News for '-national-development-bank'

Wolfowitz chosen as new World Bank president

Why Mumbai lost out to Shanghai as HQ of BRICS bank

Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.

Euro zone clinches deal with Greece after all-night haggle

Tough conditions imposed by global lenders could cause an outcry.