News from 2024
Biden reflects on October 7th attack anniversary
By Globe Banner | Oct 7, 2024
President Joe Biden issued a statement marking the one-year anniversary of the October 7th attack in southern Israel.
World Cotton Day highlights economic successes under President Talon's leadership
By Globe Banner | Oct 7, 2024
This year's World Cotton Day, held for the first time on African soil, highlighted Benin's economic achievements under President Guillaume Athanase Talon's leadership. Director-General Okonjo-Iweala commended Benin for its robust economic performance and effective management.
Binance announces inclusion in Argentina's virtual asset registry
By Globe Banner | Oct 5, 2024
Binance has announced its incorporation into Argentina's Virtual Asset Service Providers Registry by the National Securities Commission (CNV), marking its 20th regulatory milestone worldwide. This development allows Binance to expand its full range of services to users in Argentina.
Congressman on constituent imprisoned in Nigeria: 'I don't know if they don't have the ability to treat him or they just don't wish to'
By Globe Banner | Oct 4, 2024
Congressman Rich McCormick, who is also a licensed physician, expressed concern about the physical and mental health of his constituent Tigran Gambaryan, detained in Nigeria since February. McCormick shared his statement during an October 1 podcast.
World Bank approves $800 million support for Uzbekistan's reform initiatives
By Globe Banner | Oct 4, 2024
The World Bank's Board of Executive Directors has approved an $800 million financial package in concessional loans to support Uzbekistan's reform agenda. The aim is to facilitate the country's transition to a more inclusive and resilient market economy.
Nigeria addresses high maternal mortality with new initiatives
By Globe Banner | Oct 4, 2024
Hajiya A'ishatu, a resident of Tudun-Wada city in Nigeria's Gombe State, shares her gratitude for the care she received at the Tudun Wada Primary Health Care Facility. "I had all my children in this facility," she says. "My family is grateful for everything the doctors and nurses did for us here." Her experience reflects Nigeria's ongoing efforts to improve maternal and child health services, particularly in underserved areas.
World Bank approves EUR 80 million loan for Montenegro's fiscal stability
By Globe Banner | Oct 4, 2024
The World Bank Group's Board of Executive Directors has approved a EUR 80 million loan to Montenegro. The funding aims to bolster fiscal sustainability and promote sustainable development in the country. This initiative, known as the Montenegro First Resilient Fiscal and Sustainable Development Policy Financing (DPF), seeks to enhance revenue generation, improve spending oversight, reduce fiscal risks, and address environmental degradation and climate change challenges.
IMF, World Bank Group, WHO collaborate on global pandemic preparedness
By Globe Banner | Oct 4, 2024
The International Monetary Fund (IMF), the World Bank Group (WBG), and the World Health Organization (WHO) have announced a collaborative effort to enhance pandemic preparedness. This initiative aims to provide countries with increased support in preventing, detecting, and responding to public health threats through various means including the IMF’s Resilience and Sustainability Trust (RST), WBG’s financial and technical assistance, and WHO’s expertise.
Fmr. Moldova Economic Minister: ‘Sovereignty bus tour highlights the struggle between holding onto identity and embracing change’
By Globe Banner Reports | Oct 3, 2024
The former minister of economy for Moldova said that a “sovereignty” bus tour that launched this week is a “reminder” that the country needs “more time to decide whether the EU is right” for Moldova.
Uber announces additional safety features for drivers, couriers
By M. N. Tirado | Oct 3, 2024
On September 17, Uber announced a number of new safety features to increase protection and security for its drivers and couriers.
World Bank approves $250 million project for renewable energy in Lebanon
By Globe Banner | Oct 3, 2024
The World Bank has approved a $250 million project aimed at enhancing renewable energy in Lebanon by restoring electricity grid services and supporting ongoing reforms. This decision comes as Lebanon's electricity sector faces significant operational and financial challenges due to recent crises.
World Bank report reveals gaps between regulations and public services in global economies
By Globe Banner | Oct 3, 2024
The World Bank Group's newly released Business Ready report highlights a disparity between regulatory frameworks and public services across 50 economies. While many nations have established regulations to enhance the business environment, they fall short in delivering the necessary public services to ensure tangible progress. The report evaluates each economy with 1,200 indicators, providing insights into areas requiring improvement and encouraging reforms.
World Bank launches plan targeting gender inequalities in Sierra Leone
By Globe Banner | Oct 3, 2024
The World Bank has introduced the Sierra Leone Country Gender Action Plan (C-GAP), a strategy aimed at reducing gender inequalities and promoting equality across various sectors in Sierra Leone. This initiative is aligned with the World Bank Group’s Sierra Leone Country Partnership Framework for 2021-2026 and the WBG Gender Strategy for 2024-2030.
U.S. Bureau reports rise in personal consumption expenditures across all states
By Globe Banner | Oct 3, 2024
Personal consumption expenditures (PCE) saw an increase across all 50 states and the District of Columbia in 2023, as reported by the U.S. Bureau of Economic Analysis. The changes varied, with Florida experiencing the highest increase at 8.1 percent, while Iowa had the lowest at 4.7 percent. On a national scale, current-dollar PCE rose by 6.4 percent in 2023 following a 9.8 percent rise in 2022.
U.S. ambassador discusses economic cooperation with Ecuador's labor minister
By Globe Banner | Oct 3, 2024
Ambassador Art Brown and Minister of Labor, Ivonne Núñez, recently engaged in discussions focused on U.S. cooperation in projects aimed at promoting economic prosperity to enhance employment opportunities.
Nuveen Real Assets Head of Strategic Insights: 'Demand for real assets is built on long-term megatrends'
By B. B. Urness | Oct 3, 2024
Abigail Dean, Global Head of Strategic Insights for Nuveen Real Assets said that demand for real assets is increasingly driven by megatrends like urbanization and energy needs. With inflation stabilizing and interest rates holding steady, she sees this as an opportune moment for investors to reenter the market, as corporate prices may be at a low point while natural capital shows continued value gains.
CEO of Arrow Global: As governments embrace populist fiscal policies 'there will be pressure on central banks to act as a force of restraint'
By A. D. Bamburg | Oct 3, 2024
Private credit is rapidly transforming the financial landscape as high interest rates and regulatory changes create new opportunities for investors. Zach Lewy, CEO of Arrow Global, warns that inflation and high interest rates, coupled with the rise of populist and expansionary fiscal policies, will pressure central banks to act as a force of restraint.
Private credit market surges: a $2 trillion opportunity in the global Financial landscape
By A. A. Sanchez | Oct 3, 2024
A report released on September 24 by McKinsey & Company highlights the rapid growth of private credit assets, which have reached nearly $2 trillion globally. This expansion underscores significant opportunities for investors as nonbank lending solutions continue to proliferate across international markets.
Preqin announces report on resilience of private equity in India
By R. B. Pepalis | Oct 3, 2024
Preqin has released a report highlighting the increasing significance of private equity in India, a market traditionally dominated by venture capital. Despite challenges posed by global economic conditions and declining investor sentiment, private equity investments have demonstrated resilience.
Binance announces full digital asset license in Kazakhstan
By Globe Banner | Oct 3, 2024
Binance has announced that its Kazakhstan branch has received a full Digital Asset Trading Facility (DATF) license. This approval allows Binance to operate a trading platform, offer broker-dealer services, and provide custody for digital assets.