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Funding a water-secure future: World Bank's report on global water spending and gaps
By Globe Banner | May 7, 2024
The World Bank's flagship report, "Funding a Water-Secure Future: An Assessment of Public Spending," breaks ground by quantifying, for the first time, government expenditure in the water sector and estimating the financing gaps crucial to meeting global water needs. Highlighting the vital role of water in sustaining life and fostering prosperity, the report is set against the backdrop of rising water insecurity, with billions lacking access to safe water and sanitation, compounded by climate change.
Public asset managers cautious amid inflation and geopolitical uncertainties
By Globe Banner | May 7, 2024
Public Asset Managers remain cautious amid inflation and geopolitical uncertainties: Key Insights from the 20th Annual Executive Forum for Public Asset Managers
World Bank Managing Director Visits Lebanon to Discuss Economic Recovery
By Globe Banner | May 7, 2024
BEIRUT, May 7, 2024 – World Bank Managing Director of Operations Anna Bjerde has arrived on a two-day visit to Lebanon to engage with stakeholders on the latest socio-economic developments in the country and reaffirm the World Bank’s strong support to Lebanon at a time of difficulty. She is accompanied by Ousmane Dione, the new Middle East and North Africa Vice President.During their visit, Bjerde and Dione will meet with Lebanese officials, development partners, and other stakeholder groups. Together with WFP Deputy Executive Director Carl Skau, they will meet with...
World Bank Loan to Namibia Supports Renewable Energy Integration
By Globe Banner | May 6, 2024
Today, May 6, 2024, Namibia celebrates the approval of its first-ever World Bank financed energy project, aimed at enhancing the reliability of the country's transmission network and enabling increased integration of renewable energy into the electricity system.Satu Kahkonen, World Bank Country Director for Namibia, expressed the World Bank's support for Namibia's commitment to renewable energy, stating, “Namibia is a uniquely positioned regional leader in the transition towards a greener and more sustainable future. This project will support NamPower to develop future...
THE 4A'S WELCOMES DENTSU'S ABBEY KLAASSEN AS NEW CHAIR AND FIVE NEW MEMBERS TO ITS BOARD OF DIRECTORS
By Globe Banner | May 6, 2024
The American Association of Advertising Agencies, known as the 4A's, has announced significant leadership changes and new additions to its National Board of Directors. Abbey Klaassen, CEO of Dentsu Creative, U.S., has been appointed as the new Chair of the board. In response to this appointment, Marla Kaplowitz, President, and CEO of the 4A's, expressed her excitement, stating, "As our industry continues to experience dynamic change and opportunities, I am thrilled to welcome Abbey Klaassen to her new role as the 4A's Board of Directors Chair."In addition to Abbey...
Location-based Services Market Expected to Reach $327.6 Billion by 2031
By Globe Banner | May 6, 2024
According to a new market research report by Meticulous Research®, the global location-based services market is projected to reach $327.6 billion by 2031. The report highlights the increasing use of spatial data and analytics across industries, the proliferation of location-based services in the retail sector, and the surging use of location-based services in the agriculture sector. "Mapping, navigation, tracking, proximity marketing, real-time traffic updates, and other commercial applications are key features offered by location-based service providers," the report...
AFRICOM commander visits Benin to bolster security ties
By Globe Banner | May 6, 2024
U.S. Marine Corps General Michael Langley, Commander of U.S. Africa Command, and U.S. Marine Corps Sergeant Major Michael Woods visited Benin from May 1-3, 2024.
Changes in Farm and Food Production Can Cut Greenhouse Emissions by a Third
By Globe Banner | May 6, 2024
WASHINGTON, May 6, 2024 – The global agrifood system has the potential to significantly reduce greenhouse gas emissions by almost a third through accessible and cost-effective measures, all while ensuring food security for a growing population. This revelation comes from a new World Bank report titled "Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System."Axel van Trotsenburg, the World Bank Senior Managing Director, emphasized the impact of food production on climate change, stating, “While the food on your table may taste good, it is also a...
DG Okonjo-Iweala concludes high-level visit to Latin America
By Globe Banner | May 6, 2024
Director-General Okonjo-Iweala recently concluded a high-level visit to three Latin American countries: Chile, Uruguay, and Peru. The week-long tour began in Santiago, Chile, where she attended the CEB's biannual session chaired by UN Secretary-General Antonio Guterres. The event brought together heads of the UN system and associated organizations.
Cambodia Formally Accepts Agreement on Fisheries Subsidies
By Globe Banner | May 6, 2024
Cambodia has formally accepted the Agreement on Fisheries Subsidies, with Deputy Director-General Ellard expressing his warm welcome towards this development. He stated, "I warmly welcome Cambodia's formal acceptance of the Agreement on Fisheries Subsidies. By disciplining subsidies worldwide to harmful fishing, the Agreement will strongly benefit Cambodia, for which fisheries plays an important role in its food security and economic growth. Cambodia's formal acceptance underscores the significance that it, as a least-developed country, attaches to international...
Lithuania plans civil defense drills under "Thunderstorm 2024" exercise
By Globe Banner | May 6, 2024
The Lithuanian government and military have announced civil defense drills as part of the "Thunderstorm 2024" military exercises.
Committee on Market Access Hosts Second Thematic Session on Supply Chain Resilience
By Globe Banner | May 6, 2024
The moderator, Mr Iain Fifer from the UK's Department for Business and Trade, highlighted the challenges facing global supply chains, including those relating to the COVID-19 pandemic, natural disasters, and rapid changes in technology. Emphasizing the importance of collaborative solutions, Mr Fifer stressed the value of sharing diverse technical insights and practical experiences in the Committee.
Grady Hurley Elected President of Maritime Law Association of the United States
By Globe Banner | May 6, 2024
NEW ORLEANS, May 6, 2024 /PRNewswire/ -- Jones Walker LLP announced today that Grady Hurley, a partner and co-leader of the maritime litigation, arbitration, and dispute resolution team, has been elected president of the Maritime Law Association of the United States (MLA) during the organization's general meeting held in New York City on May 3, 2024. Grady is the fourth president elected from New Orleans during the MLA's 125-year history.Grady Hurley expressed his gratitude for the opportunity, stating, "I am privileged to serve as the voice of the MLA and recognize this...
Data Center Market to Reach USD 329.82 Billion by 2027, AI Implementation Key Trend - Technavio Report
By Globe Banner | May 6, 2024
Technavio, a leading global technology research and advisory company, has projected that the global data center market size is poised to grow by USD 329.82 billion from 2023 to 2027. This growth is forecasted to occur at a Compound Annual Growth Rate (CAGR) of 12.73% during the specified period.One of the key trends fueling this growth is the implementation of Artificial Intelligence (AI) in data centers. According to Technavio, AI is enhancing energy efficiency in data centers by optimizing server, power, and cooling systems. The utilization of AI expedites...
Women and Girls in Mozambique to Benefit from New Initiative Combatting Gender-Based Violence
By Globe Banner | May 6, 2024
Women and girls in Mozambique are set to benefit from a new initiative aimed at combating Gender-based Violence (GBV), as approved by the World Bank Board of Directors on April 30. The Capacity Building for Improved Gender-based Violence Response Project is designed to address the critical challenge of GBV in Mozambique by enhancing support services and promoting survivor engagement.Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, emphasized the significance of strengthening support systems for GBV survivors, stating, "Improving access to services...
National Institute for Innovation and Technology™ and Partners Celebrate Youth Apprenticeship Week with Commitment to Expanding Opportunities in Semiconductor and Advanced Manufacturing
By Globe Banner | May 6, 2024
HANOVER, Md., May 6, 2024 /PRNewswire/ -- The National Institute for Innovation and Technology™, along with key partners, is celebrating the inaugural Youth Apprenticeship Week (YAW) with a commitment to expanding opportunities in semiconductor and advanced manufacturing. The week-long event, endorsed by the U.S. Department of Labor, highlights the importance of apprenticeships in building a skilled workforce for the future.Mike Russo, President and CEO of the Institute, emphasized the institute's dedication to bridging the gap between the current workforce and future...
World Bank Approves $80 Million to Strengthen Financial Sector in Nepal
By Globe Banner | May 6, 2024
WASHINGTON, May 6, 2024—The World Bank’s Board of Executive Directors has given the green light to an $80 million development policy credit for Nepal aimed at bolstering the stability of the financial sector, diversifying financial solutions, and enhancing access to financial services.Faris Hadad-Zervos, the World Bank Country Director for Maldives, Nepal, and Sri Lanka, emphasized the significance of the project, stating, “This project supports Nepal’s green, resilient, and inclusive development and will help create an enabling environment for private investment to...
Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System
By Globe Banner | May 6, 2024
May 6, 2024"Agrifood is a bigger contributor to climate change than many think. It generates almost a third of global greenhouse gas emissions, averaging around 16 gigatons annually. This is about one-sixth more than all of the world’s heat and electricity emissions."According to the report titled "Recipe for a Livable Planet," the agrifood system has been identified as a significant source of greenhouse gas emissions, with the potential to make a substantial impact on mitigating climate change. The report highlights the importance of addressing agrifood emissions to...
Incentive-Based Compensation Regulations Proposed by Federal Agencies
By Globe Banner | May 6, 2024
The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA), have adopted a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (section 956). The National Credit Union Administration (NCUA) is expected to take action on the NPR in the near future. The U.S. Securities and Exchange Commission (SEC) has included a rulemaking to implement section 956 on its...
Climate-Smart Road Rehab: A crucial upgrade for São Tomé and Príncipe
By Globe Banner | May 6, 2024
May 6, 2024The recent completion of the rehabilitation and upgrade of the National Road 1 (EN1) in São Tomé and Príncipe has brought significant improvements to the country's infrastructure, mobility, businesses, and residential areas.Helder Paquete, the National Executive Director of STP's National Road Institute (INAE), emphasized the importance of the project, stating, "We expect all future roads to be built to at least this standard, with a focus on climate resilience." The project, financed by the World Bank, sets a new standard for building climate-resilient roads...