World Bank

World Bank approves $170 million for Philippine rural development project

(Eagle News) — The World Bank has approved $170 million of additional financing aimed at “boost(ing) rural incomes and reduc(ing) poverty” in the country. In a statement on Friday, the WB said the additional funds would be used for the Philippine Rural Development Project that will also “support the development of rural infrastructure such as roads, bridges, communal irrigation systems, potable water supply, solar dryers, greenhouses, and composting facilities.” The PRDP is a joint project of the Department of Agriculture and…

Read More

Political Uncertainty, Rising Budget Deficit to Cut Zimbabwe’s Economic Growth to 0.9%

WASHINGTON —  The World Bank says political uncertainty and the rising budget deficit will cut Zimbabwe’s economic growth to 0.9 percent this year. That is down from an estimated 2.8 percent growth rate for Gross Domestic Product (GDP) last year. In its latest Global Economic Forecast, the multilateral lender forecasts world GDP growth will average 3.1 percent this year, up from an estimated 3 percent last year. Much of the gain will be from emerging and developing economies, as commodity…

Read More

Growth in East Asia and Pacific countries may fall to 6.2% in 2018: World Bank

The World Bank believes that this reflects a gradual slowdown in China. Regional growth for East Asia and Pacific countries is forecasted to slip to 6.2% in 2018 from an estimated 6.4% the previous year as China faces a gradual slowdown offsetting a pickup in economic activity in the rest of the region, according to a report from the World Bank.  As Asia’s largest economy, the World Bank believes that China’s economy which is expected to decelerate to 6.4% this…

Read More

India to regain fastest growing economy tag in FY19

NEW DELHI: The Indian economy is projected to grow 7.3 per cent in 2018-19 and 7.5 per cent in the medium term on the back of revival of private investment as businesses adjust to the Goods & Services Tax (GST), the World Bank has said, regaining the fastest-growing major economy tag from China. In 2017-18, the economy is forecast to grow 6.7 per cent due to short-term disruptions from the newly introduced GST. The country’s Central Statistics Office (CSO) estimates…

Read More

Economic growth to pick up pace in Pakistan, says World Bank report – Pakistan

ISLAMABAD: The World Bank says that economic growth in Pakistan is forecast to increase to 5.5 per cent in the fiscal year 2017-18, and reach an average of 5.9 per cent over the medium term on the back of continued robust domestic consumption, rising investment and a recovery in exports. However, the main risks to the outlook are domestic, including fiscal slippages, increasing liabilities related to infrastructure projects, slippages relating to upcoming general elections and weak tax revenues that can…

Read More

World Bank relatively optimistic about Colombia’s economic growth

The World Bank said Tuesday it expects Colombia’s economy in 2018 to grow 2.9%, more than the government and business association ANDI predicted. The World Bank’s growth estimate for Colombia is also considerably higher than the region’s estimated GDP growth for the coming year. Growth in Colombia is expected to pick up through the forecast period as moderating inflation supports private consumption, export growth recovers on rising oil prices. World Bank Average growth for Latin America and the Caribbean is estimated to be…

Read More

demonetisation: World Bank expects India to grow fastest in FY19

NEW DELHI: India is set to regain its status as the world’s fastest growing economy in FY19, the World Bank said, seeing it as an economy with “enormous growth potential” because of ambitious reforms by the government. India’s growth is forecast to recover to 7.3% in FY19 and 7.5% in the next two fiscals each, according to the World Bank forecast released on Wednesday that saw a recovery in global growth to 3.1% in 2018 from 3% in 2017. “India…

Read More

Adi Godrej welcomes World Bank’s 7.3% growth projection, says transformative reforms will drive economy

Adi Godrej, Chairman of the Godrej Group, on Wednesday welcomed World Bank’s 7.3% growth projection. (Image: Reuters) Adi Godrej, Chairman of the Godrej Group, on Wednesday welcomed World Bank’s 7.3% growth projection, saying that the right policy environment aided by transformative reforms will drive the economic growth. The World Bank is estimating India’s economy to grow by 6.7% during the current fiscal year, higher than the 6.5% estimate by the Indian government. The Gross Domestic Product (GDP) growth is expected to rise to…

Read More

World Bank forecasts growth in Central Asia to slow except in Kyrgyzstan

BISHKEK (TCA) — Economic growth in Europe and Central Asia is anticipated to ease to 2.9 percent in 2018 from an estimated 3.7 percent in 2017, the World Bank says in its January 2018 Global Economic Prospects. Growth in the region strengthened more than expected to 3.7 percent in 2017 from 1.7 percent the previous year. The region’s two largest economies, Russia and Turkey, accounted for most of the region’s expansion. Russia expanded by 1.7 percent after two years of…

Read More

World Bank says India has huge potential, projects 7.3 per cent growth in 2018- The New Indian Express

WASHINGTON: With an “ambitious government undertaking comprehensive reforms”, India has “enormous growth potential” compared to other emerging economies, the World Bank said today, as it projected country’s growth rate to 7.3 per cent in 2018 and 7.5 for the next two years. India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank here today. “In…

Read More

World Bank Upgrades Global Economic Growth Outlook for 2018 to 3.1%

The World Bank raised its growth outlook for the global economy this year to three-point-one percent from two-point-nine percent. The bank attributed the upgrade to a recovery in investment in the U.S. and other advanced countries and increasing exports of raw materials from countries such as Brazil and Russia.  The previous estimate was released in June.  According to the World Bank’s Global Economic Prospects report on Tuesday, the bank maintained its growth outlook for emerging countries at four-point-five percent this…

Read More

Monitor Thought Leaders Forum set for March 15

Kampala- The Monitor Thoughts Leaders Forum, 2018 will be held on March 15 with Mr Michael Joseph, the Board chairman of Kenya Airways, lined up as the keynote speaker, it has been revealed.According to a press statement issued yesterday by Ms Sarah Nalule, the head of marketing at Monitor Publications Limited (MPL), the forum organised by Daily Monitor, a brand of MPL, will be held at the Pearl of Africa Hotel in Kampala starting at 7am.The Monitor Thoughts Leaders Forum…

Read More

LG showcases robots that could replace workers in hotels, airports and supermarkets

The three new concept robots from LG Electronics are aimed at the services industry, in areas like hotels, airports and supermarkets.  (LG Electronics) Here come our new robot overlords. A Korean tech giant has announced three new robots that take aim at the vast and fast-growing global service industry sector. Technologists and economists have long predicted that artificial intelligence and automation would one day sync up to eliminate millions of mostly low-wage jobs in the future. South Korea’s LG Electronics is…

Read More

Vietnam breaks export growth record in 2017

From textile and garment to mobile phones, Vietnam’s 2017 export-import picture was bright with a record $425 billion. Breaking the record Despite facing many challenges in the first two quarters of this year, with orders from importers falling sharply and the US—Vietnam’s biggest export market for textile and garment—withdrawing from the Trans Pacific Partnership (TPP), Vietnam earned $31 billion from textile and garment exports in 2017, a year-on-year increase of 10.2 per cent, and posting a trade surplus of $15.5…

Read More

South Korea News.Net – Is China military eyeing bases in Pakistan

Hong Kong [China], Jan. 09 (ANI): Recently reports have surfaced that China is building a second overseas naval base, one in Pakistan. However, it is important to distinguish fact from knee-jerk speculation, especially when so far there is a paucity of hard evidence to suggest this is true. To answer the question in the headline, it is only natural for the People’s Liberation Army (PLA) to make plans to establish overseas facilities to support its assets, because that is what…

Read More

A look at various kinds of corruption: Part 2 | Greg Lopez | Opinion

JANUARY 9 — The first article identified 18 different terms (from World Bank publications) that are confused or used interchangeably with corruption.  In the first instance, let us explore how corruption is linked to these other terms. It may help explain why the terms are often confused or used interchangeably.  The Integrity Vice Presidency (INT) is an independent unit within the World Bank Group that investigates and pursues sanctions related to allegations of fraud and corruption in World Bank Group-financed projects.  The INT’s scope…

Read More
About

Business on the Web provides the latest Business News: Breaking Personal Finance, Company,  Financial and Economic News.

Our blogs are an excellent place for technology professionals to get up-to-date industry news. Blogging about the hottest education technology issues.

Social Links