To sustain 7.6% growth, activate stalled engines: World Bank to India

To sustain 7.6% growth, activate stalled engines: World Bank to India

India needs to activate "stalled engines", including private investment and rural demand, to sustain 7.6 percent growth rate in the coming years, World Bank said Monday.

Bangladesh signs $130 mn World Bank loan for economic zones

The Bangladeshi government has signed a $130 million additional financing agreement with the World Bank to scale up support for the recently licensed and new economic zones to attract foreign and domestic investment as well as to create more jobs in the manufacturing sector.

India records 10-year low in public private investments: World Bank

India records 10-year low in public private investments: World Bank

India recorded a 10-year low in investments in public-private sector in the year 2015, adding to contraction that pulled down the global investment to below its five-year average of USD 124.1 billion, the World Bank has said.

 

World Bank downgrades India's growth rate by 0.2%, predicts 7.6% growth

World Bank downgrades India's growth rate by 0.2%, predicts 7.6% growth

The bank also modified its projections for India's growth rate in 2017 and 2018 by a marginal down gradation of 0.2 percent to 7.7 percent growth in both the years.

India is a “lower-middle-income” country for World Bank

India is a “lower-middle-income” country for World Bank

The World Bank has dropped the use of developing nation tag for India in its specialised reports and instead classifies it as a "lower-middle-income" economy in South Asia, a top official has said.

BRICS bank to issue first yuan-denominated bonds

BRICS bank to issue first yuan-denominated bonds

Beijing: The New Development Bank of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee, a top official of the bank has said.

India signs $100 mn loan agreement with World Bank

India signs $100 mn loan agreement with World Bank

India Tuesday signed a USD 100 million (about Rs 677 crore) loan agreement with multilateral lending agency World Bank for Karnataka Urban Water Supply Modernisation Project.

Billion-plus at risk as cities remain unprepared for extreme weather and natural disasters

Billion-plus at risk as cities remain unprepared for extreme weather and natural disasters

The global institution predicted that by 2050, worsening rivers and coastal floods alone would affect 1.3 billion people.

China-led AIIB to hold first annual meet next month

China-led AIIB to hold first annual meet next month

The China-led Asian Infrastructure Investment Bank (AIIB) in which India is a founding member will hold its first annual meeting of its board of governors on June 25 here in which the admission of new members was expected to be discussed.

Maharashtra seeks Rs 5,000 crore WB loan for drought mitigation

Maharashtra seeks Rs 5,000 crore WB loan for drought mitigation

Maharashtra Government is seeking a loan of Rs 5,000 crore from the World Bank for implementing drought-mitigation steps, from water conservation to changing crop pattern, Chief Minister Devendra Fadnavis said on Monday.

World Bank to lend Ecuador $150 million to speed aid to quake victims

The World Bank said on Friday it would lend Ecuador $150 million to speed up assistance to victims of last week`s major earthquake that devastated large areas of the country`s northern coast.

Panama Papers: IMF, World Bank, UN, OECD form new group to stop tax erosion

Panama Papers: IMF, World Bank, UN, OECD form new group to stop tax erosion

The International Monetary Fund and the World Bank said on Tuesday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.

Countries look to draw expatriate cash with "diaspora bonds"

A growing roster of developing states are turning to their compatriots abroad to raise cash by marketing "diaspora bonds", a funding strategy successfully pioneered by India and Israel but sometimes tricky to imitate

Iran says West not sticking to commitments on easing sanctions

The international community is not sticking to its promises to lift sanctions on Iran. 

Top EU nations urge tax crackdown

Europe's top economies called for a crackdown on tax havens and urged G20 countries to rip away the secrecy protecting shell companies, as the Panama Papers scandal claimed Spain's industry minister as the latest political victim today

G20 ministers face pressure on economic growth, tax evasion

G20 ministers face pressure on economic growth, tax evasion

Finance ministers of the world`s top economies face pressure to do more for global growth and crack down on tax evasion when they gather Friday during the spring meetings of the IMF and World Bank.

IMF, World Bank focus on economic risks of Brexit, tax evasion

IMF, World Bank focus on economic risks of Brexit, tax evasion

The IMF and World Bank focused Thursday on Britain`s possible EU pullout and widespread tax evasion as key threats to the global economy as they opened their Spring Meetings.

Despite $1 billion drop, India retains world's largest remittance recipient country tag in 2015

Despite $1 billion drop, India retains world's largest remittance recipient country tag in 2015

India retained its top spot in 2015, attracting about USD 69 billion in remittances, down from USD 70 billion in 2014, the World Bank said in its annual report 'Migration and Development Brief'.

Dark economic cloud over IMF-World Bank meeting

 Worries that the global economy is nearing a stall made worse by the specter of `"Brexit" cloud the air as the world`s finance chiefs gather in Washington beginning Thursday for the IMF-World Bank Spring meetings.

IMF chief eyes 'bigger, bolder' effort on refugee crisis

International Monetary Fund Managing Director Christine Lagarde on Wednesday said efforts to deal with refugees from war-torn countries in the Middle East and North Africa required a "bigger, bolder and broader approach."