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Liechtenstein joins International Monetary Fund as its newest member
By Globe Banner | Oct 21, 2024
The Principality of Liechtenstein has officially joined the International Monetary Fund (IMF) as its 191st member. The membership was formalized when Prime Minister Daniel Risch signed the IMF's Articles of Agreement during a ceremony held in Washington, D.C., on October 21, 2024.
IMF reaches staff-level agreement with São Tomé for extended credit facility
By Globe Banner | Oct 21, 2024
The International Monetary Fund (IMF) has reached a staff-level agreement with São Tomé and Príncipe on an Extended Credit Facility (ECF) arrangement. This announcement follows discussions led by Slavi Slavov, the IMF Mission Chief for São Tomé and Príncipe, who visited the country from May 23 to June 5, 2024, and held subsequent virtual meetings.
IMF reaches agreement with Armenia on fourth review under Stand-By Arrangement
By Globe Banner | Oct 21, 2024
An International Monetary Fund (IMF) team, led by Iva Petrova, conducted discussions in Yerevan from September 18 to October 1, 2024, followed by virtual meetings regarding the fourth review under the Stand-By Arrangement (SBA) with Armenia. Ms. Petrova announced that a staff-level agreement has been reached with Armenian authorities on policies for completing this review.
IMF completes first review under extended credit facility for Ethiopia
By Globe Banner | Oct 18, 2024
The International Monetary Fund (IMF) Executive Board has completed the first review of Ethiopia's 48-month Extended Credit Facility (ECF) arrangement. This decision enables an immediate disbursement of approximately US$340.7 million, aiding Ethiopia in meeting its balance of payments needs. With this development, total disbursements under the arrangement have reached about US$1.363 billion.
IMF completes fifth review of Ukraine's extended fund facility
By Globe Banner | Oct 18, 2024
The International Monetary Fund (IMF) Executive Board has completed the fifth review of the Extended Fund Facility (EFF) arrangement for Ukraine, allowing the nation to access US$1.1 billion for budget support. This brings total disbursements under the program to US$8.7 billion. The 48-month EFF arrangement, which was approved on March 31, 2023, provides Ukraine with SDR 11.6 billion, equivalent to US$15.5 billion or about 577 percent of its quota.
IMF reaches staff-level agreement with Honduras after economic policy review
By Globe Banner | Oct 18, 2024
An International Monetary Fund (IMF) team, led by Ricardo Llaudes, visited Tegucigalpa, Honduras, from October 7 to 18, 2024. This visit was part of ongoing discussions that have been both in-person and virtual over recent months. At the conclusion of the visit, Mr. Llaudes issued a statement outlining the outcomes of their discussions.
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.
BusinessEurope discusses challenges facing Europe's SMEs at Berlin roadshow
By Globe Banner | Oct 15, 2024
BusinessEurope held its fourth SME Roadshow event in Berlin, Germany, in collaboration with the Confederation of German Employers’ Associations (BDA) and supported by the Federation of German Industries (BDI). The event featured speeches from Roberta Metsola, European Parliament President, and Michael Kellner, German Parliamentary State Secretary and Commissioner for SMEs.
Managing Partner at Oriza FOFs: 'We believe that China's capital market is returning to the essence of value investment'
By B. B. Urness | Oct 13, 2024
Qing Xu, Managing Partner at Oriza FOFs, said that emerging investment opportunities are present within China's evolving economic landscape. Despite global uncertainties, Xu emphasized the country's resilience and highlighted sectors like AI, healthcare, and sustainable development as key areas for future growth.
U.S trade deficit narrows as exports rise and imports fall
By Globe Banner | Oct 8, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis have reported a decrease in the U.S. goods and services deficit for August 2024. The deficit stood at $70.4 billion, down from $78.9 billion in July.
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 Bureau Economic Analysis reports slight rise personal income outlays August
By Globe Banner | Sep 27, 2024
Personal income in the United States increased by $50.5 billion, or 0.2 percent, in August, according to estimates released by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI), which is personal income less current taxes, rose by $34.2 billion, also a 0.2 percent increase. Personal consumption expenditures (PCE) grew by $47.2 billion, marking another 0.2 percent rise.
BEA reports Q2 economic data showing mixed results across US states
By Globe Banner | Sep 27, 2024
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the second quarter of 2024, with the percent change ranging from 5.9 percent at an annual rate in Idaho to -1.1 percent in Alaska, according to statistics released today by the U.S. Bureau of Economic Analysis.
Starbucks stock downgraded due to uncertainty on operational improvements
By Globe Banner | Sep 26, 2024
Starbucks Corp., a global leader in the coffeehouse industry, has encountered a recent stock downgrade by analysts due to ongoing challenges. Highlighted issues include concerns over operations, organizational culture, and value perception.
BEA reports U.S GDP growth at annual rate of three percent for second quarter
By Globe Banner | Sep 26, 2024
The U.S. Bureau of Economic Analysis (BEA) has released its third estimate for the second quarter of 2024, showing a 3.0 percent annual increase in real gross domestic product (GDP). This follows a revised 1.6 percent increase in the first quarter.
European buyout fundraising on rise after decline in 2023
By Globe Banner | Sep 25, 2024
Buyout fundraising in Europe shows increasing levels after a decline in 2023, with mid-market private equity firm Inflexion hitting its hard cap.
U.S international investment position shows deficit increase in Q2 2024
By Globe Banner | Sep 25, 2024
The U.S. net international investment position, which measures the difference between U.S. residents' foreign financial assets and liabilities, stood at –$22.52 trillion at the end of the second quarter of 2024. This information was released by the U.S. Bureau of Economic Analysis.
Preqin forecasts $29.2tn global alternatives AUM by 2029
By Globe Banner | Sep 19, 2024
Preqin released a report predicting global alternatives Assets Under Management (AUM) could reach $29.22tn by 2029, with the reported level being $16.78tn at the end of 2023.
US current-account deficit grows 10% in Q2 2024
By Globe Banner | Sep 19, 2024
The U.S. Bureau of Economic Analysis has reported a significant increase in the nation's current-account deficit for the second quarter of 2024.
Masimo Corporation faces pivotal moment for shareholders this week
By Globe Banner | Sep 17, 2024
Masimo Corporation, a global leader in non-invasive medical monitoring technology, faces a significant decision on Sep. 19 that could reshape its future. The upcoming annual shareholder meeting on Thursday will address whether to retain long-serving CEO Joe Kiani or bring in Quentin Koffey, a representative of hedge fund Politan Capital Management.