The World Bank has announced that it will stop all its programmes in Russia and Belarus with "immediate effect" in response to Moscow's military operations in Ukraine and "hostilities" against the people of the war-torn country. On February 24, Russian forces launched military operations in Ukraine, three days after Moscow recognised Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities. The decision comes as a large number of countries, organisations and businesses are severing ties and have imposed sanctions on Russia over the country's invasion of Ukraine, and with Belarus for its support and cooperation with Moscow.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
'First, develop the ability to sell -- to persuade, negotiate and close. Second, understand the financial mechanics that determine where value pools and how profits are captured,' says Shaadi.com founder Anupam Mittal.
Pakistan has urged India to fully adhere to the Indus Water Treaty (IWT), expressing concerns about the level of detail in flood information shared through diplomatic channels.
In May, 40 Rohingyas were blindfolded and flown to the Andaman and Nicobar islands and then thrown into the sea and made to swim to an island in Myanmar. And after the Pahalgam attack, at least 300 Muslims were 'pushed back' to Bangladesh from Assam.
Dr Kali P Choudhury, a visionary entrepreneur immigrated to the United States with almost nothing and built his estate in Hemet before turning his focus to Inglewood.
The World Bank has blacklisted Videocon Industries on allegations of fraud and corruption for three years.
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
As India prepare for a high-stakes ODI series, all eyes naturally turn to Rohit and Kohli as this series marks their return since the title-winning ICC Champions Trophy Final earlier this year.
New Delhi might have loudly welcomed an age of multipolarity, hedging and strategic autonomy. But it seems the winner in that game is Islamabad, not us, points out Mihir S Sharma.
'The pace of gold's ascent is striking, with prices rising from $3,500/oz to $4,000/oz in just 36 days -- far quicker than the historical average of 1,036 days taken to achieve similar $500/oz gains.'
World Bank on Friday offered to help India to improve its public procurement system and said even a marginal improvement in efficiency can yield huge savings.
"It is important that development agencies be able to continue their work unhindered by fear or violence, the bank said.
'When global politics has some intervention on the core software one uses, and if you are cut off from your own data in critical workflows, sovereignty is no longer optional. It becomes a necessity.'
The BRICS Development Bank could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said on Wednesday.
Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
England racked up an eighth successive victory against Wales with a 3-0 cruise in an international friendly at Wembley on Thursday.
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
World Bank president Paul Wolfowitz on Friday met Finance Minister P Chidambaram and discussed the progress of Bank funded projects in India and country's future loan requirements.
Former US President Donald Trump claims Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir support his plan to end the Gaza conflict, citing their involvement in negotiations and a recent statement of full support.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
World Bank President James D Wolfensohn on Friday called on Prime Minister Manmohan Singh at his residence as he wrapped up his 3-day visit to India.
Prime Minister Narendra Modi inaugurates the Navi Mumbai International Airport and a portion of the Mumbai Metro Line, marking significant improvements to transportation infrastructure in Mumbai.
Indian information-technology (IT) service providers are likely to report another quarter (July-September) of low, single-digit growth owing to macro uncertainties, chiefly emanating from America, with no respite in sight even in the second half of the year.
As a protege of Shinzo Abe, Takaichi is expected to scale bilateral ties much higher. Trade and investment shall grow. People-to-people contacts shall be scaled up, points out Dr Rajaram Panda.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
Satyam Computer Services on Wednesday announced the winning of a new long-term contract from its existing customer, the World Bank whereby it has been chosen as the World Bank's primary offshore IT services partner.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
It is high time India ends its silence on the human cost of the Gaza war and takes a principled stand without diluting its relations with Israel. A largely friendless Tel Aviv today needs New Delhi more than the other way around. India's failure now may cost it diplomatically in the long run, cautions M R Narayan Swamy.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
Congress leader Sonia Gandhi criticizes the Modi government's stance on Palestine, calling it a 'profound silence' and an abdication of humanity and morality. She argues that India needs to demonstrate leadership on the issue and that the government's actions are driven by personal friendship rather than constitutional values or strategic interests.
His remarks came in response to several European nations announcing their decision to recognise a Palestinian state during a summit at the UNGA on Monday. While the move was largely symbolic, it added to Israel's diplomatic isolation. Washington, however, has made clear it does not support the step.
The World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for the Maldives and $128.6 million for Sri Lanka.
Entities controlled by governments - sovereign wealth funds, and pension funds - have recorded higher growth in equity assets under custody compared to other foreign portfolio investors (FPIs) over the past five years.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
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