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NCUA prohibits two individuals from participating in federally insured depository institutions
By Globe Banner | Sep 30, 2024
The National Credit Union Administration (NCUA) has issued one consent and one prohibition notice in September 2024. The individuals named are permanently prohibited from participating in the affairs of any federally insured depository institution.
World Bank official visits Haiti highlights ongoing support amid crises
By Globe Banner | Sep 30, 2024
On his first visit to Haiti at the end of August 2024, Dirk Reinermann, Director for Resource Mobilization with the World Bank’s International Development Association (IDA), toured the new location of the National Emergency Operations Center of the Direction Générale de la Protection Civile. The recently inaugurated 480 square-meter facility, partly financed by the International Development Association, will facilitate better coordination among populations at-risk before, during or after climatic, geological, or other events.
Niger's economic resilience amid crises highlights urgent need for investment in education
By Globe Banner | Sep 30, 2024
In Niger, 2023 was marked by a severe political crisis that triggered regional commercial and financial sanctions and disrupted external financing. The sanctions lasted seven months, and an estimated 7.5% of GDP in external financing was not disbursed in 2023 due to disruptions in international development assistance. The report estimates that the crisis significantly reduced GDP growth to 2.0% in 2023 (-1.7% per capita), compared to 6.9% prior to the crisis.
Dentsu CEO: We're no longer only an advertising company
By Globe Banner News Service | Sep 28, 2024
The leader of Japan's largest marketing agency says the company will grow by consulting clients on business transformation and technology, not just traditional advertisting and public relations.
WTO conference highlights need for resilient global trade
By Globe Banner | Sep 28, 2024
The WTO Chairs Conference in India recently focused on the need for resilient and inclusive trade. The event opened with remarks from WTO Deputy Director-General Xiangchen Zhang, who emphasized the significance of the WTO Chairs Programme (WCP) network in strengthening the multilateral trading system. He stated, “Trade negotiations cannot succeed if only a few voices are heard,” highlighting the importance of participation from all countries.
Preqin announces report on India's growing role in global venture capital
By Globe Banner | Sep 28, 2024
Preqin has released a report highlighting India's increasing role in global venture capital, noting a significant rise in assets under management for India-focused VC funds. Despite recent declines, the long-term outlook for venture capital in India remains positive.
Binance announces cooperation with India ED in Fiewin app scam investigation
By Globe Banner | Sep 28, 2024
Binance announced that India's Enforcement Directorate (ED) has arrested four individuals connected to the Fiewin gaming app scam. The investigation revealed links to digital wallets, with Binance's Financial Intelligence Unit (FIU) providing significant assistance.
Romania publishes roadmap for developing offshore wind industry
By Globe Banner | Sep 27, 2024
The European Commission and the World Bank Group have collaborated with the Government of Romania to publish a new roadmap aimed at developing offshore wind energy in the Black Sea. The document, part of the project 'Internal energy market and energy transition in Romania,' received technical support from the European Commission’s Directorate General for Structural Reform Support (DG REFORM). The initiative was funded by the European Union through the Technical Support Instrument and implemented by the World Bank and International Finance Corporation (IFC), alongside DG...
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.
World Bank grants $30 million to support Zambian refugee policy
By Globe Banner | Sep 27, 2024
The World Bank has approved a new grant to help Zambia improve socio-economic opportunities for refugees and their host communities. The $30 million Zambia Refugee and Host Communities Project will focus on legislative reforms supporting the Government of Zambia’s 2023 Refugee Policy and invest in social and economic activities within the Meheba refugee settlement.
WTO holds workshop to improve compliance with import licensing
By Globe Banner | Sep 27, 2024
The World Trade Organization (WTO) recently held a workshop aimed at enhancing capacity on import licensing and notifications. In her opening remarks, Ms. Tyesha Turner, Chairperson of the Committee on Import Licensing, emphasized the importance of transparency within the multilateral trading system. She noted that import licensing has been on the global trade agenda since the 1970s and became part of the WTO's multilateral agreements after the Uruguay Round.
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.
Patton: 'Hate thrives in environments where communities are divided'
By Globe Banner Reports | Sep 26, 2024
Damien Patton, founder and former CEO of Banjo, said the key to combatting the rise in extremism and hate groups is to offer forgiveness to those who people who associated with such groups in the past.
Uruguay's Ceibal initiative highlights benefits of tech in education
By Globe Banner | Sep 26, 2024
Ceibal, Uruguay’s digital education initiative, offers valuable lessons for countries seeking to leverage technology for improved learning outcomes and educational equity. This brief explores Ceibal's journey from its initial goal of providing laptops to every student and teacher to its evolution into a comprehensive platform for educational innovation.
World Bank Group expands partnership with IFRS Foundation on sustainability standards
By Globe Banner | Sep 26, 2024
The World Bank Group and the IFRS Foundation have announced their commitment to expand their partnership towards adopting sustainability standards in emerging markets and developing economies (EMDEs). This announcement was made during New York Climate Week.
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.
World Bank supports Serbia with EUR 25 million for innovation growth
By Globe Banner | Sep 26, 2024
Serbia is set to enhance its international competitiveness and accelerate economic growth by strengthening the links between scientists and innovators, supporting artificial intelligence (AI) solutions and biotechnology, and mobilizing private capital. The World Bank has approved EUR 25 million in additional financing through the Serbia Accelerating Innovation and Growth Entrepreneurship (SAIGE) Project to support these efforts.
World Bank continues extensive support efforts for Afghan people
By Globe Banner | Sep 26, 2024
The World Bank Group has provided over $1.7 billion in support to the Afghan people since August 2021, focusing on service delivery for women and girls. The funds are managed outside the control of the Interim Taliban Administration (ITA).
Azerbaijan progresses towards WTO membership
By Globe Banner | Sep 26, 2024
Samad Bashirli, Deputy Minister of Economy and newly appointed WTO Chief Negotiator, led Azerbaijan's high-level delegation to Geneva for the Working Party meeting. This meeting occurred 14 months after the previous one in July 2023, which marked the resumption of accession negotiations following a six-year gap. The delegation included Azerbaijan's Ambassador to the WTO, Galib Israfilov, senior government officials, and experts from various ministries and agencies.