WCP Mauritius Holding, an investment vehicle promoted by former World Bank president James Wolfensohn, has bought a minority stake in India's ethnic wear company Fabindia for about $11 million, a Financial Times report said.
The annual conference of the World Bank and International Monetary Fund where India was represented by Finance Minister P Chidambaram
World Bank President James Wolfensohn has said that outsourcing was a natural consequence of the free market and suggested safety nets be put in place to protect those who lose their jobs.
Paul D Wolfowitz took charge as the World Bank's 10th President on Wednesday.
Global economic recovery led by rebound in the United States has improved the growth prospects in developing countries like India, World Bank President James Wolfensohn said on Friday.
The proportion of people living on less than $1 a day decreased from 40 to 21 per cent of the global population between 1981 and 2001, says the World Bank's latest annual report.
The outcome of the Doha trade round is more important to poor countries' economies than the US-led war with Iraq, World Bank President James Wolfensohn said on Monday.
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