News published on Globe Banner in September 2024

The U.S. Bureau of Economic Analysis has reported a significant increase in the nation's current-account deficit for the second quarter of 2024.

World Bank unveils framework for sustainable artisanal mining

The World Bank today unveiled a new vision to unlock the potential of artisanal and small-scale mining (ASM) to drive economic growth, boost development, and reduce poverty in developing countries. The sector, which supplies minerals essential for the global clean energy transition, continues to face significant challenges, including environmental harm, gender inequality, human rights issues, and health and safety risks.

UAE contributes $4 million for LDC trade capacity enhancement

The UAE's contribution—its first to the Enhanced Integrated Framework (EIF)—will finance initiatives in Least Developed Countries (LDCs) aimed at strengthening trade capacities and facilitating these countries' integration into the global trading system. Discussions on establishing a new multilateral support mechanism for LDCs are currently taking place in a taskforce at the World Trade Organization (WTO). The UAE is the fifth donor to the EIF Interim Facility, which was established to maintain momentum in supporting LDCs during the transition period until the new...

World Bank's "Mission 300" aims for widespread electrification in Sub-Saharan Africa by 2030

Africans, soon to be the world’s largest workforce, have an opportunity to transform their region into a global economic powerhouse—provided they have access to modern power.

World Bank renews partnership with Romania aiming at growth competitiveness

The World Bank Group’s Board of Executive Directors has endorsed a new five-year Country Partnership Framework (CPF) for Romania. The framework aims to reduce poverty and promote prosperity across the country by improving human capital outcomes, creating better job opportunities and a more competitive economy, and speeding up the green transition.

World Bank reports record $42.6 billion climate finance for fiscal year 2024

WASHINGTON, September 19, 2024 -- The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—which covers July 1, 2023 to June 30, 2024—supporting efforts to end poverty on a livable planet, investing in cleaner energy, more resilient communities, and stronger economies. This represents a 10% increase in climate finance compared to the previous year.

World Bank urges urgent reforms for Solomon Islands' economic resilience

Research shows reform could drive country to upper-middle income status by 2040

Binance announces speaker lineup for Blockchain Dubai 2024

Binance announced the initial speaker lineup for Binance Blockchain Dubai 2024, featuring prominent figures from Circle, Nansen, Dubai Future Foundation, and Wamda Capital. Additional speakers are expected to be revealed soon.

WTO dialogues address enhancing capacities and inventories for tackling plastic waste

On September 18, 2024, discussions at the Plastics Pollution Dialogue focused on two critical areas: capacity building and inventories of trade-related plastic measures (TrPMs). These discussions are essential for addressing plastics pollution while maintaining trade as a part of the solution.

WTO-FIFA partnership begins national consultations on cotton initiative in Benin

The “Partenariat pour le Coton” initiative, launched in February 2024 following the signing of the WTO-FIFA Memorandum of Understanding (MoU) in 2022, brings together public and private sector partners to support the C-4 plus countries in moving up the cotton value chain and ensuring greater benefits for these nations.

WTO members seek momentum for agriculture talks ahead of ministerial conference

Summarizing his informal consultations with members last week, the Chair of the negotiations, Ambassador Alparslan Acarsoy of Türkiye, highlighted a recurring emphasis on the need to rebuild trust among members.

World Bank Vice President visits Bangladesh for high-level meetings

DHAKA, September 18, 2024 — The World Bank Vice President for the South Asia Region, Martin Raiser, arrives in Dhaka today.

Masimo Corporation faces pivotal moment for shareholders this week

Masimo Corporation, a global leader in non-invasive medical monitoring technology, faces a significant decision on Sep. 19 that could reshape its future. The upcoming annual shareholder meeting on Thursday will address whether to retain long-serving CEO Joe Kiani or bring in Quentin Koffey, a representative of hedge fund Politan Capital Management.

Social accountability initiatives transform lives: A case study from Cambodia

Channa Pak’s journey from waste picker in an urban slum in Phnom Penh to becoming one of 3,523 Community Accountability Facilitators in Cambodia exemplifies the transformative power of social accountability initiatives. The Social Accountability Forum held in Phnom Penh on March 29, 2024, brought together government ministries, civil society organizations, development partners, the media, and youth groups to highlight the impact of citizen engagement on public service delivery.

World Bank supports Rwandan initiative on skill development

Investing in skills development across key sectors of the economy is crucial to accelerating the growth of Rwanda’s private sector and achieving the country’s economic targets, as outlined in Vision 2050.

Rwanda's economy grows by nearly ten percent amid global slowdown

Rwanda's Economy Registers Strong Growth in Early 2024 Despite Persistent Challenges

WTO advances Sixth Review of Sanitary and Phytosanitary Measures Agreement

At a recent meeting of the SPS Committee, WTO members discussed the revised background document, the draft report of the Sixth Review, and the draft recommendations proposed by the WTO Secretariat. These discussions were based on previous dialogues held during the review process. All pertinent documents are accessible on the webpage dedicated to the Review of the SPS Agreement.

WTO members discuss post-MC13 e-commerce work programme focusing on development

Members of the World Trade Organization (WTO) convened to discuss the work programme on e-commerce following the 13th Ministerial Conference (MC13), with a particular focus on development. The meeting took place on September 17, 2024.

World Bank outlines strategies for Maldivian climate resilience in new report

The Maldives, with an economy heavily reliant on tourism and fisheries, faces significant threats from climate change. These two sectors account for nearly half of the nation's GDP and employment. The impacts of climate change on coral reefs and fisheries are already evident and are projected to worsen by mid-century under both high and moderate emission scenarios. This environmental degradation poses severe risks to the Maldives' economy and ecosystems.

Dominica leverages natural resources for climate resilience and economic growth