News from 2024
Amazon improves workplace safety
By A. A. Sanchez | Jul 21, 2024
Amazon reports that the company’s recordable incident rate (RIR), which reflects work-related injuries requiring more than basic first-aid treatment, has improved by 30% since 2019 and by 8% year over year (YoY). Amazon has released the data as part of its pledge to be more transparent with its operations.
Guilherme Nazar moves to Head of Latin America at Binance
By Globe Banner | Jul 20, 2024
Guilherme Nazar was recently named Head of Latin America at Binance. He was the General Manager of Binance Brazil at the time of his appointment, according to the company's July 15 news release.
Federal agencies seek comments on updated anti-money laundering rules
By Globe Banner | Jul 19, 2024
Four federal financial institution regulatory agencies have requested public comment on a proposal to update requirements for supervised institutions to establish, implement, and maintain effective anti-money laundering and countering the financing of terrorism (AML/CFT) programs. These amendments aim to align with changes proposed by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), stemming from the Anti-Money Laundering Act of 2020 (AML Act).
World Bank approves $21M for financial stability and climate resilience in Marshall Islands
By Globe Banner | Jul 19, 2024
The World Bank’s Board of Executive Directors has approved a new support package aimed at strengthening fiscal management and enhancing disaster and climate resilience in the Republic of the Marshall Islands (RMI). The initiative, valued at US$21 million in grants, seeks to address long-term challenges posed by climate change, population decline, and a limited private sector.
Benin and Sierra Leone accept fisheries subsidies agreement
By Globe Banner | Jul 19, 2024
Benin and Sierra Leone have formally accepted the Agreement on Fisheries Subsidies, increasing the total number of World Trade Organization (WTO) members to 80. This milestone was announced by Director-General Okonjo-Iweala, who emphasized the significance of this support from least-developed members in promoting ocean sustainability and combating illegal fishing.
Bosnia marks three decades of partnership with World Bank
By Globe Banner | Jul 19, 2024
Since 1993, the World Bank Group has been a partner to Bosnia and Herzegovina, fostering a lasting collaboration. Bosnia and Herzegovina has witnessed the benefits of international development support, enabling it to achieve upper-middle-income status. Today, the World Bank Group and Bosnia and Herzegovina remain dedicated to advancing the economy, enhancing living standards, and supporting the country’s aspirations to join the European Union.
NCUA Board approves rules on incentive-based compensation; maintains loan interest rate ceiling
By Globe Banner | Jul 18, 2024
The National Credit Union Administration (NCUA) Board convened its fifth open meeting of 2024, approving several significant regulatory measures. These include a proposed rule on incentive-based compensation and a revised proposal on succession planning. Additionally, the board decided to maintain the current interest rate ceiling for federal credit unions at 18 percent.
U.S. issues safety advisory ahead of Bratislava Pride festival
By Globe Banner | Jul 18, 2024
Bratislava is set to host its annual Pride festival, including a march parade and related events, over the weekend from July 19 to July 21.
New program launched for rural land transformation in Côte d'Ivoire
By Globe Banner | Jul 18, 2024
The government of Côte d’Ivoire and the World Bank have officially launched the Rural Land Tenure Management Strengthening Program (PRESFOR) in Guiglo, located in the Cavally region. PRESFOR, implemented by the Rural Land Agency (AFOR), supports the $200 million National Rural Land Registration Program across 16 of the country’s 31 regions, focusing on efficiency, inclusiveness, and social cohesion.
Madagascar begins safeguard probe into certain edible vegetable oils
By Globe Banner | Jul 18, 2024
Madagascar has initiated a safeguard investigation into certain types of edible vegetable oils. The announcement, issued on July 18, 2024, outlines that interested parties must notify the ANMCC, the investigating authority, within 30 days from the investigation's commencement.
Iraq resumes WTO accession talks after sixteen-year hiatus
By Globe Banner | Jul 18, 2024
Mr. Atheer Dawood Salman Al Ghrairi, Iraq's Minister of Trade, led a high-level delegation from Baghdad at the third meeting of the Working Party. Ambassador Saqr Almoqbel of the Kingdom of Saudi Arabia, who chaired the Working Party for the first time since his appointment last year, welcomed Iraq's return to Geneva after many years, highlighting the significance of the formal resumption of Iraq's accession process. “The Minister's presence here, the first since 2008, sends a clear signal that Iraq's accession process is now back on track,” he remarked. The Working Party...
U.S. Embassy outlines requirements for medical-related travel visas
By Globe Banner | Jul 18, 2024
The U.S. Embassy has provided guidance for individuals seeking to travel to the United States for medical purposes.
Federal agencies issue final guidance on reconsiderations of value for real estate valuations
By Globe Banner | Jul 18, 2024
On July 18, 2024, five federal regulatory agencies issued final guidance on reconsiderations of value (ROVs) for residential real estate transactions. The guidance advises financial institutions on policies and procedures to allow consumers to provide information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal.
Moroccan economy shows resilience amid global challenges but faces internal hurdles
By Globe Banner | Jul 18, 2024
RABAT, July 18, 2024 — Despite various obstacles, including a slowdown in the global economy, an inflation shock, and the Al Haouz earthquake, the Moroccan economy has shown resilience and accelerated with real output increasing by 3.4 percent in 2023, according to the World Bank's latest economic monitor for the country.
WTO updates progress on dispute settlement reform efforts
By Globe Banner | Jul 18, 2024
Ambassador Dwarka-Canabady addressed a Heads of Delegation meeting, the third since the formal dispute settlement reform process began earlier this year. "We know what we need to do," she stated. "We know we have to accelerate work. We need to find the best way of doing that to keep the process inclusive."
Uzbekistan empowers villages through community-driven development projects
By Globe Banner | Jul 18, 2024
Nearly half of Uzbekistan’s 37 million population resides in rural areas, where access to clean drinking water, quality healthcare services, and education outcomes are often limited. These disparities particularly affect women and children.
U.S issues caution ahead of Bratislava Pride festival amid security concerns
By Globe Banner | Jul 18, 2024
Bratislava is set to host its annual PRIDE festival, including a march parade and various events from July 19 to 21.
National Geographic Photo Ark exhibition opens at Siam Paragon with focus on conservation
By Globe Banner | Jul 17, 2024
The National Geographic Photo Ark exhibition opened at Siam Paragon in Bangkok on July 17, 2024.
WTO releases documents for China's trade policy review
By Globe Banner | Jul 17, 2024
The following documents are available regarding the Trade Policy Review of China:
Morocco's economy grows despite challenges; private sector faces productivity issues
By Globe Banner | Jul 17, 2024
The Moroccan economy expanded by 3.4% in 2023 despite global economic headwinds, an inflation surge, and the Al-Haouz earthquake. Growth was propelled by a tourism rebound, strong manufacturing exports, and increased private consumption, supported by sound macroeconomic policies. Foreign direct investment (IDA) inflows grew, and the current account deficit shrank to its lowest since 2007. Challenges remain, with per capita consumption just reaching pre-pandemic levels and a new social aid program to assist vulnerable households. Growth is expected to slow to 2.9% in 2024,...