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  • China to have largest share in AIIB, followed by India. SHANGHAI/ BEIJING, June 28- One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank in Beijing. The multilateral institution, seen as a rival to the Western-dominated World Bank...

  • *China to have largest share in AIIB, followed by India. The multilateral institution, seen as a rival to the Western-dominated World Bank and Asian Development Bank, was initially opposed by the United States but has attracted many prominent U.S. allies including Britain, Germany, Australia and South Korea. "It's a huge diplomatic and strategic win for China," said...

  • The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. The National People's Congress Standing Committee, China's top parliament body, had started reviewing the agreement between Brazil, Russia, India, China and South Africa...

  • *Pope voicing concerns from Latin America. The sharp critique of the market-based approach to curbing emissions comes as support for carbon trading is growing, embraced by institutions like the World Bank and United Nations, as well as the heads of many multinational companies and countries like China.. Emissions trading schemes, such as one in place in the...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. The euro extended losses after International Monetary Fund spokesman Gerry Rice said "major differences" remained with Greece over an agreement to save the country from bankruptcy. "Oil continues to slip and slide when it gets bad news out of Greece," said Phil Flynn, analyst at Chicago- based Price Futures...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. The euro extended losses after International Monetary Fund spokesman Gerry Rice said "major differences" remained with Greece over an agreement to save the country from bankruptcy. "Oil continues to slip and slide when it gets bad news out of Greece and moves higher when Greek hopes for a deal to avoid a...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices continued to decline on Thursday due to a stronger dollar and a gloomy economic forecast by the World Bank, while a bullish International Energy Agency report on global demand failed to dispel concerns over a supply glut. In its twice-yearly Global Economic Prospects report, the...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices fell on Thursday due to a stronger dollar and a gloomy economic outlook from the World Bank, while a bullish report about global demand from the International Energy Agency failed to dispel concerns about a supply glut. In its twice-yearly Global Economic Prospects report, the...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. LONDON, June 11- Oil prices steadied on Thursday as a bullish report from the International Energy Agency agency balanced a gloomy outlook from the World Bank, which cut its global economic growth forecast. But the market response was cautious after a downbeat assessment by the World Bank, which predicted...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. SINGAPORE, June 11- Crude oil futures fell on Thursday as the World Bank cut its global economic growth forecast, ending a two-day rally triggered by a sharp U.S. inventory drawdown. In its twice-yearly Global Economic Prospects report, the World Bank predicted the global economy would expand 2.8 percent...

  • Commodities hurting global growth: World Bank Thursday, 11 Jun 2015 | 1:00 AM ET
    Commodities hurting global growth: World Bank

    Franziska Ohnsorge, lead author of global economic prospects at the World Bank, talks about the challenges facing emerging markets.

  • Oil prices fall as World Bank cuts economic growth outlook Wednesday, 10 Jun 2015 | 11:09 PM ET

    *World Bank cuts world growth outlook to 2.8 pct from 3 pct. SINGAPORE, June 11- Crude oil futures fell early on Thursday as the World Bank cut its global economic growth forecast, ending a two-day rally triggered by a sharp U.S. inventory drawdown. In its twice-yearly Global Economic Prospects report, the World Bank predicted the global economy would expand 2.8...

  • SINGAPORE, June 11- U.S. crude futures fell early on Thursday as a cut in the World Bank's global growth outlook pulled them away from one-month highs, ending a two-day rally on a big U.S. stock drawdown. Front month U.S. crude had fallen 33 cents to $61.10 a barrel by 0032 GMT. *The World Bank predicted that India would be the fastest-growing major economy for the first...

  • WASHINGTON, June 10- The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in U.S. interest rates. "We at the World Bank have just switched on the seat belt sign," Basu said in a press conference in Washington. But the World Bank cut its 2015 growth...

  • Unity on climate change at G-7: World Bank Tuesday, 9 Jun 2015 | 5:20 AM ET
    Unity on climate change at G-7: World Bank

    Jim Yong Kim, president of World Bank, tells CNBC about the discussions on global terrorism and climate change held between world leaders at the Group of Seven (G-7) summit.

  • Greek deal must get done soon: World Bank Tuesday, 9 Jun 2015 | 4:20 AM ET
    Greek deal must get done soon: World Bank

    Jim Yong Kim, president of World Bank, says he's watching for "spillover effects" when it comes to Greece and urging those involved to come to an agreement.

  • Ukraine's stability is essential to world: World Bank

    Jim Yong Kim, president of the World Bank, says the institution has supported Ukraine and he's very impressed with the country's leaders.

  • DIARY- Top Economic Events to June 18 Friday, 5 Jun 2015 | 8:01 PM ET

    Bank of France Governor Christian Noyer, European Bank for Reconstruction and Development President Suma Chakrabarti, Bank of Canada Senior Deputy Governor Carolyn Wilkins, Pakistan's former Prime Minister Shaukat Aziz, Italy's former Prime Minister Enrico Letta and World Bank Group Chief Financial Officer Bertrand Badre to attend.

  • World Bank gas flaring initiative misses key players Thursday, 4 Jun 2015 | 2:31 PM ET

    Countries yet to sign a pledge to eliminate routine flaring by 2030 include major flarers the United States, Iran and Nigeria, the bank said, noting that the practice wastes enough energy to supply Africa with electricity and pollutes as much as 77 million cars. "By capturing this gas and converting it into a useful product, such as converting it into power, they...

  • DIARY- Top Economic Events to June 11 Thursday, 28 May 2015 | 8:01 PM ET

    SOFIA- European Central Bank board member Yves Mersch speaks at the Bulgarian Authorities 2015 IMF/World Bank Constituency Meetings- 1100 GMT. BARCELONA, Spain- European Central Bank board member Vitor Constancio speaks at the XXXI Reunion Circulo de Economia- 0730 GMT. HARTFORD, United States- Federal Reserve Bank of Boston President Eric Rosengren speaks...