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  • Emerging economies to weigh on growth: World Bank Wednesday, 6 Jan 2016 | 3:01 PM ET

    Weak growth among major emerging markets will weigh on growth in 2016, with advanced economies solely responsible for a modest expansion.

  • KAMPALA, Dec 22- The World Bank has canceled a $265 million infrastructure project in Uganda after a review found evidence of misconduct by its contractor, including sexual harassment of female workers and road workers having sexual relations with underage girls. The project, which included the construction of about 225 km of road in western Uganda, began in...

  • CAIRO, Dec 15- The African Development Bank has approved a $1.5 billion loan to Egypt to be paid out over three years, International Cooperation Minister Sahar Nasr told Reuters on Tuesday. Egypt expects to receive an additional $1 billion from the World Bank by the end of the year to support the budget and could discuss potential IMF financing once parliament...

  • East Asia's latest worry: Aging population Wednesday, 9 Dec 2015 | 1:42 AM ET

    Many countries in East Asia risk losing as much as 15 percent of their workforce to aging population by 2040, according to the World Bank.

  • LONDON, Dec 3- Britain said it had become the first Group of Seven economy to sign off on the rules of a China- backed development bank for Asia, which is seen by the United States as an unwelcome rival to Western-led institutions such as the World Bank. "This caps a tremendous year for the UK's economic relations with Asia, the fastest growing region of the world...

  • BEIJING, Dec 2- The president-elect of China's new international development bank said he expects the institution to lend $10 billion- $15 billion a year for the first five or six years, and sought to allay concerns that the lender will be a tool of Beijing. A successful Asian Infrastructure Investment Bank that sets itself apart from the World Bank would be a...

  • BEIJING, Dec 1- The president-elect of China's new international development bank said he expects the institution to lend $10 billion- $15 billion a year for the first five or six years, and sought to allay concerns that the lender will be a tool of Beijing. A successful Asian Infrastructure Investment Bank that sets itself apart from the World Bank would be a...

  • BEIRUT, Nov 18- The World Bank expects to make a $1 billion development policy loan available to Egypt in December if all goes to plan after completing negotiations in Cairo last weekend, a senior World Bank official said. The loan could be the first of three as part of a three-year program with Egypt, Hafez Ghanem, the World Bank's vice president for the Middle East...

  • BEIRUT, Nov 18- A new international bond and grant scheme to help countries dealing with the fallout of war and instability in the Middle East and North Africa should be in place by spring, a senior World Bank official said. In a Reuters interview, Hafez Ghanem, the World Bank's vice president for the Middle East and North Africa, said the type of investment targeted...

  • ATHENS, Nov 13- The International Finance Corporation, a unit of the World Bank, plans to invest up to 300 million euros in the recapitalisation of Greece's four big banks via their share issues, an IFC executive said on Friday. Greece's four main banks- National, Piraeus, Eurobank and Alpha- need to fill a 14.4 billion euro capital hole, revealed in a European Central...

  • Fight climate change to tackle poverty Monday, 9 Nov 2015 | 9:00 AM ET
    Fight climate change to tackle poverty

    The World Bank suggests the number of the poorest people will rise if greenhouse gas emissions aren't curbed.

  • PM Modi's monthly fight to revive stalled projects Friday, 30 Oct 2015 | 2:50 AM ET
    India's Prime Minister, Narendra Modi.

    PM Narendra Modi is personally taking on India's notorious red tape to clear tens of billions of dollars worth of stalled public projects.

  • *World Bank says Indian bankruptcy takes average 4.3 years. *Average recovery just 25.7 cents on dollar- World Bank. MUMBAI, Oct 30- A group of government-appointed advisors has recommended sweeping changes to India's outdated and overburdened bankruptcy system, aiming to modernise a process that takes several years and costs investors and taxpayers...

  • WASHINGTON, Oct 27- Costa Rica made the most progress over the last year in reforming its economy to become more business friendly, the World Bank said in its annual report card on Tuesday. India moved up to place 130th from 134th, but still trailed fellow emerging markets South Africa, China and Brazil. The World Bank praised Uganda, Kenya, Cyprus, Mauritania,...

  • Boom year for Myanmar's greenback black market Monday, 19 Oct 2015 | 11:13 PM ET
    Employees at the KBZ Bank in Yangon, Myanmar.

    Banks in Myanmar bought hundreds of millions of dollars in the black market this year, banking sources said, raising concerns about regulation.

  • *World Bank praises Ghana economic reform plan. ACCRA, Oct 16- Nigeria has deferred a plan to slash gas exports to Ghana beginning Friday over an outstanding debt of $181 million, alleviating a threat that could have worsened electricity blackouts and caused another headache for the government. Ghana gets around 25 percent of its power through gas from Nigeria...

  • DIARY-Top Economic Events to Oct 29 Thursday, 15 Oct 2015 | 8:01 PM ET

    MILAN, Italy- Italian Economy Minister Pier Carlo Padoan, European Bank for Reconstruction and Development President Suma Chakrabarti and World Bank Director General Sri Mulyani Indrawati speak at the Finance for Food conference in Milan. CHICAGO- The board of governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the...

  • Economic slowdown prompts scrutiny of African data Thursday, 15 Oct 2015 | 7:45 AM ET

    *African economies struggle on China, commodity prices. But a slowdown in China has depressed demand and global prices for the commodities exports that many African nations rely on, prompting the IMF and World Bank to slash economic growth forecasts this month. "Numbers are being scrutinised more closely now things aren't going so well," said Simon Freemantle,...

  • NEW YORK, Oct 12- The U.S. dollar fell on Monday and gold continued to rise as markets priced the possibility that the Federal Reserve would not begin a tightening cycle this year, while U.S. stocks opened little changed. Speaking at the annual autumn meeting of the IMF and World Bank in Lima, Peru on Sunday, Federal Reserve vice-chairman, Stanley Fischer, said...

  • SHANGHAI, Oct 12- Now is not the right time for the United States to raise interest rates, given the global economic situation, China's Finance Minister Lou Jiwei said in an interview published in the China Business News on Monday. Speaking on the sidelines of the annual meeting of the World Bank and International Monetary Fund in Lima, Lou said developed...