Latest News
Private credit market surges: a $2 trillion opportunity in the global Financial landscape
By A. A. Sanchez | Oct 3, 2024
A report released on September 24 by McKinsey & Company highlights the rapid growth of private credit assets, which have reached nearly $2 trillion globally. This expansion underscores significant opportunities for investors as nonbank lending solutions continue to proliferate across international markets.
Preqin announces report on resilience of private equity in India
By R. B. Pepalis | Oct 3, 2024
Preqin has released a report highlighting the increasing significance of private equity in India, a market traditionally dominated by venture capital. Despite challenges posed by global economic conditions and declining investor sentiment, private equity investments have demonstrated resilience.
Binance announces full digital asset license in Kazakhstan
By Globe Banner | Oct 3, 2024
Binance has announced that its Kazakhstan branch has received a full Digital Asset Trading Facility (DATF) license. This approval allows Binance to operate a trading platform, offer broker-dealer services, and provide custody for digital assets.
Regulatory bodies provide guidance for financial institutions post-Hurricane Helene
By Globe Banner | Oct 2, 2024
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators have issued a joint statement acknowledging the significant impact of Hurricane Helene on financial institutions. The agencies are committed to providing regulatory assistance to those affected under their supervision.
Algerian-American Foundation hosts inaugural entrepreneurship workshop
By Globe Banner | Oct 2, 2024
Ambassador Aubin participated in the Algerian-American Foundation for Culture, Education, Science and Technology's first entrepreneurship workshop.
DDG Ellard highlights parliament roles and updates on WTO priorities
By Globe Banner | Oct 2, 2024
DDG Ellard has underscored the significant role of parliaments in bridging international institutions and the public, emphasizing their involvement in World Trade Organization (WTO) matters. She highlighted that parliamentary engagement is crucial for ensuring the effectiveness and relevance of the WTO's work.
World Bank projects Nepal's economic growth despite financial risks
By Globe Banner | Oct 2, 2024
Nepal's economic growth is projected to rise to 5.1 percent in FY25 from 3.9 percent in FY24, as stated in the World Bank’s latest report, "Nepal Development Update: International Migration and Well-being in Nepal." This growth is expected due to increased tourist arrivals, hydropower, and paddy production.
WTO discusses inclusive growth through trade amid global challenges
By Globe Banner | Oct 2, 2024
At the 13th Ministerial Conference held in February 2024, ministers emphasized the significant role of services in the global economy, noting that they contribute to more than two-thirds of global economic output and account for over half of all jobs. The conference highlighted the importance of advancing work on trade in services at the World Trade Organization (WTO). In response, the Council agreed to hold an informal discussion on a WTO-World Bank report titled "Trade in Services for Development." The ministerial mandate concerning this topic is detailed in paragraph 18 of...
Visa requirements detailed by US Embassy in Quito
By Globe Banner | Oct 2, 2024
The United States Embassy in Quito, Ecuador, processes official visas for diplomats and government officials.
World Bank reports Jordan's economic resilience amid regional challenges
By Globe Banner | Oct 2, 2024
Jordan's economy demonstrated resilience in 2023 and early 2024, as highlighted in a World Bank report released today. The report notes that real GDP increased to 2.7 percent in 2023, a modest rise from the previous year. This growth was achieved despite a challenging regional environment and was driven by diverse economic sectors, including manufacturing, agriculture, services, restaurants, and hotels.
US embassy outlines process for diplomatic and official visas
By Globe Banner | Oct 2, 2024
The United States Embassy in Quito, Ecuador, has outlined the process for obtaining diplomatic and official visas.
World Bank supports vulnerable populations in Myanmar through community project
By Globe Banner | Oct 2, 2024
The World Bank has extended direct support to Myanmar's poor and vulnerable population through the Myanmar Community Support Project (MCSP). This initiative, financed by the Myanmar Partnership Multi-Donor Trust Fund with $22.4 million, was operational from January 2023 to September 2024. The project was implemented by two international partners: the International Committee of the Red Cross (ICRC) and the World Food Programme (WFP), aiming to channel resources directly to communities.
Investment framework aims to tackle global malnutrition with evidence-based strategies
By Globe Banner | Oct 2, 2024
The Investment Framework for Nutrition 2024 highlights the ongoing global nutrition challenges, despite progress in reducing child stunting. Currently, 148 million children worldwide are still stunted, and nearly half of the global adult population is either obese or overweight.
World Bank supports Myanmar's vulnerable population through community project
By Globe Banner | Oct 2, 2024
The World Bank has announced its support for Myanmar's poor and vulnerable population through the Myanmar Community Support Project (MCSP). The initiative is backed by financing from the Myanmar Partnership Multi-Donor Trust Fund, amounting to $22.5 million. Implemented between January 2023 and September 2024, the project was executed in collaboration with two international partners: the International Committee of the Red Cross (ICRC) and the World Food Programme (WFP). The project's aim is to provide resources directly to communities, focusing on food security and...
World Bank explores expansion of partnership with Uzbekistan
By Globe Banner | Oct 1, 2024
Antonella Bassani, World Bank Regional Vice President for Europe and Central Asia, recently visited Uzbekistan. Her visit spanned from September 26 to 30, 2024, during which she met with President Shavkat Mirziyoyev and other senior government officials in Tashkent. In Samarkand, she attended the Asian Infrastructure Investment Bank (AIIB) Annual Meetings and engaged in discussions aimed at enhancing cooperation with partner multilateral development banks.
U.S. Embassy announces auction of modular house
By Globe Banner | Oct 1, 2024
The U.S. Embassy is organizing a closed bid auction for a used modular house on Friday, October 18, 2024.
World Bank endorses new strategic partnership for Suriname's development
By Globe Banner | Oct 1, 2024
The World Bank Group's Board of Directors has endorsed a new strategic partnership for Suriname, aimed at supporting the country's long-term development over the next four years. This strategy focuses on fostering economic resilience, promoting inclusive growth, and strengthening institutional governance.
World Bank introduces policy crediting to support global climate goals
By Globe Banner | Oct 1, 2024
The World Bank has developed an Engagement Roadmap for Carbon Markets to support countries in achieving their climate goals. This roadmap includes a new crediting approach called policy crediting, aimed at helping countries meet their Nationally Determined Contributions (NDCs) and align with Article 6 of the Paris Agreement.
WTO's DDG Ellard outlines priorities amid ongoing reforms
By Globe Banner | Oct 1, 2024
DDG Ellard recently discussed the main functions of the World Trade Organization (WTO), including negotiations, trade monitoring, and dispute settlement. She emphasized the importance of technical assistance for developing and least-developed country members. Despite the growth of regional trade agreements, Ellard noted that about 75% of global trade still adheres to WTO rules. The consensus-based decision-making process ensures all members have an equal voice.
GAFSP introduces $75 million fund to boost agricultural investments
By Globe Banner | Oct 1, 2024
The Global Agriculture and Food Security Program (GAFSP) has announced a new $75 million investment window aimed at enhancing food security and agricultural development in low-income countries. The Business Investment Financing Track (BIFT) seeks to support smallholder farmers and micro, small, and medium-sized enterprises (MSMEs) in the agri-food sector.