A UN agency wants the Fed to slow its interest rate hikes

The Federal Reserve's aggressive tightening policy has led the US dollar to appreciate to multi-decade highs. Now, a United Nations agency is warning that its actions, along with those of other...

Ukrainian economy will shrink at rate eight times that of Russia, World Bank forecasts

Kyiv economy will contract by 35% in 2022, compared with a 4.5% fall in Russian GDPRussia-Ukraine war – live updatesUkraine’s economy will shrink at a rate eight times that of Russia this year as...

Social, infrastructure investment key for Latam growth

NEW YORK - Social and infrastructure investments can be key drivers of growth for Latin America and the Caribbean as countries now face the longer-term effects of the pandemic on education and...

Government Malinvestment Is Endemic and Ceaușescu's Socialist Romania Excelled in It

Today’s intellectual framework considers government spending to be the solution to any economic and social problem. Be it helicopter money to households and businesses during the pandemic,...

World Bank sees weak growth in 2023 for eastern Europe, central Asian countries

By David Lawder WASHINGTON - The World Bank said economic output for its regional grouping of countries in eastern Europe and central Asia is forecast to contract by 0.2% in 2022 and return to...

World Bank: Ukraine's war-torn economy will sink 35% in '22

Devastated by Russia’s invasion eight months ago, the Ukrainian economy will plunge 35% this year

A UN agency wants the Fed to slow its interest rate hikes

The Federal Reserve's aggressive tightening policy has led the US dollar to appreciate to multi-decade highs. Now, a United Nations agency is warning that its actions, along with those of other...

Depositors storm 3 Lebanese banks, demanding their own money

BEIRUT (AP) — Lebanese depositors, including a retired police officer, stormed at least three banks in the cash-strapped country Tuesday after banks ended a week-long strike and partially...

World Bank approves Egypt $400 million to improve and decarbonize logistics and transportation sectors

CAIRO -The World Bank has agreed to provide Egypt with $400 million to develop the logistics and transportation sectors and support the shift towards lower carbon emissions, the group said in a...

World Bank criticised over climate crisis spending

Oxfam research suggests up to 40% of bank’s reported climate-related spending cannot be accounted forThe World Bank has come under fire for failing to show that its claimed spending on the climate...

Factories Making Towels and Bedsheets Are Shutting in Pakistan

Pakistan's small textile mills are starting to shut after devastating floods wiped out its cotton crop. As many as 100 smaller mills have suspended operations due to a shortage of good quality...

Marketmind: Can Q4 stop the rot?

- A look at the day ahead in Asian markets from Jamie McGeever The final quarter of the year kicks off on Monday and the market mood could not be darker. This may in fact be one of the few sources...

Junta set to stay in power after Chad delays elections by two years

By Mahamat Ramadane N'DJAMENA - Chad has adopted resolutions that push back democratic elections by two years and allow interim leader Mahamat Idriss Deby to stay in power and be eligible to run...

World Bank to give Ukraine $530 million in additional aid

- The World Bank has said it will provide an additional $530 million in support to Ukraine, bringing the total aid by the bank to $13 billion, as Russia's invasion of the country continues. The...

IMF board approves new food shock financing window to ease war shortages

By David Lawder WASHINGTON - The International Monetary Fund said on Friday its executive board has approved a new food shock borrowing window under its existing emergency financing instruments...

IMF says Ukraine war prompts worst global food crisis since at least 2008

By David Lawder WASHINGTON -The Ukraine war's disruptions to grain and fertilizer flows have prompted the worst food security crisis since at least the one following the 2007-2008 global...

Recycling in Saudi Arabia to pull in $32bn income by 2035: minister

Fri, 2022-09-30 18:01 RIYADH: Recycling in Saudi Arabia will generate an annual income of SR120 billion ($32 billion) by 2035, according to the minister of environment, water and...

Fewer trips for China's Golden Week amid quarantine fears

BEIJING (AP) — While China's top leaders commemorated revolutionary martyrs Friday, far fewer Chinese are expected to be traveling during the upcoming “Golden Week” National Day holidays amid...

Al Gore & John Kerry Aim To Hijack The World Bank For Climate Agenda

Al Gore & John Kerry Aim To Hijack The World Bank For Climate Agenda Authored by Mike Shedlock via MishTalk.com, Let's discuss the goals of the World Bank and climate activists aim to...

Al Gore calls for World Bank President David Malpass to be fired for his climate record

'He needs to be replaced immediately,' said the former U.S. Vice President at Fortune's Global Sustainability Forum.

Prepare for global recession and stagflation, World Bank chief warns

Coinciding economic challenges threaten to rattle the world, and especially developing countries.

Aaaand It's Gone..

Aaaand It's Gone... No-show from The Bank of England this morning to 'save the world' and some 'good news' from US labor markets - not at all what The Fed wants to see - and the...

Analysis-Nigeria squanders oil price bonanza as gasoline subsidies soar

By Julia Payne LONDON - Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing...

Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says

World Bank chief David Malpass: Developing nations face challenging near-term outlook. Malpass says sharp slowdown in global growth raises risks of a prolonged recession. High food, fertilizer and...

Multipolar World Order

Multipolar World Order – Part 2 Authored by Iain Davis via Off-Guardian.org, In Part 1, we discussed the nature of “world order” and global governance. We learned the crucial...

Developing Countries Face Stiff Economic Headwinds, World Bank Chief Says

The head of the World Bank warned that developing nations face an extremely challenging near-term outlook, as the sharp slowdown in global growth raises the risks of a prolonged recession.

Japan to consider steps to cushion blow from rising utility bills

TOKYO -Japan's government is considering steps such as cash payouts to households and firms as well as subsidies for utilities to cushion the blow from rising electricity bills, the Nikkei...

World Bank to discuss in October replacement for 'Doing Business' reports

WASHINGTON - The World Bank's board will discuss plans next month for replacing the bank's annual "Doing Business" rankings that were canceled in September 2021 after an external report found...

World Bank's Malpass sees risk of stagflation, likely recession in Europe

WASHINGTON - World Bank President David Malpass on Wednesday warned that it could take years for global energy production to diversify away from Russia, prolonging the risk of stagflation, or a...

Why climate activists need to leave the president of the World Bank alone

David Malpass has been president of the World Bank since April 2019. He was appointed under President Trump but he has served as World Bank president for the last two years under President...

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