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World Bank

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  • WASHINGTON, May 4- The World Bank indirectly invests part of its $18.8 billion staff pension fund in companies in industries such as coal and tobacco, holdings that clash with the development institution's own calls for ethical and low-carbon investing. In an internal post to staff seen by Reuters, the World Bank's treasurer said around 40 percent of the fund's...

  • WASHINGTON, May 4- The World Bank indirectly invests part of its $18.8 billion staff pension fund in companies in industries such as coal and tobacco, holdings that clash with the development institution's own calls for ethical and low-carbon investing. In an internal post to staff seen by Reuters, the World Bank's treasurer said around 40 percent of the fund's...

  • KIEV, April 29- Ukraine's economy could return to growth next year and expand by 2 percent provided the separatist insurgency does not worsen and a banking crisis stabilises, the World Bank said on Wednesday. The World Bank expects Ukraine's economy to shrink 7.5 percent in 2015- in line with central bank forecasts- following a 6.8 percent contraction last year,...

  • World Bank sees Belarus's 2015 GDP falling 3.5 pct Monday, 27 Apr 2015 | 5:39 AM ET

    MINSK, April 27- The World Bank said on Monday it saw Belarus's gross domestic product contracting 3.5 percent this year, sharply revising it down from an earlier forecast of 1.8 percent growth. Next year the contraction will continue, with GDP expected to decline 1 percent, Ruslan Penkevsky, the bank's senior economist for Belarus, said at a press conference.

  • Indonesia calls for new financial global architecture Wednesday, 22 Apr 2015 | 12:01 AM ET

    JAKARTA, April 22- Indonesian President Joko Widodo called on Wednesday for a new global financial order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past. Widodo made no mention of the China-backed Asian Infrastructure Investment Bank that is seen as a threat to the Western-dominated World Bank...

  • DIARY- Emerging Markets Economic Events to May 4 Tuesday, 21 Apr 2015 | 8:02 PM ET

    WASHINGTON- World Bank President Jim Yong Kim speaks at the global philanthropy forum- 1500 GMT. CAIRO- Central Bank of Egypt holds Monetary Policy Committee Meeting- 0100 GMT. BANGKOK- Bank of Thailand holds Monetary Policy Committee meeting.

  • *South Africa faces 6th straight day of power cuts. *S.Africa seeks future World Bank funding for Eskom. JOHANNESBURG, April 17- South Africa appointed veteran public service expert Brian Molefe as acting CEO of its struggling power utility firm Eskom on Friday in an attempt to help keep the lights on in Africa's most advanced economy.

  • WASHINGTON, April 16- The United States and Japan want the World Bank and Asian Development Bank to team up with a new Chinese-led development bank in syndicated loans, as a way of helping the new lender establish strong standards, Japan's finance minister said. Washington and Tokyo are leading members of the World Bank and ADB, respectively, and have been wary of...

  • WASHINGTON, April 16- Japan and the United States agreed that global institutions like the World Bank and the Asian Development Bank may work with the new Beijing- backed development bank by extending coordinated loans, Japanese Finance Minister Taro Aso said. "In our meeting, we agreed on the need for the Asian Infrastructure Investment Bank... to meet high global...

  • DIARY- Top Economic Events to April 29 Thursday, 16 Apr 2015 | 8:01 PM ET

    WASHINGTON- 2015 Spring Meetings of the World Bank Group and the International Monetary Fund. WASHINGTON- Institute for International Finance hosts International Capital Markets and Emerging Markets Roundtable. NEW YORK- Reserve Bank of Australia Governor Glenn Stevens speaks at an American Australian Association luncheon hosted by Goldman Sachs- 1630...

  • LONDON, April 16- Bosses from more than forty global companies called on negotiators to agree a United Nations climate change deal in Paris in December and pledged to make their own emission cuts, they said in an open letter published on Thursday. The letter is designed to put pressure on government officials ahead of a spring meeting of a World Bank group in...

  • Treasury Secretary Jack Lew urged Japan on Thursday to use all policy tools to support its economic recovery, including structural reforms to enhance domestic demand, a U.S. In a statement outlining topics Lew discussed with Japanese Finance Minister Taro Aso on the sidelines of the spring meetings of the IMF and World Bank, the official said Lew also...

  • Fischer was speaking on a panel at the spring meetings of the International Monetary Fund and World Bank.

  • 2 big risks for emerging world: World Bank president Thursday, 16 Apr 2015 | 10:33 AM ET
    Jim Yong Kim, president of World Bank Group.

    Lower commodity prices and an expected interest rate hike in the U.S. present major risks to the developing world, Jim Yong Kim tells CNBC.

  • World Bank: China sticking to reform agenda   Thursday, 16 Apr 2015 | 9:54 AM ET
    World Bank: China sticking to reform agenda

    China is seeing its slowest growth in 6 years. Dr. Jim Yong Kim, World Bank Group President, shares his economic forecast for growth in Asia's economy.

  • World Bank: Low oil hits commodity prices   Thursday, 16 Apr 2015 | 9:52 AM ET
    World Bank: Low oil hits commodity prices

    Dr. Jim Yong Kim, World Bank Group President, discusses the threats to developing markets. He says low oil prices have contributed to lower commodity prices as a whole.

  • Drop in 'unbanked' population most prominent here   Wednesday, 15 Apr 2015 | 6:37 PM ET
    Drop in 'unbanked' population most prominent here

    According to the 2014 Global Findex report, the world's "unbanked" population saw the fastest drop in countries like China and Sub-Saharan Africa, says Leora Klapper, leader, Global Findex Task Team at the World Bank.

  • WASHINGTON, April 15- The United States could work directly with China on projects pushed by a Beijing- led development bank if the new institution embraces standards honed by organizations like the World Bank, a top U.S. official said on Wednesday. Beijing aims to use the AIIB to boost its global clout, and America's warnings have failed to deter European allies...

  • WASHINGTON, April 15- The United States could work directly with China on projects pushed by a Beijing- led development bank if the new institution embraces standards honed by organizations like the World Bank, a top official said on Wednesday. Adopting such standards would make it possible for the Asian Infrastructure Investment Bank to co-finance projects...

  • China says 57 countries to be founding members of AIIB Wednesday, 15 Apr 2015 | 5:35 AM ET

    BEIJING, April 15- A total of 57 countries will be founding members of the new Beijing-backed Asian Infrastructure Investment Bank, China's finance ministry said on Wednesday, throwing together countries as diverse as Iran, Israel, Britain and Laos. Washington had cautioned nations about joining the bank, seen as a rival to the U.S.-dominated World Bank, citing...