Mohammad Yunus, the founder of Grameen Bank in Bangladesh, transformed the lives of millions of poor women through unsecured micro loans or micro credit to self-help groups. Microcredit evolved into microfinance that also includes savings and basic forms of insurance and transfer mechanisms. Within a few years, microfinance became a global phenomenon. Although microfinance continues to grow, the enthusiasm for it shows signs of waning.
On 1 October 2015, Somalia ratified the UN Convention on the Rights of the Child (CRC), leaving the United States of America as the only remaining member state of the UN not to embrace this most universally accepted human rights treaty. UN Secretary-General Ban Ki-moon reflects the sentiments of all the world’s human rights activists in encouraging the US to join the global community by ratifying this noble treaty.
The emergence of fracking has modified the global market for fossil fuels. But the plunge in oil prices has diluted the effect, in a struggle that experts in the United States believe conventional producers could win in the next decade.