World bank News

Durban - The BRICS group of countries consisting of Brazil, Russia, India, China and South Africa have reached an agreement to set up their own development bank in competition with the IMF and World Bank.

Gaza - On Tuesday, the World Bank reported that it has approved a grant of US$6.4 million to improve water and sewage services in the Gaza Strip. The Islamic Development Bank will also donate US$11.14 million to the project.

Moscow - For years, Russia, which maintains the world's ninth largest economy, was one of the biggest economic powerhouses to not belong to the World Trade Organization. In August, the nation will become the 156th member.

Sydney - World Bank Acting Chief Economist and Senior Vice President, Martin Ravallion gives a public lecture, hosted by the University of Technology, Sydney (UTS) Business School: ‘More Relatively-Poor People in a Less Absolutely-Poor World’.

The banking scam on the world continues with Europe, and North America next on the list to soon be buried with never-ending interest debt. The New World Order banking plan to shackle most of the world's people with war and debt is almost done.

The Nigerian contender for the position of president of the World Bank, Ngozi Okonjo-Iweala, 57, has called on the United States to take the lead in breaking the long-standing tradition of an American always heading the World Bank.

Sydney - We, who bask in the genius of Western economic theories on an hourly basis, hope to bring China around to our Nirvana-like level of brilliance. The World Bank has decided to help China escape its sinful prosperity.

Washington - While headlines about the U. S. default on August 2 tops all the reporting, I find no concrete statements about what the real consequences might be, concluding -- most likely -- this is a thin veil, a veneer, a front of little consequence on main street.

Speaking in Washington and concerned over rising food prices and lingering instability in the Middle East and Africa, World Bank President Robert Zoellick believes the global economy is "one shock away" from a major crisis.

The best place to do business is Singapore, says a World Bank index which ranks economies on their ease of doing business.