News from September 2024
Goods Trade Barometer signals upturn in global merchandise trade
By Globe Banner | Sep 4, 2024
The Goods Trade Barometer, a composite leading indicator for global trade, has risen above trend, indicating an upturn in merchandise trade volume. The barometer's latest reading of 103.0 suggests that trade volume growth will remain positive in the second and third quarters of 2024 once official statistics are released.
World Bank reports over 400 million students affected by weather-related school closures since 2022
By Globe Banner | Sep 4, 2024
A new World Bank report reveals that more than 400 million students worldwide have experienced school closures due to extreme weather since 2022. The report, released today, underscores the severe impact of climate change on education in low- and middle-income countries and proposes solutions to leverage education for climate action. It estimates that a one-time investment of $18.51 per child can mitigate the adverse effects of climate shocks.
U.S trade deficit widens to nearly \$79 Billion as imports surge
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from $73.0 billion in June, revised.
Nordic economies show signs of recovery amid global modest growth
By Globe Banner | Sep 4, 2024
The global economy continues to experience modest growth, with Europe expected to play a significant role in driving this trend.
Wife of ex-federal agent imprisoned in Nigeria: 'he is now reaching the point of no return'
By Globe Banner | Sep 4, 2024
Yuki Gambaryan, the wife of Tigran Gambaryan, head of financial crime compliance at Binance and a former U.S. federal agent, stated that her husband's health is deteriorating severely. She expressed concern that he may never fully recover. Yuki shared her statement in an Aug. 26 YouTube video.
Public Forum 2024 to discuss re-globalization through trade
By Globe Banner | Sep 4, 2024
The 2024 Public Forum will explore how re-globalization through trade can lead to a better world. It will focus on how green policies, services, and digitalization can contribute to this objective.
Education key in mitigating effects of widespread school closures due to climate change
By Globe Banner | Sep 4, 2024
More than 400 million students have been affected by climate-related school closures since 2022, according to a recent report. The report emphasizes that for less than $20 per student, schools can adapt and minimize learning losses.
U.S trade deficit rises to \$78\.8 Billion in July
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from a revised figure of $73.0 billion in June.
NCUA awards over $3.5 million in community development revolving loan fund grants
By Globe Banner | Sep 4, 2024
The National Credit Union Administration (NCUA) announced the distribution of over $3.5 million in Community Development Revolving Loan Fund grants to 135 low-income-designated credit unions.
World Bank projects strong economic growth for India despite subdued global conditions
By Globe Banner | Sep 3, 2024
NEW DELHI, September 3, 2024 — The Indian economy continues to grow at a healthy pace despite challenging global conditions, according to the World Bank’s latest India Development Update: India’s Trade Opportunities in a Changing Global Context. However, to reach its $1 trillion merchandise exports goal by 2030, India needs to diversify its export basket and leverage global value chains.
Kennedy-Lugar YES program opens applications for Libyan students
By Globe Banner | Sep 3, 2024
The Kennedy-Lugar Youth Exchange and Study (YES) program is now accepting applications from high school students in Libya for the academic year 2024-2025.
Serbia receives $65 million from World Bank for railway maintenance
By Globe Banner | Sep 3, 2024
Serbia will enhance the maintenance of its railway infrastructure with a new $65 million support from the World Bank. This funding represents the second tranche of the Multiphase Programmatic Approach (MPA) for Serbia Railway Sector Modernization Project, aimed at building a safer, more efficient, and climate-friendly rail sector.
World Bank appoints Qimiao Fan as country director for Kenya, Rwanda, Somalia & Uganda
By Globe Banner | Sep 2, 2024
Nairobi, September 2, 2024 – The World Bank has appointed Mr. Qimiao Fan as the new Country Director for Kenya, Rwanda, Somalia, and Uganda, effective September 1, 2024. Mr. Fan, who has over 35 years of experience in development practice, will oversee the design and implementation of the World Bank’s support program to the four countries that has an active portfolio consisting of 102 projects totaling $17.2 billion.
Wealth Management author: 'The Bitcoin bulls are back'
By Globe Banner | Sep 1, 2024
Lark Davis, author of the Wealth Management newsletter, said BlackRock's recent large purchases of Bitcoin for its Bitcoin exchange-traded fund (ETF) signal that investors are feeling optimistic about increases in cryptocurrency prices. Davis shared his statement in an Aug. 27 post on X.
World Bank outlines strategies for Paraguay’s economic transformation
By Globe Banner | Sep 1, 2024
Paraguay is positioned for a promising future, with abundant natural resources, a young population, and a stable macroeconomic environment. However, to fully realize its potential, the country needs to adopt a new growth strategy that prioritizes productivity, resilience, and sustainability.