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World Bank Unveils $12 Billion Aid Package To Combat Coronavirus

Wednesday, March 4, 2020, 10:38 AM

World Bank Unveils $12 Billion Aid Package To Combat Coronavirus

The World Bank unveiled a $12-billion aid package that will provide fast-track funds to help countries combat the coronavirus outbreak. "The goal is to provide fast, effective action that responds to country needs," World-Bank President David Malpass told reporters. He said it is critical to "recognize the extra burden on poor-countries" least equipped in the struggle to prevent the spread of the COVID-19 virus.

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India 'developed economy', US justifies GSP removal

Wednesday, February 12, 2020, 12:47 PM

India 'developed economy', US justifies GSP removal

The US has classified India as a 'developed economy' to justify the country's removal from its GSP scheme. The scheme gives developing economies tariff-free access to the US, Business Standard reported. The United States Trade Representatives' (USTR's) office suspended India's GSP benefits in June 2019. It calculates a country's level of economic development based on its GNI and its share in global trade.

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World Bank calls for global effort against virus

Tuesday, February 4, 2020, 12:17 PM

World Bank calls for global effort against virus

The World Bank has called for countries to step up programmes to fight the new coronavirus outbreak and said it was considering mobilizing its own resources against the disease. "We are calling on all countries to strengthen their health surveillance and response systems, which is essential to contain the spread of this and any future outbreaks," the institution said in a statement.

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World Bank lowers Pakistan's growth rate at 2.4 percent

Friday, January 10, 2020, 8:12 AM

World Bank lowers Pakistan's growth rate at 2.4 percent

The World Bank has lowered Pakistan's growth rate projections for the current fiscal year and next two years owing to continuation of tight monetary policy and fiscal consolidation coupled with external factors. "Pakistan's growth is expected to rise to 3 per cent in the next fiscal year after bottoming out at 2.4 per cent in FY2019-20, which ends June 30," the World Bank said/

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Lower Consumption, Less Credit Led To Decline Of Growth To 5%: World Bank

Thursday, January 9, 2020, 8:57 PM

Lower Consumption, Less Credit Led To Decline Of Growth To 5%: World Bank

The World Bank has projected a five per cent growth rate for India in the 2019-2020 fiscal, but said it was likely to recover to 5.8 per cent in the following financial year. The US' growth is forecast to slow to 1.8 per cent this year, reflecting the negative impact of earlier tariff increases and elevated uncertainty.

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Gold little changed as fears of larger US-Iran conflict ease

Thursday, January 9, 2020, 8:17 AM

Gold little changed as fears of larger US-Iran conflict ease

Gold prices were steady on Thursday, retreating from the near seven-year peak hit in the previous session, as a softening rhetoric by the US and Iran allayed concerns of a larger military conflict. Spot gold was unchanged at $1,555.51 per ounce by 0031 GMT. Prices hit their highest since March 2013 at $1,610.90 on Wednesday. US gold futures fell 0.3 per cent to $1,555.90.

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World Bank pegs India's growth for FY20 at 5%

Thursday, January 9, 2020, 8:09 AM

World Bank pegs India's growth for FY20 at 5%

The World Bank on Wednesday cut India's growth for financial year 2020 to 5% from 6% estimated earlier, a day after the country's statistics office pegged growth in the current financial year at 5%, the lowest in 11 years. The multilateral lender expects the country's growth to recover only slightly to 5.8% in the next fiscal year.

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Next Ease of Biz ranking of states likely in March

Wednesday, January 8, 2020, 10:58 AM

Next Ease of Biz ranking of states likely in March

The Commerce and Industry Ministry is likely to release the next index to rank states and union territories(UTs) in terms of ease of doing business in March, a senior official said. "It will be released in February end or March," the official said. The exercise is aimed at triggering competition among states to improve business climate in order to attract domestic and global investors.

News

 
Massive Debt Wave Could Crash On Developing Countries, World Bank Warns

Saturday, December 21, 2019, 8:09 AM

Massive Debt Wave Could Crash On Developing Countries, World Bank Warns

A wave of debt in emerging and developing nations has grown-faster and larger than in any period of the last-five-decades and could end with another crisis, World-Bank warned. And if the wave breaks, it could be more damaging since it would engulf private-companies in addition to governments, at a time when economic-growth is sluggish, according to a-new-report that covers four debt surges from 1970-2018.

News

 
Kerala to showcase over 100 projects in the global investor meet

Monday, December 16, 2019, 8:29 PM

Kerala to showcase over 100 projects in the global investor meet

In an effort to boost industrial investments, Kerala-government has readied more than 100-projects that will be showcased to potential investors at the upcoming ASCEND-2020 global-investors meet slated to be held in Kochi on January-9 and 10. The event organised by the department of industries will present before the investors the big-ticket-projects a minimum of 60-projects from industries department and 40 from other government departments/agencies.

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