The Latest Breaking News from World Bank

Climate activists have never liked Trump-appointed World Bank President David Malpass. But this week, his comments on climate change fueled calls for President Biden to make a change.

A top climate adviser to President Joe Biden on Friday said the head of the World Bank should "not mince words" on the scientific consensus on climate change and is out of step with the American public.

Under pressure to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday it was clear greenhouse emissions are causing climate change and defended his record as bank chief.

The stock market has been under pressure amid the high inflation and the Fed’s hawkish tilt. The Fed launched another 75 basis-point rate hike on Wednesday and indicated that it would keep increasing rates to bring down inflation to the target level. Thus, we think fundamentally solid stocks AbbVie (ABBV),…

Raging inflation and the Fed’s commitment to bring it under control with rate hikes are raising recession worries. However, according to BofA, the market could see a rally later this year. Given the macro uncertainties, we think investors should add fundamentally solid stocks Microsoft (MSFT), Merck & Co. (MRK), and…

The World Bank on Monday urged five West African countries to diversify their economies to adapt to climate change, warning they are extremely vulnerable to extreme weather patterns. A report said Burkina Faso, Chad, Mali, Mauritania, and Niger -- all in the arid Sahel region -- are among the world’s…

An agreement to transport Egyptian gas to Lebanon via Syria is currently disrupted by Lebanon’s failure to meet the conditions for obtaining a World Bank loan and Washington’s reluctance to give an official approval confirming that the deal is not affected by the Caesar Act, sources told Asharq Al-Awsat on…

Kenya’s newly elected president, William Ruto, has earned more legal space to borrow for his grandiose economic plan after parliament recently raised the country’s public debt ceiling to KSh10 trillion (US$100 billion). The new administration says the country is broke but Kenya is already living beyond its means and the…

Lebanese caretaker Economy Minister Amin Salam affirmed on Tuesday that the International Monetary Fund (IMF) delegation visiting Beirut this week carries a very clear message stressing an urgency that Lebanon approves and passes reform laws. “The IMF carries a very clear message, which is the urgency in approving these laws;…