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World Bank

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  • 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.

  • 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.

  • The 10 toughest countries for business Wednesday, 10 Dec 2014 | 8:45 AM ET

    CNBC.com takes a look at the world's most difficult countries in which to do business, based on a report from the World Bank.

  • Pragmatisim is driving global economics: Pro Monday, 17 Nov 2014 | 8:47 PM ET
    Pragmatisim is driving global economics: Pro

    Laurence Brahm, Founder of the Himalayan Consensus Institute, discusses the emergence of a new financial framework that has spurred the integration of third world nations with its developed peers.

  • World Bank warns on Russia as sanctions bite Wednesday, 24 Sep 2014 | 8:43 AM ET

    The World Bank cut its Russia growth forecast on Wednesday, warning of economic stagnation until 2016.

  • World Bank chief on Russia and Ukraine crisis Friday, 19 Sep 2014 | 1:15 AM ET
    World Bank chief on Russia and Ukraine crisis

    Jim Yong Kim, President of the World Bank, says the organization has a good relationship with Ukraine and Russia but the G20 meeting needs to help "turn down the heat" in the crisis.

  • World Bank chief on Scottish referendum Friday, 19 Sep 2014 | 1:15 AM ET
    World Bank chief on Scottish referendum

    Jim Yong Kim, President of the World Bank, says "good things" came out of the Scottish independence referendum.

  • G20 role 'critical' in financial crisis: World Bank head

    Jim Yong Kim, President of the World Bank, defends the G20 meetings saying the group played a "critical" role in the financial crisis.

  • World Bank: 2.8% global growth is achievable Wednesday, 10 Sep 2014 | 10:44 PM ET
    World Bank: 2.8% global growth is achievable

    Kaushik Basu, Senior VP & Chief Economist at World Bank, says it lowered its global growth forecast due to geopolitical tensions. He later explains why U.S. engagement in Iraq is necessary.

  • Anger is not a strategy for dealing with Russia Monday, 8 Sep 2014 | 12:34 PM ET
    Russia's President Vladimir Putin

    It is natural to feel angry at Vladimir Putin’s aggression and deceptions in Ukraine, but anger is not a strategy, says Harvard Professor Joseph Nye.

  • The Export-Import Bank is NOT a subsidy: economist Thursday, 7 Aug 2014 | 11:53 AM ET
    The building that houses the Export-Import Bank is shown in this photo.

    It is wrong to call the Export-Import Bank a subsidy for US business, says the chief economist for the National Association of Manufacturers.