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  • Some climate change impacts unavoidable - World Bank Sunday, 23 Nov 2014 | 4:00 PM ET

    OSLO, Nov 23- Some future impacts of climate change, such as more extremes of heat and sea level rise, are unavoidable even if governments act fast to cut greenhouse gas emissions, the World Bank said on Sunday. "This means that climate change impacts such as extreme heat events may now be simply unavoidable," World Bank President Jim Yong Kim told a telephone news...

  • The campaign- backed by money transfer company, Transfer Wise- is the latest push for more transparency by companies in London which are trying to eat into margins on transactions the World Bank says average as much as nine percent. Transfer Wise laid out research from the World Bank and the Charterhouse agency which showed that banks and other traditional...

  • G-20 leaders told they will be judged on fairness Saturday, 15 Nov 2014 | 10:07 PM ET

    The Civil Society 20 group, or C-20, says the G-20 summit this weekend in Brisbane, Australia will be judged on fairness. The World Bank and International Monetary Fund both say living standards suffer when a minority is capturing an increasing share of wealth. Costello says that reducing inequality in Australia conflicts with Prime Minister Tony Abbott's...

  • World Bank: Ebola fund would create incentives Friday, 14 Nov 2014 | 5:12 AM ET

    BRISBANE, Australia— A proposed global emergency fund to contain the next Ebola outbreak would also provide an incentive for drug companies to develop vaccines to fight other future pandemics, World Bank President Jim Yong Kim said Friday. The Ebola outbreak is the worst ever and has infected some 9,900 people and killed more than 4,800 in the hardest hit...

  • NEW DELHI/ SEOUL, Nov 6- India is hoping a new China- backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending. A senior Indian official told Reuters the Asian Infrastructure Investment Bank, sponsored by...

  • *China can lower 2015 economic growth target to 7 pct- World Bank. BEIJING, Oct 29- China can cut its economic growth target to 7 percent next year without hurting its labour market, the World Bank said on Wednesday even as it urged Beijing to get rid of rigid growth objectives. At its thrice-yearly review of the Chinese economy, the World Bank warned China against...

  • BEIJING, Oct 29- China can afford to cut its 2015 economic growth target to 7 percent and still keep its labour market healthy, the World Bank said on Wednesday, even as it urged Beijing to stop setting rigid growth objectives. "Our policy message is the focus should be on reforms rather than meeting specific growth targets," Karlis Smits, a senior economist at the...

  • Tajikistan most improved in World Bank business ranks Tuesday, 28 Oct 2014 | 8:01 PM ET

    WASHINGTON, Oct 28- Tajikistan made the greatest strides in business-friendly reforms in the past year, part of an overall trend of improving business regulations across Eastern Europe and Central Asia, the World Bank said in a report released on Tuesday. In general, 85 percent of countries in Eastern Europe and Central Asia have made it easier to do business in...

  • Development lenders pledge $8 bln to Horn of Africa Monday, 27 Oct 2014 | 12:00 AM ET

    ADDIS ABABA, Oct 27- Global development lenders, including the World Bank, African Development Bank and European Union, pledged more than $8 billion on Monday to boost economic growth and reduce poverty in eight countries in the Horn of Africa. The region, which includes Kenya, Somalia, Ethiopia, Eritrea, Djibouti, Uganda, Sudan and South Sudan, includes some of the...

  • SHANGHAI, Oct 24- Australia, Indonesia and South Korea skipped the launch of a China- backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China's $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian Development Bank,...

  • SHANGHAI, Oct 24- Australia, Indonesia and South Korea skipped the launch of a China- backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China's proposed $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian...

  • ANALYSIS-Africa set to switch on gas-to-power potential Thursday, 16 Oct 2014 | 6:05 AM ET

    *World Bank, Barack Obama behind "Power Africa" legacy. JOHANNESBURG, Oct 16- Africa's under used gas reserves, either exported or burnt away into the sky, are set to play a big role in stemming the continent's crippling electricity void, a shift that should boost economies and small-cap energy firms. Driven by huge recent finds in East Africa, sub-Saharan gas...

  • WASHINGTON, Oct 13- Russia's VTB Bank will slightly reduce its presence in London and the rest of Western Europe but keep its core operations there, the bank's chief executive said. "We will of course shrink our structure in London and Western Europe, but it will only be slightly," VTB CEO Andrei Kostin told reporters on the sidelines of the IMF and World Bank meetings...

  • *Japan shut for holiday, China trade data in focus. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, extending last week's 1.1 percent drop. At an International Monetary Fund and World Bank meeting in Washington on Saturday, IMF member countries called for bold action to bolster the global economic recovery and flagged Europe as a...

  • WASHINGTON, Oct 11- Reserve Bank of India Governor Raghuram Rajan said on Saturday there would be some volatility in emerging markets once the U.S. The rest of the world will benefit from U.S. growth, "Rajan said at an event on the sidelines of the International Monetary Fund and World Bank fall meetings. "It could create some volatility for the emerging markets... my...

  • Brazil has been preparing for the hikes by amassing currency reserves and maintaining a floating currency, Tombini said on the sidelines of the International Monetary Fund and World Bank fall meetings in Washington.

  • China's central bank sees 'very low' risk of hard landing Saturday, 11 Oct 2014 | 11:47 AM ET

    WASHINGTON, Oct 11- The chance of a hard landing for China's economy is very small in spite of worries about the country's real-estate sector, the chief economist of the People's Bank of China said on Saturday. Ma Jun told a panel on the sidelines of the IMF and World Bank fall meetings in Washington that the property sector, which accounts for 20 percent of total...

  • WASHINGTON, Oct 10- Bank of Israel Governor Karnit Flug voiced openness on Friday to reducing interest rates further or using other unconventional policy tools to boost inflation back to the target range. She was speaking during the annual meetings of the International Monetary Fund and World Bank. Countries like Switzerland and the Czech Republic which...

  • WASHINGTON, Oct 9- The mix of low interest rates, high liquidity and low volatility in the global economy is "not without danger," European Central Bank Governing Council member Jens Weidmann said on Thursday. Speaking on the sidelines of World Bank and International Monetary Fund meetings, Weidmann said he expected discussion on Friday, when Group of 20...

  • *Venezuela may seek to annul World Bank tribunal's award. CARACAS, Oct 9- A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country. "The Tribunal has found that the expropriation was conducted in accordance with due process, that it was...