Developing countries need money to weather 2010: World Bank chiefOctober 2nd, 2009 ISTANBUL - Developing nations will need outside support to help them boost domestic demand as the world begins an uncertain recovery from a devastating economic crisis, World Bank President Robert Zoellick said Friday. Speaking ahead of the World Bank and International Monetary Fund's annual meetings here, Zoellick said many emerging countries were poised to become major drivers of world growth.
World out of recession, says IMFOctober 1st, 2009 ISTANBUL - The world economy has pulled out of its worst recession since World War II and will stage a sluggish recovery in the coming year, the International Monetary Fund (IMF) said in an economic forecast released Thursday. But the IMF warned the recovery was largely due to massive public spending by governments.
IMF head sees dawn of global recoverySeptember 17th, 2009 WASHINGTON - The world economy is beginning to turn around after its first recession in decades, the head of the International Monetary Fund (IMF) said Thursday. IMF Managing Director Dominique Strauss-Kahn said poor countries have done a better job than expected of weathering the global economic storm, but will still need massive aid to curb its worst effects.
Global crisis led to record number of reforms: World BankSeptember 8th, 2009 WASHINGTON - The global economic crisis has encouraged a rash of government reforms that should make it easier to start, run and close businesses around the world, according to a World Bank report released Tuesday night. The annual "Doing Business" survey recorded more regulatory business reforms in more countries than any time since the report began in 2004.
50yr-old Chinese woman planning to pull a plane with her pigtail!August 24th, 2009 NEW DELHI - A Chinese woman, who is in her early 50s, has made plans to pull a plane using just her pigtail, after she used it to pull five cars, with a man sitting inside each, for a distance of 50 meters along a road. Zhang Tingting, a native of Henan province, performed the feat on August 23 in Tongzhou district, Beijing, reports the China Daily.
Obama says $787 billion stimulus program is reason economy beginning to turn itself aroundJuly 31st, 2009 Obama credits stimulus for economy's progressWASHINGTON — President Barack Obama says the $787 billion economic stimulus program he enacted within weeks of taking office is helping the economy begin to pull itself out of the recession. The Commerce Department reported Friday that the economy contracted at a pace of just 1 percent in the second quarter.
End of US recession in sight: ObamaJuly 29th, 2009 WASHINGTON - President Barack Obama Wednesday said the United States was witnessing the "beginning of the end" of its worst recession in decades. Speaking at a townhall-style gathering in Raleigh, North Carolina, Obama sounded optimistic on the state of the US economy but warned that massive job losses were likely to continue for some time.
Obama insists economy is 'back from the brink'July 23rd, 2009 WASHINGTON - US President Barack Obama has said the country's struggling economy is on its way to recovery, but warned that the job market will be the last thing to return to normal. In an evening press conference at the White House Wednesday, Obama defended his own prescriptions for nursing the economy back to health and urged the US public to give his plans more time to work.
Economic crisis has affected remittances: World BankJuly 13th, 2009 WASHINGTON - The worldwide recession has led immigrants in wealthy countries to cut back sharply on how much money they send back to their home countries, according to a World Bank report released Monday. Remittances to developing countries jumped 15 percent in 2008 to $328 billion, but will plummet 7.3 percent in 2009, the World Bank predicted, revising its earlier forecast of a 5-percent decline this year.
Poor economies to shrink as private investment plummets: World BankJune 22nd, 2009 WASHINGTON/SEOUL - Most developing economies will slip into recession this year amid a global financial crisis that has prompted wealthy investors to pull their money out of projects for the poor, the World Bank warned Monday. The developing world will grow 1.2 percent this year after growing 5.9 percent in 2008.
China's growth will help recover world economy, says World BankJune 9th, 2009 MONTREAL - World Bank President Robert Zoellick said Monday the Chinese economy is likely to make a strong comeback which will help pull the world economy out of recession. Zoellick made the comments in a question-and-answer session at the ongoing four-day International Economic Forum of the Americas in Montreal.
Geithner says US financial system in substantially better shape, economy more stableMay 31st, 2009 Geithner sees hopeful signs in US economyBEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S.
Taliban agrees to pull out from some parts of Lower Dir in NWFPMay 22nd, 2009 ISLAMABAD - The Taliban has agreed to move out of the Asbanr and Gulabad areas of the Lower Dir region of the North West Frontier Province (NWFP) within the next two days. Sources said the Taliban has assured a local jirga in Adenzai tehsil of Lower Dir district that they would pull out of the region soon.
Steps to pull US out of recession showing progress, says ObamaApril 14th, 2009 WASHINGTON - US President Barack Obama Tuesday said the government's efforts to pull the economy out of a devastating recession were beginning to show signs of progress. 'By no means are we out of the woods just yet.
US recession could end this year: BernankeMarch 16th, 2009 WASHINGTON - US Federal Reserve chairman Ben Bernanke said in a television interview aired Sunday that the recession could end this year if the banking and financial systems can be stabilized. 'I do think that we will get it stabilized, and we'll see the recession coming to an end probably this year,' he told news programme 60 Minutes.
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