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The Latest Breaking News from World Bank

The pandemic is not over. While the summer of this year is very different from the summer of 2020, because we now have vaccines, treatments, and a better understanding of the virus, it's not enough. Every week, 15,000 people still die from Covid-19. Poorer countries still struggle to deploy vaccines,…

Bangkok Post

Spot gold declines to lowest in over 2 years

The spot gold price dropped to its lowest level in more than two years, pressured by a strong US dollar and the rise of US government bond yields amid concerns about prolonged tightening monetary policy and the likelihood of recession.

Bangkok Post

Asian markets sell off amid recession worries

RECAP: Asian markets sold off sharply on Friday and Europe followed as investors braced for a hefty US rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.

Bangkok Post

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Sergio Perelberg obituary

Other lives: Civil engineer who led infrastructure projects, including for the World Bank and the EU, across five continents

The Guardian - UK

Daily Dose Ep 1152: Kejriwal ‘doesn’t understand liquor policy scam’, World Bank warns of global recession

Anwiti Singh brings you the news from New Delhi, Maharashtra, Samarkand, the World Bank, and NASA.

Newslaundry

Who funds CPR, the ‘centrist’ think tank under Income Tax scanner?

The Centre for Policy Research, which has recently come under the tax scanner for alleged irregularities in funding, prides itself on staying true to its “non-partisan” and “independent” values. Since its inception in 1973, the think tank has undertaken studies on almost every topic under the sun, and its academic…

Newslaundry

Pound drops to fresh 37-year low against dollar, as retail sales fall sharply – as it happened

Risk of UK recession heightens with retail slump, while World Bank warns of global recession

The Guardian - UK

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ASX dives again amid rate rise and recession fears, gold and oil stocks fall

The ASX and Wall Street stumble again on worries about steep interest rate rises next week by the Federal Reserve, and after the Reserve Bank governor says more rate rises are needed to curb inflation. The World Bank warns of a global recession because of higher rates.

ABC News

How central banks are risking a global recession

Major economies are delivering interest rate increases to quash domestic inflation.

Axios

World Bank earmarks $30 billion to help offset food shortages worsened by war in Ukraine

The World Bank is willing to provide up to $30 billion to combat global food shortages aggravated by Russia's invasion of Ukraine and has so far disbursed almost $10 billion in financial aid pledged to Kyiv, a senior bank official said on Thursday.

Reuters

Factbox-Just how bad is Lebanon's economic crisis?

Savers held up two banks in Lebanon on Wednesday to demand access to their own deposits frozen in the country's paralysed financial system, underlining desperation among citizens unable to access savings since an economic crisis began in 2019.

Reuters

Lebanon: Central Bank lifts all expensive fuel subsidies

The Lebanese Central Bank has lifted its remaining subsidies on fuel

The Independent UK

World Bank: Truce Agreement, Transfer of Power are 'Glimmers of Hope' for Yemen

The World Bank commended the recent developments in Yemen, describing them as "glimmers of hope" provided by the UN-sponsored truce agreement, the transfer of power, and the $3.3 billion Saudi and Emirati financing package. However, the World Bank said in a recent study that despite these encouraging developments, achieving a…

Asharq Al-Awsat

Report: Ukraine Reconstruction to Cost $349 Bn

Rebuilding Ukraine following the devastation caused by the Russian invasion will cost an estimated $349 billion, according to a report issued Friday. But the figure, which totals 1.5 times the size of the Ukrainian economy, is considered a minimum and is expected to grow in the coming months as the…

Asharq Al-Awsat

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The Hindu

Externally Aided Projects should be completed on time, says Jagan

CM directs officials to link tanks with lakes

Reuters

Rebuilding Ukraine after Russian invasion may cost $350 billion, experts say

Russia's invasion caused over $97 billion in direct damages to Ukraine through June 1, but it could cost nearly $350 billion to rebuild the country, a report released Friday by the World Bank, Ukrainian government and European Commission shows.

The Conversation

WTO head Ngozi Okonjo-Iweala: how trade can help beat inequality

In a recent study South Africa was identified as ranking first of 164 countries in the World Bank’s global poverty database. Underlying this inequality is its very high rates of unemployment. Professor Dori Posel spoke to World Trade Organisation (WTO) Director General Dr Ngozi Okonjo-Iweala about why trade is important…

Al Jazeera

Drought and hunger in Somalia, Ethiopia and region: What to know

Millions of people are facing food shortages due to the worst drought in 40 years and rising global food costs.

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Bangkok Post

Free school lunch programmes boosts learning

The world's governments are gearing up for their own big education moment. At the United Nations Transforming Education Summit during Sept 16-19, they have a chance to tackle a global learning crisis that has been amplified by the Covid-19 pandemic and rising levels of child poverty and malnutrition.

360info

Special Report: Literacy beyond the classroom

Literacy begins before school and extends throughout a lifetime. 360info considers ways to support access to literacy outside traditional settings.

Bangkok Post

Some Economists Rethink When, if Ever, China Will Pass U.S. in GDP

The sharp slowdown in China's growth in the past year is prompting many experts to reconsider when China will surpass the U.S. as the world's largest economy -- or even if it ever will.

Asharq Al-Awsat

'Rampant Chaos': Lebanon State Sector Eroded by Grinding Crisis

Even as he battles Lebanon's summer heat without air-conditioning, judge Faysal Makki tries not to drink too much water because the toilets at the Justice Palace are broken. His printer still works, but if he wants to use it he needs to bring his own paper and ink cartridges because…

WEKU

IMF set to provide $2.9 billion to help crisis-hit Sri Lanka

The International Monetary Fund will provide Sri Lanka $2.9 billion over four years to help salvage the country from its worst economic crisis under a preliminary agreement the agency announced

The Conversation

Indonesia's energy subsidy dilemma: how can the government better protect the poor?

The Indonesian government’s policy of providing subsidies to shield the public from the effects of global energy price hikes will burden the state budget. It’s also potentially insufficient to protect the poor.

The Independent UK

South Korea objects to World Bank's order to pay Lone Star

South Korea says it plans to challenge a World Bank tribunal’s order to pay $216.5 million plus interest to Texas-based Lone Star Funds following a decade-long dispute over the private equity firm’s sale of the Korea Exchange Bank

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