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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: World Bank

World Bank stories: 59 news summaries

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Bubbles Reinflating,
World Bank Warns

Asian asset prices soaring as recovery takes hold

Nov 4, 09 3:32 AM CST
(Newser) - Efforts to boost economic recovery are having the dangerous side effect of creating new bubbles in property, stock, and currency markets, the World Bank warned yesterday. Commodity prices are also surging, with gold hitting a record price yesterday. The effect is most pronounced in Asia, where recovery has come soonest,... More »

MORE ABOUT:
stock market • World Bank • Hong Kong • market bubble • housing bubble • assets

MARKETS

 Banks, Energy Fall; Dow Off 201 

Dow, S&P 500 now negative for 2009

Jun 22, 09 3:18 PM CDT
(Newser) - A global rout in materials and energy stocks combined with a sell-off in financials to wreak havoc on US markets today, the Wall Street Journal reports. The Dow closed down 200.72 at 8,339.01. The Nasdaq lost 61.28, closing at 1,766.19, and the S&P... More »

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World Bank • Bank of America • Dow Jones • Alcoa • General Electric • American Express • Nasdaq • S&P 500

MARKET Open

 Stocks Sink 
 on World Bank Report 


Jun 22, 09 9:04 AM CDT
(Newser) - Stocks tumbled this morning after the release of a grim forecast by the World Bank. The Dow tumbled about 100 points, while the Nasdaq and S&P each dropped 1.6%. The World Bank predicted the economy would shrink 2.9% this year, a big downward revision from its previous... More »

MORE ABOUT:
stock market • World Bank • Dow Jones • Nasdaq • energy markets • S&P 500 • oil prices

MARKET Open

 Stocks Dip Again 


Mar 9, 09 8:54 AM CDT
(Newser) - After four consecutive weeks of losses, stocks headed south yet again today, with the Dow down 40 points, and the S&P and Nasdaq sliding 0.5% and 0.2% respectively in early trading, the Wall Street Journal reports. The pessimism comes after the World Bank said that the global... More »

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stock market • World Bank • Dow Jones • Nasdaq • S&P 500 • financial crisis

 Bombed-Out 
 US Economy 
 Blasts Globe 
 Into Recession 

Developing nations hit especially hard in first world recession since World War II

Mar 9, 09 4:05 AM CDT
(Newser) - The world economy is plunging into its first global recession since World War II, and sending 46 million people in developing countries back into poverty, warns a World Bank report. The global lender is urging leading nations to pledge a portion of their stimulus packages to stem the mounting crisis... More »

MORE ABOUT:
World Bank • International Monetary Fund • recession • poverty • developing countries • developing world

Bush Faithful Rewarded With Plum Jobs

No crony left behind
in last-minute
appointments

Feb 10, 09 8:39 AM CST
(Newser) - The Bush presidency lives on through more than 100 end-of-term appointments to a wide range of presidential panels, the Washington Post reports. The positions, many of which will outlast his successor's current term, have gone to George Bush's aides and political donors. Most are unpaid, although four top aides snagged... More »

MORE ABOUT:
World Bank • Bush legacy • political donors • George W. Bush • political appointment

Treasury May Require Matching Funds for Bailouts

Setting matching funds as a prerequisite for rescue cash puts investors back in the picture

Nov 12, 08 8:39 AM CST
(Newser) - Companies that take part in the second phase of the Treasury Department’s bailout plan could be required to raise private capital to match federal funds, reports the Wall Street Journal. The first phase of the Troubled Asset Relief Program, which has been buying up stakes in banks, has no... More »

MORE ABOUT:
World Bank • Henry Paulson • Troubled Asset Relief Program • financial crisis • Wall Street bailout

OPINION

From Carnage
of Crisis Rises Vast Opportunity

World must act to overhaul finance for next era: Gordon Brown

Oct 17, 08 7:31 AM CDT
(Newser) - The British plan to recapitalize world banks helped calm global markets, but Gordon Brown isn't done yet. In an op-ed for the Washington Post, the prime minister declares that we face "a defining moment for the world economy" on par with the aftermath of World War II, and that... More »

MORE ABOUT:
globalization • World Bank • International Monetary Fund • Gordon Brown • global economy • regulation • financial crisis • Bretton Woods

 World Bank 
 Vows to Stand 
 Behind Poor 

Aid to developing nations must be maintained, bank president warns

Oct 13, 08 5:18 AM CDT
(Newser) - The head of the World Bank cautioned yesterday that the economic crisis could hit developing countries the hardest, and pledged the bank’s support in helping those nations protect their poor, reports AP. Bank president Robert Zoellick warned that aid to impoverished regions must continue to flow even as the... More »

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World Bank • Henry Paulson • Robert Zoellick • developing countries • financial crisis

 The Crisis Dwarfs $700B 

A US-centric band aid can't quell global markets as confidence plunges

Oct 7, 08 10:18 AM CDT
(Newser) - As the financial crisis continues to grow, the $700 billion bailout passed by Congress last week may be too little too late, the Washington Post reports. The plan may not begin relieving banks of toxic assets for another month, and, meanwhile, the crisis has gone global, making $700 billion seem... More »

MORE ABOUT:
Ben Bernanke • World Bank • Europe • Henry Paulson • Chinese economy • bailout • bank failure • economy • financial crisis

Malaria Fight Gets $3B Booster Shot

Initiative will focus on Africa, stress the need
for persistence

Sep 27, 08 12:05 PM CDT
(Newser) - The global fight against malaria will get an unprecedented $3 billion push from a global alliance of nonprofits, financial institutions, and governments, the Wall Street Journal reports, with a focus on prolonging the effort beyond initial successes. The Global Malaria Action Plan aims for multibillion-dollar yearly funding through 2020, and... More »

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Africa • World Bank • malaria • Bono • aid programs • Bill and Melinda Gates Foundation • donor

 China's Economy Will Dwarf US 

Twice the size of the US economy by 2050: report

Jul 9, 08 7:33 AM CDT
(Newser) - China is the world's economic superpower of the future and will dwarf the financial might of the US, according to a new study by an American research organization. China's economy will surpass the US economy by 2035—and be more than double its size by 2050, predicts the report by... More »

MORE ABOUT:
China • United Nations • World Bank • International Monetary Fund • US economy • Chinese economy • Chinese Communist party • Carnegie Endowment for International Peace

 Biofuel Caused Food 
 Crisis: Secret Report 

Findings covered up to avoid US embarrassment

Jul 4, 08 3:45 PM CDT
(Newser) - Biofuel production has been the driving force behind the growing food crisis, pushing prices up 75%, according to a confidential World Bank report obtained by the Guardian. The most detailed research ever conducted on the issue emphatically contradicts the US position that biofuels are responsible for a mere 3% price... More »

MORE ABOUT:
Bush administration • hunger • ethanol • World Bank • biofuel • food prices • George W. Bush

 Celebs Earn 
 Stripes Helping
 Save Tigers 

Harrison Ford, Bo Derek on board with World Bank effort to preserve habitats

Jun 10, 08 11:39 AM CDT
(Newser) - Actors Bo Derek, Harrison Ford, and Robert Duvall helped the World Bank kick off a tiger-preservation campaign yesterday in Washington, CNN reports, with efforts to save the endangered species' habitats atop the list. Derek, who works with the US State Department to fight trafficking, says the tiger initiative should stem... More »

MORE ABOUT:
endangered species • environment • Hollywood • World Bank • Robert Zoellick • Harrison Ford • tiger • Robert Duvall • National Zoo • Bo Derek

 World Bank
 Offers $1.2B
 in Food Aid 

Millions at risk of starvation

May 30, 08 6:46 AM CDT
(Newser) - The World Bank is offering an emergency $1.2 billion in aid to several nations in a desperate bid to stave off starvation for millions of people, reports the BBC. The money is being offered to Haiti, Liberia, Djibouti, Togo, Yemen and other nations identified as at immediate risk from... More »

MORE ABOUT:
United Nations • World Bank • Robert Zoellick • food prices • food shortage • Togo • Tajikistan • world food summit

World Bank Nixes Loan to Burmese Junta

Military government 'in arrears' on earlier debts; aid still scarce

May 20, 08 10:54 AM CDT
(Newser) - As Burma looks for loans to cover an estimated for $10 billion worth of damage from Cyclone Nargis, the World Bank won't be among the lenders, the Telegraph reports. The junta has been in debt to the bank for more than a decade, and the bank is legally barred from... More »

MORE ABOUT:
World Bank • Myanmar • Burma • military junta • Cyclone Nargis • emergency aid

G-7 Leaders Offer No Fix for Credit Crisis

Ministers endorse more transparency, but not coordinated action

Apr 14, 08 7:31 AM CDT
(Newser) - Group of Seven finance ministers ended 3 days of meetings in Washington yesterday by endorsing a plan to create greater transparency and oversight in financial markets to avert future crises, but no emergency measures to stem the current one. Despite a downbeat report on the likelihood of worldwide recession, and... More »

MORE ABOUT:
hunger • World Bank • recession • IMF • credit crisis • Dominique Strauss Kahn • Group of Seven • hunger riots • financial crisis

Surging Energy Prices Drive Global Inflation 

Food costs, up 83%
in 3 years, also slap worldwide economies

Apr 10, 08 12:00 PM CDT
(Newser) - Inflation in Europe and the US is projected to reach its highest point since 1995, the Wall Street Journal reports, with food prices up 83% in three years and rising energy and transportation costs. The International Monetary Fund predicts the US and Europe will see inflation of 2.6% this... More »

MORE ABOUT:
food • inflation • World Bank • Federal Reserve • International Monetary Fund • consumer prices • food prices

Bomb Threat Closes World Bank

Phone call threatens bomb at noon today

Jan 17, 08 10:39 PM CST
(Newser) - The Washington headquarters of the World Bank will be closed for business Friday as it investigates a bomb threat, Reuters reports. "The bank is working with law enforcement officials to determine the validity of the threat," said a statement from the bank. Few other details were released. The... More »

MORE ABOUT:
World Bank • Washington DC • IMF • bomb threat

World Bank Cuts China's Economy Down to Size

World Bank says the world's second-largest economy is poorer than thought

Dec 18, 07 7:44 AM CST
(Newser) - China's economy, predicted to become the world’s largest by 2012, actually is 40% smaller than previously estimated, the World Bank concludes, after updating the way it calculates GDP. Although China’s $5.33-trillion economy is still the second largest in the world behind the $12-trillion US, the new appraisal... More »

MORE ABOUT:
China • World Bank • US economy • GDP

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