International Organizations
World Bank
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...
Joaquim Levy, World Bank Group, says there's some good news for the global economy, including an increase in trade flows.
*World Bank draft report critical of Ghana cocoa regulator. ACCRA, June 5- Corruption and regulatory mismanagement of Ghana's cocoa industry are denting production and harming farmers, underlining the need for reform, the World Bank said in a draft report seen by Reuters. Ghana produced a record 1 million tonnes of cocoa in the 2010-11 season, but output has since...
DAKAR, May 31- The World Bank will provide $29 million to help Senegal as it negotiates oil and gas contracts with producers, it said on Wednesday. Oil firms including BP and Total are developing previously untapped oil and gas fields off Senegal's Atlantic coast that could bring billions of dollars of profits to the impoverished country in the next decade.
NEW DELHI, May 29- India's economy could achieve double-digit growth if New Delhi pushes reforms to increase women's participation in the country's workforce, a World Bank report said on Monday. Underscoring the gravity of the situation, the World Bank said nearly two-thirds of Indian women with college degrees are without jobs. The unemployment rate for...
