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The Latest Breaking News from World Bank

Lebanon Says ‘Final’ Gas Deal with Egypt to Be Signed June 21

Lebanon will sign a "final" agreement to import gas from Egypt on June 21, its energy ministry told Reuters, after months of delays to a plan viewed as critical to boosting power supplies for Lebanon's stricken economy. The plan, first floated in summer 2021, is part of a US-backed effort…

Asharq Al-Awsat

Tourism sector needs innovation

Thailand relies on the tourism sector, especially international tourism -- the industry is one of top three revenue generating for the country.

Bangkok Post

Lenders pledge $26.1 billion to Ivory Coast 2021-25 plan

Multilateral and bilateral lenders on Wednesday made a series of pledges to support Ivory Coast's 2021-25 Development Plan totalling $26.1 billion, Prime Minister Patrick Achi said.

Reuters

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4 ETFs to Bet on Another Market Crash

Recession fears have been rising with inflation running at a 40-year high and the Fed’s potential monetary policy tightening. The World Bank has recently warned of a recession and slashed its global growth forecast, adding to investors’ worries. Therefore, ETFs that perform well in a bear market, Direxion Daily S&P…

StockNews.com

Nigeria: Inflation reaches 11-month high of 17 percent

The continuing war in Ukraine is partly responsible for upward price pressures in Nigeria.

Al Jazeera

Looming debt crunch positions Laos as next possible Asia default

Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri Lanka to default and threatens Pakistan’s balance of payments.

Bangkok Post

4 Beaten Down Silver Miners to Buy as the Economic Outlook Sours

The World Bank and the OECD nations have slashed their global growth forecasts for this year due to the ongoing war in Europe, supply-chain issues, and inflation. Amid this, the demand for silver is poised to explode. Hence, we think the beaten-down silver mining stocks Wheaton Precious Metals (WPM), Endeavour…

StockNews.com

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World Bank approves $474 million loan to S.Africa for COVID vaccines

The World Bank has approved a loan of 454.4 million euros ($474.4 million) to help South Africa fund COVID-19 vaccine purchases, the bank and South Africa's National Treasury said in a statement.

Reuters

5 Sturdy Stocks to Buy as the World Bank Warns of Stagflation

U.S. inflation running hotter-than-expected has led the benchmark indices to end the last week in the red. On top of it, the World Bank has warned of stagflation and slashed its global growth forecast. Amid this volatile situation, fundamentally solid stocks in the consumer defensive sector Kellogg (K), Kroger (KR),…

StockNews.com

‘We exist but it is not a life’: Afghan women face bleak prospects under Taliban

In Kabul, women talk about losing their jobs and being forced to wear a burqa, while others fear starvation

The Guardian - UK

An enduring agreement bridging India-Pakistan ties

Despite differences, the Indus Waters Treaty is one of most effective examples of water management in the world

The Hindu

Lebanese caretaker energy minister says 'politics' behind delay of U.S.-backed electricity plan

Lebanon's caretaker energy minister said on Wednesday "politics" was behind the delay of a U.S.-backed deal to supply his country with electricity from Jordan via Syrian territory to ease crippling power shortages.

Reuters

Lebanese Caretaker Energy Minister Says ‘Politics’ behind Delay of US-Backed Electricity Plan

Lebanon's caretaker energy minister said on Wednesday "politics" was behind the delay of a US-backed deal to supply his country with electricity from Jordan via Syrian territory to ease crippling power shortages. Walid Fayyad told Reuters that the World Bank, which had pledged to finance the project, was "tying it…

Asharq Al-Awsat

Daily Dose Ep 1067: RBI hikes repo rate, SC slams counselling committee over NEET

Tanishka Sodhi brings you the news from the Reserve Bank of India, Maharashtra, the Supreme Court, and the World Bank.

Newslaundry

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France 24

EU agrees rules for single phone charger in blow to Apple

The EU has agreed on the text of a law to force smartphone makers to equip their devices with a single, common charging port known as USB Type-C. The deal with member states and lawmakers comes as a setback to Apple, which had argued that imposing a universal cable could…

Bangkok Post

Why more European firms are choosing Vietnam over China

A combination of geopolitical tensions and higher costs are pushing large firms to look for alternative production sites. Vietnam's strong economic performance in recent years has drawn the attention of European firms.

Bangkok Post

Russia hammers eastern Ukraine city as world seeks to lift grain siege

KYIV, Ukraine: Kyiv's forces may have to retreat from the eastern city of Severodonetsk, a senior Ukrainian official conceded on Wednesday, as diplomatic efforts intensified to unblock grain stuck in Ukraine's ports.

Asharq Al-Awsat

World Bank Projects Slow Growth, Warns of ‘Stagflation’ Risk

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia's invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now faced recession. The bank forecast a slump in global growth to 2.9% in 2022…

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Reuters

World Bank approves $1.49 billion in support for Ukraine - PM

The World Bank has approved $1.49 billion in financial support for Ukraine to help pay wages for social workers and civil servants, Ukrainian Prime Minister Denys Shmygal said on Wednesday.

Benzinga

Why Alibaba, Nio, Chinese Peers Are Surging in Hong Kong Today

Shares of U.S.-listed Chinese companies were trading higher in Hong Kong on Wednesday morning, led by positive global cues.

The Hindu

Morning Digest | Al-Qaeda in Indian subcontinent threatens to attack India after Prophet controversy; World Bank cuts India’s economic growth forecast to 7.5% for FY23, and more

A select list of stories to read before you start your day

ABC News

World Bank warns recession 'hard to avoid' and Ukraine war creating a 'perfect storm'

The World Bank is warning the war in Ukraine is combining with other risk factors to create a "perfect storm" and recession will be "hard to avoid".

ABC News

Janet Yellen says US inflation at 'unacceptable levels', ASX rises but banks make big losses on rate hikes

The US Treasury secretary says North America is facing unacceptable levels of inflation. Meanwhile, the ASX regains some ground lost in yesterday's super-sized interest-rate-rise-fuelled rout, but the banks see their worst day in a year. Australian dollar rises on the RBA's super-sized interest rate increase.

Reuters

World Bank board approves $1.49 billion in new funds for Ukraine

The World Bank said on Tuesday its board of executive directors approved $1.49 billion of additional financing for Ukraine to help pay wages for government and social workers, expanding the bank's total pledged support for Kyiv to over $4 billion.

WEKU

Russia-Ukraine war: What happened today (June 7)

A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.

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