In a statement on Wednesday, World Bank said that its President Robert B Zoellick has announced that he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.
A report prepared by World Bank in coordination with Chinese experts said China has reached a 'turning point' in development but it could still emerge as the world's largest economy before 2030 if it carried structural reforms.
Sources close to Mohamed Mushin say he regrets the indiscretion of purchasing the shares that he did, and even though it was perfectly legal, it gave the perception of conflict of interest, that his buying them under the Friends and Family IPOs seemed as it was a quid pro quo by the two companies that had secured handsome Bank contracts.
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.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
The Congress shared a video clip from a recent podcast Mallya did with social media influencer Raj Shamani in which he claimed he had informed Jaitley before leaving India in 2016.
Global warming can cause extreme floods and droughts and can mean snowfall is replaced by rain, with higher evaporation rates.
From the Sensex firms, Mahindra & Mahindra, HCL Tech, Tata Motors, Nestle, ITC, Hindustan Unilever, Larsen & Toubro, and Tech Mahindra were the biggest gainers. In contrast, Eternal, UltraTech Cement, Power Grid, Tata Steel and Kotak Mahindra Bank were among the laggards. Eternal dropped 4.51 per cent.
The executive directors of the World Bank unanimously selected Robert B Zoellick to succeed Paul Wolfowitz, effective July 1, 2007, as the 11th President of the Bank for a five-year term.
OYO founder Ritesh Agarwal has invited name suggestions for its parent firm Oravel Stays, in a strategic move as the global travel tech platform prepares to launch its IPO and looks to have more premium segment offerings. There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that OYO has been working to launch in the near future, people familiar with the strategy told PTI.
The World Bank now projects Gross Domestic Product growth of 11.3 per cent in 2007, but below 11 per cent in 2008, the World Bank's China Quarterly Update said.
In the face of burgeoning forex reserves at over $93 billion, the government has quietly prepaid $1.4 billion worth of costly foreign loans to World Bank and Asian Development Bank.
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
World Bank on Monday said its lending in India is estimated to increase from its current annual average of $2.5 billion to an average of $4 billion over the next two-three years.
Given the strong interest among rich Indians to settle abroad, the Dubai-based company has opened a full-fledged office in New Delhi and plans to follow it up soon with an office in Mumbai and then a few in central and southern parts of the country.
With the rise of wellness tourism and experiential travel, specialised jobs are being created in spa management, event planning and local experience curation, besides social media management.
India has emerged as the 12th wealthiest nation in the world with its GDP touching $785.47 billion or Rs 35,34,615 crore in 2005, the World Bank said.
In all, worldwide remittances -- including those to high-income countries -- will reach $406 billion in the current calendar year.
The youth today want to go where they feel happy, learn something, feel challenged, rewarded and intellectually stimulated. And then, they meet 'the manager', a relic of the first industrial revolution. A fascinating excerpt from Aseem Dhru's book, Mondays @ 7.
China remained a developing country facing many challenges, including alleviating poverty in rural areas, despite emerging as a second largest economy of the world, World Bank President Robert B Zoellick has said.
Starting a business in India has become much easier in the last two years.
The rankings are based on 10 indicators of business regulation that track the time and cost to meet government requirements in business start-up,operation, trade, taxation, and closure.
United States nominee Jim Yong Kim was on Monday chosen as the next president of the World Bank, an appointment that continues the longstanding tradition of an American leading the Washington-based institution.
In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.
The World Bank on Thursday projected Indian economy to grow at 8.7 per cent this year but estimated that the high growth would moderate in 2008 due to tighter financial and fiscal conditions.
This arrangement, while facilitating a $4.3 billion increase in support to India, is designed to maintain IBRD's net exposure within the limit of US$ 17.5 billion established by the IBRD for lending to a large, highly creditworthy borrower like India.
Ranks 132 among 185 countries; position for 2013 unchanged from 2012.
India can return to 9 per cent growth if the government removes uncertainties in policy-making and go for early implementation of some of the long pending tax reforms, a senior World Bank official said on Wednesday.
The World Bank has approved the Second Andhra Pradesh Economic Reform Loan worth $220 million, to back the state's efforts to achieve better socio-economic outcome and reduce poverty.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
India attracted a major chunk of the record $40.1 billion capital that flowed into South Asia in 2006, but restrictive policies could stunt investment growth leading to slower economic expansion, the World Bank warned in a report.
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
'There is no tried and true recipe for creating Silicon Valleys.' 'Attracting and creating a mass of truly dynamic entrepreneurs is at the core and among the hardest and most necessary ingredients.' 'In the US, close to 60% of the top valued tech companies were started by immigrants who found the start-up climate to be superior to where they came from.' 'India would clearly benefit from attracting back its talented Diaspora, but it also needs to hold onto those entrepreneurs.'
World Bank is expected to extend $2.5 billion loans to India this fiscal, which is lower than the targeted $3 billion annually during 2004-07.
Elaborating on the reasons behind the expected slowdown in the country's economic growth, the multilateral lending agency said it 'stems from a moderation in domestic demand, as elevated inflationary pressures have cut into disposable incomes and household spending'.
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