Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

The New Development Bank Approved Admission of New Member Countries

Published

on

 

The New Development Bank (NDB), established by BRICS (Brazil, Russia, India, China, and South Africa) in 2015, welcomes the admission of the United Arab Emirates (UAE), Uruguay, and Bangladesh.

Formal negotiations with prospective members started in late 2020 when the Board of Governors gave the authorization. Successful negotiations resulted in the first new member countries being approved by NDB.

“We are delighted to welcome the UAE, Uruguay, and Bangladesh to the NDB family. New members will have in NDB a platform to foster their cooperation in infrastructure and sustainable development”, said Mr. Marcos Troyjo, President of NDB. “We will continue to expand the Bank’s membership in a gradual and balanced manner”.

“The United Arab Emirates’ membership in the New Development Bank represents a new step to enhance the role of the UAE economy on the global stage, especially in light of the great capabilities and expertise that the country possesses in supporting infrastructure projects and sustainable development. This monumental step would not have been achieved without the vision and directions of the UAE leadership who believe in the importance of supporting development projects around the world especially in the emerging economies”, said H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs of the UAE.

“Uruguay sees in the NDB a great opportunity to harness cooperation with its member countries, aiming to achieve stronger international integration in trade and cross-border investment flows”, said H.E. Azucena Arbeleche, Minister of Economy and Finance of Uruguay.

“Membership of Bangladesh to NDB has paved way for a new partnership at a momentous time of 50th anniversary of our independence. Membership in the NDB is an important step forward in meeting the development vision of our Hon’ble Prime Minister, Sheikh Hasina. We look forward to working closely with NDB to build together a prosperous and equitable world for our next generation as dreamt by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman”, said Hon. A H. M. Mustafa Kamal, Minister of Finance of Bangladesh.

After successful admission, memberships to NDB become effective when it completes its domestic processes and deposits the instrument of accession.

The membership expansion furthers the Bank’s strategy to be positioned as the premier development institution for emerging economies. Funding projects in member countries in areas such as transport, water and sanitation, clean energy, digital infrastructure, social infrastructure, and urban development, NDB has a portfolio of projects totaling US$ 30 billion.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

CRITICAL IOT CONNECTIVITY EXPERTS, CSL, ARE DELIGHTED TO ANNOUNCE THE APPOINTMENT OF GREVILLE COE AS CHIEF COMMERCIAL OFFICER

Published

on

LONDON, May 2, 2024 /PRNewswire/ — Greville will be responsible for driving CSL’s future growth strategy around new markets and geographical expansion. Greville brings a wealth of commercial and sales expertise to CSL, having previously served as the Managing Director of the telematics division at Radius for seven years.

 

 

He was instrumental in propelling the business through strategic acquisitions and organic growth initiatives, expanding the company’s footprint globally. Greville commented: “CSL is a fast-growing business with a dynamic leadership team and thriving culture. I’m excited to leverage my experience here, helping to realise CSL’s growth ambitions.”

Ed Heale, CSL’s CEO, commented: “Greville has a proven track record of scaling businesses and driving significant growth. He will be instrumental in building out and strengthening our commercial function to ensure we continue to provide our customers with the services and support they need.”

For 30 years, CSL has been the leading European provider of Critical Connectivity. Today, they have over 2.5 million connections and provide fully managed single or multi-path solutions to connect any life, mission or business-critical IoT application. These range from applications that save lives or support crucial operational processes. Having pioneered the transition from wired to wireless connectivity in the Security and Health sectors, they now play a crucial role in the Critical National Infrastructure Ecosystem with solutions deployed at scale in every sector.

Discover more about our IoT solutions.

Photo – https://mma.prnewswire.com/media/2403530/CSL_Group.jpg
Logo –  https://mma.prnewswire.com/media/2403578/CSL_Group_Logo.jpg

 

CSL Group Logo

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/critical-iot-connectivity-experts-csl-are-delighted-to-announce-the-appointment-of-greville-coe-as-chief-commercial-officer-302134482.html

Continue Reading

Latest News

International Islamic Trade Finance Corporation (ITFC) launches landmark Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum

Published

on

TCCA+ is a pioneering regional economic cooperation initiative spanning Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan

The Program aims to contribute, through trade and investment development, to the achievement of inclusive economic growth, regional economic cooperation and promote trade, among the OIC member countries in the Central Asia OIC member countries and Azerbaijan, and with the rest of the world

TASHKENT, Uzbekistan, May 2, 2024 /PRNewswire/ — The International Islamic Trade Finance Corporation (ITFC), member of Islamic Development Bank Group, is delighted to announce the launch of its newest flagship Trade Connect Central Asia+ (TCCA+) Program at the 3rd Tashkent International Investment Forum.

The aim of the Program is to facilitate economic growth and regional economic integration amongst the six Organisation of Islamic Cooperation (OIC) member countries in the Central Asia region, namely Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan plus Azerbaijan.

The region boasts one of the world’s largest energy resources and significant production capacities in energy and agriculture. However, current regional trade among these markets has not yet reached its full potential. With a focus on increasing regional trade and diversifying the export base towards higher value-added products, the TCCA+ Program is expected to contribute to inclusive and sustainable economic growth, as well as regional economic integration among the six targeted countries. This will be achieved by boosting export and investment capacities, enhancing competitiveness, and promoting trade initiatives and regional value chains, thus unlocking intra-regional trade and investment potential. Additionally, the Program seeks to promote increased trade among the OIC member countries in the region and with the rest of the world.

The TCCA+ Program was unveiled during a prestigious roundtable event, in the presence of esteemed ministerial representatives from beneficiary countries. Eng, Hani Salem Sonbol, CEO ITFC and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD) was joined by esteemed dignitaries including H.E. Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan; H.E. Serik Zhumangarin, Deputy Prime Minister of Kazakhstan; Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan; Serdar Jorayev, Minister of Finance and Economy of Turkmenistan; Solehzoda Ashurboy, First Deputy Minister, Ministry of Economic Development and Trade of the Republic of Tajikistan; Dr. Rupa Chanda, Director of the Trade, Investment and Innovation Division of ESCAP; Ibrahim Shoukry, Head of IsDB Regional Hub Almaty, Kazakhstan; and Sanzharbek Bolotov, Deputy Minister, Ministry of Economy and Commerce of the Kyrgyz Republic. Simon Quijano-Evans, Chief Economist at Gencorp Capital, moderated the event, attended by multilateral financial institutions, international development agencies, international and regional organisations and agencies active in the region, and senior representatives from key public and private institutions in OIC member countries.

The TCCA+ Program was explicitly designed for the region and tailored to the specific needs of the six targeted countries. Prior to the launching, a focal points meeting and program validation workshops were held in Istanbul, Türkiye, and Baku, Azerbaijan, in October and December 2022, respectively, to align with and validate the objectives of the Program with the needs of the 6 targeted countries. At last year’s Tashkent International Investment Forum, ITFC also organised the TCCA+ Program Development Partners Roundtable to ensure the active involvement, engagement and collaboration of all development partners and relevant stakeholders.

As a key partner and sponsor of the Tashkent International Investment Forum 2024, ITFC has further demonstrated its commitment to supporting economic growth and fostering regional cooperation.

In his statement at the launching, Eng, Hani Salem Sonbol, CEO of ITFC and Acting CEO of ICD, said:

“We are immensely proud to launch the TCCA+ Program, which represents a significant step forward in enhancing economic cooperation and boosting trade across the Central Asia region and beyond. This initiative is designed to unlock the vast economic potential of the region by facilitating increased regional trade and investment. With a focus on the energy and agriculture sectors, we are committed to fostering sustainable economic growth and regional integration that benefits all member countries involved.”

The Minister of Investments, Industry and Trade of the Republic of Uzbekistan, Laziz Kudratov, was quoted saying:

“We are honoured to host the launch of this transformative economic initiative, following the development and progress made at last year’s Forum. We are united with ITFC in our shared goal to unlock the immense investment potential in Uzbekistan, and strongly support their efforts to drive economic prosperity across the wider region.”

About the International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$75 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

Logo: https://mma.prnewswire.com/media/2403550/ITFC_Logo.jpg

 

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/international-islamic-trade-finance-corporation-itfc-launches-landmark-trade-connect-central-asia-tcca-program-at-the-3rd-tashkent-international-investment-forum-302134356.html

Continue Reading

Latest News

Everest Trust Scales New Heights With Premium Accounts For Ambitious Traders

Published

on

LANCY, Switzerland, May 2, 2024 /PRNewswire/ — Everest Trust, a leading online brokerage firm, has recently announced the launch of its premium account offerings. These exciting new accounts offer experienced and high-volume traders unparalleled control and enhanced features to reach their financial summits.

“We understand that successful traders have specific requirements,” says Emily-Rose Hawthorn, a spokesperson for Everest Trust. “The premium accounts are crafted to cater to those who seek more from our trading platform. We’ve empowered these individuals with the necessary tools, resources, and support to navigate the ever-evolving financial landscape and make informed decisions.”

Premium features for peak performance

Everest Trust’s premium accounts exceed the standard conditions offered in their primary accounts. Premium account holders will enjoy a multitude of benefits aimed at elevating their trading journey. Here’s a glimpse of what traders can expect.

The broker provides customized spreads, swap rates, and custom leverage options, allowing users to optimize their strategies and potentially retain a more significant share of their profits. Members also benefit from personalized guidance and support with two dedicated, 30-minute weekly consultations with an account manager with extensive market expertise. This ensures traders always have a trusted advisor by their side to remain informed and equipped to make sound decisions.

Everest Trust elevates the trading experience further with exclusive features like weekly trading signals, access to trade-exclusive events and limited credit allocation for qualified clients. The importance of risk management is addressed, with risk management tools and strategies provided by them to minimize the impact of market volatility. Additionally, select members enjoy the peace of mind that comes with limited insured positions, offering a safety net for their investments.

“We are confident that the premium accounts will be instrumental in propelling our customers towards success,” emphasizes Hawthorn. “By bringing a customized and results-oriented workplace, Everest Trust is committed to unlocking new avenues for growth for traders.”

About Everest Trust

Everest Trust is an online investment platform that allows individuals of all backgrounds to participate in the financial markets. The brand delivers a secure and reliable solution for investors to grow their wealth with a user-friendly platform, a comprehensive suite of trading tools, and a wide variety of financial markets available to trade. The introduction of premium accounts underscores its dedication to catering to the evolving needs of all clients, from novice to pro.

Website: https://www.everestrust.com/

 

View original content:https://www.prnewswire.co.uk/news-releases/everest-trust-scales-new-heights-with-premium-accounts-for-ambitious-traders-302134359.html

Continue Reading

Trending