International Organizations
World Bank
JOHANNESBURG, Sept 19- The World Bank on Tuesday halved its 2017 growth forecast for South Africa after the economy fell into recession earlier this year. But the bank warned any prospect of recovery would "remain fragile" unless South Africa succeeds in becoming more productive. South Africa is well placed in exports markets but we don't see the country's...
The ambitious program launched by the then-conservative government in 2007 led to the World Bank ranking Macedonia 10th in the world for ease of doing business. The VMRO-DPMNE party that governed Macedonia for a decade rejected the current government's criticism. It said only 50 million euros in state subsidies was provided to all foreign companies in...
BEIJING, Sept 12- The world economy is showing positive signs but is still fragile and countries should rely on structural reforms, not quantitative easing, to support growth, Chinese Premier Li Keqiang said on Tuesday. Li, who met with the heads of global bodies, including International Monetary Fund Managing Director Christine Lagarde and World Bank...
*World Bank initially aimed for capital increase deal in Oct. TOKYO, Sept 7- The World Bank should not be "bogged down" on a specific date for member countries to boost its capital, a senior executive of the multilateral lender said, suggesting a deal won't be struck before the initial deadline of end-2017. The World Bank has been pushing over the past few years for a...
JOHANNESBURG, Aug 17- A New Development Bank set up by the "BRICS" group of emerging economies plans to lend $1.5 billion to South Africa for infrastructure projects over the next eighteen months. The BRICS- Brazil, Russia, India, China and South Africa- agreed to create the infrastructure-focussed lender in July 2014 as an alternative to the World Bank, launching it...
Crystallex is seeking to collect on a $1.4 billion award it won via a World Bank arbitration panel in 2016.. The company on Monday asked the United States District Court for the District of Delaware to attach shares in Delaware- based PDV Holding, a PDVSA subsidiary that owns of refining and marketing company Citgo Petroleum. Companies ranging from U.S. oil giant...
BANJUL, July 11- The World Bank will provide Gambia with $56 million in budget support to help the West African country's new government address a high deficit and provide basic public services. Despite an influx of foreign donor money after succeeding longtime strongman Yahya Jammeh in January, President Adama Barrow's government is struggling to balance...
ABUJA, July 11- Nigeria must not borrow more to fund its budget and should instead raise money it needs by other means, the country's finance minister said on Tuesday, calling into question planned foreign loans of $2 billion from lenders like the World Bank. But plans for lenders like the World Bank and African Development Bank to loan at least $2 billion to...
President Donald Trump shared the G20 spotlight on Saturday with his daughter and adviser Ivanka Trump, as she helped launch a loan programme for women and caused a stir by briefly occupying her dad's seat at the table with world leaders. The World Bank used the occasion to launch a public-private loan programme aimed at providing over $1 billion to support...
HAMBURG, July 8- The World Bank on Saturday launched a public-private loan program aimed at providing over $1 billion to support women entrepreneurs in developing countries, a project first initiated by U.S. The event put a spotlight on the powerful political role Ivanka Trump plays in the White House, where she has a formal job as an adviser to her father, and has...
HAMBURG, July 8- The World Bank on Saturday launched a public-private loan programme aimed at providing over $1 billion to support women entrepreneurs in developing countries, a project first initiated by U.S. The event put a spotlight on the powerful political role Ivanka Trump plays in the White House, where she has a formal job as an adviser to her father, and...
*Zimbabwe owes more than $1.75 billion abroad. HARARE, July 7- Zimbabwe is yet to reach a deal with the World Bank and other foreign lenders over clearing arrears and implementing reforms, the International Monetary Fund said, warning that reliance on raising money domestically could further fan inflation. The IMF said in a statement on Friday after a meeting of...
*Zimbabwe owes more than $1.75 billion in foreign arrears. HARARE, July 7- Zimbabwe is yet to reach a deal with the World Bank and other foreign lenders over clearing arrears and reforms, the International Monetary Fund said, warning that reliance on central bank finance could fan inflationary pressures. On April 27, Zimbabwean Finance Minister Patrick...
**PARIS- French President Emmanuel Macron meets World Bank President Jim Yong Kim at the Elysee Palace- 0900 GMT. **WASHINGTON- Federal Reserve Board Governor Jerome Powell speaks on "The Case for Housing Finance Reform" before the American Enterprise Institute in Washington- 1400 GMT. PARIS- ECB executive board member Peter Praet participates in International...
**PARIS- French President Emmanuel Macron meets World Bank President Jim Yong Kim at the Elysee Palace- 0900 GMT. **WASHINGTON- Federal Reserve Board Governor Jerome Powell speaks on "The Case for Housing Finance Reform" before the American Enterprise Institute in Washington- 1400 GMT. PARIS- ECB executive board member Peter Praet participates in International...
Physically linking people and cities is still the bread and butter of the World Bank and affiliates, but the digital space is becoming more important.
TORONTO, June 29- Gabriel Resources Ltd will seek $4.4 billion in damages from Romania for losses related to its long-stalled Rosia Montana gold mine project in a claim that the Canadian miner plans to file Friday with a World Bank Tribunal. Gabriel, whose project has been in the works for 18 years, will argue that Romania violated several investment treaty...
China's economic rise and its mega projects may spur conspiracy theories, but the AIIB said it does not just serve Chinese interests.
Bond investor Bill Gross warned that monetary policy has exacerbated a disconnect between the financial and the real economy.
CARACAS, June 12- Canadian mining company Crystallex has won a court order that advances its efforts to collect on a $1.4 billion award linked to a dispute with Venezuela over the 2008 expropriation of the Las Cristinas gold project. Crystallex in 2016 won an award of $1.2 billion plus interest from a World Bank Tribunal. District of Columbia court upholding...
