News from September 2024
WTO regional trade policy course begins in Togo
By Globe Banner | Sep 25, 2024
The WTO Regional Trade Policy Course has commenced in Togo, with participants set to engage in discussions over eight weeks. The course will cover the modernization and reform of the multilateral trading system, the Agreement on Fisheries Subsidies, and digital and green initiatives shaping global trade's future. Participants will interact with WTO and regional experts, as well as academics from the University of Lomé, which has partnered with the WTO since 2023 for this course.
U.S international investment position shows deficit increase in Q2 2024
By Globe Banner | Sep 25, 2024
The U.S. net international investment position, which measures the difference between U.S. residents' foreign financial assets and liabilities, stood at –$22.52 trillion at the end of the second quarter of 2024. This information was released by the U.S. Bureau of Economic Analysis.
WTO releases documents on Kazakhstan’s trade policy review
By Globe Banner | Sep 25, 2024
The World Trade Organization (WTO) has released several documents related to the recent Trade Policy Review of Kazakhstan. These documents include a detailed report by the WTO Secretariat and a policy statement from the Kazakh government.
World Bank official calls for collective action on high-integrity carbon markets
By Globe Banner | Sep 25, 2024
Axel van Trotsenburg, the World Bank's Senior Managing Director, addressed the need for accelerating climate action through high-integrity carbon markets in a recent speech. He acknowledged the leadership of Annette, Chris, and Rachel in the carbon market ecosystem and thanked Bloomberg Philanthropies and GFANZ for their support.
EU initiates WTO dispute over Chinese anti-subsidy probe on dairy
By Globe Banner | Sep 25, 2024
The European Union has initiated a dispute complaint against China's anti-subsidy investigation on EU dairy products. The EU argues that the measure in question seems to be inconsistent with the Agreement on Subsidies and Countervailing Measures. According to the EU, the application did not provide enough evidence of a countervailable subsidy, injury, or a causal link between subsidized imports and the alleged injury.
Roundtable highlights global cooperation's role in advancing low-carbon hydrogen
By Globe Banner | Sep 25, 2024
A roundtable discussion on low-carbon hydrogen emphasized the importance of global cooperation to leverage renewable resources and advance sustainability. WTO Deputy Director-General Jean-Marie Paugam highlighted the role of trade in connecting regions rich in renewable resources with areas of high demand. “Trade can act as a bridge, linking regions rich in renewable resources with areas of high demand. We have been told that it offers a unique opportunity for developing economies to leverage their green comparative advantage, tapping into their vast renewable resources and...
World Bank approves $92.2 million grant for broadband expansion in Chad
By Globe Banner | Sep 25, 2024
The World Bank has approved a $92.2 million grant from the International Development Association (IDA) to enhance broadband connectivity and improve digital public services in Chad. The initiative, known as the Chad Digital Transformation Project, aims to bolster the institutional, strategic, legal, regulatory, and policy frameworks for internet access in Chad.
Integration urged at UN Committee's business and trade statistics meeting
By Globe Banner | Sep 24, 2024
DDG Ellard opened the 7th meeting of the UN Committee of Experts on Business and Trade Statistics on September 24, 2024. In her address, she emphasized the need to integrate traditional trade statistics with business statistics to gain a comprehensive view of global trade patterns.
World Bank launches $2.5 billion clean energy program in East Asia
By Globe Banner | Sep 24, 2024
A new World Bank program aims to help developing countries in East Asia and the Pacific increase their renewable energy capacity. The $2.5 billion initiative is part of a global effort to accelerate the transition to low-carbon energy and combat climate change.
IMF and World Bank host high-level retreat for Bretton Woods at 80 Initiative
By Globe Banner | Sep 24, 2024
As part of the Bretton Woods at 80 Initiative, the International Monetary Fund (IMF) and the World Bank Group will host a high-level retreat in Bretton Woods, New Hampshire, on September 26-27, 2024.
Binance CEO: 'proud to have successfully secured our 19th global regulatory approval in India'
By Globe Banner | Sep 24, 2024
Binance CEO Richard Teng said that Binance's regulatory approval in India demonstrates the company's commitment to collaborating with regulators globally to advance crypto adoption. Teng shared his statement during a virtual "ask me anything," and Binance published his remarks on September 18.
UN committee highlights importance of integrated business-trade stats
By Globe Banner | Sep 24, 2024
The 7th meeting of the UN Committee of Experts on Business and Trade Statistics took place at the World Trade Organization. This event underscored the collaboration between the United Nations and the World Trade Organization in statistics, covering methodological work and capacity building in developing economies.
Mongolia continues push for gender equality amid ongoing challenges
By Globe Banner | Sep 24, 2024
ULAANBAATAR, September 24, 2024 — Despite significant equality reforms over recent years, women in Mongolia continue to face impediments to equal participation that could see past progress recede.
World Bank approves $80 million to improve higher education in Cambodia
By Globe Banner | Sep 24, 2024
The World Bank's Board of Executive Directors has approved $80 million in financing to support Cambodia’s efforts to enhance the quality of higher education and research, particularly in the fields of science, technology, engineering, and mathematics (STEM). The funding for this initiative comes from the International Development Association (IDA), which is the World Bank’s concessional lending arm for low-income countries.
World Bank highlights steps needed to boost Polish economy
By Globe Banner | Sep 24, 2024
A new World Bank report emphasizes that productivity growth through faster technological adoption, labor market reforms, and a smart industrial strategy aligned with green ambitions is crucial for Poland's economic competitiveness. This must be coupled with increased social inclusion as the country faces challenges such as an aging population and the costs of delayed decarbonization.
World Bank reports persistent poverty challenges despite macroeconomic gains in Somalia
By Globe Banner | Sep 24, 2024
Somalia has achieved notable macroeconomic progress in recent years, but poverty remains a significant challenge, according to a new World Bank report titled "Somalia Poverty and Equity Assessment." The report indicates that over half of the population still lives below the national poverty line.
Indonesia initiates safeguard probe on plastic tarpaulins
By Globe Banner | Sep 23, 2024
Indonesia has initiated a safeguard investigation on tarpaulins made from plastics and synthetic fibers. The notification includes contact information for the Investigating Authority, the Indonesian Safeguards Committee (Komite Pengamanan Perdagangan Indonesia - KPPI), located at Jl. M.I. Ridwan Rais No.5, Building I, 5th floor, Jakarta 10110. Interested parties can reach them via telephone or facsimile at (62-21) 385 7758 or email at kppi@kemendag.go.id.
World Bank signs six climate debt clauses amid Hurricane Beryl crisis
By Globe Banner | Sep 23, 2024
No one expected a Category 5 hurricane this early, though the Caribbean was already bracing for an active hurricane season. Hurricane Beryl approached the Caribbean in June, just as the hurricane season began; this was a rare occurrence.
Chainlink communications director: 'Co-founder Sergey Nazarov took the stage at #Token2049'
By Globe Banner | Sep 23, 2024
Chainlink Communications Director Chris Barrett said that the company's co-founder spoke at the Token 2049 conference in Singapore about advances in financial technology. Barrett shared his statement in a Sept. 18 post on X.
MultiversX co-founder: 'talking to incredible people about the next big things in Web3' at Token 2049
By Globe Banner | Sep 23, 2024
MultiversX Co-founder Lucian Mincu said that global Web3 leaders are participating in the Token 2049 conference in Singapore and invited other attendees to visit the MultiversX booth. Mincu shared his statement in a Sept. 18 post on X.