News from September 2024
WTO Trade and Public Health Workshop begins in Geneva
By Globe Banner | Sep 30, 2024
The 2024 WTO Trade and Public Health Workshop commenced in Geneva on September 30, 2024. In her opening remarks, WTO Deputy Director-General Johanna Hill emphasized the importance of WTO rules in ensuring equitable access to health-related products and services. She stated, “WTO rules facilitate equitable access to health-related products and services: starting with research and development, continuing through production, and culminating in last mile distribution to patients and medical personnel around the world.”
World Bank officials highlight importance of continued support for Haiti
By Globe Banner | Sep 30, 2024
On his first visit to Haiti at the end of August 2024, Dirk Reinermann, Director for Resource Mobilization with the World Bank’s International Development Association (IDA), toured the new location of the National Emergency Operations Center of the Direction Générale de la Protection Civile. The recently inaugurated 480 square-meter facility, partly financed by IDA, aims to improve coordination among populations at risk before, during, or after climatic, geological, or other events.
Djibouti economy grows strongly amid challenges
By Globe Banner | Sep 30, 2024
Djibouti’s economy saw significant growth in 2023, with GDP rising by an estimated 6.7 percent. This growth was driven by a recovery in Ethiopia's demand for port and logistics services and strong domestic demand bolstered by private investment and government measures to counter inflation from the Russian invasion of Ukraine.
WTO's Trade and Environment Week 2024 to focus on inclusive sustainability
By Globe Banner | Sep 30, 2024
The World Trade Organization (WTO) will host its annual Trade and Environment Week in 2024, focusing on the inclusive shift to sustainability. This event aims to foster discussions around trade-related environmental issues among WTO members, business representatives, international organizations, academics, leading experts, and civil society.
World Bank backs Indonesian reforms for sustainable land management
By Globe Banner | Sep 30, 2024
A new land management reform initiative aims to help Indonesia achieve its climate objectives, with the World Bank's Board of Executive Directors approving a US$653 million project on September 30, 2024. The Integrated Land Administration and Spatial Planning (ILASP) project is designed to reduce greenhouse gas emissions associated with land conversion, particularly in the Forestry and Other Land Use sector. This effort aligns with Indonesia's target to cut emissions by 31 percent by 2030 and supports the Golden Indonesia 2045 vision.
WTO-FIFA initiative concludes consultations on advancing African cotton industry
By Globe Banner | Sep 30, 2024
The "Partenariat pour le Coton" initiative, launched in February 2024 following a Memorandum of Understanding between the World Trade Organization (WTO) and FIFA in 2022, has concluded its national consultations. The initiative aims to support C4+ countries in enhancing their cotton value chain.
Niger expects economic recovery driven by oil revenues amid challenges
By Globe Banner | Sep 30, 2024
Niger's economy is expected to recover following a challenging year marked by political instability. This recovery hinges on favorable security and climate conditions, along with sustained oil production for exports, as detailed in the World Bank's latest economic update for Niger.
NCUA prohibits two individuals from participating in federally insured depository institutions
By Globe Banner | Sep 30, 2024
The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.
World Bank official visits Haiti highlights ongoing support amid crises
By Globe Banner | Sep 30, 2024
On his first visit to Haiti at the end of August 2024, Dirk Reinermann, Director for Resource Mobilization with the World Bank’s International Development Association (IDA), toured the new location of the National Emergency Operations Center of the Direction Générale de la Protection Civile. The recently inaugurated 480 square-meter facility, partly financed by the International Development Association, will facilitate better coordination among populations at-risk before, during or after climatic, geological, or other events.
Niger's economic resilience amid crises highlights urgent need for investment in education
By Globe Banner | Sep 30, 2024
In Niger, 2023 was marked by a severe political crisis that triggered regional commercial and financial sanctions and disrupted external financing. The sanctions lasted seven months, and an estimated 7.5% of GDP in external financing was not disbursed in 2023 due to disruptions in international development assistance. The report estimates that the crisis significantly reduced GDP growth to 2.0% in 2023 (-1.7% per capita), compared to 6.9% prior to the crisis.
Dentsu CEO: We're no longer only an advertising company
By Globe Banner News Service | Sep 28, 2024
The leader of Japan's largest marketing agency says the company will grow by consulting clients on business transformation and technology, not just traditional advertisting and public relations.
WTO conference highlights need for resilient global trade
By Globe Banner | Sep 28, 2024
The WTO Chairs Conference in India recently focused on the need for resilient and inclusive trade. The event opened with remarks from WTO Deputy Director-General Xiangchen Zhang, who emphasized the significance of the WTO Chairs Programme (WCP) network in strengthening the multilateral trading system. He stated, “Trade negotiations cannot succeed if only a few voices are heard,” highlighting the importance of participation from all countries.
Preqin announces report on India's growing role in global venture capital
By Globe Banner | Sep 28, 2024
Preqin has released a report highlighting India's increasing role in global venture capital, noting a significant rise in assets under management for India-focused VC funds. Despite recent declines, the long-term outlook for venture capital in India remains positive.
Binance announces cooperation with India ED in Fiewin app scam investigation
By Globe Banner | Sep 28, 2024
Binance announced that India's Enforcement Directorate (ED) has arrested four individuals connected to the Fiewin gaming app scam. The investigation revealed links to digital wallets, with Binance's Financial Intelligence Unit (FIU) providing significant assistance.
Romania publishes roadmap for developing offshore wind industry
By Globe Banner | Sep 27, 2024
The European Commission and the World Bank Group have collaborated with the Government of Romania to publish a new roadmap aimed at developing offshore wind energy in the Black Sea. The document, part of the project 'Internal energy market and energy transition in Romania,' received technical support from the European Commission’s Directorate General for Structural Reform Support (DG REFORM). The initiative was funded by the European Union through the Technical Support Instrument and implemented by the World Bank and International Finance Corporation (IFC), alongside DG...
U.S Bureau Economic Analysis reports slight rise personal income outlays August
By Globe Banner | Sep 27, 2024
Personal income in the United States increased by $50.5 billion, or 0.2 percent, in August, according to estimates released by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI), which is personal income less current taxes, rose by $34.2 billion, also a 0.2 percent increase. Personal consumption expenditures (PCE) grew by $47.2 billion, marking another 0.2 percent rise.
BEA reports Q2 economic data showing mixed results across US states
By Globe Banner | Sep 27, 2024
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the second quarter of 2024, with the percent change ranging from 5.9 percent at an annual rate in Idaho to -1.1 percent in Alaska, according to statistics released today by the U.S. Bureau of Economic Analysis.
World Bank grants $30 million to support Zambian refugee policy
By Globe Banner | Sep 27, 2024
The World Bank has approved a new grant to help Zambia improve socio-economic opportunities for refugees and their host communities. The $30 million Zambia Refugee and Host Communities Project will focus on legislative reforms supporting the Government of Zambia’s 2023 Refugee Policy and invest in social and economic activities within the Meheba refugee settlement.
WTO holds workshop to improve compliance with import licensing
By Globe Banner | Sep 27, 2024
The World Trade Organization (WTO) recently held a workshop aimed at enhancing capacity on import licensing and notifications. In her opening remarks, Ms. Tyesha Turner, Chairperson of the Committee on Import Licensing, emphasized the importance of transparency within the multilateral trading system. She noted that import licensing has been on the global trade agenda since the 1970s and became part of the WTO's multilateral agreements after the Uruguay Round.
Starbucks stock downgraded due to uncertainty on operational improvements
By Globe Banner | Sep 26, 2024
Starbucks Corp., a global leader in the coffeehouse industry, has encountered a recent stock downgrade by analysts due to ongoing challenges. Highlighted issues include concerns over operations, organizational culture, and value perception.