News from October 2024
Binance CEO: 'deeply relieved and grateful that Tigran Gambaryan has finally been released' from Nigerian prison
By Globe Banner | Oct 25, 2024
Binance CEO Richard Teng expressed gratitude to all parties involved in securing the release of Tigran Gambaryan, Binance's head of financial crime compliance, from Nigeria. Gambaryan had been detained since February. Teng shared his statement in an October 24 post on X.
WTO-IFC collaboration aims to enhance supply chain financing for small businesses
By Globe Banner | Oct 25, 2024
The World Trade Organization (WTO) and the International Finance Corporation (IFC) have been working together to improve access to supply chain finance, as highlighted by WTO Director-General Ngozi Okonjo-Iweala.
Japan commits $1 billion guarantee with World Bank for global projects
By Globe Banner | Oct 25, 2024
Japan has entered into a $1 billion portfolio guarantee agreement with the World Bank, aimed at increasing financing for projects that tackle global challenges.
IMFC discusses global economy amid conflicts at fiftieth meeting
By Globe Banner | Oct 25, 2024
In Washington, D.C., on October 24 and 25, the Fiftieth Meeting of the International Monetary and Financial Committee (IMFC) convened to discuss global macroeconomic challenges.
IMF projects steady growth for Sub-Saharan Africa amid reform challenges
By Globe Banner | Oct 25, 2024
Sub-Saharan Africa's economic growth is expected to remain at 3.6 percent in 2024, according to the International Monetary Fund's (IMF) latest Regional Economic Outlook for the region.
Taiwanese children's programs gain international acclaim at Ketagalan Boulevard event
By Globe Banner | Oct 25, 2024
On October 19, the "Big FUN Ketagalan Boulevard - Children's Future City" event took place at Ketagalan Boulevard, attracting many families.
IMF reports subdued growth in sub-Saharan Africa amid reform challenges
By Globe Banner | Oct 25, 2024
On October 25, 2024, the International Monetary Fund (IMF) released its Regional Economic Outlook for sub-Saharan Africa.
Chair addresses key challenges at IMF-World Bank annual meetings
By Globe Banner | Oct 25, 2024
On October 25, 2024, the Chair of the Boards of Governors addressed the plenary session of the International Monetary Fund (IMF) and World Bank Group's annual meetings.
Latvia boosts contribution to World Bank fund by 60% amid global crises
By Globe Banner | Oct 25, 2024
Latvia has committed to increasing its financial contribution to the International Development Association (IDA) by 60%, amounting to €9.48 million.
IMF's Georgieva to speak at 2024 annual meetings plenary
By Globe Banner | Oct 25, 2024
Annual Meetings Chairman Ahmed Munawar, Chairperson and Governor of the Maldives Monetary Authority, World Bank Group President Ajay Banga, and Managing Director of the International Monetary Fund Kristalina Georgieva are set to speak at the plenary session of the Annual Meetings in Washington D.C. on October 25th.
World Bank focuses on jobs and gender at Annual Meetings
By Globe Banner | Oct 25, 2024
The World Bank Group's recent Annual Meetings showcased significant progress in its reform agenda and introduced a new focus on job creation.
Netherlands Trainee Programme participants visit The Hague for trade policy study
By Globe Banner | Oct 25, 2024
The Netherlands Trainee Programme (NTP) participants recently embarked on a study visit to The Hague.
SEC appeals Ripple Labs decision after $125 million penalty imposed
By Globe Banner | Oct 25, 2024
On October 2, just one hour after SEC Enforcement Chief Gurbir Grewal announced his resignation, the Securities and Exchange Commission (SEC) filed an appeal with the United States Court of Appeals for the Second Circuit, contesting the Southern District of New York's August decision that imposed a $125 million penalty on Ripple Labs, Inc.
Global sales slump as Starbucks faces legal and operational challenges
By D. D. Diggs | Oct 25, 2024
On October 22, Starbucks Corporation announced a 7% decline in global comparable store sales for its fourth fiscal quarter, deepening concerns about the coffee giant’s ability to regain its footing amid a challenging business environment and mounting legal and ethical challenges.
World Bank sets targets for women's economic empowerment by 2030
By Globe Banner | Oct 24, 2024
The World Bank Group has announced the initial steps for implementing its Gender Strategy 2030, aiming to enhance economic opportunities for women globally.
International bodies propose coordinated approach on climate action in new joint report
By Globe Banner | Oct 24, 2024
Five international organizations have released a significant report detailing potential coordinated approaches to climate action, carbon pricing, and the cross-border effects of climate change mitigation policies. The report was presented by the Joint Task Force on Climate Action, Carbon Pricing, and Policy Spillovers, convened by the World Trade Organization (WTO) and joined by the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and the World Bank.
World Bank launches strategy for women's economic empowerment by 2030
By Globe Banner | Oct 24, 2024
The World Bank Group has announced its Gender Strategy 2030, aiming to enhance economic opportunities for women by 2030. The initiative was introduced at the 2024 World Bank Group Annual Meetings and focuses on three main areas: broadband access, social protection, and capital provision.
Spain increases financial commitment to International Development Association by nearly 40
By Globe Banner | Oct 24, 2024
Spain has announced a financial commitment of €400 million to the International Development Association (IDA), marking a 37% increase from its previous contribution.
Trade facilitation meeting addresses digitalization efforts
By Globe Banner | Oct 24, 2024
China, El Salvador, Georgia, Jamaica, and Japan have shared their national experiences with digitalization in the "Single Window for Trade Facilitation" process at a recent committee meeting.
New ad highlights benefits of zero international transaction fees
By Globe Banner | Oct 24, 2024
Australia is witnessing a new development in the world of finance as an advertisement titled "Hussle free" makes waves.