DIRS.INFO The most relevant business & tech news

☆ CNBC's Inside India newsletter: Will AI make or break India?
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +9 min

But one that could foreshadow India's growth story. Can Teleperformance's stock plunge be the canary in the coal mine for what is likely to happen to India because of AI? But it's likely to be a blip for India's growth trajectory, given the macro forces at play. Besides creating jobs that are less likely to be immediately disrupted by AI, India could also be a net beneficiary of artificial intelligence. The Indian stock market indexes, Sensex and Nifty 50 , are heading for a positive week again — up by 1% and 1.2%, respectively.

Persons: Findlay Kember, Klarna, ChatGPT, K Krithivasan, Krithivasan, Narendra Modi, It's, Shilan Shah, Goldman Sachs, Vinay Dwivedi, Ashok Gulati, Nomura, League Pickleball, Karine Jean, Pierre, Jerome Powell, Raghuram Rajan, Ashish Jain, CNBC's Ayushi Jindal Organizations: AFP, Getty, India's Tata Consultancy Services, Financial Times, TCS, World Bank, International Monetary Fund, University of Oxford, Capital Economics, Investment, Nomura, Qualcomm, Powerchip Semiconductor Manufacturing, UPI, India, Commission, Agricultural, United Pickleball Association, Global Sports, PPA, League, Washington Post, White, U.S ., Federal, CNBC, Reserve Bank of India, University of Chicago Booth School of Business Locations: Swedish, Paris, India, Chennai, U.S, Europe, China, Singapore, South Korea, Canada, United States

☆ Oil prices drop as reports say Israel and Hamas could soon head for cease-fire talks
▼ + stars: | 2024-04-29 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Oil prices fell as reports on Monday indicated that Israel and Hamas could engage in cease-fire talks this week. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOil prices dropped Monday with energy markets eyeing fading geopolitical risks as Israel and Hamas reportedly move toward cease-fire talks. Cease-fire discussions could begin as soon as Tuesday if both parties agree to meet Cairo, the report said. Analysts say they see as much as a 20% surge for stocks in the sector as conflict and supply disruptions keep prices elevated.

Persons: Antony Blinken, —, Brent, Israel, David Rosenberg Organizations: Service, Hamas, West Texas Intermediate, The New York Times, United, Reuters, Bank Locations: Israel, Cairo, United States, Saudi Arabia, Rafah, Russia, Ukraine, OPEC

☆ We have more insights as to where the economy is headed — and it's not good
▼ + stars: | 2024-04-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how the latest GDP data has shifted the expectations of where the economy is headed. Now, the economy will need some type of event (see: bubble popping) for rate cuts to become an option anytime soon, Miskin said. Energy price shocks could bring the world economy to a "vulnerable moment," chief economist Indermit Gill warned.

Persons: —, TikTok, they're, you'd, Jia Feng, It'll, Insider's Madison Hoff, It's, Jerome Powell, Anna Moneymaker, BI's Filip De Mott, Jamie Dimon, Matt Miskin, Miskin, Mark Zuckerberg, C, Cox, Jenny Chang, Rodriguez, Goldman Sachs, Guess what's, Indermit Gill, Alphabet's, Redmond, Tyler Le, Doug McMillon, execs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Reserve, stagflation, JPMorgan, Wall Street, John Hancock Investment Management, Galatioto Sports Partners, Bank, Google, Big Tech, Microsoft, Health, Linkedin, YouTube, ExxonMobil Locations: Chevron, New York, London

Has South Africa Truly Defeated Apartheid? U.S.A., 2020 – 63% U.K., 2019 – 62% 60% 49% 40% 20% 1994 2004 2014 2019 Sources: Collette Schulz-Herzenberg, "The South African non-voter: An analysis"; Konrad Adenaur Stiftung, 2020 (South Africa); Pew Research (United States and U.K.)On a continent where coups, autocrats and flawed elections have become common, South Africa is a widely admired exception. −4% −6% Sources: Harvard Growth Lab analysis of World Economic Outlook (South Africa and sub-Saharan Africa) and World Development Indicators (upper-middle-income countries). 50% unemployment rate 40% Black unemployment rate 30% The unemployment gap between Black and white South Africans remains wide. In 2022, about 6 percent of South Africans aged 18 to 29 were enrolled in higher education, according to Statistics South Africa.

Persons: Nelson Mandela, they’ve, Collette Schulz, Konrad Adenaur Stiftung, —, Walter Sisulu, Joao Silva, New York Times Jack Martins, ”, Mandela’s, Wandile Sihlobo, Johann Kirsten, Sihlobo, Kirsten, haven’t, Zinhle Nene, Peter Mokoena, “, Mokoena, Nokuthula Mabe, Mabe, Jacob Zuma, Chrispin Phiri, Cyril Ramaphosa, Israel, Sibusiso Zikode, Zikode, Mr Organizations: African National Congress, Pew Research, Human Sciences Research, World Bank, Black South, Charter, New York Times, University of Cape Town’s Liberty Institute of Strategic Marketing, Johannesburg Stock Exchange, Economic Empowerment, South, Harvard, Economic, Government, Black, Mr, Stellenbosch University . White, Statistics, Security, JOHANNESBURG Jobs, JOHANNESBURG Sandton Downtown, West University, Education, Statistics South, General Household Survey, of, Stellenbosch University, Ministry of Justice and Correctional Services, Institute for Security Studies, International Court of Justice Locations: Africa, South Africa, Black, States, Soweto, Kliptown, Johannesburg, South, Saharan Africa, Carletonville, JOHANNESBURG, Downtown Soweto, JOHANNESBURG Sandton, JOHANNESBURG Sandton Downtown Soweto, North, Mahikeng, Botswana, Statistics South Africa, Brazil, Mexico, Philippines, African, Germany, Russia, India, China, Ethiopia, Burundi, Zimbabwe, Ukraine, New York Times South Africa, Gaza, Durban, South Africa’s

☆ Middle East escalation could trigger energy shock that fuels inflation, World Bank warns
▼ + stars: | 2024-04-25 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The outbreak of a major conflict in the Middle East could trigger an energy shock that pushes oil prices above $100 a barrel, fuels inflation and results in higher interest rates for longer, the World Bank warned Thursday. The governments in Jerusalem and Tehran appear to have decided against escalation after exchanging direct strikes on each other's territory for the first time. Oil prices have pulled back nearly 4% from recent highs as investors have discounted the probability of a wider war in the Middle East. The World Bank, however, cautioned that the situation in the region remains uncertain. "The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years," said World Bank Chief Economist Indermit Gill.

Persons: Israel, Indermit Gill Organizations: World Bank, Bank Locations: Isfahan Refinery, Iran, Isfahan, Jerusalem, Tehran

☆ High inflation could be here to stay as commodity prices spike again after a 2-year decline, World Bank says
▼ + stars: | 2024-04-25 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

High inflation will stay for longer as commodity prices rallied again after falling for two years, World Bank Group says. The bank expects global inflation to jump by a solid percentage point by 2024 due to the flip-flop oil prices driven by geopolitical risks. But this sluggish decline will buoy commodity prices around 38% higher than pre-COVID averages, offering little relief for inflation-weary economies. The World Bank warned that a significant disruption could propel oil prices beyond $100 per barrel, hiking global inflation by almost a full percentage point in 2024. That fear of lower growth and high inflation was on display in the US on Thursday, as first-quarter GDP came in much lower than expected even as consumer prices remained high in the quarter.

Persons: —, wanes, Indermit Gill, Ayhan Kose Organizations: World Bank, Service, World Bank Group, Bank Locations: Israel, Iran, Ukraine, Russia

☆ Columbia president Minouche Shafik faces criticism in all directions
▼ + stars: | 2024-04-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees. University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus. They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom. “I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said. Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus.

Persons: Minouche Shafik, Shafik —, Liz Magill, Claudine Gay, Shafik, Alexandra Ocasio, Cortez, Mike Johnson, “, ” Johnson, ”, James Finkelstein, “ She’s, ” Finkelstein, Grayson Kirk, Kirk, Columbia’s Hillel, Robert Kraft Organizations: New, New York CNN, Columbia, Trustees, Representatives, World Bank, International Monetary Fund, Bank of England, London School of Economics, Hamas, College, University of Pennsylvania, Harvard University, New York Police Department, Democratic, Republican, George Mason University, ” Columbia’s, Police, NYPD, of Education, Harvard, Department, Education, ” New England Patriots Locations: New York, Israel, Vietnam, Harlem, Gaza, Columbia’s, Columbia, ”

☆ How a climate tech founder is growing his advisory board, including Larry Summers
▼ + stars: | 2024-04-20 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

But meeting that lofty challenge is increasingly not just a function of Kemper's gained expertise in renewables and clean technology from stints at the UN and financing clean energy projects in developing countries before founding Palmetto, he told us recently. Building the proper sounding board is critical for any leader, especially as challenges and opportunities for business are emerging quicker than ever. For Kemper, his approach has been to build a network around him where "the world is kind of one degree away." Kemper said Summers' expertise will be crucial as the company looks to navigate the continually murky waters of economic policy moving forward. Decarbonization is not only vital for environmental sustainability but also for stabilizing global long-term economic growth," Summers said in a statement.

Persons: Chris Kemper, Kemper, Kemper's, You've, Neil Chatterjee, Nirav Tolia, Monica Williams, Larry Summers, Bill Clinton's, President Obama, Summers, Larry, there's Organizations: Palmetto, UN, U.S . Federal Energy Regulatory, Equity, National Economic Council, President, World Bank

☆ German cars are the best in the world, its finance minister insists: 'They do not have to fear Chinese competition'
▼ + stars: | 2024-04-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Christian Lindner (FDP), Federal Minister of Finance, is on his way to a bilateral meeting with US Treasury Secretary Yellen at the headquarters of the World Bank. Bernd von Jutrczenka | Picture Alliance | Getty ImagesGerman carmakers do not have to fear competition from China and are still considered the best in the world, German Finance Minister Christian Lindner told CNBC. "German car manufacturers are world leading, they do not have to fear Chinese competition," Lindner said. Competition in the electric vehicle, or EV, market in China and Europe, as well as the U.S., has been heating up in recent months. This came ahead of Scholz's visit to China earlier this month, during which he warned against unfair competitive and trade practices.

Persons: Christian Lindner, Yellen, Bernd von Jutrczenka, CNBC's Karen Tso, Lindner, China's BYD, Tesla, Janet Yellen, Ursula von der, Wang Wentao, Olaf Scholz Organizations: Federal, of Finance, US, World Bank, Getty, German, CNBC, Washington , D.C, European Union . U.S, Treasury, European Commission, European Union, Commerce, EV, Reuters Locations: China, Washington ,, Europe, U.S, EVs, EU

☆ Critical mineral mining is key to the green transition, but experts warn reputational risks remain
▼ + stars: | 2024-04-19 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesMining of critical minerals plays a crucial role in the global green transition, but the broader industry's bad reputation and other challenges present investment barriers, industry experts warn. Critical minerals include metals such as copper, lithium, nickel, cobalt and rare earth elements, and are important components in emerging green technologies such as wind turbines and electric vehicles. Speaking on a panel at Singapore's annual Ecosperity Week, which ended Wednesday, mining industry experts and investors said the growing demand from green tech makes it necessary to increase government support and capital flows into the critical mining sector. Many of the same companies that mine critical minerals also mine environmentally damaging fossil fuels like coal. One area that has seen recent strides and investments has been in the recycling of critical minerals, which cuts down the need of extraction.

Persons: Adam Matthews, Dominic Barton, Barton, Scott Clements Organizations: PT Vale, Getty Images, Global Investor Commission, Mining, Royal Bank of Canada, Rio Tinto, LeapFrog Investments, International Renewable Energy Agency, EV, World Bank, Tribeca Capital Locations: PT Vale Indonesia, China, Paris, Rio, Indonesia's Sulawesi, Rio Tinto, Western Australia

☆ The Missing $1 Trillion
▼ + stars: | 2024-04-18 | by ( David Gelles | Manuela Andreoni | ) www.nytimes.com time to read: +1 min

Discussions about how to reform lumbering multilateral bureaucracies can get tedious quickly. How to make more money available for developing nations that are being battered by extreme weather? And how to make sure poor countries don’t spend too much money servicing their debt? Experts estimate that at least $1 trillion a year is needed to help developing countries adapt to hotter temperatures and rising seas, build out clean energy projects and cope with climate disasters. “For many countries, they will only be able to implement strong new climate plans if we see a quantum leap in climate finance this year,” Simon Stiell, the United Nations climate chief, said in a speech last week.

Persons: ” Simon Stiell Organizations: World Bank, International Monetary Fund, United Nations Locations: United

☆ Bangladesh’s soaring prices get thousands playing ‘hunger games’ for food
▼ + stars: | 2024-04-17 | by ( Akanksha Sharma | ) edition.cnn.com time to read: +5 min

They’re playing to win every day staples like rice, oil, sugar, lentils and other items that soaring inflation has put beyond their reach. Courtesy Omar Sunny Somrat/SS Food ChallengeThe combination of colorful games and the feel-good factor of nobody going home empty-handed has given Somrat a genuine hit. Courtesy Omar Sunny Somrat/SS Food ChallengeBy 2021, he began organizing contests for village kids competing in games and winning prizes like home appliances. A year later, though, he stumbled onto the winning formula when food prices soared and the Bangladeshi currency, the taka, depreciated in value against the US dollar. Between 2022 and 2023, food prices in Bangladesh jumped by 9%, the highest average rate in 12 years, according to the country’s Bureau of Statistics.

Persons: Mohammad Abdur Rouf, can’t, I’d, Omar Sunny Somrat Abdur —, —, Omar Sunny Somrat, They’re, “ It’s, ” Somrat, Somrat, ”, taka, Munir Uz Zaman, Ruchir Desai, Desai, Asma Khatun Organizations: CNN, SS, SS Food, Bank, YouTube, Facebook, greenback, country’s, Statistics, Getty, Asia Frontier Investments, International Monetary Fund Locations: Chapra, Bangladesh, Ukraine, Banwarinagar, Pabna, Purandarpur, Pabna District, Dhaka, AFP

☆ What Can ‘Green Islam’ Achieve in the World’s Largest Muslim Country?
▼ + stars: | 2024-04-17 | by ( Sui-Lee Wee | Ulet Ifansasti | ) www.nytimes.com time to read: +1 min

The faithful gathered in an imposing modernist building, thousands of men in skullcaps and women in veils sitting shoulder to shoulder. “Our fatal shortcomings as human beings have been that we treat the earth as just an object,” Grand Imam Nasaruddin Umar said. Like fasting during Ramadan, it is every Muslim’s Fard al-Ayn, or obligation, to be a guardian of the earth. Like giving alms, his congregants should give waqf, a kind of religious donation, to renewable energy. Dismayed by the trash sullying the river that the mosque sits on, he ordered a cleanup.

Persons: Nasaruddin Umar, Nasaruddin Organizations: World Bank Locations: skullcaps, Istiqlal, Jakarta, Indonesia

☆ Opinion: The next pandemic threat demands action now
▼ + stars: | 2024-04-17 | by ( Opinion Jaime M. Yassif | ) edition.cnn.com time to read: +9 min

Well, so far US officials are saying they believe there is minimal risk to the public from the latest iteration of bird flu. According to the Global Health Security Index, there are significant gaps in countries’ pandemic preparedness capabilities. Given the impact of Covid, it is deeply disappointing that national governments are not investing the necessary resources to build life-saving pandemic preparedness capacity. Making matters worse, Congress has made major cuts to pandemic preparedness funding, as part of the ongoing appropriations process. Playing the long game also means supporting the World Bank Pandemic Fund, which is designed to invest in long-term pandemic preparedness capacity of low- and middle-income countries.

Persons: Jaime M, Yassif, ”, —, we’ve, US Department of Agriculture —, It’s, Biden, Covid Organizations: Global Biological Policy, Nuclear Threat Initiative, CNN, Yassif Nuclear, US Centers for Disease Control, Prevention, US Department of Health, Human Services, CDC, US Department of Agriculture, Global Health, Brown, Pandemic Center, Gates Foundation, NTI, Johns Hopkins Center for Health Security, Global Health Security, Bank, Fund, pandemics Locations: Texas , Kansas, Texas, Colorado, Covid, United States

☆ High company valuations a 'worry,' IMF's capital markets chief says
▼ + stars: | 2024-04-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF's director of the Monetary and Capital Markets Department said Tuesday. Financial markets have been on a tear for much of this year, buoyed by falling inflation and hopes of forthcoming interest rate cuts. But that "optimism" has stretched company valuations to a point where that could become vulnerable to an economic shock, Tobias Adrian said. "We do worry in some segments where valuations have become quite stretched," Adrian told CNBC's Karen Tso Tuesday. Adrian, who was speaking on the side lines of the IMF's Spring Meeting in Washington, said that credit markets were a particular area of concern.

Persons: Tobias Adrian, Adrian, Karen Tso Organizations: Monetary, Capital Markets, International Monetary Fund, World Bank Group, Washington DC, Capital Markets Department, Financial Locations: Washington, United States

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ I.M.F. Sees Steady Growth but Warns of Rising Protectionism
▼ + stars: | 2024-04-16 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

The global economy is approaching a soft landing after several years of geopolitical and economic turmoil, the International Monetary Fund said on Tuesday. But it warned that risks remain, including stubborn inflation, the threat of escalating global conflicts and rising protectionism. In its latest World Economic Outlook report, the I.M.F. projected global output to hold steady at 3.2 percent in 2024, unchanged from 2023. The forecasts came as policymakers from around the world began arriving in Washington for the spring meetings of the International Monetary Fund and the World Bank.

Organizations: International Monetary Fund, World Bank Locations: Ukraine, Washington

☆ World Bank: We want to support developing countries while focus is on global crises
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorld Bank: We want to support developing countries while focus is on global crisesAxel van Trotsenburg, managing director of the World Bank, discusses the need to get more private sector capital into emerging markets.

Persons: Axel van Trotsenburg Organizations: World Bank

☆ How Microsoft Azure Arc Brings Cloud Solutions to Hybrid Environments
▼ + stars: | 2024-04-03 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

That's why Microsoft is committed to meeting customers wherever they are, with adaptive solutions that bring their data together from the ground to the cloud, with Azure Arc. As of 2023, World Bank had connected about 25% of its SQL Server estate to Azure Arc. Today, World Bank and Microsoft are working together on additional functional elements to improve optimization of Azure Arc. "We've already seen how Azure Arc can make us more efficient and reduce our operating costs. "We've already seen how Azure Arc can make us more efficient and reduce our operating costs.

Persons: it's, Chandra Kala Macha, Kala Macha, It's, We've Organizations: Microsoft, Bank, World Bank, IT, Intel, Technology, QuickAssist, Arc, Insider Studios

☆ Ugandan Court Upholds Draconian Anti-Gay Law
▼ + stars: | 2024-04-03 | by ( Abdi Latif Dahir | ) www.nytimes.com time to read: +1 min

Uganda’s Constitutional Court on Tuesday largely upheld a sweeping anti-gay law that President Yoweri Museveni signed last year, undermining the efforts of activists and rights groups to abolish legislation that drew worldwide condemnation and strained the East African nation’s relationship with the West. The legislation, which was signed into law by Mr. Museveni in May, calls for life imprisonment for anyone who engages in gay sex. But the law was popular in Uganda, a landlocked nation of over 48 million people, where religious and political leaders frequently inveigh against homosexuality. The fallout for Uganda will be watched closely in other African countries where anti-gay sentiment is on the rise and anti-gay legislation is under consideration, including Kenya, Namibia, Tanzania and South Sudan. In February, Ghana’s Parliament passed an anti-gay law, but the country’s president said that he would not sign it until the Supreme Court ruled on its constitutionality.

Persons: Yoweri Museveni, Museveni Organizations: East, West, World Bank Locations: Uganda’s, Uganda, United States, Kenya, Namibia, Tanzania, South Sudan, Ghana’s

☆ The developing East Asia and Pacific region is 'underachieving,' World Bank economist says
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe developing East Asia and Pacific region is 'underachieving,' World Bank economist saysAaditya Mattoo, the World Bank's East Asia and Pacific chief economist, says "it is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential."

Persons: Aaditya Mattoo Organizations: World Bank Locations: East Asia, Pacific

☆ East Asia's growth is faster than the rest of the world but China headwinds weigh, World Bank says
▼ + stars: | 2024-04-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

As inflation continues to impact global economies, Asia-Pacific is the only region that will see real salary growth in 2023, according to ECA International. Growth in developing East Asia and Pacific is outpacing the rest of the world, but the region will likely see slower growth in 2024 amid headwinds in China and broader policy uncertainty, according to the World Bank. "It is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential," Aaditya Mattoo, East Asia and Pacific chief economist at the World Bank, told CNBC's "Street Signs Asia" on Monday. Growth in the region is expected to ease to 4.5% this year, slowing from last year's 5.1% expansion, according to the bank's East Asia and Pacific (EAP) update for 2024, which was released Monday. However, excluding China, growth in the region is predicted to reach 4.6% this year — higher than 4.4% in 2023.

Persons: CNBC's Organizations: ECA International, World Bank Locations: Asia, Pacific, East Asia, headwinds, China

☆ Asian Infrastructure Investment Bank president: People shouldn't exaggerate geopolitical tensions
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsian Infrastructure Investment Bank president: People shouldn't exaggerate geopolitical tensionsJin Liqun, president of the bank, discusses the projects it has co-financed with the World Bank and the Asian Development Bank.

Persons: Jin Liqun Organizations: Infrastructure Investment Bank, World Bank, Asian Development Bank

☆ China’s Xi meets American CEOs to boost confidence in world’s second largest economy
▼ + stars: | 2024-03-27 | by ( Laura He | Wayne Chang | ) edition.cnn.com time to read: +3 min

Foreign direct investment in China has slumped in recent months as a combination of slower growth, regulatory crackdowns, onerous national security legislation and questions about the country’s long-term growth prospects have shaken confidence in the world’s second biggest economy. But global investors remain wary of China’s rising scrutiny of Western companies as well as a structural slowdown. In the first two months of 2024, foreign direct investment (FDI) into the country shrank nearly 20% from a year ago, underscoring weak confidence among global executives. Another gauge of FDI — direct investment liabilities — showed a 82% slump in 2023, according to figures released by the State Administration of Foreign Exchange. China has set this year’s economic growth target at around 5%, the same as last year’s.

Persons: Xi Jinping, Cristiano Amon, Raj Subramaniam, Stephen Schwarzman Organizations: Taipei CNN, Qualcomm, FedEx, Blackstone, of, International Monetary Fund, World Bank, China Development, Commerce Ministry, State Administration of Foreign Exchange, American Chamber of Commerce Locations: China, Hong Kong, Taipei, Beijing, United States

☆ Analysis: Europe is trying to fill a US-shaped hole in funding for Ukraine
▼ + stars: | 2024-03-23 | by ( Luke Mcgee | ) edition.cnn.com time to read: +7 min

CNN —Can Europe fill the gap left by the United States in Ukraine? Over the course of the war, European thinking has evolved. Should EU money be spent outside the bloc? So, can Europe fill the funding void in Ukraine left by Washington DC? Yes, Europe can fill the gap left by the US - and in some respects is trying to do just that.

Persons: Donald Trump, Alexander De Croo, Volodymyr Zelensky, Serhii, it’s, –, Vladimir Putin, Jens Stoltenberg Organizations: CNN, European Union, Ukraine, Belgian, Radio Free, Radio Liberty, Reuters, NATO, Diplomats, EU, Ukraine’s, Washington DC Locations: United States, Ukraine, European, Europe, Russia, Kyiv, Kiel, Radio Free Europe, EU, Moscow, Brussels, Russian, Zaporizhzhia, Czech Republic, Hungary, Czech, Eastern, Western Europe, Athens, Rome

Search resuls for: "The World Bank"

25 mentions found