The World Bank cut its Russia growth forecast on Wednesday, warning of economic stagnation until 2016.» Read More
*Bank of America shares biggest drag on S&P 500. *World Bank cuts global 2014 outlook. NEW YORK, June 11- U.S. stocks dropped on Wednesday, with the Dow and S&P 500 pulling back from recent record highs, following the World Bank's reduction of its global growth forecast.
NEW YORK, June 11- Stocks retreated from recent highs on Wednesday, pressured by a lower World Bank growth forecast and a profit warning from Lufthansa, while crude oil rose on fears of disrupted supply from Iraq.
*Micron, Amazon rise after analysts' comments. *World Bank cuts global 2014 outlook. Investors expressed caution after the surprising primary election defeat of Eric Cantor, the No. 2 Republican in the House of Representatives, by an upstart candidate from the Tea Party movement.
*World Bank cuts global 2014 outlook. In a cautious note, the World Bank late Tuesday cut its global economic growth forecast for 2014 to 2.8 percent from 3.2 percent due to the impact of the Ukraine crisis and a harsh U.S. winter.
*Micron higher in premarket, Credit Suisse ups target. *Sounding a cautious note, the World Bank late Tuesday cut its global economic growth forecast to 2.8 percent from 3.2 percent due to the impact of the Ukraine crisis and a harsh U.S. winter.
Luis Costa, emerging market strategist at Citi, says that growth in the second half of 2014 will come from the developed world rather than from emerging markets.
WASHINGTON, June 10- The World Bank on Tuesday trimmed its global growth forecast, saying a confluence of events, from the Ukraine crisis to unusually cold weather in the United States, dampened economic expansion in the first half of the year.
BEIJING, June 6- China aims to cut the proportion of cash that commercial banks must keep with the People's Bank of China, the country's banking regulator said on Friday, signalling further monetary loosening although the IMF and World Bank say its economy is doing fine.
BEIJING, June 6- China is likely to meet its economic growth target of 7.5 percent this year, the World Bank said on Friday, but must persevere with fiscal and financial sector reforms to deal with the root cause of its debt problems.
Karlis Smits, Senior Economist at the World Bank, says a resilient labor market and improving global economic conditions will support China in achieving its 7.5 percent growth target.
The success of the new Ukraine would constitute an existential threat to Putin's rule in Russia.
Sri Mulyani Indrawati, Managing Director, World Bank, says Thai leaders need to consider the economic consequences caused by the political crisis.
ANTANANARIVO, May 19- The World Bank will give Madagascar $400 million in financial support over three years, after recently restoring ties following a peaceful election, while the European Union said it was resuming full relations with the Indian Ocean island.
May 14- For other related diaries, please. WASHINGTON- World Bank President Jim Yong Kim and former U.S. Secretary of State Hillary Clinton participate in an event for women's empowerment in Washington- 2115 GMT.
CARACAS, May 6- A World Bank panel said on Tuesday it has rejected Venezuela's request to change the arbitrators reviewing a dispute over compensation sought by U.S. oil company ConocoPhillips for 2007 expropriations.
WASHINGTON, April 29- Switzerland and Norway are the world's most expensive economies, followed by Bermuda, Australia and Denmark, according to a new ranking by the World Bank.
Both the World Bank and International Monetary Fund expect slower growth in the region this year than last year in the face of weaker Chinese growth slowing demand for commodities and tighter financial conditions as some central banks wind down stimulus.
WASHINGTON, April 11- The leaders of the International Monetary Fund, World Bank and United Nations on Friday called upon finance ministers to use fiscal policies, such as carbon taxes, to combat climate change. IMF Managing Director Christine Lagarde and World Bank President Jim Yong Kim were joined by U.N.
"We are monitoring the economic situation in Ukraine, mindful of any risk to economic and financial stability, and welcome the IMF's recent engagement with Ukraine as the authorities work to undertake meaningful reforms," the G20 said during the IMF-World Bank spring meetings in Washington.
WASHINGTON, April 11- The International Monetary Fund is able to lend to Ukraine because the country's debt is sustainable, the head of the IMF's European department, Reza Moghadam, said on Friday. "Debt in Ukraine is sustainable," Reza Moghadam said in a news conference during the IMF and World Bank spring 2014 meetings.