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☆ Asked About Taiwan, Deputy UN Chief Says Exclusion of Anyone Can Harm Global Goals
▼ + stars: | 2023-09-15 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Michelle NicholsUNITED NATIONS (Reuters) - Exclusion of anyone harms efforts to achieve global development goals, United Nations Deputy Secretary-General Amina Mohammed said on Friday when asked about Taiwan's appeal to be included in the campaign. "We said leave noone behind and I think member states have to find a way to make sure that we are not in that position where we're excluding people. The 1971 resolution replaced the then-government of the Republic of China that had been pushed to Taiwan following China's civil war. Taiwan has long called on the United Nations to admit it as a member. "So, keeping Taiwan out of the United Nations is immoral, is unjust and is something that we have to make change to."

Persons: Michelle Nichols UNITED, Amina Mohammed, Mohammed, China's U.N, Zhang Jun, Zhang, U.N, Farhan Haq, Joseph Fu, Michelle Nichols, Michael Martina, Grant McCool Organizations: Michelle Nichols UNITED NATIONS, Reuters, United Nations, General, Sustainable, Taiwan, United Locations: Taiwan, People's Republic of China, China, Republic of China, United, United Nations

☆ Asked about Taiwan, deputy UN chief says exclusion of anyone can harm global goals
▼ + stars: | 2023-09-15 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

UNITED NATIONS, Sept 15 (Reuters) - Exclusion of anyone harms efforts to achieve global development goals, United Nations Deputy Secretary-General Amina Mohammed said on Friday when asked about Taiwan's appeal to be included in the campaign. "We said leave noone behind and I think member states have to find a way to make sure that we are not in that position where we're excluding people. The 1971 resolution replaced the then-government of the Republic of China that had been pushed to Taiwan following China's civil war. Taiwan has long called on the United Nations to admit it as a member. "So, keeping Taiwan out of the United Nations is immoral, is unjust and is something that we have to make change to."

Persons: Amina Mohammed, Mohammed, China's U.N, Zhang Jun, Zhang, U.N, Farhan Haq, Joseph Fu, Michelle Nichols, Michael Martina, Grant McCool Organizations: UNITED, United Nations, General, Sustainable, Taiwan, United, Thomson Locations: Taiwan, People's Republic of China, China, Republic of China, United, United Nations

☆ China think tank says India is 'sabotaging' G20 for its own agenda
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +3 min

A man walks past a model of the G20 logo outside a metro station ahead of the G20 Summit in New Delhi, India, September 4, 2023. The think tank accused India of bringing geopolitical "private goods" onto the global stage, which it said would not only help the country to fulfill its responsibility as the host of G20 but also create further problems. India held two earlier G20 meetings in disputed territories -- one in Arunachal Pradesh that China also claims, and another in Kashmir, contested by Pakistan. the think tank said in a commentary published on its Wechat account. Last Sunday, reacting to news that Xi would not attend the G20 summit, U.S. President Biden said he was "disappointed" but would "get to see him".

Persons: Anushree, Xi Jinping, Narendra Modi, Li Qiang, Xi, Biden, Kevin Yao, Kim Coghill Organizations: REUTERS, Rights, China Institute of Contemporary International Relations, Ministry of State Security, Pakistan, Thomson Locations: New Delhi, India, Rights BEIJING, India's, Arunachal Pradesh, China, Kashmir, U.S, United States, Beijing, Heilongjiang

☆ Analysis: China's Xi Jinping skipping G20 may be part of his plan to reshape global governance
▼ + stars: | 2023-09-08 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Since its first leaders’ summit in 2008, China’s top leader has always attended the gathering – including by video link during the Covid pandemic. Now, “China sees the G20 space as increasingly oriented toward the US and its agenda, which Xi Jinping regards as hostile to China,” Werner said. Alternative governance structureXi last attended the G20 summit in Bali, Indonesia, in November last year, when he emerged from China’s Covid isolation and declared his return to the world stage. All the while, Xi has only made two trips abroad this year – and both are central to his attempt to reshape the global world order. Next month, the Chinese leader is expected to host the Belt and Road Forum to mark the 10th anniversary of his global infrastructure and trade initiative – a key element in Beijing’s new global governance structure.

Persons: Jinping, Premier Li Qiang, Beijing’s reticence, Xi, ”, George Magnus, I’m, I’ve, Jake Werner, ” Werner, Biden, Werner, Happymon Jacob, China’s, Shi Yinhong, Joe Biden –, Antony Blinken, Vladimir Putin –, Magnus, they’re, ” Magnus, –, “ It’s Organizations: Hong Kong CNN, Premier, China Center, Oxford University, “, Quincy Institute in, Quincy Institute in Washington DC, Pacific NATO, ”, India, New, Jawaharlal Nehru University, Divisions, Renmin University, EU, Beijing, Global Security Initiative, Global Development Initiative, Civilization Initiative, Forum, Shanghai Cooperation Organization – Locations: Hong Kong, New Delhi, China, Xi’s, India, United States, Quincy Institute in Washington, Beijing, New, Washington, Pacific, Ukraine, Moscow, Bali , Indonesia, Germany, France, Brazil, Indonesia, Johannesburg, South Africa, BRICS

☆ US Treasury official pushes IMF quota increase to bolster lending resources
▼ + stars: | 2023-09-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. "We are making a commitment to reinvest in the IMF," Shambaugh said at a Center for Global Development event. A quota increase would require member countries, particularly its larger, wealthier shareholders, to contribute more funds at a time of slowing growth and tighter fiscal budgets following years of pandemic spending. The comment was partly a swipe at China's rampant lending to developing countries and reluctance to engage on debt restructurings. The IMF is aiming to complete a review of its quota resources -- which form the biggest part of its $1 trillion in total lending firepower -- by Dec. 15, and is seeking "considerable progress" by IMF annual meetings in Morocco in October.

Persons: Yuri Gripas, Jay Shambaugh, Shambaugh, Joe Biden, Janet Yellen, David Lawder, Andrea Ricci, Diane Craft Organizations: Monetary Fund, REUTERS, Rights, U.S, Treasury, Growth Trust, IMF, Global, World Bank, Thomson Locations: Washington , U.S, India, China, U.S, Brazil, Morocco

☆ With BRICS Expansion, American Power Just Took a Big Hit - The New York Times
▼ + stars: | 2023-09-01 | by ( Sarang Shidore | ) www.nytimes.com time to read: +2 min

For more than a decade, the United States mostly ignored BRICS. The grouping, formed by Brazil, Russia, India, China and South Africa, rarely registered on Washington’s radar. Western commentators, for their part, largely painted BRICS as either a sign of Chinese attempts to dominate the global south or little more than a talking shop. At a summit in Johannesburg last week, the group invited six global south states — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates — to join its ranks. There are, for example, some differences between the way China and Russia and the global south states view the grouping.

Persons: Jake Sullivan, ” —, United Arab Emirates — Organizations: United, New Development Bank Locations: United States, Brazil, Russia, India, China, South Africa, Johannesburg, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab Emirates, U.S

☆ Opinion | What Can Replace China as a Global Economic Engine?
▼ + stars: | 2023-08-23 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +4 min

To an extent that few Americans genuinely appreciate, global growth has been powered by the so-called Chinese miracle for almost half a century now. grew by 30 percent and China’s by 263 percent — China accounted for more than 40 percent of all global growth. If you excluded China from the data, global G.D.P. In 1992, China’s G.D.P. Quite likely not somewhere great, even if the world’s great powers manage to avoid direct conflict.

Persons: —, China’s, David Oks, Henry Williams, Ricardo Hausmann, Tim Sahay, Narendra Modi Organizations: World Bank, Harvard Kennedy School Locations: China, Asia, United States, India

☆ Read Your Way Through Appalachia
▼ + stars: | 2023-08-09 | by ( Barbara Kingsolver | ) www.nytimes.com time to read: +2 min

Appalachia is a region and a mind-set. Appalachia has few large cities, our economies are land-based and, unless you live here, we’re probably not what you think. It’s “Appal-achia.” As in, “If you keep that up, I’ll throw this apple atcha.” But in fact, we won’t. We tend toward heart-blessing kindness in the way of small-town folks who rely on each other in good times and bad, and live together regardless. Weighing in at nearly three pounds, “Writing Appalachia: An Anthology,” edited by Katherine Ledford and Theresa Lloyd, is too big to pack but too wonderful to miss.

Persons: we’re, “, King James Bible, ”, Katherine Ledford, Theresa Lloyd, — James Still, Jesse Stuart, Harriette Simpson, Steven Stoll’s, Stoll, otherness Locations: Appalachia, Georgia , Tennessee, North Carolina, Virginia, Kentucky, West Virginia, Pennsylvania, State

☆ Solomon Islands says Chinese police to assist cyber, community security
▼ + stars: | 2023-07-14 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

In a statement on Friday, Sogavare's office said the Pacific Islands nation was broadening its security partnerships, and the Chinese police will add to the existing Australia and New Zealand policing support. Riots in the capital Honiara in 2021 exposed gaps in the islands' policing, it said. Opposition leader Matthew Wale said in a statement "policing is different in democracies than in communist countries and democracies must uphold human rights and due process". The issue was not China's supply of security equipment, but the compatibility of Chinese and Pacific policing, said Meg Keen, director of the Lowy Institute's Pacific Islands programme. Solomon Islands has a population of 700,000, across an archipelago that occupies a strategic position in the Pacific Islands, and was pivotal to the U.S. move west across the Pacific to liberate the Philippines in World War Two.

Persons: Manasseh Sogavare, Sogavare's, Penny Wong, Wang Yi, Sogavare, Matthew Wale, Meg Keen, Lowy, Wale, Kirsty Needham, Lincoln Organizations: SYDNEY, Solomon Islands, Australia's, Islands Government, Royal Solomon Islands Police Force, New Zealand, China's Global, Initiative, Global Security Initiative, Thomson Locations: Solomon, Australia, Beijing, Pacific, China, U.S, New Zealand, Solomon Islands, Jakarta, Islands, Honiara, Philippines, Taiwan, Washington, Canberra

☆ EV brand Smart plans funding led by Tianqi Lithium
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, July 13 (Reuters) - EV brand Smart said on Thursday it planned to raise $250-300 million via series-A funding which it hoped would enhance its long-term sustainable development strategy and accelerate its global development. Chinese lithium producer Tianqi Lithium Corp (002466.SZ) has agreed to invest $150 million in the fund raising, Smart said in a statement. Smart, a joint venture of Germany's Mercedes-Benz Group AG (MBGn.DE) and China's Zhejiang Geely Holding Group (GEELY.UL), said both firms will remain equal controlling shareholders. "Thanks to the support from Mercedes-Benz and Geely, Smart now is accelerating its global development and business operation. Meanwhile, we are more than glad to welcome the strategic investments of worldwide industry leaders, such as Tianqi Lithium," Smart's Global CEO Tong Xiangbei said in the statement.

Persons: Smart, Germany's Mercedes, Tong Xiangbei, Zhang Yan, Brenda Goh, Meg Shen Organizations: Lithium Corp, Benz Group AG, Zhejiang Geely Holding, Mercedes, Benz, Smart, Thomson Locations: SHANGHAI, Zhejiang

☆ UN recruits robots in strive to meet global development goals
▼ + stars: | 2023-07-05 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

Set in 2015, the U.N.'s 17 Sustainable Development Goals(SDGs) aim to improve human life and the planet by 2030 but are now widely perceived as a long shot. The two-day event will culminate with a panel of robots taking questions from journalists on Friday in the world's first human-robot press conference. The World Health Organization is working on a benchmarking system to ensure the accuracy of AI disease diagnoses. The ITU brings together 193 countries and over 900 organisations including universities and companies like Huawei Technologies [RIC:RIC:HWT.UL] and Google (GOOGL.O). It allocates global radio spectrum and satellite orbits and is involved with setting standards for artificial intelligence.

Persons: Nadine, Frederic Werner, ChatGPT, it's, Doreen Bogdan, Martin, Emma Farge, Emelia Sithole Organizations: International Telecommunication Union, ITU Telecommunication Standardization, World Health Organization, Huawei Technologies, Thomson Locations: GENEVA, Switzerland, Geneva

☆ China’s Xi says countries share responsibility to promote growth, opposes decoupling
▼ + stars: | 2023-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese President Xi Jinping said Tuesday that Beijing opposes "decoupling and breaking links," according to a CNBC translation of a Chinese-language state media readout. Promoting economic growth is the shared responsibility of countries in the region, Xi said, per the report of his remarks at a virtual summit of the Shanghai Cooperation Organization. The SCO is a political, security and trade alliance whose members are China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan and Uzbekistan. China is willing to work with all parties to implement the Global Development Initiative, and make the "cake" bigger so that people in different countries can benefit, the state media report of Xi's remarks said. The country opposes protectionism, unilateral sanctions and generalizing the concept of national security, the report also said Tuesday.

Persons: Xi Jinping, Xi, Xi's Organizations: National Congress, Communist Party of China, of, People, CNBC, Shanghai Cooperation Organization, SCO, Global Development Initiative, Global, Initiative, United Nations Locations: Beijing, China, BEIJING, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan, Uzbekistan, Saudi Arabia

☆ When Politics Saves Lives: a Good-News Story
▼ + stars: | 2023-06-07 | by ( Amanda Taub | ) www.nytimes.com time to read: +2 min

Here is something I don’t write about very often: a situation in which unpredictable, seemingly irrational politics saved millions of the poorest and most vulnerable people on earth. The program, started by President George W. Bush, paid for antiretroviral medications for millions of H.I.V. “The conventional wisdom within health economics was that sending AIDS drugs to Africa was a waste of money,” Sandefur wrote. It wasn’t that the drugs didn’t work: Antiretroviral therapy had achieved revolutionary results in controlling H.I.V.-AIDS, and had the potential to save the lives of infected people and prevent new infections. transmission more likely, data suggested, would save more lives per dollar than treatment would.

Persons: Justin Sandefur, George W, Bush, ” Sandefur, Forbes, ” Emily Oster Organizations: Center for Global Development, Washington , D.C, AIDS Relief, Brown University Locations: Washington ,, Saharan Africa, Caribbean, Africa, H.I.V

☆ Bombing of herders highlights deadly air attacks by Nigerian military
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +19 min

The letter said the Nigerian Air Force is committed to human rights and “further deliberations” on the issue, according to the report. “The absence of details raises the question of whether the air force carried out the air strike based on mere suspicion,” Human Rights Watch said. The U.S. State Department and the Pentagon had no immediate comment about the airstrike or the U.S. relationship with the Nigerian Air Force. Before now, neither the Nigerian government nor the military had provided any public explanation for what happened on Jan. 24. ACLED data show Nigerian Air Force strikes continued to claim the lives of noncombatants, inside and outside the northeast.

Persons: Ibrahim Muazu, “, ACLED, D.D, Pwajok, ”, Sara Jacobs, herdsmen, Oladayo Amao, Amao, “ miscreants, Muhammadu Buhari, Bola Tinubu, Jan, Muazu, Lamido, Nigeria’s, Sanusi, Buhari, Rand Paul, Cory Booker, Rex Tillerson, Lai Mohammed, Jacobs, Jim Risch, Chris Smith, Antony Blinken, Biden, Risch, brazenly “, ” Abubakar Bello Rukubi, ” “, Yemi Osinbajo, cc’d, Samuel Ortom, herder, ” Muazu, Humeyra Pamuk, Daphne Psaledakis, Idrees Ali, Jarrett Renshaw, David Lewis, Reade Levinson, Simon Newman, Catherine Tai Design, Eve Watling, Julie Marquis, Alexandra Zavis Organizations: herder, Reuters, Air Force, Nigerian Air Force, Human Rights Watch, Air, Rights Watch, Ministry of Defence, Nigerian Air, House Foreign Affairs, ” Reuters, ACLED, Planet Labs PBC, U.S . State Department, Pentagon, ”, Muazu, Congress, San Frontieres, Republican, Punch, UK, Nigeria –, Systems, U.S, Super, International, Development, Rights Initiative, Benue State Livestock Guards, Human Rights, Daily Trust, Nigeria’s Locations: Nigerian, Nasarawa, Akwanaja, United States, U.S, Nigeria, California, Kano, Rann, Cameroonian, Zamfara, “, Benue, ” Benue, London, Makurdi, Naka, Washington, Philadelphia

☆ Yellen urges new World Bank chief to 'get the most' from balance sheet
▼ + stars: | 2023-06-02 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, June 1 (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday told incoming World Bank Group President Ajay Banga to "get the most out of the bank's balance sheet" and mobilize more private capital for climate finance and global development objectives, the Treasury said. That includes continuing to implement recommendations from last year's G20 report on capital adequacy, which argued that changes to multilateral development banks could unlock hundreds of billions of dollars in new lending. She also said the World Bank needed to work more closely with its sister development banks. Banga, 63, was elected to a five-year term as World Bank president by the lender's board of governors on May 3. The U.S., the World Bank's largest shareholder, has traditionally chosen an American to run the World Bank, while Europe has chosen the head of the International Monetary Fund.

Persons: Janet Yellen, Ajay Banga, David Malpass, Yellen, Joe Biden, Malpass, David Lawder, Richard Chang, Chris Reese Organizations: . Treasury, World Bank, Treasury, Mastercard, AAA, U.S, International Monetary Fund, Thomson Locations: Banga, Ukraine, U.S, American, Europe

☆ World Bank's new chief asks staff to 'double down' on development, climate efforts
▼ + stars: | 2023-06-02 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/2] World Bank President Ajay Banga arrives for his first day of work at World Bank headquarters in Washington, U.S. June 2, 2023. REUTERS/Jonathan ErnstWASHINGTON, June 2 (Reuters) - The World Bank's new president Ajay Banga on Friday asked the lender's 16,000 staff to "double down" on development and climate efforts as he seeks to accelerate the bank's evolution to tackle the most pressing global problems. The World Bank Group is being asked to lead the way, to double down on development and climate efforts and to deliver even more impact and results," he said. He added this would require "all shoulders to the wheel," and all of the World Bank's divisions working together to deliver solutions needed by the world. Banga, 63, was elected to a five-year term as World Bank president by the lender's board of governors in May.

Persons: Ajay Banga, Jonathan Ernst WASHINGTON, Banga, Janet Yellen, Yellen, Joe Biden, David Malpass, Kevin Gallagher, There's, David Lawder, David Holmes, Hugh Lawson Organizations: World Bank, REUTERS, Friday, Mastercard, Reuters, Thursday, U.S, Treasury, Boston, Global, Policy, Thomson Locations: Washington , U.S, Banga, Paris

NEW YORK/LONDON, June 1 (Reuters) - A bill backed by debt justice campaigners and civil society groups advocating on behalf of economically distressed countries could alter past and future sovereign debt restructurings covered by New York state law - and Wall Street is watching. Senate Bill S4747, the NY Taxpayer and International Debt Crises Protection Act, "relates to New York state's support of international debt relief initiatives for certain developing countries." The initiative has so far failed to accelerate debt relief talks, while private creditors are not even formally included in this initiative. It would "bring badly needed improvements to the framework for resolving unsustainable sovereign debt burdens," according to Nobel Prize-winning U.S. economist Joseph Stiglitz. If this bill passes, "I would recommend issuers not go through New York law, (but) through London or any other jurisdiction," said Rodrigo Olivares-Caminal, professor of banking and finance law at Queen Mary University of London.

Persons: Bill S4747, Alexander Flood, Patricia Fahy, Kathy Hochul, Joseph Stiglitz, Rishikesh Ram Bhandary, THE BILL, Rodrigo Olivares, Caminal, Rodrigo Campos, Jorgelina, Karin Strohecker, Aurora Ellis Organizations: NY Taxpayer, Senate, Institute of International Finance, Paris Club, China, WHO, Economic, Initiative, Boston, Global, Policy, THE, Queen Mary University of London, Thomson Locations: New York, United States, Ukraine, Sri Lanka, Zambia, Rishikesh, London, Paris, Brazil, Argentina, Rosario

☆ Opinion | If You’re Reading This, You’re Probably ‘WEIRD’
▼ + stars: | 2023-05-26 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +83 min

You’re probably very weird, and not just for all the obvious reasons you’re thinking of. Because, obviously, there’s going to be some overlap in the curve here. How you’re going to behave with your professor is quite different than how you’re going to behave with your friends. But it’s really kind of faceless, and you’re not really helping anybody you know. I think things are dynamic, and directions are changing, and that sort of thing.

☆ This 15-mile, $6.7B bridge is a symbol of China’s ambitions, and its problems
▼ + stars: | 2023-05-23 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

The Greater Bay Area is home to 68 million people, covers 21,800 square miles and encompasses 11 cities: Hong Kong, Macao and nine others including Zhongshan and Shenzhen. The Shenzhen-Zhongshan bridge project features artificial islands and an undersea tunnel. That bridge connects the mainland Chinese city of Zhuhai with gambling hub Macao and leading financial center Hong Kong. An aerial view of the world's longest cross-sea bridge, the Hong Kong-Zhuhai-Macao Bridge, in Zhuhai city, south China's Guangdong province, 19 March 2019. The latest bridge would connect two mainland Chinese cities that were already under the same regulations, he pointed out.

☆ Sanofi: smoker's lung drug benefit was swift and sustained in trial
▼ + stars: | 2023-05-22 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

May 22 (Reuters) - The benefits of Sanofi (SASY.PA) and Regeneron's (REGN.O) anti-inflammatory drug Dupixent set in quickly during a trial to treat "smoker's lung" and lasted for the duration of the 1-year study, French drugmaker Sanofi said late on Sunday. The company said it was discussing with major watchdogs across the world whether the trial results are substantial enough to support a regulatory review or whether that will require the results of another ongoing trial. Sanofi presented details on the successful study at the American Thoracic Society congress in Washington over the weekend. "Within two weeks we saw improvement in lung function and improvement in quality of life," said Naimish Patel, Sanofi head of global development for immunology and inflammation. "We will take these results to regulators and have a discussion about what can be done ahead of the read-out of the second trial," Patel said.

☆ Fact Check-Quote ‘children must have sexual partners’ falsely attributed to the UN
▼ + stars: | 2023-05-11 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A quote attributed to the United Nations about children having “sexual partners” is fabricated, and does not appear in guidance on childrens’ sexuality education cited in the false claims. “'Children must have sexual partners’ says United Nations,” reads a poster shared on Twitter that has been viewed more than 779,900 times (here). “CSE is falsely accused of sexualizing children, introducing sexually inappropriate material to young children too early, grooming them for sexual abuse, and promoting homosexuality. Reuters has previously debunked false claims circulating online about the UN advocating decriminalization of sex with children (here). The UN published guidelines on sexuality education for children, but did not say “children must have sexual partners.”This article was produced by the Reuters Fact Check team.

The election came after World Bank board members interviewed Banga for four hours on Monday. Biden congratulated Banga on his "resounding approval" to run the World Bank, which he described as "one of humanity’s most critical institutions to reduce poverty and expand prosperity around the globe." "Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President," Biden said. "The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process, as discussed at the April 2023 Spring Meetings, and on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries," the bank said. The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European.

Banga, 63, was nominated for the post by U.S. President Joe Biden in late February and was the sole contender to replace departing World Bank chief David Malpass, an economist and former U.S. Treasury official during the Trump administration. Sources familiar with the process said they expect Banga to win the board's approval handily after several meetings with board members in recent weeks and a formal interview on Monday. One of the sources said Banga had impressed World Bank shareholders in recent weeks as a "true change maker" who will help accelerate reforms at the global development bank. The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European. Banga, who was born in India and spent his early career there, has been a U.S. citizen since 2007.

☆ An experimental drug just showed it can help slow Alzheimer's, offering new hope for patients and a major boost to pharma giant Eli Lilly
▼ + stars: | 2023-05-03 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

The pharma giant Eli Lilly said donanemab slowed cognitive decline in people with Alzheimer's. The news comes months after the FDA approved an Alzheimer's drug called Leqembi. On Wednesday, the pharma giant Eli Lilly said its experimental drug donanemab had successfully slowed cognitive and functional decline in patients with early-stage Alzheimer's, offering some hope to people with a condition that lacks good treatment options. In the trial, patients received donanemab until scans showed their brains were clear of those proteins, called beta-amyloid. Leqembi slowed the rate of cognitive decline in Alzheimer's patients by 27% over 18 months in a late-stage study.

☆ US World Bank nominee Banga set for vote on Wednesday after 4-hour interview
▼ + stars: | 2023-05-02 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: U.S. nominee to head World Bank, Ajay Banga stands with officials during his visit at the headquarters of Ivorian electricity company of Yopougon in Abidjan, Ivory Coast March 7, 2023. REUTERS/Luc GnagoWASHINGTON (Reuters) - The World Bank’s 25-member executive board is set to vote on the U.S. nominee to run the World Bank, Ajay Banga, on Wednesday after completing a four-hour interview with the ex-Mastercard CEO on Monday, sources familiar with the process said. If approved, Banga could start in the new job in early June after the June 1 departure of Malpass. U.S. President Joe Biden nominated Banga, an Indian-born executive who is now a U.S. citizen, in late February. The World Bank has been led by an American since its founding at the end of World War Two, while the International Monetary Fund has been led by a European.

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