News from October 2024
Former Binance CEO to attend Blockchain Week Dubai
By Globe Banner | Oct 17, 2024
Changpeng Zhao, founder and former CEO of Binance, announced his attendance at the upcoming Binance Blockchain Week in Dubai, scheduled for October 30-31. Zhao made this announcement on October 10 via a post on X.
Binance Announces Blockchain Week Dubai 2024
By Globe Banner | Oct 17, 2024
Binance has announced that its upcoming event, Binance Blockchain Week Dubai 2024, will take place on October 30-31. Themed "Momentum," the event will focus on the industry's progress since the previous gathering in Istanbul. Key developments in blockchain will be addressed on the main stage.
Uber empowers drivers with new tools to handle disrespectful riders and prevent unfair deactivations
By R. B. Pepalis | Oct 16, 2024
Uber Technologies, Inc. is introducing new features that empower drivers to manage their interactions with riders more effectively.
Vaping Rights and the 2024 Election: A Potential Swing Issue?
By Globe Banner | Oct 16, 2024
As the 2024 election approaches, vaping industry advocate Tony Abboud warns that Democratic efforts to crack down on vaping products and smoking alternatives could backfire in key swing states. According to Abboud, a significant number of voters see access to tobacco alternatives as a decisive issue, particularly in light of recent moves by state and federal governments to limit their availability.
Burkina Faso joins WTO effort against harmful fishing subsidies
By Globe Banner | Oct 16, 2024
Burkina Faso has officially ratified the Agreement on Fisheries Subsidies, becoming the 85th member of the World Trade Organization (WTO) to do so. This step highlights Burkina Faso's commitment to international obligations, as emphasized by Minister Traoré: “Burkina Faso's ratification of the Agreement on Fisheries Subsidies is testimony to the emphasis our country places on honouring its international commitments, in this case its WTO commitments."
Middle East and North Africa face economic challenges amid conflicts
By Globe Banner | Oct 16, 2024
World Bank economists project a 2.2% growth rate for the Middle East and North Africa (MENA) region in 2024, according to the latest MENA Economic Update. This slight increase from the previous year conceals significant differences between high-income oil exporters and other developing economies within the region. The report highlights that real GDP growth forecasts have been notably reduced due to ongoing regional uncertainties, including conflict in Gaza and potential escalations in neighboring areas.
Liechtenstein supports EIF Interim Facility with CHF 40,000 donation
By Globe Banner | Oct 16, 2024
Liechtenstein has become the sixth donor to the Enhanced Integrated Framework (EIF) Interim Facility, contributing CHF 40,000. This facility was established to support Least Developed Countries (LDCs) during the transition period until a new multilateral support mechanism is operational.
World Bank report highlights gender pay gap issues facing Armenian women
By Globe Banner | Oct 16, 2024
Less than half of working-age women in Armenia are part of the labor force, primarily due to caregiving responsibilities for children and disabled family members. Those who do work earn, on average, 25 to 30 percent less than their male counterparts performing the same tasks. This is according to a new report released by the World Bank.
World Bank forecasts modest economic growth for MENA amid regional conflicts
By Globe Banner | Oct 16, 2024
Growth in the Middle East and North Africa (MENA) remains modest due to regional conflicts, according to the World Bank's latest MENA Economic Update titled "Growth in the Middle East and North Africa." The report predicts a slight increase in the region’s overall GDP growth from 1.8 percent in 2023 to 2.2 percent in 2024, driven by Gulf Cooperation Council (GCC) countries, where growth is expected to rise from 0.5 percent to 1.9 percent.
BusinessEurope outlines priorities for EU social policy through 2029
By Globe Banner | Oct 16, 2024
BusinessEurope has released its priorities for the European Union's social policy over the next five years. The document was presented to European Commission President Ursula Von der Leyen, Executive Vice-President Valdis Dombrovskis, and European Commissioner for Jobs and Social Rights Nicolas Schmit during a meeting with the European Social Partners.
World Bank introduces new partnership framework focusing on Cambodia's development
By Globe Banner | Oct 16, 2024
The World Bank Group has introduced a new Country Partnership Framework (CPF) for Cambodia, set to guide efforts from 2025 to 2029. This initiative aims to tackle three interconnected objectives: enhancing health and basic education, boosting competitiveness, and reinforcing the resilience of vulnerable households.
WTO opens registration for US-Argentina tubular goods dispute hearing
By Globe Banner | Oct 16, 2024
The World Trade Organization (WTO) has opened registration for the second public hearing in the dispute between the United States and Argentina regarding tubular goods. The hearing is scheduled to begin at 9:00 AM Geneva time on November 19, 2024, and may continue until 5:00 PM. It will resume at the same time on November 20.
Foley Foundation: Binance employee denied bail 'despite meeting conditions for bail,' deteriorating health
By Globe Banner | Oct 15, 2024
The James W. Foley Legacy Foundation has reported that Nigerian authorities have denied bail to Binance employee Tigran Gambaryan, a former U.S. federal agent, despite his eligibility for bail and deteriorating health conditions. The Foundation shared this information in an October 11 post on X.
World Bank issues £700M sustainable development bond maturing in October 2034
By Globe Banner | Oct 15, 2024
The World Bank has successfully issued a 10-year sterling-denominated Sustainable Development Bond, raising GBP 700 million from global investors. The bond is set to mature in October 2034 and offers an annual coupon of 4.25% with an annual yield of 4.321%. It was priced at +11.3 basis points over the UK Gilt due September 2034.
World Bank calls for increased investment as Pacific growth slows
By Globe Banner | Oct 15, 2024
The World Bank has released its latest Pacific Economic Update, urging a significant increase in investment to counteract the region's slowing economic growth. The report, titled "Diminishing Growth amid Global Uncertainty: Ramping Up Investment in the Pacific," emphasizes the necessity for targeted investments to generate jobs, enhance infrastructure, and build resilience against climate change amidst global uncertainties. These measures are seen as vital for improving the livelihoods of Pacific communities and reducing the income disparity with wealthier nations.
World Bank supports Malawi with new emergency response project
By Globe Banner | Oct 15, 2024
The Malawi Contingent Emergency Response Project (CERP) is an initiative under the World Bank's Investment Project Financing (IPF). It allows for emergency response expenditures to be financed using funds repurposed through the Rapid Response Option (RRO). The CERP is part of the World Bank’s Crisis Preparedness and Response Toolkit (CPRT), providing the Government of Malawi with rapid access to financing during eligible crises or emergencies.
World Bank report warns eliminating poverty could take over a century
By Globe Banner | Oct 15, 2024
At the current rate of progress, it could take over a century to eliminate poverty for nearly half of the global population, according to the World Bank's "Poverty, Prosperity, and Planet Report."
World Bank urges reforms as Bangladesh faces economic challenges post-COVID
By Globe Banner | Oct 15, 2024
Bangladesh is facing a complex economic recovery in the wake of the COVID-19 pandemic, according to a recent report by the World Bank. The Bangladesh Development Update highlights that the country is grappling with high inflation, a balance of payments deficit, and limited job opportunities for its youth, particularly affecting women and educated individuals.
Okonjo-Iweala urges WTO members to maintain constructive negotiations
By Globe Banner | Oct 15, 2024
The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, has urged members to remain constructive in their negotiations to achieve meaningful outcomes. In a recent address, she highlighted ongoing discussions on several key issues.
BusinessEurope discusses challenges facing Europe's SMEs at Berlin roadshow
By Globe Banner | Oct 15, 2024
BusinessEurope held its fourth SME Roadshow event in Berlin, Germany, in collaboration with the Confederation of German Employers’ Associations (BDA) and supported by the Federation of German Industries (BDI). The event featured speeches from Roberta Metsola, European Parliament President, and Michael Kellner, German Parliamentary State Secretary and Commissioner for SMEs.