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World Bank

Opinion | China is still a developing country despite what US leaders might say

by Ron Morgan
Opinion | China is still a developing country despite what US leaders might say

However, the United States does not want to recognise China’s status as a developing country. In 2019, the Trump administration published a memo on developing-country status in the World Trade …

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No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen

by Walter Watson
No imminent US sanctions on Chinese banks for their trade with Russia: Janet Yellen

“We’ve had intensive discussions with the Chinese about this. I think they understand our position, and it is a tool that’s available,” she said. In December, US President Joe Biden …

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Doubts swirl as India aims to be a developed economy by 2047: ‘there is a big gap’

by Walter Watson
Doubts swirl as India aims to be a developed economy by 2047: ‘there is a big gap’

Despite a challenging global environment, India’s gross domestic product grew by as much as 7.8 per cent in the year to March, according to International Monetary Fund estimates. China, meanwhile, …

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Nepal eyes a luxury travel renaissance with new high-end resorts: ‘investors are optimistic’

by Walter Watson
Nepal eyes a luxury travel renaissance with new high-end resorts: ‘investors are optimistic’

Nepal’s tourism industry has mostly bounced back, contributing 6.7 per cent to gross domestic product in 2022, according to data from the World Bank. Last year, Nepal welcomed more than …

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Philippines wants US, Japan to build rail network after dropping Beijing as ties sour over South China Sea frictions

by Walter Watson
Philippines wants US, Japan to build rail network after dropping Beijing as ties sour over South China Sea frictions

A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after …

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World Bank, AfDB partner to connect 300 million Africans to electricity by 2030

by Ron Morgan
World Bank, AfDB partner to connect 300 million Africans to electricity by 2030

The World Bank Group announced Wednesday it is partnering with the African Development Bank Group (AfDB) in an ambitious effort to provide at least 300 million people in Africa with …

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Afghan women become YouTubers to bypass Taliban work bans: ‘had to do something to generate income’

by Walter Watson
Afghan women become YouTubers to bypass Taliban work bans: ‘had to do something to generate income’

“We do not use any special equipment like cameras, lights, cranes or fancy props. We record programmes on our phones,” said Hayat, whose YouTube channel has garnered more than 20,000 …

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Pakistan officials say climate change ‘major factor’ in historical downpours that have killed 65

by Walter Watson
Pakistan officials say climate change ‘major factor’ in historical downpours that have killed 65

At least 65 people have died in storm-related incidents including lightning in Pakistan, officials said, with rain so far in April falling at nearly twice the historical average rate. Heavy …

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China is subsidising global fentanyl supply, says report by US congressional panel

by Walter Watson
China is subsidising global fentanyl supply, says report by US congressional panel

China must be pressured to address the global supply of fentanyl and its ingredient chemicals, by further economic sanctions if necessary, which it is subsidising as the “scourge” kills more …

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Hong Kong gearing up to become a hub for ILS such as catastrophe bonds, Insurance Authority says

by Anas Siddiqui
Hong Kong gearing up to become a hub for ILS such as catastrophe bonds, Insurance Authority says

“Our first mission is not to talk about the hub,” he said. “The first mission is aiming at resolving this huge protection gap on natural catastrophes, which exists around the …

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