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The Latest Breaking News from World Bank

Helping Afghanistan after earthquake will be hard: 3 questions answered

Afghanistan’s deadliest earthquake in more than two decades took place on June 22, 2022, killing more than 1,000 people and injuring at least 1,600. The disaster struck a remote mountainous region and came at a time when millions of Afghans are experiencing severe poverty and hunger. Since the Taliban, which…

The Conversation

Firms from rich countries are taking factories home: what this means for Africa

There is no doubt that globalisation has benefited Africa greatly. This includes job creation, innovation, increased productivity and foreign direct investment.

The Conversation

Myanmar's crises: A recipe for disaster

'The military exploits [natural resources] as they like, and we do what we like," says Myint, who lives in Khamti township in north-western Sagaing region -- one of the sites with the most clashes between the Myanmar military and resistance forces. "Everyone knows that one day there'll be no more…

Bangkok Post

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Triple punch of shocks threatens to upend debt sustainability and recovery in Africa

Food and fuel price increases and the aftermath of the COVID pandemic are really just the start of the story when it comes to fiscal shocks which have exacerbated government debt vulnerabilities in Africa.

The Conversation

After decades of loss, the world's largest mangrove forests are set for a comeback

Mangroves ring the shores of many of Indonesia’s more than 17,000 islands. But in the most populated areas, the world’s largest mangrove forests have been steadily whittled away, and with them, the ability to store blue carbon.

The Conversation

Lebanon, Syria and Egypt sign deal to supply Beirut with gas

Lebanon, Egypt and Syria have signed an agreement to import Egyptian gas to a power plant in northern Lebanon through Syria

The Independent UK

World Bank Warns of ‘Hidden Hunger’ in Palestine’s West Bank, Gaza Strip

The World Bank has warned of “hidden hunger” resulting from the heightened food insecurity in the West Bank and Gaza Strip. It published a report on Monday expressing concern over the poor nutritional status of the Palestinian population, underlining the high prevalence of micronutrient deficiencies among groups for whom good…

Asharq Al-Awsat

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Lebanon Says ‘Final’ Gas Deal with Egypt to Be Signed June 21

Lebanon will sign a "final" agreement to import gas from Egypt on June 21, its energy ministry told Reuters, after months of delays to a plan viewed as critical to boosting power supplies for Lebanon's stricken economy. The plan, first floated in summer 2021, is part of a US-backed effort…

Asharq Al-Awsat

Tourism sector needs innovation

Thailand relies on the tourism sector, especially international tourism -- the industry is one of top three revenue generating for the country.

Bangkok Post

Lenders pledge $26.1 billion to Ivory Coast 2021-25 plan

Multilateral and bilateral lenders on Wednesday made a series of pledges to support Ivory Coast's 2021-25 Development Plan totalling $26.1 billion, Prime Minister Patrick Achi said.

Reuters

4 ETFs to Bet on Another Market Crash

Recession fears have been rising with inflation running at a 40-year high and the Fed’s potential monetary policy tightening. The World Bank has recently warned of a recession and slashed its global growth forecast, adding to investors’ worries. Therefore, ETFs that perform well in a bear market, Direxion Daily S&P…

StockNews.com

Nigeria: Inflation reaches 11-month high of 17 percent

The continuing war in Ukraine is partly responsible for upward price pressures in Nigeria.

Al Jazeera

Looming debt crunch positions Laos as next possible Asia default

Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri Lanka to default and threatens Pakistan’s balance of payments.

Bangkok Post

4 Beaten Down Silver Miners to Buy as the Economic Outlook Sours

The World Bank and the OECD nations have slashed their global growth forecasts for this year due to the ongoing war in Europe, supply-chain issues, and inflation. Amid this, the demand for silver is poised to explode. Hence, we think the beaten-down silver mining stocks Wheaton Precious Metals (WPM), Endeavour…

StockNews.com

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Reuters

World Bank approves $474 million loan to S.Africa for COVID vaccines

The World Bank has approved a loan of 454.4 million euros ($474.4 million) to help South Africa fund COVID-19 vaccine purchases, the bank and South Africa's National Treasury said in a statement.

StockNews.com

5 Sturdy Stocks to Buy as the World Bank Warns of Stagflation

U.S. inflation running hotter-than-expected has led the benchmark indices to end the last week in the red. On top of it, the World Bank has warned of stagflation and slashed its global growth forecast. Amid this volatile situation, fundamentally solid stocks in the consumer defensive sector Kellogg (K), Kroger (KR),…

The Guardian - UK

‘We exist but it is not a life’: Afghan women face bleak prospects under Taliban

In Kabul, women talk about losing their jobs and being forced to wear a burqa, while others fear starvation

The Times of India

Cryptocurrencies akin to 'a world of Caribbean pirates' in absence of regulation: CEA

NEW DELHI: Chief economic adviser V Anantha Nageswaran on Thursday said cryptocurrencies are akin to 'a world of Caribbean pirates' in the absence of a centralised regulatory authority and are yet to pass the test of a fiat currency.

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The Hindu

An enduring agreement bridging India-Pakistan ties

Despite differences, the Indus Waters Treaty is one of most effective examples of water management in the world

Reuters

Lebanese caretaker energy minister says 'politics' behind delay of U.S.-backed electricity plan

Lebanon's caretaker energy minister said on Wednesday "politics" was behind the delay of a U.S.-backed deal to supply his country with electricity from Jordan via Syrian territory to ease crippling power shortages.

Asharq Al-Awsat

Lebanese Caretaker Energy Minister Says ‘Politics’ behind Delay of US-Backed Electricity Plan

Lebanon's caretaker energy minister said on Wednesday "politics" was behind the delay of a US-backed deal to supply his country with electricity from Jordan via Syrian territory to ease crippling power shortages. Walid Fayyad told Reuters that the World Bank, which had pledged to finance the project, was "tying it…

Newslaundry

Daily Dose Ep 1067: RBI hikes repo rate, SC slams counselling committee over NEET

Tanishka Sodhi brings you the news from the Reserve Bank of India, Maharashtra, the Supreme Court, and the World Bank.

France 24

EU agrees rules for single phone charger in blow to Apple

The EU has agreed on the text of a law to force smartphone makers to equip their devices with a single, common charging port known as USB Type-C. The deal with member states and lawmakers comes as a setback to Apple, which had argued that imposing a universal cable could…

Bangkok Post

Why more European firms are choosing Vietnam over China

A combination of geopolitical tensions and higher costs are pushing large firms to look for alternative production sites. Vietnam's strong economic performance in recent years has drawn the attention of European firms.

Bangkok Post

Russia hammers eastern Ukraine city as world seeks to lift grain siege

KYIV, Ukraine: Kyiv's forces may have to retreat from the eastern city of Severodonetsk, a senior Ukrainian official conceded on Wednesday, as diplomatic efforts intensified to unblock grain stuck in Ukraine's ports.

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