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The Latest Breaking News from World Bank

WASHINGTON: The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter.

Bangkok Post

Signs of economic slowdown alarming

The Thai government, businesses, and citizens are cherishing the news of returning Chinese tourists with the first group of 286 passengers who arrived on Monday. The Tourism Authority of Thailand estimates that 5 million Chinese tourists will visit our country this year, bringing with them 250 billion baht in spending…

Bangkok Post

Egyptian Inflation Reaches Highest Level in 5Y, IMF Expects a Decline After 2Y

Egypt's annual urban consumer inflation rose sharply in December to 21.3 percent, its highest level in five years, according to Central Agency for Public Mobilization and Statistics (CAPMAS). The inflation rate in December was the highest since 2017 when it reached 21.9 percent. The rise from 18.7 percent in November…

Asharq Al-Awsat

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World Bank cuts Pakistan’s GDP growth projection to 2 percent

Predicting a difficult year ahead, bank revises nation’s growth from 4 percent last year to 2 percent in current fiscal.

Al Jazeera

French pension reform plans raise concern among manual workers

The French government's plan to raise the retirement age from 62 to 64 has many people worried, especially those who work in physically demanding professions. Though the government says there will be possibilities for early retirement based on working conditions, we meet French metalworkers who remain concerned about their future.…

France 24

Most Asian markets rise on recovery hope as inflation data looms

Hong Kong (AFP) - Most Asian equities pushed higher Wednesday as investors were buoyed by China's reopening and optimism that key data due this week will signal a further slowdown in US inflation.

AFP

Asian markets rise again on recovery hope as inflation data looms

Hong Kong (AFP) - Asian equities pushed higher Wednesday as investors were buoyed by China's reopening and optimism that key data due this week will signal a further slowdown in US inflation.

AFP

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Stocks waver as traders eye US inflation and interest rates

New York (AFP) - Global stocks wavered Tuesday following a downcast World Bank economic forecast as investors hold their breath ahead of key inflation data and earnings reports.

AFP

ASX gains despite higher inflation, job-vacancies dip, and World Bank warns of looming recession — as it happened

The cost of living continues to climb and employers are still scrambling to find workers, but the Australian share market has jumped 1 per cent thanks to big miners and a rise on Wall Street.

ABC News

World Bank warns of trigger to global recession as economies on the brink

The world is teetering on the brink of recession — the first time in more than 80 years that two global recessions have occurred within the same decade,

The New Daily

World Bank: Recession a Looming Threat for Global Economy

The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday. In an annual report, the World Bank, which lends money to poorer countries for…

Asharq Al-Awsat

World Bank warning: Global economy is at risk of recession

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warns

The Independent UK

Economists see a silver lining to China’s COVID chaos: better-than-expected 2023 economic growth

Banks are raising their forecasts for China's 2023 GDP growth, even as the country endures a massive COVID wave.

Fortune

Over $9 bn raised for Pakistan flood recovery

Geneva (AFP) - Pakistan received over $9 billion in pledges Monday to help it recover from last year's catastrophic floods, vowing to become a model for how countries can build climate change resilience.

AFP

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AFP

Pakistan seeks billions for flood recovery, climate resilience

Geneva (AFP) - Pakistan will ask Monday for billions in international support towards its recovery from the aftermath of last year's devastating floods and to help it better resist climate change.

Asharq Al-Awsat

Riyadh to Host Int’l Conference on Future of Strategic Minerals

Saudi Arabia will host on Tuesday a round-table meeting of ministers concerned with mining affairs, to discuss the means to build a conscious global mineral sector that meets the increasing demand for strategic minerals. Sixty countries, represented by 40 ministers and 18 high-level officials, will participate in the meeting, along…

The News Lens

Thailand Welcomes Tourism, Economic Progress, Looks Ahead to 2023 Elections

Experts say the elections could promote further economic growth and create stability for the kingdom.

Salon

War accelerating clean energy adoption

Call it the Putin effect: Russia’s war is speeding up the global shift away from fossil fuels

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Dynamite News

South Kashmir's Longest Bridge To Be Commissioned Soon In Kulgam

The construction of south Kashmir's longest bridge in Kulgam district is in the final stages and this bridge will be thrown open for commuters next month, an official said on Wednesday. Read on for details:

Bangkok Post

Adaptability is key to national survival

Covid-19. Technological disruption. Climate crisis. These have happened at a rapid pace that challenges the adaptability of people around the world. Is Thailand prepared to withstand these challenges? Ask the children -- the future of the country -- and their answers, according to the 2018 PISA Survey of 15-year-old children…

Reuters

Exclusive-World Bank seeks more funds to address climate change, other crises -document

The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools, according to an "evolution roadmap" seen by Reuters on Monday.

Bangkok Post

State key to stimulating expansion

The acceleration of state investment in 2023 should provide a tailwind to propel economic growth momentum, says Finance Minister Arkhom Termpittayapaisith.

Zenger

Former Russian President Says Elon Musk Will Be America’s Next President

Former Russian President Says Elon Musk Will Be America's Next President

360info

Poverty battle raged on in 2022, here are four ways women are working to escape it

Research across the world demonstrates how global poverty can be tackled effectively by empowering women in all aspects.

Bangkok Post

Economic risks to watch out for in 2023

The world will end 2022 with big celebrations. Yet not because of robust economic growth, as growth this year is projected to be only 3.2% -- following the International Monetary Fund's (IMF) recent projections -- compared to 6.0% growth in 2021.

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People

Arkhom Termpittayapaisith

Thitinan Pongsudhirak

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Tourism Authority of Thailand

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VoA

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