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  • CHISINAU, Moldova— The main party in Moldova's pro-European ruling coalition has named an ex- World Bank economist as the candidate for prime minister. Maia Sandu worked for the World Bank in Chisinau and then Washington before becoming education minister in 2012. She has been praised for reforming the education system by reducing the number of schools,...

  • *NDB to help emerging economies develop faster- China finmin. SHANGHAI, July 21- Officials from the world's largest emerging nations launched the New Development Bank on Tuesday, the second of two new policy banks heavily backed by Beijing that are being pitched as alternatives to existing institutions such as the World Bank. The new bank will fund...

  • KIEV, July 16- Ukraine's parliament has passed all the laws needed to receive a second tranche of financial aid from the International Monetary Fun worth $1.7 billion, a deputy Finance Minister, Artem Shevalev, said on Thursday. "Thanks to the MPs for being responsible- all currently outstanding IMF and World Bank laws approved," he said in a Facebook post.

  • How China might have given itself a black eye Friday, 10 Jul 2015 | 3:55 PM ET
    An investor watches an electronic board showing stock information in Beijing, July 9, 2015.

    Mainland China's heavy-handed intervention in its stock market damages the credibility of its broader efforts to become a more open market.

  • Iran nuke deal could set off an arms race Friday, 10 Jul 2015 | 2:40 PM ET
    Two Iranian navy warships dock in the Sudanese Red Sea city of Port Sudan.

    An Iran nuclear deal could mean a possible arms race in the Middle East——or improved relations between historic enemies, experts say.

  • *Net profit grew 2.5 pct last year to $89.1 bln. BEIJING, July 3- China's sovereign wealth fund China Investment Corp is ready to work with the new Chinese-led Asian Infrastructure Investment Bank to invest in projects in the region, a senior official said on Friday. The AIIB, which is expected to rival institutions such as the World Bank and the Asian Development...

  • DHAKA, July 2- The World Bank has upgraded Bangladesh, Kenya, Myanmar, and Tajikistan to its lower middle income classification from least developed countries while South Sudan has fallen back into the low-income group. Mongolia and Paraguay moved from lower middle-income status to upper middle-income, where income is $4,126 to $12,735 a year, the bank said,...

  • What June jobs miss means for Fed rate hike timing Thursday, 2 Jul 2015 | 9:35 AM ET
    A new employee fills out paperwork as he starts his new job at Smoothe King in Miami, Florida.

    Investors looking for clues on how the slightly weaker-than-expected June jobs report figures into the Fed's thinking should relax, market watcher Richard Bernstein tells CNBC.

  • The 'unprecedented' drought that you don't know Wednesday, 1 Jul 2015 | 9:00 AM ET
    The Jaguari Jacarei river dam, part of the Cantareira System of dams, is shown in Joanopolis, Brazil.

    São Paulo is experiencing a water crisis so bad that experts say it could impact business internationally.

  • UPDATE 1-China parliament ratifies BRICS Bank agreement Wednesday, 1 Jul 2015 | 4:25 AM ET

    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 Standing Committee of the National People's Congress, China's legislature, approved the agreement between Brazil, Russia, India, China and South Africa to create the...

  • BEIJING, July 1- The World Bank on Wednesday censured China for the state's extensive interference in the financial system, saying it could stoke potential instability unless Beijing undertakes urgent reforms to eliminate distortions in the broader economy. In its China economic update, the bank welcomed the slowdown in Asia's powerhouse economy as it...

  • China parliament ratifies BRICS Bank agreement Wednesday, 1 Jul 2015 | 12:30 AM ET

    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 Standing Committee of the National People's Congress, China's legislature, approved the agreement between Brazil, Russia, India, China and South Africa to create the...

  • SHANGHAI, July 1- China's yuan dipped on Wednesday as dollar demand slightly outweighed supply after the central bank set the official guidance rate weaker, traders said. The World Bank warned on Wednesday that capital outflows from China had increased sharply in recent months, but its comments had no immediate impact on trading, traders said.

  • BEIJING, July 1- The World Bank said on Wednesday it expects China's economy to grow 7.1 percent this year, the same as forecast earlier, before cooling to 7.0 percent next year and 6.9 percent in 2017.. The World Bank said that a priority for the country in 2015 was to make inroads on structural adjustments while balancing reform with short-term demands.

  • What's next for China's 'World Bank'? Tuesday, 30 Jun 2015 | 10:00 AM ET
    Jin Liqun, left, current secretary general of the Multilateral Interim Secretariat of Asian Infrastructure Investment Bank, shakes hands with China's Finance Minister Lou Jiwei ahead of a signing ceremony of articles of agreement of the AIIB, at the Great Hall of the People in Beijing, June 29, 2015.

    How China's new Asian Infrastructure Investment Bank can rival the West's World Bank, says Curtis Chin.

  • China asserts soft power with largest AIIB stake Monday, 29 Jun 2015 | 12:44 AM ET
    Investors look at computer screens showing stock information at a brokerage house in Qingdao, Shandong province, China.

    China will hold a 30.34 percent stake in the AIIB, making Beijing the largest shareholder that will project the country's growing soft power.

  • 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...

  • Japan says no to China's big bank plans...for now Thursday, 25 Jun 2015 | 1:10 PM ET
    Japan's Prime Minister Shinzo Abe

    With the perception of China using the AIIB to push its political agenda, Japan is unlikely to join as of now.

  • 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...