Latest News
Reforms and relief: How Somalia turned a page amid a global debt crisis
By Globe Banner | Apr 24, 2024
On April 24, 2024, it was reported that Somalia has made significant strides in implementing reforms with the backing of the international community. Despite facing obstacles from both domestic and external factors, the country has been able to rebuild its economy and state institutions.One of the key factors in Somalia's progress has been the support it has received from the international community. As stated in a report, "With support from the international community, Somalia has successfully implemented wide-ranging reforms aimed at rebuilding its economy and state...
Viet Nam’s Economy Poised for Gradual Recovery, World Bank Report Finds
By Globe Banner | Apr 23, 2024
Ha Noi, April 23, 2024—Viet Nam's economy is showing signs of recovery, with growth expected to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, as stated in the latest World Bank Taking Stock bi-annual economic update released today.The report highlights that while exports are recovering, consumption and private domestic investment are growing more gradually. Real exports are expected to increase by 3.5% in 2024, reflecting an improvement in global demand. Furthermore, a turnaround in the real estate sector is anticipated, which will boost domestic demand as...
Human Capital Ministerial Conclave Focuses on Digital Technology and AI
By Globe Banner | Apr 23, 2024
At the recent Human Capital Ministerial Conclave, esteemed speakers and ministers gathered to discuss the potential of digital technology and artificial intelligence in shaping the future of human capital development. The event, held during the Spring Meetings, emphasized the role of technology in enhancing how countries build, utilize, and safeguard their human resources.One of the key points raised during the Conclave was the importance of foundational infrastructure and skills in preparing individuals for the opportunities presented by the digital economy. Axel van...
Supporting the People of Afghanistan
By Globe Banner | Apr 23, 2024
Amid ongoing challenges in Afghanistan, the Afghanistan Resilience Trust Fund (ARTF) has been instrumental in providing essential services to the people of Afghanistan. According to the ARTF, projects funded by the organization are delivering crucial support to the Afghan population, including food, livelihoods, health, water, and education services.These projects are being carried out independently of the interim Taliban administration's control, with implementation overseen by United Nations agencies and non-governmental organizations. The coordination of activities...
Assessment of Gender-Specific Challenges to Cross-Border Trade in Jordan
By Globe Banner | Apr 23, 2024
Amidst the global push for increased international trade to alleviate poverty and enhance economic opportunities, a recent study has shed light on the gender-specific challenges faced by women in cross-border trade in Jordan. The research, conducted by the World Bank, aimed to identify barriers encountered by women-led businesses engaging in trade activities in the country.According to the study, men predominantly dominate cross-border trade in merchandise goods in Jordan. Despite this, the primary hurdles faced by women-led businesses were not directly linked to official...
Replicable Mass Transit Systems Reduce Emissions and Connect People to Opportunities in Latin American Cities
By Globe Banner | Apr 23, 2024
Apr 23 2024World Bank projects have resulted in reduced greenhouse gas (GHG) emissions and commuting times, with examples such as the upgrading and greening of Rio de Janeiro's Urban Rail System reducing transport-related GHG emissions by 89 percent compared to the counterfactual. São Paulo's Metro Line 5 is estimated to save 2,960,000 tCO2eq over its economic lifetime. Investments in Bus Rapid Transit (BRT) in Buenos Aires reduced travel times for BRT users by 53 percent between 2016 and 2019.The World Bank's focus on promoting inclusion of the poor is evident in...
Keeping Communities Connected in Small Island Developing States
By Globe Banner | Apr 23, 2024
The World Bank has been actively involved in enhancing connectivity and resilience in Small Island Developing States (SIDS) through various projects and initiatives. As of 2023, 3 million people in 20 SIDS are already benefiting from improved transportation services, with ongoing efforts set to extend these benefits to an additional 5 million individuals in the coming years.In Samoa, for example, the entire population has witnessed enhanced access to transport services thanks to World Bank-supported projects implemented between 2013 and 2022. Similarly, in Haiti,...
Scaling Up Co-Financing for Greater Development Impact
By Globe Banner | Apr 23, 2024
In response to the growing challenges posed by overlapping global crises, a new initiative has been launched to enhance collaboration among development partners and maximize the impact of funding for global development. Akihiko Nishio, World Bank Vice President for Development Finance, emphasized the importance of concerted efforts in addressing these complex issues, stating, "The global financing landscape is becoming more challenging, and it has become clear that tackling the world’s polycrisis requires the concerted effort of the global community."The Global...
IDA—A Crucial Player in the Evolving Global Aid Landscape
By Globe Banner | Apr 23, 2024
Apr 23 2024The International Development Association (IDA) has been highlighted as a crucial player in the evolving global aid landscape. A recently launched report titled "Financing the Future: IDA’s Role in the Evolving Global Aid Architecture" emphasizes the significance of IDA's role in providing support to the 1.3 billion people residing in the world's poorest nations.The report sheds light on the complexities of the relationship between donors and recipient countries in the face of escalating challenges such as climate change, conflict, and pandemics. Despite...
Access to Safe Drinking Water Transforms Lives in Conakry
By Globe Banner | Apr 22, 2024
Residents of Sig Madina in Conakry, Guinea, have seen a significant improvement in their daily lives thanks to access to safe drinking water. Makalé Cissé, a mother of five, used to struggle to meet her family's water needs, often walking long distances to fetch water of questionable quality. Reflecting on the past challenges, Makalé stated, "Not only was it a long way to go, but the quality of the water wasn’t even good enough. My children would often get sick; plus, having to go and fetch water affected my daughter’s performance at school."However, with the...
NCUA Board Approves Advance Notice of Proposed Rulemaking on Records Retention
By Globe Banner | Apr 18, 2024
The National Credit Union Administration Board recently convened for its third open meeting of 2024 and unanimously passed an advance notice of proposed rulemaking focused on enhancing the agency's records preservation program regulations. Chairman Todd M. Harper emphasized the importance of credit unions maintaining robust records preservation programs, stating, "Maintaining vital records is central to a credit union’s ability to properly serve its members and to the NCUA’s ability to fulfill its supervisory, enforcement, and liquidation functions."Part 749 of the NCUA's...
Cato Institute financial expert on Nigeria's detention of Binance employees: 'It’s likely many companies are becoming increasingly hesitant from doing business' in Nigeria
By Globe Banner | Apr 15, 2024
Nicholas Anthony, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, has expressed concern over the Nigerian government's approach towards the cryptocurrency industry. This includes the detention of two Binance employees, which Anthony believes could lead to an increasing hesitance among companies to conduct business in Nigeria. These comments were made in a commentary on the Cato Institute's website on April 11.
Citi announces addition of Fiducian Group to client portfolio
By Globe Banner | Apr 10, 2024
Citi has recently added Fiducian Group to its client portfolio, signifying the integration of a distinguished Australian-owned financial services organization. Fiducian, an Australian-owned specialist in financial services, oversees approximately AUD$13.1 billion in funds across management, administration, and advisory services.
Binance Turkey marketing director: 'We support women in evaluating new opportunities in their journey towards financial freedom'
By Globe Banner | Apr 9, 2024
Harika Eldoğan, the Marketing Director of Binance Turkey, has stated that Binance is working diligently to "expand the crypto ecosystem in Turkey" and bolster women's education and development within the industry. This statement was made public in an April 5 post on Binance's website.
Citi announces social trade loans in Dominican Republic
By Globe Banner | Apr 5, 2024
Citi has disclosed its orchestration of two loans to the Dominican Republic, aimed at bolstering local trade and working capital ventures. These loans are part of Citi's Social Finance initiative and have been extended to Banco Popular Dominicano and Banco Santa Cruz. The transactions mark Citi's inaugural foray into providing Social Trade loans for small and medium enterprises (SMEs) within the region.
Inca Intelligence: 'Binance markets are generally very healthy'
By Globe Banner | Apr 4, 2024
Inca Intelligence, a division of the digital asset intelligence firm Inca Digital, has announced the completion of an investigation into Binance. The study found that the cryptocurrency exchange's markets are "generally very healthy," with its report revealing "minimal signs of anomalous trading activities." The findings were shared in a post on X on March 18.
Nordea schedules first-quarter results release for April 18
By Globe Banner | Apr 4, 2024
Nordea will release its first-quarter results for 2024 on April 18.
NCUA Opening 2024 CDRLF Grant Round May 1
By Globe Banner | Apr 3, 2024
The National Credit Union Administration (NCUA) has announced the opening of the 2024 Community Development Revolving Loan Fund (CDRLF) grant round, with more than $3.4 million available for low-income-designated credit unions. The application period for these grants will run from May 1 to July 1.NCUA Chairman Todd M. Harper emphasized the importance of these grants, stating, "These grants give eligible credit unions the resources needed to support the financial needs of their members and communities. They create new, safe, fair, and affordable financial products and...
Binance announces CEO Richard Teng discussed cyber collaboration with Taiwan's High Prosecutor's Office
By Globe Banner | Mar 28, 2024
Binance, the world's largest cryptocurrency exchange, has revealed that its CEO Richard Teng recently met with Chief Prosecutor Chang, Tou-Hui of Taiwan's High Prosecutor's Office. The meeting aimed to explore potential collaboration in preventing cybercrime.
Nordea updates allocation framework impacting business area results starting 2024
By Globe Banner | Mar 26, 2024
Nordea has announced an update to its internal allocation framework, effective from the beginning of 2024.