News from 2024
IDA supports low-income countries' investments in sustainable nature management
By Globe Banner | Oct 17, 2024
For many low-income countries, nature offers a pathway out of poverty. Nature-based sectors such as forestry, fisheries, and ecotourism have the potential to create jobs, boost economies, and increase resilience to climate change if managed sustainably. However, these countries are also at risk from the current unprecedented loss of nature. Losing just a few key ecosystem services could result in a 10 percent GDP loss annually by 2030 for these nations. Recent development gains in many low-income countries are being undermined by nature degradation, pollution, and climate...
WTO concludes advanced workshop on agriculture notifications
By Globe Banner | Oct 17, 2024
The World Trade Organization (WTO) has concluded the second phase of its advanced workshop on agriculture notifications. The two-day program, held in October 2024, provided practical training sessions that built upon the first phase conducted a year earlier. Participants received an overview of the WTO's agricultural notification requirements, focusing particularly on market access and domestic support notifications. They were also guided on using the WTO's Agriculture Information Management System.
World Bank projects moderate economic growth acceleration in Western Balkans through 2025
By Globe Banner | Oct 17, 2024
Economic growth in the Western Balkans is anticipated to moderately accelerate through 2025, as per the latest report by the World Bank. The report suggests that increased consumption and investment, along with enhanced purchasing power, are key factors driving this growth.
German start-up investments rise significantly in Q3
By Globe Banner | Oct 17, 2024
In the third quarter of 2024, German start-ups experienced a resurgence in capital investment, with more than EUR 2 billion invested by both domestic and international providers.
World Bank highlights need for educational reform amid slowing economic growth
By Globe Banner | Oct 17, 2024
Economic growth in the developing economies of Europe and Central Asia is stabilizing after recent crises, according to the World Bank's Economic Update for the region. The report, released today, indicates that regional growth is expected to moderate to 3.3% this year from 3.5% in 2023, with a further slowdown to 2.6% anticipated in 2025.
Jordan expands national aid fund program amid rising needs
By Globe Banner | Oct 17, 2024
In the Middle East and North Africa, Jordan's National Aid Fund (NAF) Cash Transfer Program is seen as an effective initiative for improving lives and opportunities. Supported by the World Bank and other partners, it has expanded its reach and impact. The program is recognized for its innovation and collaborative efforts.
World Bank urges continuation of Nigerian economic reforms amid challenges
By Globe Banner | Oct 17, 2024
Since May 2023, Nigeria has undertaken substantial economic reforms aimed at stabilizing its economy. These efforts have led to modest growth, improved fiscal health, and increased foreign exchange reserves. However, the reforms have also brought short-term challenges for households and businesses. The World Bank's Nigeria Development Update Report, titled "Staying the Course: Progress Amid Pressing Challenges," emphasizes the importance of maintaining these policies while addressing structural issues to combat inflation and promote long-term investment, growth, and job...
The Crypto Town Hall: 'Binance Blockchain Week 2024: A powerhouse event for crypto innovation'
By Globe Banner | Oct 17, 2024
The Crypto Town Hall announced that the Binance Blockchain Week Dubai 2024, themed "Momentum," is poised to be a significant event for cryptocurrency innovation. This statement was made in an October 5 post on X.
Former Binance CEO to attend Blockchain Week Dubai
By Globe Banner | Oct 17, 2024
Changpeng Zhao, founder and former CEO of Binance, announced his attendance at the upcoming Binance Blockchain Week in Dubai, scheduled for October 30-31. Zhao made this announcement on October 10 via a post on X.
Binance Announces Blockchain Week Dubai 2024
By Globe Banner | Oct 17, 2024
Binance has announced that its upcoming event, Binance Blockchain Week Dubai 2024, will take place on October 30-31. Themed "Momentum," the event will focus on the industry's progress since the previous gathering in Istanbul. Key developments in blockchain will be addressed on the main stage.
Uber empowers drivers with new tools to handle disrespectful riders and prevent unfair deactivations
By R. B. Pepalis | Oct 16, 2024
Uber Technologies, Inc. is introducing new features that empower drivers to manage their interactions with riders more effectively.
Vaping Rights and the 2024 Election: A Potential Swing Issue?
By Globe Banner | Oct 16, 2024
As the 2024 election approaches, vaping industry advocate Tony Abboud warns that Democratic efforts to crack down on vaping products and smoking alternatives could backfire in key swing states. According to Abboud, a significant number of voters see access to tobacco alternatives as a decisive issue, particularly in light of recent moves by state and federal governments to limit their availability.
Burkina Faso joins WTO effort against harmful fishing subsidies
By Globe Banner | Oct 16, 2024
Burkina Faso has officially ratified the Agreement on Fisheries Subsidies, becoming the 85th member of the World Trade Organization (WTO) to do so. This step highlights Burkina Faso's commitment to international obligations, as emphasized by Minister Traoré: “Burkina Faso's ratification of the Agreement on Fisheries Subsidies is testimony to the emphasis our country places on honouring its international commitments, in this case its WTO commitments."
Middle East and North Africa face economic challenges amid conflicts
By Globe Banner | Oct 16, 2024
World Bank economists project a 2.2% growth rate for the Middle East and North Africa (MENA) region in 2024, according to the latest MENA Economic Update. This slight increase from the previous year conceals significant differences between high-income oil exporters and other developing economies within the region. The report highlights that real GDP growth forecasts have been notably reduced due to ongoing regional uncertainties, including conflict in Gaza and potential escalations in neighboring areas.
Liechtenstein supports EIF Interim Facility with CHF 40,000 donation
By Globe Banner | Oct 16, 2024
Liechtenstein has become the sixth donor to the Enhanced Integrated Framework (EIF) Interim Facility, contributing CHF 40,000. This facility was established to support Least Developed Countries (LDCs) during the transition period until a new multilateral support mechanism is operational.
World Bank report highlights gender pay gap issues facing Armenian women
By Globe Banner | Oct 16, 2024
Less than half of working-age women in Armenia are part of the labor force, primarily due to caregiving responsibilities for children and disabled family members. Those who do work earn, on average, 25 to 30 percent less than their male counterparts performing the same tasks. This is according to a new report released by the World Bank.
World Bank forecasts modest economic growth for MENA amid regional conflicts
By Globe Banner | Oct 16, 2024
Growth in the Middle East and North Africa (MENA) remains modest due to regional conflicts, according to the World Bank's latest MENA Economic Update titled "Growth in the Middle East and North Africa." The report predicts a slight increase in the region’s overall GDP growth from 1.8 percent in 2023 to 2.2 percent in 2024, driven by Gulf Cooperation Council (GCC) countries, where growth is expected to rise from 0.5 percent to 1.9 percent.
BusinessEurope outlines priorities for EU social policy through 2029
By Globe Banner | Oct 16, 2024
BusinessEurope has released its priorities for the European Union's social policy over the next five years. The document was presented to European Commission President Ursula Von der Leyen, Executive Vice-President Valdis Dombrovskis, and European Commissioner for Jobs and Social Rights Nicolas Schmit during a meeting with the European Social Partners.
World Bank introduces new partnership framework focusing on Cambodia's development
By Globe Banner | Oct 16, 2024
The World Bank Group has introduced a new Country Partnership Framework (CPF) for Cambodia, set to guide efforts from 2025 to 2029. This initiative aims to tackle three interconnected objectives: enhancing health and basic education, boosting competitiveness, and reinforcing the resilience of vulnerable households.
WTO opens registration for US-Argentina tubular goods dispute hearing
By Globe Banner | Oct 16, 2024
The World Trade Organization (WTO) has opened registration for the second public hearing in the dispute between the United States and Argentina regarding tubular goods. The hearing is scheduled to begin at 9:00 AM Geneva time on November 19, 2024, and may continue until 5:00 PM. It will resume at the same time on November 20.