News from 2024
World Bank supports Serbia's real estate management with $32.5M loan
By Globe Banner | Jul 29, 2024
The World Bank’s Board of Executive Directors has approved a EUR30 million ($32.5 million equivalent) loan for the Second Real Estate Management Project, aimed at enhancing Serbia's real property management systems.
Business leaders outline priorities ahead of Hungarian EU presidency
By Globe Banner | Jul 28, 2024
The Presidents and Directors General of BusinessEurope’s member federations convened in Budapest today, hosted by the Hungarian member federation MGYOSZ – BusinessHungary. The gathering aimed to communicate business priorities for the European Union as Hungary prepares to assume the Presidency of the Council of the European Union. Key discussions were held with Tamás Sulyok, President of Hungary, Màrton Nagy, Minister for the National Economy of Hungary, and Enrico Letta, author of a recent report on the future of the Single Market.
Biden discusses Gaza crisis with Jordan's King Abdullah II
By Globe Banner | Jul 28, 2024
President Joseph R. Biden, Jr. held a conversation with His Majesty King Abdullah II of Jordan to discuss the ongoing humanitarian efforts in Gaza and other regional issues.
Town hall meeting for U.S. citizens scheduled in Quetzaltenango
By Globe Banner | Jul 28, 2024
The U.S. Embassy's American Citizen Services unit has announced a Town Hall Meeting for U.S. citizens in Quetzaltenango, Guatemala.
Pilot program launched in Lebanon supports economic empowerment for low-income households
By Globe Banner | Jul 26, 2024
BEIRUT, July 25, 2024 – The Ministry of Social Affairs, the René Moawad Foundation, and the World Bank launched today the Productive Economic Inclusion in Lebanon (PEIL) program. This pilot initiative aims to improve the livelihoods of 1,500 low-income Lebanese households who are current beneficiaries of the Emergency Social Safety Net Program (ESSNP). Funded by a $2.7 million grant from the Japan Social Development Fund, the PEIL program complements the ESSNP by providing services aimed at enhancing household income, welfare, and resilience.
World Bank highlights women's empowerment in Sub-Saharan Africa
By Globe Banner | Jul 26, 2024
Saying that women are vital to ending poverty is particularly relevant in Sub-Saharan Africa. Despite the devastating social and economic effects of the COVID-19 pandemic, women in Western and Central Africa have been challenging norms and stereotypes.
WTO Dispute Panels Established Over EU Citrus Import Measures
By Globe Banner | Jul 26, 2024
South Africa has submitted its second requests for two panels in disputes it initiated concerning European Union regulations governing the importation of citrus fruits. These measures, aimed at controlling the spread of the insect Thaumatotibia leucotreta (False Codling Moth) and the fungus P. citricarpa (citrus black spot), have impacted South African citrus imports. The EU previously declined South Africa's first requests at a DSB meeting on 24 June.
Mauritania's economy shows resilience amid global challenges but faces long-term structural issues
By Globe Banner | Jul 26, 2024
Nouakchott, July 26, 2024 – Despite a slowdown in economic growth in 2023, lower inflation and improved fiscal and external balances have helped strengthen Mauritania's macroeconomic stability. Although growth has moderated, it remains above the global average and that of Sub-Saharan Africa.
Poll by Vapor Technology Association: 'Voters favor commonsense reform over outright bans'
By Globe Banner | Jul 26, 2024
A poll conducted by Kellyanne Conway on proposed e-cigarette bans indicated that "voters favor commonsense reform over outright bans." Conway's statement was shared in a Vapor Technology Association (VTA) press release on July 8.
World Bank releases economic update on Mauritania’s slowdown
By Globe Banner | Jul 26, 2024
NOUAKCHOTT, July 26, 2024 - The World Bank has released the seventh edition of its Economic Update for Mauritania, highlighting a slowdown in economic growth in 2023 despite strengthened macroeconomic stability.
U.S. Embassy in Turkmenistan seeks bids for new vehicle acquisition
By Globe Banner | Jul 26, 2024
The U.S. Embassy in Turkmenistan has announced a solicitation for quotations regarding the procurement of a new vehicle for OBO Ashgabat, identified as PR12613060.
WTO concludes advanced trade policy course for Spanish-speaking officials
By Globe Banner | Jul 26, 2024
The advanced trade policy course for Spanish-speaking officials, organized by the World Trade Organization (WTO), concluded in Geneva on July 26, 2024. Participants engaged in workshops, case studies, and roundtable discussions to learn about current trade issues and WTO discussions, enhancing their expertise in applying trade agreements. The course also provided opportunities to interact with Geneva-based WTO member representatives, experts from other international organizations, and representatives from the WTO Secretariat.
Asia's emerging manufacturers urged to prioritize sustainability
By Globe Banner | Jul 25, 2024
Asian countries may face setbacks in their manufacturing ambitions if they fail to produce more sustainably from the outset and decarbonize swiftly. This warning comes as emerging manufacturing powerhouses in Asia look to emulate China's success while grappling with environmental challenges.
Informal Working Group welcomes Gambia launches online policy tool
By Globe Banner | Jul 25, 2024
The formal participation of the Gambia in the Informal Working Group on Trade and Gender (IWG) officially commenced on July 1, 2024. "This milestone reflects our commitment to promoting gender equality and empowering women," said Kemo Janka of the Gambia's Ministry of Trade, Industry, Regional Integration and Employment. "We recognize that trade is a powerful engine for growth and development. By integrating gender considerations into our trade policies, we can create a more inclusive and equitable economy," he added.
Slovakia welcomes first F-16 jets amid strengthening ties with US
By Globe Banner | Jul 25, 2024
President Pellegrini, Deputy Prime Minister Kalinak, Deputy Prime Minister Kmec, Minister Blanar, General Zmeko, General Stohler, General Doyle, and other distinguished guests gathered to mark the arrival of Slovakia's first F-16 fighter jets.
Slovakia welcomes first F-16 jets amid military modernization efforts
By Globe Banner | Jul 25, 2024
President Pellegrini, Deputy Prime Minister Kalinak, Deputy Prime Minister Kmec, Minister Blanar, General Zmeko, General Stohler, General Doyle, and other distinguished guests gathered for a ceremony marking the arrival of Slovakia's first F-16...
World Bank approves €599.1 million loan for green growth in Romania
By Globe Banner | Jul 25, 2024
The World Bank Group Board of Executive Directors approved a Development Policy Loan (DPL) for Romania amounting to €599.1 million. The Romania Fiscal Management and Green Growth DPL aims to strengthen the country's fiscal framework, promote green and inclusive growth, and stimulate private-sector investment.
WTO Deputy Director-General emphasizes organization's role amid rising geopolitical tensions
By Globe Banner | Jul 25, 2024
DDG Hill highlighted the resilience of international trade in the face of polycrises over the last few years. At the end of 2023, merchandise trade in real terms was 6% above its pre-pandemic peak and up 19% compared to 2015. According to the WTO's recent trade forecast, global goods trade is expected to gradually recover by increasing 2.6% this year after a 1.2% contraction in 2023.
Malawi faces economic hurdles amid drought; urgent reforms needed
By Globe Banner | Jul 25, 2024
LILONGWE, July 25, 2024 – A drought and an incomplete reform agenda are undermining prospects for a rapid economic recovery in Malawi. Economic growth in Malawi fell short of expectations in 2023 and is projected to remain subdued in 2024. While the implementation of planned macroeconomic and structural reforms is expected to boost GDP growth over the medium term, an El Niño-induced drought has worsened the near-term growth outlook. The drought has compounded longstanding macroeconomic imbalances, with large fiscal deficits, balance-of-payments challenges, unsustainable debt,...
Community efforts revive abandoned center near Valle Nuevo National Park
By Globe Banner | Jul 25, 2024
At the border of Valle Nuevo National Park in the Dominican Republic, an abandoned community center known as “Las Golondrinas” stands as a testament to unfulfilled aspirations. Named after the endemic bird species residing in the park, the center was built in 2010 to foster social connections and promote conservation efforts for Valle Nuevo National Park.