant improvements to the country's infrastructure, mobility, businesses, and residential areas.Helder Paquete, the National Executive Director of STP's National Road Institute (INAE), emphasized the importance of the project, stating, "We expect all future roads to be built to at least this standard, with a focus on climate resilience." The project, financed by the World Bank, sets a new standard for building climate-resilient roads...
Bhutan's Economy Maintains Robust Growth Despite Challenges
By Globe Banner | May 3, 2024
THIMPHU, May 3, 2024—Bhutan’s economy is on a path of robust growth despite facing challenges, as highlighted in the recent World Bank reports.The April 2024 Bhutan Development Update revealed that the economy is expected to experience a 4.6 percent real GDP growth in FY22/23, with a further acceleration to 4.9 percent in FY23/24. Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, emphasized the importance of enabling the business environment to attract Foreign Direct Investments and promoting the private sector to create more jobs aligned with the...
Hazardous substance fire reported in Berlin's Lichterfelde neighborhood
By Globe Banner | May 3, 2024
Local authorities in Berlin have reported a fire involving hazardous substances in the Lichterfelde neighborhood.
Greater Investment in Education Key to Driving Stronger Economic Growth, Economic Diversification
By Globe Banner | May 3, 2024
PORT MORESBY, May 2, 2024 – Papua New Guinea’s economy is forecast to accelerate in 2024 after a slowdown last year, yet greater investment in education is critical to the country’s longer-term economic future, a World Bank report released on Thursday says.According to the World Bank's Papua New Guinea Economic Update: Invest in Your Children report, the economic growth in Papua New Guinea is projected to rise to 4.8% this year from 2.7% in 2023 after the reopening of the Porgera gold mine. However, growth is expected to remain below its pre-pandemic trajectory.World...
Workshop on WTO Government Procurement Agreement concludes in Geneva
By Globe Banner | May 3, 2024
A workshop on the World Trade Organization (WTO) Government Procurement Agreement (GPA) concluded in Geneva on May 3, 2024. The event, held in celebration of the 10th anniversary of the entry into force of the GPA 2012, featured insightful discussions and practical exercises aimed at enhancing understanding and implementation of the agreement.During the opening session on April 29, WTO Deputy Director-General Johanna Hill emphasized the significance of the GPA 2012 in promoting sustainable development and fostering mutual benefits for exporters and governments involved in...
Improving Education Infrastructure and Quality in Togo
By Globe Banner | May 3, 2024
Lavié Péniel, May 3, 2024 - "Before the construction of this new building, many children had abandoned our school because the classrooms were made of tree trunks, sheet metal and foliage, and provided no shelter from the rain. When it rained, we had to send them home and so the school day was cut short. Today, I am proud to have a school with a solid structure, one worthy of being called ‘school!’ Some students have gradually returned, and the number of students will increase further at the start of the next school year," said Dabitora Saguintaah-Tiwarka, the principal of...
NPCI International Payments Limited, Bank of Namibia create partnership to develop instant payment system
By Globe Banner | May 2, 2024
The National Payments Corporation of India (NPCI) has recently declared a collaboration with the Bank of Namibia (BoN). The purpose of this partnership is to assist the Bank of Namibia in establishing its own payment system.
Sixth annual WIBA Awards comes to Cannes Film Festival
By Globe Banner | May 2, 2024
The World Influencers and Bloggers Awards (WIBA) is set to take place on May 24 at Hotel Martinez in Cannes, France. The event honors various social media personalities with accolades such as Best Pet Influencer and Best Beauty Influencer.