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  • PARIS/ BEIJING, March 17- Germany, France and Italy said on Tuesday they had agreed to join a new China- led Asian investment bank after close ally Britain defied U.S. pressure to become a founder member of a venture seen in Washington as a rival to the World Bank. It comes amid prickly trade negotiations between Brussels and Washington, and at a time when EU and Asian...

  • TOKYO, March 13- The president of the World Bank said on Friday he welcomed the setting up of the China-backed Asian Infrastructure Investment Bank, a day after Britain became the first Western nation to embrace the institution. The AIIB was launched in Beijing last year and was seen as a rival to the Western-dominated World and Asian Development Bank.

  • TOKYO, March 13- The president of the World Bank said on Friday he welcomed the setting up of the China-backed Asian Infrastructure Investment Bank, a day after Britain became the first Western nation to embrace the institution. The AIIB was launched in Beijing last year and was seen as a rival to the Western-dominated World and Asian Development Bank.

  • LONDON, March 13- Britain said it has sought to become a founding member of the Asian Infrastructure Investment Bank, making it the first Western nation to embrace the China- backed institution, but the United States reacted frostily to the development. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank.

  • UPDATE 1-UK to join China-backed Asian development bank Thursday, 12 Mar 2015 | 10:30 PM ET

    LONDON, March 12- Britain said it will seek to become a founding member of the Asian Infrastructure Investment Bank, a new regional body backed by China that has raised concerns in the United States about governance standards. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank in the region.

  • UK to join China-backed Asian development bank Thursday, 12 Mar 2015 | 6:27 PM ET

    LONDON, March 12- Britain said it will seek to become a founding member of the Asian Infrastructure Investment Bank, a new regional body backed by China that has raised concerns in the United States about governance standards. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank in the region.

  • World Bank admits botched resettlement policy Wednesday, 4 Mar 2015 | 12:24 PM ET

    World Bank President Jim Yong Kim pledged that "we must and will do better," on a call with reporters, and launched an action plan to address shortcomings. In a recent case, indigenous Anuak people in Ethiopia's Gambella region said the World Bank contributed to the Ethiopian government's "villagization" program that forced about 70,000 people off their land.

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. The move contrasts with October, when Venezuela deemed the award a victory for its sovereignty and oil workers were shown on TV celebrating.

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. "Venezuela has filed an application for annulment," the country's lawyer George Kahale told Reuters in an email, adding he didn't know yet when the tribunal was...

  • China's lending push bypasses cash-starved farm sector Thursday, 12 Feb 2015 | 4:00 PM ET

    *China's agriculture short on credit, productivity falling. World Bank data showed the value added per farm worker in China was $750 in 2012, compared with around $63,000 in the United States. Jin Yong, a lifelong farmer in Anhui, one of China's poorest provinces, formed a corporate entity with other individual investors in an effort to improve his access to...

  • Greeks soften tone as Germans stand firm Tuesday, 10 Feb 2015 | 11:37 AM ET
    Pharmacist George Bacacos, right, behind the counter at his drugstore.

    Recommendations from the OECD may form the basis of a deal sought by Greece with euro zone finance ministers.

  • Mega-funds start to beat retreat from emerging markets Monday, 26 Jan 2015 | 12:38 PM ET

    LONDON, Jan 26- Big pension, insurance and sovereign funds that kept faith with emerging markets during the massive selloffs of 2013 and 2014 may be starting to waver, potentially depriving the sector of a key source of support. But years of weak returns and cloudy growth prospects are now souring the mood, with the World Bank this month again cutting its growth...

  • ANTANANARIVO, Jan 25- Madagascar's president announced the replacement of eight ministers late on Sunday, including a new finance minister, after the government was dissolved earlier this month amid mounting public frustration over power cuts and other issues. Maurice Gervais Rakotoarimanana, an accountant who has worked with the World Bank, will be the...

  • Oil price may boost growth by 15-20%: World Bank Thursday, 22 Jan 2015 | 6:39 AM ET

    Low oil prices may increase economic growth by 15-20 percent this year, but some countries will still lose out, said the head of the World Bank.

  • World Bank on 'snuffing out' epidemics   Thursday, 22 Jan 2015 | 5:25 AM ET
    World Bank: 'Snuffing out' epidemics

    Jim Yong Kim, World Bank president and 2015 WEF co-chair, talks about epidemics like Ebola and says that people need to be careful not to lose focus after it has peaked.

  • World Bank President welcomes ECB QE   Thursday, 22 Jan 2015 | 5:10 AM ET
    World Bank President welcomes ECB QE

    Jim Yong Kim, World Bank president and 2015 WEF co-chair, says he welcomes the prospect of quantitative easing in Europe, but adds that it should not encourage countries to slow down structural and economic reforms.

  • SINGAPORE, Jan 15- Gold was steady on Thursday as Asian stocks recovered from earlier losses, but the metal stayed below a 12- week high as a recent sell-off in commodities took its toll. Gold was sold off along with copper, which slid to a 5-1/ 2 year low on Wednesday after the World Bank cut its global growth forecast, and oil, which rebounded late in the session.

  • SINGAPORE, Jan 15- Gold ticked up on Thursday after Asian equities mostly extended falls on global growth concerns, but the metal stayed below a 12- week high as a sell-off in commodities took a toll. *Gold was sold off along with copper, which slid to a 5-1/ 2- year low on Wednesday after the World Bank cut its global growth forecast. *Gold is facing a test of strength...

  • *World Bank lowers global growth forecasts for 2015, 2016. "velocity of the downward trend that we've been in, you can expect to see violent snapbacks," said Tariq Zahir of Tyche Capital. Even so, there were growing signs that low prices were finally beginning to slow the unrelenting growth in U.S. oil production, a key factor for markets as OPEC powerhouse Saudi...

  • *World Bank cuts global growth forecasts. NEW YORK, Jan 14- U.S. stocks fell for a fourth day on Wednesday as a World Bank forecast fueled concerns about global economic weakness and copper prices sank, although a late-day rebound in energy shares left the market well off its lows after a volatile session. The price of copper, a key industrial metal, touched its lowest...