The World Bank Supports Russia’s Government Efforts to Improve Financial Literacy, Education, and Consumer Protection of Citizens

The World Bank Board of Executive Directors today approved a US$25 million loan for the Financial Education and Financial Literacy Project for the Russian Federation. This innovative Project will assist the Russian Government in its continued efforts to improve the financial literacy of Russian citizens and their protection as financial consumers.


New Report Sees Cities as Central to Climate Action

A new report from the World Bank released today outlines how residents of cities are responsible for as much as 80% of global greenhouse gas emissions while at the same time facing significant impacts from climate change.  The report, Cities and Climate Change: An Urgent Agenda, says that up to 80 percent of the expected $80 billion to $100 billion per year in climate change adaptation costs will likely be borne by urban areas.  Nevertheless, says the report, climate change offers cities opportunities to alter course, implement smart policies,


International Donors Commit US$31million for River Blindness Efforts

At the 16th meeting of the Joint Action Forum (JAF) in Abuja, Nigeria, international donors committed US$31 million to the African Program for Onchocerciasis Control (APOC) to support efforts to control and eliminate the tropical disease onchocerciasis, commonly called river blindness. Health officials also confirmed that river blindness is moving towards elimination using existing treatment methods developed by APOC and partners.


Index Securities becomes member of NASDAQ Dubai

Broker joins exchange following merger of NASDAQ Dubai’s liquidity pool with DFM’s

The UAE broker Index Securities has become a Member of NASDAQ Dubai, enabling it to trade securities on the region’s international exchange.
Index Securities has joined NASDAQ Dubai to take advantage of the merger of its liquidity pool with Dubai Financial Market’s (DFM’s), which took place in July 2010.
Ayman Jubeh, General Manager of Index Securities, said: “Our individual and institutional clients are now able to trade NASDAQ Dubai securities in exactly the same way that they already trade on DFM, using the same Investor Number”.


Inadequate sanitation costs India the equivalent of 6.4 per cent of GDP

Inadequate sanitation causes India considerable economic losses, equivalent to 6.4 per cent of India’s GDP in 2006 at US$53.8[i] billion (Rs.2.4 trillion), according to The Economic Impacts of Inadequate Sanitation in India, a new report from the Water and Sanitation Program (WSP), a global partnership administered by the World Bank.

The study analyzed the evidence on the adverse economic impacts of inadequate sanitation, which include costs associated with death and disease, accessing and treating water, and losses in education, productivity, time, and tourism. The findings are based on 2006 figures, although a similar magnitude of losses is likely in later years.


First client goes live with direct real-time data reporting service

UBS now directly reporting global real-time terminal inventory
LSEG adopts policy change following successful pilot scheme
Offers greater flexibility for customers

London Stock Exchange Group [or “Group”] today announced that leading international bank UBS AG, has become the first client to begin directly reporting its global real-time terminal inventory to the Group.
Today’s announcement follows LSEG successfully piloting a ‘direct reporting’ initiative with a number of proactive clients, allowing them to report their usage of London Stock Exchange and Borsa Italiana data directly to the Group, in addition to continuing to report through market data vendors.


Despite ongoing weakness, positive signs for business

Despite continued negative spending growth, conditions are looking more positive for Australian businesses, according to the latest Commonwealth Bank Business Sales Indicator (BSI) released today.
The BSI, which tracks the value of credit and debit card transactions processed through Commonwealth Bank point-of-sale terminals, fell for the 12th straight month in November however also revealed that weakness was concentrated in a small number of industry sectors.


Climate-Vulnerable Island States Get Boost For Moving Into Renewable Energy

Some of the smallest and most vulnerable island nations in the world will benefit from a new initiative aimed at increasing these countries’ access to renewable sources of energy.

This follows the signing in Cancun today of a memorandum of understanding between the Alliance of Small Island States (AOSIS), the Government of Denmark, the World Bank, and the United Nations Development Programme (UNDP).


American Express Global Business Travel Announces More Than $2.3 Billion USD in New Client Wins Worldwide Including AXA Canada LTD and The University of Nottingham

Company Also Announces $3.2 Billion USD in Renewed Client Business

Global Business Travel Company President Shares Thoughts on ‘The New Normal’ and the Industry Rebounding
American Express Global Business Travel today announced it has won through November 2010 more than $2.3 billion in new managed travel business(1) with clients spanning from small and mid-sized companies to large market, multinational and global businesses worldwide. Transaction volumes are also on the rise and have seen double-digit growth globally. For client contracts up for re-signing, it was also reported that renewed client business accounted for $3.2 billion year-to-date.