News from 2024
World Bank Approves $80 Million to Strengthen Financial Sector in Nepal
By Globe Banner | May 6, 2024
WASHINGTON, May 6, 2024—The World Bank’s Board of Executive Directors has given the green light to an $80 million development policy credit for Nepal aimed at bolstering the stability of the financial sector, diversifying financial solutions, and enhancing access to financial services.Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal, and Sri Lanka, emphasized the significance of the project, stating, “This project supports Nepal’s green, resilient, and inclusive development and will help create an enabling environment for private investment to...
Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System
By Globe Banner | May 6, 2024
May 6, 2024"Agrifood is a bigger contributor to climate change than many think. It generates almost a third of global greenhouse gas emissions, averaging around 16 gigatons annually. This is about one-sixth more than all of the world’s heat and electricity emissions."According to the report titled "Recipe for a Livable Planet," the agrifood system has been identified as a significant source of greenhouse gas emissions, with the potential to make a substantial impact on mitigating climate change. The report highlights the importance of addressing agrifood emissions to...
Incentive-Based Compensation Regulations Proposed by Federal Agencies
By Globe Banner | May 6, 2024
The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA), have adopted a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (section 956). The National Credit Union Administration (NCUA) is expected to take action on the NPR in the near future. The U.S. Securities and Exchange Commission (SEC) has included a rulemaking to implement section 956 on its...
Climate-Smart Road Rehab: A crucial upgrade for São Tomé and Príncipe
By Globe Banner | May 6, 2024
May 6, 2024The recent completion of the rehabilitation and upgrade of the National Road 1 (EN1) in São Tomé and Príncipe has brought significant improvements to the country's infrastructure, mobility, businesses, and residential areas.Helder Paquete, the National Executive Director of STP's National Road Institute (INAE), emphasized the importance of the project, stating, "We expect all future roads to be built to at least this standard, with a focus on climate resilience." The project, financed by the World Bank, sets a new standard for building climate-resilient roads...
Bhutan's Economy Maintains Robust Growth Despite Challenges
By Globe Banner | May 3, 2024
THIMPHU, May 3, 2024—Bhutan’s economy is on a path of robust growth despite facing challenges, as highlighted in the recent World Bank reports.The April 2024 Bhutan Development Update revealed that the economy is expected to experience a 4.6 percent real GDP growth in FY22/23, with a further acceleration to 4.9 percent in FY23/24. Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, emphasized the importance of enabling the business environment to attract Foreign Direct Investments and promoting the private sector to create more jobs aligned with the...
Hazardous substance fire reported in Berlin's Lichterfelde neighborhood
By Globe Banner | May 3, 2024
Local authorities in Berlin have reported a fire involving hazardous substances in the Lichterfelde neighborhood.
Greater Investment in Education Key to Driving Stronger Economic Growth, Economic Diversification
By Globe Banner | May 3, 2024
PORT MORESBY, May 2, 2024 – Papua New Guinea’s economy is forecast to accelerate in 2024 after a slowdown last year, yet greater investment in education is critical to the country’s longer-term economic future, a World Bank report released on Thursday says.According to the World Bank's Papua New Guinea Economic Update: Invest in Your Children report, the economic growth in Papua New Guinea is projected to rise to 4.8% this year from 2.7% in 2023 after the reopening of the Porgera gold mine. However, growth is expected to remain below its pre-pandemic trajectory.World...
Workshop on WTO Government Procurement Agreement concludes in Geneva
By Globe Banner | May 3, 2024
A workshop on the World Trade Organization (WTO) Government Procurement Agreement (GPA) concluded in Geneva on May 3, 2024. The event, held in celebration of the 10th anniversary of the entry into force of the GPA 2012, featured insightful discussions and practical exercises aimed at enhancing understanding and implementation of the agreement.During the opening session on April 29, WTO Deputy Director-General Johanna Hill emphasized the significance of the GPA 2012 in promoting sustainable development and fostering mutual benefits for exporters and governments involved in...
Improving Education Infrastructure and Quality in Togo
By Globe Banner | May 3, 2024
Lavié Péniel, May 3, 2024 - "Before the construction of this new building, many children had abandoned our school because the classrooms were made of tree trunks, sheet metal and foliage, and provided no shelter from the rain. When it rained, we had to send them home and so the school day was cut short. Today, I am proud to have a school with a solid structure, one worthy of being called ‘school!’ Some students have gradually returned, and the number of students will increase further at the start of the next school year," said Dabitora Saguintaah-Tiwarka, the principal of...
NPCI International Payments Limited, Bank of Namibia create partnership to develop instant payment system
By Globe Banner | May 2, 2024
The National Payments Corporation of India (NPCI) has recently declared a collaboration with the Bank of Namibia (BoN). The purpose of this partnership is to assist the Bank of Namibia in establishing its own payment system.
Sixth annual WIBA Awards comes to Cannes Film Festival
By Globe Banner | May 2, 2024
The World Influencers and Bloggers Awards (WIBA) is set to take place on May 24 at Hotel Martinez in Cannes, France. The event honors various social media personalities with accolades such as Best Pet Influencer and Best Beauty Influencer.
World Bank Funds $68 Million Project in The Gambia to Boost Agricultural Productivity
By Globe Banner | May 2, 2024
The World Bank has approved a $68.00 million financing for The Gambia Inclusive and Resilient Agricultural Value Chain Development (GIRAV Project), with part of the funding coming from the International Development Association Crisis Response Window.Aifa Fatimata Ndoye Niane, Senior Agriculture Economist and Project Task Team Leader, highlighted the importance of the funding, stating, “This funding boost for GIRAV will address various critical needs: replenishing diverted resources, tackling food crises with climate-smart solutions, enhancing rural infrastructure for...
Zimmer Biomet Reports Positive First Quarter Financial Results
By Globe Banner | May 2, 2024
Zimmer Biomet Holdings, Inc. has announced its financial results for the first quarter of 2024, with net sales reaching $1.889 billion, marking a 3.2% increase over the previous year period. The company also reported a 4.4% increase on a constant currency basis. Diluted earnings per share for the first quarter were $0.84, with adjusted diluted earnings per share at $1.94.In a statement, Ivan Tornos, Zimmer Biomet's President and Chief Executive Officer, expressed satisfaction with the team's performance, stating, "We are very pleased with the execution, progress, and...
ATI Names Netta Washington to Lead HPMC Segment
By Globe Banner | May 2, 2024
ATI Inc. (NYSE: ATI) has appointed Netta Washington as the new Executive Vice President to lead the company's High Performance Materials and Components (HPMC) segment, as reported on May 2, 2024.In an official statement, ATI President and Chief Operating Officer Kimberly A. Fields expressed confidence in Washington's abilities, stating, "Through Netta's leadership, we'll continue to drive growth, earnings and cash flow in Forged Products and Specialty Materials." Fields also highlighted Washington's impressive track record in operational performance and revenue growth...
Futuristic AI Requires Futuristic Data Centers, Experts Urge Investment Surge
By Globe Banner | May 2, 2024
Experts in the tech industry are urging for a surge in investment towards futuristic data centers to support the growing demand for AI-powered technologies. William Hisey, CEO of Avant Technologies Inc., emphasized the importance of integrating AI with Zero Trust Architecture for robust data center security, stating, "By integrating AI with Zero Trust Architecture, we are creating a robust and future-proof security framework for our data centers."Hisey, who recently took on the role of CEO at Avant, expressed his enthusiasm for the company's advancements in the AI space,...
Enterprise AI Market Projected to Reach $171.2 Billion by 2031
By Globe Banner | May 2, 2024
The Enterprise AI market is set to reach a value of $171.2 billion by the year 2031, according to an exclusive report by Meticulous Research®. The report provides valuable insights into the growth and trends of the industry, indicating a promising future for AI technology in enterprise settings.As stated by Meticulous Research®, "The Enterprise AI market is expected to witness significant growth in the coming years, reaching a value of $171.2 billion by 2031."This projection highlights the increasing adoption and integration of AI solutions in various sectors and...
VULCAN REPORTS FIRST QUARTER 2024 RESULTS
By Globe Banner | May 2, 2024
BIRMINGHAM, Ala., May 2, 2024 /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, today announced results for the quarter ended March 31, 2024.Financial Highlights Include:Tom Hill, Vulcan Materials' Chairman and Chief Executive Officer, expressed satisfaction with the company's performance, stating, "Our teams' solid execution helped us overcome challenging weather conditions throughout much of the first quarter." He highlighted that despite lower aggregates shipments, margins expanded, demonstrating the...
Jones Walker Expands Healthcare Industry Team
By Globe Banner | May 2, 2024
NEW ORLEANS, May 2, 2024 /PRNewswire/ -- Jones Walker LLP has announced the addition of Greg Schafer and Valerie Fontenot as special counsel in the firm's Litigation Practice Group and members of the firm's growing Healthcare Industry Team in the New Orleans office.Bill Hines, the managing partner of Jones Walker, expressed enthusiasm about the new additions, stating, "Greg's vast experience in litigation and Valerie's deep knowledge of the intricately involved medical industry will strengthen the firm's ability to support our clients in the healthcare sector."Greg...
Afghanistan’s Economic Decline Continues but Private Sector Can Support Growth, Says World Bank
By Globe Banner | May 2, 2024
WASHINGTON, May 2, 2024—Afghanistan's economic outlook remains uncertain, with the threat of stagnation looming large until at least 2025, says the World Bank in its latest Afghanistan Development Update.The report, Navigating Challenges: Confronting Economic Recession and Deflation, notes that a 26 percent contraction in real GDP growth, coupled with declining external financing avenues for off-budget expenditures, paints a stark picture of Afghanistan’s economic prospects. Structural deficiencies in the private sector, together with waning international support for...
World Bank Announces New Strategy to Promote Green, Resilient and Inclusive Development in Jamaica
By Globe Banner | May 2, 2024
Washington, D.C., May 2, 2024 – The World Bank Group’s Board of Directors has endorsed a new strategic partnership for Jamaica aimed at promoting green, resilient, and inclusive development over the 2024-2027 period. The strategy focuses on advancing various aspects of development while also supporting the government's efforts towards debt reduction and fiscal resilience.Jamaica's Minister of Finance and the Public Service, Nigel Clarke, emphasized the importance of sustaining macroeconomic stability and fiscal sustainability while driving economic expansion. Clarke...