News from 2024
NCUA prohibits former credit union employee from working in federally insured institutions
By Globe Banner | Aug 30, 2024
The National Credit Union Administration (NCUA) has permanently prohibited Luz Araceli Davila-Hernandez, a former employee of Magnifi Financial Credit Union in Melrose, Minnesota, from participating in the affairs of any federally insured depository institution. This action was taken through an Order of Prohibition.
World Bank warns against fraudulent scheme in DR Congo
By Globe Banner | Aug 30, 2024
KINSHASA, August 30, 2024: Following recent reports linking an entity calling itself "Pan-African Investment Program" to the World Bank in the Democratic Republic of Congo, the World Bank is warning the general public of ongoing scams. This entity claims to be recruiting local companies for a project to "build ten schools per province," falsely associated with World Bank financing.
U.S. Embassy extends vehicle procurement bid deadline in Ashgabat
By Globe Banner | Aug 30, 2024
The United States Embassy in Turkmenistan has announced an extension for the solicitation RFQ: PR12732344 concerning the procurement of a cargo van and warehouse box truck for the Ashgabat Post.
Tokenization of real-world assets poised for rapid growth, report finds
By Globe Banner | Aug 29, 2024
A report by Roland Berger in October 2023 announced the market value of tokenized assets is projected to surpass $10 trillion by 2030, signaling significant growth and adoption.
Binance CEO on employee detained in Nigeria: 'authorities are refusing to provide him access to his legal counsel'
By Globe Banner | Aug 29, 2024
Binance CEO Richard Teng stated that Tigran Gambaryan, the company's head of financial crime compliance who has been detained in Nigeria since February 26, is being denied appropriate medical care, legal counsel, and consular access. Teng shared his statement in an August 27 post on Binance's website.
Digital technology's role in transforming global food systems
By Globe Banner | Aug 29, 2024
The global food system faces significant challenges, with inefficiencies and waste prevalent despite increased output. Abundance and hunger coexist, highlighting a core issue: unequal access to information among farmers and within markets. These inflexible systems result in high transaction costs.
FFIEC issues updated IT guidance for financial institutions
By Globe Banner | Aug 29, 2024
The Federal Financial Institutions Examination Council (FFIEC) has released a new booklet aimed at aiding examiners in assessing information technology practices within financial institutions. The "Development, Acquisition, and Maintenance" booklet outlines fundamental examination expectations related to development and acquisition planning and execution, governance and risk management, as well as maintenance and change management practices.
World Bank highlights gaps in climate finance among emerging market banks
By Globe Banner | Aug 29, 2024
WASHINGTON, August 29, 2024 — In almost 60% of banks in Emerging Market and Developing Economies (EMDEs), lending for climate-related investment accounts for less than 5% of their overall portfolios, and more than one-quarter offer no climate financing at all, according to a new World Bank report.
World Bank aids Batken region in post-conflict recovery
By Globe Banner | Aug 29, 2024
Баткенская область Кыргызской Республики, расположенная на юго-западе страны и граничащая с Таджикистаном и Узбекистаном, известна своими горными пейзажами и культурным разнообразием. Однако этот регион остается малоразвитым и сталкивается с серьезными вызовами, особенно после конфликта вдоль кыргызско-таджикской границы в сентябре 2022 года. Конфликт привел к гибели десятков людей и разрушению объектов социальной инфраструктуры, таких как школы, детские сады и медицинские учреждения. Этот кризис значительно повлиял на местных жителей, нарушив процесс обучения и ограничив...
U.S economy shows growth as GDP rises by three percent
By Globe Banner | Aug 29, 2024
Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP increased by 1.4 percent.
World Bank aids Kyrgyz Republic's post-conflict recovery
By Globe Banner | Aug 29, 2024
The Kyrgyz Republic’s Batken region, located in the country’s southwest and bordering both Tajikistan and Uzbekistan, is celebrated for its mountainous landscapes and rich cultural diversity. However, this remote area remains underdeveloped and has faced significant challenges, particularly following conflict along the Kyrgyz-Tajik border in September 2022, which claimed dozens of lives and caused damage, destruction, and closure of public infrastructure like schools, kindergartens, and health clinics. This significantly impacted local children and families, disrupting...
US citizen’s 6 month detention in Nigeria alarms international business community
By Globe Banner | Aug 28, 2024
The six month detention of Tigran Gambaryan, a U.S. citizen and former federal agent, now employed by cryptocurrency exchange Binance, is raising concerns about Nigeria’s international business reputation and its attractiveness to foreign investors.
World Bank calls for better-targeted agricultural subsidies
By Globe Banner | Aug 28, 2024
The bulk of government support to agriculture provides short-term benefits that are often at the cost of long-term outcomes for people, economies, and the planet. Globally, agriculture receives more than $700 billion a year in public support. Much of this is poorly targeted: each subsidized dollar farmers receive generates only 35 cents in additional output. Agricultural policies play a critical role in the development of resilient food supply chains. But many policies create incentives that favor unsustainable production, increasing emissions, accelerating land degradation,...
USTR delegation visits Quito for ministerial meeting on Americas partnership
By Globe Banner | Aug 28, 2024
A delegation from the Office of the United States Trade Representative, led by Ambassador Katherine Tai, visited Quito this week.
Mobilizing capital for development in agriculture
By Globe Banner | Aug 28, 2024
Transforming food systems to reduce carbon emissions and achieve the Sustainable Development Goals requires a significant increase in investment across the agricultural value chain. Large, coordinated flows of public and private capital are needed to address decades of underinvestment and meet current and future challenges.
Blinken highlights US-Ecuador partnership on National Day
By Globe Banner | Aug 28, 2024
On August 10, 2024, U.S. Secretary of State Antony J. Blinken issued a statement in recognition of Ecuador's National Day.
U.S. Embassy invites citizens to open house on September 17
By Globe Banner | Aug 28, 2024
U.S. citizens are invited to an open house event at the U.S. Embassy in Bratislava on September 17, 2024, from 4:00 to 5:30 PM.
U.S. introduces tool to assess illegal gold mining impact in Amazon
By Globe Banner | Aug 28, 2024
The United States Government recently introduced the Illegal Gold Mining Impact Calculator in Quito, aiming to highlight the economic, social, and environmental impacts of illegal gold mining.
Arthur W. Brown takes role as new U.S. ambassador to Ecuador
By Globe Banner | Aug 28, 2024
The new U.S. Ambassador to Ecuador, Arthur W. Brown, has arrived in Quito to lead the U.S. Diplomatic Mission in both Quito and Guayaquil.
The Digital Chamber: Negative business sentiment in Nigeria could 'help lead the effort to bring Tigran home'
By Globe Banner | Aug 27, 2024
The Digital Chamber (TDC) has expressed concerns that the departure or potential departure of companies from Nigeria could pressure the Nigerian government to release Tigran Gambaryan, the head of financial crime compliance at Binance. Gambaryan has been imprisoned for nearly six months. TDC shared its statement in an August 22 post on X.